Frontline Plc — Capital/Financing Update 2018

Nov 1, 2018

FRO - Committed to Installing Additional Scrubbers, Extension of Senior Unsecured revolving $275.0 Million Credit Facility to Nov 2020 and Option Awards

FRO - Committed to Installing Additional Scrubbers, Extension of Senior Unsecured revolving $275.0 Million Credit Facility to Nov 2020 and Option Awards

Frontline Ltd. (the "Company" or "Frontline") (NYSE: FRO) today announces that

it has ordered exhaust gas cleaning systems ("EGCS") for a further 12 vessels

from Feen Marine Scrubbers Inc. ("FMSI").  This follows the Company's previously

announced commitment to order six EGCS with additional fixed price options from

FMSI and its acquisition of a 20% ownership interest in FMSI in June 2018. In

total, Frontline has thus far committed to install 20 EGCS, including two EGCS

being installed on the newbuilding VLCCs Front Discovery and Front Defender.

In addition, Frontline announces that it has extended the terms of its senior

unsecured revolving credit facility of up to $275.0 million with an affiliate of

Hemen Holding Ltd. by 12 months to November 2020.

Robert Hvide Macleod, CEO of Frontline Management said:

"Backed by the ongoing commitment and support from Frontline's largest

shareholder, we have taken significant steps to modernize our fleet, decreasing

the average age of our owned vessels to 4.7 years.  Following the committed

installations, over 40% of our owned fleet will be equipped with scrubbers.

Notably, the majority of these installations will be performed prior to 2020,

when new sulphur emissions compliance requirements go into effect.  Further

installations will be considered, and we are uniquely positioned to access

scrubber capacity from Feen Marine.  We believe our actions will position the

Company to generate significant earnings for our shareholders."

Lastly, Frontline announces that 180,000 share options have been awarded to

employees in accordance with the terms of the Company's Share Option Scheme. The

share options will expire in July 2021 and will vest in July 2019. The exercise

price is USD 7.40. The exercise price will be adjusted for any distribution of

dividends made before the relevant options are exercised. Out of the total

number of share options 10,000 have been awarded to the primary insider Tom

Pryor (CAO) according to the above and following this he has 10,000 share

options and no shares in the Company.

November 1, 2018

The Board of Directors

Frontline Ltd.

Hamilton, Bermuda

Robert Hvide Macleod: Chief Executive Officer, Frontline Management AS

+47 23 11 40 84

Inger M. Klemp: Chief Financial Officer, Frontline Management AS

+47 23 11 40 76

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements. Forward-looking statements include statements concerning plans,

objectives, goals, strategies, future events or performance, and underlying

assumptions and other statements, which are other than statements of historical

facts. Words, such as, but not limited to "believe," "anticipate," "intends,"

"estimate," "forecast," "project," "plan," "potential," "may," "should,"

"expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various

assumptions, many of which are based, in turn, upon further assumptions.

Although Frontline believes that these assumptions were reasonable when made,

because these assumptions are inherently subject to significant uncertainties

and contingencies which are difficult or impossible to predict and are beyond

the control of Frontline, Frontline cannot assure you that they will achieve or

accomplish these expectations, beliefs or projections. The information set forth

herein speaks only as of the date hereof, and Frontline disclaims any intention

or obligation to update any forward-looking statements as a result of

developments occurring after the date of this communication.

This information is subject to the disclosure requirements pursuant to section

5-12 and section 4-2 of the Norwegian Securities Trading Act.