Prosafe SE: Management change

Sven Børre Larsen has decided to resign from his position as Chief Financial Officer of Prosafe Management AS to take on the role as Chief Financial Officer in TGS-NOPEC Geophysical Company in Asker, Norway. The last day of employment is yet to be decided.

"I would like to thank Sven Børre Larsen for his efforts during his tenure at Prosafe. Mr. Larsen has contributed greatly to the progress of the company, and we wish him the best of luck in his new role," says Karl Ronny Klungtvedt, CEO of Prosafe Management AS.

A process of finding Mr. Larsen's replacement has been initiated.

Prosafe is the world's leading owner and operator of semi-submersible accommodation vessels. Operating profit reached USD 248.3 million in 2014 and net profit was USD 178.8 million. The company operates globally, employs 800 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Larnaca, 27 May 2015

Georgina Georgiou, General Manager

Prosafe SE

For further information, please contact:

Karl Ronny Klungtvedt, Chief Executive Officer

Prosafe Management AS

Phone: +47 51 64 25 00

Sven Børre Larsen, Chief Financial Officer

Prosafe Management AS

Phone: +47 909 43 673

Cecilie Helland Ouff, Senior Manager Finance and Investor Relations

Prosafe AS

Phone: +47 991 09 467

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