Himalaya Shipping Ltd. (HSHIP) – Grant of share options

Hamilton, Bermuda, March 11, 2022

In September 2021, the Board established a long-term incentive plan for the Group’s directors and other key human resources (the “LTI Plan”) and has approved a set of general rules for the LTI Plan. Furthermore, the Board has allocated 800,000 of the Company's authorised but unissued share capital as settlement of the exercised options granted under the LTI Plan.

The Board has resolved to grant 120,000 share options to key human resources under the Company's LTI Plan. Each share option gives the holder the right to purchase one share in the Company at an exercise price of USD 8.00. The share options will vest over a period of three years and expire 5 years after the grant date.

Following the grant, the total number of outstanding share options is 620,000.

The following primary insider was granted options:

Herman Billung (Contracted CEO), was granted 100,000 options, following which he holds in total 100,000 options.

For further queries, please contact:

Herman Billung, Contracted CEO

Telephone +47 918 31 590

About Himalaya Shipping Ltd.:

Himalaya Shipping Ltd. is an independent bulk carrier company, incorporated in Bermuda. Himalaya Shipping has ordered 12 LNG dual fuel Newcastlemax dry bulk carriers with delivery between Q2 2023 and Q4 2024.