Golden Ocean Group

Share Issue/Capital Change • Mar 15, 2016

GOGL - Final Result of Subsequent Offering

GOGL - Final Result of Subsequent Offering

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN,

OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

OR WOULD REQUIRE REGISTRATION OR OTHER MEASURES. THIS ANNOUNCEMENT DOES NOT

CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice dated March 14, 2016, regarding

the preliminary result of the subsequent offering by Golden Ocean Group Limited

(the "Company") of up to 34,368,400 new shares in the Company (the " Subsequent

Offering").

Based on received subscriptions at the expiry of the subscription period in the

Subsequent Offering, a total of 13,369,291 shares were allocated in accordance

with the allocation criteria set out in the prospectus dated February 23, 2016.

As a result, the Company will issue 13,369,291 new shares at NOK 5.00 per share

raising gross proceeds of NOK 66.8 million (or approximately USD 7.8 million).

The subscribers who were allocated new shares in the Subsequent Offering will

receive a letter with the number of allocated new shares and the corresponding

subscription amount to be paid by each subscriber. Payment for the allocated

shares falls due on March 16, 2016 in accordance with the payment procedures

described in the Company's prospectus dated February 23, 2016.

Subject to full payment being received, the new shares under the Subsequent

Offering are expected to be issued on or about March 18, 2016 and delivered to

the subscribers' VPS accounts on or about March 21, 2016.

The new shares issued in the Subsequent Offering are restricted shares in the

U.S., and are subject to a six month holding period during which they cannot be

traded in the U.S. The new shares will therefore be delivered and registered on

a separate ISIN BMG396371145 and listed on Oslo Børs only under a separate

trading symbol "GOGL R". During the second half of 2016, the new shares are

expected to be registered with the ordinary ISIN BMG396371061 of the Company and

thereafter commence to trade under the Company's ordinary trading symbol "GOGL"

and become freely tradable on both Oslo Børs and NASDAQ Global Select Market.

March 15, 2016

Hamilton, Bermuda

Golden Ocean Group Limited

***

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking

statements.  The Private Securities Litigation Reform Act of 1995 provides safe

harbor protections for forward-looking statements, which include statements

concerning plans, objectives, goals, strategies, future events or performance,

and underlying assumptions and other statements, which are other than statements

of historical facts. Words such as "believe," "anticipate," "intends,"

"estimate," "forecast," "project," "plan," "potential," "may," "should,"

"expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various

assumptions.  Although we believe that these assumptions were reasonable when

made, because these assumptions are inherently subject to significant

uncertainties and contingencies which are difficult or impossible to predict and

are beyond our control, we cannot assure you that we will achieve or accomplish

these expectations, beliefs or projections. The information set forth herein

speaks only as of the date hereof, and we disclaim any intention or obligation

to update any forward-looking statements as a result of developments occurring

after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein,

important factors that, in our view, could cause actual results to differ

materially from those discussed in the forward-looking statements include the

strength of world economies, fluctuations in currencies and interest rates,

general market conditions, including fluctuations in charter hire rates and

vessel values, changes in demand in the dry bulk market, changes in our

operating expenses, including bunker prices, drydocking and insurance costs, the

market for our  vessels, availability of financing and refinancing, changes in

governmental rules and regulations or actions taken by regulatory authorities,

potential liability from pending or future litigation, general domestic and

international political conditions, potential disruption of shipping routes due

to accidents, political events or acts by terrorists, and other important

factors described from time to time in the reports filed by the Company with the

Securities and Exchange Commission.

The information contained herein is subject to the disclosure requirements of

section 5-12 of the Norwegian Securities Trading Act.

[HUG#1994578]