GOGL – Key information in connection with reverse share split for GOGL and GOGL R

Reference is made to the previous stock exchange notices from Golden Ocean Group Limited (the “Company”) regarding the 5-to-1 reverse share split of the Company’s ordinary shares (the “Reverse Split”).

Upon effectiveness of the Reverse Split, every five shares of the Company’s issued and outstanding ordinary shares, par value USD 0.01 per share will be automatically combined into one issued and outstanding ordinary share, par value USD 0.05 per share. The following are key dates for the Reverse Split:

29 July 2016:                Last day including right. This is the last day the Company’s shares will trade on a before Reverse Split basis on the Oslo Stock Exchange.

1 August 2016:              Ex-date. The Company’s shares will trade on a Reverse Split basis and with new ISIN (see below) on the Oslo Stock Exchange from and including 1 August 2016.

2 August 2016:              VPS Record Date.

3 August 2016:              ISIN change in VPS effective.

The Company’s shares trading under the symbol “GOGL” will assume the new ISIN BMG396372051.

The Company’s shares trading under the symbol “GOGL R” will assume the new ISIN BMG396371301.

No fractional shares will be issued in connection with the Reverse Split. The Company will purchase fractional shares for cancellation for a cash payment equal to the closing price per share for the Company’s shares on NASDAQ at the last trading day prior to the effective date for the Reverse Split. The cash payment is expected to be made to eligible shareholders during the week starting 8 August 2016.

Following the Reverse Split, the number of outstanding shares in the Company will be reduced to a maximum of 105,945,786, subject to adjustment for fractional shares.

July 25, 2016

Hamilton, Bermuda

Golden Ocean Group Limited