Core Viewpoint - CMB.TECH NV has announced the acquisition of approximately 40.4% of Golden Ocean Group Limited's issued share capital through a share purchase agreement with Hemen Holding Limited, marking a significant step in its diversification strategy [1][2][3] Group 1: Acquisition Details - CMB.TECH will acquire 81,363,730 shares of Golden Ocean at a price of 14.49 USD per share, totaling approximately 1.18 billion USD [1] - The shares represent about 40.4% of Golden Ocean's issued share capital and approximately 40.8% of its outstanding shares with voting rights [1] - The transaction is expected to complete on 12 March 2025 and is not subject to any conditions [4] Group 2: Strategic Intent - The acquisition aligns with CMB.TECH's strategic objective of diversification, aiming to become a long-term shareholder in Golden Ocean and invest in a modern dry bulk fleet [2] - CEO Alexander Saverys emphasized the importance of this acquisition as a milestone in the company's diversification strategy and expressed intentions to engage with Golden Ocean's board and management for long-term growth [3] Group 3: Financial Considerations - CMB.TECH has identified a bank syndicate to refinance all or parts of Golden Ocean's current outstanding debt, indicating proactive financial management in light of the acquisition [4]

Golden Ocean Group Limited (NASDAQ:GOGL) Q4 2024 Earnings Conference Call February 26, 2025 9:00 AM ET Company Participants Peder Simonsen - Interim Chief Executive Officer and Chief Financial Officer Conference Call Participants Omar Nokta - Jefferies LLC Greg Lewis - BTIG Clement Mullins - Value Investor's Edge Operator Thank you, and good day, and thank you for standing by. Welcome to the Golden Ocean Group Limited Q4 2024 Earnings Conference Call and Webcast. At this time, all participants will be in li ...

Forward-looking statements Golden Ocean Results Q4 2024 February 26th, 2025 0 Matters discussed in this presentation may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995, or the PSLRA, provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and un ...

Group 1 - The presentation of Golden Ocean Group Limited's fourth quarter 2024 results will be held via webcast and conference call at 15:00 CET [1] - Participants must register online to attend the conference call, and dial-in details will be provided upon registration [1] - A Q&A session will follow the conference call/webcast, with instructions for submitting questions given at the start of the session [1] Group 2 - The presentation material for the teleconference/webcast can be downloaded from the company's website, and replay details will also be available there [2] - The information shared is subject to the disclosure requirements of the Norwegian Securities Trading Act [2]

Core Viewpoint - Golden Ocean Group Limited reported solid performance in Q4 2024 despite market fluctuations, highlighting strong commercial capabilities and a disciplined cost structure, particularly in the Capesize and Newcastlemax vessel segments [3]. Financial Performance - Net income for Q4 2024 was $39.0 million, with earnings per share of $0.20, down from $56.3 million and $0.28 in Q3 2024 [3]. - Full year 2024 net income reached $223.2 million, with earnings per share of $1.12, compared to $112.3 million and $0.56 in 2023 [3]. - Adjusted EBITDA for Q4 2024 was $69.9 million, a decrease from $124.4 million in Q3 2024 [3]. - Adjusted net income for Q4 2024 was $12.7 million, down from $66.7 million in Q3 2024 [3]. Operational Highlights - The company recorded $34.3 million in drydocking expenses in Q4 2024, related to 13 drydockings, compared to $9.7 million for five drydockings in Q3 2024 [3]. - Reported TCE rates for Capesize and Panamax vessels were $24,656 per day and $14,771 per day, respectively, with an overall fleet TCE rate of $20,809 per day in Q4 2024 [3]. - Estimated TCE rates for Q1 2025 are approximately $15,100 per day for 77% of Capesize available days and $9,900 per day for 81% of Panamax available days [3]. Strategic Actions - The company repurchased 625,000 shares at an aggregate price of $5.7 million, or $9.08 per share [3]. - A purchase option for eight vessels from SFL Corporation Limited was exercised for a total of $112 million, partially financed by a new $90 million credit facility [3]. - The sale of one Newcastlemax vessel and one Panamax vessel was finalized for a total net consideration of $56.8 million [3]. Dividend Announcement - A cash dividend of $0.15 per share for Q4 2024 was announced, payable on or about March 21, 2025, to shareholders of record on March 11, 2025 [3].

Financial Results Announcement - The Company will publish its financial results for the fourth quarter of 2024 on February 26, 2025 [1] - A conference call and webcast will be held on the same day at 3:00 P.M. CET (9:00 A.M. New York Time) [1] Accessing the Presentation - The presentation will be available for download from the Investor Relations section of the Company's website prior to the conference call/webcast [1] - Participants can listen to the presentation via webcast or conference call, with registration required for the latter [2] Q&A Session - A Q&A session will follow the conference call/webcast, with information on how to submit questions provided at the beginning of the session [2] Regulatory Compliance - The information is subject to the disclosure requirements of the Norwegian Securities Trading Act [3]

Group 1 - Golden Ocean Group Limited has appointed Ms. Tonesan Amissah as a Director of the Company [1] - Ms. Amissah has over 30 years of experience in international corporate law and is currently a Client Director at Ocorian Services (Bermuda) Limited [2] - She has a strong background in funds and investment services, having previously been a partner at Appleby (Bermuda) Limited [2] Group 2 - Ms. Amissah holds a law degree from the London School of Economics and qualified as a Barrister in 1988 [2] - She has been involved in various corporate governance roles and is a member of the Institute of Directors [2] - The announcement is in compliance with the disclosure requirements of the Norwegian Securities Trading Act [3]

Core Points - Golden Ocean Group Limited has declared purchase options for eight Capesize vessels under long-term charter-in agreements with SFL Corporation Ltd, with a total purchase price of $112 million [1] - The acquisition will be financed through a new $90 million revolving credit facility and cash on hand, with completion expected during Q3 2025 [1] Financial Details - The total purchase price for the vessels is $112 million [1] - A new revolving credit facility of $90 million will be utilized for financing the acquisition [1]

Personal Journey and Transformation - The individual transitioned from a research analyst role in Toronto to living in a yurt in the boreal forest, 100km from the nearest paved road or grocery store, emphasizing self-sufficiency and a spiritual journey [1] - The move was driven by a desire to replace dependency on urban conveniences with a connection to natural ecosystems and a higher purpose, leading to personal growth and a shift in perspective [1] - The individual views life as a call option, embracing elevated volatility to maximize personal value, drawing parallels to their experiences in both the city and the woods [1] Relationship with Financial Markets - Despite the dramatic change in lifestyle, the individual maintains a deep understanding of financial markets, particularly the importance of timing in maximizing the impact of actions [1] - The individual no longer compares investment returns to others or indices, focusing instead on personal growth and learning from direct experiences [1] Writing and Sharing Insights - Writing remains a crucial part of the individual's research process, and they aim to share their insights with the world, though they caution against taking their advice too seriously [1]

Core Viewpoint - Golden Ocean Group Limited has renewed its share buy-back program with a maximum budget of USD 100 million to repurchase up to 10,000,000 common shares over a 12-month period [1] Group 1: Share Buy-Back Program - The company has purchased 545,000 of its own common stocks between December 11, 2024, and December 17, 2024 [2] - Out of the total shares bought, 420,000 were acquired on the Oslo Stock Exchange at an average price of NOK 101.62 per share, while 125,000 shares were bought on Nasdaq at an average price of USD 9.21 per share [2] - Following these transactions, Golden Ocean Group owns a total of 1,707,328 shares, which represents 0.85% of the company's share capital [2][3]