Hunter Group ASA

AGM Information • Apr 5, 2018

English office translation. In case of discrepancies the Norwegian version shall prevail.

MINUTES

OF

EXTRAORDINARY GENERAL MEETING

IN

HUNTER GROUP ASA (Reg. No. 985 955 107) (the "Company")

held on Thursday, 5 April 2018 at 11:00 (CET) at the office premises of the Company in Munkedamsveien 45A, 5^th floor, NO-0250 Oslo, Norway.

The meeting had the following agenda:

$\mathbf{I}$ ÅPNING AV MØTET OG $\mathbf{1}$ OPENING OF THE MEETING OPPTAK AV FORTEGNELSE AND REGISTRATION OF OVER MØTENDE AKSJEEIERE ATTENDING SHAREHOLDERS På vegne av styrets leder, John Vemmestad, On behalf of the chairman of the board, John åpnet advokat Ole Henrik Wille Vemmestad, attorney at law, Ole Henrik Wille, generalforsamlingen og redegjorde for opened the general meeting and informed about fremmøtet. Fortegnelsen over møtende the attendance. The list over attending aksjeeiere viste at 79 076 902 aksier, tilsvarende shareholders showed that 79,076,902 shares 60,29 % av aksiene i Selskapet var representert. corresponding to 60.29% of the Company's issued shares were represented. Fortegnelsen over fremmøtte og The list of participants and voting results is avstemmingsresultater er vedlagt protokollen enclosed to these minutes as Appendix 1. som Vedlegg 1. $\overline{2}$ VALG AV MØTELEDER OG EN $\overline{2}$ ELECTION OF A CHAIR OF THE PERSON TIL Å MEETING AND A PERSON TO MEDUNDERTEGNE CO-SIGN THE MINUTES PROTOKOLLEN Advokat Ole Henrik Wille ble enstemmig valgt Attorney at law, Ole Henrik Wille, was som møteleder for generalforsamlingen. unanimously elected as chair of the general meeting.

PROTOKOLL

FOR

EKSTRAORDINÆR GENERALFORSAMLING

$\mathbf I$

HUNTER GROUP ASA (Org. nr. 985 955 107) ("Selskapet")

avholdt torsdag, 5. april 2018 kl. 11:00 i Selskapets forretningslokaler i Munkedamsveien 45A, 5. etasje, 0250 Oslo.

Det forelå slik dagsorden:

Arne Fredly ble enstemmig valgt til å medundertegne protokollen sammen med møteleder.

3	GODKJENNELSE AV
	INNKALLING OG FORSLAG TIL
	DAGSORDEN

Møteleder presiserte at generalforsamlingen er blitt innkalt etter anmodning fra Apollo Asset Limited, som også har fremsatt forslag til dagsorden. På tidspunktet for denne generalforsamlingen er Apollo Asset Limited registrert som eier av 26 231 602 aksjer, tilsvarende 19,99 % av aksjene og stemmene i Selskapet.

Det ble ikke reist innvendinger mot innkalling eller dagsorden, og generalforsamlingen ble erklært for lovlig satt.

$\overline{\mathbf{4}}$ STYREVALG

Møteleder viste til at Apollo Asset Limited har foreslått å velge et nytt styre i Selskapet. Forslaget ble offentliggjort i Selskapets børsmelding av 4. april 2018. Arne Fredly redegjorde for forslaget.

I samsvar med forslaget fra Apollo Asset Limited traff generalforsamlingen med nødvendig flertall følgende beslutning:

Selskapets styre skal bestå av følgende personer:

Henrik Christensen, styrets leder (nyvalgt) Kristin Hellebust, styremedlem (nyvalgt) Arne Fredly, styremedlem (nyvalgt)

5 ENDRING AV SELSKAPETS FORMÅL

Møteleder viste til forslaget fra Apollo Asset Limited om å endre Selskapets vedtektsfestede formål.

Arne Fredly was unanimously elected to co-sign the minutes together with the chair of the meeting.

$\overline{\mathbf{3}}$

APPROVAL OF THE NOTICE AND THE PROPOSED AGENDA

The chair of the meeting stated that the general meeting had been called following a request by Apollo Asset Limited, which also has proposed the meeting's agenda. As of the date of this general meeting, Apollo Asset Limited is registered as owner of 26,231,602 shares, equivalent to approx. 19.99% of the shares and votes in the Company.

No objections were made to the notice or the agenda, and the general meeting was declared duly constituted.

$\overline{\mathbf{A}}$ ELECTION OF NEW BOARD OF DIRECTORS

The chair of the meeting referred to that Apollo Asset Limited has proposed to elect a new board of directors of the Company. The proposal was disclosed in a stock exchange announcement published by the Company on 4 April 2018. Arne Fredly gave an account for the proposal.

In accordance with the proposal by Apollo Asset Limited, the general meeting with requisite majority passed the following resolution:

The Company's board of directors shall consist of the following persons:

Henrik Christensen, chairman (new) Kristin Hellebust, board member (new) Arne Fredly, board member (new)

5 AMENDMENT OF THE PURPOSE OF THE COMPANY

The chair referred to the proposal made by Apollo Asset Limited to amend the Company's

objective as laid down in the articles of

association.

Arne Fredly redegjorde for forslaget, som deretter ble diskutert av de fremmøtte. Forslaget går ut på at Selskapet skal bli et investeringsselskap som skal vurdere ulike sektorer, inkludert, men ikke begrenset til, shipping, olje og gassindustrien.	Arne Fredly gave an account for the proposal, which thereafter was discussed by the attending shareholders. The proposal involves that the Company shall be an investment company to consider investments in various sectors, including, but not limited to, the shipping, oil and gas industry.
I samsvar med forslaget fra Apollo Asset	In accordance with the proposal by Apollo Asset
Limited traff generalforsamlingen med	Limited, the general meeting with requisite
nødvendig flertall følgende beslutning:	majority passed the following resolution:
Vedtektene § 3 endres til:	The articles of association $\S$ 3 is amended as follows:
Selskapets virksomhet er å tilby produkter og	The objectives of the company is to provide
tjenester til energi-, offshore og	services and products to the offshore energy,
oljeserviceindustrien, samt investeringer i og	services and oil-supply industry, as well as
erverv av selskaper, verdipapirer, andre	investments and acquisitions of companies,
eiendeler og deltakelse i annen virksomhet av	securities, other assets as well as participation
enhver art.	in other businesses and activities of all kinds.
* * *	* * *
Ytterligere forelå ikke til behandling, og møtet	There were no further items on the agenda, and
ble hevet.	the general meeting was adjourned.

Vedlegg 1 / Appendix 1: Fortegnelse over fremmøtte og avstemmingsresultater / The list of participants and voting results

Oslo, 5 April 2018

Ole Henrik Wille

Chair of the meeting

Ircley

Arne Fredly Co-signature

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Overview of votes

			Voted			Representative		John Vemmestad Representative	Representative	Representative	Representative	Representative Ivar-Andreas
Shareholder	Nr shares	In favor	Against	Withh.	in favor	Against	Withh.	Ole Henrik Wille	Arne Fredly	Berge Gerdt Larsen	Karl G.Hogtun	Monefeldt
Hermann Solstrand	12,000					Item 5	Item 4	12,000
Svein Hjartarson	3,000					Item 5	Item 4	3,000
Øystein Eskeland	57,270					Item 5	Item 4	57,270
Verdipapirfondet DNB SMB	3,084,436										3,084,436
Ralfs Znotins	1,849					Item 5	Item 4	1,849
Invesco Perp	2,122,539				$\pmb{\times}$			2,122,539
Lena Marcusson	164,000								164,000
Marcus Hansson (SEB SA)	1,997,667								1,997,667
Storebrand Vekst	2,036,764								2,036,764
Silvercoin Industries AS	4,431,857				x x x x x x x x x				4,431,857
Alicerce Fovaltning	4,000,000								4,000,000
Dukat	2,239,800								2,239,800
Skøien	1,000,000								1,000,000
Per J. Martinsen	40,579								40,579
Songa Trading Inc.	7,200,001								7,200,001
John Vemmestad	100,000					Item 5	Item $4$	100,000
Twits	105,000	$\times$ $\times$								105,000
Berge Larsen Oil and Gas AS	140,000									140,000
Time Critical Petroleum Resources AS	250,000				×					250,000
Apollo Asset Limited	26,231,602				$\asymp$				26,231,602
Eiger Partner AS	86,289				$\boldsymbol{\times}$				86,289
Eiger Capital AS	125,000								125,000
Argentum	3,292,315								3,292,315
Bradbenken	7,656								7,656
Kjen AS (Terje Alekander Holta Aas)	97,718								97,718
Katrin Enstad Anglevik	117,582								117,582
Initi AS	1,921,420								1,921,420
Hundvåg Holding	1,154,572								1,154,572
GEB Holding AS (Geir Berge)	1,921,420								1,921,420
Dynamo Management AS	5,895,259								5,895,259
Einar Chr. Gulbrandsen	312,696								312,696
	1,374,905								1,374,905
Innovation AS	78,174								78,174
Anne Hodne Buer Jone Haaland	160,460								160460
Per Sande AS	423,596								423,596
	78,174								78,174
Arne Rødeseike Brit Sømme	390,870								390,870
Resonans Invest AS (Anne Brit Børresen Sterri)	1,981,420								1,981,420
Lingtech AS	2,181,420								2,181,420
Stian Lode	138,454								138,454
Frode Rabben	97,718								97,718
Gem Invest AS	1,921,420				x x x x x x x x x x x x x x x x x x x				1,921,420
Tight Holding AS	100,000		m Item 4 &									100,000
Total shares	79,076,902							2,296,658	73,100,808	495,000	3,084,436	100,000
Total shares outstanding	131,158,013
% of total	60.29%							1.75%	55.73%	0.38%	2.35%	0.08%
		Nr shares			In percentage	Withh
Summary of votes	76,680,244 For	Against 100,000	2,296,658 Withh	97.0% For	Against 0.1%	2.9%
Agenda item nr 4 Agenda item nr 5	76,680,244	2,396,658		97.0%	3.0%	0.0%