Hunter Group ASA

Capital/Financing Update • Jun 18, 2020

Hunter Group ASA - Refinancing update

Hunter Group ASA - Refinancing update

Oslo, 18 June 2020

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

ASA, is pleased to announced that it has received binding commitments for a USD

157.5m loan facility (the "Facility") from a syndicate of banks consisting of

Danske Bank, DNB, Nordea and SEB. The Facility will have a repayment profile of

16 years and will carry an initial interest rate of Libor + 295bps for the first

twelve months, following which the interest rate margin will be subject to a

market adjustment mechanism.

The proceeds from the Facility, along with available cash at hand, will be used

to refinance Hunter Atla, Hunter Saga and Hunter Laga, which are currently

financed by sale-and-leasebacks with SFL Corporation Ltd. The refinancing will

reduce the Company's leverage, cost of capital and consequently cash breakeven

levels, and is an important step in line with the Company's strategy of being a

low-cost provider of tanker tonnage. The refinancing of Hunter Atla and Hunter

Saga is expected to be completed in approximately two months, while hunter Laga

will be refinanced in the latter part of the year.

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.