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2016-02-05

Prosafe SE: Delivery of Safe Notos

Prosafe has taken delivery of the Safe Notos on 4 February 2016 as part of its
fleet renewal strategy. Safe Notos will be the most advanced and flexible
vessel for worldwide operations excluding Norway. The vessel was delivered on
time and on budget.

Delivery was taken only 26.5 months after contract signing. To our knowledge,
this is the fastest semi-submersible build project since the 1980's and the
fastest out of China ever.

In connection with the delivery, Prosafe has drawn USD 144 million of its
committed credit facility. The final delivery instalment was reduced by USD
29 million, by way of a seller's credit from Cosco (Qidong) Offshore Co.,
Ltd., repayable in a single payment by 31 December 2016, which results in
increased liquidity for the company.

Prosafe is the world's leading owner and operator of semi-submersible
accommodation vessels. Operating profit reached USD 167 million in 2015 and
net profit was USD 85.6 million. The company operates globally, employs 850
people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo
Stock Exchange with ticker code PRS. For more information, please refer
towww.prosafe.com

Larnaca, 5 February 2016
Georgina Georgiou, General Manager
Prosafe SE
For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer
Prosafe Management AS
Phone: + 47 51 64 25 00

Stig Harry Christiansen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 17

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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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Prosafe SE via Globenewswire

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