Hunter Group ASA

Hunter Group ASA Third Quarter Results 2018

Financial highlights

.Net Profit from continuing operations came in at NOK 5.2m in Q3 2018

.Total operating expenses from continuing operations was NOK 1.6m.

.Adjusted Cash position as of 30.9.2018 was NOK 717,9m consisting of NOK 306m

and USD 51,45m

Key events in Q3 2018

.On 6 July the NOK 52m subsequent offering was successfully completed at a price

of NOK 3.2/sh.

.On 7 July USD 20m was purchased at a USDNOK rate of 8.0.

.On 15 August the Company received an Extension on the declaration date for the

Option Vessels until 17 September. Option price is still USD 92m/vessel and all

three vessels are to be delivered in 1H 2021.

.On 27 September the Company received a further Extension on the declaration

date for the Option Vessels until 19 October 2018. Price USD 92m/ vessels and

all three vessels are to be delivered in 1H 2021.

.On 27 September Hunter Group ASA became one of the founding members of the

Clean Shipping Alliance (CSA). CSA represents a group of leading companies from

the commercial shipping and cruise industries that have been leaders in emission

control efforts and have made significant investments in research and analysis,

funding and committing resources to comply with 2020 fuel requirements through

the development and use of Exhaust Gas Cleaning Systems (EGCS). The Alliance

aims to support and educate on the use and effectiveness of EGCS in order to

help achieve shared environmental and sustainability initiatives. (Founding

members of the Alliance include: Carnical Corporation, DHT Holdings, Eagle Bulk

Shipping, Frontline Ltd., Golden Ocean Group, Hunter Group ASA, Navig8 Group,

Okeanis Eco Tankers, Oldendorff Carriers, Safe Bulk Carriers, Spliethoff, Star

Bulk Carriers Corp. Torm and Trafigura.)

.Plan approval process is well underway and close to completion. Management is

very pleased with both progress and outcome.

.Site team member selection process has been completed, and contracts have been

signed.

Contacts:

Erik A.S. Frydendal, CEO

AI Terminal