Oslo, Norway, June 6th 2023 

In May 2023, Standard Supply AS (Standard Supply) achieved time charter
equivalent earnings (TCE) of approximately USD 14,900 per day and utilization of
94% based upon availability. During the month FS Balmoral had two weeks off-hire
associated with a 5-year SPS. 

"On June 1st the Standard Supplier commenced its 1-year charter at USD 23,000
per day. Our present fleet coverage extends through to November 2023 with an
average daily rate of USD 17,000 per day", states Martin Nes, Chairman of the
Board of Standard Supply.

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. The recent charter on the Standard Supplier showcases the
strong fundamentals now playing out in the PSV market. This contract alone will
increase our distribution capacity with approximately NOK 0.3 per share over the
coming twelve months" states Martin Nes, Chairman of the Board of Standard
Supply. 

The company will provide a second quarter trading update and dividend proposal
during July month. 

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)