Hunter Group ASA

Earnings Release • Feb 28, 2019

Hunter Group ASA - Q4 report

Hunter Group ASA - Q4 report

Financial highlights

Net Profit from continuing operations came in at NOK 10.6m in Q4 2018. The net

profit in Q4 is mainly attributable to a combination of financial income and

advisory fees.

Total operating expenses from continuing operations was NOK 4.3m, whereof NOK

0.9m relates to payroll expenses. The NOK 3.4m in other operating expenses

consists of NOK 0.7m in general operating expenses and NOK 2.7m in legal fees

related to Dwellop-exit etc., which is mainly a reclassification from other

equity to other operating expenses in Q4. For further details, please see note

Total consolidated adjusted cash position NOK 519.1m consisted of NOK 304.1m in

cash and cash equivalents and NOK 215.1m in USD time deposit placements (USD

28.8m).

Key events in Q4 2018

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

very pleased with both progress and outcome.

In mid-October Hunter Group ASA was chosen as Technical Advisor by Hartree

Maritime Partners, LLC to conduct the building supervision for Hartree's 4 VLCC

vessels under construction at DSME. Hunter Group ASA will receive a fee for this

service.

Hunter Tankers AS signed a contract for one additional VLCC, H.no 5470, at DSME,

with identical specifications. This takes the Group's total fleet order to 8

vessels.

Steel cutting has been completed on vessels, H.no. 5455, 5456, 5457 and 5460.

The building project is on time and within budget.

Hunter Tankers AS received refund guarantees on vessels, H.no. 5465, 5466 and

5467, and has consequently made the first installment on these vessels on

November 2.

For additional information please contact: Erik Frydendal, CEO +47 957 72 947 or

ef@huntergroup.no