Hunter Group ASA - Mandatory notification of trade by primary insiders

Oslo, 13 February 2023

AF Capital AS, a company wholly owned by board member Mr. Arne Fredly has sold 100,000,000 shares in Hunter Group ASA (the “Company”) at the price of NOK 0.0675 per share. Upon completion of the transaction, AF Capital AS, or any other entities affiliated with Mr. Fredly, will hold zero shares, zero warrants, and no remaining financial interests in the Company and Mr. Fredly will resign from the board of directors of the Company as soon as a replacement has been identified. The price is equal to the estimated net liquidity of the Company, leaving the Company sufficiently capitalized for approximately 18 months, assuming that the Company's shareholders vote in favor of the proposed NOK 0.04 per share dividend on the extraordinary general meeting to be held on 16 February 2023. Net liquidity is calculated as remaining cash and cash equivalents adjusted for legacy working capital, tax liabilities, listing fees, legal fees, accounting/audit fees and other general corporate costs.

Sagittarius Capital Ltd, a company wholly owned by CEO Mr. Erik A.S. Frydendal has purchased 33,333,333 shares in the Company at the price of NOK 0.0675 per share. Following the transaction, Mr. Frydendal, including entities controlled by Mr. Frydendal, holds 38,983,333 shares in the Company, corresponding to 6.08% of the outstanding shares and 6.17% of the votes in the Company, thereby crossing the 5% threshold. In addition, Mr. Frydendal holds options to acquire 4,000,000 shares under the Company’s long term incentive plan. Aggregate of shares and options represent 6.78% of outstanding shares.

Lama Global AS, a company wholly owned by CFO Mr. Lars M. Brynildsrud has purchased 33,333,333 shares in the Company at the price of NOK 0.0675 per share. Following the transaction, Mr. Brynildsrud, including entities controlled by Mr. Brynildsrud, holds 33,348,733 shares in the Company, corresponding to 5.80% of the outstanding shares and 5.88% of the votes in the Company, thereby crossing the 5% threshold. In addition, Mr. Brynildsrud holds options to acquire 1,750,000 shares under the Company’s long term incentive plan. Aggregate of shares and options represent 6.10% of outstanding shares.

COO Sujoy K. Seal has purchased 33,333,334 shares in the Company at the price of NOK 0.0675 per share. Following the transaction, Mr. Seal holds 33,458,334 shares in the Company, corresponding to 5.82% of the outstanding shares and 5.90% of the votes in the Company, thereby crossing the 5% threshold. In addition, Mr. Seal holds options to acquire 2,000,000 shares under the Company’s long term incentive plan. Aggregate of shares and options represent 6.16% of outstanding shares.

The above calculations are based on 575,362,013 outstanding shares, of which 8,212,826 is owned by the Company.

Please refer to the attached filing for further information.

This information is subject to the disclosure requirements pursuant to MAR article 19 and section 5-12 of the Norwegian Securities Trading Act.