Himalaya Shipping ^{Priced, NYSE: HSHP}

We are an independent bulk carrier company with contracts to acquire 12 Newcastlemax dry bulk vessels, of which two vessels were delivered on March 2 and March 9, 2023, respectively, and are currently in operation and 10 are under construction at New Times Shipyard in China. We were founded in March 2021 for the purpose of operating high-quality dry bulk vessels in the range of 210,000 dwt. These vessels will be equipped with the latest generation dual fuel LNG technology, with fuel-saving devices, exhaust gas cleaning systems or “scrubbers”, and ammonia ready engines, which we believe will make our vessels more fuel efficient, more cost effective, and environmentally friendly as compared to older dry bulk vessels without these features, which we believe will make our fleet more attractive to charterers. We expect the dual fuel capability to be a benefit when LNG is economical to use. The estimated delivery of our vessels is between April 2023 and July 2024. Pursuant to agreements with the Leasing Providers, upon delivery from New Times, each acquired vessel will be sold to a special purpose vehicle (“SPV”) owned by the Leasing Providers, and each SPV has agreed to charter back the vessels under bareboat charters, under Hell and High Water Terms, subject to the effective transfer of ownership of the vessels to the SPVs. Each of the vessels will be flagged in Liberia.