Paratus Announces Receipt of Payment in Mexico

24 Nov 2025 07:00 CET

Hamilton, Bermuda, November 24, 2025 - Paratus Energy Services Ltd. (ticker
"PLSV") ("Paratus" or the "Company"), today announces that its wholly owned
subsidiary Fontis Holdings Ltd. (together with its subsidiaries, "Fontis
Energy"), has received payment of approximately USD 38 million[1] towards
overdue invoices from its client in Mexico. This collection represents the
second payment from the fund established by the Mexican government to support
investment projects and ensure timely payments to suppliers from Fontis Energy's
client. Including this receipt, the Company has collected approximately USD 309
million in total, so far in 2025.

The Company continues to actively pursue the collection of its remaining
outstanding receivables and remains committed to recovering the full amounts
due, consistent with its past practice. While the Company recognizes that the
timing of collections may continue to fluctuate, recent payments and ongoing
government support initiatives provide greater confidence that the payment cycle
is normalizing

Given these developments, the Company is therefore of the view that receipt of
payment from this client going forward will be considered in line with ordinary
course of business and hence do not necessarily anticipate providing separate
market updates on these receipts outside of its regular quarterly results
announcements.

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 in Mexico. Seagems is a leading subsea services
company, with a fleet of six multi-purpose pipe-laying support vessels in
Brazil.

Note: (1) Amount includes Mexican standard VAT rate of 16%.

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