Prosafe SE

Legal Proceedings Report • Apr 22, 2021

Prosafe SE: Supporting statement to the 2020 Annual Report in light of the ruling in the Westcon matter

Prosafe SE: Supporting statement to the 2020 Annual Report in light of the ruling in the Westcon matter

Reference is made to Prosafe's annual accounts for 2020 published on 25 March

2021 as well as the notice for annual general meeting published on 12 April

Reference is further made to announcement on 15 April 2021, in which Prosafe

informed that the Gulating Court of Appeal had decided against Prosafe in the

Westcon matter, thereby awarding full payment to Westcon of amounts claimed and

thus reversing the ruling by the Stavanger District Court in the first instance.

In light of the ruling, Prosafe has today issued a supporting statement to its

2020 annual report and accounts. The statement is attached.

Prosafe is a leading owner and operator of semi-submersible accommodation

vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.

For more information, please refer to www.prosafe.com (http://www.prosafe.com)

Stavanger, 22 April 2021

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act