Prosafe SE

Report Publication Announcement • Feb 5, 2016

Prosafe SE: Delivery of Safe Notos

Prosafe SE: Delivery of Safe Notos

Prosafe has taken delivery of the Safe Notos on 4 February 2016 as part of its

fleet renewal strategy. Safe Notos will be the most advanced and flexible vessel

for worldwide operations excluding Norway. The vessel was delivered on time and

on budget.

Delivery was taken only 26.5 months after contract signing. To our knowledge,

this is the fastest semi-submersible build project since the 1980's and the

fastest out of China ever.

In connection with the delivery, Prosafe has drawn USD 144 million of its

committed credit facility. The final delivery instalment was reduced by USD 29

million, by way of a seller's credit from Cosco (Qidong) Offshore Co., Ltd.,

repayable in a single payment by 31 December 2016, which results in increased

liquidity for the company.

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, 5 February 2016

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Prosafe Management AS

Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer

Prosafe Management AS

Phone: +47 51 64 25 17

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#1984077]