Golden Ocean Group Limited (Nasdaq: GOGL & OSE: GOGL) ("GOGL" or "the Company") is pleased to announce the appointment of Mr. Carl Erik Steen and Mr. James Ayers as Directors of the Company.

Carl Erik Steen has extensive experience from shipping and banking, including head of shipping, oil services and the international division in Nordea bank. Before joining Nordea, Mr. Steen headed the shipping and international division in Christiania Bank and Kreditkassen ASA. Mr. Steen graduated in 1975 from ETH Zurich Switzerland with a MSc in Industrial and Management Engineering. Mr. Steen holds directorship positions in various Norwegian and international companies including Golar LNG Ltd, Himalaya Shipping Ltd and Wilhelm Wilhelmsen Holding ASA, where he is the Chairman.

James Ayers has held the position of Secretary of the Company since 2018. Mr. Ayers has been the CEO of Front Ocean Management Ltd. since 2021 and was previously the Head of Corporate Administration at Frontline Ltd., where he served from 2018. Over the past decade, Mr. Ayers has held various director, company officer and management positions across the maritime and offshore energy sectors. Since 2019, Mr. Ayers has served as Director of Oslo-listed companies Paratus Energy Services Ltd. and Northern Ocean Ltd. Before relocating to Bermuda in 2015, when he joined Appleby law firm's corporate services division, Mr. Ayers held management and corporate secretary positions within the finance sector in the UK. Mr. Ayers holds a Master's degree in International Business and Commercial Law (LLM), a Bachelor's degree in Law (LLB) and a professional qualification in Legal Practice (LPC).

The Board of Directors

Golden Ocean Group Limited

Hamilton, Bermuda

March 28, 2025

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

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