Höegh LNG - The FSRU provider

Presentation at Pareto Oil & Offshore Conference 2017Sveinung J.S. Støhle

President & CEO

Forward looking statements

2

This presentation contains forward-looking statements which reflects management’s current expectations, estimates and projections about Höegh LNG’s operations. All

statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements.

Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the

negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance

and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results

may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking

statements, which speak only as of the date of this presentation. Unless legally required, Höegh LNG undertakes no obligation to update publicly any forward-looking

statements whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in LNG transportation and

regasification market trends; changes in the supply and demand for LNG; changes in trading patterns; changes in applicable maintenance and regulatory standards;

political events affecting production and consumption of LNG and Höegh LNG’s ability to operate and control its vessels; change in the financial stability of clients of the

Company; Höegh LNG’s ability to win upcoming tenders and securing employment for the FSRUs on order; changes in Höegh LNG’s ability to convert LNG carriers to

FSRUs including the cost and time of completing such conversions; changes in Höegh LNG’s ability to complete and deliver projects awarded; changes to the

Company’s cost base; changes in the availability of vessels to purchase; failure by yards to comply with delivery schedules; changes to vessels’ useful lives; changes in

the ability of Höegh LNG to obtain additional financing, including the impact from changes in financial markets; changes in the ability to achieve commercial success for

the projects being developed by the Company; changes in applicable regulations and laws; and unpredictable or unknown factors herein also could have material

adverse effects on forward-looking statements.

Agenda

3

Company overview

Markets

Summary

Höegh LNG at a glance

▪ Sector: Maritime energy infrastructure – Floating Storage & Regasification Units (FSRU)

▪ Business model: Construction, ownership and operation of FSRUs on long-term

contracts

▪ Largest, most modern and most efficient FSRU fleet in the market

▪ Listings:

OSE / HLNG: MCAP / EV USD 800 million / USD 1.7 billion

NYSE / HMLP: MCAP / EV USD 610 million / USD 1.1 billion

13.5 years

Average remaining contract

length

USD 6.3bn

Revenue backlog

OSE

HLNG NO

Listed OSE since 2011

NYSE

HMLP US

Listed NYSE since 2014

115 / 500

Onshore / offshore

employees

Significant earnings growth driven by long-term contracts

5

27.0 26.5

31.2

36.7 37.7

2Q16 3Q16 4Q16 1Q17 2Q17

USDm EBITDA

10.0 10.0

12.5 12.5 12.5

3Q16 4Q16 1Q17 2Q17 3Q17

USDc Dividend per share

Regasification is the critical link in the global natural gas supply chain

Regasification/

infrastructureConsumptionTransportationLiquefactionProduction

The natural gas value chain

Natural Gas Liquefied Natural Gas Natural Gas

Focus for new

investments

▪ 7 FSRUs delivered

▪ 3 FSRUs under

construction

▪ 2 LNGCs on long-

term contracts

Höegh LNG activities

The fleet at work – providing our clients with industry leading regas services

7

Independence

PGN FSRU Lampung

Höegh Gallant

Höegh Grace

Neptune

FSRU NB

FSRU NB

FSRU NB

Arctic Lady

Arctic Princess

GDF Suez Cape Ann

99.87% 99.70% 99.95% 99.94% 99.74% >99.50 %

2013 2014 2015 2016 2017TD Target

Technical availability

1.07

0.44

0.73

0.00 0.00

<1.00

2013 2014 2015 2016 2017TD Target

LTIF1

Counterparts

Long-term employment in place, continued focus on backlog expansion

8

2017 2018 2019 2020 2021

FSRU #10

Höegh Giant Ghana, 20 years, EBITDA USD 36m

FSRU #8 Chile, 20 years, EBITDA USD 36m

FSRU #9, Pakistan, 20 years, EBITDA USD 36m

FSRUs and current contract allocation

FSRU opportunities and bridging options

LNG shipping market as fallback option

FSRU contract renewals

New FSRU contracts

Additional newbuildings

Solid earnings and dropdown pipeline

9

Q1 2017 annualised EBITDA

Source:

0

50

100

150

200

250

300

350

H1 2017 ex. Grace Höegh Grace Höegh Giant FSRU #9 FSRU #8 FSRU #10

US

D m

illio

n

EBITDA trajectory, current assets and orderbook

Höegh LNG Partners remains an integral part of HLNG’s strategy

▪ Höegh LNG Partners:

Yield of around 9%

Distribution growth 8% p.a. since listing

Coverage ratio 1.1x

▪ Acquisition of Neptune FSRUs

in August 2017 adding to

distribution growth and

coverage

▪ Drop-down of remaining 49%

ownership in Höegh Grace

next in line

10

0

20

40

60

80

100

120

140

160

180

2014 2015 2016 1H 2017 annualized

US

D m

illio

n

HMLP proceeds to Höegh LNG

Equity release MLP distribution IDR

Critical success factors for winning FSRU contracts

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FSRU on order

Access to capital

FSRU experience and reputation

Höegh LNG has a solid platform for securing new FSRU contracts

Höegh LNG

✓

✓

✓

Nakilat alliance a confirmation of Höegh LNG’s leading market position

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Nakilat / Höegh LNG FSRU alliance

▪ MoU signed with the objective to

create a platform to develop new

FSRU projects

FSRUs instrumental in order for Qatar to

establish markets for new LNG supply

Alliance to further enhance Höegh LNG’s

market position

▪ Access to new FSRU opportunities

▪ Access to attractively priced capital

Agenda

13

Company overview

Markets

Summary

Qatar expansion with the most competitively priced LNG

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Source: GIIGNL, other

0

20

40

60

80

100

120

Qatar Australia USA Malaysia Russia Algeria Nigeria Indonesia T & T Egypt

millio

n t

on

nes

LNG exports and capacity and additions, top ten exporters

2016 production Unutilised nameplate capacity, end-2016 Expansions

FSRUs are key in opening up new markets for LNG

15

-

5

10

15

20

25

30

35

40

45

mil

lio

n t

on

nes

South Korea China India FSRU

Source: Wood Mackenzie

More FSRUs needed in order for Pakistan to cover LNG deficit

16

Excelerate

FSRUBW FSRU

GEI/Höegh

LNG FSRU site

Port Qasim, Karachi, PakistanPakistan LNG import ambitions in context

Source: Wood Mackenzie

0

5

10

15

20

25

30

35

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020->

Un

its

Global FSRU contracts in operation

Other Höegh LNG Höegh Committed Other committed Under development/potential

Strong industry fundamentals - FSRU demand increasing steadily

17

Manageable orderbook

18

1) Only committed orders and conversions

78

6

1 1

1

1

21

1

4

1

1

2

0

2

4

6

8

10

12

Höegh LNG Excelerate Golar LNG BW Gas Other

Un

its

FSRU fleet and orderbook1 by owner and employment

Committed Available Committed NB Uncommitted NB

Agenda

19

Company overview

Markets

Summary

Höegh LNG investment considerations

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▪ Solid earnings growth trajectory

▪ Leading market position

▪ Strong industry fundamentals

▪ Proven access to diversified funding sources