Hunter Group ASA

Capital/Financing Update • Aug 18, 2020

Hunter Group ASA - Refinancing update

Hunter Group ASA - Refinancing update

Oslo, 18 August 2020

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

ASA, is pleased to announce that it has exercised its call options pursuant to

the sale-and-leaseback agreements with SFL Corporation Ltd. and repurchased

Hunter Atla and Hunter Saga for a combined amount of approx. USD 117.8m (the

"Transaction"). Consequently, the two vessels are now in full ownership of the

Company. Concurrently with the Transaction, the Company has utilized approx. USD

100.4m of the loan facility with Danske Bank, DNB, Nordea and SEB announced on

18 June 2020.

The Transaction will reduce the Company's leverage, cost of capital and cash

breakeven levels. This is in line with the Company's previously communicated

capital allocation strategy.

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.