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Golden Ocean Group

Major Shareholding Notification • Mar 22, 2019

6243_dirs_2019-03-22_ffc92caa-c01d-4baa-b4d2-9efd7a26d481.html

Major Shareholding Notification

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DISCLOSURE OF TRADE

Hemen Holding Limited ("Hemen"), a company indirectly controlled by trusts established by Mr. John Fredriksen for the benefit of his immediate family, has on 22 March 2019 acquired 50,000 shares in Golden Ocean Group Limited ("Golden Ocean") at a purchase price of NOK 45.022 per share. Following the acquisition, Hemen will own 49,376,353 shares in Golden Ocean which will constitute 34.22% of the shares and votes in Golden Ocean.

In addition, Hemen holds TRS agreements with underlying exposure to 4,705,000 shares in Golden Ocean. The expiry date of the TRS agreements is 6th June 2019 and the TRS price is NOK 43.4873 per share.

The foregoing calculations are based on 144,272,697 outstanding shares in Golden Ocean. This information is subject to the disclosure requirements set out in sections 4-2 of the Norwegian Securities Trading Act.