Prosafe SE - Major Shareholding Notification 2016

Correction of Disclosure of substantial shareholding in Prosafe SE

In reference to DNB Asset Management AS's conditional

disclosure, 23rd August 2016, and based upon new

information from the book runners DNB Asset Management

AS hereby adjust the allotted numbers of shares and

portion of outstanding shares in Prosafe SE.

Funds managed by DNB Asset Management AS have

subscribed and received an allocation of 351 341 265,

including a convertible bond that can be converted

into 33 116 376 new shares in Prosafe SE, as approved

by the General Meeting in the company 23rd August 2016.

Funds managed by DNB Asset Management AS will, if all

conditions are met, own or have the right to 351 341

265 shares in the company after the refinancing

process is completed, representing 5,82% of

outstanding shares according to Norwegian regulation.

Funds managed by DNB Asset Management AS will, if all

conditions are met, own 318 224 889 shares in the

company after the refinancing process is completed,

representing 5,27% of outstanding shares according to

Cypriote regulation.

This ownership share is based upon the following

assumptions;

1. 4,376,600,000 new shares in connection with

the private placement

2. 1,396,836,250 new shares as consideration for

the bond Conversion

3. 259 570 359 existing shares

Totaling 6 033 006 609 outstanding shares

Please see attached link to press release published by

Prosafe SE at Oslo Stock Exchange for further details

about the refinancing process.

http://www.newsweb.no/newsweb/search.do?

messageId=407897

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