Company presentation June 2018 1 Forward looking statements This - PowerPoint PPT Presentation

Höegh LNG - the FSRU provider Company presentation June 2018 1

Forward looking statements 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 forwa rd-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 ve ssels; 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 ord er; 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 a bility 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 fr om 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. 2

Höegh LNG at a glance ▪ Sector: Maritime energy infrastructure – Floating Storage & Regasification Units (FSRUs) ▪ Largest, most modern and most efficient FSRU 8 FSRUs in operation 2 LNGCs in operation 2 FSRUs under construction fleet in the market 9.4 years USD 3.2 bn ▪ Market cap / EV: USD 450m / USD 1.4bn Avg. remaining contract length Revenue backlog ▪ Assets / equity ratio*: USD 2.0bn / 40% ▪ Revenues / EBITDA**: USD 290m / USD 150m ▪ Employees: 125 onshore / 525 offshore HLNG / HLNG02 / HLNG03 HMLP / HMLP-A * 31 March 2018 ** Q1 2018 annualised 3

Höegh LNG: Unlocking access to the global LNG market Höegh LNG focus The natural gas value chain Natural Gas Liquefied Natural Gas Natural Gas Regasification/ Production Liquefaction Transportation Consumption infrastructure Höegh LNG business model Construction, ownership and operation of FSRUs on long-term contracts

Consistently solid operational performance across the global fleet Technical availability 100.00% 99.87% 99.95% 99.94% 99.79% 99.70% >99.50% Arctic Princess Independence Arctic Lady Neptune Höegh Giant GDF Suez Cape Ann Höegh Gallant 2013 2014 2015 2016 2017 2018 YTD Target Höegh Grace Höegh Esperanza Lost time injury frequency 1 PGN FSRU Lampung 1.07 <1.00 0.73 FSRU NB 0.44 0.38 0.00 0.00 FSRU FSRU intermediate trading LNG carrier FSRU contract with future start-up 2013 2014 2015 2016 2017 2018 Target YTD 1 Per million work hours 5

Solid strategic rationale backing existing FSRU contracts GDF Suez PGN FSRU Höegh Neptune Cape Ann Lampung Independence Höegh Gallant Höegh Grace Höegh Giant Esperanza Turkey India Indonesia Lithuania Egypt Colombia WW trading China Unit Charterer To cover deficit Increase energy To replace Diversification of Offsetting deficit Security of Trading as Offset seasonal Strategic rationale in power supply using expensive liquid natural gas in indigenous supply in periods LNGC, variations in production by alternative to oil products in supply, natural gas of drought confirming natural gas FSRUs’ flexibility using low cost coal power alternative to supply demand LNG and to generation pipeline gas offset declining domestic gas production 6

Employment opportunities targeted for two FSRU newbuildings in otherwise busy tendering market Built EBITDA Charterer USDm/yr 2018 2020 2022 2024 2026 2028 2030 2031 2032 2033 2034 2035 2036 2037 2038 Höegh LNG Holdings Arctic Princess* 2006 19** Statoil Arctic Lady* 2006 19** Total Independence 2014 47 KN Höegh Giant 2017 GNF Penco / other long-term contract Höegh Esperanza 2018 CNOOC / Tendering Delivery Dec 2018 FSRU#9 2018 Tendering Delivery May 2019 FSRU#10 2019 Tendering Höegh LNG Partners Neptune 2009 33** Engie GDF Suez Cape Ann 2010 33** Engie PGN FSRU Lampung 2014 40 PGN Höegh Gallant 2014 38 Egas Höegh Grace 2016 42 SPEC FSRU and/or LNGC Long-term contract LNGC interim trading Extension option Under construction intermediate charter * LNG carriers ** 100% basis, units are jointly owned 7

3-yr charter to CNOOC: Höegh Esperanza to offset seasonal demand fluctuations in China Northern coastal China: LNG imports by terminal 3-year time charter with CNOOC 2,400 ▪ Höegh Esperanza entered a 3+1 year FSRU/LNGC 2,200 contract with CNOOC on 5 June 2018 Imports exceeding 2,000 ▪ Guaranteed minimum utilisation in FSRU mode at the regas capacity Thousand metric tons 1,800 Tianjin LNG terminal in China 1,600 ▪ The balance of the year in LNGC mode and/or FSRU mode 1,400 ▪ Rate structure corresponding to the mode of use 1,200 1,000 800 China LNG market 600 ▪ Aggressive coal-to-gas switch triggered a 46% hike in LNG 400 demand in 2017 to 38.7 million tonnes 200 ▪ Momentum continues into 2018 with imports reaching 12.4 - million tonnes in Q1 2018 (up 61% from Q1 2017) Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 ▪ Continued strength in Chinese LNG imports expected Dalian LNG import Tangshan LNG import Tianjin (CNOOC) LNG import Qingdao LNG import Tianjin (Sinopec) LNG import Northern capacity Source: IHS Waterborne LNG, IHS Markit 8

Agenda ▪ Company overview ▪ Market update ▪ Financials 9

LNG demand forecasted to continue its roboust long-term growth path LNG supply and demand, 2010-2030 ▪ Natural gas’ share of the global energy mix increasing  Rapid growth of shale gas production in North America  Policy actions for clean energy support natural gas  Rapid growth in the supply of LNG and more flexible contract terms ▪ LNG available at attractive prices relative to competing fuels, such as oil Source: Cheniere 10

Strong momentum in LNG trade into 2018 LNG trade by month, global 31 ▪ LNG trade reached 130 million tonnes by end-May, up 8.1% from LNG trade in 5M 2018: Up 8.1% y/y 29 year-ago levels 27 ▪ Trade growth driven by expanding 25 million tonnes supply and growing demand for LNG 23 21 ▪ LNG prices hit a three-year high in February 19  Reflecting robust demand 17  Busy spot market activity, from Chinese buyers in particular 15 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2013 2014 2015 2016 2017 2018 Source: Waterborne LNG / IHS Markit 11

FSRUs have become instrumental in opening up new markets for LNG CAGR 2007 – 2017, LNG markets vs FSRUs 35% 29% 30% 24% 25% 20% 15% 8% 10% 7% 5% 0% LNG volumes LNG importers* FSRU importers FSRUs in operation 2007 172 17 2 2 2012 238 25 7 10 2017 297 35 14 22 5M 2018 130 36 15 23 * Importers with greater import capacity than o.m million tonnes per annum Source: Höegh LNG / IHS Markit 12

Busy tendering market for FSRUs FSRU contract awards, 2018 FSRUs installed in 2018 Public domain FSRU tenders* ▪ ▪ ▪ ▪ Pakistan Caribbean (mid-scale) Bangladesh, 1st FSRU Australia ▪ ▪ ▪ ▪ Hong Kong Turkey, 2nd FSRU Brazil Sudan ▪ ▪ ▪ Bangladesh (barge) Colombia Thailand ▪ ▪ 2018 start-up, scheduled Croatia UAE ▪ ▪ India (October 2018) Cyprus ▪ ▪ Bangladesh, 2nd FSRU Lebanon (December 2018) ▪ Mexico ▪ Myanmar * Projects that have appeared in media. List is not complete 13