Hamilton, Bermuda. February 18, 2020.

Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that the following primary insiders have today acquired shares in Flex LNG:

Mr. Øystein M. Kalleklev, Chief Executive Officer of Flex LNG Management AS, has today acquired 2,500 shares in Flex LNG at a price of NOK 75.19. Following the transaction, Mr. Kalleklev holds 50,000 shares in Flex LNG and options for a further 60,000 shares. These options have a strike price of $14 per share equivalent to about NOK 119 per share with USD/NOK 8.50 and vest equally one third over a three-year vesting period.

For more info please contact: Harald Gurvin, Chief Financial Officer. Telephone +47 23 11 40 00

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