Golden Ocean Group Limited

1 March 2021, Hamilton, Bermuda

Reference is made to the stock exchange release by Golden Ocean Group Limited (NASDAQ and OSE: GOGL) ("Golden Ocean" or the "Company") on 17 February 2021 regarding completion of the private placement of new shares in the Company (the "Private Placement").

The new shares have been legally and validly issued and fully paid, and the Company's issued share capital has been increased to USD 9,924.012.20, divided into 198,480,244 issued shares, each with a nominal value of USD 0.05.

The new shares are registered under a separate ISIN pending approval of a listing prospectus by the Financial Supervisory Authority of Norway, and will not be listed or tradable on the Oslo Stock Exchange until the listing prospectus is approved.

For further queries, please contact:

Ulrik Andersen: Chief Executive Officer, Golden Ocean Management AS

+47 22 01 73 53

Peder Simonsen: Chief Financial Officer, Golden Ocean Management AS

+47 22 01 73 45