HAMILTON, Bermuda, Nov. 17, 2022 /PRNewswire/ — Höegh LNG Companions LP (NYSE: HMLP-PA) (the “Partnership”) in the present day reported its monetary outcomes for the quarter ended September 30, 2022.

Highlights

• Reported for the third quarter of 2022 whole time constitution revenues of $36.9 million (Q3 2021: $35.6 million).

• Generated for the third quarter of 2022 working earnings of $18.2 million (Q3 2021: $27.1 million), web earnings of $16.6 million (Q3 2021: $17.4 million) and restricted companions’ curiosity in web earnings of $12.7 million (Q3 2021: $13.5 million).

• Reported fairness in earnings of joint ventures for the third quarter of 2022 of $2.5 million (Q3 2021: $6.1 million) which incorporates two 50% owned FSRUs, the Neptune and the Cape Ann. Through the third quarter of 2022, the Neptune accomplished a category renewal which impacted the fairness in earnings attributable to sure bills incurred which weren’t reimbursed by the charterer and because of the yard keep exceeding the contractual allowance which resulted in decreased constitution rent for the off-hire interval.

• On September 23, 2022 (the “Efficient Time”), Höegh LNG Holdings Ltd. (“Höegh LNG”) accomplished its acquisition of the Partnership’s publicly held widespread models pursuant to the Settlement and Plan of Merger dated as of Could 25, 2022 (the “Merger Settlement”). Beneath the Merger Settlement Höegh LNG acquired, for money, the entire excellent publicly held widespread models of the Partnership, at a worth of $9.25 per widespread unit for a complete buy worth of roughly $167.6 million. Pursuant to the Merger Settlement, the Partnership’s incentive distribution rights had been cancelled.

• Following the Efficient Time, Höegh LNG owns 100% of the widespread models within the Partnership, and the widespread models have been delisted from the New York Inventory Trade (“NYSE”). The Partnership’s Collection A cumulative redeemable most well-liked models (“Collection A most well-liked models”) stay excellent.

• On November 15, 2022, paid a money distribution of $0.546875 per 8.75% Collection A most well-liked unit, for the interval commencing on August 16, 2022 to November 14, 2022.

Monetary Outcomes Overview

The Partnership has mitigated the chance of an outbreak of COVID‑19 on board its vessels by extending time between crew rotations on the vessels and creating mitigating actions for crew rotations. The Partnership has fulfilled its obligations below its time constitution contracts, and aside from 22 days of off-hire incurred for the deliberate upkeep and sophistication renewal for the Neptune, didn’t expertise any off-hire for its FSRUs for the three months ended September 30, 2022.

Whole time constitution revenues for the three months ended September 30, 2022 had been $36.9 million (Q3 2021: $35.6 million). The rise in whole time constitution revenues is especially attributable to elevated time constitution income for the Höegh Gallant commencing new constitution below the contract with subsidiaries of New Fortress Vitality Inc (“NFE”) in late 2021 partially offset by a lower in time constitution revenues for the PGN FSRU Lampung and the Höegh Grace.

Whole working bills for the three months ended September 30, 2022 had been $21.2 million (Q3 2021: $14.5 million). The rise is principally attributable to increased vessel working bills and administrative bills for the three months ended September 30, 2022, in contrast with the three months ended September 30, 2021. The rise in vessel working bills is especially associated to increased working prices for the Höegh Gallant incurred within the three months ended September 30, 2022. The rise in administrative bills is especially associated to exterior monetary advisory charges, insurance coverage premiums and authorized charges incurred in relation to the Merger Settlement with Höegh LNG and authorized charges incurred in relation to the dispute with the charterer of the PGN FSRU Lampung.

Fairness in earnings of joint ventures for the three months ended September 30, 2022 was $2.5 million (Q3 2021: $6.1 million). The joint ventures personal the Neptune and the Cape Ann. Unrealized good points on by-product devices within the Partnership’s joint ventures impacted the fairness in earnings of joint ventures for the three months ended September 30, 2021. The joint ventures have beforehand not utilized hedge accounting for rate of interest swaps, and all adjustments in truthful worth have been included in fairness in earnings (losses) of joint ventures. After the refinancing of the Neptune debt facility on November 30, 2021, hedge accounting is utilized for the Neptune. After the refinancing of the Cape Ann debt facility on June 1, 2022, hedge accounting can also be utilized for the Cape Ann.

Excluding the unrealized good points on by-product devices for the three months ended September 30, 2022 and 2021, the fairness in earnings of joint ventures for the three months ended September 30, 2022 would have been $2.5 million (Q3 2021: $3.8 million). Excluding the unrealized good points on by-product devices for the three months ended September 30, 2022 and 2021, the lower was primarily attributable to sure non-reimbursable working bills incurred in reference to the deliberate upkeep and sophistication renewal of the Neptune for the three months ended September 30, 2022, and decreased time constitution revenues attributable to 22 days of off-hire incurred for the deliberate upkeep and sophistication renewal for the Neptune. The lower was partly offset by decrease monetary bills throughout 2022 attributable to refinancing of the 2 joint ventures’ debt amenities within the fourth quarter of 2021 and second quarter of 2022.

The Partnership’s share of its joint ventures’ working earnings for the three months ended September 30, 2022 was $4.2 million (Q3 2021: $6.4 million).

Phase EBITDA¹ for the three months ended September 30, 2022 was $27.5 million (Q3 2021: $35.1 million).

Working earnings for the three months ended September 30, 2022 was $18.2 million (Q3 2021: $27.1 million).

Excluding the affect of the unrealized good points on derivatives impacting the fairness in earnings of joint ventures, working earnings for the three months ended September 30, 2022 would have been $18.2 million (Q3 2021: $24.9 million). The lower is primarily attributable to increased working bills, administrative bills and decrease fairness in earnings of joint ventures primarily because of the deliberate upkeep and sophistication renewal for the Neptune partially offset by increased time constitution revenues.

Whole monetary expense, web for the three months ended September 30, 2022 was $5.8 million, (Q3 2021: $7.0 million).

Curiosity expense consists of the curiosity incurred, amortization and achieve (loss) on money circulation hedges, dedication charges and amortization of debt issuance prices for the interval. The lower of $0.6 million in curiosity expense within the third quarter of 2022 in comparison with the third quarter of 2021 was principally attributable to incurred dedication charges and better financial institution charges within the third quarter of 2021 associated to refinancing actions on the PGN FSRU Lampung debt facility (the “Lampung facility”).

The Partnership reported web earnings is $16.6 million for the three months ended September 30, 2022 (Q3 2021: $17.4 million).

Web earnings was impacted by unrealized good points on by-product devices for the third quarter of 2021, primarily included within the Partnership’s share of fairness in earnings of joint ventures.

Excluding the entire unrealized good points on by-product devices, web earnings for the three months ended September 30, 2022 would have been $16.7 million (Q3 2021: $15.1 million). Excluding the affect of the unrealized good points on derivatives, the rise is primarily attributable to a lower in unsure tax liabilities and refund of further taxes paid and expensed in 2021 in reference to a tax audit for the PGN FSRU Lampung for the tax yr 2019. The Partnership has disputed the results of the tax audit, and in the course of the third quarter of 2022, the Central Jakarta regional tax workplace modified its place, leading to a refund of a few of the further taxes paid for 2019, and a reassessment by the Partnership of the unsure tax legal responsibility.

Most popular unitholders’ curiosity in web earnings for the three months ended September 30, 2022 and 2021 was $3.9 million. Restricted companions’ curiosity in web earnings for the three months ended September 30, 2022 was $12.7 million (Q3 2021: $13.4 million).

Excluding the entire unrealized good points on by-product devices, restricted companions’ curiosity in web earnings for the three months ended September 30, 2022 would have been $12.9 million (Q3 2021: $11.1 million).

Phase Data

The Partnership has two working segments. The section revenue measure is Phase EBITDA, which is outlined as earnings earlier than curiosity, taxes, depreciation, amortization, impairment, and different monetary gadgets (achieve (loss) on debt extinguishment, achieve (loss) on by-product devices and different gadgets, web). The 2 segments are “Majority held FSRUs” and “Three way partnership FSRUs.” As well as, unallocated company prices, curiosity earnings from advances to joint ventures, and curiosity expense associated to the excellent balances on the $85 million revolving credit score facility and the $385 million facility are included in “Different”. For extra data on the segments, together with a reconciliation of Phase EBITDA to working earnings and web earnings for every section, seek advice from the outline and the tables included in “Unaudited Phase Data for the Quarters Ended September 30, 2022 and 2021″ beneath.

Phase EBITDA for Majority held FSRUs for the three months ended September 30, 2022 was $26.9 million (Q3 2021: $28.3 million). The lower is especially attributable to elevated vessel working bills and administrative bills partly offset by elevated income from time charters.

Phase EBITDA for the Three way partnership FSRUs for the three months ended September 30, 2022 was $6.6 million (Q3 2021: $8.9 million). The lower is especially attributable to elevated vessel working bills and decreased time constitution revenues attributable to 22 days of off-hire because of the class renewal on the Neptune that was accomplished in the course of the third quarter of 2022.

Different, Phase EBITDA consists of administrative bills. Administrative bills for the three months ended September 30, 2022 had been $6.0 million (Q3 2021: $2.1 million).

Financing and Liquidity

As of September 30, 2022, the Partnership had money and money equivalents of $45.3 million. Present restricted money for working obligations of the PGN FSRU Lampung was $9.3 million, and long-term restricted money required below the long-term debt facility for the Lampung facility was $11.0 million as of September 30, 2022. As of November 17, 2022, the Partnership has totally drawn on the $63 million revolving credit score tranche of the $385 million facility and has an undrawn stability of $60.5 million on the $85 million revolving credit score facility from Höegh LNG. As of September 30, 2022, the excellent stability of $24.5 million on the $85 million revolving credit score facility from Höegh LNG is assessed as a present legal responsibility. Additional drawdowns on the $85 million revolving credit score facility could also be topic to Höegh LNG’s consent due to the discover of arbitration obtained from the charterer of the PGN FSRU Lampung, as described beneath.

As of September 30, 2022, the Partnership has no materials commitments for capital expenditures.

Through the third quarter of 2022, the Partnership made quarterly repayments of $5.4 million on the Lampung facility and $6.4 million on the $385 million facility. The reimbursement $5.4 million on the Lampung facility contains strange installments of $4.5 million and extra installments of $0.9 million because of the money sweep mechanism within the Lampung facility. Till the pending arbitration with the charterer of PGN FSRU Lampung has been terminated, cancelled or favorably resolved, no shareholder loans could also be serviced and no dividends could also be paid to the Partnership by the subsidiary borrowing below the Lampung facility, PT Hoegh LNG Lampung (“PT HLNG”). Moreover, every quarter, 50% of the PGN FSRU Lampung’s generated money circulation after debt service have to be utilized to pre-pay excellent mortgage quantities below the Lampung facility, utilized professional rata throughout the industrial and export credit score tranches. The remaining 50% might be retained by PT HLNG and pledged in favour of the lenders till the pending arbitration with the charterer of the PGN FSRU Lampung has been terminated, cancelled or favorably resolved. As a consequence, no money circulation from the PGN FSRU Lampung might be out there for the Partnership till the pending arbitration has been terminated, cancelled or favorably resolved. This limitation doesn’t prohibit the Partnership from paying distributions to most well-liked and customary unitholders.

The Partnership’s guide worth and excellent principal of whole long-term debt had been $349.6 million and $353.9 million respectively, as of September 30, 2022, together with the Lampung facility, the $385 million facility and the $85 million revolving credit score facility.

As of September 30, 2022, the Partnership’s whole present liabilities exceeded whole present property by $11.0 million. That is partly a consequence of the present portion of long-term debt of $43.7 million being labeled as present whereas restricted money of $11.0 million related to the Lampung facility is assessed as long-term. The present portion of long-term debt displays principal funds for the following twelve months. Moreover, as a result of the $85 million revolving credit score facility from Höegh LNG matures on January 1, 2023, the excellent stability thereunder of $24.5 million is assessed as a present legal responsibility.

The present liabilities are anticipated to be funded, for essentially the most half, by future money flows from operations. The Partnership doesn’t intend to keep up a money stability to fund the following twelve months’ web liabilities. The Partnership believes its money flows from operations, together with distributions to it from Höegh LNG Cyprus Restricted, and Höegh LNG FSRU IV Ltd as cost of intercompany curiosity and/or intercompany debt or dividends and funds below the Suspension and Make-Complete Agreements (as outlined beneath), might be enough to satisfy its debt amortization and dealing capital wants and keep money reserves towards fluctuations in working money flows and pay distributions to its unitholders at its present stage of distributions, for the following twelve months assuming persevering with compliance with covenants below its credit score amenities and assuming that the Partnership’s vessels stay totally operational and that revenues are generated as per current contractual phrases.

As of September 30, 2022, the Partnership had excellent rate of interest swap agreements for a complete notional quantity of $247.5 million to hedge towards the floating rate of interest dangers of its long-term debt below the Lampung facility and the $385 million facility. The Partnership applies hedge accounting for by-product devices associated to those amenities. The Partnership receives curiosity primarily based on three-month US greenback LIBOR and pays a set charge of two.8% for the Lampung facility. The Partnership receives curiosity primarily based on the three-month US greenback LIBOR and pays a set charge starting from 2.650% to 2.941% for the $385 million facility.

The Partnership’s share of the joint ventures is accounted for utilizing the fairness technique. Because of this, the Partnership’s share of the joint ventures’ money, restricted money, excellent debt, rate of interest swaps and different stability sheet gadgets are mirrored web on the traces “collected earnings in joint ventures” and “collected losses in joint ventures” on the consolidated stability sheet and aren’t included within the stability sheet figures disclosed beneath.

In August 2022, the Partnership paid a money distribution of $0.3 million, or $0.01 per widespread unit, with respect to the second quarter of 2022.

In August 2022, the Partnership paid a money distribution of $3.9 million, or $0.546875 per Collection A most well-liked unit, for the interval commencing on Could 16, 2022 to August 14, 2022.

On November 15, 2022, the Partnership paid a money distribution of $3.9 million, or $0.546875 per Collection A most well-liked unit, for the interval commencing on August 15, 2022 to November 14, 2022.

Outlook

The Partnership believes its major danger and publicity associated to uncertainty of money flows from its long-term time constitution contracts is because of the credit score danger and counterparty danger related to the person charterers. Funds are due below time constitution contracts whatever the demand for the charterer’s gasoline output or the utilization of the FSRU. It’s due to this fact attainable that charterers might not make funds for time constitution companies in instances of decreased demand. Whereas there’s a pending arbitration as additional mentioned beneath, as of November 17, 2022, the Partnership has not skilled any decreased or non-payments for obligations below the Partnership’s time constitution contracts. As well as, the Partnership has not supplied concessions or made adjustments to the phrases of cost for its prospects.

Höegh LNG has entered into the Suspension and Make-Complete Agreements and supplied the Partnership the $85 million revolving credit score facility. Nonetheless, in July 2021, the Partnership obtained discover from Höegh LNG that the revolving credit score line of $85 million won’t be prolonged when it matures on January 1, 2023, and that Höegh LNG can have very restricted capability to increase any further advances to the Partnership past what’s at the moment drawn below such facility. Additionally, additional drawdowns on the $85 million revolving credit score facility could also be topic to Höegh LNG’s consent due to the NOA (as outlined beneath) obtained from the charterer of PGN FSRU Lampung. With these adjustments, the Partnership’s liquidity and monetary flexibility has been decreased. If Höegh LNG is unable to satisfy its obligations to us below the Suspension and Make-Complete Agreements or meet funding requests or indemnification obligations, our monetary situation, outcomes of operations and skill to make money distributions to unitholders could possibly be materially adversely affected.

Höegh LNG’s potential to make funds to the Partnership below the Suspension and Make-Complete Agreements and any funding requests below the $85 million revolving credit score facility and any claims for indemnification could also be affected by occasions past the management of Höegh LNG or the Partnership, together with prevailing financial, monetary and business circumstances. If market or different financial circumstances deteriorate, Höegh LNG’s potential to satisfy its obligations to the Partnership could also be impaired.

If monetary establishments offering the Partnership’s rate of interest swaps are unable to satisfy their obligations, the Partnership might expertise the next curiosity expense or be unable to acquire funding. Moreover, if the Partnership’s charterers or lenders are unable to satisfy their obligations below their respective contracts or if the Partnership is unable to satisfy its obligations below time charters, its monetary situation, outcomes of operations and skill to make money distributions to unitholders could possibly be materially adversely affected.

As beforehand reported, by letter dated July 13, 2021, the charterer below the lease and upkeep settlement for the PGN FSRU Lampung (“LOM”) raised sure points with PT Hoegh LNG Lampung in relation to the operations of the PGN FSRU Lampung and the LOM and by additional letter dated July 27, 2021, said that it could start arbitration towards PT Hoegh LNG Lampung. On August 2, 2021, the charterer served a discover of arbitration (“NOA”) to declare the LOM null and void, and/or to terminate the LOM, and/or search damages. On June 13, 2022, the charterer filed an announcement of declare with a request for a major aid and three different reliefs. The charterer’s declare of restitution if the LOM is said null and void is $416 million, rising to $472 million by June 2023 plus curiosity and prices. In September 2022, PT Hoegh LNG Lampung filed its Assertion of Protection.

PT Hoegh LNG Lampung has beforehand served a reply refuting the claims as baseless and with out authorized benefit and has additionally served a counterclaim towards the charterer for a number of breaches of the LOM and a declare towards the father or mother firm of the charterer for the fulfilment of the charterer’s obligations below the LOM as said in a assure supplied by the father or mother firm, with a declare for damages. On June 13, 2022, PT Hoegh LNG Lampung filed its assertion of declare.

PT Hoegh LNG Lampung will take all obligatory steps and can vigorously contest the charterer’s claims within the authorized course of.

No assurance may be given at the moment as to the result of the dispute with the charterer of the PGN FSRU Lampung. However the NOA, each events have continued to carry out their respective obligations below the LOM. Within the occasion that the result of such dispute is unfavorable to the Partnership, it might have a cloth hostile affect on its enterprise, outcomes of operations, monetary situation and skill to pay distributions to unitholders.

On March 20, 2022, the Partnership commenced FSRU operations below agreements with subsidiaries of New Fortress Vitality Inc. (“New Fortress”) to constitution the Höegh Gallant for a interval of ten years (the “NFE Constitution”). The constitution charge below the NFE Constitution is decrease than below the prior constitution for the Höegh Gallant (the “Suspended Gallant Constitution”). The Partnership has entered into an settlement to droop the Suspended Gallant Constitution, with impact from the graduation of the NFE Constitution, and a make-whole settlement (collectively, the “Suspension and Make-Complete Agreements”), pursuant to which Höegh LNG’s subsidiary will compensate the Partnership month-to-month for the distinction between the constitution charge earned below the NFE Constitution and the constitution charge earned below the Suspended Gallant Constitution with the addition of a modest improve till July 31, 2025, the unique expiration date of the Suspended Gallant Constitution. Afterwards, the Partnership will proceed to obtain the constitution charge agreed with New Fortress for the remaining time period of the NFE Constitution. As well as, pursuant to the Suspension and Make-Complete Agreements, sure capital expenditures incurred to prepared and relocate the Höegh Gallant for efficiency below the NFE Constitution might be shared 50/50 between Höegh LNG and the Partnership, topic to a most obligation of the Partnership. As of November 17, 2022, Höegh LNG has paid an combination of $2.6 million to the Partnership pursuant to the Suspension and Make-Complete Agreements associated to such capital expenditures.

The outbreak of COVID‑19 has negatively affected financial circumstances in lots of components of the world which can affect the Partnership’s operations and the operations of its prospects and suppliers. Though the Partnership’s operations haven’t been materially affected by the COVID-19 outbreak to this point, the last word size and severity of the COVID‑19 outbreak and its potential affect on the Partnership’s operations and monetary situation is unsure at the moment. Moreover, ought to there be an outbreak of COVID‑19 on board one of many Partnership’s FSRUs or an incapability to switch crucial provides or substitute components attributable to disruptions to third-party suppliers, enough crewing or provides is probably not out there to satisfy the Partnership’s obligations below its time constitution contracts. This might lead to off-hire or guarantee funds below efficiency ensures which would cut back revenues for the impacted interval. Up to now, the Partnership has prolonged the time between crew rotations on the vessels and developed different mitigating actions to scale back the chance of a COVID-19 outbreak. Because of this, the Partnership expects that it’s going to incur considerably increased crewing bills. Up to now, the Partnership has not had materials service interruptions on the Partnership’s vessels. Administration and administrative staffs have largely transitioned to working remotely from dwelling to deal with the particular COVID‑19 state of affairs within the relevant geographic location. The Partnership has supported staffs by supplying wanted web boosters and workplace tools to facilitate an efficient work surroundings.

In February 2022, the Russian assault on Ukraine began. It could result in additional regional and worldwide conflicts or armed motion. It’s attainable that such battle might disrupt provide chains and trigger instability within the international economic system. Moreover, the continued battle might consequence within the imposition of additional financial sanctions by the US and the European Union towards Russia. Whereas a lot uncertainty stays relating to the worldwide affect of the invasion, it’s attainable that such tensions might adversely have an effect on the Partnership’s enterprise, monetary situation, outcomes of operation and money flows. Moreover, it’s attainable that third events with whom the Partnership has constitution contracts could also be impacted by occasions in Russia and Ukraine, which might adversely have an effect on its operations. The invasion has amongst different issues, led to a considerably elevated consideration to safety of vitality provide in Europe. A number of European international locations need to scale back their reliance on pipeline gasoline from Russia, and are planning to extend the import capability for LNG by the applying of FSRUs and/or landbased import amenities together with elevated use of renewable vitality sources within the vitality combine. Over time, this might speed up the vitality transition to renewable vitality.

On April 1, 2022, the Partnership’s Colombian subsidiary obtained a notification from the Tax Administration of Cartagena assessing a penalty of roughly $1.8 million for failure to file the 2016 to 2018 Municipal Business and Commerce Tax (“ICT”) returns. ICT is imposed on gross receipts on buyer invoices and is just like a gross sales tax. The municipal tax authorities have alleged that the shopper invoices are for industrial actions carried out throughout the municipal jurisdiction. Nonetheless, the entire Colombian subsidiary’s actions happen offshore which is outdoors of the Municipality’s borders. In keeping with Colombian regulation, municipalities would not have jurisdiction over maritime waters or low-tide areas. Administration intends to disclaim the allegations and file an enchantment to vigorously defend the Colombian subsidiary’s place. Accruals for loss contingencies are recorded when it’s possible {that a} legal responsibility has been incurred and the quantity of loss may be fairly estimated. Administration, with recommendation of its outdoors authorized advisors, has assessed the standing of this matter and has concluded that an hostile judgment after concluding an appeals course of isn’t possible. Because of this, no provision has been made within the consolidated monetary statements. Administration estimates the vary of attainable loss for 2016-2021, together with accrued curiosity, to be roughly $1.3 million to $2.9 million as of September 30, 2022, plus further accrued curiosity thereon till last disposition of the ICT allegation. In Could 2022, the Partnership and its Colombian subsidiary filed a response to the Tax Administration of Cartagena disputing the declare. This was confirmed registered on Could 27, 2022, by the Tax Administration of Cartagena.

FORWARD-LOOKING STATEMENTS

This press launch comprises sure forward-looking statements regarding future occasions and the Partnership’s operations, efficiency and monetary situation. Ahead-looking statements embody, with out limitation, any assertion that will predict, forecast, point out or suggest future outcomes, efficiency or achievements, and will comprise the phrases “imagine,” “anticipate,” “anticipate,” “estimate,” “future,” “mission,” “might be,” “will proceed,” “will possible consequence,” “plan,” “intend” or phrases or phrases of comparable meanings. These statements contain identified and unknown dangers and are primarily based upon quite a few assumptions and estimates which are inherently topic to vital uncertainties and contingencies, a lot of that are past the Partnership’s management. Precise outcomes might differ materially from these expressed or implied by such forward-looking statements. Vital components that might trigger precise outcomes to vary materially embody, however aren’t restricted to:

• the consequences of outbreaks of pandemic or contagious ailments, together with the size and severity of the current worldwide outbreak of COVID‑19, together with its affect on the Partnership’s enterprise liquidity, money flows and operations in addition to operations of our prospects, suppliers and lenders;

• market circumstances and tendencies for floating storage and regasification models (“FSRUs”) and liquefied pure gasoline (“LNG”) carriers, together with rent charges, vessel valuations, technological developments, market preferences and components affecting provide and demand of LNG, LNG carriers, and FSRUs;

• the Partnership’s distribution coverage and skill to make money distributions on its most well-liked models;

• restrictions within the Partnership’s debt agreements and pursuant to native legal guidelines on the Partnership’s joint ventures’ and subsidiaries’ potential to make distributions;

• the flexibility of Höegh LNG to satisfy its monetary obligations to the Partnership pursuant to the Suspension and Make-Complete Agreements, the Suspended Gallant Constitution, any funding requests below the $85 million revolving credit score facility and its assure and indemnification obligations;

• the Partnership’s potential to compete efficiently for future chartering alternatives;

• demand within the FSRU sector or the LNG delivery sector, together with demand for the Partnership’s vessels;

• the Partnership’s anticipated receipt of dividends and reimbursement of indebtedness from subsidiaries and joint ventures;

• results of volatility in international costs for crude oil and pure gasoline;

• the impact of the worldwide financial surroundings;

• turmoil within the international monetary markets;

• fluctuations in currencies and rates of interest;

• basic market circumstances, together with fluctuations in rent charges and vessel values;

• adjustments within the Partnership’s working bills, together with drydocking, on-water class surveys, insurance coverage prices and bunker prices;

• the Partnership’s potential to adjust to financing agreements and the anticipated impact of restrictions and covenants in such agreements;

• the monetary situation, liquidity and creditworthiness of the Partnership’s current or future prospects and their potential to fulfill their obligations below the Partnership’s contracts;

• the Partnership’s potential to switch current borrowings, make further borrowings and to entry public fairness and debt capital markets;

• deliberate capital expenditures and availability of capital assets to fund capital expenditures;

• the train of buy choices by the Partnership’s prospects;

• the Partnership’s potential to carry out below its contracts and keep long-term relationships with its prospects;

• the Partnership’s potential to leverage Höegh LNG’s relationships and repute within the delivery business;

• the Partnership’s continued potential to enter into long-term, fixed-rate charters and the rent charge thereof;

• the working efficiency of the Partnership’s vessels and any associated claims by TotalEnergies SE, PGN LNG or different prospects;

• the Partnership’s potential to maximise using its vessels, together with the redeployment or disposition of vessels now not below long-term charters;

• the outcomes of the arbitration with the charterer of PGN FSRU Lampung;

• well timed acceptance of the Partnership’s vessels by their charterers;

• termination dates and extensions of charters;

• the affect of the Russian invasion of Ukraine;

• the Partnership’s potential to efficiently remediate the fabric weak spot in its inner management over monetary reporting and disclosure controls and procedures;

• the price of, and the Partnership’s potential to adjust to, governmental rules and maritime self-regulatory group requirements, in addition to normal rules imposed by its charterers relevant to its enterprise;

• financial substance legal guidelines and rules adopted or thought-about by varied jurisdictions of formation or incorporation of the Partnership and sure of its subsidiaries;

• availability and value of expert labor, vessel crews and administration, together with attainable disruptions, together with however not restricted to the provision chain of spare components and repair engineers, brought on by the COVID‑19 outbreak;

• the variety of offhire days and drydocking necessities, together with the Partnership’s potential to finish scheduled drydocking on time and inside price range;

• the Partnership’s basic and administrative bills as a publicly traded restricted partnership and costs and bills payable below the Partnership’s ship administration agreements, the technical data and companies settlement and the executive companies settlement;

• the anticipated taxation of the Partnership, its subsidiaries and associates and distributions to unitholders;

• estimated future upkeep and substitute capital expenditures;

• the Partnership’s potential to rent or retain key staff;

• prospects’ rising emphasis on environmental and security considerations;

• potential legal responsibility from any pending or future litigation;

• dangers inherent within the operation of the Partnership’s vessels together with potential disruption attributable to accidents, political occasions, piracy or acts by terrorists;

• future gross sales of the Partnership’s securities within the public market;

• interruption or failure of the Partnership’s data expertise and communication programs;

• the Partnership’s enterprise technique and different plans and aims for future operations; and

• different components listed once in a while within the stories and different paperwork that the Partnership recordsdata with the SEC, together with the Partnership’s Annual Report on Type 20‑F for the yr ended December 31, 2021 and subsequent quarterly stories on Type 6‑Ok.

All forward-looking statements included on this press launch are made solely as of the date of this launch. New components emerge once in a while, and it’s not attainable for the Partnership to foretell all of those components. Additional, the Partnership can not assess the affect of every such issue on its enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to be materially totally different from these contained in any forward-looking assertion. The Partnership doesn’t intend to launch publicly any updates or revisions to any forward-looking statements contained herein to mirror any change in its expectations with respect thereto or any change in occasions, circumstances or circumstances on which any such assertion relies.