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Regulatory press release

Hunter Group ASA - First quarter results 2022

Hunter Group
Total revenues of USD 7.63m

- Spot pool revenues of USD 1.33m

- Time charter revenues of USD 6.44m

Total operating expenses of USD 6.72m

- Vessel opex incl. insurance of USD 2.51m

- Voyage exp. and commissions of USD 0.48m

- G&A expenses of USD 0.53m

    - USD 0.29m administrative expenses

    - USD 0.28m legal expenses

EBITDA of USD 4.24m

Net profit of USD -0.70m

Average daily earnings of USD 21,565

- Avg. daily spot earnings of USD 14,720

- Avg. daily time charter earnings of USD 23,850

Opex incl. insurance of USD 6,975 per day per vessel

360 available earnings days and 360 opex days

- 90 pool spot days

- 270 time charter days

Fourth quarter cash flow breakeven of approx. USD 23,500 per day

Key events in 1Q 2022

Entered into three 12-month index-based linked charters for Hunter Idun, Hunter
Frigg and Hunter Disen

- All three charter rates will be calculated on the basis of the daily rate for
TD3C (Saudi-China) plus varying premiums, and  adjusted for the vessels' speed,
consumption and fuel type

- Hunter Idun commenced her charter on January 25th

- Hunter Frigg commenced her charter March 28th

- Hunter Disen commenced her charter on May 1st

Subsequent events

The Annual General Meeting was held on 27 April 2022. All resolutions were
passed in accordance with the proposals set out in the notice

As of the date of this report, 68% of days in the second quarter of 2022 have
been booked at an average est. dayrate of USD 17,500
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