# 6-K exhibit

- Source: edgar · Published: 2026-05-13 · Kind: report
- Original: https://www.sec.gov/Archives/edgar/data/1772253/000162828026034365/q12026flexpr11.htm
- Local copy: `data/documents/FLNG/2026-05-13_q12026flexpr11.html`

**TL;DR —** Flex LNG reported a decline in Q1 2026 earnings due to seasonal market lows and drydockings, but anticipates a stronger full-year performance with increased guidance driven by a surge in spot rates following geopolitical disruptions in the Middle East.

## Takeaways
- **Net Income and EPS Decline:** Q1 2026 net income decreased to $19.5 million ($0.36 EPS) from $21.6 million ($0.40 EPS) in Q4 2025, primarily due to seasonal market lows and vessel drydockings.
- **TCE Rate Lower:** The Time Charter Equivalent (TCE) rate fell to $65,729/day in Q1 2026 from $70,119/day in Q4 2025, reflecting a soft spot market and higher voyage expenses.
- **Strategic Chartering:** Despite the soft start, the company secured a new two-year time charter for *Flex Aurora* and extended charters for *Flex Resolute* and *Flex Courageous* through 2032, capitalizing on market shifts.
- **Increased Full-Year Guidance:** Flex LNG raised its FY2026 revenue guidance by ~10% to $345-$370 million and its fleet-wide TCE rate guidance by ~8% to $73-$78,000/day, driven by a dramatic surge in spot rates post-Iran war.
- **Dividend Maintained:** The company declared a consistent quarterly dividend of $0.75 per share, marking its 19th consecutive payment, demonstrating commitment to shareholder returns.
- **Geopolitical Impact:** The war in Iran and closure of the Strait of Hormuz caused spot rates to surge from $30,000/day to over $250,000/day, significantly impacting market dynamics and the company's outlook.

*Generated 2026-09-15 via google/gemini-2.5-flash*