Höegh Autoliners ASA ("Höegh Autoliners" or the "Company", ticker code: "HAUTO)
today reported the interim results for the first quarter of 2022.

Highlights of the quarter

Höegh Autoliners had a strong first quarter despite market volatility and supply
chain disruptions. While volumes and utilisation were slightly down compared to
the previous quarter due to seasonal fluctuations, the Company experienced
further net rate increase and improved HH shares, reflecting continuously strong
underlying market. Adjusted EBITDA of USD 78 million, up 105% Y-o-Y. Net profit
of USD 36 million, significantly up from negative USD 7 million in Q1 2021.
Solid operational results further strengthened the balance sheet, with book
equity ratio of 49% supported by increase in vessel values of 19% since year end
2021.

In January 2022, the Company signed a contract with China Merchants Heavy
Industry (Jiangsu) Co., Ltd. (CMHI) to build the first four multi-fuel and zero
carbon 9 100 CEU Aurora class vessels, with option for another eight vessels
until July 2023 (as of May 2022, the option to build vessels 5 to 8 have been
declared by the Company). The Company expects delivery of two Aurora vessels
every six months starting from the second half of 2024.

Fleet optimisation continued in the first quarter 2022 through disposal of three
non-core smaller vessels and extension of charter party for two medium size
vessels. Network size is planned to remain around 39-40 vessels in 2022.

CEO of Höegh Autoliners, Andreas Enger, says: 

"I am very pleased with our first quarter results as well as the progress we
have made on our strategic objectives, not least our continuous commitment to
being the leader in zero emissions shipping. Extending our green fleet renewal
program to eight zero carbon ready Aurora class vessels this quarter, with the
possibility of ordering another eight, was a major step on our path to zero. At
Höegh Autoliners we don't just talk about sustainability and becoming green. We
continue to act on it."

Outlook

The strong market fundamentals with tight supply demand balance and increased
freight rates have continued into Q2. The sharp increase in bunker prices
towards the end of Q1 will have negative impact in Q2 as the compensation (BAF)
is delayed with 3-4 months. Geopolitical developments, in particular the
conflict in Ukraine, COVID-19 lockdown in China and supply chain issues, are
closely monitored. So far, we have not seen any financial impact on our business
but due to limited visibility, this may change.

Höegh Autoliners has a robust financial platform that will be further
strengthened following the completion of the refinancing of the existing
mortgage debt. On 2 May 2022, Höegh Autoliners' shares were uplisted to the Oslo
Stock Exchange's main list.

Based on current earnings outlook for 2022, the Company is considering
commencing dividend payments in the second half of the year.

Please find attached Q1 2022 report. The results will also be presented by CEO
Andreas Enger and CFO Per Øivind Rosmo at 08:30 CET today. The presentation will
be held in English, and a recorded version of the webcast together with the
presentation will be made available on our website soon after the webcast ends.

Link to the webcast: 
https://players.brightcove.net/2866239767001/experience_626a6b49fb3662002465cb83
/share.html

For further information, please contact
Andreas Enger, CEO 
andreas.enger@hoegh.com
+47 901 31 228 
 
Per Øivind Rosmo, CFO 
per.oivind.rosmo@hoegh.com 
+ 47 400 39 938

Investor Relations
ir@hoegh.com

About Höegh Autoliners:

Höegh Autoliners is a leading global provider of RoRo (Roll On Roll Off)
transportation services delivering cars, high and heavy and breakbulk cargoes
across the world. The Company operates around 40 RoRo vessels in global trade
systems and makes about 3 000 port calls each year. Our purpose is to develop
innovative solutions for greener and more sustainable deep sea transportation.
We are on a path to a zero emissions future and are working closely with
customers and partners to achieve this. Höegh Autoliners has its head office in
Oslo, Norway and employs around 375 people in its 16 offices worldwide and
around 1 250 seafarers.

This statement contains certain forward-looking statements concerning future
events. Forward-looking statements are statements that are not historical facts
and may be identified by words such as "anticipate", "believe", "continue",
"estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Actual events may differ
significantly from any anticipated development due to a number of factors,
including without limitation, changes in investment levels and need for the
Company's services, changes in the general economic, political and market
conditions in the markets in which the Company operates, the Company's ability
to attract, retain and motivate qualified personnel, changes in the Company's
ability to engage in commercially acceptable acquisitions and strategic
investments, and changes in laws and regulation and the potential impact of
legal proceedings and actions. Such risks, uncertainties, contingencies and
other important factors include, but are not limited to, the possibility that we
will determine not to, or be unable to, issue any equity securities, and could
cause actual events to differ materially from the expectations expressed or
implied in this release by such forward-looking statements.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.