Hunter Group ASA

Share Issue/Capital Change • May 21, 2019

Hunter Group ASA: CONTEMPLATED EQUITY SHARE CAPITAL INCREASE

Hunter Group ASA: CONTEMPLATED EQUITY SHARE CAPITAL INCREASE

(Oslo, 21 May 2019)

Hunter Group ASA (the "Company") announces that it is contemplating an equity

share capital increase of up to 190,454,000 new common shares. The proceeds from

the contemplated transaction will be used to partly fund the Company's

newbuilding capex commitments. This is in line with the Company's previous

communication regarding its ongoing funding requirements.

An equity private placement may follow after close of trading on 22 May 2019

subject to, inter alia, market conditions.

Contact: Erik Frydendal, CEO ef@huntergroup.no +47 957 72 947 Additional

information about the Company can be found at: www.huntergroup.no

*** Important information: The release is not for publication or distribution,

in whole or in part directly or indirectly, in or into Australia, Canada, Japan

or the United States (including its territories and possessions, any state of

the United States and the District of Columbia). This release is an announcement

issued pursuant to legal information obligations and is subject of the

disclosure requirements pursuant to section 5-12 of the Norwegian Securities

Trading Act. It is issued for information purposes only and does not constitute

or form part of any offer or solicitation to purchase or subscribe for

securities, in the United States or in any other jurisdiction. The securities

mentioned herein have not been, and will not be, registered under the United

States Securities Act of 1933, as amended (the "US Securities Act"). The

securities may not be offered or sold in the United States except pursuant to an

exemption from the registration requirements of the US Securities Act. The

Company does not intend to register any portion of the offering of the

securities in the United States or to conduct a public offering of the

securities in the United States. Copies of this announcement are not being made

and may not be distributed or sent into Australia, Canada, Japan or the United

States. The issue, exercise, purchase or sale of subscription rights and the

subscription or purchase of shares in the Company are subject to specific legal

or regulatory restrictions in certain jurisdictions. Neither the Company nor the

Managers assumes any responsibility in the event there is a violation by any

person of such restrictions. The distribution of this release may in certain

jurisdictions be restricted by law. Persons into whose possession this release

comes should inform themselves about and observe any such restrictions. Any

failure to comply with these restrictions may constitute a violation of the

securities laws of any such jurisdiction. The Managers are acting for the

Company and no one else in connection with the Private Placement and will not be

responsible to anyone other than the Company providing the protections afforded

to their respective clients or for providing advice in relation to the Private

Placement and/or any other matter referred to in this release. Forward-looking

statements: This release and any materials distributed in connection with this

release may contain certain forward-looking statements. By their nature, forward

-looking statements involve risk and uncertainty because they reflect the

Company's current expectations and assumptions as to future events and

circumstances that may not prove accurate. A number of material factors could

cause actual results and developments to differ materially from those expressed

or implied by these forward-looking statements.