Golden Ocean Group

Transaction in Own Shares • Dec 20, 2018

GOGL - Share buy-back program

GOGL - Share buy-back program

The Board of Directors of Golden Ocean Group Limited (the "Company") has on

December 19 2018 authorized a share buy-back program to purchase up to an

aggregate of 6 million of the Company's common shares. The maximum amount to be

paid per share is USD 9 or equivalent in NOK if bought at Oslo Stock Exchange.

The timing and amount of any repurchases will depend on legal requirements,

market conditions, stock price, alternative uses of capital and other factors.

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

its common shares. The buy-back program will be initiated today and end on

December 20, 2019.

December 20, 2018

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

For further information, please contact:

Birgitte Ringstad Vartdal: CEO, Golden Ocean Management AS

+47 22 01 73 53

Per Heiberg: CFO, Golden Ocean Management AS

+47 22 01 73 45

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements. The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements, which include statements

concerning plans, objectives, goals, strategies, future events or performance,

and underlying assumptions and other statements, which are other than statements

of historical facts. The Company desires to take advantage of the safe harbor

provisions of the Private Securities Litigation Reform Act of 1995 and is

including this cautionary statement in connection with this safe harbor

legislation. Words such as "believe", "anticipate", "intends", "estimate",

"forecast", "project", "plan", "potential", "may", "will", "should", "expect",

"pending" and similar expressions identify forward-looking statements. The

forward-looking statements in this press release are based upon various

assumptions.  Although we believe that these assumptions were reasonable when

made, because these assumptions are inherently subject to significant

uncertainties and contingencies which are difficult or impossible to predict and

are beyond our control, we cannot assure you that we will achieve or accomplish

these expectations, beliefs or projections. The information set forth herein

speaks only as of the date hereof, and we disclaim any intention or obligation

to update any forward-looking statements as a result of developments occurring

after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,

important factors that, in our view, could cause actual results to differ

materially from those discussed in the forward-looking statements include the

strength of world economies, fluctuations in currencies and interest rates,

general market conditions, including fluctuations in charter hire rates and

vessel values, changes in demand in the dry bulk market, changes in our

operating expenses, including bunker prices, drydocking and insurance costs, the

market for our  vessels, availability of financing and refinancing, changes in

governmental rules and regulations or actions taken by regulatory authorities,

potential liability from pending or future litigation, general domestic and

international political conditions, potential disruption of shipping routes due

to accidents, political events or acts by terrorists, and other important

factors described from time to time in the reports filed by the Company with the

U.S. Securities and Exchange Commission.

This information is subject to the disclosure requirements of section 5-12 of

the Norwegian Securities Trading Act.