The pair were taken to Aberdeen Royal Infirmary with serious injuries.
The 60-year-old female driver of the VW Tiguan and the 45-year-old male driver of the Honda Accord, also involved in the collision, were not injured.
Road Policing Sergeant Kelly Manson said: “My thoughts, and that of my officers, are very much with the family and friends of Mrs Forbes who sadly died in this collision.
“I would appeal to anyone who may have seen the collision or who may have seen either vehicle shortly beforehand and who hasn’t yet spoken with police to do so as a matter of urgency to help us piece together exactly what happened.”
Anyone with information who hasn’t yet come forward should contact Police Scotland via 101 quoting incident number 1999 of the 7 March 2019.
Aberdeen woman, 89, dies after three-car crash on Haudagain Roundabout