Flex Lng Ltd. · NYSE:FLNG
Flex Lng — DNB Investor Lunch NYC 2023
10 slides from Flex Lng's conference presentation, Jun 20, 2023
Slide 1: DNB Investor Lunch NYC
DNB Investor Lunch NYC June 20th, 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 56 years minimum firm backlog 3.6 yrs All 13 Avg. age XDF/MEGI Vessels Attractive Yield Robust Balance Sheet Current yield of ~12% All time high cash position.
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: High newbuilding prices results in higher term rates
HIGH NEWBUILDING PRICES RESULTS IN HIGHER TERM RATES NB price (LHS) 5 yr TC rate (RHS) Source: Clarkson SIN, SSY 6
Slide 7: Growing orderbook, limited availability of modern vessels
GROWING ORDERBOOK, LIMITED AVAILBALITY OF MODERN VESSELS Available NBs (% of orderbook) Propulsion split (existing fleet) Source: Maersk, Fearnleys, Braemer, Affinity and Clarkson 7
Slide 8: 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 8
Slide 9: All time high cash position after completion of refinancing
ALL TIME HIGH CASH POSITION AFTER COMPLETION OF REFINANCING Amounts in $m 9
Slide 10: Thank you!
Thank you!