HÖEGH LNG – A FULLY INTEGRATED LNG INFRASTRUCTURE COMPANY

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Q3 2020 – PRESENTATION OF FINANCIAL RESULTS19 November 2020

Forward looking statements

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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.

5 Q&A

4 Summary

3 Market update

2 Q3 2020 Financials

Agenda

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1 Q3 2020 Review and outlook

Highlights for the third quarter of 2020

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Highlights

EBITDA of USD 53 million

Net loss of USD 2.6 million

Stable operations despite challenging circumstances created by Covid-19

Zero LTIs and 99.9% technical availability year to date

Subsequent events

Höegh LNG shortlisted for First Gen Corp’s FSRU terminal in the Philippines

AIE has signed a lease for up to 25 years with NSW Ports for the Port Kembla Gas Terminal

Tap issue in HLNG 04 and partial buyback of HLNG 03

Covid-19 update

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Ensuring the health and safety of personnel remains the group’s highest priority

Limited operational and no contractual impact on Höegh LNG so far− Full or partial crew changes conducted on all vessels

All assets operating in accordance with their contracts− Revenues collected in accordance with contractual terms

− All assets crewed in accordance with relevant safety requirements

Some business development projects are affected by the pandemic− New projects emerging owing to the competitive LNG price

− Majority of the company’s established project pipeline are keeping original schedules

Financial performance

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Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20

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Total income

Total income Recognition of future revenue

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Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20

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EBITDA

EBITDA Recognition of future revenue

Built EBITDA ChartererUSDm/yr

Höegh LNG Holdings

Arctic Princess* 2006 19** Equinor

Arctic Lady* 2006 19** Total

Independence 2014 47 KN

Höegh Giant 2017 Naturgy

Höegh Esperanza 2018 CNOOC / AGL

Höegh Gannet 2018 Trafigura

Höegh Galleon 2019 Cheniere / AIE

Höegh Gallant (TC in) 2014 Mitsui

Höegh LNG PartnersNeptune 2009 33** Total

Cape Ann 2010 33** Total

PGN FSRU Lampung 2014 40 PGN

Höegh Gallant 2014 HLNG

Höegh Grace*** 2016 42 SPEC

Long-term contract Extension option

2036 20382024 2026 2028 2030 2032 2033 2035 203720342027 2029 203120252020 20222021 2023

FSRU and/or LNGC intermediate charter

Fleet and contract overview

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• LNG carriers** 100% basis, units are jointly owned

AGL - Conditional on FID

AIE - Conditional on FID

*** The initial term of the charter is 20 years. However, each party has an unconditional option to cancel the charter after 10 and 15 years without penalty. However, if SPEC waives its right to terminate in year 10 within a certain deadline, Höegh LNG Partners LP will not be able to exercise its right to terminate in year 10.

Lease back period from HMLP expires mid-2025

Project pipeline

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Selected as FSRU provider

FSRU project

#3

Bilateral projects

Atlantic basin− Existing LNG import terminal

− Ongoing negotiations

− Contract award expected in 2020

Cyprus− Use of existing shoreside

infrastructure

− Assessing market and necessary approvals

Ongoing tenders

Squadron Energy sole owner Signed lease with NSW Ports In final TCP negotiations Planned start-up: H2 2022

EES approval expected H1 2021

TCP signed (conditional) Planned start-up: Q3 2022

FSRU project

#4

FSRU project

#5

Indian subcontinent FID targeted in Q1 2021 Planned start-up: Q3 2022

Latin America HLNG shortlisted Selection of FSRU provider

expected in 2020 FID targeted Q1 2021 Planned start-up: Q1 2022

Indian subcontinent FID targeted in Q1 2021 HLNG exclusivity Planned start-up: Q3 2022

The Philippines In final tender round JCA with Tokyo Gas PCERM in place Planned start-up Q2 2022

HSEQ

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99,9 % 99,8 % 99,8 % 99,5 %99,9 %

2016 2017 2018 2019 2020 YTD

Technical availability

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0,38

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0,31

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2016 2017 2018 2019 2020 YTD

Lost time injury frequency1

1: Calculated per million exposure hours for sea going personnel only

Avenir LNG – steady progress

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First vessel, “Avenir Advantage” commenced three-year TCP with Petronas− Delivered from yard in October 2020

First LNG bunkering job completed in November 2020− Proof of concept for dual service

Second vessel, “Avenir Accolade” currently on sea trials− Three-year TCP with Hygo Energy Transition

Strong development pipeline for new import terminals in addition to charter demand for the 4 newbuilds under construction, all for delivery in 2021

Higas import terminal in Sardinia expected to start operations in January 2021

Avenir Advantage on first LNG bunkering job

The energy transition creates new business opportunities

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HLNG is exploring the opportunities for using its existing FSRUs for storage and delivery of ammonia and hydrogen− Grant received from Innovation Norway, partially funding

HLNG’s ongoing work on developing floating solutions in the supply chain for carbon-free fuels

− Also working on solutions for carbon capture and storage, and CO2 transportation

Significant upward revisions in future hydrogen demand− From 2019 to 2020 DNV GL increased 2050 demand for

hydrogen as an energy carrier from 7EJ/year to 24 EJ/year

Strong synergies with the operation of floating LNG infrastructure and the distribution of hydrogen through existing natural gas pipelines

Source: DNV GL “Energy Transition Outlook 2020”

1 EJ = ~1 tcf = ~20 million tonnes LNG

5 Q&A

4 Summary

3 Market update

2 Q3 2020 Financials

Agenda

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1 Q3 2020 Review and outlook

USD million Q3 2020 Q2 2020

Total income 81.8 82.3

Charterhire and other expenses -0.6 -1.2Operating expenses -17.6 -17.5Administrative and BD expenses -10.6 -5.8

EBITDA 53.0 57.7

Depreciation -28.1 -28.1

EBIT 24.9 29.6

Net interest expense -24.1 -25.4Net other f inancials -1.6 -0.1

Profit before taxes -0.8 4.1

Corporate income tax -1.8 -1.2

Net result for the period -2.6 2.9

Income statement for the quarter ended 30 September 2020

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USD million 30.09.2020 30.06.2020

Investments in vessels and other assets 2 220 2 247Other 139 146Free cash 142 152

Total assets 2 501 2 545

Equity attributable to the parent 294 300Non-controlling interests 302 298

Total equity 596 597

Interest-bearing debt 1 710 1 736Other 195 212

Total equity and liabilities 2 501 2 545

NIBD 1 537 1 560Adjusted equity 767 780Adjusted equity ratio 30 % 30 %

Financial position at 30 September 2020

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Book equity ratio of 30%1

No material change to the financial position quarter-on-quarter

Net interest-bearing debt of USD 1 537 million

1: Adjusted for mark-to-market of hedges

USD million Q3 2020 Q2 2020

Net CF from operating activities 51.2 59.6 of w hich w orking capital adjustments 2.7 6.9

Net CF from investing activities -1.1 -10.8Net CF from financing activities -59.7 -17.0 of w hich new debt 0.0 105.0 of w hich buy-back and repayment of bonds (HLNG 02) 0.0 -65.0 of w hich debt amortisation and interest paid -46.6 -48.0 of w hich change in restricted cash and cash collateral 7.7 15.3

Net change in cash and cash eq. -9.6 31.8

Current cash and cash eq., start 151.9 120.1Current cash and cash eq., end 142.3 151.9

Cash flow statement for the quarter ended 30 September 2020

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Continued reversal of cash collateral

No refinancing activities in the quarter

Liquidity and debt repayment schedule

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1: Consolidated debt as of 30 September 2020 with the following assumptions and adjustments: All balloons assumed refinanced in full, extending current amortisation profiles | HMLP’s RCF is included with the amount drawn at 30 September 2020 and assumed refinanced upon maturity

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Debt repayment schedule1

Amortisation IFRS 16 Leases Balloons Bonds

HLN

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USD 142 million in unrestricted cash end Q3

Cash and capital commitments

No material capital commitments

6.7x net debt to trailing 12-month EBITDA

30% adjusted book equity ratio

Balance sheet metrics

5 Q&A

4 Summary

3 Market update

2 Q3 2020 Financials

Agenda

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1 Q3 2020 Review and outlook

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Global monthly LNG trade

2015 2016 2017 2018 2019 2020

2.3% growth in global LNG trade YTD 2020 despite the impact of Covid-19

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European imports fell by 10% y-o-y

Global LNG trade up 2.3% y-o-y YTD 2020

Chinese LNG import growth continued in Q3, up 13% y-o-y

Source: IHS Markit. The use of this content was authorized in advance.Any further use or redistribution of this content is strictly prohibited without written permission by IHS Markit

LNG is a growth market for the long term

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2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040

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Forecasted global LNG demand by region

Japan, South Korea, and Taiwan Europe North America Other Asia South America Middle East & North Africa Sub-Saharan Africa Other

Source: IHS Markit. The use of this content was authorized in advance.Any further use or redistribution of this content is strictly prohibited without written permission by IHS Markit

38 FSRUs on the water – 8 units in orderbook

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1: Including purpose built FSRUs and conversions, barges excluded2. Orderbook defined as confirmed orders, excluding LOIs, options and conversions not firmed upSource: publicly available company information, Höegh LNG

Botas4 purpose built FSRUs on order – 2 assumed open

38 FSRUs on water

4 conversions on order – all captive for projects

5 Q&A

4 Summary

3 Market update

2 Q3 2020 Financials

Agenda

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1 Q3 2020 Review and outlook

Summary

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EBITDA of 53 million and net loss of 2.6 million for Q3 2020

Stable operations with zero LTIs and 99.9% technical availability year to date

High level of business development activity

Resilient LNG demand – up 2.3% YTD

5 Q&A

4 Summary

3 Market update

2 Q3 2020 Financials

Agenda

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1 Q3 2020 Review and outlook

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Q&A session19 November 2020 - 09:00 CET

Call-in details:Norway +47 2195 6342United Kingdom +44 (0) 203 769 6819United States +1 646 787 0157

Participant passcode: 244610

Webcast: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20201119_1