Flex LNG Ltd.

Board/Management Information • Aug 26, 2010

FLEX LNG Ltd - notice regarding allotment of new shares

Ian Beveridge

This is to inform that Mr. Ian Beveridge, a board

member of FLEX LNG Ltd, has been allotted 17,412

ordinary shares to be issued by Flex LNG Ltd as part

of his remuneration for the first half of 2010. The

shares constitute a total remuneration of USD 12,500,

based on a price per share of NOK 4.4846 for the

first half of 2010. The price per share is calculated

on the basis of the volume weighted average trading

price of the Company's shares over a period of ten

consecutive trading days ending on the day of the

remuneration settlement, being 21 July 2010.

Mr. Ian Beveridge is a director in Bernhard Schulte

Investment Holding, and in accordance with an

agreement with Mr. Ian Beveridge the shares will be

issued to Bernhard Schulte Investment Holding. After

the issue of these shares, Bernhard Schulte

Investment Holding will have a holding of 5,666,019

shares in the Company, representing 5.01% of the

total shares outstanding. Mr. Ian Beveridge also

holds 250,000 shares in a personal capacity.

Anders Westin

This is to inform that Mr. Anders Westin a board

member of FLEX LNG Ltd, has been allotted 17,412

ordinary shares to be issued by Flex LNG Ltd as part

of his remuneration for the first half of 2010. The

shares constitute a total remuneration of USD 12,500,

based on a price per share of NOK 4.4846 for the

first half of 2010. The price per share is calculated

on the basis of the volume weighted average trading

price of the Company's shares over a period of ten

consecutive trading days ending on the day of the

remuneration settlement, being 21 July 2010.

After the issue of these shares, Mr. Westin will have

a holding of 39,585 shares in the Company,

representing 0.04% of the total shares outstanding.

Mr. Westin is a managing director of HBK. Funds

managed by HBK own 14,996,167 shares of Flex LNG,

which equals 13.27% of the company. Mr. Westin and

HBK have no written voting agreement with regard to

the shares of Flex LNG owned by either Mr. Westin or

HBK.

Philip Fjeld

This is to inform that Mr. Philip Fjeld, a board

member of FLEX LNG Ltd, has been allotted 17,412

ordinary shares to be issued by FLEX LNG Ltd as part

of his remuneration for the first half of 2010. The

shares constitute a total remuneration of USD 12,500,

based on a price per share of NOK 4.4846 for the

first half of 2010. The price per share is calculated

on the basis of the volume weighted average trading

price of the Company's shares over a period of ten

consecutive trading days ending on the day of the

remuneration settlement, being 21 July 2010.

After the issue of these shares, Mr. Philip Fjeld

will have a holding of 40,083 shares in the Company,

representing 0.04% of the total shares outstanding,

and Mr. Philip Fjeld and his related parties have a

holding of 96,083 shares (representing 0.08% of the

shares outstanding).

James van Hoften

This is to inform that Mr. James van Hoften, a board

member of FLEX LNG Ltd, has been allotted 17,412

ordinary shares to be issued by FLEX LNG Ltd as part

of his remuneration for the first half of 2010. The

shares constitute a total remuneration of USD 12,500,

based on a price per share of NOK 4.4846 for the

first half of 2010. The price per share is calculated

on the basis of the volume weighted average trading

price of the Company's shares over a period of ten

consecutive trading days ending on the day of the

remuneration settlement, being 21 July 2010.

After the issue of these shares Mr. James van Hoften

will have a holding of 40,083 shares in the Company,

representing 0.04% of the total shares outstanding.

James MacHardy

This is to inform that Capt. James MacHardy, the

Chairman of the Board of Directors of FLEX LNG Ltd,

has been allotted 27,859 ordinary shares to be issued

by FLEX LNG Ltd as part of his remuneration for the

first half of 2010. The shares constitute a total

remuneration of USD 20,000, based on a price per

share of NOK 4.4846 for the first half of 2010. The

price per share is calculated on the basis of the

volume weighted average trading price of the

Company's shares over a period of ten consecutive

trading days ending on the day of the remuneration

settlement, being 21 July 2010.

After the issue of these shares, Capt. James MacHardy

will have a holding of 62,537 shares in the Company,

representing 0.06% of the total shares outstanding.