Mandatory notification of trade primary insiders

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 December 6th, 2019 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is March 6th, 2020 and new TRS price is NOK 87.8039 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,133,811 shares, constituting 44.60 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