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Safe Boreas commenced contract
Reference is made to the press release dated 17th August 2015. Prosafe has agreed with Talisman Sinopec Energy UK Limited to provide the Safe Boreas for the entire firm period of over eight months plus options.

The Safe Boreas commenced operations at Montrose A mid-March 2016 and will also gangway connect to Montrose BLP throughout the contract duration.

Total value of the firm hire duration remains at approximately USD 60 million.

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 to www.prosafe.com

Larnaca, 18 March 2016
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
+47 51 64 25 20