Prosafe SE: Safe Boreas contract further extended

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK Limited) has exercised options to further extend the charter of the Safe Boreas by a total of 21 days. The firm operational period of the Safe Boreas at Montrose A in the UK sector of the North Sea has been extended through 27 January 2017 with Prosafe continuing with the reduced option periods' day rate consistent with market conditions.

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, 3 January 2017 Georgina Georgiou, General Manager Prosafe SE

For further information, please contact: Stig Harry Christiansen, Acting CEO Prosafe Management AS Phone: +47 51 64 25 17 / +47 478 07 813 Robin Laird, Acting CFO Prosafe Offshore Services Pte. Ltd. Phone: +65 81 27 21 01 Cecilie Helland Ouff, Senior Manager Finance and Investor Relations 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.