Notification of Transaction by a Primary Insider

HAMILTON, Bermuda, Nov. 27, 2024 /PRNewswire/ -- Board member and primary insider of Paratus Energy Services Ltd. (ticker "PLSV") (the "Company"), Mark Anthony Lovell Mey, has been awarded 135,000 share options under the Company's long-term incentive plan. The initial strike price is set at NOK 51.7 per share plus a performance addition of 7.5% compound annual growth in the vesting period. The exercise price shall be adjusted for any distribution on the shares made before the relevant options are exercised. The options will have a five-year term and will vest in three tranches over three years with one-third each tranche. The value of each vesting tranche shall be limited to USD 100,000.

For further information, please see the attached mandatory notification of trade for the primary insider.

This information is subject to the disclosure requirements in articles 19 of the Regulation EU 596/2014 (the EU Market Abuse Regulation) and section 5-12 of 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 and a 50/50 JV interest in Seagems (formerly Seabras). Fontis 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.

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SOURCE Paratus Energy Services Ltd