Himalaya Shipping Ltd. (HSHP) Commercial Update and Key Information Relating to the Cash Distribution for May 2026

09 Jun 2026 08:00 CEST

Hamilton, Bermuda, June 9, 2026

Commercial update:

In May 2026, Himalaya Shipping Ltd. ("Himalaya," or the "Company") achieved
average time charter equivalent ("TCE") earnings of approximately US$57,200
per day, gross[1], including average daily scrubber benefits of approximately
US$1,300 per day. The Company's eleven vessels trading on index-linked time
charters earned approximately US$59,600 per day, gross, including average
daily scrubber benefits. The Company's one vessel trading on a fixed time
charter earned approximately US$30,300 per day, gross. The reported earnings
for one of our vessels for a specific month is, due to terms under its
existing index-linked time charter contract, primarily based on Capesize index
rates for the previous month plus a premium. This means that the reported
earnings for May for this vessel is primarily based on the Capesize index
rates for April plus a premium.

The Baltic 5TC 180 Capesize Index averaged US$42,475 during May 2026.

Cash distribution:

The Board has approved a cash distribution of US$0.22 per share for May 2026.
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$0.22 per share

Declared currency: US$. Distributions payable to shares registered with
Euronext VPS will be paid out in NOK with fixing date on June 26, 2026.

Date of approval: June 8, 2026

Record date: June 22, 2026

Payment date: On or about June 26, 2026.

The following dates apply to shares traded on Euronext:

Last day including right: June 18, 2026

Ex-date: June 19, 2026

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 June 30, 2026.

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: June 18, 2026

Ex-date: June 22, 2026

This information is published in accordance with the requirements of the
Continuing Obligations.

For further queries, please contact:
Lars-Christian Svensen, Contracted CEO
Telephone +47476 38756

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, 2025 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 ended | |
| except per day data) | May 31, 2026 | |
+----------------------------------+--------------------------------+--------+
| Time charter revenues | $ | 20.5 |
+----------------------------------+--------------------------------+--------+
| Address commission | $ | 0.8 |
+----------------------------------+--------------------------------+--------+
| Operating revenues, gross | $ | 21.3 |
+----------------------------------+--------------------------------+--------+
| | | |
| | | |
+----------------------------------+--------------------------------+--------+
| Fleet operational days | | 372 |
| | | |
+----------------------------------+--------------------------------+--------+
| Average TCE Earnings, gross | $ | 57,200 |
+----------------------------------+--------------------------------+--------+

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