Prosafe SE

Share Issue/Capital Change • May 24, 2018

Prosafe SE: Part conversion of convertible bonds, new shares issued

Prosafe SE: Part conversion of convertible bonds, new shares issued

Reference is made to the convertible bonds issued by Prosafe SE ("Prosafe" or

the "Company") on 15 September 2016, with ISIN NO 001077102.5 ("Convertible

Bonds").

Notice for part conversion has been received on the basis of which Convertible

Bonds of nominal value NOK 2,000,000 have today been converted into 80,000 new

ordinary shares in the Company, based on the conversion price of NOK 25 per

share. Following the conversion, the remaining outstanding principal of the

Convertible Bonds is reduced to NOK 68,810,735. The number of outstanding shares

in the Company has increased to 81,140,038 shares, each of nominal value EUR

0.1.

Prosafe is a 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, 24 May 2018

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Deputy CEO and CFO

Prosafe Management AS

Phone: +47 51 64 25 17 / +47 478 07 813

Cecilie Helland Ouff, Senior Manager - Corporate Finance and Treasury

Prosafe AS

Phone: +47 51 64 25 20 / +47 991 09 467

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.