SDSD: THIRD QUARTER 2022 FINANCIAL RESULTS

11 Nov 2022 08:00 CET

NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS
SUBSIDIARIES.

(Limassol, 11 November 2022) S.D. Standard ETC Plc (Standard ETC, OSE:SDSD)
reported a net profit after tax of USD 2.2 million in the third quarter of 2022,
up from negative USD 2.7 million in the same quarter last year. The company
successfully listed Standard Supply AS (Standard Supply, OSE:STSU) in the
period, with the subsequent listing of Dolphin Drilling AS (Dolphin Drilling,
OSE:DDRIL) providing a solid outlook.

“We have successfully listed Standard Supply and Dolphin Drilling, providing a
strong platform for value creation for our shareholders. To reiterate the key
investments highlights for Dolphin Drilling, the company holds attractive
assets, a strong team and a solid platform to leverage on the favorable market
development with improved rates. In addition, Standard Supply has announced
strong utilization and increasing time charters for its vessels during the
period. We believe both companies will capitalize on the continued expected
tight offshore market,” says Martin Nes, Chairman of the Board of Standard ETC.

Standard ETC is an investment company and is not consolidating the subsidiaries.
The company reported a profit after tax of USD 2.2 million in the third quarter
of 2022, up from negative US 2.7 million, following a positive development in
the investment companies. The company’s ownership in Dolphin Drilling and
Standard Supply is valued on a market basis at the end of each quarter.

After the closing of the quarter, Dolphin Drilling was successfully listed on
Euronext Growth, following the share issue of USD 45 million and the
commencement of Blackford Dolphin’s 12-month USD 96 million contract in the
fourth quarter of 2022.

In addition, Standard Supply recently announced a successful private placement
of new shares in the company of approximately NOK 200 million. The company
intends to use the net proceeds to fund further fleet growth in the PSV segment
and for general corporate purposes.

The Board of Directors report and the company presentation are enclosed.

ENDS

For further information, please contact:
CFO, Christos Neokleous at +357 99 53 11 93
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 portfolio including Standard Supply AS (OSE: STSU) and Dolphin
Drilling AS (OSE: DDRIL). Standard ETC is headquartered in Cyprus and is listed
on Oslo Stock Exchange with the ticker code SDSD.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Espen Lundaas, on 11 November
2022 at 08:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

575479_SDSD_OSE Notification_3Q 22.pdf
575479_SDSD_ 3Q 22 Report.pdf
575479_SDSD_3Q 22 Presentation.pdf