GOGL - Renewal of share buy-back program

02 Oct 2024 22:30 CEST

Reference is made to the announcement by the Board of Directors in Golden Ocean
Group Limited (OSE/NASDAQ: GOGL) dated 4 October 2022 and 3 October 2023
regarding the establishment and renewal of a share buy-back program. The Company
has repurchased a total of 1,507,328 shares under the program for a total
consideration of $11,629,758. A total of 741,900 shares have been repurchased at
average price of $7.84 per share at Nasdaq and 765,428 shares have been
repurchased at an average price of NOK 81.2 at Oslo Stock Exchange.

The Board of Directors of Golden Ocean Group Limited has on 2 October 2024,
resolved to extend the existing share buy-back program with a further 12 months
and the following main terms:

* Maximum USD 100 million to purchase up to an aggregate of 10,000,000 of the
Company's common shares, with 1,507,328 shares repurchased for USD
11,629,758 as of the date hereof.
* A period from and including 5 October 2024 to and including 4 October 2025.
* The share buy-backs will be carried out by way of repurchases in the market,
both on the Oslo Stock Exchange and on Nasdaq.

The Company will report buy-backs carried out continuously and in accordance
with the disclosure requirements of the Oslo Stock Exchange.

The Company is not obligated under the terms of the program to repurchase any of
its common shares. The timing and amount of any repurchase will depend on
alternative uses of capital, legal requirements, market conditions, stock price,
and other factors, in the discretion of the Board of Directors.

Peder Simonsen, Interim Chief Executive Officer and Chief Financial Officer,
comments:

"The sentiment in the capital markets and dry bulk freight is volatile and has
over the last year been impacted by uncertainty regarding global economic
outlook. As a result, GOGL share has in periods been trading at a discount to
underlying substance values, despite healthy freight markets. We continue to
believe that it is in the shareholders' interest to extend the authorization to
repurchase our common stock as part of its capital allocation strategy. We will
opportunistically utilize the extended program as a supplement to our long-term
focus on dividend."

2 October 2024
Hamilton, Bermuda


For more info please contact:
Peder Simonsen, Interim Chief Executive Officer and Chief Financial Officer of
Golden Ocean Management AS.
Telephone +47 22 01 73 40


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


Forward-looking statements: This release and any materials distributed in
connection with this release may contain certain forward-looking statements. By
their nature, forward-looking statements involve risk and uncertainty because
they reflect the Company's current expectations and assumptions as to future
events and circumstances that may not prove accurate. A number of material
factors could cause actual results and developments to differ materially from
those expressed or implied by these forward-looking statements.

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