Golden Ocean Group Limited. (the "Company" or "Golden Ocean") (Nasdaq and OSE: GOGL) today announced that Ulrik Andersen, Chief Executive Officer of Golden Ocean Management AS, has decided to step down from his position. The Board has appointed Lars-Christian Svensen, Golden Ocean’s Chief Commercial Officer, to take the role as Interim Chief Executive Officer of Golden Ocean Management AS. Lars-Christian has a solid background within the industry and a profound understanding of the Company and its organization. The Board is confident that this new appointment will ensure a successful and seamless transition of the role. Mr. Andersen will be available for the company till September 1^st, 2023.

"I would like to thank Ulrik for his contribution to Golden Ocean. He has led the Company through a period of fleet growth and fleet renewal. I wish Ulrik success in his future endeavours," said Ola Lorentzon, Chairman of Golden Ocean.

Ulrik Andersen commented: "I would like to express my gratitude to the Board of Golden Ocean for the opportunity to lead the Company during a transformative period that encompassed significant fleet growth and required navigating a challenging and volatile macroeconomic landscape.

I'm proud of the accomplishments achieved during my tenure, and I am confident that the Golden Ocean is well-positioned for future success.

I extend my best wishes to the Company as it embarks on the next chapter”.

June 1^st, 2023

The Board of Directors
Golden Ocean Group Limited.
Hamilton, Bermuda

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