Golden Ocean Group — Capital/Financing Update 2016

Aug 3, 2016

GOGL - ISIN: NO 001 070105.5 - 3.07 per cent Golden Ocean Group Limited Senior Unsecured Convertible Bond Issue 2014/2019 (the "Convertible Bond")

GOGL - ISIN: NO 001 070105.5 - 3.07 per cent Golden Ocean Group Limited Senior Unsecured Convertible Bond Issue 2014/2019 (the "Convertible Bond")

Reference is made to previous stock exchange notices from Golden Ocean Group

Limited (the "Company") regarding the 5-to-1 reverse share split of the

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

the Conversion Price in the Convertible Bond is adjusted in accordance with

clause 14.1 of the Bond Agreement from US$ 17.63 to US$ 88.15 per share

effective from August 1, 2016.

August 3, 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#2032920]