Himalaya Shipping

Notice of Dividend Amount • Sep 6, 2024

Himalaya Shipping Ltd. (HSHP) - Commercial Update and Key Information Relating to the Cash Distribution for August 2024

Himalaya Shipping Ltd. (HSHP) - Commercial Update and Key Information Relating to the Cash Distribution for August 2024

Hamilton, Bermuda, September 6, 2024

Commercial update:

In August 2024, Himalaya Shipping Ltd. ("Himalaya," or the "Company") achieved

average time charter equivalent ("TCE") earnings of approximately US$33,500 per

day, gross[1], including average daily scrubber and LNG benefits on eleven

vessels of approximately US$1,600 per day. The Company's two vessels trading on

fixed time charters earned approximately US$36,500 per day, gross, including

average daily scrubber and LNG benefits on one vessel. The Company's ten vessels

trading on index-linked time charters earned approximately US$32,800 per day,

gross, including average daily scrubber and LNG benefits.

The Baltic 5TC Capesize Index averaged US$21,714 during August 2024.

The Company has agreed to convert the index linked charters to fixed charter

rates for Mount Blanc, Mount Neblina and Mount Hua from September 1, 2024 to

September 30, 2024 at an average rate of US$35,727 per day plus scrubber premium

according to the terms of their existing time charter agreements.

The Company will have the following average rates fixed for vessels that were

previously on index linked charters:

September 2024:                       4 vessels at US$36,998 per day, gross

October to December 2024:       1 vessel at US$40,810 per day, gross

These vessels will continue to earn scrubber premium according to the terms of

their existing time charter agreements.

Cash distribution:

The Board has approved a cash distribution of US$0.07 per share for August 2024.

The distribution will be made from the Company's Contributed Surplus account.

Note to shareholders registered in Euronext VPS, the Norwegian Central Security

Depository:

Due to implementation of the Central Securities Depository Regulation (CSDR) in

Norway, please note the information regarding the payment date for the shares

registered in Euronext VPS below.

Key information:

Distribution amount: US$0.07 per share

Declared currency: US$. Distributions payable to shares registered with Euronext

VPS will be paid out in NOK with fixing date on September 30, 2024.

Date of approval: September 5, 2024

Record date: September 17, 2024

Payment date: On or about September 30, 2024.

Due to the shortening of the Settlement Cycle in the US markets, the following

dates apply to shares traded in the New York Stock Exchange:

Last day including right: September 16, 2024

Ex-date: September 17, 2024

The following dates apply to shares traded on Euronext:

Last day including right: September 13, 2024

Ex-date: September 16, 2024

Due to the implementation of CSDR in Norway, distributions payable on shares

registered with Euronext VPS is expected to be distributed to Euronext VPS

shareholders on or about October 3, 2024.

This information is published in accordance with the requirements of the

Continuing Obligations.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47918 31590

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in

Bermuda. Himalaya Shipping has twelve vessels in operation.

Forward Looking Statements:

This announcement includes forward looking statements within the meaning of the

Private Securities Litigation Reform Act of 1995. These statements include non

-historical statements. These forward-looking statements are based on current

expectations or beliefs, and are subject to uncertainty and changes in

circumstances. These forward-looking statements are subject to a number of risks

and uncertainties, which could cause the actual results to differ materially

from those indicated in such forward-looking statements. Such risks are set

forth under "Item 3. Key Information - D. Risk Factors" in our Annual Report on

Form 20-F for the year ended December 31, 2023 filed with the U.S. Securities

and Exchange Commission.  Except as required by law, we undertake no obligation

to update these forward-looking statements, whether as a result of new

information, future events, or otherwise.

[1]Average TCE earnings is a non-U.S. GAAP measure of the average daily revenue

performance of a vessel. Average TCE earnings, gross, when used by the Company,

means time charter revenues and voyage charter revenues adding back address

commissions, and divided by fleet operational days. Our management believes

average TCE earnings can provide additional meaningful information for investors

to analyze our fleets' daily income performance.  Our calculation of such figure

may not be comparable to that reported by other companies. Please see Appendix A

for reconciliation of this measure to the nearest U.S. GAAP measure.

Appendix A - Reconciliation of Non-U.S. GAAP Measures

Time Charter Equivalent ('TCE") Earnings, gross

The following table sets forth a reconciliation of time charter revenues to the

average TCE earnings, gross (unaudited) for the period presented:

(In millions of U.S. For the one-month period ended August 31, 2024

dollars except per day

data)

Time charter revenues $ 12.0

Address commission $   0.4

Operating revenues, $ 12.4

gross

Fleet operational days 372

Average TCE Earnings, $ 33,500

gross