FRO - Primary insider transaction

Robert Hvide Macleod, CEO of Frontline Management AS, has on 26 July 2018 purchased 120,000 shares in Frontline Ltd. ("Frontline") at a price of NOK 43.40 per share. Subsequently, Mr Macleod has sold 500,000 shares in Frontline at a price of NOK 43.70 per share, and entered into TRS agreements with exposure to 500,000 shares in Frontline with expiry date 8 March 2019 and TRS price NOK 44.34 per underlying share. Following the purchase and sale of shares, Mr Macleod does not hold shares in Frontline. In addition to the TRS agreements, Mr Macleod holds options to acquire 798,000 shares in Frontline, as previously disclosed.