Flex LNG - Resignation by CEO Øystein Kalleklev

31 Mar 2025 06:45 CEST

Hamilton, Bermuda

March 31, 2025

Flex LNG Ltd ("Flex LNG" or the "Company") (NYSE/OSE: FLNG) herby announce that
the Company's Board of Directors, under the Chairmanship of Ola Lorentzon, has
today accepted the resignation by Øystein Kalleklev from his role as Chief
Executive Officer (CEO). Mr. Kalleklev joined Flex LNG in October 2017 and was
appointed CEO in August 2018 and has thus been with the Company for exactly
seven and a half years.

The Board has appointed Marius Foss, Chief Commercial Officer, as interim CEO.
Mr. Kalleklev will however be available in an advisory capacity until end of the
third quarter to ensure a smooth transition period.

"On behalf of the Board, I would like to express our appreciation for Øystein's
leadership and the lasting impact he has had on the company. Under his
stewardship, the company has delivered strong performance and shareholder value
creation. While we regret his decision to step down, we are grateful for his
dedication and wish him all the very best in his future," said Ola Lorentzon,
Chairman of Flex LNG.

Øystein Kalleklev, outgoing CEO of Flex LNG, commented:

"I would like to thank everyone involved, particularly my good colleagues, for a
fantastic journey with Flex LNG. Together during the last seven and a half
years, we have built from scratch a first-class LNG shipping company which is
uniquely positioned with a substantial contract backlog and a fortress balance
sheet. After a long stint as CEO, I do however feel it's about time for me to
move on pursuing other opportunities. Hence, I am very glad that the Board has
decided to appoint Marius Foss as interim CEO. Marius has been instrumental in
the development and implementation of Flex LNGs commercial strategy since he
joined the Company in 2018 so with him at the helm, Flex LNG is in very safe and
capable hands."

For further information, please contact:

Media contact: Mr. Øystein Kalleklev, Chief Executive Officer of Flex LNG
Management

Investor and Analyst contact: Mr. Knut Traaholt, Chief Financial Officer of Flex
LNG Management

Telephone: +47 23 11 40 00

Email: ir@flexlng.com

More information:
Access the news on Oslo Bors NewsWeb site