Prosafe SE

Capital/Financing Update • Jan 30, 2017

Prosafe SE: Repsol Sinopec further extend the Safe Boreas charter

Prosafe SE: Repsol Sinopec further extend the Safe Boreas charter

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK

Limited) has exercised further options to extend the charter of the Safe Boreas

by a total of 17 days.

The firm operational period of the Safe Boreas at Montrose A in the UK sector of

the North Sea is now through 27 February 2017 with Prosafe continuing with the

reduced option periods' day rate consistent with market conditions.

Repsol Sinopec has the ability to extend the Safe Boreas further through weekly

options.

Prosafe is a leading owner and operator of semi-submersible accommodation

vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo

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

www.prosafe.com

Larnaca, 30 January 2017

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Acting CEO

Prosafe Management AS

Phone: +47 478 07 813

Robin Laird, Acting CFO

Prosafe Offshore Services Pte. Ltd.

Phone: +65 81 27 21 01

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20 / +47 991 09 467

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.