Prosafe SE

Regulatory Filings • Jan 24, 2014

Prosafe SE: Correction - Operational update for Q4 2013

Prosafe SE: Correction - Operational update for Q4 2013

Utilisation in the fourth quarter of 2013 was 82 per cent (corrected). Safe

Caledonia, 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 and the average effective day rate in

the quarter was approximately USD 141 000.

Safe Caledonia continued operation for BP in the North Sea during the quarter.

Safe Scandinavia completed the contract with ConocoPhillips UK on 12 November

and is currently undertaking a life extension refurbishment and five-year

special period survey (SPS) at the Remontowa yard in Gdansk in Poland, before

commencing a contract with Statoil in Norway.

Regalia completed operations for Shell on 24 November. The vessel is currently

at Keppel Verolme in the Netherlands for refurbishment work and a five-year SPS

before commencing a contract with Statoil in Norway.

Safe Bristolia was in full operation for Elf Exploration in UK until 20

December. She is scheduled to commence the next contract in April 2014.

Safe Astoria remained at the yard in Batam until 26 December, when she started

mobilising for a contract with Swiber in Indonesia. The vessel earned

mobilisation day rate until operations commenced on 5 January 2014.

In 2013, Prosafe had over 1 million exposure hours and zero lost time injuries.

The company also showed positive development on other HSE measures.

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

accommodation vessels. Operating profit reached USD 222.4 million in 2012 and

net profit was USD 177.5 million. The Company operates globally, employs 570

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 January 2013

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.

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