Frontline Plc — Director's Dealing 2020

Jul 6, 2020

Notification of trade

Notification of trade

Hemen Holding Limited ("Hemen"), a company indirectly controlled by trusts

established by Mr John Fredriksen for the benefit of his immediate family, has

on July 6, 2020 settled a Total Return Swap ("TRS") agreement with underlying

exposure to 3,000,000 shares in Frontline Ltd. (“Frontline”), and subsequently

entered into a new TRS agreement underlying the same number of shares 3,000,000.

New expiry date for the TRS agreement is September 7, 2020, and new TRS price is NOK

68.539 per share. Hemen’s affiliated ownership in Frontline is following this

transaction unchanged 79,145,703 shares, equal to 40.0 percent of the issued

shares and votes in the company, and holds TRS agreements with underlying

exposure to 3,000,000 shares. Hemen does not hold other shares or rights to

shares in Frontline. This disclosure is made pursuant to section 4-2 of the

Norwegian Securities Trading Act.