Höegh LNG Partners LP Reports Restated Q2 2015 Results; Restates 2013, 2014 Year-End Results

Höegh LNG Partners LP HMLP (the "Partnership") announced that it has restated its financial statements for the years ended December 31, 2014 and 2013 and its previously announced results for the quarter ended June 30, 2015. Today, the Partnership has filed a Form 20-F/A for the fiscal year ended December 31, 2014 (the "Form 20-F/A") and furnished a Form 6-K for the quarter ended June 30, 2015 (the "Form 6-K") with the U.S. Securities and Exchange Commission (the "SEC"), reporting its restated historical results for the periods set forth therein. The Partnership has not amended its reports on Form 6-K for the quarters ended September 30, 2014 and March 31, 2015. As a result, investors should not rely on these filings but should instead rely only on the restated consolidated and combined carve-out financial statements contained in the Form 20-F/A and Form 6-K for the quarter ended June 30, 2015. The restatement adjusts the Partnership's financial statements for: certain Indonesian value added taxes ("VAT") and withholding taxes ("WHT") that were not recorded correctly; recognition of related revenue for reimbursable tax amounts; and related adjustments to the Partnership's direct financing lease and amortization of deferred debt issuance costs. The Partnership is indemnified by Höegh LNG Holdings Ltd. ("HLNG") for certain non-budgeted, non-creditable Indonesian VAT and non-budgeted Indonesian WHT, including any related impact on cash flow, for the periods and as further described in the Form 20-F/A. The Partnership filed a claim for, and received payment from HLNG with respect to, such indemnification for approximately $1.2 million in the fourth quarter of 2015. The indemnification payment received from HLNG will be recorded as a contribution to equity in the fourth quarter of 2015. The change to the accounting for the Indonesian WHT and VAT is not expected to materially affect the Partnership's cash flows, liquidity or distributable cash flow on a prospective basis. As a result of the closing of the acquisition of the entity that owns the FSRU Höegh Gallant, management of the Partnership reaffirms its previously announced intention to recommend to the Board of Directors of the Partnership that it consider an increase to $0.4125 per unit in the Partnership's quarterly cash distribution effective for the distribution with respect to the quarter ending December 31, 2015. Any increased distribution would be conditional upon, among other things, the approval by the Board and the absence of any material adverse developments that would make such an increase inadvisable. Please read the Form 20-F/A and the Form 6-K for a complete description of the Partnership's restated financial results.