Monday September 7, 2020

Geveran Trading Co. Ltd. (“Geveran”), a company indirectly controlled by trusts established by Mr John Fredriksen for the benefit of his immediate family, has settled Total Return Swap (TRS) agreements underlying 825,000 shares in Flex LNG Ltd. expiring September 7th, 2020 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is December 7th, 2020 and new TRS price is NOK 51.0994 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,678,811 shares, constituting 45.61 percent of the issued share capital. Geveran controls after this in addition TRS agreements with exposure to totally 825,000 shares in Flex LNG Ltd.