Paratus Energy Services Ltd.

Paratus Announces Receipt of Payment in Mexico

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

+47 958 26 729

Baton Haxhimehmedi, CFO

+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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