Prosafe SE

M&A Activity • Aug 17, 2015

Prosafe SE : Prosafe signs first contract for Safe Notos

Prosafe SE : Prosafe signs first contract for Safe Notos

Prosafe has signed a contract with an undisclosed client for the provision of an

accommodation vessel in the UK sector of the North Sea.

The contract firm period commitment is over eight months and will involve an

initial short period using the Safe Zephyrus commencing in Q2 2016, to be

replaced with the Safe Notos on arrival into the North Sea. In addition, Prosafe

has granted four one-month options.

Total value of the contract for the firm period is approximately USD 60 million.

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, 17 August 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Prosafe Management AS

Phone: +47 51 64 25 00

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 51 64 25 20

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1945907]