Prosafe SE: Completion of the Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Reference is made to announcement of 1 November 2016 concerning the final
results of and allocation of shares in the subsequent offering (the "Subsequent
Offering") of new ordinary shares (the "Offer Shares") in Prosafe SE ("Prosafe"
or the "Company") at a subscription price of NOK
0.25 per Offer Share.

Settlement of the Subsequent Offering has now been completed and 504,000,000 new
ordinary Offer Shares have been issued and registered in the Norwegian Central
Securities Depository (VPS). Pursuant to the terms of the prospectus dated 14
October 2016, the Offer Shares will, subject to due payment, be delivered to
investors today. The Offer Shares are tradable on Oslo Børs.

Following the completion of the Subsequent Offering and previous conversion of
Class A-shares, the Company's total number of issued and outstanding shares now
consists of 6,553,010,116 ordinary shares.

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, 9 November 2016
Georgina Georgiou, General Manager
Prosafe SE

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 Limited
Phone: +65 65 59 19 90 / +65 81 27 21 01

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations
Prosafe AS
Phone: +47 51 64 25 20


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act

*****

Important information:

The release is not for publication or distribution, in whole or in part directly
or indirectly, in or into Australia, Canada, Japan or the United States
(including its territories and possessions, any state of the United States and
the District of Columbia).

This release is an announcement issued pursuant to legal information
obligations, and is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. It is issued for information
purposes only, and does not constitute or form part of any offer or solicitation
to purchase or subscribe for securities, in the United States or in any other
jurisdiction.  The securities mentioned herein have not been, and will not be
registered under the United States Act of 1933, as amended (the "Securities
Act").  The Securities may not be offered or sold in United States except
pursuant to an exemption from the registration requirements of the Securities
Act.  The Company does not intend to register any portion of the offering of the
securities in the United States or to conduct a public offering of the
securities in United States. Copies of this announcement are not being made and
may not be distributed or sent into Australia, Canada, Japan or the United
States.  The subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions.  Neither the
Company nor the Managers assumes any responsibility in the event there is a
violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute violation of the securities laws of any such
jurisdiction. The Managers are acting for the Company and no one else in
connection with the Subsequent Offering and will not be responsible to anyone
other than the Company for providing the protections afforded to their
respective clients or for providing advice in relation to any other matter
referred to in this release.

Forward-looking statements:

This release and any materials distributed in connection with this release may
contain certain forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect the Company's
current expectations and assumptions as to future events and circumstances that
may not prove accurate.  A number of material factors could cause actual results
and developments to differ materially from those expressed or implied by these
forward-looking statements.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.