Paratus Energy: Announces Leadership Change

17 Apr 2026 17:00 CEST

Hamilton, Bermuda, April 17, 2026 - Paratus Energy Services Ltd. (ticker PLSV)
("Paratus" or the "Company") today announces that the Company's Board of
Directors has accepted the resignation of Robert Jensen from his role as Chief
Executive Officer (CEO). Mr. Jensen will also be stepping down as a member of
the Board of Directors of the Company but will remain available in an advisory
capacity for a period to support an orderly transition.

The Board has appointed Baton Haxhimehmedi, Chief Financial Officer (CFO), as
Interim Chief Executive Officer. Mr. Haxhimehmedi joined Paratus as CFO in June
2024 and has over 15 years of experience within the upstream oil and gas
industry. He has held several finance leadership roles at DNO ASA and has an
audit background from Ernst & Young and KPMG primarily working with
international upstream oil and gas clients. Mr. Haxhimehmedi will serve as both
CFO and interim CEO during a transitional period.

In light of the Company's recently announced sale of Fontis's drilling
operations and jack-up fleet, the Board is currently reviewing the Company's
organizational and corporate structures. Upon completion of the Fontis sale,
Paratus will be the world's only pure play pipelay support vessels (PLSV)
business with a fully contracted fleet in a resilient and infrastructure-linked
segment, providing strong earnings visibility. The PLSV activities continue to
be managed by a strong operational team in Seagems, led by its CEO, Rogerio
Salbego.

Mei Mei Chow, the Chairperson of Paratus commented: "Since joining in 2022, Mr.
Jensen has led Paratus through its separation from Seadrill, the sale of its
stake in Archer and the agreed divestment of Fontis, while strengthening the
Company's financial position through a 2024 refinancing and listing on Euronext
Oslo Stock Exchange, and establishing a robust shareholder distribution model
with quarterly dividends. On behalf of the Paratus Board, I would like to thank
Robert for his leadership and contribution throughout his tenure. We are pleased
that Baton will step in as the Interim CEO and we have full confidence in his
ability to perform the role. "

Robert Jensen, outgoing CEO of Paratus, commented: "I would like to thank my
colleagues across the Paratus Group for their dedication throughout this
journey. The Company is now a focused energy services company with a strong
balance sheet and a solid foundation for profitable growth. I believe this is
the right time for me to step down and pursue new opportunities, and I am
confident the Company is well positioned with a strong team and committed
owners."

For additional information, please contact:

Baton Haxhimehmedi, Interim CEO
baton.Haxhimehmedi@paratus-energy.com
+47 4063 9083

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.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements in section
5-12 of the Norwegian Securities Trading Act. The stock exchange announcement
was published by Baton Haxhimehmedi, Interim CEO, at the time and date stated
above in this announcement.

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