Update on the court case between Prosafe and Westcon

Reference is made to press release dated 12 May 2021 in which Prosafe informed
that Prosafe had decided to address the perceived shortcomings of the judgement
by the Gulating Court of Appeal through an appeal to the Supreme Court.

The Supreme Court have today decided not to accept the appeal. As such the
judgement by the Gulating Court of Appeal is final.

The Gulating Court of Appeal decided that Prosafe had to pay Westcon NOK
302,510,457 plus interest and legal costs, in total about NOK 465 million
related to the conversion of the Safe Scandinavia at Westcon yard.

Prosafe is a leading owner and operator of semi-submersible accommodation
vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.
For more information, please refer to https://www.prosafe.com

Stavanger, 27 August 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 478 07 813