Notification of Trade – Primary Insiders

Hamilton, Bermuda. August 21, 2020.

Flex LNG Ltd (“Flex LNG” or the “Company”) hereby announces that the following primary insider has 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 47.00. Following the transaction, Mr. Kalleklev holds 47,500 shares in Flex LNG and options for a further 60,000 shares. These options have a strike price of $ 14.10 per share equivalent to about NOK 126.9 per share with USD/NOK 9.00 and vest equally one third over a three-year vesting period.

Mr. Harald Gurvin, Chief Financial Officer of Flex LNG Management AS, has today acquired 2,000 shares in Flex LNG at a price of NOK 47.10. Following the transaction, Mr. Gurvin holds 17,000 shares in Flex LNG and options for a further 30,000 shares. These options have a strike price of $ 17.40 per share equivalent to about NOK 156.6 per share with USD/NOK 9.00 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