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Regulatory press release

Flex LNG finalize $430 million in new financings

FLEX LNG
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Hamilton, Bermuda
October 3, 2024

Flex LNG Ltd ("Flex LNG" and/or the "Company") (NYSE/OSE: FLNG) is pleased to announce today that the aggregate $430 million of new financings announced in the Q2-2024 report have been completed according to plan with net proceeds of about $97 million.

On September 24, 2024, the new $270 million bank facility financing Flex Aurora and Flex Ranger was completed, and the previous $375 million bank facility was repaid in full. Consequently, the Flex Endeavour was unencumbered at end of Q3-2024.

On October 3, 2024, the Company successfully closed the new $160 million JOLCO lease for Flex Endeavour at very attractive terms.

As announced in the Q2-2024 earnings presentation, Flex LNG had a cash balance of $370 million on June 30, 2024, thus with the completion of these refinancings, the Company will add to an already substantial cash balance.

Knut Traaholt, CFO of Flex LNG Management AS, commented:

"We are pleased to have completed another round of refinancings at very attractive terms. We highly appreciate the efforts of all involved parties for another smooth closing, and we welcome a new international shipping bank to our banking group. We are grateful for the trust and strong support from our banks and lease providers which have resulted in a very attractive funding platform for Flex LNG. Our financial strength together with the substantial charter backlog provide us with significant commercial and financial flexibility to further develop the Company."

For further information, please contact:

Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS

Telephone: +47 23 11 40 00

Email: ir@flexlng.com

About FLEX LNG

Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed on the New York Stock Exchange as well as Oslo Stock Exchange under the ticker FLNG. For more information, go to: www.flexlng.com

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