Prosafe SE

Related Party Transaction • Mar 28, 2017

Prosafe SE: Safe Boreas extends further with Repsol Sinopec

Prosafe SE: Safe Boreas extends further with Repsol Sinopec

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK

Limited) has exercised a further four weeks of options.

The Safe Boreas will continue operations for Repsol Sinopec Resources UK Limited

at Montrose A in the UK sector of the North Sea through 24 April 2017 with the

reduced option periods' day rate consistent with market conditions continuing.

Repsol Sinopec has the ability to extend the Safe Boreas further through weekly

options.

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 March 2017

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 / +47 478 07 813

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20 / +47 991 09 467

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.