Prosafe SE - Share Issue/Capital Change 2016

Prosafe SE: Conversion of convertible bonds, new shares issued

Reference is made to announcement by Prosafe SE ("Prosafe" or the Company") on

15 September 2016, regarding inter alia the issuance of a new convertible bond

loan in the aggregate nominal amount of NOK 81,790,013 against redemption of

bonds.

Based on conversion notices received, convertible bonds of nominal value NOK

3,000,000 have today been converted into 12,000,000 class A shares in the

Company, based on the conversion price of NOK 0.25 per share. Following the

conversion, the remaining outstanding principal of the convertible bond loan is

reduced to NOK 78,790,013. The number of outstanding shares in the Company has

increased to 6,049,010,116 shares, consisting of 259,570,359 ordinary shares and

5,789,439,757 class A shares.

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, 23 September 2016

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Acting CEO

Prosafe Management AS

Phone: +47 47 80 78 13

Robin Laird, Acting CFO

Prosafe Offshore Services Pte Limited

Phone: +65 81 27 21 01

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 99 10 94 67

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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