Paratus Announces Receipt of Payment in Mexico
HAMILTON, Bermuda, Nov. 24, 2025 /PRNewswire/ -- Paratus Energy Services Ltd. (ticker "PLSV") ("Paratus" or the "Company"), today announces that its wholly owned subsidiary Fontis Holdings Ltd. (together with its subsidiaries, "Fontis Energy"), has received payment of approximately USD 38 million1 towards overdue invoices from its client in Mexico. This collection represents the second payment from the fund established by the Mexican government to support investment projects and ensure timely payments to suppliers from Fontis Energy's client. Including this receipt, the Company has collected approximately USD 309 million in total, so far in 2025.
The Company continues to actively pursue the collection of its remaining outstanding receivables and remains committed to recovering the full amounts due, consistent with its past practice. While the Company recognizes that the timing of collections may continue to fluctuate, recent payments and ongoing government support initiatives provide greater confidence that the payment cycle is normalizing.
Given these developments, the Company is therefore of the view that receipt of payment from this client going forward will be considered in line with ordinary course of business and hence do not necessarily anticipate providing separate market updates on these receipts outside of its regular quarterly results announcements.
For further information, please contact:
Robert Jensen, CEO
Robert.Jensen@paratus-energy.com
+47 958 26 729
Baton Haxhimehmedi, CFO
Baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083
About Paratus
Paratus Energy Services Ltd. (ticker: 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 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.
Note: (1) Amount includes Mexican standard VAT rate of 16%.
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