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").

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 https://www.prosafe.com/investor-information/.

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

Attachment

• Prosafe - Prospectus - 14 December 2021