Standard Supply AS: Sale of FS Balmoral for USD 9.5 million

20 Sep 2023 18:42 CEST

Oslo, Norway, September 20th 2023

Standard Supply AS (Standard Supply, OSE: STSU) is pleased to report the sale of
the mid-sized PSV FS Balmoral for USD 9.5 million. The transaction is expected
to close during the month of September 2023. FS Balmoral is owned by Northern
Supply AS, where Standard Supply has an ownership of 51%.

“When we increased our ownership in Northern Supply from 28% to 51% in June
2022, the purchase price of FS Balmoral was USD 6 million. Today we are
realizing a 60% higher price. After factoring in earnings during this time and
costs from the 5-year SPS this summer, our total returns stand at an estimated
75%. Staying true to our strategy, we intend to return this capital to our
shareholders promptly” says Martin Nes, Chairman of the Board of Standard Supply
and Northern Supply AS.

As previously reported, the Company achieved time charter equivalent earnings
(TCE) of USD 17,700 per day in July and USD 16,900 per day in August. The
company will provide a third quarter trading update and distribution
announcement during October month.

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

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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