Prosafe SE: Extraordinary general meetings completed

Pursuant to notices of 8 and 15 November 2016, two extraordinary general meetings of the shareholders of Prosafe SE ("Prosafe" or the "Company") were held today, 30 November 2016, at the Company's registered office at 126 Stadiou, 6020 Larnaca, Cyprus.

As follows from the attached minutes from the extraordinary general meetings, the Company is pleased to have received the shareholders' support for all items on the agendas, including the actions related to the reverse split, board appointment and authorisations required for the contemplated transactions with Axis Offshore Pte. Ltd as announced on 10 November 2016.

The Company expects to announce definitive agreements with Axis Offshore Pte. Ltd shortly. Record dates and other practical details with respect to implementation of the reverse share split will be announced in due course.

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

Larnaca, 30 November 2016
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

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