Prosafe SE

Capital/Financing Update • Aug 18, 2015

Prosafe SE : Lundin Norway exercises Safe Boreas option

Prosafe SE : Lundin Norway exercises Safe Boreas option

Lundin Norway AS ('Lundin') has exercised a one month option for the provision

of the Safe Boreas semi-submersible accommodation vessel at the Edvard Grieg

Project in the Norwegian sector of the North Sea.

The one month option extends on site operations through mid-December 2015 and

has a total value of approximately USD 10 million. In addition, Lundin has a

further one month option.

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

accommodation vessels. Operating profit reached USD 248.3 million in 2014 and

net profit was USD 178.8 million. The company operates globally, employs 800

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 August 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig H. 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 to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1946209]