Himalaya Shipping

Notice of Dividend Amount • Feb 11, 2025

Himalaya Shipping Ltd. (HSHP) Commercial Update and Key Information Relating to the Cash Distribution for January 2025

Himalaya Shipping Ltd. (HSHP) Commercial Update and Key Information Relating to the Cash Distribution for January 2025

Hamilton, Bermuda, February 11, 2025

Commercial update:

In January 2025, Himalaya Shipping Ltd. ("Himalaya," or the "Company")

achieved average time charter equivalent ("TCE") earnings of approximately

US$17,900 per day, gross[1], including average daily scrubber and LNG benefits

on eleven vessels of approximately US$2,100 per day. The Company's one vessel

trading on a fixed time charter earned approximately US$30,000 per day, gross.

The Company's eleven vessels trading on index-linked time charters earned

approximately US$16,700 per day, gross, including average daily scrubber and

LNG benefits.

The Baltic 5TC Capesize Index averaged US$10,150 during January 2025.

The Company has entered into a new time charter agreement for the Mount

Norefjell. The vessel will commence a 14 to 38 month time charter, following

the planned redelivery from its current charterer in late February 2025. The

vessel will earn an index linked rate, reflecting a premium to the Baltic 5TC

index that is higher than the average premium on our current charters of

42.25%. The time charter also includes a profit sharing of any economic

benefit derived from operating the vessel's scrubber or running on LNG, as

well as certain rights to convert the time charter to fixed rates based on the

prevailing FFA curve from time to time.

Following this, the Company will have 12 vessels trading on index-linked time

charters.

Cash distribution:

The Board has approved a cash distribution of US$0.005 per share for January

2025. 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$0.005 per share

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

Euronext VPS will be paid out in NOK with fixing date on March 5, 2025.

Date of approval: February 10, 2025

Record date: February 21, 2025

Payment date: On or about March 5, 2025.

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: February 20, 2025

Ex-date: February 21, 2025

The following dates apply to shares traded on Euronext:

Last day including right: February 19, 2025

Ex-date: February 20, 2025

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 March 10, 2025.

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, gross 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, gross 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. dollars | For the one-month period | |

| except per day data) | endedJanuary 31, 2025 | |

+---------------------------------+---------------------------------+--------+

| Time charter revenues | $ | 6.4 |

+---------------------------------+---------------------------------+--------+

| Address commission | $ | 0.2 |

+---------------------------------+---------------------------------+--------+

| Operating revenues, gross | $ | 6.6 |

+---------------------------------+---------------------------------+--------+

| | | |

| | | |

+---------------------------------+---------------------------------+--------+

| Fleet operational days | | 372 |

| | | |

+---------------------------------+---------------------------------+--------+

| Average TCE Earnings, gross | $ | 17,900 |

+---------------------------------+---------------------------------+--------+