Golden Ocean Group

Major Shareholding Notification • Dec 8, 2015

Notification

Notification

Hemen Holding Limited, which is indirectly

controlled by trusts established by John Fredriksen

for the benefit of his immediate family, has settled

a TRS agreement (TotalReturn Swap) underlying 195.648

shares in Golden Ocean Group Limited ("Golden Ocean")

expiring December 7th 2015. Hemen Holding Limited has

subsequently entered into a new TRS agreement with

exposure to the same number of underlying shares. New

expiry date is June 3rd, 2016, and the new TRS

price is NOK 11,375 per share.

Hemen Holding Limited's affiliated ownership in

Golden Ocean Group Limited is after this 74.436.122

shares, equal to 43,12%.

In addition, Hemen Holding holds TRS agreements with

underlying exposure to 195.648 shares in Golden

ocean LTD.

Franklin Enterprises Inc , a company indirectly

controlled by trusts Affiliated with John Fredriksen

and his family, has a holding of usd 93,6 million

In the Golden Ocean Group LTD 3,07% 2019 convertible

bond (GOGL 02).