Frontline Ltd. ("Frontline" or the "Company") hereby announces that 1,170,000 share options have
been awarded to employees and board members in accordance with the terms of the Company's Share Option Scheme. The share options
will have a five-year term and will vest equally one third over a three-year vesting period. The exercise price is USD 8.00. The
exercise price will be adjusted for any distribution of dividends made before the relevant options are exercised.
The following primary insiders have been allocated options according to the above and they have
the following number of shares and options in the Company:
| Primary insider |
New share options |
Total share options |
Shareholding |
| Robert Hvide Macleod (CEO) |
798,000 |
798,000 |
220,000 |
| Inger Marie Klemp (CFO) |
120,000 |
120,000 |
180,000 |
| John Fredriksen (Chairman) |
198,000 |
198,000 |
0*) |
| Kate Alexandra Blankenship (director) |
21,000 |
21,000 |
2,343 |
| Ola Lorentzon (director) |
21,000 |
21,000 |
3,000 |
| Georgina Souza (director) |
12,000 |
12,000 |
0 |
*) Hemen Holding Limited is a Cyprus holding company, which is indirectly controlled by trusts
established by Mr. Fredriksen, for the benefit of his immediate family. Mr. Fredriksen disclaims beneficial ownership of the
80,803,422 ordinary shares held by Hemen, except to the extent of his voting and dispositive interest in such shares of common
stock. Mr. Fredriksen has no pecuniary interest in the shares held by Hemen.
July 5, 2016
The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions
clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Frontline Ltd. via Globenewswire
HUG#2026207