Höegh LNG Partners LP : HMLP 2Q22 Presentation

Agenda

1 2Q 2022 Highlights

2 2Q 2022 Financials

3 Market Update

4 Summary

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Forward-Looking Statements

This presentation contains certain forward-looking statements concerning future events and our operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "project," "will be," "will continue," "will likely result," "plan," "intend" or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Partnership's control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to: the effects of outbreaks of pandemic or contagious diseases, including the length and severity of the recent worldwide outbreak of COVID-19, including its impact on the Partnership's business liquidity, cash flows and operations, as well as the operations of its customers, suppliers and lenders; market conditions and trends for floating storage and regasification units ("FSRUs") and liquefied natural gas ("LNG") carriers, including hire rates, vessel valuations, technological advancements, market preferences and factors affecting supply and demand of LNG, LNG carriers, and FSRUs; our distribution policy and ability to make cash distributions on our units or any changes in the quarterly distributions on our common units; restrictions in our debt agreements and pursuant to local laws on our joint ventures' and our subsidiaries' ability to make distributions; the ability of Höegh LNG to meet its financial obligations to us pursuant to the Suspension and Make-Whole Agreements, the Suspended Gallant Charter, any funding requests under the $85 million revolving credit facility and its guarantee and indemnification obligations; the change in the ability of Höegh LNG to compete with us as a result of its completion of the Amalgamation; our ability to compete successfully for future chartering and newbuilding opportunities; the consummation of the proposed merger transaction with Höegh LNG and the realization of any benefits therefrom; demand in the FSRU sector or the LNG shipping sector, including demand for our vessels; our ability to purchase additional vessels from Höegh LNG in the future; our ability to integrate and realize the anticipated benefits from acquisitions; our anticipated growth strategies, including the acquisition of vessels; our anticipated receipt of dividends and repayment of indebtedness from subsidiaries and joint ventures; effects of volatility in global prices for crude oil and natural gas; the effect of the worldwide economic environment; turmoil in the global financial markets; fluctuations in currencies and interest rates; general market conditions, including fluctuations in hire rates and vessel values; changes in our operating expenses, including drydocking, on-water class surveys, insurance costs and bunker costs; our ability to comply with financing agreements and the expected effect of restrictions and covenants in such agreements; the financial condition, liquidity and creditworthiness of our existing or future customers and their ability to satisfy their obligations under our contracts; our ability to replace existing borrowings, make additional borrowings and to access public equity and debt capital markets; planned capital expenditures and availability of capital resources to fund capital expenditures; the exercise of purchase options by our customers; our ability to perform under our contracts and maintain long-term relationships with our customers; our ability to leverage Höegh LNG's relationships and reputation in the shipping industry; our continued ability to enter into long-term,fixed-rate charters and the hire rate thereof; the operating performance of our vessels and any related claims by TotalEnergies SE, PGN LNG or other customers; our ability to maximize the use of our vessels, including the redeployment or disposition of vessels no longer under long-term charters; the results of the arbitration with the charterer of the PGN FSRU Lampung; timely acceptance of our vessels by their charterers; termination dates and extensions of charters; the impact of the Russian invasion of Ukraine; our ability to successfully remediate the material weakness in our internal control over financial reporting and our disclosure controls and procedures; the cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business; economic substance laws and regulations adopted or considered by various jurisdictions of formation or incorporation of us and certain of our subsidiaries; availability and cost of skilled labor, vessel crews and management, including possible disruptions, including but not limited to the supply chain of spare parts and service engineers, caused by the COVID-19 outbreak; the number of offhire days and drydocking requirements, including our ability to complete scheduled drydocking on time and within budget; our general and administrative expenses as a publicly traded limited partnership and our fees and expenses payable under our ship management agreements, the technical information and services agreement and the administrative services agreement; the anticipated taxation of the Partnership, its subsidiaries and affiliates and distributions to its unitholders; estimated future maintenance and replacement capital expenditures; our ability to hire or retain key employees; customers' increasing emphasis on environmental and safety concerns; potential liability from any pending or future litigation; risks inherent in the operation of our vessels including potential disruption due to accidents, political events, piracy or acts by terrorists; future sales of our common units, Series A preferred units or other securities in the public market; the interruption or failure of our information technology and communication systems; our business strategy and other plans and objectives for future operations; and other factors listed from time to time in the reports and other documents that we file with the SEC, including our Annual Report on Form 20-F for the year ended December 31, 2021 and subsequent quarterly reports on Form 6-K.

All forward-looking statements included in this presentation are made only as of the date of this presentation. New factors emerge from time to time, and it is not possible for the Partnership to predict all of these factors. Further, the Partnership cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. The Partnership does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

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Glossary

• "HMLP" or the "Partnership" - Höegh LNG Partners LP
• "HLNG" or "Höegh LNG"- Höegh LNG Holdings Ltd.
• "Höegh LNG Group" - HMLP and HLNG
• "LNGC" - Liquefied Natural Gas Carrier
• "FSRU" - Floating Storage and Regasification Unit
• "PGN" - Perusahaan Gas Negara
• "SPEC" - Sociedad Portuaria El Cayao S.A. E.S.P. (JV of Promigas and private equity)
• "PT HLNG" - PT Höegh LNG Lampung
• "NFE" - New Fortress Energy

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HMLP Second Quarter 2022 Highlights

• All units operating according to contract and at 100% availability in the quarter
• Total revenues of $36.9 million, net income of $13.1 million and limited partners' interest in net income of $9.2 million
• Segment EBITDA(1) of $31.0 million
• Continued measures to mitigate the risks from the COVID-19 pandemic and ensure the health and safety of crews and staff, whose wellbeing are of the highest priority
• Despite the pending arbitration with the charterer under the lease and maintenance agreement for the PGN FSRU Lampung, both parties have continued to perform their respective obligations under the agreement
• Closed the refinancing of the Cape Ann debt facility
• On August 12, 2022, the Partnership announced that it has established a record date of August 22, 2022, for a special meeting of its common unitholders currently planned to take place on September 20, 2022. At the special meeting, the holders of the Partnership's common units will vote on the previously announced proposed merger agreement with Höegh LNG pursuant to which Höegh LNG will acquire, for cash, all of the outstanding publicly held common units of the Partnership, at a price of $9.25 per common unit.

1. Segment EBITDA is a non-GAAP financial measure. See the Appendix for a definition of Segment EBITDA and a reconciliation of Segment EBITDA to net income, the most directly comparable US GAAP financial measure.

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