Paratus Energy Services Ltd. Launch of an Offer to Buy Back Own Shares

28 Feb 2025 07:15 CET

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN UNITED STATES,
CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION IN WHICH THE DISTRIBUTION OR
RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES.

Hamilton, Bermuda, February 28, 2025: Reference is made to the stock exchange
announcement from Paratus Energy Services Ltd. (ticker "PLSV") ("Paratus" or the
"Company") on 20 February 2025 regarding the launch of an offer to buy back own
shares for an amount in NOK equivalent to approximately $20 million ("the
Offer"). The Company has engaged ABG Sundal Collier ASA (the "Manager") to
assist with the Offer.

The Offer will be conducted as a reverse bookbuilding process in which all
shareholders in the Company are invited to offer shares at a price level defined
by the respective selling shareholder by contacting the Manager (see contact
details below).

The final purchase price per share will be determined by the Company at its sole
discretion based on the sales orders received. The final purchase price will be
identical for all selling shareholders.

The reverse bookbuilding period commences today, 28 February 2025, at 09:00
hours (CET) and is expected to close at 16:30 hours (CET) on 4 March 2025.
Notification of allocation and pricing is expected to be made before 09:00 hours
(CET) on 5 March 2025 (T), and settlement is expected to take place on or about
7 March 2025 (T+2) through a delivery versus payment transaction (DVP).

As the Offer is expected to be conducted prior to the ex-date for the USD 0.22
dividend (announced separately by the Company today), shareholders participating
in the Offer will not be entitled to receive the dividend declared on February
28, 2025, on shares sold.

Existing shareholders in the Company wishing to participate in the Offer can
contact the Manager at +47 22 01 60 28 or +44 207 905 5622 in order to place a
sales order. Existing shareholders in the Company who would like to participate
in the Offer who are not registered as clients of the Manager must establish a
client relationship before participating.

In the event that the total volume offered by selling shareholders at or below
the final purchase price in the Offer exceeds the Offer size, the allocation
will, to the extent possible, be made on a pro rata basis based on the volume
offered by each selling shareholder, with the objective of treating all
shareholders equally based on their indicated interest in participating in the
Offer at or below the final purchase price. The selling shareholders will be
bound to sell any amount up to the offered number of shares on the offered terms
if and at such time the offer is accepted by the Company, irrespective of
whether the Company decides to purchase a lower number of shares from a selling
shareholder than offered for sale by the respective shareholder.

The Company reserves the right to, at its own discretion, amend the Offer size
or reject received orders. The Company may further, at its sole discretion
terminate or withdraw the Offer at any time until the time of completion of the
Offer.

The two largest shareholders of Paratus, Hemen Investments Ltd. and Lodbrok
Capital LLP on behalf of funds and accounts managed or advised by it, have
informed the Company that they do not intend to participate in the Offer.

For further information, please contact:
Robert Jensen, CEO
robert.Jensen@paratus-energy.com
+47 958 26 729

Baton Haxhimehmedi, CFO
baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083
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 Energy and a 50/50 JV interest in Seagems.
Fontis Energy 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 Euronext
Børs.
IMPORTANT NOTICE
The Offer will be carried out in accordance with applicable laws and regulations
and information pertaining to the Offer will be disclosed by way of stock
exchange notices.

The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions
(including, but not limited to, the United States, Canada, Australia and Japan).
None of the Company or the Manger assume any responsibility in the event there
is a violation by any person of such restrictions. This includes shareholders
who have changed their domicile to such jurisdictions but which may access their
VPS accounts. Persons into whose possession this announcement or relevant
information should come are required to inform themselves about and to observe
any such restrictions.

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