HÖEGH LNG – A FULLY INTEGRATED LNG INFRASTRUCTURE COMPANY

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PRESENTATION AT PARETO ENERGY CONFERENCE17 September 2020

Sveinung J.S. StøhlePresident & CEO

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.

3 Summary

2 Market update

Agenda

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1 Company update

Höegh LNG at a glance

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HMLP: Mcap USD ~350mHMLP-A preferred

HLNG NO: Mcap USD ~100m HLNG03 / HLNG04 bond loans

USD 2.5 bn / 30%Assets / Equity ratio¹

USD ~340m / ~230mRevenues / EBITDA²

175 onshore / 600 offshore

Employees

1: 30 June 2020, adjusted for mark-to-market of interest rate swaps2: LTM Revenues and EBITDA

Long-term contracts – stable cash flows –strong distribution coverage

Future business

Business development

Drop-down candidates

Fleet ownership and operation

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

2016 2017 2018 2019 2020 YTD

Technical availability

Sustainable, safe and reliable operations

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Health and safety of our personnel has the highest priority

Limited operational and no contractual impacts from Covid-19− All charter parties in force and unchanged

− All units fully operational and crewed according to relevant safety requirements

0,00

0,38

0,00

0,31

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2016 2017 2018 2019 2020 YTD

500 days passed without any LTIs1

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

Financial performance

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90

2q17 3q17 4q17 1q18 2q18 3q18 4q18 1q19 2q19 3q19 4q19 1q20 2q20

USD

milli

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EBITDA

EBITDA Recognition of future revenue

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140

2q17 3q17 4q17 1q18 2q18 3q18 4q18 1q19 2q19 3q19 4q19 1q20 2q20

USD

milli

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Total income

Total income Recognition of future revenue

Cost-saving plan implemented and on schedule

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Target to save/postpone:− USD 6-8 million in reduced Opex and SG&A

− USD 3 million in dry docking off-hire to be postponed to 2021

− All savings are estimated compared with original plans and budget for 2020

SG&A expenses declined 38% q-o-q− USD 3.5 million decline in SG&A q-o-q

− Two thirds a result of implemented cost-saving plan, with some aid from Covid-19 related savings with virtually no travel expenses incurred in Q2

− About one third is explained by seasonality due to holiday pay

− Favourable FX development for non-USD SG&A

FSRUs 2 247

Other 146Cash & eq. 152

Asset-backed debt 1 358

Bonds; 221

Other 186

Equity 780

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500

1 000

1 500

2 000

2 500

3 000

Assets Liabilities

USD

milli

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Balance sheet1 at 30 June 2020

Solid financial position – no additional capex commitments

81: HMLP consolidated, adjusted for mark-to-market of hedging reserves

USD 152 million in unrestricted cash end Q2

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

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 Under construction

2020 20222021 2023

FSRU and/or LNGC intermediate charter

2036 20382024 2026 2028 2030 2032 2033 2035 203720342027 2029 20312025

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

0%

10%

20%

30%

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70%

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100%

2020 2021 2022

Charter coverage1

Charter coverage Charter coverage incl. Options

Charter coverage 2020-2022

98% charter coverage in 2020

85% charter coverage in 2021 if options are executed by charterers (66%)

Near-term charter coverage will be covered by short-term FSRU contracts and/or interim LNGC contracts before long-term FSRU contracts kick-in

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1: On 100% basis for 12 vessels, four units are jointly owned

Project pipeline

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Selected as FSRU provider

FSRU project

#3

Bilateral projects

Atlantic basin− Ongoing negotiations

− Potential FID 2020

− Potential start-up 2021

Cyprus− Proposal receives interest

− Constructive dialogue with authorities

Ongoing tenders Secured pipeline access HLNG exclusivity

EES approval expected H1 2021

TCP signed

FSRU project

#4

FSRU project

#5

FSRU project

#6

Indian subcontinent FID targeted in 2020

Latin America HLNG shortlisted FID targeted in 2020

Latin America HLNG preferred bidder Start-up 2023 Possible competition from

other solutions

Indian subcontinent HLNG exclusivity Batangas City, Philippines

HLNG one of three tenderers Start-up Q1 2022

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Höegh LNG Excelerate Golar LNG BW LNG Other Captive

Uni

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FSRU fleet1 and orderbook2 - by owner

Conv FSRU NB FSRU NB order Conv order

37 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

Botas

MOL

Gazprom

Kol / Kal

SWAN

Java-1

Maran

Dynagas

Botas

Dynagas

4 purpose built FSRUs on order

37 FSRUs on water

KARMOL

4 conversions on order

El Salvador

OLT

VPower

Natural gas – soon the world’s largest energy source

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Natural gas projected to be the world’s largest energy source by the mid-2020s

Lower carbon intensity combined with policies to maintain energy security underpins demand for natural gas

Greater China and the Indian subcontinent will account for more than 75% of natural gas imports from 2035

25% of world gas demand will be traded between regions by 2035− A large share will be in the form of LNG

− LNG exports projected to more than double by 2050

− This will require new import facilities

Source: DNVGL Energy Transition 2020

Natural Gas/LNG

6.5% growth in global LNG trade in H1 2020

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Europe continues to be the main growth market

Global LNG trade up 6.5% y-o-y in H1 2020

Chinese LNG import growth bounced back in Q2 2020 with 20% y-o-y

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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Global monthly LNG trade

2015 2016 2017 2018 2019 2020

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 continues to be a growth market

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LNG demand growth expected to return from 2021

2020 expected demand growth revised due to Covid-19

Growth led by China and emerging markets in South/Southeast Asia

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

11,9

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10,9

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2019 2020 2021 2022 2023 2024

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Impact of H1 2020 market shock on near-term LNG demand

Reduction Pre-COVID LNG outlook COVID outlook: July 2020

Note: Outlook from July 2020, Pre-Covid outlook from February 2020

Spot LNG is now cheaper than coal

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Fuel price comparison, LNG vs liquids and coal (USD / MMBtu)

MGO, Global 20 ports average (USD/MMBtu)

HFO / IFO380, Global 20 ports average(USD/MMBtu)

LNG Platts Japan Korea Marker (USD/MMBtu)

LNG Platts Mediterranean (USD/MMBtu)

LNG Platts North West Europe (USD/MMBtu)

HH Spot Price (USD/MMBtu)

Coal delivered North West Europe,USD/MMBtu

Sources: S&P Global Platts, US Energy Information Administration, Ship&Bunker

Summary

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Stable EBITDA and world class operations despite Covid-19

Spot LNG now cheaper than coal

9 FSRU projects in the development pipeline

HÖEGH LNG – A FULLY INTEGRATED LNG INFRASTRUCTURE COMPANYForward looking statementsAgendaHöegh LNG at a glanceSustainable, safe and reliable operationsFinancial performanceCost-saving plan implemented and on scheduleSolid financial position – no additional capex commitmentsFleet and contract overviewCharter coverage 2020-2022Project pipeline37 FSRUs on the water – 8 units in orderbookNatural gas – soon the world’s largest energy source 6.5% growth in global LNG trade in H1 2020LNG continues to be a growth market Spot LNG is now cheaper than coalSummary