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2017-02-09

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
towww.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.

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Prosafe SE via Globenewswire

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