Himalaya Shipping Ltd. (HSHP) Announces its Preliminary Results for the Three and Twelve Months Ended December 31, 2025

10 Feb 2026 08:00 CET

Hamilton, Bermuda, February 10, 2026

Himalaya Shipping Ltd. ("Himalaya," "Himalaya Shipping" or the "Company")
announces preliminary unaudited results for the three and twelve months ended
December 31, 2025.

Highlights for the Fourth Quarter of 2025

* Total operating revenues of $42.1 million, which is an average time charter
equivalent ("TCE") earnings of approximately $39,600 per day, gross[1].
Average Baltic 5TC Capesize Index was $28,875 per day.
* Net income of $13.5 million and EBITDA[2] of $33.3 million.
* Converted the index-linked time charters for four vessels to fixed rate time
charters at an average rate of approximately US$27,700 per day, gross, from
January 1, 2026 to March 31, 2026.
* Entered into a new time charter agreement for Mount Elbrus until June 30,
2026 at a fixed rate of $30,000 per day, gross, which thereafter will
convert to an index linked rate reflecting a significant premium to the
Baltic 5TC index with an evergreen structure.
* Entered into a new time charter agreement for Mount Ita for a period of 11
to 14 months at an index linked rate, reflecting a significant premium to
the Baltic 5TC index.
* Cash distributions of $0.07, $0.10 and $0.13 per common share for October,
November and December 2025, respectively.

Subsequent Events

* Achieved time charter equivalent earnings for January 2026 of approximately
$32,400 per day, gross.
* Declared a cash distribution of $0.06 per common share for January 2026.
* Entered into a contract to acquire an additional 4,200 shares in 2020
Bulkers Management AS from 2020 Bulkers Ltd. for NOK1.1 million, which will
be effective on April 1, 2026, for a total ownership of 54%.

About Himalaya Shipping Ltd.

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in
Bermuda. Himalaya Shipping has twelve vessels in operation.

February 10, 2026

The Board of Directors
Himalaya Shipping Ltd.
Hamilton, Bermuda

[1] The Company uses certain financial information calculated on a basis other
than in accordance with accounting principles generally accepted in the United
States (US GAAP) including average TCE earnings, gross and EBITDA. Average
daily TCE earnings, gross, as presented above, represents time charter
revenues and voyage charter revenues adding back address commissions and
divided by fleet operational days. Please refer to the appendix of this
release for a reconciliation of this non-GAAP measure to the most directly
comparable financial measures prepared in accordance with US GAAP.
[2] EBITDA as presented above represents our net income plus depreciation of
vessels and equipment; total financial expenses, net; and income tax expense.
Please refer to the appendix of this report for a reconciliation of this
non-GAAP financial measure to the most directly comparable financial measure
prepared in accordance with US GAAP.

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665238_Himalaya Shipping Ltd Q4 2025 Investor Presentation.pdf
665238_Himalaya Shipping Ltd Q4 2025 Results Press Release.pdf
665238_Himalaya Shipping Ltd Q4 2025 Interim Financial Statements.pdf