Hunter Group ASA — M&A Activity 2020

Oct 29, 2020

Hunter Group ASA - Memorandum of Agreement

Hunter Group ASA - Memorandum of Agreement

Oslo, 29 October 2020

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

ASA, is pleased to announce that it has signed a Memorandum of Agreement for the

sale of Hunter Saga and Hunter Laga for an en-bloc price of USD 168.4m (the

"Transaction"). The Transaction is expected to be completed during December,

following delivery of the final vessel from the Company to her new owners.

Upon completion of the Transaction, the Board of Directors intends to propose a

distribution of excess capital to the shareholders of Hunter Group ASA.

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.