COMPANY PRESENTATION MARCH 2016 DISCLAIMER FORWARD-LOOKING - PowerPoint PPT Presentation

COMPANY PRESENTATION MARCH 2016

DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expected'', “budget”, “scheduled”, “anticipates”, “outlook”, “is estimated”, “forecasts”, “potential”, “continues”, “may”, “will”, “positioned”, “should”, “believe”, “intends” and variations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended to identify forward-looking, information or statements. Forward-looking information is based on the opinions, expectations and estimates of management of Pyxis Tankers Inc. (“we” or “our”) at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Although we believe that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, you should not place undue reliance on the forward-looking statements and information because we cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties and actual results and future events could differ materially from those anticipated in such information. Factors that might cause or contribute to such discrepancy include, but are not limited to, the risk factors described in our Annual Report on Form 20-F for the year ended December 31, 2105 and other filings with the Securities and Exchange Commission (the “SEC”). The forward-looking statements and information contained in this presentation are made as of the date hereof. We do not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except in accordance with U.S. federal securities laws and other applicable securities laws. This presentation and any oral statements made in connection with it are for informational purposes only and do not constitute an offer to buy or sell our securities. For more complete information about us, you should read the information in this presentation together with our filings with the SEC, which may be accessed at the SEC’s website (http://www.sec.gov). 2

COMPANY HIGHLIGHTS EMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY Attractive, Modern Fleet Including “Eco” Vessels ► Focus on modern medium range (“MR”) product tankers with “eco” features ► Young tanker fleet of 6 IMO-certified vessels with weighted average age of 4.8 years (dwt) ► Potential for an additional 1 or 2 MR’s to be acquired Reputable Customer Base & Diversified Chartering Strategy ► Long-standing relationships with reputable, first-class customers worldwide ► Time charter and spot market exposure with 61% of available chartering days covered ► Positioned to capitalize when spot rates improve Competitive Cost Structure & Solid Balance Sheet ► Comparable total daily cash operational costs to peer group ► Moderate capitalization with low cost, long-lived bank debt ► Excess balance sheet capacity to grow tonnage through acquisitions Experienced, Incentivized Management & Board ► Strong management team with 100+ years of combined industry and capital markets experience ► Founder/CEO has proven track record and is a substantial shareholder ► Board Members consist of prominent industry figures and/or with significant experience 3

COMPANY STRATEGY QUALITY, GROWTH, SERVICE & FLEXIBILITY Grow the Fleet Opportunistically ► Focus on acquisition of IMO II and III class product tankers of eight years of age or less built in Tier 1 Asian shipyards ► Potential acquisition opportunity of one or two MR tankers owned/controlled by affiliates of our CEO Utilize Portfolio Approach to Commercial Management ► Employ vessels primarily through time charters (with and without profit share) and on the spot market ► Diversify charters by customer and staggered duration ► Position employment to capture upside during periods of market strength Maintain Financial Flexibility ► Expand fleet by targeting balanced capital structure of debt and equity ► Maintain commercial banking and expand public capital markets relationships Focus on the Needs of Our Customers ► Meet charterers’ preference for modern tankers, which offer more operating reliability and efficiency ► Maintain high standards to ensure high level of safety, customer service and support, while continuing ship level financial discipline 4

FLEET & EMPLOYMENT OVERVIEW STABLE, VISIBLE CASH FLOWS WITH UPSIDE OPPORTUNITY Chartering strategy provides stable, visible cash flows from time charters and upside opportunity through spot trading when rates improve Fleet Details Vessel Type of Anticipated Vessel Shipyard Size (dwt) Year Built Redelivery Date (1) Type Charter Pyxis Epsilon SPP / S.Korea MR 50,295 2015 Time Jan. 2017 Pyxis Theta SPP / S.Korea MR 51,795 2013 Time Sept. 2016 Pyxis Malou SPP / S.Korea MR 50,667 2009 Time June 2016 Pyxis Delta Hyundai / S.Korea MR 46,616 2006 Time Sept. 2016 Northsea Alpha Kejin / China Small Tanker 8,615 2010 Time Oct. 2016 Northsea Beta Kejin / China Small Tanker 8,647 2010 Spot N/A 61% of available days in 2016 are under charter coverage (65% with options), average T/C duration 7 months Fleet Employment Overview Vessel 2016 2017 2018 Pyxis Epsilon $16,575 / day Pyxis Theta $15,600 / day Pyxis Malou $18,200 / day Pyxis Delta $18,000 / day Northsea Alpha $9,650 / day Spot Trade Northsea Beta N/A (1) Each time charter contains provision that allows for redelivery +/-30 days, except the Pyxis Delta which allows 15 days. Pyxis Epsilo n’s charterer has option to extend charter one year for $18,050/day. Pyxis Theta’s charterer has option to extend charter one year for $16,600/day and additional year for $ 17,600/day. These tables are dated as of March 15, 2016 and show gross rates and do not reflect commissions payable. 5

STRONG RELATIONSHIPS QUALITY VESSELS & OPERATIONS BLUE CHIP CUSTOMERS ATTRACTIVE LENDING TERMS SHIPYARDS CUSTOMERS BANKS 6

SENIOR MANAGEMENT EXPERIENCED TEAM WITH DECADES OF EXPERIENCE ► 25+ years of experience in owning, operating and managing within various shipping sectors, including product, dry bulk, chemical, as well as salvage and towage Valentios “Eddie” ► Founder of Pyxis Tankers in 2015 and Pyxis Maritime Corp. in 2007 Valentis ► For the last 15 years, Managing Director & Principal of KONKAR SHIPPING AGENCIES S.A., an Athens- Chairman & CEO based dry bulk owner-operator established in 1968 ► Joined Pyxis affiliates in 2015; 35 years of commercial, investment and merchant banking experience Henry Williams ► Previous investment banking positions include Nordea Markets (Oslo & NY) – Global Sector Head- CFO & Treasurer Shipping, and Oppenheimer (NY) – Head of Energy & Transportation ► Joined Pyxis affiliates in 2008; 24+ years of experience in the shipping industry Konstantinos ► Co-founder of Navbulk Shipping S.A., a start-up dry bulk company “Kostas” Lytras ► 5 years as Financial Director of Neptune Lines, a car carrier company Chief Operating ► 16 years in various financial and operational positions for other ship owning and services companies Officer ► Joined Pyxis affiliates in 2013; 18+ years experience in strategic corporate shipping transactions Antonios “Tony” ► Previous 5 years securities and M&A partner at Watson Farley & Williams with particular focus in Backos shipping industry SVP for Corporate ► Advised on complex international corporate shipping transactions in New York offices of Orrick, Development, Herrington & Sutcliffe LLP and Healy & Baillie, LLP and in New York and London offices of Weil, Gotshal General Counsel & & Manges LLP since 1997 Secretary ► Former member of Board of Governors & Vice President of the Connecticut Maritime Association 7

PYXIS ORGANIZATIONAL STRUCTURE LEAN, EFFICIENT ORGANIZATIONAL STRUCTURE Quality, Cost Effective Ship Management ► Streamlined structure minimizes costs and allows management to focus on creating long term shareholder value ► Very competitive ship management fees provide safe and efficient operating results compared to peers Administrative, Commercial & Ship Management Services (1) Northsea Alpha/Beta Management (2) Administrative & Ship Management Fees Technical Management (3) (1) As an affiliate, provides the commercial management for the Pyxis Epsilon, Pyxis Theta, Pyxis Malou and the Pyxis Delta and supervises the crewing and technical management performed by ITM for all our vessels and the chartering of the Northsea Alpha and the Northsea Beta, which is performed by NST (2) Provides commercial management for the Northsea Alpha and scheduled until June 2016, for the Northsea Beta (3) Provides technical management for all our vessels 8

MARKET OVERVIEW PRODUCT TANKER INDUSTRY