Prosafe SE - Capital/Financing Update 2018

Prosafe SE: Warrants issued to lenders

Reference is made to previous announcements by Prosafe with respect to

agreements with COSCO and its lenders, including announcements of 3 and 29

August 2018.

As part of these agreements, the company has today issued the warrants to those

lenders having elected to receive such instead of increased margins. In total,

9,779,993 warrants have been issued, each of which gives right to subscribe for

one new share in the company at a subscription price of NOK 21.37. Of these,

5,141,021 warrants are conditional inter alia on Prosafe taking delivery of Safe

Nova and/or Safe Vega, and the remaining 4,638,972 warrants on Prosafe taking

delivery of both Safe Nova and Safe Vega.

For further details, please refer to announcements of 3 and 29 August 2018,

available on www.prosafe.com (http://www.prosafe.com/) and www.newsweb.no

(http://www.newsweb.no/)

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

vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.

Stavanger, 28 November 2018

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 64 25 30 / +47 907 65 155

Cecilie Helland Ouff, Senior Manager - Corporate Finance and Treasury

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.

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