Flex LNG

Transaction in Own Shares • Aug 20, 2025

Flex LNG - Launch of Share Buyback Program

Flex LNG - Launch of Share Buyback Program

August 20, 2025

Hamilton, Bermuda

The Board of Directors of Flex LNG Ltd. ("Flex LNG" or the "Company") authorized

a share buyback program that allows the Company to repurchase up to $15 million

of its outstanding shares.

In furtherance of the program, the Company announces today that it has put in

place an agreement with DNB Markets, Inc. and DNB Carnegie, a part of DNB Bank

ASA, for the repurchase of the Company's shares in open market transactions on

the Oslo Stock Exchange ("OSE") and the New York Stock Exchange ("NYSE").

Repurchases on the OSE will be completed in accordance with the Market Abuse

Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) 2016/1052.

Repurchases on the NYSE will be made in accordance with U.S. securities laws and

regulations, including compliance with the safe harbor provided by Rule 10b-18

promulgated by the U.S. Securities and Exchange Commission under the U.S.

Securities Exchange Act of 1934, as amended.

The share buyback program will commence on August 20, 2025 and continue through

November 27, 2025. The Company may repurchase up to $15 million of its shares,

subject also to a maximum limit of 900,000 shares. The shares purchased will be

held as treasury shares. The actual timing, number and value of shares

repurchased under the repurchase program will depend on several factors,

including the manner, timing, and volume restrictions specified in Rule 10b-18,

price, general business and market conditions, and alternative investment

opportunities. The Company reserves the right to make subsequent changes to the

above terms for the program, including shortening, extending and/or replacing

the program.

The amount utilized for the share buyback program will be treated independently

from future dividend consideration, which remains at the discretion of the Board

of Directors in accordance with the Company's dividend policy.

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

This information is subject of the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act and article 5 of the European Market

Abuse Regulation.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements. The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements in order to encourage

companies to provide prospective information about their business. Forward

-looking statements include statements concerning plans, objectives, goals,

strategies, future events or performance, and underlying assumptions and other

statements, which are other than statements of historical facts. The Company

desires to take advantage of the safe harbor provisions of the Private

Securities Litigation Reform Act of 1995 and is including this cautionary

statement in connection with this safe harbor legislation. The words "believe,"

"expect," "forecast," "anticipate," "aim," "commit," "estimate," "intend,"

"plan," "possible," "potential," "pending," "target," "project," "likely,"

"may," "will," "would," "should," "could" and similar expressions identify

forward-looking statements.

The forward-looking statements in this press release are based upon various

assumptions, many of which are based, in turn, upon further assumptions,

including without limitation, management's examination of historical operating

trends, data contained in the Company's records and other data available from

third parties. Although management believes that these assumptions were

reasonable when made, because these assumptions are inherently subject to

significant uncertainties and contingencies which are difficult or impossible to

predict and are beyond the Company's control, there can be no assurance that the

Company will achieve or accomplish these expectations, beliefs or projections.

As such, these forward-looking statements are not guarantees of the Company's

future performance, and actual results and future developments may vary

materially from those projected in the forward-looking statements. The Company

undertakes no obligation, and specifically declines any obligation, except as

required by applicable law or regulation, to publicly update or revise any

forward-looking statements, whether as a result of new information, future

events or otherwise. New factors emerge from time to time, and it is not

possible for the Company to predict all of these factors. Further, the Company

cannot assess the effect of each such factor on its business or the extent to

which any factor, or combination of factors, may cause actual results to be

materially different from those contained in any forward-looking statement.

In addition to these important factors, other important factors that, in the

Company's view, could cause actual results to differ materially from those

discussed in the forward-looking statements include: unforeseen liabilities,

future capital expenditures, the strength of world economies and currencies,

inflationary pressures and central bank policies intended to combat overall

inflation and rising interest rates and foreign exchange rates, general market

conditions, including fluctuations in charter rates and vessel values, changes

in demand in the LNG tanker market, the impact of public health threats, changes

in the Company's operating expenses, including bunker prices, drydocking and

insurance costs, the fuel efficiency of the Company's vessels, the market for

the Company's vessels, availability of financing and refinancing, ability to

comply with covenants in such financing arrangements, failure of counterparties

to fully perform their contracts with the Company, changes in governmental rules

and regulations or actions taken by regulatory authorities, including those that

may limit the commercial useful lives of LNG tankers, customers' increasing

emphasis on environmental and safety concerns, potential liability from pending

or future litigation, global and regional economic and political conditions or

developments, armed conflicts, including the war between Russia and Ukraine, and

possible cessation of such war in Ukraine, the conflict between Israel and Hamas

and related conflicts in the Middle East, the Houthi attack in the Red Sea and

Gulf of Aden, threats by Iran to close the Strait of Hormuz, trade wars,

tariffs, embargoes and strikes, the impact of restrictions on trade, including

the imposition of new tariffs, port fees and other import restrictions by the

United States on its trading partners and the imposition of retaliatory tariffs

by China and the European Union on the United States, business disruptions,

including supply chain disruption and congestion, due to natural or other

disasters or otherwise, potential physical disruption of shipping routes due to

accidents, climate-related incidents, or political events, potential

cybersecurity or other privacy threats and data security breaches, vessel

breakdowns and instances of offhire, and other factors, including those that may

be described from time to time in the reports and other documents that the

Company files with or furnishes to the U.S. Securities and Exchange Commission

("Other Reports"). For a more complete discussion of certain of these and other

risks and uncertainties associated with the Company, please refer to the Other

Reports.