Klaipedos Nafta AB - Notification on material event

Notice on the Convened Extraordinary General Meeting of Shareholders of Klaipėdos Nafta AB

We hereby inform you that on the initiative and by the decision of the Board of
AB Klaipėdos nafta, code 110648893, registered at Burių st. 19, Klaipėda
(hereinafter, the “Company”), an extraordinary general meeting of shareholders
of the Company was convened on 28 March 2014 at 9.00 a.m. The meeting was held
in the registered office of the Company at Burių st.19, Klaipėda. 

Agenda of the meeting:

On approving the resolution of the Board of AB Klaipėdos Nafta to approve the
conclusion of the Novation Agreement, under which part of the rights and
obligations vested in Höegh LNG Ltd. under the Agreement on the Lease,
Operation, and Maintenance (Repair) of the Liquefied Natural Gas Floating
Storage and Regasification Unit (hereinafter, the FSRU) with the FSRU Purchase
Right shall be assigned to Hoegh LNG Klaipėda, UAB. 

Decisions adopted:

On approving the resolution of the Board of AB Klaipėdos Nafta to approve the
conclusion of the Novation Agreement, under which part of the rights and
obligations vested in Höegh LNG Ltd. under the Agreement on the Lease,
Operation, and Maintenance (Repair) of the Liquefied Natural Gas Floating
Storage and Regasification Unit (hereinafter, the FSRU) with the FSRU Purchase
Right shall be assigned to Hoegh LNG Klaipėda, UAB: 

“To approve of the resolutions of the Board of AB Klaipėdos Nafta:

1. In performance of the Agreement on the Lease, Operation, and Maintenance
(Repair) of the Liquefied Natural Gas Floating Storage and Regasification Unit
(hereinafter, the FSRU) for the Term of 10 Years with the FSRU Purchase Right
(hereinafter, the Agreement), concluded on 2 March 2012 with Höegh LNG Ltd.,
the winner of the public procurement organised by AB Klaipėdos Nafta
“Acquisition of the liquefied natural gas floating storage with regasification
unit”, to approve that the General Manager of AB Klaipėdos Nafta, in compliance
with the provisions of the Agreement, would enter into the Novation Agreement
(hereinafter, the Novation Agreement), by which a part of rights and
obligations of Höegh LNG Ltd. under the Agreement, except for the rights and
obligations related to the right of AB Klaipėdos Nafta to purchase the FSRU,
would be assigned to Hoegh LNG Klaipėda, UAB, a company indirectly fully
controlled by Höegh LNG Ltd. 

2. To determine that the above-indicated Novation Agreement regarding
assignment of rights and obligations under the Agreement can be concluded only
in case Höegh LNG Ltd. remains jointly and severally liable for all obligations
assigned to Hoegh LNG Klaipėda, UAB. 

3. To establish, that these decisions of the Board shall become effective after
the approval by the General Meeting of the Shareholders of the Company, as it
is provided in Article 16.10 of the Bylaws of the Company.” 




         Director of Finance and Administration Department, Mantas Bartuška, (+
370 46) 391 763