Hamilton, Bermuda, June 28, 2024 - Paratus Energy Services Ltd. ("Paratus" or
"Company"), today announced its successful listing on Euronext Growth Oslo ("the
"Listing") under the ticker symbol "PLSV". This milestone marks a significant
step in the Company's growth strategy and improves its ability to pursue its
strategic objectives. Trading in the Company's shares will commence today at
09:00 CEST.

The listing follows a private placement of 15,309,059 new shares (the
"Offering"), priced at NOK 51.66 per Share (equivalent to USD 4.90 based on the
official exchange rate of Norges Bank on Friday June 21, 2024), which raised
gross proceeds of the NOK equivalent of USD 75 million. The Offering was more
than ten times oversubscribed, attracting strong interest from domestic and
international investors. The net proceeds from the Offering will be used for
general corporate purposes and to increase balance sheet flexibility.
 
Paratus enters the public market with a robust financial foundation. The Company
boasts a strong cash flow profile, industry leading backlog position in
attractive market segments, and an efficient capital structure, allowing for
immediate and significant distributions to shareholders: 
- Exceptional Cash Flow Profile: Paratus has significant cash flow generating
capabilities today, with a strong cash position of USD 126 million plus
marketable securities of USD 41 million . Additionally, there is an expected
unwinding of a substantial receivable balance of USD 222 million1 at Fontis
following an irregular build-up due to the client's need for supplier
re-certification arising from the separation from Seadrill.
- Industry Leading Backlog: Paratus' strong cash flows are underpinned by its
significant backlog position (USD 1.5 billion1, ) at attractive EBITDA margins.
The current market outlook is supportive of continued dayrate appreciation.
- Attractive Capital Structure: Paratus maintains an efficient and flexible
capital structure.  The Company recently completed a highly successful USD 500
million bond raise, one of the largest Nordic raises in recent times. Following
the bond raise, the majority of its debt maturities are not due until 2029. The
debt agreements offer high flexibility on distributions, growth, and additional
subsidiary level debt capacity.

The Company remains focused on implementing an efficient capital allocation
policy and delivering strong and stable shareholder returns.

Robert Jensen, Chief Executive Officer of Paratus, said: "Today's listing on
Euronext Growth is a pivotal moment for Paratus and a testament to the hard work
and dedication of our entire team. Our assets have a long-term track record of
generating significant cash flows, and we expect to maintain that trajectory
with our recent contract awards. The listing will further strengthen our strong
financial foundation with enhanced access to capital markets. We remain
committed to operational excellence and pursuing opportunities that will drive
long-term growth and shareholder returns."

Mei Mei Chow, Chair of the Board of Paratus, added: "Our public listing
represents more than just a financial achievement