Standard Supply AS: Receives Notice of Cancellation on Standard Supplier

17 Jan 2024 16:30 CET

Reference is made to the stock exchange release on December 12th regarding the
sale of Standard Supplier (“Vessel”). The sale was expected to be completed by
mid-January 2024. Standard Supply AS (“Company”) has received a notice of
cancellation from the Buyer due to the Company not being in a position to
deliver the Vessel according to the Memorandum of Agreement (“MOA”) following
ongoing repair of the Azimuth thruster.

Standard Supplier will therefore remain in the Company’s ownership. The Vessel
has been off hire since late October due to repair on an Azimuth thruster, but
is expected to return on hire on or about January 22nd. The Vessel is chartered
to BP UK at a rate of c. USD 23,500 to June 2024, with options for another three
months reflecting the downtime.

The Company completed the sale of the two large-sized PSVs Standard Viking and
Standard Defender on December 12th and the four mid-sized vessels on December
29th. As previously communicated, following the mentioned sales the intention is
to return capital to shareholders. An update on the timing of these
distributions will be given as part of the fourth quarter 2023 report on
February 15th.


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

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