Höegh LNG : Interim results for the quarter ended 30 September 2019

Hamilton, Bermuda, 21 November 2019 - Höegh LNG Holdings Ltd. ("Höegh LNG") today
reports its financial results for the quarter ended 30 September 2019

Highlights for the third quarter of 2019:

• EBITDA of USD 55.9 million 
• Net profit of USD 3.2 million 
• Dividend of USD 0.025 per share paid in the third quarter of 2019 
• Höegh Galleon delivered from yard and commenced interim LNGC charter contract with Cheniere 
   

Subsequent events:

• Dividend of USD 0.025 per share declared for the fourth quarter of 2019 
• AIE Australia announced process to modify its FSRU terminal development consent to allow for increased annual LNG import volumes 
• HMLP issued new series A preferred units in October and November under its ATM programme equal to USD 8.6 million in net proceeds   

The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: “Höegh LNG’s results for Q3 2019 shows strong improvement compared to the previous quarter due to no negative one-off effects and solid operating performance across the fleet. I am pleased to see continued healthy demand for FSRUs in the market, as reflected by two new projects where Höegh LNG is participating in the formal tender process. The rapid growth in the LNG market continues with 15% volume growth year to date driven by more LNG coming to the market at competitive prices, which supports continued demand for LNG, particularly in the high growth economies in Asia”

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Contacts: 

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131

About Höegh LNG: 

Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The group employs approximately 155 office staff and 545 seafarers.