Prosafe SE

Capital/Financing Update • Jan 3, 2017

Prosafe SE: Safe Boreas contract further extended

Prosafe SE: Safe Boreas contract further extended

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK

Limited) has exercised options to further extend the charter of the Safe Boreas

by a total of 21 days.

The firm operational period of the Safe Boreas at Montrose A in the UK sector of

the North Sea has been extended through 27 January 2017 with Prosafe continuing

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

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, 3 January 2017

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Acting CEO

Prosafe Management AS

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

Robin Laird, Acting CFO

Prosafe Offshore Services Pte. Ltd.

Phone: +65 81 27 21 01

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.