FLEX LNG agrees time charter with Endesa

Hamilton, Bermuda

December 19, 2019 

Flex LNG Ltd (Flex LNG or the Company) (OSE/NYSE:FLNG) today announce that it
has entered into a new time charter with Endesa for the vessel Flex Ranger.
Endesa is a leading company in the Spanish electricity sector and the second
largest operator in the Portuguese market as well as a subsidiary of Enel Group.
The firm period under the new time charter is 12 months and will commence in
direct continuation of an existing time charter with Enel which expires on or
about June 2020. Endesa will also have the option to extend the time charter by
an additional 12 months subsequent to the firm period maturing on or about June
2021. 

Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS,
commented: 
“We are pleased to announce that Endesa has elected to time charter Flex Ranger
in direct continuation of our existing time charter with Enel when this expires
in June next year. This charter party adds additional revenue backlog to a first
class charter in line with our communicated strategy.”
 
For further information, please contact:
Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
E-Mail: IR@flexlng.com

About FLEX LNG LTD
Flex LNG is shipping company focused on the growing market for Liquefied Natural
Gas (LNG). Our fleet consists of six LNG carriers on the water and seven
newbuildings for delivery in 2020/21. All our vessels are state-of-the-art ships
with the latest generation two-stroke propulsion (MEGI and X-DF). These modern
ships offers significant improvements in fuel efficiency and thus also carbon
footprint compared to the older steam and four-stroke propelled ships. Flex LNG
is listed both on the New York Stock Exchange (NYSE) and Oslo Stock Exchange
(OSE) under the ticker “FLNG”.
 
Forward Looking Statements
This press release contains certain forward-looking statements relating to the
business, financial performance and results of the Company and/or the industry
in which it operates, sometimes identified by the words “believes”, “expects”,
“intends”, “plans”, “estimates” and similar expressions. The forward-looking
statements contained in this release, including assumptions, opinions and views
of the Company or cited from third-party sources, are solely opinions and
forecasts which are subject to risks, uncertainties and other factors that may
cause actual events to differ materially from any anticipated development. The
Company does not provide any assurance that that the assumptions underlying such
forward-looking statements are free from errors, nor does the Company accepts
any responsibility for the future accuracy of the opinions expressed in the
presentation or the actual occurrence of the forecasted developments. No
obligations are assumed to update any forward-looking statements or to conform
to these forward-looking statements to actual results.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act or the continuing obligations of
Oslo Børs.