GOGL – Cancellation of Fractional Shares

April 24, 2015 – Golden Ocean Group Limited (the “Company”) has cancelled 13 common shares, which are fractional shares that will not be distributed to certain shareholders in former Golden Ocean Group Limited (“Old Golden Ocean Group”) who had their shares listed on the Singapore Stock Exchange (the “SGX”) prior to the delisting of the shares in Old Golden Ocean Group on the SGX and the merger with the Company in March 2015.

Following the cancellation of shares, the Company has 172,675,637 common shares outstanding, with a par value of $ 0.01 per share.

April 24, 2015

Golden Ocean Group Limited

Hamilton, Bermuda

Matters discussed in this press release may constitute forward-looking statements.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. Words, such as, but not limited to “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions.  Although Golden Ocean believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of Golden Ocean, Golden Ocean cannot assure you that they, or the combined company resulting from the merger, will achieve or accomplish these expectations, beliefs or projections. The information set forth herein speaks only as of the date hereof, and Golden Ocean disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.