FRONTLINE LTD. REPORTS RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED

FRONTLINE LTD. REPORTS RESULTS FOR THE SECOND QUARTER AND SIX MONTHS ENDED

JUNE 30, 2016 Frontline Ltd. (the “Company” or “Frontline”), today reported unaudited results for the three and six months ended June 30, 2016:

Highlights

 Achieved net income attributable to the Company of $14.3 million, or $0.09 per share, for the second quarter of 2016 and $93.2 million, or $0.60 per share, for the six months ended June 30, 2016.

 Achieved net income attributable to the Company adjusted for certain non-cash charges of $48.7 million, or $0.31 per share, for the second quarter of 2016 and $138.1 million, or $0.88 per share, for the six months ended June 30, 2016.

 Announces a cash dividend of $0.20 per share for the second quarter of 2016.

 Secured bank financing of up to $548 million and is in the final stages of obtaining approval for further bank financing of up to $325 million to part finance twenty newbuilding contracts.

 Sold six medium range tankers for an aggregate price of $172.5 million to an unaffiliated third party.

 Acquired two VLCC newbuildings for a purchase price of $84 million each.

FRONTLINE LTD. REPORTS RESULTS FOR THE FIRST QUARTER 2016

Frontline Ltd. (the “Company” or “Frontline”), today reported unaudited results for the three months ended March 31, 2016:

Highlights

 Achieved net income attributable to the Company of $78.9 million, or $0.50 per share, for the first quarter of 2016.

 Announces a cash dividend of $0.40 per share for the first quarter of 2016.

 Obtained commitments for up to $603.4 million of new financing in May 2016 comprising of $328.4 million in bank financing for eight newbuilding contracts and a senior unsecured facility of up to 275.0 million from a company affiliated with our largest shareholder, Hemen Holding Ltd.

 Took delivery of four LR2 tanker newbuildings in the first quarter and one LR2 tanker newbuilding in May 2016.