FLNG Flex LNG Ltd.

Flex LNG - Presentation at the Danske Bank Gas Seminar

Flex LNG - Presentation at the Danske Bank Gas Seminar

November 22, 2023

Hamilton, Bermuda

Please find attached the LNG market presentation to be presented by our CFO Knut Traaholt at the Danske Bank Gas Seminar held in Oslo today.

The presentation is also available on our web page

For further information, please contact:

Knut Traaholt

Chief Financial Officer

Flex LNG Management AS

Telephone:

Email:

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. We have built up a significant contract backlog, having fixed 12 of our 13 vessels on long term fixed-rate charter contracts and one vessel on variable hire time charter. Flex LNG is listed both on the New York Stock Exchange (NYSE) and Oslo Stock Exchange (OSE) under the ticker "FLNG". For more information, go to:

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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22/11/2023

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Reports on Flex LNG Ltd.

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Flex LNG Minor model adjustments

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We expect a daunting orderbook to dent freight markets in the coming years, before the next wave of LNG export projects returning the market to healthy levels. Our BUYs on the LNGC names we cover reflect earnings visibility and attractive long-term rates underpinned by high newbuild prices, as we see the potential for a re-rating on still-building backlogs towards a brighter long-term future.

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A brewing challenge for the yards

Our 17th Annual Energy & Shipping Conference was well attended by investors and industry executives showcasing the still-growing interest for the sectors. Limited yard capacity is fuelling high newbuilding prices and raising freight rate expectations for the vast fleet renewal necessary in the coming decade. Long lead times underpin a bullish supply story for much of shipping in the coming years, albeit exposed to geopolitical risks affecting trade patterns. Our overall impression was general op...

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Flex LNG (Buy, TP: NOK340.00) - Bankable dividend stream

Due to its sizeable backlog, we find Flex LNG well positioned to maintain a healthy USD0.75 quarterly DPS despite a challenging outlook for LNGC spot markets. In fact, we believe the long-term freight market, reflective of elevated and sticky newbuild prices, should stay above its current backlog and provide a backstop with potential upside to favourable extension options and new contracts. Thus, we believe yesterday’s share price drop was unwarranted and have upgraded to BUY (HOLD) and raised o...

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