Himalaya Shipping Ltd. (HSHP) Announces its Preliminary Results for the Three Months Ended March 31, 2026

Hamilton, Bermuda, May 21, 2026

Himalaya Shipping Ltd. (“Himalaya,” “Himalaya Shipping” or the “Company”) announces preliminary unaudited results for the three months ended March 31, 2026.

Highlights for the First Quarter of 2026

• Total operating revenues of $33.6 million, which is an average time charter equivalent (“TCE”) earnings of approximately $32,300 per day, gross^[1]. Average Baltic 5TC 180 Capesize Index was $22,902 per day.
• Net income of $5.0 million and EBITDA^[2] of $24.5 million.
• Entered into a new time charter agreement for the Mount Ita for a period of 11 to 14 months at an index-linked rate, reflecting a significant premium to the Baltic 5TC 180 Capesize index.
• Entered into a new time charter agreement for the Mount Matterhorn for a period of 12 to 14 months at an index-linked rate, reflecting a significant premium to the Baltic 5TC 180 Capesize index.
• Cash distributions of $0.06 per common share for each of January, February and March 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, increasing total ownership from 40% to 54%.

Subsequent Events

• Achieved TCE earnings for April 2026 of approximately $41,600 per day, gross.
• Declared a cash distribution of $0.15 per common share for April 2026.
• Entered into a new time charter agreement for the Mount Emai for a period of 12 to 14 months at an index-linked rate, reflecting a significant premium to the Baltic 5TC 180 Capesize index.

About Himalaya Shipping Ltd.

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

May 21, 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 measure 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.