FLEX LNG (FLNG) Pareto Securities' 33rd Annual Energy Conference presentation summary

Investment highlights

• Operates 13 modern LNG carriers with an average age of 6.8 years and low newbuild costs compared to current market prices.

• Maintains high earnings visibility with 50 years of minimum charter backlog, potentially extending to 77 years.

• Strong balance sheet with no debt maturities before 2029 and robust cash position of $397 million as of Q2 2026.

• Listed on NYSE with a market cap of $1.8 billion and a trailing 12-month dividend yield of approximately 9.3%.

• Distributed about $850 million in dividends since 2021, with the 20th consecutive quarterly dividend paid.

Capital allocation and financial discipline

• Invests only when expected returns exceed requirements and optimizes funding to lower capital costs.

• Prioritizes returning excess cash to shareholders through dividends.

• Continued balance sheet optimization and disciplined capital allocation.

Contract coverage and fleet operations

• Minimum firm charter backlog of 50 years, with options potentially increasing this to 77 years.

• Fleet includes vessels with firm contracts extending into the 2040s.