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SCHEDULE 13D/A 0001604481 XXXXXXXX LIVE 1 Common Shares, par value $0.05 per share 03/25/2025 false 0001029145 G39637205 Golden Ocean Group Limited Par-la-Ville Place 14 Par-la-Ville Road Hamilton D0 HM 08 Ludovic Saverys 32-3-247-59-11 CMB.TECH NV De Gerlachekaai 20 Antwerp C9 2000 Keith J. Billotti 212-574-1200 Seward & Kissel LLP One Battery Park Plaza New York NY 10004 Y CMB.TECH Bermuda Ltd. AF N D0 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 CO *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. 0001604481 N CMB.TECH NV OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 CO *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Y Compagnie Maritime Belge NV OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 CO *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Y Saverco NV OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 CO *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Y Alexander Saverys OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 IN *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Y Ludovic Saverys OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 IN *The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Y Michael Saverys OO N C9 0.00 88711007.00 0.00 88711007.00 88711007.00 N 44.5 IN * The reported percentage is based on 199,403,293 common shares of the Issuer outstanding as of March 20, 2025 as reported by the Issuer in its Form 20-F filed on March 20, 2025. Common Shares, par value $0.05 per share Golden Ocean Group Limited Par-la-Ville Place 14 Par-la-Ville Road Hamilton D0 HM 08 This Amendment No. 1 ("Amendment No. 1") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on March 11, 2025 (as amended, the "Schedule 13D") by (i) CMB.TECH Bermuda Ltd. ("CMBT Subsidiary"), (ii) CMB.TECH NV ("CMBT"), (iii) Compagnie Maritime Belge NV ("CMB"), (iv) Saverco NV ("Saverco"), (v) Alexander Saverys, (vi) Ludovic Saverys, and (vii) Michael Saverys (the foregoing corporations and individuals are collectively referred to herein as the "Reporting Persons") with respect to the common shares, par value $0.05 per share (the "Shares") of Golden Ocean Group Limited (the "Issuer"). The information set forth in Item 3 of the Schedule 13D is hereby amended and supplemented by adding the following information thereto: Since the date of the filing of the Schedule 13D, CMBT Subsidiary purchased an aggregate of 7,347,277 additional Shares in the open market for an aggregate purchase price of approximately USD $58.65 million (exclusive of fees and expenses). The information set forth in Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information thereto: The information included in Item 3 of this Amendment No. 1 is hereby incorporated by reference into this Item 4. On March 21, 2025, the Issuer announced the appointment by the Issuer's board of directors (the "Board") of Mr. Patrick De Brabandere and Mr. Patrick Molis as directors of the Board, and that Messrs. Ola Lorentzon, John Fredriksen, Ben Mills and Cato Stonex, in conjunction with the foregoing appointments, stepped down from their positions as directors of the Issuer. Messrs. De Brabandere and Molis also serve as directors on CMBT's Supervisory Board, and Mr. De Brabandere is also a director of CMB. Other than as set forth in this Amendment No. 1 and the Schedule 13D, the Reporting Persons do not have any plans or proposals as of the date of this filing which relate to or would result in any of the actions enumerated in Item 4 of the instructions to Schedule 13D. Item 5(a)-(e) of the Schedule 13D are hereby amended and restated as follows: According to information provided in the Issuer's Annual Report on Form 20-F filed on March 20, 2025, the Issuer had 199,403,293 Shares issued and outstanding as of March 20, 2025. Based on the foregoing, as of the date of this filing the Reporting Persons may be deemed the beneficial owners of 88,711,007 Shares, representing approximately 44.5% of the Issuer's issued and outstanding Shares. As of the date of this filing the Reporting Persons may be deemed to have the shared power to vote and dispose of 88,711,007 Shares. To the best of the Reporting Persons' knowledge, the transactions in the Shares effected by the Reporting Persons during the past 60 days and not previously reported are set forth on Exhibit A-1 to this Amendment No. 1 to the Schedule 13D. No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Shares beneficially owned by the Reporting Persons. Not applicable. The information set forth in Item 6 of the Schedule 13D is hereby amended and supplemented by adding the following information thereto: The information included in Item 3 and Item 4 of this Amendment No. 1 is hereby incorporated by reference into this Item 6. Exhibit A-1: Transactions Effected in the Past 60 Days Pursuant to Item 5(c). CMB.TECH Bermuda Ltd. /s/ Ludovic Saverys Ludovic Saverys, Director 03/27/2025 CMB.TECH NV /s/ Ludovic Saverys Ludovic Saverys, Chief Financial Officer 03/27/2025 Compagnie Maritime Belge NV /s/ Ludovic Saverys Ludovic Saverys, Chief Financial Officer 03/27/2025 Saverco NV /s/ Ludovic Saverys Ludovic Saverys, Director 03/27/2025 Alexander Saverys /s/ Alexander Saverys Alexander Saverys 03/27/2025 Ludovic Saverys /s/ Ludovic Saverys Ludovic Saverys 03/27/2025 Michael Saverys /s/ Michael Saverys Michael Saverys 03/27/2025