Prosafe SE

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Outcome of Scheme Meetings

Reference is made to the earlier information provided about the ongoing

financial process with the lenders, in particular the press releases dated 18

August 2021 and 28 September 2021 in relation to the Scheme Meetings to be held

pursuant to Section 210(1) of the Singapore Companies Act, for the purpose of

considering and, if thought fit, approving (with or without modifications) the

Schemes proposed to be made between Prosafe SE, Prosafe Rigs Pte. Ltd. ("PRPL")

and their respective Scheme Creditors.

The Scheme Meetings were held on 28 September 2021 on the Microsoft Teams

platform:

* at 4:00pm Singapore time for Secured Creditors of Prosafe SE;

* at 4:30pm Singapore time for Unsecured Creditors of Prosafe SE;

* at 5:00pm Singapore time for Secured Creditors of PRPL; and

* at 5:30pm Singapore time for Unsecured Creditors of PRPL.

Prosafe SE and PRPL wish to announce that the Schemes have been approved by the

requisite majority in number representing three-fourths in value of each class

of Scheme Creditors casting their votes through proxy and voting forms completed

and submitted by Scheme Creditors present and voting at the Scheme Meetings held

on 28 September 2021. The Schemes obtained the approval of 100% in number and

100% in value from Scheme Creditors present and voting at the Scheme Meetings of

each class of Scheme Creditors.

Prosafe SE and PRPL will be making applications to the Singapore Court for

sanction of the Schemes, and will provide further updates once the hearing

timelines have been fixed.

Prosafe SE and PRPL wish to thank all parties involved for their support of the

Schemes and the Group during the restructuring process.

Prosafe SE and PRPL will make the appropriate announcements as and when there

are any further material developments on the financial process and the matters

above. Please monitor Prosafe SE's website for any announcements or update on

the process.

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 www.prosafe.com (http://www.prosafe.com)

28 September 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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