Golden Ocean Group

Capital/Financing Update • Sep 29, 2014

GOGL - Notification

GOGL - Notification

Geveran Trading Company Ltd., a company indirectly

controlled by trusts affiliated with John Fredriksen

and his family, has on the 29th September 2014 bought

USD 10 million of the Golden Ocean Group LTD 3,07%

2019 covertible bond (GOGL02). Geveran Tradings's

total notional holding in the GOGL02 following this

transaction is $25m.

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.