Prosafe SE: Commencement of the subscription period in the subsequent offering

December 4, 2023

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN CANADA, JAPAN, AUSTRALIA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange announcement by Prosafe SE (the “Company” or “Prosafe”) on 29 November 2023 announcing the submission of a prospectus dated 29 November 2023 (the “Prospectus”) and the subsequent offering (the “Subsequent Offering”) of up to 1 333 333 new shares (the “Offer Shares”) in the Company, at a subscription price of NOK 60 per share.

The subscription period in the Subsequent Offering commences today, on 4 December 2023 at 09:00 hours (CET), and ends on 15 December 2023 at 16:30 hours (CET).

The Subsequent Offering is directed towards shareholders in the Company as of 25 October 2023 (as registered in the Norwegian Central Securities Depository (the “ESO”) two trading days thereafter, on 27 October 2023 (the “Record Date”) who (i) were not included in the wall-crossing phase of the Private Placement, (ii) were not allocated Offer Shares in the Private Placement, and (iii) are not resident in a jurisdiction where such offering would be unlawful or would (in jurisdictions other than Norway) require any prospectus, filing, registration or similar action (the “Eligible Shareholders”).

Eligible Shareholders will be granted 0.491935 non-transferable Subscription Rights for every existing share in the Company registered as held by such Eligible Shareholder as of the Record Date. Each whole Subscription Right will, subject to applicable securities laws, give the right to subscribe for and be allocated one Offer Share in the Subsequent Offering. The allocation criteria are set out in the Prospectus. Neither over-subscription nor subscription without subscription rights will be permitted.

Please see the Prospectus for more information about the Subsequent Offering. The Prospectus, including a subscription form, is made electronically available at www.paretosec.com/transactions and www.sb1markets.no/transaksjoner/

ADVISORS

Pareto Securities AS and SpareBank 1 Markets (the “Managers”) acts as managers in the Subsequent Offering.

Ro Sommernes advokatfirma DA is acting as legal advisor to the Company.

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, 4 December 2023
Prosafe SE

For further information, please contact:

Terje Askvig, CEO
Phone: +47 952 03 886

Reese McNeel, CFO
Phone: +47 415 08 186

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

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