Frontline Plc — Major Shareholding Notification 2020

Sep 7, 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 September 7, 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 December 7, 2020, and new TRS price is NOK 67.8985 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.