Hunter Group ASA

Capital/Financing Update • Sep 6, 2019

Hunter Group ASA - Sale and Leaseback Transaction

Hunter Group ASA - Sale and Leaseback Transaction

Oslo, 6 September 2019

Hunter Tankers AS (the «Company»), a wholly owned subsidiary of Hunter Group

ASA, has entered into a USD 180 million sale-and-leaseback transaction with Ship

Finance International Limited ("SFL"), for an initial three VLCCs at highly

attractive terms.

The Company will receive net proceeds of USD 60 million per vessel for the sales

of Hunter Atla (5455), Hunter Saga (5456) and Hunter Laga (5460), and will

subsequently bareboat charter the vessels back for 5 years. The Company will

have purchase options for all three vessels, ensuring maximum flexibility in

regards to potential future vessel sales.

Erik Frydendal, CEO of Hunter Group ASA, commented: "This transaction reflects

our ongoing efforts to continuously optimize our financing and drive out

unnecessary costs wherever possible, while maintaining a high level of

flexibility, in order to create value for our shareholders."

Contact:

Erik A.S. Frydendal, CEO, ef@huntergroup.no, Ph.: +47 957 72 947

Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882

This information is subject to disclosure requirements pursuant to section 5-12

of the Norwegian Securities Trading Act.