Höegh Autoliners ASA – Exercise of option to purchase Höegh Trapper

23 Nov 2022 08:46 CET

Oslo, 23 November 2022: Höegh Autoliners ASA ("Höegh Autoliners" or the
"Company", ticker code: "HAUTO) through its subsidiary Höegh Autoliners Shipping
AS, has declared an option pursuant to a certain bareboat charter party to
purchase the vessel Höegh Trapper (IMO 9706918) for a purchase price of USD
53,200,000 from Ocean Yield. The average market value of the vessel estimated by
three different brokers was USD 96 million by the end of Q3 and the Company is
working on financing the purchase of the vessel.

Höegh Trapper was built in 2016 with a capacity of 8,500 CEU. The vessel is a
sister vessel to Höegh Tracer, which the Company declared a purchase option for
in August 2022. The vessel is one of the largest and most environmentally
friendly PCTCs in the world and will continue to be a part of Höegh Autoliners’
deep-sea network upon transfer of the ownership. The transaction will enable the
realisation of additional value gains from the lease options, as well as reduce
the cash cost and allow for better capacity cost control in an overheated
charter market.

Per Øivind Rosmo, CFO of Höegh Autoliners, comments: “Höegh Trapper is the
fourth bareboat chartered vessel where we declare a purchase option in 2022. By
taking direct ownership of the vessel, we demonstrate our commitment to serve
and build a long-term relationship with our customers based on a fleet we own
and control. Bringing home Höegh Trapper means that we will have ownership of
all 6 Horizon class vessels built at Xiamen Shipbuilding Industry in 2015 and
2016. These vessels are among the largest and most fuel efficient PCTCs sailing
the oceans and are together with the Aurora class vessels under construction an
important part of our ambition to continue to reduce our carbon intensity and
the journey towards being carbon neutral by 2040”

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

Important notice:

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.

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.

More information:
Access the news on Oslo Bors NewsWeb site

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