Hunter Group ASA

Major Shareholding Notification • Nov 30, 2023

Hunter Group ASA - Major Shareholding Notifications and PDMR Notification

Hunter Group ASA - Major Shareholding Notifications and PDMR Notification

Oslo, 30 November 2023

Surfside Holding AS was today allocated 5,000,000 shares at a subscription price

of NOK 1.50/each (the "Subscription Price") in the private placement with gross

proceeds of NOK 21.5 million (the "Private Placement"). Upon completion of the

Private Placement, Surfside Holding AS will own a total 5,410,835 shares in

Hunter Group ASA (the "Company"), representing 12.55 % of the shares (and 12.56

% of the votes), and thereby passing the 10% threshold pursuant to the Norwegian

Securities Trading Act section 4-2. Surfside Holding AS is a close associate of

Morten E. Astrup, chairperson of the Company. PDMR notification form attached

hereto.

B.O. Steen Shipping AS was today allocated 4,366,667 shares at the Subscription

Price in the Private Placement. Upon completion of the Private Placement, B.O.

Steen Shipping AS will own a total 4,366,667 shares in the Company, representing

10.13 % of the shares (and 10.14 % of the votes), and thereby passing the 10%

threshold pursuant to the Norwegian Securities Trading Act section 4-2.

Apollo Asset Limited was today allocated 4,300,000 shares at the Subscription

Price in the Private Placement. Upon completion of the Private Placement, Apollo

Asset Limited will own a total 4,300,000 shares in the Company, representing

9.98 % of the shares (and 9.98 % of the votes), and thereby passing the 5%

threshold pursuant to the Norwegian Securities Trading Act section 4-2.

The above is based on the total number of shares in Hunter Group ASA after

settlement of the Private Placement being 43,101,434 shares (and 43,082,006

votes, after deduction for 19,428 shares held in treasury).

Sagittarius Capital Ltd. (close associate of CEO Erik Frydendal), Lama Global AS

(close associate of CFO and board member Lars Brynildsrud), and Seal Invest AS

(close associate of COO Sujoy Seal) have, for settlement purposes in the Private

Placement, entered into a share lending agreement with DNB Markets, a part of

DNB Bank ASA, to lend 2,041,666, 1,754,167, and 1,766,666, respectively, of

existing and unencumbered shares in the company that are already listed on

Euronext Expand Oslo. The share loan will be settled to the lenders with new

shares, delivered on a separate, temporary ISIN pending approval of the

prospectus. PDMR notification forms attached hereto.