Press Releases

October 21, 2019

Hunter Group ASA - Hunter Saga Delivered

Oslo, 21 October 2019

Hunter Tankers AS (the “Company”), a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it on 19 October 2019 took delivery of “Hunter Saga” (NB No. 5456), the second of seven identical ECO design VLCC newbuildings from Daewoo Shipbuilding & Marine Engineering (“DSME”) in South Korea. One additional VLCC is scheduled for delivery in 2019, while the remaining four vessels will delivered between March and July 2020. All seven of the Company’s VLCCs are built to the highest standards and will be fitted with scrubbers.

With reference to the sale-and-leaseback transaction announced on 6 September 2019, Hunter Saga was today, simultaneously with acceptance from DSME, delivered to and immediately bareboat chartered back from Ship Finance International Limited. The bareboat rate for Hunter Saga for the first 6 months is $11,500 per day.

Hunter Saga will join Hunter Atla in the Tankers International Scrubber Pool, and will commence trading in the spot market.

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