diff --git a/CHANGELOG.md b/CHANGELOG.md
index 12d5c00c8..51ff8001f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,7 @@
     * Support symlinks when saving `File`
 1. [](#bugfix)
     * Fixed flex objects with integer keys not working [#2863](https://github.com/getgrav/grav/issues/2863)
+    * Fixed `Pages::instances()` returning null values when using `Flex Pages` [#2889](https://github.com/getgrav/grav/issues/2889)
     * Fixed user avatar creation for new `Flex Users` when using folder storage
     * Fixed `Trying to access array offset on value of type null` PHP 7.4 error in `Plugin.php`
     * Fixed Gregwar Image library using `.jpeg` for cached images, rather use `.jpg`
diff --git a/system/src/Grav/Common/Page/Pages.php b/system/src/Grav/Common/Page/Pages.php
index 0e2ccce2c..a140f258e 100644
--- a/system/src/Grav/Common/Page/Pages.php
+++ b/system/src/Grav/Common/Page/Pages.php
@@ -748,12 +748,20 @@ class Pages
         $instance = $this->index[$path] ?? null;
         if (\is_string($instance)) {
             $instance = $this->directory ? $this->directory->getObject($instance, 'flex_key') : null;
-            if ($instance && $this->fire_events && method_exists($instance, 'initialize')) {
-                $instance->initialize();
+            if ($instance) {
+                if ($this->fire_events && method_exists($instance, 'initialize')) {
+                    $instance->initialize();
+                }
+            } else {
+                /** @var Debugger $debugger */
+                $debugger = $this->grav['debugger'];
+                $debugger->addMessage(sprintf('Flex page %s is missing or broken!', $instance), 'debug');
             }
         }
 
-        $this->instances[$path] = $instance;
+        if ($instance) {
+            $this->instances[$path] = $instance;
+        }
 
         return $instance;
     }