HAMILTON, BERMUDA (By Paratus, 18.Nov.2025, Words: 482) — Reference is made to the announcement made by Paratus Energy Services Ltd. on 15 Oct. 2025 regarding the company’s offer to purchase for cash up to an aggregate principal amount of $17,607,991 Senior Secured Notes due 2026 (CUSIPs 81173J AC3, G8000A AH6 and 81173J AD1; ISINs US81173JAC36, USG8000AAH61 and US81173JAD19) governed by that amended and restated indenture, dated as of 20 Jan. 2022 (as subsequently amended and supplemented, the “indenture”) at the repurchase price of 103% of the principal amount of such notes.
The tender offer is made upon the terms and subject to the conditions described in the offer to purchase, dated 15 Oct. 2025 (as amended or supplemented from time to time, the “offer to purchase”), which sets forth a detailed description of the tender offer.
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As set out in the offer to purchase, withdrawal rights for the Notes tendered expired at 5:00 p.m. New York city time, on 3 Nov. 2025. The tender offer expired at 5:00 p.m. New York city time, on 14 Nov. 2025 (the “expiration time”).
All conditions relating to the tender offer as set out in the offer to purchase were satisfied or waived by the company at the expiration time.
Further to the announcements, the company today announces the results and acceptance of notes tendered pursuant to the tender offer on a prorated basis.
As of the expiration time, according to information provided by Global Bondholder Services Corporation, the tender and information agent for the tender offer, a total of $159,165,392 in aggregate principal amount of notes were validly tendered and not validly withdrawn in accordance with the tender offer.
As the aggregate principal amount of the notes validly tendered and not validly withdrawn on or prior to the expiration time exceeds the purchase cap, the company accepts for purchase the notes tendered on a prorated basis applying the proration rate of approximately 0.1106.
Only holders of notes who validly tendered and did not validly withdraw their notes on or prior to the expiration time are eligible to receive the tender offer consideration for notes accepted for purchase. All holders of Notes accepted for purchase in the tender offer will receive accrued and unpaid interest on such notes from the latest interest payment date with respect to such Notes to, but not including, the date of purchase. The date of purchase shall be no later than 19 Nov. 2025.
The company intends to fund the purchase of validly tendered and accepted notes with the net cash proceeds from the Archer transaction announced on 25 Sep. 2025.
The current principal amount of the notes is approximately $215.5mn. Following the purchase of $17.6mn in principal amount of the notes pursuant to the tender offer, the remaining balance will be $197.9mn.
This announcement constitutes the public announcement of the results of the tender offer as required by Section 4.10(i)(v) of the Indenture.
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