(Oslo, Norway, 15 February 2024)

Standard Supply AS (Standard Supply, OSE:STSU) reported an EBITDA of USD 1.5
million in the fourth quarter of 2023. Time charter equivalent earnings (TCE)
were USD 16,900 per day and the utilization was 100% based on availability. This
excludes off hire from Standard Supplier after October 27th and reflects the
transfer of ownership during the quarter for the Standard Defender, Standard
Viking and the four mid-sized vessels. The Board of Directors has declared a
dividend distribution of NOK 2.75 per share for the fourth quarter of 2023. 

"Standard Supply is distributing NOK 2.75 per share in the fourth quarter of
2023, reflecting liquidity at hand. Around 95% of the IPO has now been
distributed since the Company was listed in July of 2022. After this
distribution, there is currently a remaining value of approximately NOK 2.5 per
share in the company, split c. 50/ 50 between cash and market value of the
remaining vessel Standard Supplier. The Company will actively seek to maximize
the remaining value for shareholders", says Martin Nes, Chairman of the Board of
Standard Supply. 

The Company reported an EBITDA of USD 1.5 million in the fourth quarter of 2023,
up from USD 1.2 million in the same quarter of 2022. At the end of the quarter
the Group's consolidated net cash and working capital stood at USD 90.3 million
and USD 69.7 million when adjusting for ownership

As previous disclosed in a stock exchange release 17 January 2024, the sale of
Standard Supplier was cancelled due to delays of the repair of the Azimuth
thruster. Hence Standard Supplier is the remaining vessel owned by STSU and the
vessel was back on hire with BP UK at a rate of USD 23,500 per day end of
January 2024.

Based on the fourth quarter results and the authorization to distribute
dividends given to the Board of Directors on the annual general meeting, the
Board of Directors has passed a resolution to distribute dividends of NOK 2.75
per share through reduction of other paid-in equity with an ex. date in late
February and payment in early March. Further information will be given in due
course.

The fourth 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