Golden Ocean Group - Director's Dealing 2015

CORR* - GOLDEN OCEAN GROUP LIMITED - DISCLOSURE OF TRADE

Franklin Enterprises Inc. ("Franklin"), a company

indirectly controlled by trusts established by Mr.

John Fredriksen for the benefit of his immediate

family, has on 7 July 2015 acquired $6.2 million of

the Golden Ocean Group Limited ("Golden Ocean") 14/19

3.07% USD 200m Convertible Bond, at a purchase price

of 81¢/$1, and convertible into 311,088 shares in

Golden Ocean at an exercise price of $19.93 per share.

Following the acquisition, Franklin holds in aggregate

$81* million in the Convertible Bond, convertible into

4,064,224* shares in Golden Ocean, equalling

approximately 2.4* % of the shares and votes in the

company. Further, Hemen Holding Limited ("Hemen"),

which is indirectly controlled by trusts established

by Mr. John Fredriksen for the benefit of his

immediate family, holds 74,436,122 shares in Golden

Ocean, equalling approximately 43.12 % of the shares

and votes in the company. In addition, Hemen holds TRS

agreements with underlying exposure to 195,648 shares

in Golden Ocean. The expiry date of the TRS agreements

is 7 September 2015 and the TRS price is NOK 29.68 per

share. The foregoing calculations are made based on

172.6 million outstanding shares in Golden Ocean.

This announcement is made pursuant to section 4-2 of

the Norwegian Securities Trading Act.

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