STANDARD SUPPLY Oslo, Norway ,November 14th 2023 Standard Supply AS (Standard Supply, OSE: STSU) is pleased to report an en-bloc sale ("Transaction") of the three large sized PSVs Standard Viking, Standard Supplier and Standard Defender for a grossUSD 72.2 million by entering Memorandum of Agreement for sale of each vessel. Adjusting for ownership, proceeds to Standard Supply will be grossUSD 69.5 million . The Transaction is contingent upon certain conditions to be lifted within end-November, and completion is expected no later thanmid-January 2024 . Martin Nes, Chairman of Standard Supply, comments; "Standard Supply was always intended to be an asset play with an opportunistic approach towards the market. We have seen a robust recovery within the PSV market since the IPO in 2022, and opting to realize our gains at this juncture aligns with our strategy. As with previous sales, we intend to return capital to our shareholders". Following the sale, the Company will control a fleet of four PSVs with 51% ownership interest. Three of the four vessels are on short-term contracts and available for new charters in the upcoming months. 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 seven platform supply vessels (PSVs); three large-sized and four 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. The company has a clear ambition to return excess cash to its shareholders.
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