Golden Ocean Group

Share Issue/Capital Change • Oct 4, 2022

GOGL - Share buy-back program

GOGL - Share buy-back program

The Board of Directors of Golden Ocean Group Limited (OSE/NASDAQ: GOGL) has on

October 4, 2022, authorized a share buy-back program of maximum USD 100 million

to purchase up to an aggregate of 10,000,000 of the Company's common shares for

a period up to 12 months, commencing October 4, 2022. The maximum amount to be

paid per share is USD 10.0, or equivalent in NOK for shares acquired at Oslo

Stock Exchange.

The share buy-backs will be carried out by way of repurchases in the market,

both on the Oslo Stock Exchange and on NASDAQ. The Company will report buy-backs

carried out continuously and in accordance with the disclosure requirements of

the Oslo Stock Exchange.

The Company is not obligated under the terms of the program to repurchase any of

its common shares. The timing and amount of any repurchase will depend on

alternative uses of capital, legal requirements, market conditions, stock price,

and other factors, in the discretion of the Board.

Ulrik Uhrenfeldt Andersen, Chief Executive Officer, comments:

«The uncertainty in the global economy has impacted capital markets and near-

term dry bulk freight sentiment. Following the recent share price development,

we find it in our shareholders' interest that the Company has the authorization

to repurchase our common stock as part of its capital allocation strategy. Given

the strength of our balance sheet and our constructive long-term market outlook,

the Board has decided to add the opportunity to allocate part of our financial

resources to pursue such share buyback. This plan reflects our confidence in the

market and our strategy to invest for long-term shareholder return».

October 4, 2022

Hamilton, Bermuda

For more info please contact:

Peder Simonsen, Chief Financial Officer of Golden Ocean Management AS.

Telephone +47 22 01 73 40

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and subject to the disclosure requirements pursuant to

section 5 -12 of the Norwegian Securities Trading Act.

Forward-looking statements: This release and any materials distributed in

connection with this release may contain certain forward-looking statements. By

their nature, forward-looking statements involve risk and uncertainty because

they reflect the Company's current expectations and assumptions as to future

events and circumstances that may not prove accurate. A number of material

factors could cause actual results and developments to differ materially from

those expressed or implied by these forward-looking statements.