Summary of Paratus Energy's 2026 Annual General Meeting Highlights and Decisions

Paratus Energy Services Ltd.: Insights from the 2026 AGM

On May 12, 2026, Paratus Energy Services Ltd. conducted its Annual General Meeting (AGM) in Hamilton, Bermuda. This pivotal gathering brought together shareholders to discuss significant company matters, culminating in notable resolutions impacting its leadership and operations.

Meeting Highlights

The AGM commenced at 10:15 AM, during which the audited consolidated financial statements for the fiscal year ending December 31, 2025, were presented. These documents provided a snapshot of Paratus Energy’s financial health amidst an evolving energy sector.

The assembly passed several key resolutions:
1. Board Composition: The maximum number of Directors appointed to the Board was set to eight, ensuring a streamlined governance structure.
2. Filling Casual Vacancies: The Board received the authority to designate and fill any casual vacancies that may arise, enhancing operational flexibility.
3. Re-elections of Directors: Shareholders re-elected James Ayers, Joachim Bale, Mark Mey, and Dag Skindlo to serve as Directors, reflecting trust in their leadership.
4. Audit Firm Reappointment: KPMG AS was reappointed as the company’s auditor, reinforcing the commitment to transparent financial practices. Additionally, the Board was granted the authority to determine their fees.
5. Board Remuneration: The total remuneration for the Board was approved, not exceeding $600,000 for the fiscal year ending December 31, 2026.

Amidst these decisions, a significant personnel development was also noted. Mei Mei Chow, a long-standing Director and integral to the company’s journey since inception, was not re-elected. Her departure marks the end of an era, particularly as she played a vital role in the company’s restructuring and successful listing on the Euronext Oslo Stock Exchange. The Board and the company expressed their gratitude for her invaluable contributions over the years, wishing her success in her future endeavors.

Company Overview

Paratus Energy Services Ltd., listed on the Oslo Stock Exchange under the ticker PLSV, stands as a pivotal investment hub for a group of leading energy services companies. Among its prominent holdings is Fontis Energy, an offshore drilling entity featuring a fleet of five high-specification jack-up rigs operating in Mexico. Additionally, the company maintains a joint venture interest in Seagems, a leading subsea services provider based in Brazil.

As Paratus Energy moves forward post-AGM, it aims to navigate the energy sector with strategic acumen while ensuring that its operations and governance structure align with the evolving industry landscape. The Board's decisions reflect a commitment to maintaining strong leadership and operational integrity, addressing both current challenges and future opportunities in energy services.

For more information, shareholders and interested parties can reach out to Baton Haxhimehmedi, CFO and Interim CEO, at [email protected] or via phone at +47 4063 9083.

About Paratus
Paratus Energy Services Ltd. is premier investment holding company operating across the energy services sector, with a concentrated vision on creating value through various strategic holdings, primarily in offshore drilling and subsea service operations.