Reference is made to the stock exchange notices published in connection with the offering (the "Offering") of 8,607,800 new shares (the "New Shares") in Golden Ocean Group Ltd. (NYSE/OSE: GOGL) (the "Company"). The New Shares have been validly issued, and the Company's issued share capital has been increased to USD 5,728,649.6 divided into 114,572,992 issued shares, each with a nominal value of USD 0.05.

The New Shares will be delivered to the subscribers in the Offering on March 17, 2017 and to be registered in the Norwegian Central Securities Depository (VPS) with the Company's ISIN BMG396372051 and commence to trade under the Company's trading symbol "GOGL" and become tradable on the Oslo Stock Exchange and NASDAQ on March 17, 2017.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The Offering is being made by means of an application agreement, a term sheet and a prospectus and related prospectus supplements which form a part of the Company's effective Registration Statement on Form F-3 (Registration No. 333-211365) that has previously been filed with the US Securities and Exchange Commission (the "SEC"). Copies of the offering documentation may be obtained by contacting DNB Markets at telephone: DNB Markets Inc. at 200 Park Ave, Floor 31, New York, NY 10166, telephone: +1 212 681 3800.

March 17, 2017Hamilton, Bermuda

The Board of DirectorsGolden Ocean Group Ltd.

Contact Persons: Birgitte Ringstad Vartdal: CEO, Golden Ocean Management AS +47 22 01 73 53

Per Heiberg: CFO, Golden Ocean Management AS +47 22 01 73 45

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Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements, which 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 "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 we believe 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 our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

In addition to these important factors and matters discussed elsewhere herein, important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter hire rates and vessel values, changes in demand in the dry bulk market, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our  vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents, political events or acts by terrorists, and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission.

This information is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act.