Standard Supply AS — Earnings Release 2022

Jan 10, 2023

Standard Supply AS: Commercial update for December 2022

Standard Supply AS: Commercial update for December 2022

Oslo, Norway, January 10th 2023

In December 2022, Standard Supply AS (Standard Supply) achieved a utilization of 73% and effective time charter equivalent earnings of approximately USD 10,200 per day. The Company’s operating cash breakeven is around USD 7,300 per day.

Presently Standard Supply has eight PSVs trading in the UK market and one in West Africa. Four vessels are on term business at an average rate of c. USD 15,000 per day. Although the current spot market is yielding earnings around operating costs, term rates has continued to improve with mid-sized vessels now offered in the mid- to high teens while rates for larger tonnage starts in the low twenties according to Clarksons.

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 nine platform supply vessels (PSVs); three large-sized, one medium-sized and five medium-sized PSVs with 51% ownership interest. Standard Supply will actively seek further growth opportunities and is well positioned to capture improvements in the market with most of the fleet trading in the spot market. The company has a clear ambition to return excess cash to its shareholders.