FRO – Appointment of CEO


The Board of Frontline Ltd. (“Frontline” or the “Company”) is pleased to announce the appointment of Mr. Lars H. Barstad as the Chief Executive Officer (“CEO”) of Frontline Management AS with effect from 1st September 2021.

Mr. Barstad currently serves as the Interim Chief Executive Officer of Frontline Management AS. Prior to that he held the role as Frontline’s Commercial Director and has previously worked as a trader with Noble Group Ltd and Glencore Ltd in London, as well as serving as Director of Imarex Pte Ltd in Singapore.

Ola Lorentzon, Chairman of the Board, says: “The Board is delighted to have appointed Lars H. Barstad, who has demonstrated his abilities serving as Interim CEO. We are confident Lars will be successful in his work, building shareholder value for Frontline.”

On being appointed, the incoming CEO stated: “I am very grateful for the acknowledgement from the Board and to be appointed CEO of Frontline. I look forward to continue my work with this great team in positioning the company for what I believe is very exciting years ahead for the tanker industry in general, and for Frontline in particular.”

August 19, 2021

The Board of Directors
Frontline Ltd.
Hamilton, Bermuda

Questions should be directed to:

Lars H. Barstad: Chief Executive Officer, Frontline Management AS
+47 23 11 40 37

Inger M. Klemp: Chief Financial Officer, Frontline Management AS
+47 23 11 40 76

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. Forward-looking statements 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. Words, such as, but not limited to “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. 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 the control of Frontline, Frontline cannot assure you that they will achieve or accomplish these expectations, beliefs or projections. The information set forth herein speaks only as of the date hereof, and Frontline disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.