Prosafe SE

Earnings Release • Apr 24, 2015

Prosafe SE: Operational update Q1 2015

Prosafe SE: Operational update Q1 2015

The fleet utilisation rate in the first quarter of 2015 was 80 per cent. Safe

Caledonia, Regalia and Safe Astoria were fully contracted during the first

quarter.

The five vessels operating in Mexico had an utilisation rate of 93 per cent in

the quarter with Jasminia being off-hire for approximately one month in the

quarter. During the first quarter Prosafe was awarded contract extensions in

Mexico with a total net value of USD 17.2 million. The Safe Britannia will

undergo a planned DP upgrade during the second quarter and will be off-hire for

approximately one month.

Safe Concordia is working on a three-year contract with Petrobras in Brazil. In

mid-February the vessel went to the Maua shipyard to undergo a five-year Special

Periodic Survey.

Safe Scandinavia was on contract with Premier Oil at the Solan field in UK until

end February. In March the vessel arrived at Westcon Yards in Ølensvåg, Norway,

where she will be converted to a Tender Support Vessel.

Safe Bristolia was at Hanøytangen shipyard for repair work the entire quarter.

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, 24 April 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Sven Børre Larsen, Chief Financial Officer

Prosafe Management AS

Phone: +47 51 64 25 30

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.

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