Prosafe SE: Safe Boreas extends further with Repso

Repsol Sinopec Resources UK Limited (formerly Talisman Sinopec Energy UK Limited) has exercised a further four weeks of options.

The Safe Boreas will continue operations for Repsol Sinopec Resources UK Limited at Montrose A in the UK sector of the North Sea through 24 April 2017 with the reduced option periods' day rate consistent with market conditions continuing.

Repsol Sinopec has the ability to extend the Safe Boreas further through weekly options. 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, 28 March 2017 Georgina Georgiou, General Manager Prosafe SE For further information, please contact: Jesper K. Andresen, CEO Prosafe Management AS Phone: +47 51 64 25 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO Prosafe Management AS Phone: +47 51 64 25 17 / +47 478 07 813 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.