Approval of Long-term Incentive Plan, Mandatory Notification of Trade

10 Sep 2024 08:00 CEST

Hamilton, Bermuda, 10 September 2024 – The Board of Dirctor’s of Paratus Energy
Services Ltd. (ticker “PLSV”) (“Paratus” or the “Company”) has today approved a
long-term incentive plan (the "Plan"). The Plan is structured in the form of a
share option program targeted at members of the executive management and
selected board members. The initial strike price is set at NOK 51.7 per share
which aligns with the share price of the Initial Public Offering (“IPO”) plus a
performance addition of 7.5% compound annual growth in the vesting period. For
any future grants under the Plan, the strike will be set at the discretion of
the Board of Directors. The exercise price shall be adjusted for any
distribution on the shares made before the relevant options are exercised. The
options will have a five-year term and will vest in three tranches over three
years with one-third each tranche.

The following primary insiders have been awarded options under the Plan:

• Robert Jensen, CEO has been awarded 420,000 options, divided into three
tranches of 140,000 options per tranche at the initial strike price of NOK 51.7.
The value of each Vesting tranche shall be limited to USD 200,000.
• Baton Haxhimehmedi, CFO, has been awarded 225,000 options, divided into three
tranches of 75,000 options per tranche at the initial strike price of NOK 51.7.
The value of each Vesting tranche shall be limited to USD 150,000.

Please find attached the mandatory notification of trade for the primary
insiders.

This information is subject to the disclosure requirements in articles 19 of the
Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of the
Norwegian Securities Trading Act.

About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company of
a group of leading energy services companies. The Paratus Group is primarily
comprised of its ownership of Fontis and a 50/50 JV interest in Seagems
(formerly Seabras). Fontis is an offshore drilling company with a fleet of five
high-specification jack-up rigs working under contracts in Mexico. Seagems is a
leading subsea services company, with a fleet of six multi-purpose pipe-laying
support vessels under contracts in Brazil. In addition, Paratus is the largest
shareholder in Archer Ltd, a global oil services company, listed on the Oslo
Stock Exchange.

More information:
Access the news on Oslo Bors NewsWeb site

627358_PDMR Form - Robert Jensen.pdf
627358_PDMR Form - Baton Haxhimehmedi.pdf