FRO - Withdrawing Intention to Bid - Communication in Accordance with Article 8, §1 of the Royal Decree of 27 April 2007 on Public Takeover Bids

09 Jan 2023 23:00 CET

Regulated information. This press release contains inside information within the
meaning of Regulation (EU) no 596/2014 of the European Parliament and the
Council of 16 April 2014 on market abuse (market abuse regulation).

This notice relates to an earlier notice in accordance with article 8§1 of the
Royal Decree of 27 April 2007 on Public Takeover Bids.

Frontline Ltd. ("Frontline") (NYSE: FRO - OSE: FRO) refers to the notice dated
11 July 2022 in accordance with article 8§1 of the Belgian Royal Decree of 27
April 2007 on Public Takeover Bids regarding its intention to make a voluntary
conditional exchange offer on all outstanding shares of Euronav NV ("Euronav")
within the context of an agreed combination agreement with Euronav (the
"Combination Agreement") (NYSE: EURN - Euronext Brussels: EURN). This notice can
be found here: https://newsweb.oslobors.no/message/566760.

Frontline announces that as a result of the termination of the Combination
Agreement, it will not make such voluntary conditional exchange offer and
formally withdraws the intention expressed earlier, effective immediately.

January 9, 2023

The Board of Directors

Frontline plc

Limassol, Cyprus

Questions should be directed to:

Lars H. Barstad: Chief Executive Officer, Frontline Management AS

+47 23 11 40 00

Inger M. Klemp: Chief Financial Officer, Frontline Management AS

+47 23 11 40 00

Frontline considers that the information included in this announcement
constitutes inside information pursuant to article 7 of the Market Abuse
Regulation and this information is publicly disclosed in accordance with article
17 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities
Trading  Act. The announcement was published by the contact persons at 22:55 CET
on January 9, 2023.

Forward-Looking Statements

Matters discussed in this announcement may constitute forward-looking
statements. The Private Securities Litigation Reform Act of 1995 provides safe
harbor protections for forward-looking statements, which 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.

Frontline and its subsidiaries, desire to take advantage of the safe harbour
provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe harbour
legislation. This announcement and any other written or oral statements made by
Frontline or its behalf may include forward-looking statements, which reflect
its current views with respect to future events and financial performance and
are not intended to give any assurance as to future results. When used in this
document, the words "believe," "anticipate," "intend," "estimate," "forecast,"
"project," "plan," "potential," "will," "may," "should," "expect" and similar
expressions, terms or phrases may identify forward-looking statements.

The forward-looking statements in this announcement are based upon various
assumptions, including without limitation, management's examination of
historical operating trends, data contained in our records and data available
from third parties. 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 Frontline's control, it cannot assure you that Frontline
will achieve or accomplish these expectations, beliefs or projections. Frontline
undertakes no obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise. In addition to these
important factors and matters discussed elsewhere herein, important factors
that, in Frontline's view, could cause actual results to differ materially from
those discussed in the forward-looking statements include important factors
described from time to time in the reports and other documents, including
filings with the U.S. Securities and Exchange Commission.

NO OFFER OR SOLICITATION

This announcement shall not constitute an offer to sell or the solicitation of
an offer to buy, sell, or solicit any securities or any proxy vote or approval,
nor shall there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

More information:
Access the news on Oslo Bors NewsWeb site