Golden Ocean Group Limited

March 15, 2021 – Hamilton, Bermuda

Golden Ocean Group Limited Ltd ("GOGL" or "the Company") announces that Marius Hermansen has resigned as a Director of the Company.

Mr. Hermansen has served as a Director since September 2019.

The Board would like to thank Mr. Hermansen for his contribution and wishes him well in his future pursuits.

The Board is pleased to announce that Mr. Bjørn Tore Larsen will replace Mr. Hermansen.

Mr. Larsen is currently the Chairman of the OSM Maritime Group, a world-leading ship management company which he founded in 1989. Mr. Larsen is also the Chairman of ADS Maritime Holdings Plc a shipping investment company established in 2018 and listed on the Euronext Growth Oslo Stock Exchange. Mr. Larsen also chairs OSM Aviation, a service provider to the airline industry launched in 2013.

For further information, please contact:

Ulrik Uhrenfeldt Andersen, CEO of Golden Ocean Management AS

Telephone: +47 22 01 73 53

This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.