Prosafe SE

Regulatory Filings • Apr 24, 2014

Prosafe SE: Operational update for Q1 2014

Prosafe SE: Operational update for Q1 2014

Utilisation in the first quarter of 2014 was 76 per cent. Safe Caledonia, Safe

Astoria, Safe Concordia, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia

and Safe Regency were in full operation throughout the quarter.

Safe Concordia was on contract in Brazil with an average effective day rate in

the quarter of approximately USD 136 000.

Safe Caledonia completed operations for BP on 31March. The vessel is currently

at Burntisland in the UK for preparatory work before mobilising for a contract

with Nexen in the UK commencing early June 2014.

Regalia completed the planned yard work and a five-year special period survey

(SPS) at Keppel Verolme and commenced operation for Statoil in Norway on 28

February.

Safe Scandinavia remained at the Remontowa yard in Poland undertaking a life

extension refurbishment and a five-year SPS before commencing a contract with

Statoil in Norway late April 2014.

Safe Bristolia is currently undertaking maintenance work at Burntisland in the

UK and is scheduled to commence a contract with ConocoPhillips in May 2014.

Safe Astoria continued its operation for Swiber in Indonesia throughout the

first quarter. In addition, Prosafe and Swiber have agreed an extension period

of 43 days commencing early April 2014.

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

accommodation/service vessels. Operating profit reached USD 245.1 million in

2013 and net profit was USD 199.1 million. The company operates globally,

employs 595 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, 24 April 2014

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Sven Børre Larsen, Chief Financial Officer

Prosafe Management AS

Phone: +47 51 64 25 30

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#1779530]