Hunter Group ASA - Memorandum of Agreement signed

Oslo, June 17th 2019

Hunter Tankers AS (the "Company"), a wholly owned subsidiary of Hunter Group ASA has today signed a Memorandum of Agreement (the "MoA"), with Far Eastern buyers  (the “Buyer”) to sell one of the Company’s vessels at a price of USD 98,000,000.  As security for the correct fulfillment of the MoA the Buyers have agreed to pay a deposit equal to 20% of the purchase price.  The vessel will be delivered to the Buyers on October 31st 2019 which will also be the closing date for the transaction.

Furthermore, the Company is still in advanced discussions regarding the sale of a second vessel.

Contact: Erik A.S. Frydendal, ef@huntergroup.no, Ph.: +47 957 72 947

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