Höegh LNG: Merger agreement approved by Höegh LNG Partners LP common unitholders

HAMILTON, Bermuda, 20 September 2022 -- Höegh LNG Holdings Ltd. (“Höegh LNG”) announces that at a special meeting held today, the common unitholders of Höegh LNG Partners LP (NYSE: HMLP) (the “Partnership”) voted on and approved the Agreement and Plan of Merger (the “Merger Agreement”), dated as of 25 May 2022, by and among Höegh LNG, Hoegh LNG Merger Sub LLC, the Partnership and Höegh LNG GP LLC, and the merger contemplated thereby (the “Merger”). Pursuant to the Merger Agreement, Höegh LNG has agreed to acquire all of the outstanding common units of the Partnership (other than those held by Höegh LNG) for $9.25 per unit in cash. The consideration to be paid by Höegh LNG will be funded in full through an equity capital contribution from Höegh LNG’s sole shareholder.

The Merger is expected to close on or about 23 September 2022.

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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 "Enabling the transition to Clean Energy". The company is owned by Larus Holding Limited, a 50/50 joint venture between Leif Höegh & Co. Ltd.  and Funds managed by Morgan Stanley Infrastructure Partners, 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, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 180 office staff and 680 seafarers. Please see: www.hoeghlng.com