Frontline Plc — M&A Activity 2016

Jun 2, 2016

FRO - Frontline, Diamond S. Shipping and Euronav join in formation of Suezmax Chartering

FRO - Frontline, Diamond S. Shipping and Euronav join in formation of Suezmax Chartering

Frontline Ltd. ("Frontline"), today announces the formation of Suezmax

Chartering, a commercial joint venture with Diamond S. Shipping LLC and Euronav

NV. The aim of the joint venture is to create a single point of contact for

cargo owners to access a large fleet of 43 modern Suezmax vessels, traded

operated on the spot market. Frontline will contribute 22 vessels to the joint

venture, including 14 vessels on the water and 8 newbuildings as they are

delivered.

A larger fleet will provide more flexibility and more options for cargo owners

and also reduce voyage related expenses by optimizing vessel selection based on

proximity to cargoes, thereby reducing greenhouse gas emissions as a direct

consequence of using less fuel for ballasting movements.

Suezmax Chartering will operate from the existing offices of Frontline, Diamond

S and Euronav.

Robert Hvide Macleod, CEO of Frontline Management said: "I look forward to

working with Diamond S. and Euronav on this important venture. We share the

common goal of providing safe, timely and high quality service to our

customers."

The Board of Directors

Frontline Ltd.

Hamilton, Bermuda

June 2, 2016

Questions should be directed to:

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 of the Norwegian Securities Trading Act.

[HUG#2017468]