Slide 1: Interim Financial Information Flex LNG Ltd. Second Quarter 2026
Interim Financial Information Flex LNG Ltd. Second Quarter 2026 August 19, 2026
Slide 2: August 19, 2026 - Hamilton, Bermuda
August 19, 2026 - Hamilton, Bermuda Flex LNG Ltd. ("we", "us", "our", "Flex LNG", or the “Company”) today announced its unaudited financial results for the quarter ended June 30, 2026. Highlights: A summary of our financial highlights for the quarter is below: Q2 2026 Q1 2026 Vessel operating revenu
Slide 3: Marius Foss, CEO, commented
Marius Foss, CEO, commented: “In the second quarter of 2026, we generated revenues of $106.8 million, or $102.7 million excluding EU Allowances, our highest quarterly revenue since the fourth quarter of 2021. Fleet-wide Time Charter Equivalent earnings were $86,119 per day, compared with $65,729 per
Slide 4: Quarterly dividends
Quarterly dividends On August 18, 2026, the Company’s Board of Directors declared a cash distribution for the second quarter 2026 of $0.75 per share. The distribution will be made from the Company’s Contributed Surplus account, which consists of previously paid in share premium transferred from the
Slide 5: Net income for the second quarter 2026
Net income for the second quarter 2026 was $44.9 million, with basic earnings per share of $0.83, compared with net income of $19.5 million and basic earnings per share of $0.36 for the first quarter 2026. Adjusted net income2 was $42.5 million, with adjusted basic earnings per share of $0.79 for th
Slide 6: Technical uptime and fleet overview
We achieved 100% technical uptime, excluding offhire related to drydockings, on our vessels in the second quarter 2026. The vessels generated a FuelEU Maritime1 compliance surplus related to the 2025 compliance period, reflecting the lower greenhouse gas intensity of our modern, fuel-efficient vesse
Slide 7: LNG Market Update
LNG Market Update The second quarter of 2026 was characterized by elevated geopolitical uncertainty, shifting LNG trade flows and considerable volatility in market sentiment. A temporary rally in Asian LNG prices briefly reopened the West–East arbitrage, encouraging cargo redirections, eastbound ves
Slide 8: European and North Asian LNG demand
tightened. Germany imported approximately 4.8 million tonnes and the UK 5.4 million tonnes, while other European buyers also increased purchases amid relatively low storage inventories and continued displacement of Russian gas. However, total European LNG imports declined by approximately 4% year-on
Slide 9: Forward-Looking Statements
Forward-Looking Statements Matters discussed in this press release 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
Slide 10: Forward-Looking Statements (continued)
that may limit the commercially useful lives of LNG tankers, customers' increasing emphasis on environmental and safety concerns, potential liability from pending or future litigation, global and regional economic and political conditions and developments, armed conflicts, including developments inv
Slide 11: Condensed Consolidated Interim Statements of Operations
Unaudited Interim Financial Information Condensed Consolidated Interim Statements of Operations (figures in thousands of $, except per share data) Three months ended Six months ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Vessel operating revenues 106,799 80,457 85,98
Slide 12: Condensed Consolidated Interim Balance Sheets
Unaudited Interim Financial Information Condensed Consolidated Interim Balance Sheets (figures in thousands of $, except per share data) June 30, March 31, December 31, 2026 2026 2025 ASSETS Current assets Cash and cash equivalents 397,382 389,068 447,632 Restricted cash — — 65 Inventory 7,473 6,317
Slide 13: Condensed Consolidated Interim Statements of Cash Flows
Unaudited Interim Financial Information Condensed Consolidated Interim Statements of Cash Flows (figures in thousands of $) Three months ended Six months ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 OPERATING ACTIVITIES Net income 44,851 19,511 17,719 64,362 36,447 Ad
Slide 14: Condensed Consolidated Interim Statement of Changes in Equity
Unaudited Interim Financial Information Condensed Consolidated Interim Statement of Changes in Equity (figures in thousands of $, except per share data) For the six months ended June 30, 2026: Number of Additional Shares Share Treasury Paid in Contributed Accumulated Outstanding Capital Shares Capit
Slide 15: APPENDIX A - Supplemental Financial Information
APPENDIX A - Supplemental Financial Information (A) Vessels and equipment, net Movements in the six months ended June 30, 2026 for vessels and equipment, net are summarized as follows: (figures in thousands of $) Vessels and equipment Drydocks Total Cost At January 1, 2026 2,467,470 65,509 2,532,979
Slide 16: (C) Long-term debt
(C) Long-term debt As of June 30, 2026, the Company's long-term debt obligations, net of debt issuance costs, are summarized as follows: (figures in thousands of $) Non-current Facility Name Type Maturity Date Current portion portion Total Flex Enterprise $150 Million Facility Term and revolving Jun
Slide 17: (E) Share-based compensation
(E) Share-based compensation In June 2026, the Company issued 234,974 synthetic share options to members of top management and key personnel. The synthetic share options have a five-year term from June 24, 2026, with a three-year vesting period, whereby: 33% will vest after one year; 33% will vest a
Slide 18: Reconciliation of net income to EBITDA and Adjusted EBITDA
The table below reconciles net income, the most directly comparable U.S. GAAP measure, to EBITDA and Adjusted EBITDA. (Unaudited figures in thousands of $) Three months ended Six months ended June 30, March 31, June 30, June 30, June 30, 2026 2026 2025 2026 2025 Net income 44,851 19,511 17,719 64,36
Slide 19: Reconciliation of Total Operating Revenues to Time Charter Equivalent Rate
(C) Reconciliation of Total Operating Revenues to Time Charter Equivalent Income and Time Charter Equivalent Rate Time charter equivalent rate ("TCE rate") represents the weighted average daily TCE income of our entire operating fleet. TCE rate is a measure of the average daily income performance. O