Hunter Group ASA - Market Update

14 September 2020

Refinancing update

Hunter Tankers AS (the “Company”), a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it has declared its call option for Hunter Laga, pursuant to the sale-and-leaseback agreement with SFL Corporation Ltd. The repurchase of Hunter Laga will be financed by the USD 157.5m loan facility announced on 18 June 2020, as well as available cash at hand, and is expected to close in approximately two months.

Chartering update

Hunter Disen has been fixed on a 5-7 month time charter (“TC”) at USD 38,000 per day. The TC will commence in early November, immediately following the end of the current TC. 70% of the Company’s fleet days in the second half of 2020 are now booked at an average dayrate of approx. USD 63,000

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 information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.