Prosafe SE (PRS.OL)

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Prosafe SE: Third quarter 2021 results

(Figures in brackets refer to the corresponding period of 2020)

EBITDA for the third quarter was USD 12.5 million (USD 1.2 million negative),
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reflecting a high activity level with a fleet utilization rate of 70.9 per cent
(16.4 per cent). The liquidity reserve was USD 107.1 million at the end of the
quarter. Several contract extensions and two new contracts were secured.

As informed in previous press releases, the financial restructuring process is
on track with formal support from all lenders. The Extraordinary General Meeting
approved the solution on 27 September 2021 and the Singapore scheme was
sanctioned on 18 October 2021. The Norwegian reconstruction process is underway,
and the Company anticipates that the overall process will be completed before or
around year-end 2021. Upon completion, this transaction will result in a
significant de-leveraging of the balance sheet with approximately 75 per cent of
debt reduction, debt service based on cash sweep and a more robust financial
situation. Post implementation, existing banks/creditors will own 99 per cent of
the equity and current shareholders will own 1 per cent of the equity.

Recent highlights

• Operating status and financial results:

  • Fleet utilisation of 70.9 per cent in Q3 (16.4 per cent)
  • EBITDA of USD 12.5 million (USD 1.2 million negative)
  • Positive cash flow from operations of USD 17.3 million (USD 12.3 million
    negative)
  • Liquidity reserve of USD 107.1 million (USD 164.5 million)

• Operations and commercial:

  • Good operational and HSE performance
  • 6 of 7 vessels were on contract in the quarter
  • Further options for Safe Boreas, Safe Zephyrus, Safe Caledonia and Safe
    Concordia were exercised
  • Safe Zephyrus was awarded a 10-month contract with up to 4 months
    options by bp for work in 2022
  • Safe Caledonia was awarded a 9-month contract with one 30-day option by
    TotalEnergies for work in 2022 after the quarter. The vessel will remain
    in-field over the winter period in between the current and the new
    contract
  • Ongoing tenders in Brazil

Jesper K. Andresen, Prosafe’s CEO says, “The third quarter was characterized by
high activity, both operationally and commercially, resulting in improved
financial results and an improved order backlog. We were awarded a ten-month
contract for bp and a nine-month contract for TotalEnergies in 2022, and a
number of options on current contracts were exercised. We are further pleased to
note that the financial restructuring is on track, and we continue to anticipate
that this will be completed before or around year-end 2021”.

A complete version of the Q3 2021 earnings release and the Q3 2021 presentation
is attached and can be downloaded from www.prosafe.com (http://www.prosafe.com)
and www.newsweb.no (http://www.newsweb.no)

Prosafe is a leading owner and operator of semi-submersible accommodation
vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.
For more information, please refer to www.prosafe.com (http://www.prosafe.com)

Attachments:
Q3 2021 report
Q3 2021 presentation

4 November 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

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Prosafe SE: Safe Notos extended by Petrobras

Prosafe has signed a further contract extension with Petrobras Netherlands B.V.
(‘Petrobras’) for the provision of the Safe Notos semi-submersible vessel for
safety and maintenance support offshore Brazil.
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The original three years and 222-day firm period was due to complete in July
2020, had previously been extended through to mid-November 2021 and this further
extension will take the firm operational period through to mid-July 2022.

Total value of the contract extension is approximately USD 16.2 million.

The Safe Notos, a technologically advanced and efficient Dynamically Positioned
(DP3), harsh environment semi-submersible safety and maintenance support vessel,
can accommodate up to 500 persons with extensive recreation facilities. In
addition, with a large capacity open deck area and telescopic gangway, the Safe
Notos provides Petrobras with 300 tonne lift capability.

Jesper Kragh Andresen, CEO of Prosafe says: “Prosafe is pleased that once again
the Safe Notos has been extended by Petrobras demonstrating her continued value
in supporting their offshore operations.”

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

Stavanger, 5 November 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Restructuring

Reference is made to the earlier notices regarding the ongoing financial process
with the lenders, including the press release published on 25 October 2021 and
earlier information regarding the Norwegian restructuring proceedings (Nw:
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rekonstruksjon) initiated on 1 September 2021 pursuant to the Norwegian
Temporary Act on Restructuring (Nw: Midlertidig lov om rekonstruksjon).

Prosafe SE is happy to announce that the restructuring plan proposed in the
Norwegian restructuring proceedings (which substantially mirrors the plan
proposed in the Singapore scheme of arrangement for Prosafe SE) has now been
approved by the requisite majority in number representing 100% in value of the
creditors casting their votes through proxy and voting forms completed and
submitted by Creditors on 8 November 2021.

This is an important milestone which will provide further certainty in the
overall restructuring process.

Prosafe SE and PRPL will make the appropriate announcements as and when there
are any further material developments on the completion of the overall
restructuring process. Please monitor Prosafe SE’s website for any announcements
or update.

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

Stavanger, 9 November 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Restructuring

Reference is made to the earlier information provided about the ongoing
financial process with the lenders, including the press release published on 8
November 2021.
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Prosafe SE is pleased to announce that the Norwegian restructuring plan approved
by the requisite majority of creditors on 8 November 2021, was today sanctioned
by Oslo District Court (Nw: Oslo tingrett).

This was an important milestone which will provide further certainty in the
overall restructuring process and Prosafe SE wishes to thank all parties
involved for their support of the restructuring plan and the Group during the
restructuring process to date.

Prosafe SE and PRPL will make the appropriate announcements as and when there
are any further material developments on the completion of the overall
restructuring process. Please monitor Prosafe SE’s website for any announcements
or update.

Prosafe continues to anticipate that the financial restructuring will be
effective before or around year end 2021.

Prosafe is a leading owner and operator of semi-submersible accommodation
vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS.
For more information, please refer to https://www.prosafe.com
(https://www.prosafe.com/)

Stavanger, 10 November 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

OSLO BØRS - STATUS COMPANIES PLACED IN RECOVERY BOX AND PENALTY BENCH

Currently the following companies are placed in Recovery Box:

Insr Insurance Group ASA (INSR) (since 29.06.2020)
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Prosafe SE (PRS) (since 05.11.2020)
Seadrill Ltd (SDRL) (since 05.11.2020)

Recovery Box is a special compartment where Oslo Børs can place securities where the Issuer is subject to circumstances that make pricing of the securities particularly uncertain.

Recovery Box is regulated in section 2.10.2 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.2 of Euronext Growth Oslo Rule Book Part II. The relevant security will remain in the Recovery Box until the circumstances for the allocation to the Recovery Box are no longer present.

Currently the following companies are placed in Penalty Bench:

DOF ASA (DOF) (since 15.03.2021)
Netoil Capital Ltd. (NOC) (since 23.07.2021)
Insr Insurance Group ASA (INSR) (since 30.08.2021)

Penalty Bench is a special compartment where the securities of Issuers that fail to comply with the Rules are placed.

Penalty Bench is regulated in section 2.10.3 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.3 of Euronext Growth Oslo Rule Book Part II. Oslo Børs will remove a security from the Penalty Bench and allocate the security to the normal compartment when the issuer has corrected the violation of the Rules that was the reason for allocating the security to the Penalty Bench.

Kilde

[TekBot]

OSLO BØRS - STATUS COMPANIES PLACED IN RECOVERY BOX AND PENALTY BENCH

Currently the following companies are placed in Recovery Box:

Insr Insurance Group ASA (INSR) (since 29.06.2020)
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Prosafe SE (PRS) (since 05.11.2020)
Seadrill Ltd (SDRL) (since 05.11.2020)

Recovery Box is a special compartment where Oslo Børs can place securities where the Issuer is subject to circumstances that make pricing of the securities particularly uncertain.

Recovery Box is regulated in section 2.10.2 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.2 of Euronext Growth Oslo Rule Book Part II. The relevant security will remain in the Recovery Box until the circumstances for the allocation to the Recovery Box are no longer present.

Currently the following companies are placed in Penalty Bench:

DOF ASA (DOF) (since 15.03.2021)
Netoil Capital Ltd. (NOC) (since 23.07.2021)
Insr Insurance Group ASA (INSR) (since 30.08.2021)

Penalty Bench is a special compartment where the securities of Issuers that fail to comply with the Rules are placed.

Penalty Bench is regulated in section 2.10.3 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.3 of Euronext Growth Oslo Rule Book Part II. Oslo Børs will remove a security from the Penalty Bench and allocate the security to the normal compartment when the issuer has corrected the violation of the Rules that was the reason for allocating the security to the Penalty Bench.

Kilde

[TekBot]

OSLO BØRS - STATUS COMPANIES PLACED IN RECOVERY BOX AND PENALTY BENCH

Currently the following companies are placed in Recovery Box:

Insr Insurance Group ASA (INSR) (since 29.06.2020)
…

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Prosafe SE (PRS) (since 05.11.2020)
Seadrill Ltd (SDRL) (since 05.11.2020)

Recovery Box is a special compartment where Oslo Børs can place securities where the Issuer is subject to circumstances that make pricing of the securities particularly uncertain.

Recovery Box is regulated in section 2.10.2 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.2 of Euronext Growth Oslo Rule Book Part II. The relevant security will remain in the Recovery Box until the circumstances for the allocation to the Recovery Box are no longer present.

Currently the following companies are placed in Penalty Bench:

DOF ASA (DOF) (since 15.03.2021)
Netoil Capital Ltd. (NOC) (since 23.07.2021)
Insr Insurance Group ASA (INSR) (since 30.08.2021)

Penalty Bench is a special compartment where the securities of Issuers that fail to comply with the Rules are placed.

Penalty Bench is regulated in section 2.10.3 of Oslo Rule Book II (Oslo Børs and Euronext Expand) and section 3.8.3 of Euronext Growth Oslo Rule Book Part II. Oslo Børs will remove a security from the Penalty Bench and allocate the security to the normal compartment when the issuer has corrected the violation of the Rules that was the reason for allocating the security to the Penalty Bench.

Kilde

[TekBot]

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Restructuring

Reference is made to the earlier information provided about the ongoing
financial process with the lenders, including the press release published on 10
November 2021.
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The Norwegian register of business enterprises (Nw: Brønnøysundregisteret) today
confirmed that reduction of the nominal value per share from EUR 0.1 to EUR
0.05 has been registered. The reduction is in accordance with the extraordinary
general meeting in the Company held 27 September 2021.

Prosafe continues to anticipate that the financial restructuring will be
effective before or around year end 2021.

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

Stavanger, 6 December 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

Prosafe SE: Safe Concordia contract extended

The firm charter period of the Safe Concordia in Trinidad and Tobago has been
extended and takes the firm operational period through to end-January 2022.

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Total value of the contract extensions is approximately USD 6 million.

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

Stavanger, 9 December 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

Disclosure of large shareholding – Prosafe SE

LF Investment ApS has on 7 December 2021 contributed 6,307,666 shares in Prosafe SE (the “Company”) corresponding to 7.2% of the issued and outstanding shares and votes in the Company to J. Lauritzen A/S. Lauritzen Fonden is the parent company of both LF Investment ApS and J. Lauritzen A/S, and the transfer was done in connection with an internal reorganization in Lauritzen Fonden Group.

Following the transaction, (i)LF Investment ApS owns nil shares and votes in the Issuer and (ii) J. Lauritzen A/S owns 6,307,666 shares in the Issuer, corresponding to 7.2% of the issued and outstanding shares and votes in the Company.
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Kilde

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Prosafe SE: Update on financial restructuring and forward-looking statement

Prospectus published
Reference is made to earlier information provided regarding the financial
restructuring process of Prosafe SE and Prosafe Rigs Pte. Ltd. (“PRPL”).
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In preparation for the implementation and closing of the financial
restructuring, a listing prospectus for the issuance of new shares in connection
with the private placement towards creditors against conversion of total debt of
ca. USD 1.1 billion has today been published. The prospectus is attached and is
available on Investor Information | Prosafe.

The Norwegian Financial Supervisory Authority approved the prospectus on 14
December 2021.

Implementation of the restructuring
Prosafe expects implementation of the Step 1 Conversion, as described in the
prospectus, to be finalized within the next days where 7 894 088 600 shares will
be issued, and that the Step 2 Conversion will be finalized shortly thereafter.

Prosafe will provide further updates as required and continues to anticipate
that the financial restructuring will be effective before year end.

Forward looking statement
Prosafe takes the opportunity to provide guidance for the full year 2021 and
2022 EBITDA which is anticipated to end up in the area of respectively USD 24 -
26 million for 2021 and USD 50 - 60 million for 2022, assuming that contracts
already entered into are completed as scheduled.

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

Stavanger, 15 December 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

PROSAFE SE - SHAREHOLDING DISCLOSURE

15 December 2021

Reference is made to the stock exchange announcement made by Prosafe SE (the “Company”) dated as of today’s date, regarding the financial restructuring of the Company, where it was further announced that part of the Company’s debt, including to the institutions listed below, will be converted into equity in the Company.
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The debt to share equitization will occur in two separate stages. In the first stage of the equitization and restructuring transaction (the “Initial Equitization”):

1.ABN Amro Bank N.V. will receive 484,237,707 shares and thereby own a total of 484,237,707 shares in the Company, equalling 6.1 % of the total issued and outstanding share capital and votes in the Company, consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

2.Danske Bank A/S will receive 883,564,234 shares and thereby own a total of 883,564,234 shares in the Company, equalling 11.1 % of the total issued and outstanding share capital and votes in the Company, consequently the 10 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

3.DNB Bank ASA will receive 1,377,065,562 shares and thereby own a total of 1,377,067,147 shares in the Company, equalling 17.3 % of the total issued and outstanding share capital and votes in the Company, consequently the 15 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

4.ING Belgium NV/SA, through Nordea Bank AB as custodian shareholder, will receive 410,087,200 shares and thereby own a total of 410,087,200 shares in the Company, equalling 5.1 % of the total issued and outstanding share capital and votes in the Company, consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed (ING Belgium NV/SA is 100 % owned by ING Bank N.V. which is 100 % owned by ING Groep N.V.);

5.Nordea Bank Abp, filial i Norge, will receive 1,448,957,568 shares and thereby own a total of 1,448,957,568 shares in the Company, equalling 18.2 % of the total issued and outstanding share capital and votes in the Company, consequently the 15 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

6.Skandinaviska Enskilda Banken AB will receive 902,270,692 shares and thereby own a total of 902,270,692 shares in the Company, equalling 11.3 % of the total issued and outstanding share capital and votes in the Company, consequently the 10 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

7.SpareBank 1 SR-Bank ASA will receive 586,145,738 shares and thereby own a total of 586,145,738 shares in the Company, equalling 7.3 % of the total issued and outstanding share capital and votes in the Company, consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed; and

8.Swedbank AB, through Swedbank Norge NUF as custodian shareholder, will receive 636,716,622 shares and thereby own a total of 636,716,622 shares in the Company, equalling 8.0 % of the total issued and outstanding share capital and votes in the Company, consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed,
each based on a total of 7,982,075,598 issued and outstanding shares and voting rights in the Company at the time of completion of the Initial Equitization.
Issuance of the new shares pursuant to the Initial Equitization in the VPS is expected to take place 17 December 2021.

Following the Initial Equitization, a subsequent equitization will take place as soon as possible thereafter (the “Secondary Equitization”), whereby ING Belgium NV/SA, through Nordea Bank AB as custodian shareholder, will receive 19,688,830 shares and thereby own a total of 429,776,030 shares in the Company, equalling 4.9 % of the total issued and outstanding share capital and votes in the Company. ING Belgium NV/SA is 100 % owned by ING Bank N.V. which is 100 % owned by ING Groep N.V. Consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed, based on a total of 8,798,699,789 issued and outstanding shares and voting rights in the Company at the time of completion of the Secondary Equitization.

This information is subject to the disclosure requirement in the Norwegian Securities Trading Act 4 2.

Kilde

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PROSAFE SE – DISCLOSURE OF PURCHASES OF SHARES

Stavanger, 17 December 2021
PROSAFE SE – DISCLOSURE OF PURCHASES OF SHARES

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Two entities managed by HitecVision Advisory AS, North Sea Strategic Investments AS (“North Sea”) and HV VI Invest Sierra Malta Ltd. (“Sierra”) have, today, agreed to purchase a total of 2,446,518,123 shares in Prosafe SE (“Prosafe”).

The shares have been bought from a number of Prosafe’s former financial creditors who received new shares in Prosafe in settlement of their loans as per the Reconstruction Plan for Prosafe which closed on 15 December 2021.

The purchase price is USD 0.003409595 per share which, as per the prevailing exchange rate between USD and NOK, equals NOK 0.030516213.

The terms of the purchases include an obligation not to sell any of the shares acquired for a period of 12 months and an obligation to adjust the purchase price by a further payment from the buyers to the sellers if the buyers, during the next 6 months, purchases further shares from any of Prosafe’s former financial creditors at a higher price than the purchase price.

North Sea already owns 15,479,410 shares in Prosafe whereafter their total holding, following the purchases, will be 1,356,909,633 shares, representing approx. 15.42% of all of the shares in issue in Prosafe.

Sierra already owns 12,752,142 shares in Prosafe whereafter their total holding, following the purchase, will be 1,117,840,042 shares, representing approx. 12.70% of all of the shares in issue in Prosafe.

The combined ownership of Sierra and North Sea will be 2,474,749,675 shares representing approx. 28.13% of the total number of shares in issue in Prosafe. Sierra and North Sea does not hold other shares or rights to shares in Prosafe other than those described in this disclosure.

North Sea and Sierra are represented in the board of directors of Prosafe by Mr. Alf C. Thorkildsen. Mr. Thorkildsen neither owns nor controls any shares in Prosafe.

This information is subject to the disclosure requirements set out in section 4-2 of the Norwegian Securities Trading Act.

Kilde

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PROSAFE SE - SHAREHOLDING DISCLOSURE

PROSAFE SE - SHAREHOLDING DISCLOSURE

17 December 2021
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The entities listed below have today agreed to sell shares in Prosafe SE (the “Company”), whereby their total shareholding and votes in the Company after completion of such transactions will be as set out below:

1. ABN Amro Bank N.V. has agreed to sell all of its 504,848,072 shares (including those to be issued in the further equitization, as announced on 15 December 2021), and will following completion of the sale own no shares and hold no voting rights in the Company, consequently the 5 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

2. Danske Bank A/S has agreed to sell all of its 924,784,964 shares (including those to be issued in the further equitization, as announced on 15 December 2021), and will following completion of the further equitization (as announced on 15 December 2021) and share sale own no shares and hold no voting rights in the Company, consequently the 10 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

3. DNB Bank ASA has agreed to sell 131,980,497 shares, and will following completion of the further equitization (as announced on 15 December 2021) and share sale own a total of 1,306,230,733 shares in the Company, equalling 14.8 % of the total issued and outstanding share capital and votes in the Company, consequently the 15 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed;

4. Nordea Bank Abp, filial i Norge, has agreed to sell 439,934,989 shares, and will following completion of the further equitization (as announced on 15 December 2021) and share sale own a total of 1,072,474,347 shares in the Company, equalling 12.2 % of the total issued and outstanding share capital and votes in the Company, consequently the 15 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed; and

5. Skandinaviska Enskilda Banken AB has agreed to sell 87,986,998 shares, and will following completion of the further equitization (as announced on 15 December 2021) and share sale own a total of 855,504,424 shares in the Company, equalling 9.7 % of the total issued and outstanding share capital and votes in the Company, consequently the 10 % disclosure threshold in the Norwegian Securities Trading Act Section 4 2 has been crossed,

each based on a total of 8,798,699,789 issued and outstanding shares and voting rights in the Company following completion of the equitization of debt in the Company, as announced by the Company on 15 December 2021 and in a major shareholding disclosure made by, among others, the above-mentioned shareholders on 15 December 2021.

Closing of the transactions are expected to take place on or about 21 December 2021.

This information is subject to the disclosure requirement in the Norwegian Securities Trading Act 4 2.

Kilde

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OSLO BØRS – TRADING SUSPENSION

A suspension of trading in Prosafe SE (Ticker PRS) has been imposed in anticipation of an announcement from the company.
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Kilde

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Prosafe SE: Successful financial restructuring

Final step of the financial restructuring to be completed shortly
Reference is made to earlier information provided regarding the financial
restructuring process of Prosafe SE and Prosafe Rigs Pte. Ltd. (“PRPL”). Prosafe
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SE is pleased to announce that the conditions for the Schemes in Singapore for
becoming effectively implemented have been met, following which the Transaction
Effective Date in accordance with the Schemes has occurred.

Following occurrence of the Transaction Effective Date, the conversion of USD
996 million of debt (the “Step 1 Conversion”) in return for 7 894 088 600 shares
in Prosafe SE (the “Tranche 1 Shares”) has been implemented. After the Step 1
conversion, the aggregate amount of 7 894 088 600 shares has today been issued
at a conversion rate of EUR 0.1116. The total number of outstanding shares is
now 7 982 075 598 and the share capital is EUR 399 103 779.90. The share capital
and the shares were registered in the Register of Business Enterprises
(“Foretaksregisteret”) on 16(th) December 2021.

Further, a Step 2 Conversion (the “Step 2 Conversion”) of the remaining USD 91
million debt will be converted within days as part of the restructuring in
return for 816 624 191 shares (the “Tranche 2 Shares”) The conversion rate will
be EUR 0.1113, and EUR 0.0884 for two creditors with separate agreements.

After finalization of the Step 1 Conversion and the Step 2 Conversion, including
original share capital, the aggregate amount of 8,798,699,789 shares will be
issued and the share capital will be EUR 439,934,989.45.

Following finalization of the conversion of the debt contemplated by the Schemes
and the Norwegian restructuring plan, the restructuring has resulted in in a
significant de-leveraging of the balance sheet with ca. 75% debt reduction,
corresponding reduction in annual debt service, ca. USD 60 million in cash per
year-end 2021 and in sum a significantly improved balance sheet and improved
financial flexibility.

Highlights of the completed financial restructuring:

• Significant de-leveraging: ca. USD 1,100 million of total debt reduction.
  Reinstated debt of USD 343 million plus Safe Eurus
• Significant runway and financial flexibility: No mandatory debt maturities
  until December 2025. Only cash-sweep above USD 66 million
• Reduced interest costs: ca. USD 9 million in annual debt servicing costs
  post-transaction
• Liquidity headroom: Liquidity well in excess of agreed minimum cash covenant
  of USD 18 million through 2022, increasing to USD 28 million in 2024.
  Expected liquidity per year end 2021 of ca. USD 60 million
• Positive book equity
• Equitisation and shareholders: Ca. USD 1,100 million of debt has been
  equitized into 99% of Prosafe SE equity

Following the financial restructuring, Prosafe is revitalized and ready to
embark on the next years in pursuit of protecting and creating value.

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

Stavanger, 17 December 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

Kilde

[TekBot]

OSLO BØRS – TRADING RESUMPTION

See announcement from Prosafe SE at 13:39 CET. Trading suspension to end at 14:00 CET.
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Prosafe SE: Financial restructuring completed

Reference is made to earlier information provided regarding the financial
restructuring process of Prosafe SE and Prosafe Rigs Pte. Ltd. (“PRPL”), latest
on 17(th) December 2021.
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Prosafe SE is pleased to confirm that the Step 2 Conversion as described in the
prospectus is today implemented and as such that the financial restructuring is
fully implemented and complete.

After finalization of the Step 1 Conversion and the Step 2 Conversion, including
original share capital, the aggregate amount of 8,798,699,789 shares has been be
issued and the share capital is now EUR 439,934,989.45.

Prosafe SE is looking forward to reporting its revitalized balance sheet in its
Q4 2021 financial report on 10(th) February 2022.

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

Stavanger, 20 December 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

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

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

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Disclosure of Voting Rights in Shares - Prosafe SE

Attachment on www.newsweb.no
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Major shareholder disclosure in Prosafe SE by Danske Bank AS

We hereby declare that after financial restructuring process of Prosafe SE and new trade event Danske Bank A/S as of December 20 have 883,682,474.00 shares corresponding to 10.04 % of the total share capital and the voting rights. Danske Bank A/S has no other shares or rights in Prosafe SE. Danske Bank A/S has no financial exposure in Prosafe SE following the transaction described in this statement. This information is subject to the disclosure requirements set out in the section 5-12 of the Norwegian Securities Trading Act.
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