Prosafe SE

Prosafe SE: Prosafe wins Westcon dispute regarding the TSV Safe Scandinavia conversion

Stavanger City Court has made a favourable decision in the court case regarding

the TSV Safe Scandinavia - Westcon dispute.

The dispute between Westcon Yards AS (Westcon) and Prosafe was related to a

substantial cost overrun of Westcon's price estimate for the conversion of the

Safe Scandinavia to a tender support vessel at Westcon. Westcon claimed an

additional compensation of approx. NOK 306 million plus interest, whereas

Prosafe disputed Westcon's claim and claimed a substantial repayment.

The Court gave judgement in favour of Prosafe, and has decided that Westcon must

repay Prosafe NOK 344 million plus interest and NOK 10.6 million legal costs.

"We are very pleased to note that the Stavanger City Court has decided in our

favour in practically all respects. The judgement represents full repayment of

the amount claimed", says Jesper K. Andresen, CEO of Prosafe.

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, 8 March 2018

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Prosafe Management AS

Phone: +47 51 64 25 30 / +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.

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