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 14,200,000 new shares (the "Offer Shares"), each at an offer price of NOK 1.75 (the "NOK 1.75 Offering").

The subscription period in the NOK 1.75 Offering expired on 4 March 2024 at 16:30 hours (CET) (the "Subscription Period"). The preliminary results show that the Company has received valid subscriptions for approx. 40 million new Offer Shares.

The Company will issue 14,200,000 Offer Shares and raise NOK 24.8 million in gross proceeds through the NOK 1.75 Offering.

Final allocation of the Offer Shares is expected to be completed around 10:00 hours (CET) on 5 March 2024, from which subscribers having access to investor services through their VPS account manager are expected to be able to check the number of Offer Shares allocated to them. Subscribers who do not have access to investor services through their VPS account manager may contact the Managers from 10:00 hours (CET) on 5 March 2024 to obtain information about the number of Offer Shares allocated to them.

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 1.75 Offering has been registered with the Norwegian Register of Business Enterprises ("NRBE"). Subject to timely payment of the Offer Shares subscribed for and allocated in the Subsequent Offering, and subject to registration of the capital increase pertaining to the NOK 1.75 Offering being registered in NRBE, the delivery of the Offer Shares pertaining to the NOK 1.75 Offering is expected on or about 14 March 2024. The Managers may be contacted for information regarding allocation, payment, and delivery of the Offer Shares.

DNB Markets, a part of DNB Bank ASA and Fearnley Securities AS (collectively, the "Managers") act as Joint Bookrunners in connection with the NOK 1.75 Offering. Ro Sommernes advokatfirma DA acts as legal advisor to the Company in connection with the NOK 1.75 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.