Oslo, Norway, October 5th 2023 

In September 2023, Standard Supply AS (Standard Supply) achieved time charter
equivalent earnings (TCE) of approximately USD 15,600 per day, with a
utilization rate of 96%. The decrease in the TCE from August was primarily due
to seven days of off-hire work on the Standard Defender in preparation for a new
contract. In late September the vessel began its new contract in West Africa at
USD 22,500 per day and is expected to return to the North Sea in Q2 2024. 

"This week we have extended contracts for both the FS Braemar and FS
Kristiansand by one month at a rate of USD 18,000 per day. Currently, we're
seeing a surge in tendering activity for 2024, characterized by less competitive
bidding and rising rate expectations. Our aim is to secure multiple
time-charters in the upcoming months, further improving our dividend capacity",
states Martin Nes, Chairman of the Board of Standard Supply.

He added, "The North Sea market is unusually tight for this time of the year.
The Norwegian market is sold out, while rates in the UK is around USD 25,000 per
day. Internationally, Petrobras has released several tenders in the past
fortnight, seeking up to 20 PSVs for early 2024 start-up. This could lead to
more tonnage departing the North Sea". 

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)