Tidewater replaces Wilson Sons guarantees on BNDES loans; rates rise to 3.21%-3.77%, collateral ratio 130%

TIDEWATER INC

Effective Oct 1, 2026, BNDES Construction Loans amended: Wilson Sons and Remolcadores parent guarantees terminated and Tidewater Inc. substituted as guarantor.
Interest rates raised to 3.21% for Credit Facility Agreements Nos. 07.2.0417.1, 07.2.0418.1, 12.2.0433.1, 12.2.0434.1 and 3.77% for No. 10.2.1621.1.
Collateral coverage ratio increased to 130% for all BNDES Construction Loans; acceleration provisions updated, including change of control without lender consent.
Replacement LCs from DNB Bank ASA up to USD $170,458,000 cancelled effective October 2, 2026, following replacement of guarantees.
Amendments tied to Tidewater's Aug 31, 2026 acquisition of Wilson Sons Ultratug Participações S.A. (now Tidewater Offshore do Brasil S.A.) and Atlantic Offshore Services S.A.

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