Flex LNG finalize $430 million in new financings

03 Oct 2024 09:56 CEST

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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