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27 October 2022 CEO of Höegh Autoliners, Andreas Enger, says: "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" 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 the net rate increased 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 a good cargo mix and continuous repricing in several markets. During the third quarter of 2022, the Company received a Gold Medal rating from 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 the 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 drastically 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. The results was presented by CEO Andreas Enger and CFO Per Oivind Rosmo. Link to the webcast: https://players.brightcove.net/2866239767001/experience_6346c57840bd3f0024f58178/share.html Please find the Q3 report here: https://www.hoeghautoliners.com/investors/reports-and-presentations 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. Höegh Autoliners press release 
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