Standard Supply AS — Earnings Release 2024

May 16, 2024

STSU – FIRST QUARTER 2024 FINANCIAL RESULTS

STSU – FIRST QUARTER 2024 FINANCIAL RESULTS

(Oslo, Norway, 16 May 2024)

Standard Supply AS (Standard Supply, OSE:STSU) reported an EBITDA of USD 0.3 million in the first quarter of 2024. The quarterly result was impacted by approximately one month’s downtime on the Company’s only asset; the Standard Supplier, that was back on hire in late January. At quarter end the Group’s consolidated cash position was USD 19.7 million.

On April 3rd 2024 the Standard Supplier was sold for a gross proceeds of USD 22.7 million. The estimated gain to be recognized in the second quarter of 2024 is USD 12.8 million. Following the sale the Company has cash- and working capital of approximately USD 43 million.

The first quarter report is enclosed.

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

standard-supply.com