Frontline Ltd.: FRO - Fourth Quarter and Full Year 2020 Results Highlights Net income of $412.9 million or $2.09 per diluted share and adjusted net income of $421.6 million or $2.13 per diluted share for the year ended December 31, 2020, being the strongest yearly result since 2008 Net loss of $9.2 million, or $0.05 per diluted share for the fourth quarter of 2020 Adjusted net loss of $20.2 million, or $0.10 per diluted share for the fourth quarter of 2020 Reported total operating revenues of $174.9 million for the fourth quarter of 2020 Reported spot TCEs for VLCCs, Suezmax tankers and LR2 tankers in the fourth quarter of 2020 were $17,200, $9,800 and $12,500 per day, respectively For the first quarter of 2021, we estimate spot TCE on a load-to discharge basis of $22,600 contracted for 78% of vessel days for VLCCs, $17,800 contracted for 68% of vessel days for Suezmax tankers and $12,200 contracted for 65% of vessel days for LR2 tankers. We expect the spot TCEs for the full first quarter of 2021 to be lower than the TCEs currently contracted, due to the impact of ballast days at the end of the first quarter as well as current prevailing freight rates