FLEX LNG: Flex LNG enter into Time Charter Party Agreement for Flex Constellation

Hamilton, Bermuda
May 17, 2021

Flex LNG Ltd ("Flex LNG" or the "Company") (NYSE/OSE:FLNG), has today agreed a Time Charter Agreement with a minimum firm period of three (3) years on prompt basis for the LNG carrier Flex Constellation. The Charterer, a leading trading house, has the option to extend the period by up to three (3) additional years bringing the total period to six (6) years. Flex Constellation is a 173,400 cbm LNG Carrier delivered from DSME to Flex LNG in 2019. She is fitted with MEGI propulsion system and Partial Reliqufaction System (PRS).

Øystein M Kalleklev, Chief Executive Officer of Flex LNG Management AS, commented:
"We are pleased to announce another attractive time charter with a leading LNG player for one of our existing ships. This is very much in line with our communicated strategy of securing attractive term charters to improve our earnings visibility. With the improved freight market for LNG we think the timing now is right to execute on this strategy ."

For further information, please contact:
Mr. Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS
Telephone: [phone]
Email: [e-mail]