Oslo, Norway, July 31th 2023
 
Based on a preliminary review of the financial figures for the three months
ending 30 June 2023, Standard Supply AS (the "Company", and together with its
consolidated subsidiaries, the "Group") expects to report time charter
equivalent revenues of USD 12.5 million and an EBITDA of USD 5.9 million in the
second quarter of 2023. At the end of the quarter, the Group's consolidated net
cash and working capital stood at USD 15.3 million.  
 
The Board of Directors further intends to resolve a dividend distribution of NOK
0.20 per share reflecting the operational result in the quarter inclusive of the
drydocking of the FS Balmoral. 

In addition, the Board of Directors intends to resolve a distribution of an
additional NOK 0.50 per share from the sale of Standard Duke for USD 11 million
that is expected to conclude by mid-August. Key information relating to such
dividend distributions will be published when the relevant corporate resolutions
(pursuant to the Board authorization granted in the annual general meeting held
on 15 June 2023) have been made.
 
"We are distributing a total of NOK 0.70 per share in the second quarter of
2023, or nearly 15% of our current market capitalization. Our focus remains on
being opportunistic in the sale and purchase (S&P) and identifying attractive
long-term charters for our vessels both in the North Sea and internationally"
states Martin Nes, Chairman of the Board of Standard Supply.
 
For our large-sized vessels, we continue to see 1-year charters providing
distribution capacity of approximately NOK 0.30 per share per vessel. Further
improving the potential dividend capacity, the Company will have limited capital
expenditures through 2024 with only one mid-sized vessel up for 5-year survey,
"Nes concludes. 
 
The full Q2 2023 report will be released on August 24th, 2023. 
 
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 eight platform supply vessels (PSVs)