FLEX LNG (FLNG) Company Presentation summary

Fleet and operations

• Operates a modern fleet of 13 LNG carriers with an average age of 5.1 years, featuring 4 X-DFs and 9 MEGIs.

• Secured 64 years of minimum charter backlog, potentially extending to 98 years with options.

• Focuses on adding more contract backlog with blue-chip counterparties for high earnings visibility.

• Most vessels have firm charters extending into the 2030s, supporting stable operations.

Financial performance and dividends

• Achieved 13 consecutive ordinary dividends of $0.75 per share, totaling $569m including special dividends.

• Current trailing twelve-month dividend yield is approximately 13.5%.

• Adjusted earnings per share for the last twelve months reached $2.51, with total distributions of $3.00 per share.

• Dividend decisions are based on earnings, cash flow, market outlook, backlog, liquidity, and debt maturities.

Balance sheet and liquidity

• No debt maturities before 2028, with maturities stretching to 2034.

• Pro forma cash position stands at $450m as of Q3 2024, with $414m revolving credit facility capacity.

• 2025 capex liability limited to $20m for drydocking four vessels, with 80 days offhire.

• Strong balance sheet and ample liquidity provide commercial and financial flexibility.