Notification of Total Return Swap (TRS)

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 March 6th, 2020 and subsequently entered into a new TRS Agreement underlying the same number of shares 825,000. New expiry date is June 8th, 2020 and new TRS price is NOK 53.7425 per share. Geveran’s affiliated ownership in Flex LNG Ltd. is following this transaction unchanged 24,233,811 shares, constituting 44.79 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.