Prosafe SE (PRSEF)

[genlou]

All refinancing steps successfully completed
Reference is made to previous announcements concerning the refinancing (the "Refinancing") of Prosafe SE ("Prosafe" or the "Company") as announced on 7 July 2016, and latest the announcement of 19 September 2016.

In accordance with the timetable for the Refinancing, settlement of the remaining bonds forced to cash conversion has been completed. All actions and conditions required for completion of the Refinancing have now been finalised and fulfilled, and the effective date of bond debt discharge and bank amendments has occurred.

For further information on the Refinancing and the detailed terms thereof, including the subsequent equity offering currently expected to be launched by end of September / early October 2016, please see announcement of 7 July 2016 and subsequent releases.

Prosafe is the world's 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, 22 September 2016
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Glen Ole Rødland, Interim Chairman
Prosafe SE
Phone: [phone]

Stig Harry Christiansen, Acting CEO
Prosafe Management AS
Phone: [phone]

Robin Laird, Acting CFO
Prosafe Offshore Services Pte Limited
Phone: [phone]

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: [phone]

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