Hunter Group ASA

Share Issue/Capital Change • May 18, 2018

Hunter Group ASA - Preliminary results in the conditional private placement

Hunter Group ASA - Preliminary results in the conditional private placement

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SERVICES OR FOR DISSEMINATION INTO THE UNITED STATES, AUSTRALIA, CANADA OR

JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE

UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT

THE END OF THE ANNOUNCEMENT.

Hunter Group ASA - Preliminary results in the conditional private placement

Oslo, Norway, 18 May 2018: Reference is made to the stock exchange announcement

of 16 May 2018 regarding the contemplated conditional private placement (the

"Private Placement") of new shares (the "Offer Shares") in Hunter Group ASA

("Hunter" or the "Company"). The subscription period in the Private Placement

expired on 18 May 2018 at 08:00 (CET).

The preliminary results show that the Private Placement has been significantly

oversubscribed, and the subscription period will not be extended. Hunter is

pleased to announce that the Company has succeeded in raising gross proceeds of

NOK 520 million in the Private Placement.

The Board of Directors, in consultation with the Managers, will resolve the

offer price and the conditional allocation of the Offer Shares in the Private

Placement on or about 22 May 2018, according to the valid allocation principles.

Notifications of conditional allocations of Offer Shares will be distributed on

or about 22 May 2018. Subject to satisfaction of the conditions for completion

of the Private Placement, the payment date for the Offer Shares is expected to

be on or about 11 June 2018 and the Offer Shares are expected to be delivered to

the applicant's VPS account on or about 13 June 2018. The Offer Shares issued

and delivered will be placed on a separate ISIN pending publication of a listing

prospectus (the "Prospectus") for the Offer Shares to be approved by the

Norwegian Financial Supervisory Authority (the "NFSA"), and will not be listed

or tradable on the Oslo Stock Exchange until the Prospectus has been published

by the Company, expected to take place mid of June 2018.

Completion of the Private Placement is subject to (i) the adoption of the

relevant corporate resolutions of the Company required to implement the issue

the Offer Shares, including the extraordinary general meeting's resolution to

issue the Offer Shares scheduled to be held on or about 8 June 2018, and (ii)

the registration of the share capital increase pertaining to the issuance of the

Offer Shares in the Norwegian Register of Business Enterprises.

Clarksons Platou Securities AS, Pareto Securities AS, DNB Markets and Fearnley

Securities acted as joint lead managers and bookrunners in connection with the

Private Placement.

For further information, please contact:

Henrik A. Christensen, Chairman, +47 909 67 683, henrik@rosom.no

Erik Frydendal, CEO, +47 957 72 947, ef@huntergroup.no

This stock exchange announcement is made pursuant to section 5-2 of the

Norwegian Securities Trading Act.

*** Important information: The release is not for publication or distribution,

in whole or in part directly or indirectly, in or into Australia, Canada, Japan

or the United States (including its territories and possessions, any state of

the United States and the District of Columbia). This release is an announcement

issued pursuant to legal information obligations, and is subject of the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act. It is issued for information purposes only, and does not constitute

or form part of any offer or solicitation to purchase or subscribe for

securities, in the United States or in any other jurisdiction. The securities

mentioned herein have not been, and will not be, registered under the United

States Securities Act of 1933, as amended (the "US Securities Act"). The

securities may not be offered or sold in the United States except pursuant to an

exemption from the registration requirements of the US Securities Act. The

Company does not intend to register any portion of the offering of the

securities in the United States or to conduct a public offering of the

securities in the United States. Copies of this announcement are not being made

and may not be distributed or sent into Australia, Canada, Japan or the United

States. The issue, exercise, purchase or sale of subscription rights and the

subscription or purchase of shares in the Company are subject to specific legal

or regulatory restrictions in certain jurisdictions. Neither the Company nor the

Managers assumes any responsibility in the event there is a violation by any

person of such restrictions. The distribution of this release may in certain

jurisdictions be restricted by law. Persons into whose possession this release

comes should inform themselves about and observe any such restrictions. Any

failure to comply with these restrictions may constitute a violation of the

securities laws of any such jurisdiction. The Managers are acting for the

Company and no one else in connection with the Private Placement and will not be

responsible to anyone other than the Company providing the protections afforded

to their respective clients or for providing advice in relation to the Private

Placement and/or any other matter referred to in this release. Forward-looking

statements: This release and any materials distributed in connection with this

release may contain certain forward-looking statements. By their nature, forward

-looking statements involve risk and uncertainty because they reflect the

Company's current expectations and assumptions as to future events and

circumstances that may not prove accurate. A number of material factors could

cause actual results and developments to differ materially from those expressed

or implied by these forward-looking statements.