STANDARD SUPPLY Oslo, Norway ,November 15th 2022 Standard Supply AS (Standard Supply, OSE:STSU) reported an EBITDA ofUSD 4.8 million in the third quarter of 2022, up fromUSD 0.1 million in the same quarter in 2021, and a net profit ofUSD 3.0 million (-1.6 million). The time charter equivalent earnings were approximatelyUSD 15,600 per day and the utilization was 96% based on availability. Standard Supply has a solid financial position and reiterates the market outlook. "Since the IPO we have nearly doubled our earnings capacity through investing more thanUSD 35 million into modern PSV tonnage. These acquisitions have been done at 50-65% discount to replacement cost, and with the recent improvements in time charter rates we are seeing payback periods as short as two to three years," says Martin Nes, Chairman of theBoard of Standard Supply . Standard Supply reported revenues ofUSD 9.7 million in the third quarter 2022, up fromUSD 2.8 million in the same quarter in 2021, and an EBITDA ofUSD 4.8 million (0.1 million), following time charter equivalent earnings ofUSD 15,600 per day and a utilization of 96% based on availability. The company was incorporated in 2022, and historical figures refers to companies prior to the capital reorganization. At the end of the third quarter 2022 the company held cash ofUSD 25.1 million . After the closing of the quarter, Standard Supply raised approximatelyNOK 200 million in a private placement for further growth in the PSV segment. The offering was significantly oversubscribed. "In October around 30 term deals were concluded in theNorth Sea , representing a three-fold increase from September. This is clearly indicating that charterers are looking to firm up capacity ahead of the new season. Standard Supply has fixed out the FS Kristiansand for 1-year in a charter that will generate more thanUSD 3 million of EBITDA. Moreover, the Standard Defender has secured a strong rate ofUSD 18,500 per day for a winter campaign of approximately 140 days inWest Africa , before returning to theNorth Sea in the spring of 2023. With the growing rig count in theUK , we remain upbeat about the outlook for the year ahead," Nes concludes. The third quarter report- and presentation is enclosed. ENDS For further information, please contact: CEOEspen 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); three large-sized, one medium-sized commencing operations inNovember 2022 and five medium-sized PSVs with 51% ownership interest. Standard Supply will actively seek further growth opportunities and is well positioned to capture improvements in the market with most of the fleet trading in the spot market. The company has a clear ambition to return excess cash to its shareholders.
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