Hunter Group ASA

Share Issue/Capital Change • Mar 4, 2024

Hunter Group ASA - NOK 1.50 Offering: Final results, allocation, and PDMR notification

Hunter Group ASA - NOK 1.50 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, 4 March 2024

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

notices in connection with the subsequent offering of up to 6,666,666 new shares

(the "Offer Shares"), each at an offer price of NOK 1.50 (the "NOK 1.50

Offering").

The subscription period in the NOK 1.50 Offering expired on 1 March 2024 at

16:30 hours (CET) (the "Subscription Period"). The NOK 1.50 Offering was

significantly over-subscribed. The Company's board of directors (the "Board")

has today allocated in total 6,666,666 Offer Shares, of which 4,210,139 Offer

Shares are allocated based on subscription rights and 2,456,527 Offer Shares are

allocated based on over-subscriptions, thus raising NOK 10 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.

Note that the subscription period in the NOK 1.75 Offering closes later today,

on 16:30 hours (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 1.50 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 Brynildsrud, CFO and

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

and PDMR of the Company, were allocated 928,130, 797,434 and 803,116 shares,

respectively, in the NOK 1.50 Offering, each at a subscription price of NOK

1.50. PDMR notification forms attached hereto.

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

be NOK 4,612,322.83, divided into 120,625,243 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 1.50

Offering. Ro Sommernes advokatfirma DA acts as legal advisor to the Company in

connection with the NOK 1.50 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.