Golden Ocean Group

Regulatory Filings • Mar 6, 2018

Notification

Notification

Hemen Holding Limited, which is indirectly controlled by

trusts established by John Fredriksen for the benefit

of his immediate family, has settled a TRS agreement

(Total Return Swap) underlying 4,500,000 shares in Golden Ocean Group Limited ("Golden Ocean")expiring March 6th 2018. Hemen Holding Limited has subsequently entered into a new TRS agreement with exposure to the same number of underlying shares. New expiry date is June 6th, 2018, and the new TRS price is NOK 72.0034 per share. Hemen Holding Limited's affiliated ownership in Golden Ocean Group Limited is after this unchanged 49,326,353 shares, equal to 34.2% of issued shares and votes in the company. In addition, Hemen Holding holds TRS agreements with underlying exposure to 4,500,000 shares in Golden Ocean Ltd. Further, Hemen Holding holds in aggregate USD 124.4 million in the Golden Ocean 14/19 3.07% USD 200m Convertible Bond, convertible into 1,426,769 shares in the Company, equaling approximately 1.0% of the shares and votes in the Company.