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.

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