Disclosure of Shareholding – Affinity Shipholdings I LLP

Reference is made to Himalaya Shipping Ltd.'s ("Himalaya Shipping") stock exchange announcement on March 31, 2023, (the “Announcement”) relating to the pricing of the shares in Himalaya Shipping’s initial public offering in the United States of 7,720,000 new shares (the “Offering”).

Affinity Shipholdings I LLP (“Affinity”) has today been notified that it has been allocated 86,207 shares in the Offering (the “Allocation”). The new shares are expected to be delivered on April 4, 2023, subject to customary closing conditions.

Further, Affinity Shipholdings I LLP has lent 1,158,000 shares to DNB Markets pursuant to a share lending agreement to facilitate the over-subscription of the Offering with an equal number of shares (the “Share Lending”).  

Prior to the Allocation, the Share Lending and the Offering, Affinity had 3,228,096 shares in Himalaya Shipping representing more than 10% of the share capital and voting rights. Following the Share Lending, Affinity has 2,070,096 shares in Himalaya Shipping, representing 6.4% of the share capital and votes in Himalaya Shipping.

Following the settlement of the Offering, Affinity expects to own 2,156,303 shares in Himalaya Shipping, representing 5.4% of the shares and votes in Himalaya Shipping.  

The ownership percentages described above following the Share Lending and the settlement of the Offering assume that the underwriters of the Offering do not declare the over-allotment option described in the Announcement, and will be subject to adjustments should the option be declared.