Golden Ocean Group

Major Shareholding Notification • Aug 15, 2017

Flagging - ownership decrease/increase in Golden Ocean Group Ltd

Flagging - ownership decrease/increase in Golden Ocean Group Ltd

Quintana Shipping Ltd and associated companies ("Quintana")

has sold or distributed a number of shares in Golden Ocean

Group Limited (NASDAQ and OSE: GOGL).

Following the sale or distribution Quintana and associated

companies owns 500,000 shares corresponding to 0,38% of the

outstanding 132,372,992 shares in Golden Ocean.

10,473,397 shares has been transferred to Riverstone

Quintana Shipping Holdco, LLC, which then holds shares

corresponding to 7,91% of the outstanding 132,372,992 shares

in Golden Ocean, in addition to the shares held by Quintana,

which is controlled by it. This amounts to a total

controlled shareholding of 10,973,397 shares corresponding

to 8,29% of the outstanding shares in Golden Ocean.