HAMILTON, Bermuda, July 17, 2026 /PRNewswire/ -- Paratus Energy Services Ltd. (OSLO: PLSV) ("Paratus" or the "Company") refers to its announcement dated 23 March 2026 regarding the sale of Fontis' drilling operations and jack-up fleet (the "Transaction").

Paratus is pleased to announce that it has received clearance from the board of commissioners of the Mexican Competition Authority to proceed with the completion of the Transaction. Closing of the Transaction remains subject to the remaining customary conditions precedent and closing processes and is expected to occur during Q3 2026. The Company will provide further updates as appropriate.

About Paratus

Paratus Energy Services Ltd. (OSLO: 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 (held for sale) 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 additional information, please contact:
Baton Haxhimehmedi, Interim CEO & CFO
baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083

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