Helix Announces Redemption of Its 6.75% Convertible Senior Notes Due 2026

Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it has delivered a notice to the trustee for its 6.75% Convertible Senior Notes due 2026 (the “Notes”) under which it has called all of the outstanding Notes for redemption on March 20, 2024 (the “Redemption Date”). The redemption price for the Notes is equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date, plus the applicable make-whole premium. As of January 16, 2024, the aggregate principal amount of the Notes outstanding is $39,983,000.

The Notes may be converted at any time before the close of business on March 18, 2024, the second business day immediately preceding the Redemption Date, unless the Company fails to pay the redemption price. The Notes would be convertible into shares of Helix’s common stock at a rate of 143.3795 shares per $1,000 principal amount of the Notes. However, Helix has elected to deliver cash to satisfy its entire conversion obligation upon any conversion of the Notes. Holders who wish to convert their Notes must comply with the requirements set forth in the Notes and related indenture.

The address of The Bank of New York Mellon Trust Company, N.A., which is acting as the paying agent and the conversion agent, is as follows:

By First Class / Registered / Certified Mail		By Express / Overnight Delivery		By Hand or In Person
The Bank of New York Mellon Trust Company N.A. c/o BNY Mellon Corp Trust 2001 Bryan Street 10th Floor Dallas, Texas 75201 Attention: Transfers/Redemptions		The Bank of New York Mellon Trust Company N.A. c/o BNY Mellon Corp Trust 2001 Bryan Street 10th Floor Dallas, Texas 75201 Attention: Transfers/Redemptions		The Bank of New York Mellon Trust Company N.A. c/o BNY Mellon Corp Trust 2001 Bryan Street 10th Floor Dallas, Texas 75201 Attention: Transfers/Redemptions

The Company also intends to enter into unwind agreements with financial institutions to terminate the remaining portions of the capped call transactions entered into in connection with the issuance of the Notes. Under such unwind agreements, the Company currently expects such financial institution would deliver to the Company cash in respect of the remaining portions of the transactions being early terminated.