Flex LNG - 2023 Annual ESG Report

May 23, 2024

Hamilton, Bermuda

Flex LNG Ltd. (“Flex LNG” or the “Company”) today release its 2023 Annual ESG Report. This is the sixth edition of our ESG report after the inaugural report in 2018 and contains key information about our commitment to the Environment, Social development, and Governance (“ESG”) issues.

The report has been prepared in accordance with the Sustainability Accounting Standards Board's (SASB) Maritime Transportation Standard (2023) and with reference to the Global Reporting Initiative (GRI). The SASB standard allows the Company to identify, manage and report on material ESG topics with industry specific performance metrics.

Key ESG accomplishments for the Company in 2023 include reduced fleet emissions with ~7% compared to 2022 (tonnes CO2) and achieved an LTIF of 0.33. Furthermore, Flex LNG experienced zero spills or other types of releases to the environment in 2023.

In addition, the Company has also disclosed how it monitors climate risks and strategically manage its impact to the CDP, a non-profit organization aiding investors and companies globally in ESG disclosure. Flex LNG received a "B" rating from CDP in 2023, an improved score compared to the "B-" rating achieved in 2022. The Company views this score as an incentive to implement additional measures and expand its current programmes, such as those forming part of the Company's decarbonization journey.

The ESG report attached is also available on our website www.flexlng.com

For further information, please contact:

Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS

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.