Hunter Group ASA

Share Issue/Capital Change • Mar 5, 2024

Hunter Group ASA - NOK 1.75 Offering: Final results, allocation, and PDMR notification

Hunter Group ASA - NOK 1.75 Offering: Final results, allocation, and PDMR notification

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY

OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR

JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR

DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER

OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Oslo, 5 March 2024

Hunter Group ASA (the "Company", ticker: HUNT) refers to the stock

exchange notices in connection with the subsequent offering of up to 14,200,000

new shares (the "Offer Shares"), each at an offer price of NOK 1.75 (the "NOK

1.75 Offering").

The subscription period in the NOK 1.75 Offering expired on 4 March 2024

at 16:30 hours (CET) (the "Subscription Period"). The NOK 1.75 Offering

was significantly over-subscribed. The Company's board of directors (the

"Board") has today allocated in total 14,200,000 Offer Shares, of which

7,952,227 Offer Shares are allocated based on subscription rights and 6,247,773

Offer Shares are allocated based on over-subscriptions, thus raising NOK 24.8

million in gross proceeds.

Subscribers having access to investor services through their VPS account

manager are able to check the number of Offer Shares allocated to them from

10:00 CET. Subscribers who do not have access to investor services through their

VPS account manager may contact the Managers to obtain information about the

number of Offer Shares allocated to them from 10:00 CET.

The deadline for payment for the allocated Offer Shares is 7 March 2024,

in accordance with the payment instructions set out in the Company's

prospectus dated 14 February 2024 (the "Prospectus"). The Offer Shares may not

be transferred or traded until they are fully paid and the share capital

increase pertaining to the NOK 1.75 Offering has been registered with the

Norwegian Register of Business Enterprises ("NRBE"). The Offer Shares are

expected to commence trading on Euronext Expand Oslo on or about 14 March 2024,

but not before the Company has published a stock exchange announcement that the

share capital increase pertaining to the Offer Shares has been registered with

the NRBE.

Sagittarius Capital Ltd., a close associate of Erik A.S. Frydendal, CEO and

PDMR of the Company, Lama Global AS, a close associate of Lars M. Brynildsrud,

CFO and PDMR of the Company, Seal Invest AS, a close associate of Sujoy Seal,

COO and PDMR of the Company and Ida Harboe Munthe-Kaas, a close associate of

Bertel Steen, board member and PDMR of the Company were allocated 2,071,870,

1,202,566, 1,196,884  and 93,941 shares, respectively, in the NOK 1.75 Offering,

each at a subscription price of NOK 1.75. Following the Offerings, Erik A.S.

Frydendal, Lars M. Brynildsrud, Sujoy Seal and close associates will own a total

of 3,010,907, 2,000,770 and 2,006,250 shares in the Company, respectively. PDMR

notification forms attached hereto.

Following the issuance of the new Offer Shares, the Company's share capital

will be NOK 5,155,285.34, divided into 134,825,243 shares, each with a nominal

value of NOK 0.038 (rounded).

DNB Markets, a part of DNB Bank ASA and Fearnley Securities AS

(collectively, the "Managers") act as Joint Bookrunners in connection with the

NOK 1.75 Offering. Ro Sommernes advokatfirma DA acts as legal advisor to the

Company in connection with the NOK 1.75 Offering.

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 stock exchange announcement is made pursuant to section 5-12 of

the Norwegian Securities Trading Act.

Important notices:

This announcement is not and does not form a part of any offer to sell, or

a solicitation of an offer to purchase, any securities of the Company.

The distribution of this announcement and other information may be restricted by

law in certain jurisdictions. Copies of this announcement are not being made and

may not be distributed or sent into any jurisdiction in which such

distribution would be unlawful or would require registration or other measures.

Persons into whose possession this announcement or such other information should

come are required to inform themselves about and to observe any such

restrictions. The securities referred to in this announcement have not been and

will not be registered under the U.S. Securities Act and may not be offered or

sold within the United States except pursuant to an exemption from, or in a

transaction not subject to, the registration requirements of the U.S. Securities

Act and applicable state securities laws.

This announcement includes forward-looking statements, relating inter alia

to non-historical statements, and the offering. These forward-looking

statements are subject to numerous risks, uncertainties and assumptions, changes

in market conditions and other risks. Forward-looking statements reflect

knowledge and information available at, and speak only as of, the date they are

made. Except as required by law, the Company undertakes no obligation to update

or revise publicly any forward-looking statements, whether as a result of new

information, future events or otherwise, after the date hereof or to reflect the

occurrence of unanticipated events. Readers are cautioned not to place undue

reliance on such forward -looking statements.

This announcement is made by, and is the responsibility of, the Company.

The Managers and their affiliates are acting exclusively for the Company and no

-one else in connection with the transactions described in this announcement.

They will not regard any other person as their respective clients in relation to

the transactions described in this announcement and will not be responsible

to anyone other than the Company, for providing the protections afforded to

their respective clients, nor for providing advice in relation to the

transactions described in this announcement, the contents of this announcement

or any transaction, arrangement or other matter referred to herein. In

connection with the transaction described in this announcement, the Managers and

any of their affiliates, acting as investors for their own accounts, may

subscribe for or purchase securities and in that capacity may retain, purchase,

sell, offer to sell or otherwise deal for their own accounts in such securities

of the Company or related investments in connection with the transactions

described in this announcement or otherwise. Accordingly, references in any

subscription materials to the securities being issued, offered, subscribed,

acquired, placed or otherwise dealt in should be read as including any issue or

offer to, or subscription, acquisition, placing or dealing by, the Managers and

any of their affiliates acting as investors for their own accounts. The Managers

do not intend to disclose the extent of any such investment or transactions

otherwise than in accordance with any legal or regulatory obligations to do so.