Highlights of the quarter 

Höegh Autoliners ASA ("Höegh Autoliners" or the "Company", ticker code: "HAUTO)
reported solid financial results for the third quarter: Operating profit
(EBITDA) of USD 114 million (up 15% Q-o-Q), net profit after tax of USD 92
million (up 73% Q-o-Q).

Volumes decreased 0.2 million CBM (down 4% Q-o-Q) while net rate increasing to a
new high level of $62.5 per CBM (up 1% Q-o-Q). The slight decrease in volumes
was mainly due to capped capacity following the sale of two non-core vessels,
while net rate improvement was a result of good cargo mix and continuous
repricing in several markets.

During the third quarter of 2022, the Company received Gold Medal rating by
EcoVadis - the world's largest provider of business sustainability ratings.
Höegh Autoliners simultaneously joined the First Movers Coalition, committed to
running at least 5 % of our deep-sea operations on either green ammonia or green
methanol by 2030.

The sale of two non-core vessels Höegh Maputo and Höegh Singapore concluded
during third quarter, resulting in a profit-sharing gain of USD 21 million. The
Company also took decisive action to limit the exposure to the expensive
charterhire market by exercising the purchase option for Höegh Tracer at a price
well below the current market values.

"This was yet another very strong quarter for Höegh Autoliners, delivering good
results and positioning us well in the sector. The period was spiked by port
congestions, trade route disruptions and cargo capacity shortages in the market,
which our team handled professionally, with solid performance. "Höegh Autoliners
proudly joined the First Movers Coalition (FMC) this quarter. FMC was initiated
by World Economic Forum and the US Special Presidential Envoy for Climate John
Kerry to accelerate demand for zero-carbon technology. Our commitments through
the coalition are another important part of our sustainability strategy to
become carbon-neutral by 2040. It underlines our strong ambitions to be a
maritime frontrunner sailing for sustainability and changing the industry to
become greener," says Höegh Autoliners CEO Andreas Enger.

The Board of Directors has approved a cash dividend of USD 20 million (USD 0.105
per share) for the third quarter of 2022, equal to roughly 30% of the net profit
after tax adjusted for extraordinary items for the period. Detailed information
about the dividend payment will follow in a separate Stock Exchange Notice.


Outlook 

The general market fundamentals remain very positive with a tight tonnage
situation and repricing of cargo in most trade lines. There is still volatility
when it comes to delays, port congestions and supply chain disruptions but this
is easing somewhat. The global situation with high inflation and fear for
recession has so far not impacted the financial performance of our business but
this is something we closely monitor. Most of the increase in bunker prices
earlier this year is from Q3 covered by BAF and will not impact the results much
going forward unless prices move drastic from current levels. The strong balance
sheet in combination with current cash generation makes the Company very
resilient for a temporary setback if an eventual recession should impact volumes
negatively. The general market for our freight continues to be strong.
Increasing freight rates in combination with lower bunker expenses are expected
to give an increase in EBITDA in Q4 compared to Q3.

Please find attached the Q3 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_6346c57840bd3f0024f58178
/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

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 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.