Höegh LNG presented financial results for the second quarter of 2013. Total income was USD 51.3 million, though EBITDA declined to USD 7.3 million due to higher construction contract expenses. All four new FSRUs under construction remain on time and on budget for delivery between February and June 2014. Höegh LNG was also awarded pre-FEED studies for a North American FLNG project and an Asian offshore FLNG project.

1. Höegh LNG – The floating LNG services provider
Second Quarter 2013
Presentation of financial results
28 August 2013

2. 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.

3. Agenda
3
 Highlights
 Financials
 Operational review
 Market outlook
 Summary

4. Highlights
4
 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

5. Agenda
5
 Highlights
 Financials
 Operational review
 Market outlook
 Summary

6. Income statement
6
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)

7. Financial position
7
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 liabilities 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

8. Cash flow statement
8
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

9. Agenda
9
 Highlights
 Financials
 Operational review
 Market outlook
 Summary

10. FSRU newbuilding program with Hyundai Heavy Industries Ltd
10
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

11. 11
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

12. 12
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

13. 13
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

14. 14
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

15. 15
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

16. Höegh FLNG Ltd.
16
 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

17. Agenda
17
 Highlights
 Financials
 Operational review
 Market outlook
 Summary

18. Market developments
18
 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

19. Growing global liquefaction capacity
19
 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
Source:InternationalGasUnion,WorldLNGReport
Construction of liquefaction trains 1 and 2 at Sabine Pass

20. Around 30 potential FSRU regasification projects worldwide
20
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

21. 21
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

22. 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%)
22
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

23. Agenda
23
 Highlights
 Financials
 Operational review
 Market outlook
 Summary

24. Summary
24
 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