Oslo, 24 April 2024: Höegh Autoliners ("Höegh Autoliners" or the "Company",
ticker code: HAUTO) reported record financial performance for the first quarter
of 2024. The gross revenue was USD 328 million/NOK 3,449 million, operating
profit (EBITDA) was USD 162 million/NOK 1,707 million, and net profit after tax
was USD 115 million/NOK 1,210 million.

Highlights of the quarter 

o	Operating profit (EBITDA) of USD 162 million and net profit after tax of USD
115 million.  

o	Gross freight rate increased by 3% compared to Q4 2023 to USD 98.3 per cbm.  

o	Höegh Chiba sold for USD 61 million. The vessel will be delivered to new
owners by August. 

o	Purchase option declared for Höegh Jeddah. Transaction will be completed in
September. 

o	New and long-term financing secured at attractive terms into 2030. 

o	Q4 2023 dividend of USD 360 million paid in March 2024.  

o	A dividend of USD 109 million declared and will be paid out in May 2024.

Andreas Enger, CEO of Höegh Autoliners, comments: "Höegh Autoliners delivered a
solid result for the first quarter of 2024. While market remained tight and
rates stayed at record level, the rerouting of vessels following the tension in
Red Sea adversely impacted capacity and volumes transported, resulting in lower
operating income for the quarter. On the other hand, the Company continued to
build resilience through cycles and has secured long-term financing at
attractive terms for the most modern part of the fleet and four Aurora-class
newbuilds into 2030. I am pleased to announce that we will continue to pay
dividend this quarter and USD 109 million is declared and will be paid in May. I
would like to extend my heartfelt gratitude to all our employees, partners and
customers for their support and contribution in sailing our company forward."


Outlook 
The decision not to sail through the Red Sea led to a significant drop in
volumes in Q1 due to rescheduling and recalibration of the Trade Systems. This
has now stabilised, and we expect more stable and higher volumes going forward.
The estimated annual loss of volume if the situation persist is around
800,000-900,000 cbm due to longer voyages leading to reduced capacity. 

The general market is still tight, and our priority is to serve strategically
important customers in our main trades. The combination of a higher share of
cargo transported under repriced contracts and a healthy spot market is expected
to continue through Q2. 

The recent escalation of the tension in the Middle East has so far not impacted
our business or our availability to serve our customers but this and the general
geopolitical and macro situation is something we closely monitor.


Please find attached the Q1 2024 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 watch the webcast:
https://investors.hoeghautoliners.com/investors/reports-and-other-resources/webc
asts-and-videos/default.aspx

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

My Linh Vu, Head of Finance, Treasury and IR
my.linh.vu@hoegh.com
ir@hoegh.com
+47 486 48 086

Media contact:
Camilla Knappskog, Head of Communications
camilla.knappskog@hoegh.com
+47 926 66 156

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 390 people in its 16 offices worldwide and
around 1 170 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.