Frontline Plc — Regulatory Filings 2018

Jun 28, 2018

FRO - Investment in Feen Marine Scrubbers Inc.

FRO - Investment in Feen Marine Scrubbers Inc.

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

has entered into memorandum of agreement ("MOA") to acquire a 20% ownership

interest in Feen Marine Scrubbers Inc., a leading manufacturer of exhaust gas

cleaning systems ("FMSI").  Pursuant to the MOA, Frontline and certain entities

affiliated with Hemen Holding Ltd, Frontline's largest shareholder, have agreed

to order FMSI exhaust gas cleaning systems for 14 vessels, with options to order

an additional 22 systems at fixed prices.

Robert Hvide Macleod, CEO of Frontline Management said: "The economic case to

install scrubbers is very compelling, particularly for larger vessels. Scrubbers

installed on existing vessels provide the same benefit as those delivered from

the yard on newbuildings and our solution comes at a much cheaper cost.

Additionally, this transaction allows Frontline to secure the capacity to

source a large volume of scrubbers, which we believe will present a challenge to

many owners as the deadline for sulphur emissions compliance approaches.  Our

relationship with Feen Marine has been structured in a manner that will be

beneficial to both parties and would not have been possible absent our

significant commercial scale and long-standing industry relationships."

Bjørnar Feen, Founder of Feen Marine Scrubbers Inc. (www.FeenMarineEGCS.com),

said: "We are extremely pleased to establish a partnership with Frontline, one

of the world's most prominent shipping companies.  We believe that this

memorandum of agreement is indicative of both Frontline's industry-leading

approach to managing its fleet as well as the high quality EGCS systems Feen

Marine produces.  We are proud that some of the world's largest shipping and

trading companies, including Frontline, Navig8 Group and Trafigura have chosen

Feen Marine as their main provider of EGCS systems."

June 28, 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 of the Norwegian Securities Trading Act.