Prosafe SE

M&A Activity • Mar 18, 2016

Prosafe SE: Safe Boreas commenced contract

Prosafe SE: Safe Boreas commenced contract

Reference is made to the press release dated 17th August 2015. Prosafe has

agreed with Talisman Sinopec Energy UK Limited to provide the Safe Boreas for

the entire firm period of over eight months plus options.

The Safe Boreas commenced operations at Montrose A mid-March 2016 and will also

gangway connect to Montrose BLP throughout the contract duration.

Total value of the firm hire duration remains at approximately USD 60 million.

Prosafe is the world's leading owner and operator of semi-submersible

accommodation vessels. Operating profit reached USD 167 million in 2015 and net

profit was USD 85.6 million. The company operates globally, employs 850 people

and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock

Exchange with ticker code PRS. For more information, please refer to

www.prosafe.com

Larnaca, 18 March 2016

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1995913]