Flex Lng Ltd. · NYSE:FLNG
Flex Lng — Investor Presentation (December 2024)
12 slides from Flex Lng's investor presentation, December 2024
Slide 1: Company Presentation
Company Presentation December 2024 1
Slide 2: Disclaimer
DISCLAIMER 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 THEIR BUSINESS.
Slide 3: Flex LNG Investment Highlights
FLEX LNG INVESTMENT HIGHLIGHTS Modern LNGC fleet High earnings visibility Fortress balance sheet Shareholder focus Attractive capital returns • 13x modern LNGCs; • 64 years of minimum • No debt maturities • Dual listed on New • 13th consecutive 4 X-DFs and 9 MEGIs charter backlog, may prior 2028 wit
Slide 4: High Contract Coverage and Earnings Visibility
HIGH CONTRACT COVERAGE AND EARNINGS VISIBILITY… 64 years of min. charter backlog which may grow to 98 years with charterer’s extension options E V E I e Conste a on e Rain o NA e Reso te e Co ra eo s e En ea o r e i i ant e A er NA e Enterprise NA e ree o e o nteer e A rora e Ran er NA e Arte is i e
Slide 5: Supporting a Stable & Attractive Dividend
…SUPPORTING A STABLE & ATTRACTIVE DIVIDEND… Quarterly dividend, $m 13th consecutive ordinary dividends of $0.75 per share, totalling $569m when including the special dividends 5
Slide 6: Because Earnings Belong to Shareholders
…BECAUSE EARNINGS BELONG TO SHAREHOLDERS Short-term market outlook deemed to be ! The structural demand remains intact, i.e. the long-term market outlook is ✓ Note: 1) Adjusted EPS is non-GAAP measures. A reconciliation to the most directly comparable GAAP measure is included in the earnings report
Slide 7: Fortress Balance Sheet
FORTRESS BALANCE SHEET STABLE CASH FLOWS WV, Sustainable cash flows from long term fixed rate contracts and limited near term market exposure CAPITAL AVAILABLE WITH LOW CARRY COST LIMITED CAPEX LIABILITIES AND FIRST DEBT MATURITY IN 2028 y -Y $450m in available cash. RCF capacity at $414m used for c
Slide 8: We Are Well Positioned in Terms of Market Outlook
WE ARE WELL POSITIONED IN TERMS OF MARKET OUTLOOK Liquefaction capacity, MT LNGC newbuild deliveries, # of vessels nco i e +5% +6% Non atar +8% +8% +9% atar +6% +5% +1% +3% e i ere High supply growth Low supply growth YE # of ST vessels redelivered from contract LNGC newbuild price, $m 25 120 280 20
Slide 9: Incremental LNG Demand Moved from Europe to Asia
INCREMENTAL LNG DEMAND MOVED FROM EUROPE TO ASIA Top LNG exporters, YT-2024, MT -1% +1% +4% Top LNG importers, YTD-2024, MT -1.0 MT +1.9 MT +4.4 MT % = Percentage change YTD-2024 from YTD-2023 + MT = Absolute change YTD-2024 from YTD-2023 126 +4% -19% -% +1.2 MT -22.1 MT +0.1 MT 92 +7% +1% +4.4 MT +
Slide 10: Third Wave of LNG Will Add >200 MTPA in New Capacity
THIRD WAVE OF LNG WILL ADD >200 MTPA IN NEW CAPACITY Liquefaction supply, MTPA 800 1st wave: 2nd LNG wave: 3rd LNG wave: 2006-’10 2015-’20 2026-’30 700 Qatar adds ~50 Australia adds ~40 MT, MT and US add >60 MT 600 500 USA 400 Australia 300 Qatar 200 Other 100 0 2005 2010 2015 2020 2025 2030 Source:
Slide 11: We Are Well Positioned for the Next Tightening Cycle
WE ARE WELL POSITIONED FOR THE NEXT TIGHTENING CYCLE LNG shipping balance, # of 174,000 cbm equivalent LNGCs 1,000 Fleet 900 LNG shipping demand 800 Market tightening expected to commence 700 in 2027, with the market being undersupplied from that point forward 600 Assumes 53x steam vessels to gradua
Slide 12: Thank you!
Ww Thank you! a