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

Reference is made to the earlier information provided about the ongoing financial process with lenders, the latest in a press release dated 3 May 2021 in relation to a directions hearing to be held before the Singapore Court on Friday, 7 May 2021 at 3pm (Singapore time) (the 'Directions Hearing').

At the Directions Hearing, the Singapore Court gave directions for the timelines leading up to the hearing of Prosafe SE's and Prosafe Rigs Pte. Ltd.'s ('PRPL') applications in HC/OS 422/2021 and HC/OS 425/2021 for moratorium protection in Singapore (the 'Moratorium Applications Hearing') as follows:

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, including when the Singapore Court confirms the Moratorium Applications Hearing date.

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

7 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

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