Prosafe SE

Disclosure of substantial shareholding in Prosafe SE

Funds managed by DNB Asset Management AS have

subscribed and received a conditional allocation of

361 752 565 new shares in Prosafe SE as approved by

the General Meeting in the company today.

Funds managed by DNB Asset Management AS will, if all

conditions are met, own 361 752 565 share in the

company after the refinancing process is completed,

representing 5,27% of outstanding shares. This

ownership share is based upon the following

assumptions;

1. 4,376,600,000 new shares in connection with the

private placement

2. a convertible bond of NOK 82.79 million convertible

into 331,163,764 new shares

3. 1,396,836,250 new shares as consideration for the

bond conversion

4. shareholders as of close of trade on 12 July 2016

(as recorded in VPS on 14 July 2016) that did not

subscribe in the private placement will, subject to

applicable restrictions, receive non-transferable

subscription rights for up to 504,000,000 shares

5. 259 570 359 existing shares

Totaling 6 868 170 373 outstanding shares

Please see attached link to press release published by

Prosafe SE at Oslo Stock Exchange for further details

about the refinancing process.

http://www.newsweb.no/newsweb/search.do?

messageId=407897

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