Paratus Energy Services Ltd.

Capital/Financing Update • Jul 8, 2024

Partial redemption of Senior Secured Notes due 2026

Partial redemption of Senior Secured Notes due 2026

Hamilton, Bermuda, July 8, 2024 – Reference is made to the announcement on 5 June 2024 made by Paratus Energy Services Ltd. (the "Company" or "Paratus") (ticker code: PLSV), available on the Company's website (www.paratus-energy.com) regarding the successful placement of USD 500 million new senior secured bonds (the "Bonds" or "Bond Issue").

The Company is pleased to announce that the proceeds from the Bond Issue have now been released from escrow and the full amount has been used to partially refinance the Company's existing USD 715 million notes (the "Notes"). As a result, the remaining aggregate principal amount under the Notes is now approximately USD 215 million.

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

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 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 Energy and a 50/50 JV interest in Seagems (formerly Seabras). 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 Oslo Stock Exchange. For further information visit www.paratus-energy.com