Delivery of two dry bulk vessels

Hamilton, Bermuda - May 15, 2017

Reference is made to the stock exchange notice dated March 14, 2017 where Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or the "Company") announced that it has entered into agreements to acquire 16 modern dry bulk vessels in an all-share transaction where the Company will issue in aggregate 17.8 million consideration shares.

The Company is pleased to announce that it has taken delivery of additional two vessels, Q Myrtalia and Q Shea (to be renamed Golden Myrtalia and Golden Shea). Golden Ocean has issued 1.95 million consideration shares to Quintana Shipping Ltd. and associated companies in exchange for the two vessels. Following this transaction, the Company's issued share capital is USD 6,051,149.60 divided into 121,022,992 issued shares, each with a nominal value of USD 0.05.

Golden Ocean Group Limited press release