Golden Ocean Group

Capital/Financing Update • Nov 26, 2014

Notification

Notification

Geveran Trading Company Ltd., a company indirectly

controlled by trusts affiliated with John Fredriksen

and his family, has on the 25th November 2014

acquired USD 25 million of the Golden Ocean Group LTD

3,07% 2019 covertible bond (GOGL02) at a price of

85.28.

Geveran Tradings's total notional holding in the

GOGL02 following this transaction is $50m.

In addition, Hemen Holding Limited, an affiliated

company, owns 183.666.158 shares equal to 41,06%

of the share capital in Golden Ocean LTD.

Hemen Holding also holds TRS agreements with

underlying exposure to 1.423.001 shares in Golden

Ocean LTD.