Songa Offshore SE : Mandatory Notification of Trade

Reference is made to the press release as of 14 November 2014 regarding incentive programs established for employees. Songa Offshore SE (the "Company") has on 24 November 2016 purchased 5,336,000 shares for the Employees Discounted Share Purchase Plan. The shares have been acquired at an average purchase price of 0.20 per share.

On behalf of primary insider and CEO in Songa Offshore SE, Bjørnar Iversen, the Company has purchased 345,000 shares. Mr. Iversen's holding following this transaction is 5,331,474 shares in addition to 19,195,000 restricted stock units.

On behalf of primary insider and CFO in Songa Offshore SE, Jan Rune Steinsland, the Company has purchased 345,000 shares. Mr. Steinsland's holding following this transaction is 2,915,560 shares in addition to 14,053,000 restricted stock units.

Before distribution to the employees, the Employee Discounted Share Purchase Plan has 5,336,000 shares.

25 November 2016

Limassol, Cyprus