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

(Limassol, 11 May 2023) S.D. Standard ETC Plc (Standard ETC, OSE:SDSD) reported
a net profit after tax of USD 1.3 million in the first quarter of 2023 (Q1 22
USD 8.2 million). The company is a leading shareholder in Dolphin Drilling AS
(Dolphin Drilling, OSE:DRILL) and Standard Supply AS (Standard Supply,
OSE:STSU), and has a flexible investment strategy with no debt and a solid cash
balance.

"Our active engagement in Dolphin Drilling and Standard Supply continues.
Following a successful startup for the Blackford Dolphin in Nigeria, Dolphin
Drilling now has a contract backlog of USD 122 million at quarter end.
Furthermore, the two remaining harsh environment semis are experiencing interest
both in the North Sea and internationally, and we remain optimistic on these
assets going forward", says Martin Nes, Standard ETC's Board Chairman, and
continues:  

"Standard Supply has effectively capitalized on strong time-charter rates,
securing contracts for seven of its nine vessels at an average daily rate of USD
16,000. The company's operating cash breakeven is around USD 7,700 per day, and
Standard Supply remain committed to its strategy of distributing most of the
free cash flow to shareholders. A fleet wide time charter equivalent of USD
16,000 per day would result in an annualized dividend capacity in Standard
Supply of approximately NOK 0.8 per share."

Standard ETC is an investment company and is not consolidating the subsidiaries.
The company reported a profit after tax of USD 1.3 million in the first quarter
of 2023. The investment portfolio contributed a net USD 0.2 million, in addition
to dividend distribution from Standard Supply of USD 1.0 million and interest
income of USD 0.5 million. The company had a cash position of USD 35.5 million
at the end of the quarter.  

"With our debt-free status and strong cash reserves, Standard ETC continues to
pursue new attractive investment opportunities across the energy,
transportation- and commodity sectors," Nes concludes.

The company's stakes in Dolphin Drilling and Standard Supply are evaluated at
the quarter-end share prices.

Attached are the company presentation and the Board of Directors' report.

ENDS

For additional information, please contact: 
General Manager, Evangelia Panagide at +357 99 77 11 16  
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard ETC|www.standard-etc.com
S.D. Standard ETC is an investment company founded in 2010. The company holds a
focused investment portfolio and a fleet of Platform Supply Vessels (PSVs)
through its 53 % ownership in Standard Supply AS (Euronext Growth: STSU). The
company also has a 25 % ownership in the listed drilling company Dolphin
Drilling AS (Euronext Growth: DDRIL). S.D. Standard ETC is headquartered in
Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.