Golden Ocean Group

GOGL - Issuance of new shares under the Company's 2010 Equity Incentive Plan

Golden Ocean Group Limited (the "Company") advises that an aggregate of 19,954

common shares, par value US$0.05 per share, have been issued (the "Issuance") in

connection with the Company's 2010 Equity Incentive Plan (the "Plan") and the

restricted stock unit ("RSU") award agreements related to the Plan. As a result

of the Issuance, there are currently no outstanding awards under the Plan.

Included in the Issuance were 6,140 common shares issued to Mr. Ola Lorentzon,

director and chairman of the Company's board of directors (the "Board"), and

4,605 common shares issued to Mr. Hans Petter Aas, a director on the Board.

Following the Issuance, Mr. Lorentzon holds 16,877 common shares and Mr. Aas

holds 14,860 common shares of the Company, equal to approximately 0.016% and

0.014% of the Company's issued and outstanding common shares, respectively.

Additionally, Golden Ocean Group Management (Bermuda) Ltd., a wholly-owned

subsidiary of the Company, and ICB Shipping (Bermuda) Limited, a related party

to the Company, each surrendered and forfeited their right to receive the

outstanding RSUs awarded to each of them, including any vested RSUs that have

not been paid out and any related outstanding dividends payable in cash or stock

in respect of the forfeited RSUs.

Following the Issuance, the Company has 105,965,192 common shares outstanding,

each with a par value of US$ 0.05 and its share capital is US$5,298,260.

Hamilton, Bermuda

October 24, 2016

Questions should be directed to:

Birgitte Ringstad Vartdal: Chief Executive Officer, Golden Ocean Management AS

+47 22 01 73 53

Per Heiberg: Chief Financial Officer, Golden Ocean Management AS

+47 22 01 73 45

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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