Wednesday March 6, 2019

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 8,250,000 shares in Flex LNG Ltd. expiring March 6th, 2019 and subsequently entered into a new TRS Agreement underlying the same number of shares 8,250,000. New expiry date is June 6th, 2019 and new TRS price is NOK 11.0629 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 241,338,119 shares, constituting 44.61 percent of the issued share capital. Geveran controls after this in addition TRS agreements with exposure to totally 8,250,000 shares in Flex LNG Ltd