Golden Ocean Group Limited (“Golden Ocean” or the “Company”) hereby announces that 700,000 share options have been issued to senior management in accordance with the terms of the Company’s Share Option Scheme. The share options will have a five-year term and will vest equally one third over a three-year vesting period. The exercise price is USD 4.20. The exercise price will be adjusted for any distribution of dividends made before the relevant options are exercised.
The following primary insiders have been allocated options according to the above and they have the following number of shares and options in the Company:
| Primary Insider | New Share options | Total share options | Shareholdings |
| Birgitte Vartdal (CEO) | 225,000 | 236,000 | 11,300 |
| Thomas Semino (CCO) | 150,000 | 150,000 | 0 |
| Per Heiberg (CFO) | 100,000 | 105,638 | 3,000 |
November 11, 2016
The Board of Directors
Golden Ocean Group Limited
Hamilton, Bermuda
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.