Limassol,   Cyprus,  March  4, 2025 -  Hemen  Holding  Limited  ("Hemen")  today
announced  that it  has entered  into an  agreement to sell 81,363,730 shares in
Golden  Ocean Group Limited (NASDAQ/OSE: GOGL) (the "Company" or "Golden Ocean")
to   CMB.TECH   (NYSE:   CMBT  &  Euronext:  CMBT)  ("CMB.TECH"),  for  a  total
consideration of approximately USD 1,179 million (the "Transaction"). The shares
represent  ca.  40.8%(1) of  Golden  Ocean's  outstanding  shares  and votes and
includes all Hemen's shares in the Company.

The  Transaction will not trigger  a mandatory takeover bid  or similar offer in
Bermuda,  Norway, the United States, or  any other jurisdiction. The Transaction
is exempt from registration under the U.S. Securities Act of 1933, as amended.

Christakis Theodoulou, Hemen, comments: "Hemen has been the driving force behind
the  development of Golden Ocean since  the spin-off from Frontline in 2004 with
subsequent  listing on the Oslo Stock Exchange and later through the merger with
Knightsbridge  on  NASDAQ.  Through  a  series  of  successful  acquisitions and
purchases  of new and secondhand vessels, Golden Ocean has since grown its fleet
from  3 to 91 vessels, creating one  of the largest listed  owners of large size
modern  drybulk  vessels,  while  at  the  same  time  returning  value  to  its
shareholders in the form of dividends. Golden Ocean has in total paid out USD ~2
billion of dividends since the spin-off from Frontline in 2004.

Hemen  is now pleased to  see that a renowned  drybulk owner and operator with a
rich  history such  as CMB.TECH  recognizes the  strength and  the value  of the
Golden  Ocean platform and  its employees and  has substantiated this through an
acquisition of our shares".

The  Transaction is not subject to any conditions, and completion is expected to
take place on 12 March 2025.

DNB  Markets, a part of DNB Bank ASA, has acted as a financial advisor to Hemen.
Advokatfirmaet Schjødt AS has acted as legal advisor to Hemen.

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(1) Excluding treasury shares