Songa Offshore SE : Update on timing of conversion of Class A-shares

Reference is made to previous stock exchange announcements by Songa Offshore SE (the "Company") in connection with the refinancing first announced on 15 March 2016 (the "Refinancing").

Pursuant to the terms of the Refinancing, the Class A-shares delivered to unsecured lenders as part of the debt conversion under the Refinancing will remain as unlisted Class A-Shares until after the Company has published its Q3 2016 interim financial report, as well as a listing prospectus.

The Q3 2016 interim financial report is scheduled to be published on 11 November 2016, and a supplemental listing prospectus is currently expected to be published on or about 15 November 2016. Subject to such publications, it is expected that the Class A-shares will tradable on Oslo Børs as ordinary shares from 16 November 2016.

Further updates will be provided in due course. Until confirmation from the Company through a stock exchange announcement that the conversion have occurred, the Class A-shares cannot be traded on Oslo Børs.

4 November 2016
Limassol, Cyprus