Golden Ocean Group

Board/Management Information • Apr 7, 2020

GOGL - Appointment of CEO

GOGL - Appointment of CEO

The Board of Golden Ocean Group Limited ("Golden Ocean" or the "Company") is

pleased to announce the appointment of Ulrik Uhrenfeldt Andersen as the new

Chief Executive Officer of Golden Ocean Management AS with effect from Tuesday

April 14, 2020.

Mr Andersen comes from a position as Chief Executive Officer of Avance Gas AS

and previously worked as Head of Shipping for Petredec, Managing Director for

Neu Gas Shipping and Head of the Maersk VLGC Pool.

Ola Lorentzon, Chairman of the Board, says: "The Board is delighted to have

appointed Ulrik Andersen, who has demonstrated strong management skills and

strategic insight in his previous job as CEO of Avance Gas. We are confident

Ulrik will move the Company forward and capitalise on the opportunities that lie

ahead. On behalf of the Board, I welcome Ulrik to Golden Ocean and look forward

to working with him."

On being appointed, the incoming CEO stated: "I am excited to be joining Golden

Ocean and look forward to working with the strong organisation to drive the

business forward in the years to come. Strong foundations have already been laid

and I welcome the opportunity to build on these and to explore new opportunities

for growth and consolidation."

About the Company

Golden Ocean is a leading international dry bulk shipping company founded in

1996 and based in Bermuda. Golden Ocean is mainly operating in the Capesize,

Panamax and Supramax segments and the Company is listed on NASDAQ and the Oslo

Stock Exchange. The Company owns and controls a fleet of 79 vessels.

April 7, 2020

The Board of Directors

Golden Ocean Group Ltd.

Hamilton, Bermuda

For further queries, please contact:

Per Heiberg: Chief Financial Officer, Golden Ocean Management AS

+47 22 01 73 45

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act