Prosafe SE

Capital/Financing Update • Jul 17, 2018

Prosafe awarded important contract in Brazil

Prosafe awarded important contract in Brazil

Prosafe awarded important contract in Brazil

Prosafe has been awarded a contract by MODEC Serviços de Petróleo do Brasil Ltda

("MODEC") for the provision of the Safe Concordia semi-submersible accommodation

vessel to support specific MODEC FPSO operations in Brazil.

The firm duration of the contract commencing September 2018 is 200 days with a

15 day option.

The contract value - which is not revealed - includes mobilization and

demobilization.

Jesper Kragh Andresen, Prosafe CEO says: "Prosafe is very pleased with this

contract, as it marks the re-entrance of Safe Concordia in Brazilian waters. We

have a good track-record of providing gangway connected accommodation services

to both spread and turret moored FPSOs, and we will endeavour to offer the best

possible services to MODEC, which we consider to be an important customer with

significant potential future demand going forward."

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

Stavanger,7 July 2018

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Prosafe Management AS

Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

Prosafe Management AS

Phone: +47 51 64 25 17 / +47 478 07 813

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.