COSH: Constellation Announces the Occurrence of Qualified Liquidity Event

Luxembourg, 17 August, 2026 - Constellation Oil Services Holding S.A.
("Constellation" or the "Company") announces that its Board of Directors has
confirmed that a Qualified Liquidity Event (the "Qualified Liquidity Event") has
occurred.

The applicable threshold for the Qualified Liquidity Event was met through a
series of block trades, each exceeding US$ 3.0 million, executed following the
announcement of the Company's uplisting. In aggregate, these trades involved a
number of shares representing in excess of 20% of the Company's outstanding
shares.

As a result of the occurrence of the Qualified Liquidity Event:

o	The Company's Management Incentive Plan ("MIP"), comprising the Board Pool and
the Performance Unit Pool (which covers management and eligible employees), has
been triggered; and
o	Warrants issued under the Company's existing agreements may become exercisable
in accordance with their terms.

Following the confirmation of the Qualified Liquidity Event:

o	Under the MIP, the aggregate settlement attributable to the Board Pool and the
Performance Unit Pool will comprise US$24.1 million in cash and 714,619
restricted stock units ("RSUs"), representing the right to receive 1 Common
Shares with an aggregate reference value of approximately US$10.7 million and
corresponding to 0.85% of the Company's total outstanding shares. The RSUs will
vest and be settled in Common Shares after 12 months, in accordance with their
terms; and
o	Under the Company's warrants, an aggregate of up to 3,316,344 net shares
(representing 3.93% of the Company's total shares) may be issued to warrant
holders, as further detailed in Company's prospectus.

For purposes of determining the aggregate number of shares and amount of cash
payable under the MIP, the applicable total enterprise value ("TEV") is US$1,691
million.

"Back in 2022, at the time of the restructuring, the Company's shareholders
structured the MIP and the warrants, aligning the interests of management, key
employees and the shareholders who supported its restructuring. Since then, the
Company achieved a full recovery, a healthy balance sheet, a listing on
Euronext, and now liquidity for shareholders through significant trading volumes
in the capital markets. This milestone reflects how far the Company has come
since 2022, creating value for current shareholders and rewarding the confidence
of the stakeholders who supported its recovery.," said Rodrigo Ribeiro, CEO of
Constellation.

Issuance and Settlement of the shares and amounts above will be implemented in
due course in accordance with the terms of the relevant plans and agreements,
and mandatory regulatory announcements will be made as required.

About Constellation 

Constellation is a market leading provider of offshore oil and gas contract
drilling services through its subsidiary Serviços de Petróleo Constellation S.A.
("Serviços de Petróleo Constellation"). With continuous operations since 1981,
Serviços de Petróleo Constellation has built an unmatched reputation for
excellence in offshore drilling services, obtaining ISO 9001, ISO 14001, ISO
45001, and API Spec Q2 certifications for its quality management, environmental
and safety records and systems. 

NOTICE REGARDING FORWARD-LOOKING STATEMENTS 

This press release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to be covered by
the safe harbor created by such sections and other applicable laws. Where the
Company expresses or implies an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and believed to
have a reasonable basis. However, such statements are subject to risks,
uncertainties and other factors, which could cause actual results to differ
materially from future results expressed, projected or implied by the
"forward-looking statements." The Company undertakes no obligation to release
publicly revisions to any "forward-looking statement," including, without
limitation, outlook, to reflect events or circumstances after the date of this
news release, or to reflect the occurrence of unanticipated events, except as
may be required under applicable securities laws. Investors should not assume
that any lack of update to a previously issued "forward-looking statement"
constitutes a reaffirmation of that statement. Continued reliance on
"forward-looking statements" is at investors' own risk.
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constitutes a reaffirmation of that statement. Continued reliance on\
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