Update on the merger process with Floatel International

Reference is made to press release dated 25 November 2019 in which Prosafe informed that the process with the Competition and Markets Authority (CMA) in the UK was in Phase 2 and that more specific information was anticipated to be available in the course of the first quarter of 2020.

Today, the CMA has issued their provisional findings which conclude that blocking the merger may be the only way to mitigate their concerns.

Prosafe will study the conclusions and supporting arguments in detail ahead of the deadline for responding by 20 February.

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 www.prosafe.com

Stavanger, 30 January 2020
Prosafe SE

For further information, please contact:

Glen Ole Rødland, Chairman of Prosafe: + 47 907 41 662
Jesper K. Andresen, CEO of Prosafe: Phone: +47 51 64 25 30 / +47 907 65 155

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