Enhanced Investments - Financial Portal

Flex LNG - Market, Employment and Revenue Update July 2022

Published: 2022-07-06 05:00:00 ET

July 6, 2022

Hamilton, Bermuda

Flex LNGupdates on the market, employment and revenue guidance

Flex LNG Ltd. ("Flex LNG" or the "Company") will be providing an update on employment, adjusted revenue guidance and the general market during a presentation at Arctic Securities today.

Given the recently announced Time Charter Agreements for Flex Rainbow, Flex Enterprise and Flex Amber which have secured in total 24 years of fixed hire employment, Flex LNG has made the following positive adjustments to its revenue guidance for the year:

Expected revenues in Q2-22: ~$85m vs. $80m
Expected revenues in Q3-22: ~$90m vs. $82-92m
Expected revenues in Q4-22: $90-100m vs. $85-105m

Flex LNG also guide higher revenues and Time Charter Equivalent Earnings (TCE) in 2023 than 2022 due to repricing of its employment portfolio and significantly reduced spot exposure which dragged down revenues in Q1-22 due to the pull of US cargoes to Europe in this period.

Furthermore, the Company has also initiated a phase 2 of its balance sheet optimization program with the aim of increasing its available liquidity by a further $100m. This comes on top of the expected free liquidity as of June 30, 2022, of approximately $285m. In total, phase 1 of the program is expected to have released an aggregate $137m when the Flex Endeavour refinancing is completed in Q3 vs. the stated ambition of $100m when announced in November 2021.

Please find attached the presentation. The presentation is also available on www.flexlng.com

For further information, please contact:

Knut Traaholt, Chief Financial Officer of Flex LNG Management AS

Telephone: +47 23 11 40 00

Email: IR@flexlng.com

About FLEX LNG:

Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two- stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed both on the New York Stock Exchange (NYSE) and Oslo Stock Exchange (OSE) under the ticker "FLNG".

For more information, go to: www.flexlng.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Attachment

Flex LNG - Market and Employment Update July 2022

Source: FLEX LNG

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.