Prosafe SE

Share Issue/Capital Change • Oct 28, 2016

Prosafe SE: Reminder of last day of subscription subsequent offering

Prosafe SE: Reminder of last day of subscription subsequent offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR

INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to previous announcements concerning the refinancing (the

"Refinancing") of Prosafe SE ("Prosafe" or the "Company") as first announced on

7 July 2016.

The subscription period for the Subsequent Offering of up to 504,000,000 Offer

Shares at a subscription price of NOK 0.25 expires at 16:30 hours, Oslo time, on

31 October 2016. Please note that Subscription Rights that are not used to

subscribe for Offer Shares before the end of the Subscription Period will lapse

without compensation and consequently be of no value.

The Subsequent Offering is managed by ABG Sundal Collier ASA, Pareto Securities

AS, DNB Markets, a part of DNB Bank ASA, Nordea Markets, a part of Nordea Bank

Norge ASA and Skandinaviska Enskilda Banken AB (publ.), Oslo branch (SEB) (the

"Managers").

The Prospectus, including the subscription form, are available at

www.prosafe.com , www.abgsc.no , www.paretosec.com , www.dnb.no/emisjoner ,

www.nordea.no/prs  and www.seb.no , and will also be available free of charge at

the business offices of the Company and the Managers.

Subscriptions may be made by duly completing and delivering the subscription

form, in accordance with the terms and conditions set out in the Prospectus, to

one of the subscription offices set out therein. Norwegian investors with a VPS

account can in addition subscribe for Offer Shares online at www.abgsc.no ,

www.paretosec.com , www.dnb.no/emisjoner , www.nordea.no/prs or www.seb.no

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

accommodation vessels. The Company is headquartered in Larnaca, Cyprus and

listed on the Oslo Stock Exchange with ticker code PRS. For more information,

please refer to www.prosafe.com

Larnaca, 28 October 2016

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

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.