Prosafe SE - Capital/Financing Update 2021

Prosafe SE: Financial restructuring completed

Reference is made to earlier information provided regarding the financial

restructuring process of Prosafe SE and Prosafe Rigs Pte. Ltd. ("PRPL"), latest

on 17(th) December 2021.

Prosafe SE is pleased to confirm that the Step 2 Conversion as described in the

prospectus is today implemented and as such that the financial restructuring is

fully implemented and complete.

After finalization of the Step 1 Conversion and the Step 2 Conversion, including

original share capital, the aggregate amount of 8,798,699,789 shares has been be

issued and the share capital is now EUR 439,934,989.45.

Prosafe SE is looking forward to reporting its revitalized balance sheet in its

Q4 2021 financial report on 10(th) February 2022.

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.

For more information, please refer to https://www.prosafe.com

Stavanger, 20 December 2021

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO

Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO

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

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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