Prosafe SE: Terje Askvig appointed as CEO in Prosafe SE

The Board of Directors of Prosafe has appointed Terje Askvig as new CEO. He will start in his new position latest on 1^st November 2023. Reese McNeel will continue as interim CEO until that date.

Terje Askvig has experience from shipping, oil service, family office and private equity.  For the last 11 years, he has been Operating Partner and Senior Advisor in Triton Partners, a leading European private equity firm. Before joining Triton Partners, Mr. Askvig worked as CEO of Eitzen Chemical for five years and seven years in Fred. Olsen & Co, including Managing Director of Fred. Olsen Renewables. Mr. Askvig also worked five years as CEO in London for BT Shipping Ltd and for a family office, Pausco.

During his period as partner with Triton Partners, he was Chairman/Board member of DeepOcean, Chairman and "deal Captain” of Nordic Tankers and Herning Shipping (Denmark), as well as holding directorships on various other Triton related companies. In addition to his board positions at Triton Partners, he has also served or is serving on the board of OSM Thome Group and Avarn Security Group, as well as chairing the nomination committee of Höegh Autoliners.

Glen Rødland, Chairman, says: "The Board is pleased that Terje has accepted to become CEO of Prosafe SE. He has a unique background as CEO and Chairman in several companies and has very relevant, strategic, financing and transaction experience from Private Equity in addition to his operational experience. Terje’s experience and track record fits well with Prosafe’s strategic agenda in a volatile short term and clearly improving market for high end offshore accommodation. The Board is confident that Terje will complement and strengthen the existing executive team in Prosafe.”

Reese McNeel will continue as CFO from 1^st of November after leading the company as interim CEO. The Board would like to thank Reese for his strong leadership in this period.

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 https://www.prosafe.com

Stavanger, 27 July 2023
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 the Norwegian Securities Trading Act.