Oslo, Norway, June 1st 2023 

Standard Supply AS (Standard Supply, OSE: STSU) is pleased to report a 1-year
time charter for the Standard Supplier at c. USD 23,000 per day to a major oil
company in the North Sea. The contract is due to commence on June 1st and
includes an additional six months of options at approximately USD 31,000 per
day. 

"As long-term contracts are approaching unprecedented highs, our focus remains
on identifying attractive deals not only in the North Sea but also on an
international scale, with particularly Brazil and West Africa showing signs of
being completely sold out of capacity", says Martin Nes, Chairman of the Board
of Standard Supply. "Our present fleet coverage extends through to November 2023
with an average daily rate of USD 17,000 per day. The Standard Supplier's
contract alone will increase our distribution capacity with approximately NOK
0.3 per share over the coming twelve months". 

Martin Nes further adds, "This agreement exemplifies the robustness of the
current charter market, with current earnings resulting in paybacks in less than
three years. Our larger PSV vessels are trading at an implied value of around
USD 16 million, while this contract is projected to produce roughly USD 5.5
million of EBITDA".

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)