GOGL – Cancellation of Fractional Shares

April 8, 2015 – In connection with the previously announced closing of the merger between Knightsbridge Shipping Limited (now renamed Golden Ocean Group Limited) (the “Company”) and Golden Ocean Group Limited (“Old Golden Ocean”), the Company will today cancel 4,530 common shares, which account for the fractional shares that will not be distributed to the Old Golden Ocean shareholders as merger consideration. Also, as previously disclosed, the Company plans to distribute cash In lieu of the fractional shares to shareholders of Old Golden Ocean as of March 31, 2015, as registered in the shareholder register of Old Golden Ocean on April 7, 2015.

Following the cancellation of shares, the Company will have 172,675,650 common shares outstanding, with a par value of $ 0.01 per share.

April 8, 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.