FLEX LNG Ltd.

Hi everyone, I'm Øystein Kalleklev, CEO of FlexLNG, and today we are presenting our second quarter results. So let's review the highlights. Revenues came in at 86.7 million in line with our guidance of 85 to 90 million. This resulted in strong earnings net income of 39 million or 73 cents per share. In the adjusted numbers we only include the realized gains on derivatives so adjusted net income came in at 28.2 million or 53 cents per share. During the quarter we took three ships out of service for the scheduled dry docking and we completed all of them during the second quarter according to time and budget. This means we have carried out the full dry docking schedule for the year with four ships being dry docked in the first half of the year. And of course, this dry docking of three ships in the second quarter is the main reason why revenues are lower in the second quarter than first quarter. However, with all the dry dockings done for the year, we expect revenues to pick up in line with the guidance we provided in February. Revenues for Q3 and Q4 are expected to be 90 to 95 and 90 to 100 million respectively, where the main uncertainty is the spot level, which is affecting the one ship we have on variable time chart. That also means we should be on track for the guidance of the year, 370 million of revenues with adjusted EBITDA of 290 to 295 million. We are also pleased today to announce that Chenier has utilized the option as expected to extend Flex Vigilant by 200 days from Q4 2030 to middle of 2031. As some of you might recall, we extended three ships with Chenier last year. and they had an early option to extend vigilant by these 200 days and then get the option for a further two year extension. So with this extension we have in total now 54 years of minimum firm backlog and if charters are utilizing the extension option this will bring that number up to 80 years in total. So with very strong earnings visibility, a very strong financial position with 450 million dollars of cash and no debt maturities prior to 2028 after we completed the refinancing process, we are declaring a dividend of 75 cents per share. bringing the dividend the last 12 months to $3.25 per share, which should provide our investors with a very attractive yield of 10%. Okay, before we leave, don't forget our Q&A session. As usually, we have some nice gifts for the best question. We have a new set of Flex LNG shades. As we have completed the docking schedule for the year, you can also get this nice Flex boiler suit, which is perfect for doing some home improvements or home maintenance. And lastly, We are in great financial shape, so we have a nice running t-shirt to you. Just flex it. You can win that as well. Remember, tune in on our webcast, 3 o'clock Central European Time, 9 o'clock Eastern Standard Time. Thank you.