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Golden Ocean Group

Major Shareholding Notification • Jun 14, 2019

6243_dirs_2019-06-14_2edca934-5358-44bc-a42a-8322c09bd703.html

Major Shareholding Notification

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DISCLOSURE OF TRADE

Hemen Holding Limited, a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family ("Hemen"), has on June 14, 2019 entered into a Total Return Swap agreement ("TRS") for underlying 75.000 shares in Golden Ocean Group Limited ("Golden Ocean"), with expiration September 6, 2019. The TRS price on the TRS agreement is NOK 41.4545

Following the transactions, Hemen holds unchanged 49,376,353 shares in Golden Ocean, equaling approximately 34.2 % of the shares and votes in the company. In addition, Hemen holds TRS agreements with underlying exposure to an aggregate of 4,905,000 shares in Golden Ocean. The expiry date of the TRS agreements is September 6, 2019 and the average TRS price is NOK 40.551 per share.