Golden Ocean Group

Share Issue/Capital Change • Jul 14, 2016

GOGL - Reverse share split

GOGL - Reverse share split

Golden Ocean Group Limited (the "Company"), hereby announces that the Board of

Directors has resolved to carry out a 5-to-1 reverse share split of the

Company's ordinary shares (the "Reverse Split").

Upon effectiveness of the Reverse Split, every five shares of the Company's

issued and outstanding ordinary shares par value USD 0.01 per share will be

automatically combined into one issued and outstanding ordinary share par value

USD 0.05 per share. This will reduce the number of outstanding common shares

from 529,728,928 to a maximum of 105,945,786 (depending on fractions). The

effective date for the reverse share split, which means the first date the

shares will be traded on a reverse share split basis on NASDAQ and the OSE, will

be August 1, 2016.

No fractional shares will be issued in connection with the Reverse Split. The

Company will purchase fractional shares for cancellation for a cash payment

equal to the closing price per share for the Company's shares on the NASDAQ at

the last trading day prior to the effective date for the reverse share split.

July 14, 2016

Hamilton, Bermuda

Golden Ocean Group Limited

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#2028787]