Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. - Update on Financial Process with Lenders

Reference is made to earlier information provided about the ongoing financial process with lenders, the latest in a press release dated 30th April 2021.

On 30 April 2021, Prosafe SE and Prosafe Rigs Pte. Ltd. had respectively filed HC/OS 422/2021 ("OS 422") and HC/OS 425/2021 ("OS 425") for moratorium protection in Singapore.

As part of the moratorium announced earlier, the Court has fixed a directions hearing for both OS 422 and OS 425, to be held via Zoom on Friday, 7 May 2021 at 3pm Singapore time. Creditors who wish to attend the hearing (either in person or through their solicitors) should inform the solicitors of Prosafe SE and Prosafe Rigs Pte. Ltd. of their intention to do so. Creditors may do so by emailing Mr. Elan Krishna (elan.krishna@cliffordchance.com) and Mr. Loh Tian Kai (tiankai.loh@cliffordchance.com) of Cavenagh Law LLP with their details before 5pm Singapore time on Thursday, 6 May 2021.

Prosafe SE and Prosafe Rigs Pte. Ltd will make the appropriate announcements as and when there are any further material developments on the financial process and the matters above. Please monitor Prosafe SE's website for any announcements or update on the process.

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

Stavanger, 3 May  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