Prosafe SE

Share Issue/Capital Change • Dec 14, 2017

Prosafe SE: Part conversion of convertible bonds, new shares issued

Prosafe SE: Part conversion of convertible bonds, new shares issued

Reference is made to the convertible bonds issued by Prosafe SE ("Prosafe" or

"the Company") on 16 December 2016, with ISIN NO0010780992 and ISIN NO0010781008

("Convertible Bonds").

Notices for part conversion have been received on the basis of which Convertible

Bonds of nominal value NOK 143,427,000 have been converted into 4,780,900 new

ordinary shares in the Company today, based on the conversion price of NOK 30

per share. Following the conversion, the remaining outstanding principals of the

Convertible Bonds with ISIN NO0010780992 and ISIN NO0010781008 are reduced to

NOK 692,000 and NOK 122,836,000, respectively. The number of outstanding shares

in the Company has increased to 80,725,809 shares, each of nominal value EUR

0.1.

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, 14 December 2017

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Deputy CEO and CFO

Prosafe Management AS

Phone: +47 47 80 78 13

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20/ +47 99 10 94 67

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.