Oslo, 17 July 2023: Höegh Autoliners ASA ("Höegh Autoliners" or the "Company", is pleased to announce that it has exercised the option to construct additional four (4) new multi-fuel and net zero carbon ready Aurora class vessels. Höegh Autoliners will have the option to convert one or more of these vessels to ammonia propulsion as soon as the technology is available. This brings the number of total vessels under the newbuilding program to twelve (12) vessels, all of which will be built by China Merchants Heavy Industry (Jiangsu) Co., Ltd (CMHI). The first of the 12 vessels are scheduled to be delivered in July 2024. The Company has an option to build another four vessels (vessels 13-16), as well as slot reservations for additional four vessels (vessels 17-20).

The Aurora-class vessels have attracted significant interest from credit providers, and the Company will finance the newbuilds by a combination of equity (cash) from own operation and debt. Höegh Autoliners is actively exploring various financing alternatives and anticipates having committed financing in place before year end.