Höegh LNG – The floating LNG services provider

Second Quarter 2013

Presentation of financial results 28 August 2013

Forward looking statements

2

This presentation contains forward-looking statements 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, 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; increases in

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, in particular, currently, in connection with the

turmoil in financial markets; the success in achieving 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

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Highlights

Financials

Operational review

Market outlook

Summary

Highlights

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Total income USD 51.3 m (32.3)

EBITDA USD 7.3 m (9.7)

Loss before tax USD 6.0 m (0.6 profit)

All four new FSRUs on time and on budget

New time charter entered into for LNG Libra

Awarded pre-FEED study for North American

jetty-moored barge FLNG

Awarded pre-FEED study for offshore FLNG

project in Asia

Commitment letters received for USD 299

debt facility for the financing of the PGN FSRU

project. Facility expected to be signed shortly

Agenda

5

Highlights

Financials

Operational review

Market outlook

Summary

Income statement

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USD million 2Q2013 1Q2013 4Q2012 3Q2012 2Q2012 YTD2013 YTD2012

TOTAL INCOME 51,3 29,5 37,6 38,0 32,3 80,7 60,0

Charterhire expenses (5,1) (5,1) (5,2) (5,2) (5,1) (10,2) (10,3)

Operating expenses (8,5) (8,4) (10,1) (7,8) (7,5) (16,9) (15,2)

Construction contract expenses (22,5) - - - - (22,5) -

Administrative expenses (3,8) (3,9) 4,1 (3,5) (2,9) (7,7) (6,6)

Business dvelopment expenses (4,1) (4,6) (5,8) (8,2) (7,1) (8,7) (12,4)

EBITDA 7,3 7,5 20,5 13,2 9,7 14,8 15,5

Gain /(loss) on sale of assets - - 10,4 0,0 - - -

Depreciation and impairment (7,6) (7,3) (8,4) (6,2) (4,1) (15,0) (8,1)

EBIT (0,3) 0,1 22,5 7,0 5,6 (0,2) 7,4

Interest expenses (5,9) (8,3) (8,5) (6,1) (6,1) (14,2) (12,2)

Interest income 0,0 0,1 0,0 0,0 0,0 0,1 0,1

Other financial items 0,2 0,5 (0,4) 0,1 1,0 0,7 1,4

PROFIT OR (LOSS) BEFORE TAX (6,0) (7,6) 13,6 1,1 0,6 (13,5) (3,3)

Taxes (0,1) (0,4) 0,0 (0,2) - (0,5) -

NET PROFIT OR (LOSS) (6,1) (7,9) 13,6 0,9 0,6 (14,1) (3,3)

Financial position

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USD million 30.06.2013 31.03.2013 31.12.2012 30.09.2012 30.06.2012

Licences, design and other intangibles 74 74 74 74 83

Investments in newbuildings , vessels 814 797 713 685 578

Other assets 45 19 15 18 30

Hedging reserves 13 3 - - -

Restricted non-current cash 14 13 23 23 23

Current cash and marketable securities 124 176 247 133 223

TOTAL ASSETS 1 084 1 082 1 072 932 937

Total equity 381 349 344 328 326

Interest bearing debt 561 569 559 430 433

Hedging reserves 96 123 133 137 138

Other l iabilities 47 41 36 37 40

TOTAL EQUITY AND LIABILITIES 1 084 1 082 1 072 932 937

Total equity adjusted for hedge reserves 463 469 477 465 464

Equity ratio adjusted for hedge reserves 43% 43% 44% 50% 50%

Net interest bearing debt * 423 380 290 274 187

* Gross IBD less cash, mark.securities and restricted cash

Cash flow statement

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USD million 2Q2013 1Q2013 4Q2012 3Q2012 2Q2012 YTD2013 YTD2012

Net profit or (loss) before tax (6) (8) 14 1 1 (14) (3)

Adjustments of non-cash P&L items 10 15 (1) 12 10 25 19

Net changes in working capital, other (4) 12 (3) 4 1 8 (11)

Net cash flow from operating activities 0 19 10 17 11 20 5

Proceeds from sale of marketable securities 80 - - 81 42 80 102

Investments in marketable securities - - (50) - - - (155)

Investments in vessels and newbuildings (38) (90) (32) (98) (2) (128) (87)

Investments in intangibles and equipment (0) (3) - - - (4) (2)

Proceeds from sale of projects and equimpent - - 20 - -

Net cash flow from/(used in) investing activities 42 (93) (62) (17) 40 (51) (142)

Proceeds from borrowings - 19 130 - - 19 -

Repayment of borrowings (3) (3) (3) (3) (3) (7) (6)

Interest paid (8) (8) (6) (6) (6) (16) (12)

Net proceeds issue of capital - - - - - - 202

Other financing activities (2) (4) (6) (0) (1) (7) (4)

Net cash flow from/(used in) financing activities (14) 2 115 (10) (10) (11) 180

TOTAL CASH FLOW 28 (71) 64 (9) 41 (43) 42

Agenda

9

Highlights

Financials

Operational review

Market outlook

Summary

FSRU newbuilding program with Hyundai Heavy Industries Ltd

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Hull Project Construction Delivery

2548 Perusahaan Gas Negara 72% April 2014

2549 Klaipedos Nafta 87% February 2014

2550 Colbun / AES Gener 57% June 2014

2551 Open 0% March 2015

Mooring Perusahaan Gas Negara 50% April 2014

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Klaipedos Nafta FSRU

FSRU launched in May 2013 and will be

delivered ex shipyard end February 2014

Klaipedos Nafta's jetty and pipeline on

schedule

Terminal scheduled to commence operations

in second half 2014

Pursuing interim employment of FSRU before

starting operations in Lithuania

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Perusahaan Gas Negara FSRU

FSRU launched in July 2013 and will be

delivered ex shipyard in April 2014 for

operations to commence according to

schedule in June 2014

Construction of FSRU and mooring is

progressing according to schedule and budget

Commitment letters received for USD 299

million debt facility, and facility documentation

expected to be signed shortly

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Perusahaan Gas Negara Mooring

Mooring construction ahead of

schedule and on budget

Expect to sign installation contract in

Q42013

Mooring to be transferred to PGN upon

acceptance

Mooring yoke structure construction

Weather waning swivel Gas transfer lines

Platform

Transfer pipeline

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Colbún / AES Gener FSRU

Preferred bidder status since

September 2012

Colbún and AES Gener's work to

get access to existing jetty system

has taken longer than expected

FSRU negotiations are continuing

Contract term 10 years plus five

year extension option

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Vessels in operation

Existing fleet operated safely and without incidents

Project where GDF Suez Cape Ann will serve as China's first FSRU on schedule for

start inOctober 2013

LNG Libra without employment from January to June 2013. New time charter with

Gas Natural until November 2013 with option to extend. Docked in May 2013.

Considering a sale of the vessel

Norman Lady's time charter ends in September 2013. Considering a sale

Höegh FLNG Ltd.

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Developed a new strategic plan for capitalisation and growth of Höegh FLNG, the

main focus being a separate listing. A lead investment bank selected to manage

the process

Pursuing small scale barge FLNG opportunities in Asia, North America and Africa

Strong interest for barge based solutions

Awarded paid engineering studies for a North American barge FLNG project and

an Asian offshore FLNG project

Agenda

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Highlights

Financials

Operational review

Market outlook

Summary

Market developments

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Natural gas demand has grown by

2.7% p.a. since 2000

LNG demand has risen by 7.6% p.a.

in the same period

Active FSRU market

Two recent awards

One project completed

Eight on order : two

uncommitted

Positive long-term outlook for LNG

carriers, but challenging short term

Evolving FLNG market

Woodside recommends to build 3

FLNGs for Browse fields

Petronas to decide on second

FLNG

PTTEP to decide on FLNG partner

for Cash Maple in 2014

GDF Suez to enter FEED for

Bonaparte FLNG in 2013/14

Growing global liquefaction capacity

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Global liquefaction capacity was

281 mtpa at the end of 2012

110 mtpa of capacity is currently

under construction

158 mtpa of additional capacity is

in FEED stage

357 mtpa of further capacity has

been proposed

Sourc

e:

Inte

rnatio

nal G

as U

nio

n,

World

LN

G R

eport

Construction of liquefaction trains 1 and 2 at Sabine Pass

Around 30 potential FSRU regasification projects worldwide

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Around 30 projects in pipeline

16 projects in Asia/Middle East

6 projects in South America

11 projects in Europe/Africa

Owner FSRUs Customers*

Höegh LNG 2+4 GDF Suez (2),

Perusahaan Gas Negara,

Klaipedos Nafta,

Colbun/AES Gener

Golar LNG 4+2 Petrobras (2), Pertamina,

Dubai Power Authority,

GasAtacama, Jordanian

Energy Ministry, Kuwait

National Petroleum

Company

Excelerate 8+1 YPF (2), KNPC,

Petrobras, PREPA, Israel

Electric Corporation,

Ukraine NLG Terminal

National Project

BW Gas 0+1 N/A

* Projects in operation or awarded

Existing

Under construction / awarded

Potential

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Near-term FSRU contract award opportunities

Project Pre-

qualified Bid Selection

Contract

award Start-up

Uruguay Yes Q2 2013 Q2 2013 Q3 2013 2015

Chile Preferred

bidder Done Done Q4 2013 2015*

India Yes Q2 2013 Q4 2013 2013 2015

Lebanon Yes Q3 2013 Q4 2013 2014 2016

Pakistan Yes Q4 2013 Q4 2013 Q4 2013 2014

Port Meridian Exclusive N/A N/A Q4 2013 2016

* Subject to final agreement

Global LNG fleet overview

15 FSRUs in fleet

8 FSRU newbuildings on order plus up to

four options to change from LNGC to

FSRU

365 LNG vessels in fleet

103 newbuildings on order (28%)

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Type Delivered Newbuildings

on order

Under

conversion Total

LNGC 365 103 - 468

FLNG - 3 - 3

FSRU 15* 8** - 23

Total 380 114 0 494

LNGC fleet FSRU fleet

* 10 newbuildings and 5 conversions

** In additional to eight firm FSRU orders globally, Golar LNG has options to convert up to four LNGC orders to FSRUs

Source: Wood Mackenzie, LNG Unlimited, Fearnley LNG

Agenda

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Highlights

Financials

Operational review

Market outlook

Summary

Summary

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Strong market prospects for FSRUs driven by

liquefaction capacity under construction

Newbuilding programme on track and on

budget

LNG Libra on new time charter

Paid pre-FEED work for two FLNG projects

Considering separate listing of Höegh FLNG