Golden Ocean Group

GOGL - Notice of resignation from the CEO

Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or the

"Company") today announced that Ms. Birgitte Ringstad Vartdal, CEO of Golden

Ocean Management AS, has submitted her notice of resignation. Ms. Vartdal has

held the position as CEO since April 2016, and before that served as CFO since

June 2010.

The Company has appointed Ola Lorentzon, the Chairman of the Board of Golden

Ocean, as interim CEO and will initiate the search for a new CEO immediately.

Ms. Vartdal will step down as a CEO on November 30, 2019 and will remain

available to the Company until the end of February 2020.

Ms. Vartdal commented: "I have had 10 fantastic years with Golden Ocean and am

pleased with the development of the Company during this period. The Company is

now in a solid financial position, just delivered its best quarterly result

since 2013 and is well prepared ahead of IMO 2020. I am proud of what all our

dedicated and knowledgeable colleagues have created, and I am confident that

Golden Ocean has a bright future"

Mr. Lorentzon commented: "I would like to thank Birgitte for her efforts

throughout the last 10 years, first as CFO and then as the CEO since 2016.

Birgitte has had an important role in the management and development of the

Company. I wish Birgitte all the best for the future. "

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

November 21, 2019

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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