Prosafe SE - Earnings Release 2015

Prosafe SE: Operational update Q3 2015

The fleet utilisation rate in the third quarter of 2015 was 81 per cent.

Regalia, Safe Bristolia, Safe Concordia and Safe Boreas were fully contracted in

the North Sea during the quarter.

Safe Regency, Safe Lancia, Safe Hibernia and Safe Britannia were fully

contracted in Mexico throughout the quarter. Prosafe has been informed that

Pemex is indicating that payment terms will be up to 180 days until further

notice from September 2015.

Safe Caledonia commenced on contract in the UKCS early July 2015.

Safe Astoria completed her contract at the Malampaya facility with Shell

Philippines in early September and was on transit dayrate until mid-September.

Safe Astoria is now located in Batam, Indonesia, undergoing minor works.

The conversion of Safe Scandinavia to a Tender Support Vessel at the Westcon

yard in Ølensvåg, Norway, continued during the third quarter. The commencement

offshore at Oseberg East for Statoil is expected towards the end of the fourth

quarter of 2015.

Jasminia remains off-hire and is located offshore Mexico.

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

accommodation vessels. Operating profit reached USD 248.3 million in 2014 and

net profit was USD 178.8 million. The company operates globally, employs 800

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, 19 October 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1959659]

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