Grant of share options

As part of the Company’s long-term incentive program, the Board of Directors approved a share option program for part of the senior management team.

The strike price for all options awarded is NOK 109.13 per share. The vesting period is three years, vesting one-third after 12 months, one-third after 24 months and one-third after 36 months. Options expire after 48 months.

• The new CEO, Terje Askvig who will join the Company on 1 November 2023, was granted 220,000 share options with first vesting on 1 November 2024. Following the grant, Terje Askvig owns 220,000 share options and zero shares
• Reese McNeel, CFO was granted 20,000 options with first vesting on 1 November 2024. In addition, he has 100,000 options with a strike price of NOK146.50 with first vesting on 18 August 2024. He holds now a total of 120,000 share options and 750 shares
• Andrew Manson (CTO), Dawn Penny (HR & Crewing Director) and Alfredo Silveira Passos (General Manager Brazil) were granted 20,000 options each with first vesting on 1 November 2024 and hold now a total of 20,000 share options and zero shares each

The Board also decided to change the strike price on 80,000 options awarded to certain employees on 11 May 2022 from NOK 178 per share to NOK 109.13 per share. The vesting period for these options is four years, vesting one-third after 24 months, one-third after 36 months and one-third after 48 months. These options expire after 60 months. Eirik Fjelde (CIO) and Claudio Pereira (COO) each hold 20,000 such options.

The options earlier granted to the previous CEO, Jesper K. Andresen, were cancelled in connection with his resignation.

Please find attached the notifications for persons discharging managerial responsibilities in accordance with Regulation EU 596/2014 (MAR) article 19 and section 5-12 of the Norwegian Securities Trading Act.

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

Stavanger, 25 October 2023
Prosafe SE

For further information, please contact:

Reese McNeel, CFO
Phone: +47 415 08 186

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