Golar LNG Partners LP: Interim results for the period ended 30 June 2020

Highlights and subsequent events

• Exclusive of its interest in FLNG Hilli Episeyo, Golar LNG Partners LP (“Golar Partners” or “the Partnership”) generated operating income of $32.8 million for the second quarter of 2020.
• After accounting for $4.5 million of non-cash mark-to-market interest rate swap losses, the Partnership reported net income attributable to unit holders of $14.3 million for the second quarter.
• The Partnership generated distributable cash flow1 of $28.7 million for the second quarter resulting in a distribution coverage ratio1 of 20.09.
• Bondholders approved 18-month extensions to the May 2020 and May 2021 maturing high yield bonds.
• LNGC Golar Maria secured a multi-month charter giving Q2 utilization of 81% for this vessel and 92% for the fleet.
• The partnership declared a distribution for the second quarter of $0.0202 per unit.

Financial Results Overview

Golar Partners reports a net income attributable to unit holders of $14.3 million and operating income (which excludes its share of Hilli Episeyo which is accounted for under the equity method) of $32.8 million for the second quarter of 2020 (“the second quarter” or “Q2”), as compared to a net loss attributable to unit holders of $33.1 million and operating income of $27.7 million for the first quarter of 2020 (“the first quarter” or “Q1”) and a net loss attributable to unit holders of $5.5 million and operating income of $36.2 million for Q2 2019.