Paratus Energy Services Ltd - Update Regarding SeaMex Group

Hamilton, Bermuda, September 1, 2022 – Paratus Energy Services Ltd (“Paratus”) announces today that its wholly owned subsidiary SeaMex Holdings Ltd (“SeaMex”) and its subsidiaries (“SeaMex Group”) has elected an incremental early repurchase of the SeaMex Finance Ltd 12% Senior Secured Notes Due August 2024 (the “Notes”). On August 31, 2022, $25.0 million aggregate principal amount of the Notes (the “Repurchased Notes”) were repurchased for an aggregate cash repurchase price of approximately $28.0 million comprised of principal repayment, accrued interest, and call premium (the “Repurchases”). Following the closing of the Repurchases, SeaMex Finance Ltd cancelled the Repurchased Notes, leaving approximately $44 million aggregate principal amounts of Notes outstanding.

SeaMex will continue to opportunistically evaluate its capital allocations, which may include incremental Repurchases in the future.

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