Golden Ocean Group

Related Party Transaction • Sep 8, 2015

Notification

Notification

Hemen Holding Limited, a company indirectly

controlled by trusts affiliated with John Fredriksen

and his family, has settled a TRS agreement (Total

Return Swap) underlying 195.648 shares in Golden

Ocean Group Limited ("Golden Ocean") expiring

September 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 December 7th, 2015, and the new TRS

price is NOK 24,0396 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 93,6m

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

bond (GOGL 02).