FRO – Changes to the Board composition


Frontline Ltd. (“Frontline” or “the Company”) announces that Mr. Tor Svelland has resigned as a Director of the Company.

Mr. Svelland has served as a Director since August 2020. The Board would like to thank Mr. Svelland for his contribution and wishes him well in his future pursuits.

Frontline announces the appointment of Mr. Ole B. Hjertaker as a Director of the Company.

Ole B. Hjertaker has been a Director of SFL Corporation Ltd. (“SFL”) since October 2019. Mr. Hjertaker has served as Chief Executive Officer of SFL since 2009 and served as Chief Financial Officer from 2006 to 2009. Prior to joining SFL, Mr. Hjertaker was employed in the Corporate Finance division of DNB Markets, a leading shipping and offshore bank. Mr. Hjertaker has extensive corporate and investment banking experience, mainly within the Maritime and Transportation industries, and holds a Master of Science degree from the Norwegian School of Economics and Business Administration.

Frontline announces the appointment of Mr. Steen Jakobsen as a Director of the Company.

Steen Jakobsen has served as a director of Flex LNG Ltd. since March 2021. Mr. Jakobsen joined Saxo Bank in 2000 and serves as Chief Investment Officer. Mr. Jakobsen was the founder of then Saxo Bank’s renowned Outrageous Predictions. Prior to joining Saxo Bank, he worked with Swiss Bank Corp, Citibank, Chase Manhattan, UBS and served as Global Head of Trading, FX and Options at Christiania (now Nordea). Mr. Jakobsen graduated from the University of Copenhagen in 1989 with a MSc in Economics.

The Board of Directors
Frontline Ltd.
Hamilton, Bermuda
May 2, 2022

Questions should be directed to:

Lars H. Barstad, Chief Executive Officer, Frontline Management AS
Telephone: +47 23 11 40 84

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