Flex Lng Ltd. · NYSE:FLNG
Flex Lng — ABGSC Shipping Seminar 2023
9 slides from Flex Lng's conference presentation, Apr 13, 2023
Slide 1: Shipping Seminar
Shipping Seminar April 13, 2023 1 Flex Enterprise finalized dry-docking March 2023
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS MATTERS DISCUSSED IN THIS PRESENTATION MAY CONSTITUTE FORWARD-LOOKING STATEMENTS. THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES SAFE HARBOR PROTECTIONS FOR FORWARD-LOOKING STATEMENTS IN ORDER TO ENCOURAGE COMPANIES TO PROVIDE PROSPECTIVE INFORMATION ABOUT T
Slide 3: Providing an Attractive Exposure with Downside Protection
PROVIDING AN ATTRACTIVE EXPOSURE WITH DOWNSIDE PROTECTION Attractive Assets High Earnings Visibility Superior cargo economics & ESG profile 60 years minimum firm backlog ~3 yrs All 13 Avg. age XDF/MEGI Vessels Attractive Yield Robust Balance Sheet Current yield of ~11% YE cash $332m + $204m released
Slide 4: Our Fleet Consist of Attractive LNG Carriers
OUR FLEET CONSIST OF 13 ATTRACTIVE LNG CARRIERS $m 270 Newbuilding prices 174,000 cbm 2-stroke $200 000 More efficient ships command higher rates 260 $180 000 250 $160 000 240 $140 000 230 $120 000 220 $100 000 210 $80 000 200 $60 000 Flex acquires 11 190 $40 000 newbuilds 180 $20 000 170 $0 October
Slide 5: High Contract Coverage – Now Marketing 2027 Positions
HIGH CONTRACT COVERAGE – NOW MARKETING 2027 POSITIONS Extended 10 years Extended 5.6 years Extended 6.4 years Extended 7 years Extended 7 years Extended 2 years 5
Slide 6: Earnings Belong to Shareholders
EARNINGS BELONG TO SHAREHOLDERS 1) Adjusted EPS is a non-GAAP measure. A reconciliation to the most directly comparable GAAP measure is included in the earnings report 6
Slide 7: Record High Cash Position with More to Come
RECORD HIGH CASH POSITION WITH MORE TO COME Amounts in US$m 7
Slide 8: $2bn Balance Sheet Optimization Completed
$2BN BALANCE SHEET OPTIMIZATION COMPLETED PHASE 1 PHASE 2 PHASE 2.1 $160m $375m $320m $150m $150m $330m $180m $290m Lease Term Loan / RCF Lease Bank Bank Lease Lease Term Loan / RCF Flex Volunteer Flex Endeavour Flex Constellation Flex Enterprise Flex Resolute Flex Amber Flex Rainbow Flex Freedom Fl
Slide 9: Thank you!
Thank you! TA) =~ -_ “LEX COUR