Golar LNG Partners Second Quarter Results 2013

29 August 2013

This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management’s current expectations, estimates and projections about its 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, Golar LNG Partners 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 liquified natural gas (LNG) and floating storage and regasification unit (FSRU) market trends, including charter rates; changes in the supply and demand for LNG; changes in trading patterns that affect the opportunities for the profitable operation of LNG carriers and FSRUs; Golar LNG Partners ability to acquire new vessels from Golar LNG or third parties; increases in costs; the potential for the exercise of purchase options or early termination of charters by the Partnerships charterers and Golar Partners inability to replace assets and/or long-term contracts; and changes in the ability of Golar LNG Partners to obtain additional financing, in particular, in connection with the recent turmoil in financial markets. Unpredictable or unknown factors herein also could have material adverse effects on forward-looking statements. Please read Golar LNG Partners' filings with the Securities and Exchange Commission for more information regarding these factors and the risks faced by Golar LNG Partners.

2

Forward Looking Statements

Net income attributable to unit holders of $28.0 million and

operating income of $44.4 million.

Generated distributable cash flow of $26.4m for the quarter.

Golar Mazo, Methane Princess and Golar Winter drydocks

completed.

Refinanced Golar Winter and Golar Grand with a new bank loan

facility - $225m term loan and $50m revolver.

Quarterly distribution of $0.515 declared for the quarter.

3

Q2 2013: Highlights & Recent Events

Subsequent events:

Golar Winter modification works completed and vessel delivered to new

location in Brazil.

All 2013 drydocks now complete with no further dockings scheduled prior

to 2015.

Entered into an additional $100 million interest rate swaps: 99% of total

debt/lease obligations (net of restricted cash) now swapped to a fixed rate.

Golar LNG Limited secures two FSRU contracts that represent attractive

near and medium term acquisition prospects.

4

Q2 2013: Highlights & Recent Events

(USD thousands)

2013

Apr-Jun (unaudited)

2013

Jan-Mar (unaudited)

2012

Apr-Jun (unaudited)

(1)

2013

Jan-Jun (unaudited)

2012

Jan-Jun (unaudited)

(1)

2012

Jan-Dec (audited)

(1)

Operating revenues

Vessel operating expenses

Voyage expenses

Administrative expenses

Depreciation and Amortisation

Total operating expenses

Operating income

Interest income

Interest expense

Other financial items

Income before tax

Tax

Net income attributable to non-controlling interests

Net income attributable to Golar LNG Partners LP Owners

78,299

14,070

1,518

1,328

16,991

33,907

44,392

259

(11,987)

(114)

32,550

(2,623)

(1,961)

27,966

74,927

13,130

1,694

1,266

13,675

29,765

45,162

273

(10,381)

1,080

36,134

(3,135)

(2,684)

30,315

71,193

10,469

951

2,449

11,983

25,852

45,341

502

(9,069)

(2,464)

34,310

(1,597)

(2,504)

30,209

153,226

27,200

3,212

2,594

30,666

63,672

89,554

532

(22,368)

966

68,684

(5,758)

(4,645)

58,281

129,796

21,545

1,043

4,037

22,889

49,514

80,282

1,025

(16,710)

(3,521)

61,076

(1,616)

(4,975)

54,485

286,630

45,474

4,471

7,269

51,167

108,381

178,249

1,797

(38,090)

(5,389)

136,567

(9,426)

(10,723)

116,418

Income Statement

5

(1) Results for the Golar Grand and the NR Satu for the periods prior to their acquisition by the Partnership (on November 8, 2012 and July 19, 2012, respectively) when they were owned and operated by Golar have been combined with the previously published results of the Partnership.

(USD thousands)

2013

Jun 30 (unaudited)

2012

Dec 31 (audited)

Short term assets

Cash and cash equivalents

Restricted cash and short-term investments

Other current assets

Long term assets

Restricted cash

Vessels and vessels under capital leases, net

Other long term assets

TOTAL ASSETS

61,085

19,655

17,344

136,168

1,436,215

24,737

1,695,204

66,327

30,900

10,143

190,523

1,192,779

20,302

1,510,974

Balance Sheet: Assets

6

(USD thousands)

2013

Jun 30 (unaudited)

2012

Dec 31 (audited)

Short term liabilities

Current portion of long term debt (including debt due to related parties)

Current portion of obligations under capital leases

Other current liabilities

Long term liabilities and equity

Long term debt (inc loans due to related parties)

Obligations under capital leases

Other long term liabilities

Total Partners’ capital

Accumulated other comprehensive (loss) / income

Non-controlling interest

TOTAL LIABILITIES AND EQUITY

Total debt and capital lease obligations net of restricted cash

Percentage of total debt/lease obligations (net of restricted cash) swapped to a

fixed rate

96,566

-

113,185

916,196

145,987

18,219

330,179

(1,630)

76,502

1,695,204

1,002,926

90%

64,822

5,837

99,058

674,650

406,534

18,529

178,675

(8,989)

71,858

1,510,974

930,420

82%

Balance Sheet: Liabilities

7

Distributable Cash Flow

(USD thousands)

Three months

ended

Jun 30, 2013

Three months

ended

Mar 31, 2013

Net Income before non controlling interest 29,927 32,999

Add: Depreciation and Amortisation (excluding Dropdown Predecessor prior to

acquisition) 16,991 13,675

Unrealised (gain)/loss from interest rate derivatives (4,826) (2,269)

Unrealised foreign exchange & related currency derivative gain (1,542) (1,424)

Deferred financing cost amortization (including historical amortization) 3,408 1,620

Less:

Estimated maintenance & replacement capital expenditures (14,890) (13,730)

Non-controlling interests' share of DCF before maintenance & replacement capital

expenditure (2,635) (3,250)

Distributable cash flows for the quarter 26,433 27,621

Total Distributions declared for the period 30,615 30,615

8

Distributable Cash flow & Distributions

9

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

Q22011

Q32011

Q42011

Q12012

Q22012

Q32012

Q42012

Q12013

Q22013

Public

Golar

Distributable cash

Distributions

Dividends have increased to

$2.06 p/a from the IPO level of

1.54 (34% growth since April

2011)

Drydocking offhire time during

Q1 and Q2 2013 have meant

distributions have exceeded

distributable cash, but this is

mitigated by cash reserves

created in prior periods

No further drydockings before

2015 - significant improvement

in Q3 operating results

expected, aided by increase in

post modification rate for Golar

Winter

10

Counterparty

FS

RU

s

LN

G C

arr

iers

Golar Spirit 10-year contract

Golar Winter 10-year contract

extended to 15 years

Methane

Princess 20-year contract

Golar Mazo 18-year contract

Assets and Contracts

Golar Freeze 10-year contract

Dusup = Dubai Supply Authority. Pertamina = National oil company of Indonesia. Nusantara Regas = Joint venture between Pertamina and PGN (National Gas distribution company of Indonesia)

Nusantara Regas

Satu 11-year contract

$2.5 billion contracted revenue – Average 7.1 years remaining contract term

Golar Grand 5-year contract

Recent dropdown

Golar Maria 5-year contract

Recent dropdown Recent Dropdown

2013 2014 2015 2016 2017 2018 2020 2021 2022

Base Contract Duration Options Option/put to Golar

2023 2024 20252019

11

Near Term Growth Opportunity - Kuwait

Golar LNG recently awarded 5 year contract with

Kuwait National Petroleum Company:

$213 Million TCP value over 5 years.

Contract is for 9 months of regasifaction service per

year.

Golar will trade vessel as LNG carrier during off

season.

FSRU is Golar Igloo:

170,000 cubic meters of storage.

Up to 750 mmscf/day of regasification capacity.

Fuel efficient regasification process.

DFDE engines allow it to trade as very efficient LNG

carrier.

Project start up March 2014.

Middle East is a significant area of LNG supply and

demand – potential fixtures on both departure and

return legs of off season.

Attractive acquisition target

12

Medium Term Growth Opportunity - Jordan

Golar LNG finalized 10 year FSRU contract

in Jordan:

First 5 years EBITDA of $46 Million.

Second 5 years EBITDA of $43 Million.

Jordan has option to terminate contract after

5 years with payment of a termination fee.

FSRU is Golar Eskimo:

160,000 cubic meters of storage.

Up to 750 mmscf/day of regasification

capacity.

Fuel efficient regasification process.

Project start up expected Q4 2014 or Q1

2015.

Golar LNG continues to establish itself as a

leading FSRU provider for long term

service.

Attractive medium term acquisition target.

Golar LNG has a further 10 newbuild LNG carriers

delivering in 2013/2014/2015 and 1 further newbuild

FSRU delivering 2015.

Floating liquefaction projects:

Expect FEED study with Keppel to confirm technical and

economic viability of liquefaction solution.

Douglas Channel and other projects in the Americas and

West Africa have the potential to create long-term

contracted asset opportunities including shipping.

13

Other Growth Opportunities

14

Golar

Spirit

Golar

Winter

Golar

Freeze

Khannur

Solid contract base - Revenue backlog of $2.5 billion and average contract term

of 7.1 years.

2013 drydocking program completed – 4 vessels drydocked in the first half of

2013 - no further dockings scheduled prior to 2015 and a significant improvement

in operating results for Q3 expected.

Identified acquisition targets – Golar LNG recently awarded long-term FSRU

contracts for newbuilds Igloo (Kuwait) and Eskimo (Jordan)

Strong market growth outlook - growing LNG demand and supply creating

demand for related infrastructure including LNG carriers, FSRUs and FLNGs.

Large sponsor asset base - Golar LNG fleet of 11 remaining uncontracted

newbuildings provide substantial dropdown growth potential.

Summary