Prosafe SE

Board/Management Information • Feb 9, 2017

Prosafe SE: Prosafe completes reorganisation and strengthens the management team

Prosafe SE: Prosafe completes reorganisation and strengthens the management team

Prosafe is pleased to announce certain changes to its management team.  Mr.

Jesper Kragh Andresen was today appointed as Chief Executive Officer (CEO) and

Mr. Stig H. Christiansen as Deputy CEO and Chief Financial Officer (CFO) of

Prosafe Management AS. Ms. Georgina Georgiou will continue as General Manager of

the parent company Prosafe SE.

From 2012 and until recently, Mr. Andresen was CEO in Axis Offshore. Prior to

this he was President of Lauritzen Offshore and Managing Director of J.

Lauritzen Singapore. Mr. Andresen holds an Executive MBA from INSEAD,

France/Singapore, and a Masters degree in law from University of Copenhagen.

Mr. Christiansen joined the company as CFO in August 2015 and has been Acting

CEO since April 2016. Prior to this he was CEO in add energy group since 2008.

Mr. Christiansen holds an MBA from Aalborg in Denmark, and a BCom from

University of Birmingham, England.

Mr. Robin T.D. Laird is appointed Deputy CFO in Prosafe Offshore Limited while

Mr. Eirik Fjelde is appointed Chief Information Officer in Prosafe AS. Mr. Ian

Young continues as Chief Operations Officer and Mr. Ryan Stewart continues as

Chief Commercial Officer.

"The company has been through a fundamental financial restructuring and has

implemented substantial efficiency measures and cost reductions during the past

year. Further cost measures are being implemented during 2017. Prosafe will now

focus even more toward the external market and on improving the supply side of

the industry" says Mr. Glen Rødland, Chairman of Prosafe SE.

"The Board is very pleased with the work and the results delivered by Stig

Christiansen to Prosafe during the restructuring/transition last year. The

strengthening of the management team and the employment of Jesper Kragh Andresen

as CEO in Prosafe SE is the next step in preparing for the next phase in

reaching Prosafe's goal to regain profitability, add shareholder value and to be

a leading player in the offshore accommodation industry. The new management

structure with Jesper and Stig sharing responsibilities and reporting to the

Board will create a complementary team with increased capacity to enable the

company to best achieve the Board's ambitious plans for the next years. The new

management team balances both continuity and renewal" says Mr. Rødland.

The new organisation will be effective 1 March 2017.

Prosafe is a leading owner and operator of semi-submersible accommodation

vessels. The company is headquartered in Larnaca, Cyprus and listed on the Oslo

Stock Exchange with ticker code PRS. For more information, please refer to

www.prosafe.com

Larnaca, 9 February 2017

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Glen Ole Rødland, Chairman

Prosafe SE

Phone: +47 907 41 662

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.