DOLPHIN DRILLING Limassol,November 9th 2023 S.D. Standard ETC Plc (Standard ETC, OSE:SDSD) reports net profit after tax ofUSD 18.4 million in the third quarter of 2023 (Q322 USD 2.2 million). The company is a leading shareholder inDolphin Drilling AS (Dolphin Drilling , OSE:DRILL) andStandard Supply AS (Standard Supply, OSE:STSU). Martin Nes, Standard ETC's Board Chairman, comments: "Our financial results are mainly driven by positive share price developments forDolphin Drilling and Standard Supply, culminating in a combined unrealized gain ofUSD 17.8 million . Additionally, our ETC portfolio, which includes investments in other equities and credits, yielded a gain ofUSD 1.0 million ". "Following acquisition of the rig Paul B Lloyd, expected to be closed inDecember 2023 ,Dolphin Drilling will have secured a substantial confirmed revenue backlog plus options. Moreover,Dolphin Drilling is working hard to secure more work for its rig fleet and we are observing positive developments in the drilling markets worldwide.". "Standard Supply intends to distribute a total ofNOK 0.5 per share in the third quarter of 2023. With theUK spot market currently being at a high level, there is a solid foundation for upcoming time charter negotiations. The fleet is well-positioned to capitalize on this opportunity, as four out of seven vessels are to become available for new charters in the upcoming months", Nes added. As an investment entity, Standard ETC does not consolidate its subsidiaries. The company reported a net profit after tax ofUSD 18.4 million in the third quarter of 2023, mainly reflecting unrealized gains ofUSD 17.8 million from the investments in DDRIL and STSU. The company had a cash position ofUSD 31.2 million at the end of the quarter, excluding cash held by subsidiaries. The company's stakes inDolphin Drilling and Standard Supply are evaluated at the quarter-end share prices. Attached are the company presentation and the Board of Directors' report. ENDS For further information, please contact: General Manager,Evangelia Panagide at +357 99 77 11 16 Chairman of the Board Martin Nes at +47 92 01 48 14 About Standard-ETC | standard-etc.com S.D. Standard ETC is an investment company founded in 2010. The company holds a concentrated investment portfolio including a 53% ownership inStandard Supply AS (Euronext Growth: STSU) and a 19% ownership in the listed drilling companyDolphin Drilling AS (Euronext Growth DDRIL). S.D. Standard ETC is headquartered inCyprus and listed on theOslo Stock Exchange under the ticker SDSD.
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