Prosafe SE: Chairman of the Board resigns

Ronny Johan Langeland has decided to resign as Chairman of the Board of Prosafe SE with effect from 28 September 2015 solely due to health reasons.

The Board will convene an extraordinary general meeting on 23 October to elect a new director as Chairman. The Election Committee has notified the Board that it recommends Mr Harald Espedal as a replacement for Mr Langeland. Deputy Chairman Christian Brinch will act as Chairman until a new Chairman is elected.

Mr Langeland has been a Director of the Board of Prosafe since 2002 and Chairman since May 2014. Prosafe would like to express its gratitude to Mr Langeland for his significant contributions during his term of office as Director and Chairman.

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, 29 September 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

Stig Harry Christiansen, Chief Financial Officer
Prosafe Management AS
Phone: +47 51 64 25 17