Flex LNG Ltd.

The Company’s vessel operations segment derives revenue from chartering vessels to customers on time charter contracts. The accounting policies of the vessel operations segment are the same as the Company's accounting policies.

The Company's chief operating decision maker, or CODM, is the Chief Executive Officer. The CODM measures performance based on our overall return to the shareholders based on consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets.

The CODM uses net income to evaluate segment assets in deciding whether to reinvest profits into the vessel operations segment or into other strategic activities, such as for acquisitions or to pay dividends.

The Company hasone reportable segment: vessel operations. The vessel operations segment relates to revenue generated from chartering of vessels to customers. Although separate vessel financial information is available, the CODM internally evaluates the performance of the Company as a whole and not on the basis of each vessel or charters. In addition, Company's vessels regularly move between countries in international waters over many trade routes, it is neither practical nor meaningful to assign revenues or earnings from the transportation of international LNG by geographic area. As a result, the Company has determined that it has a single reportable segment.

Consolidated expense information presented within the Consolidated Statements of Operations are considered to be significant expenses as they are important to our segment and regularly reported to the CODM. Additionally, we consider ‘Realized gain/ loss on derivative instruments’ and ‘Change in fair value of derivative instruments’, presented in “Note 12 – Financial Instruments” of the financial statements to be significant expenses. The Company has not identified any other significant expenses categories.

For the year ended December 31, 2025, we derived our operating revenues from five customers, with our topfour customers accounting for 39.8%,20.7%,25.4% and 12.6% of our consolidated revenues, equivalent to 98.5% of our consolidated revenues. During this period, no other customer accounted for over 10% of our consolidated revenues.

For the year ended December 31, 2024, we derived our operating revenues from seven customers, with our topfour customers accounting for 37.8%,25.1%,15.5% and 14.2% of our consolidated revenues, equivalent to 92.6% of our consolidated revenues. During this period, no other customer accounted for over 10% of our consolidated revenues.