Update on the merger process with Floatel International

Reference is made to press release dated 28 October 2019, in which Prosafe informed that the Norwegian Competition Authority had issued a Statement of rejection regarding the proposed merger between Prosafe and Floatel International.

Prosafe has filed its appeal to this decision and will continue its efforts to get clearance in Norway.

In the UK, the process with the Competition and Markets Authority is in Phase 2 and more specific information is anticipated to be available in the course of the first quarter of 2020.

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, 25 November 2019
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