Paratus Energy Services Ltd.

Capital/Financing Update • Nov 18, 2025

Paratus Energy Services Ltd. Announces Results of Cash Tender Offer for up to $17,607,991 Senior Secured Notes due 2026

Paratus Energy Services Ltd. Announces Results of Cash Tender Offer for up to $17,607,991 Senior Secured Notes due 2026

Hamilton, Bermuda, November 18, 2025 - Reference is made to the announcement

made by Paratus Energy Services Ltd., (ticker "PLSV") ("Paratus" or the

"Company") on October 15, 2025 regarding the Company's offer to purchase for

cash up to an aggregate principal amount of $17,607,991 Senior Secured Notes due

2026 (CUSIPs 81173J AC3, G8000A AH6 and 81173J AD1; ISINs US81173JAC36,

USG8000AAH61 and US81173JAD19) (the "Notes") (the "Purchase Cap") governed by

that Amended and Restated Indenture, dated as of January 20, 2022 (as

subsequently amended and supplemented, the "Indenture") at the repurchase price

of 103% of the principal amount of such Notes (the "Tender Offer Consideration")

(the "Tender Offer") (the "Announcements").

The Tender Offer is made upon the terms and subject to the conditions described

in the Offer to Purchase, dated October 15, 2025 (as amended or supplemented

from time to time, the "Offer to Purchase"), which sets forth a detailed

description of the Tender Offer.

As set out in the Offer to Purchase, withdrawal rights for the Notes tendered

expired at 5:00 p.m. New York city time, on November 3, 2025. The Tender Offer

expired at 5:00 p.m. New York city time, on November 14, 2025 (the "Expiration

Time").

All conditions relating to the Tender Offer as set out in the Offer to Purchase

were satisfied or waived by the Company at the Expiration Time.

Further to the Announcements, the Company today announces the results and

acceptance of Notes tendered pursuant to the Tender Offer on a prorated basis.

As of the Expiration Time, according to information provided by Global

Bondholder Services Corporation, the tender and information agent for the Tender

Offer, a total of $159,165,392 in aggregate principal amount of Notes were

validly tendered and not validly withdrawn in accordance with the Tender Offer.

As the aggregate principal amount of the Notes validly tendered and not validly

withdrawn on or prior to the Expiration Time exceeds the Purchase Cap, the

Company accepts for purchase the Notes tendered on a prorated basis applying the

proration rate of approximately 0.1106.

Only holders of Notes who validly tendered and did not validly withdraw their

Notes on or prior to the Expiration Time are eligible to receive the Tender

Offer Consideration for Notes accepted for purchase. All holders of Notes

accepted for purchase in the Tender Offer will receive accrued and unpaid

interest on such Notes from the latest interest payment date with respect to

such Notes to, but not including, the date of purchase. The date of purchase

shall be no later than 19 November 2025.

The Company intends to fund the purchase of validly tendered and accepted Notes

with the net cash proceeds from the Archer Transaction announced on September

25, 2025.

The current principal amount of the Notes is approximately $215.5 million.

Following the purchase of $17.6 million in principal amount of the Notes

pursuant to the Tender Offer, the remaining balance will be $197.9 million.

This announcement constitutes the public announcement of the results of the

Tender Offer as required by Section 4.10(i)(v) of the Indenture.

Information relating to the Tender Offer

Global Bondholder Services Corporation is the Tender and Information Agent for

the Tender Offer. Any questions regarding procedures for tendering Notes or

request for copies of the Offer Purchase should be directed to Global Bondholder

Services Corporation by any of the following means: by telephone at 855-654-2014

(toll free) or 212-430-3774 (banks and brokers) or by email at contact@gbsc

-usa.com.

Holders are advised to check with any bank, securities broker or other

intermediary through which they hold the Notes as to when such intermediary

needs to receive instructions from a holder in order for that holder to be able

to participate in, or revoke their instruction to participate in, the Tender

Offer, before the deadline specified herein and in the Offer to Purchase.

This press release does not constitute an offer to sell or purchase, or a

solicitation of an offer to sell or purchase, or the solicitation of tenders

with respect to, the Notes. No offer, solicitation, purchase or sale will be

made in any jurisdiction in which such an offer, solicitation or sale would be

unlawful. The Tender Offer is being made solely pursuant to the Offer to

Purchase made available to holders of the Notes. None of the Company or its

affiliates, their respective boards of directors, the dealer manager, the Tender

and Information agent or the Trustee with respect to the Notes is making any

recommendation as to whether or not holders should tender or refrain from

tendering all or any portion of their Notes in response to the Tender Offer.

Holders are urged to evaluate carefully all information in the Offer to

Purchase, consult their own investment and tax advisors and make their own

decisions whether to tender Notes in the Tender Offer, and, if so, the principal

amount of Notes to tender.

Defined terms used in this announcement which are not otherwise herein defined

have the meaning set out in the Indenture.

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.

For further information about Paratus, please contact:

Baton Haxhimehmedi, CFO

baton.Haxhimehmedi@paratus-energy.com

+47 406 39 083

Forward-Looking Statements

This release includes forward-looking statements. Such statements are generally

not historical in nature, and specifically include statements about the

Company's and / or the Paratus Group's (including any member of the Paratus

Group) plans, strategies, business prospects, changes and trends in its business

and the markets in which it operates. These statements are based on management's

current plans, expectations, assumptions and beliefs concerning future events

impacting the Company and / or the Paratus Group and therefore involve a number

of risks, uncertainties and assumptions that could cause actual results to

differ materially from those expressed or implied in the forward-looking

statements, which speak only as of the date of this news release. Important

factors that could cause actual results to differ materially from those in the

forward-looking statements include management's reliance on third party

professional advisors and operational partners and providers, the Company's

ability (or inability) to control the operations and governance of certain joint

ventures and investment vehicles, oil and energy services and solutions market

conditions, subsea services market conditions, and offshore drilling market

conditions, the cost and timing of capital projects, the performance of

operating assets, delay in payment or disputes with customers, the  ability to

successfully employ operating assets, procure or have access to financing,

ability to comply with loan covenants, liquidity and adequacy of cash flow from

operations of its subsidiaries and investments, fluctuations in the

international price of oil or alternative energy sources, international

financial, commodity or currency market conditions, including, in each case, the

impact of pandemics and related economic conditions, changes in governmental

regulations, including in connection with pandemics, that affect the Paratus

Group, increased competition in any of the industries in which the Paratus Group

operates, the impact of global economic conditions and global health threats,

including in connection with pandemics, our ability to maintain relationships

with suppliers, customers, joint venture partners, professional advisors,

operational partners and providers, employees and other third parties and our

ability to maintain adequate financing to support our business plans, factors

related to the offshore drilling, subsea services, and oil and energy services

and solutions markets, the impact of global economic conditions, our liquidity

and the adequacy of cash flows for our obligations, including the ability of the

Company's subsidiaries and investment vehicles to pay dividends, political and

other uncertainties, the concentration of our revenues in certain geographical

jurisdictions, limitations on insurance coverage, our ability to attract and

retain skilled personnel on commercially reasonable terms, the level of expected

capital expenditures, our expected financing of such capital expenditures, and

the timing and cost of completion of capital projects, fluctuations in interest

rates or exchange rates and currency devaluations relating to foreign or U.S.

monetary policy, tax matters, changes in tax laws, treaties and regulations, tax

assessments and liabilities for tax issues, legal and regulatory matters,

customs and environmental matters, the potential impacts on our business

resulting from climate-change or greenhouse gas legislation or regulations, the

impact on our business from climate-change related physical changes or changes

in weather patterns, and the occurrence of cybersecurity incidents, attacks or

other breaches to our information technology systems, including our rig

operating systems. Consequently, no forward-looking statement can be guaranteed.

Neither the Company nor any member of the Paratus Group undertakes any

obligation to update any forward-looking statements to reflect events or

circumstances after the date on which such statement is made or to reflect the

occurrence of unanticipated events. New factors emerge from time to time, and it

is not possible for us to predict all of these factors. Further, we cannot

assess the impact of each such factors on our businesses or the extent to which

any factor, or combination of factors, may cause actual results to be materially

different from those contained in any forward-looking statement.