Prosafe SE — M&A Activity 2019

Sep 16, 2019

Prosafe SE: Update on Merger Process with Floatel – Competition Process

Prosafe SE: Update on Merger Process with Floatel – Competition Process

The Norwegian competition authority ("NCA") has today issued a Statement of

objections to Floatel and Prosafe regarding the proposed merger. Floatel and

Prosafe do not agree with the NCA.

Prosafe and Floatel have already presented remedial measures to the NCA, to

ensure customers on the Norwegian continental shelf have access to sufficient

vessel capacity at short notice, on competitive terms. While some of Norway's

most professional customers are positive, the measures have so far not been

accepted by the NCA.

Prosafe and Floatel will submit responses to NCA's considerations. A final

decision from the NCA is expected towards the end of October.

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 (http://www.prosafe.com/)

Stavanger, 16 September 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?