Paratus Energy Services Ltd.

Share Issue/Capital Change • Sep 25, 2025

Paratus Energy Services Ltd - Secondary Sale of Shares in Archer Limited Completed

Paratus Energy Services Ltd - Secondary Sale of Shares in Archer Limited Completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES,

OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION

WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE

SECURITIES DESCRIBED HEREIN

Hamilton, Bermuda, 25 September 2025

Reference is made to the stock exchange announcement made by Archer Limited

(ticker "ARCH") ("Archer") on 24 September 2025 regarding the successful private

placement of new common shares in Archer (the "Archer Private Placement") and

the successful secondary sale of existing common shares in Archer by Paratus JU

Newco Bermuda Limited, a company wholly owned by Paratus Energy Service Ltd

(ticker "PLSV") ("Paratus" or the "Company") (the "Secondary Sale" and jointly

together with the Archer Private Placement, the "Offering").

Paratus has sold 21,583,826 existing common shares in Archer in the Secondary

Sale, at a price of NOK 22.50 per share, corresponding to gross proceeds in

total of approximately USD 49 million from the Secondary Sale.

Following completion of the Secondary Sale through the delivery of common shares

to applicants, Paratus will not hold any shares in Archer Limited.

Paratus has been a supportive shareholder in Archer since its inception in 2022.

Over the past years, this support has included participation in two capital

raises as well as the conversion of a shareholder loan, enabling Archer to

strengthen its balance sheet and position itself for growth.

As a result of the transaction, the Company's two largest shareholders, Hemen

Holding Limited and Lodbrok Capital LLP, are transitioning their indirect

holding to direct ownership in Archer, thereby ensuring continuity.

"Streamlining our portfolio and simplifying our corporate structure remain key

priorities for Paratus," said Robert Jensen, CEO of Paratus. "This transaction

represents a timely opportunity to monetize a non-core investment, further

enhancing our strategic and financial flexibility. It reflects our priorities as

we continue to assess additional steps to position the company for long-term

value creation. We wish Archer continued success as a leading oilfield services

company."

In line with the agreements for the Company's outstanding notes (due 2026) and

bonds (due 2029), net proceeds from the transaction exceeding USD 30 million

will be applied towards the mandatory partial redemption of Paratus' outstanding

debt.

For further details on the Secondary Sale, please refer to the stock exchange

announcement published by Archer on 24 September 2025, which is available on

ticker "ARCH" on https://newsweb.oslobors.no.

Advisors

Arctic Securities AS, DNB Carnegie, a part of DNB Bank ASA, Pareto Securities AS

and SB1 Markets AS are acting as joint bookrunners in connection with the

Secondary Sale.

Advokatfirmaet Schjødt AS is acting as legal advisor to Paratus in connection

with the Secondary Sale.

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and was published by Baton Haxhimehmedi, CFO of the

Company, on the date and time provided herein.

For additional 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.

Important notice

This announcement is not and does not form a part of any offer to sell, or a

solicitation of an offer to purchase, any securities in the Company or Archer.

Copies of this announcement are not being made and may not be distributed or

sent into any jurisdiction in which such distribution would be unlawful or would

require registration or other measures.

The securities referred to in this announcement have not been and will not be

registered under the U.S. Securities Act of 1933, as amended (the "Securities

Act"), and accordingly may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements of

the Securities Act and in accordance with applicable U.S. state securities laws.

The Company or Archer do not intend to register any part of the Offering in the

United States or to conduct a public offering of securities in the United

States. Any sale in the United States of the securities mentioned in this

announcement will be made solely to "qualified institutional buyers" as defined

in Rule 144A under the Securities Act.

In any EEA Member State, this communication is only addressed to and is only

directed at qualified investors in that Member State within the meaning of the

Prospectus Regulation, i.e., only to investors who can receive the offer without

an approved prospectus in such EEA Member State. The "Prospectus Regulation"

means Regulation (EU) 2017/1129, as amended (together with any applicable

implementing measures) in any Member State.

This communication is only being distributed to and is only directed at persons

in the United Kingdom that are (i) investment professionals falling within

Article 19(5) of the Financial Services and Markets Act 2000 (Financial

Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,

and other persons to whom this announcement may lawfully be communicated,

falling within Article 49(2)(a) to (d) of the Order (all such persons together

being referred to as "relevant persons"). This communication must not be acted

on or relied on by persons who are not relevant persons. Any investment or

investments activity to which this communication relates is available only for

relevant persons and will be engaged in only with relevant persons. Persons

distributing this communication must satisfy themselves that it is lawful to do

so.

The issue, subscription or purchase of shares or other financial instruments in

the Company is subject to specific legal or regulatory restrictions in certain

jurisdictions. Neither the Company, Archer nor the Managers assume any

responsibility in the event there is a violation by any person of such

restrictions. The distribution of this release may in certain jurisdictions be

restricted by law. Persons into whose possession this release comes should

inform themselves about and observe any such restrictions. Any failure to comply

with these restrictions may constitute a violation of the securities laws of any

such jurisdiction.

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 "believe", "expect", "anticipate",

"strategy", "intends", "estimate", "will", "may", "continue", "should" and

similar expressions. Any forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Such assumptions are inherently subject to significant known and

unknown risks, uncertainties, contingencies and other important factors which

are difficult or impossible to predict. 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 Company does not make any guarantee that the assumptions

underlying any forward-looking statements in this announcement are free from

errors nor does it accept any responsibility for the future accuracy of the

opinions expressed in this announcement or any obligation to update or revise

the statements in this announcement to reflect subsequent events. You should not

place undue reliance on any forward-looking statements in this announcement. The

information, opinions and forward-looking statements contained in this

announcement speak only as at its date, and are subject to change without

notice. The Company does not undertake any obligation to review, update,

confirm, or to release publicly any revisions to any forward-looking statements

to reflect events that occur or circumstances that arise in relation to the

content of this announcement.

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

Managers are acting exclusively for the Company and Archer and no one else and

will not be responsible to anyone other than the Company and Archer for

providing the protections afforded to their respective clients, or for advice in

relation to the contents of this announcement or any of the matters referred to

herein. Neither the Managers nor any of their respective affiliates makes any

representation as to the accuracy or completeness of this announcement and none

of them accepts any responsibility for the contents of this announcement or any

matters referred to herein.

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. This announcement is an advertisement and is not a

prospectus for the purposes of the Prospectus Regulation as implemented in any

Member State.