Prosafe SE

Legal Proceedings Report • May 28, 2018

Prosafe SE: Prosafe files a counter-appeal in the TSV Safe Scandinavia conversion court case

Prosafe SE: Prosafe files a counter-appeal in the TSV Safe Scandinavia conversion court case

Reference is made to press release dated 19 April 2018 in which Prosafe informed

that Westcon had appealed the court judgement regarding the TSV Safe Scandinavia

conversion. Prosafe informs that the company has filed a counter-appeal today.

On 8 March 2018, Stavanger City Court issued its judgement in favour of Prosafe

in respect of the dispute between Westcon Yards AS (Westcon) and Prosafe

relating to the conversion of the Safe Scandinavia into a tender support vessel.

The Court decided that Westcon must pay Prosafe NOK 344 million plus interest

and NOK 10.6 million legal costs.

Prosafe will continue to defend its case in order to maintain or improve on the

result in the first instance.

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

vessels. The Company is headquartered in Larnaca, Cyprus and listed on the Oslo

Stock Exchange with ticker code PRS. For more information, please refer to

www.prosafe.com

Larnaca, 28 May 2018

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Prosafe Management AS

Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Prosafe Management AS

Phone: +47 51 64 25 17 / +47 47 80 78 13

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.