Standard Supply AS — Earnings Release 2023

Oct 23, 2023

Standard Supply AS: Q3 2023 Trading Update and Intended Dividend Resolution

Standard Supply AS: Q3 2023 Trading Update and Intended Dividend Resolution

Oslo, Norway, October 23rd 2023

Based on a preliminary review of the financial figures for the three months ending September 30th 2023, Standard Supply AS (the “Company”, and together with its consolidated subsidiaries, the “Group”) expects to report time charter equivalent revenues of USD 12.2 million and an EBITDA of USD 6.4 million in the third quarter of 2023. At the end of the quarter the Group’s consolidated net cash and working capital stood at USD 14.9 million and USD 11.5 million when adjusting for ownership.

The Board of Directors has further resolved to propose a distribution of NOK 0.50 per share reflecting the operational result in the quarter and the sale of FS Balmoral for USD 9.5 million which was 51% owned by Standard Supply.

“We are distributing NOK 0.50 per share in the third quarter. Since inception last summer we have now distributed c. 1/3rd of our IPO price. We remain committed to securing favorable long-term charters for our fleet. Presently, both the North Sea and international markets are tighter than usual for this part of the year. We anticipate concluding some of these ongoing discussions by year's end.” states Martin Nes, Chairman of the Board of Standard Supply.

The full Q3 2023 report will be released on November 16th, 2023.

ENDS

For further information, please contact:

CEO Espen L. Fjermestad at +47 95 20 44 93

Chairman of the Board Martin Nes at +47 92 01 48 14

About Standard Supply | standard-supply.com

Standard Supply owns a fleet of seven platform supply vessels (PSVs); three large-sized and four medium-sized PSVs with 51% ownership interest. Standard Supply has a clear ambition of returning excess cash to its shareholders.