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Part conversion of convertible bonds, new shares issued
Reference is made to the convertible bonds issued by Prosafe SE ("Prosafe" or “the Company") on 16 December 2016, with ISIN NO0010780992 and ISIN NO0010781008 ("Convertible Bonds").

Notices for part conversion have been received on the basis of which Convertible Bonds of nominal value NOK 143,427,000 have been converted into 4,780,900 new ordinary shares in the Company today, based on the conversion price of NOK 30 per share. Following the conversion, the remaining outstanding principals of the Convertible Bonds with ISIN NO0010780992 and ISIN NO0010781008 are reduced to NOK 692,000 and NOK 122,836,000, respectively. The number of outstanding shares in the Company has increased to 80,725,809 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

Larnaca, 14 December 2017
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Stig Harry Christiansen, Deputy CEO and CFO
Prosafe Management AS
Phone: +47 47 80 78 13

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20/ +47 99 10 94 67

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.