Extraordinary General Meeting completed and Subsequent Offering cancelled

Pursuant to the Notice of 9 June 2023, an Extraordinary General Meeting of Prosafe SE was held today, 30 June 2023. The Extraordinary General Meeting resolved to approve all matters as proposed in the Notice. The minutes from the Extraordinary General Meeting are attached and can be downloaded from www.newsweb.no (http://www.newsweb.no) and www.prosafe.com with direct link https://www.prosafe.com/investor-information/corporate-governance/general-meetings/extraordinary-general-meeting-2023/

Further reference is made to the stock exchange announcement of 10 May 2023 regarding a completed private placement (the “Private Placement”) and a potential subsequent offering of up to 427 350 shares (the “Subsequent Offering”), both at NOK 117 per share (the “Subscription Price”).

The Company’s shares have for an extended period traded below the Subscription Price, which is also currently the case. Since the announcement of the Subsequent Offering, the total traded volume at prices at or below the Subscription Price is above the number of shares to be offered in the Subsequent Offering and therefore sufficient to allow existing shareholders who did not participate in the Private Placement and who are eligible to participate in the Subsequent Offering the opportunity to reduce the dilutive effect of the Private Placement at trading prices at or below the Subscription Price. The board of directors of the Company has therefore decided not to proceed with the Subsequent Offering.

As a result, the board of directors will not be utilizing the approved board authorization to issue up to 427 350 new shares for the purposes of the Subsequent Offering that was approved at the Extraordinary General Meeting today.

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

30 June 2023
Prosafe SE

For further information, please contact:

Glen Ole Rødland, Chairman of Prosafe SE
Phone: +47 907 41 662

Reese McNeel, Interim CEO
Phone: +47 47 51 64 25 17 / +47 415 08 186

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