Golden Ocean Group

GOLDEN OCEAN GROUP LIMITED - DISCLOSURE OF TRADE

Hemen Holding Limited, a company indirectly controlled by

trusts established by Mr. John Fredriksen for the benefit of

his immediate family ("Hemen"), has on 29 August 2017

acquired $20.0 million of the Golden Ocean Group Limited

("Golden Ocean") 14/19 3.07% USD 200m Convertible Bond, at a

purchase price of 94.55¢/$1, and convertible into 226,886

shares in Golden Ocean at an exercise price of $88.15 per

share. Following the acquisition, Hemen holds in aggregate

$113.6 million in the Convertible Bond, convertible into

1,288,712 shares in Golden Ocean, equaling approximately

1.0% of the shares and votes in the company. Further, Hemen

holds 49,787,224 shares in Golden Ocean, equaling

approximately 37.6 % of the shares and votes in the company.

In addition, Hemen holds TRS agreements with underlying

exposure to 39,129 shares in Golden Ocean. The expiry date

of the TRS agreements is 6 September 2017 and the TRS price

is NOK 48.726 per share. The foregoing calculations are made

based on 132.37 million outstanding shares in Golden Ocean.

This announcement is made pursuant to section 4-2 of the

Norwegian Securities Trading Act.

AI Terminal