Golden Ocean Group

Major Shareholding Notification • Jun 7, 2017

Notification

Notification

Hemen Holding Limited, which is indirectly controlledby

trusts established by

John Fredriksen for the benefit of his immediate family, has

settled a TRS agreement

(Total Return Swap) underlying 39.129 shares in Golden Ocean

Group Limited ("Golden Ocean")

expiring June 7th 2017. Hemen Holding Limited has

subsequently entered into a new TRS agreement with

exposure to the same number of underlying shares. New expiry

date is September 6th, 2017, and the new TRS

price is NOK 48,726 per share. Hemen Holding Limited's

affiliated ownership in Golden Ocean Group Limited

is after this 46.487.224 shares, equal to 37,12% of issued

shares and votes in the company. In addition,

Hemen Holding holds TRS agreements with underlying exposure

to 39.129 shares in Golden Ocean LTD

and USD 93,6 million in the Golden Ocean Group LTD 3,07%

2019 convertible bond (GOGL 02).