Höegh Autoliners ASA - Change in Management

24 Oct 2024 08:30 CEST

Per Øivind Rosmo will step out of the Chief Financial Officer role on 1 January
2025 to take up a dual senior executive role as Executive Chair of Höegh
Autoliners activities in Manila and as Chief Controlling Officer. Our Manila
office is by far the largest of our offices and is a key contributor to our
operational performance and efficiency. It plays a key role in Finance,
Accounting, Legal, IT, HR and Customer Service in addition to being our center
for Crewing, Technical Management, Fleet Operations and Newbuilds. With such
importance in our global operating model, we have decided to strengthen the
corporate leadership and support to ensure optimal development of the next
generation of leaders in Manila.

On the same date, Espen Stubberud will become Chief Financial Officer. Espen
holds a Master´s degree from the Norwegian School of Economics and Business
Administration (NHH) and did earlier this year complete the Advanced Management
Program at INSEAD in Singapore. He joined Höegh Autoliners as a Maritime Trainee
in 2007 and comes from the role as Chief Trade & Capacity Officer where he has
led our capacity allocation, repricing, and more recently divestments of some
older vessels. In August, he was replaced by John Syvertsen in this role to work
with the CEO on capacity strategy. Espen will bring valuable insight into the
CFO role at a time when active asset management will be a more important value
lever for the company. After almost 2 decades of holding key management roles in
Norway, the US and Greater China, Espen will in his new role benefit from deep
knowledge of our global organization and key business value levers.

Per Øivind has made exceptional contributions to Höegh Autoliners during his 36
years with the company. Since taking up the CFO role in September 2020, he has
guided the company through the financial turmoil caused by the Pandemic, led the
successful IPO in 2021, fundamentally upgraded our Financial and ESG reporting
and has established and refined the most resilient capital structure in the
history of the company with no major debt maturities before 2030. We are pleased
that Per Øivind have accepted the role to oversee further development of
performance and leadership in our Manila office and continue to contribute to
our strong real-time financial control.

These changes are made to strengthen the leadership of our global business model
and broaden the experience of younger executives to create a stronger succession
pipeline. We are pleased to be able to do this in a carefully planned process
combining internal promotions with retaining experience and strengthening the
oversight of our unique Manila office.

For further information, please contact:
Andreas Enger, CEO
andreas.enger@hoegh.com
+47 901 31 228

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

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