Please find below a copy of the reponse letter sent by Frontline to the DHT Board: Dear Mr. Lind, We write in response to the 7 May 2017 letter from the Board of Directors (" Board ") of DHT Holdings, Inc. (" DHT ") regarding our 25 April 2017 letter proposing a business combination (" offer ") between DHT and Frontline Ltd. (" Frontline "). Although your letter claims that the DHT Board is "open to exploring alternatives" that could enhance DHT shareholder value, it is clear from your response and prior conduct that this is untrue. You have repeatedly refused to allow DHT shareholders a realistic opportunity to consider our offer, and that, combined with your use of legal mechanisms to entrench the Board and management of DHT, can in our view only harm shareholder value and confirm the market's persistent view that DHT's share price should be discounted relative to NAV.