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

(Limassol, 17 February 2022) S.D. Standard ETC Plc (Standard ETC, OSE:SDSD)
reported a net profit after tax of USD 10.2 million in the fourth quarter of
2021, up from negative USD 6.6 million in the same quarter last year, of which
USD 4.3 million are related to the investment portfolio and USD 6.5 million are
related to the PSV fleet. For the full year, 2021 Standard ETC had a net profit
after tax of USD 13.7 million(2020 (26.9) million). Capital allocation to the
investment portfolio has further increased after year end. 

"Standard ETC continues to deploy capital to the investment portfolio, which has
increased even further during the first quarter of 2022. During the fourth
quarter, Standard ETC sold the VLCC investment and the PSV vessel Standard
Princess. The divestments have strengthened our cash holding substantially and
flexibility to pursue other investments opportunities. We have had a strong
value development in the portfolio in the fourth quarter and look forward to
continuously evaluate business opportunities, " says Martin Nes, Chairman of the
Board of S.D. Standard ETC Plc.

Standard ETC reported an operating profit of USD 10.2 million in the fourth
quarter of 2021 (Q4 20: USD (6.6) million), of which USD 4.3 million are related
to the investment portfolio. In addition, USD 6.5 million is the net gain from
dividend from the subsidiary and changes in fair value of the PSV fleet. For the
full year 2021, Standard ETC had an operating profit of USD 13.7 million(2020
(26.9) million).  

Standard ETC is an investment entity and shall not consolidate its subsidiaries.
Consequently, the company measures its investments in PSVs based on fair value
estimates from reputable independent valuers. For the fourth quarter the two
remaining large size PSV's have been revalued from USD 8 million in the third
quarter to USD 10.3 million due to the sale of the comparable vessel Standard
Princess for USD 10.3 million. Revenues and EBITDA from chartering out the
vessels are not consolidated into, nor reflected in the financial statements.
The investment portfolio are valued at market value.

From operating the PSVs the group had an underlying positive adjusted EBITDA  in
the fourth quarter 2021 of USD 1.8 million (Q4 20 USD (1) million). For the full
year 2021, Standard ETC had a EBITDA of USD 2.8 million compared to negative
EBITDA 4 million in 2020. The utilization of the large-sized PSV's was 92 % in
the quarter (Q4 20: 73%). 

During the quarter, Standard ETC announced the sale of ownership in the VLCC
Gustavia S and the sale the large size PSV Standard Princess. 

At the end of the fourth quarter, Standard ETC held shares in Weatherford
International Plc and other investments for USD 24.8 million, classified as
financial assets held for trading.


 
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

*Excluding non-recurring cost and dry dock, special survey, maintenance and
repair

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). S.D.
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 17 February
2022 at 07:00 CET.