(Oslo, Norway, 16 May 2024)

Standard Supply AS (Standard Supply, OSE:STSU) reported an EBITDA of USD 0.3
million in the first quarter of 2024. The quarterly result was impacted by
approximately one month's downtime on the Company's only asset; the Standard
Supplier, that was back on hire in late January. At quarter end the Group's
consolidated cash position was USD 19.7 million.

On April 3rd 2024 the Standard Supplier was sold for a gross proceeds of USD
22.7 million. The estimated gain to be recognized in the second quarter of 2024
is USD 12.8 million. Following the sale the Company has cash- and working
capital of approximately USD 43 million.  

The first quarter report is enclosed. 

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

standard-supply.com

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