Hunter Group ASA — Capital/Financing Update 2020

Feb 20, 2020

Hunter Group ASA - $220m post-delivery bank financing

Hunter Group ASA - $220m post-delivery bank financing

Oslo, 20 February 2020

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

ASA, is pleased to announce that it has signed a binding agreement for a $220m

loan facility from a syndicate of banks consisting of Danske Bank, DNB, Nordea

and SEB. The proceeds will be used to fund the final instalments for the

Company's four remaining newbuild VLCCs, as well as general corporate purposes,

and will be drawn on delivery of each vessel. The facility will carry a 275bps

margin over LIBOR, and have a 16 year repayment profile.

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.