Constellation Announces Listing on Euronext Growth Oslo

06 Mar 2025 07:00 CET

OSE NOTIFICATION/PRESS RELEASE

Constellation Announces Listing on Euronext Growth Oslo

THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM A PART OF ANY OFFER OF SECURITIES
FOR SALE OR A SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF THE COMPANY IN
THE UNITED STATES OR ANY OTHER JURISDICTION. NOT FOR PUBLICATION, DISTRIBUTION
OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE
UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"),
AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S
REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION,
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Luxembourg, March 6, 2025 – Constellation Oil Services Holding S.A.
(“Constellation” or “the Company”) today announces its successful listing on
Euronext Growth Oslo under the ticker symbol “COSH”. Trading of the Company's
shares will begin today at 09:00 CET.

Constellation is a leading offshore oil and gas drilling services provider in
Brazil, holding about one-fifth of the country’s offshore drilling market. With
1,800 employees and a 45-year track record, the company has established a strong
position in Brazil—the largest and fastest-growing segment of the global
offshore drilling industry. Constellation is currently the leader of Petrobras’
ranking of drilling contractors and offers an efficient cost position due to its
scale, operating all its rigs under one single hub in Brazil.

Constellation’s shares will trade under the ticker COSH, marking a significant
step in the Company’s growth trajectory and reinforcing its commitment to
governance, transparency and sustainable growth.

“The listing on Euronext Growth Oslo is a significant milestone for
Constellation and reflects the confidence that investors have in our business
model, operational efficiency and cash generation capacity. With a robust
backlog of approximately USD 2.1 billion, we ensure financial predictability and
opportunities for sustainable growth,” said Rodrigo Ribeiro, CEO of
Constellation.

The Company’s capital allocation and financial strategy is focused on
prioritizing debt reduction, dividend payment upon deleveraging, and maintaining
flexibility to pursue value-adding growth opportunities.

The Company completed a robust recapitalization and refinancing process in
December 2024, reducing its debt to USD 650 million with maturity in 2029 and
maintaining a cash balance of over USD 180 million.

Constellation has 1,519,918,308 outstanding shares and has not raised capital as
part of the listing. The listing on Euronext Growth is for a portion of
Constellation’s total shares that are registered in Euronext Securities Oslo
(VPS) through Norwegian Depository Receipts (NDRs).

Advisers

Clarksons Securities AS is acting as Euronext Growth Advisor to the Company in
connection with the listing.
Advokatfirmaet Thommessen AS is acting as legal counsel to the Company, while
Advokatfirmaet BAHR AS is acting as legal due diligence adviser.

For further information, please contact:

Media:
Geir Bjørlo, Corporate Communications
geir.bjorlo@corpcom.no
+47 915 40 000

Investor Relations Phone:
+352 20 20 2401
ir@theconstellation.com
www.theconstellation.com/ir

IR Team:
Monique Fares / mfares@theconstellation.com
João Gabriel Ratton / jratton@theconstellation.com

About Constellation

Constellation is a market-leading provider of offshore oil and gas contract
drilling services through its subsidiary Serviços de Petróleo Constellation S.A.
(“Serviços de Petróleo Constellation”). With continuous operations since 1981,
Serviços de Petróleo Constellation has built an unmatched reputation for
excellence in offshore drilling services, obtaining ISO 9001, ISO 14001, ISO
45001, and API Spec Q2 certifications for its quality management, environmental
and safety records and systems.

IMPORTANT NOTICE

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date, and are
subject to change without notice.

This announcement is made by, and is the responsibility of, the Company.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company.

The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Persons into whose possession this announcement or
such other information should come are required to inform themselves about and
to observe any such restrictions.

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