Prosafe SE

Business and Financial Review • Jul 18, 2014

Prosafe SE: Operational update for Q2 2014

Prosafe SE: Operational update for Q2 2014

Utilisation in the second quarter of 2014 was 84 per cent. Regalia, Safe

Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia and Safe Regency

were in full operation throughout the quarter.

The existing contract with Petrobras for Safe Concordia completed on 10 June and

was immediately followed by a further three-year extension. The average

effective day rate for the quarter was approximately USD 148 000.

Safe Caledonia underwent preparatory work at Burntisland in the UK before

mobilising for the contract with Nexen in the UK. The contract commenced on 3

June and the vessel was in full operation throughout the remainder of June.

Regalia was in full operation for Statoil in Norway throughout the second

quarter.

Safe Scandinavia commenced the contract with Statoil in Norway on 28 April and

was in full operation throughout the remainder of the quarter.

Safe Bristolia commenced the contract with ConocoPhillips in the UK on 1 May and

was in full operation throughout the remainder of the quarter.

Safe Astoria completed its operation for Swiber in Indonesia on 15 May and then

moved to the yard in Batam preparing for the contract with Shell at Malampaya in

August. The vessel earned a de-mobilisation day rate until arriving in Batam on

20 May.

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

accommodation/service vessels. Operating profit reached USD 245.1 million in

2013 and net profit was USD 199.1 million. The company operates globally,

employs about 650 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 July 2014

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Sven Børre Larsen, Chief Financial Officer

Prosafe Management AS

Phone: +47 90 94 36 73

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 99 10 94 67

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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