Golden Ocean Group

GOLDEN OCEAN GROUP LIMITED - DISCLOSURE OF TRADE

Reference is made to the stock exchange notice dated October

17, 2017, where Golden Ocean Group Limited (NASDAQ and OSE:

GOGL) (the "Company") announced that it had completed a USD

66 million equity offering for issue of new common shares in

the Company. Upon completion of the offering, Hemen Holding

Limited ("Hemen"), which is indirectly controlled by trusts

established by Mr John Fredriksen for the benefit of his

immediate family, together with certain of its affiliates,

will own an unchanged 45,326,353 shares in the Company,

equaling approximately 32.3 per cent of the Company's common

shares and votes. Further, upon completion of the vessel

purchase transaction the Company announced on October 16,

2017, Hemen will receive 4,000,000 new common shares in the

Company and as a result own an aggregate of 49,326,353

common shares in the Company, equaling approximately 34.2

per cent of the Company's common shares and votes. In

addition, Hemen holds TRS agreements with underlying

exposure to 4,500,000 shares in the Company. The expiry date

of the TRS agreements is December 6, 2017 and the TRS price

is NOK 73.81 per share. Further, Hemen holds in aggregate

USD 124.4 million in the Golden Ocean 14/19 3.07% USD 200m

Convertible Bond, convertible into 1,411,230 shares in the

Company, equaling approximately 1.0 per cent of the shares

and votes in the Company.

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