COMPANY PRESENTATIONAugust 2016

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DISCLAIMERFORWARD-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”, “anticipated”, “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).

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COMPANY HIGHLIGHTSEMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY

►Comparable total daily operational costs to peer group

►Moderate capitalization with low cost, long-lived bank debt

►Excess balance sheet capacity to grow tonnage through acquisitions

►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

►Focus on modern medium range (“MR”) product tankers with “eco”

features

►Young tanker fleet of 6 IMO-certified vessels with weighted average age of

5.4 years (dwt)

►Potential for an additional MR to be acquired

►Long-standing relationships with reputable, first-class customers worldwide

►Time charter and spot market exposure with 48% of remaining available

chartering days in 2016 covered, excluding options, as of June 30, 2016

►Positioned to capitalize when spot rates improve

Attractive, Modern

Fleet

Reputable Customer

Base & Diversified

Chartering Strategy

Competitive Cost

Structure & Solid

Balance Sheet

Experienced,

Incentivized

Management

& Board

4

►Expand fleet by targeting balanced capital structure of debt and equity

►Maintain commercial banking and expand capital markets relationships

►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

►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 MR tankers owned / controlled by

affiliates of our CEO

►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

Grow the Fleet

Opportunistically

Utilize Portfolio

Approach to

Commercial

Management

Maintain Financial

Flexibility

Focus on the Needs

of our Customers

COMPANY STRATEGYQUALITY, GROWTH, SERVICE & FLEXIBILITY

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FLEET & EMPLOYMENT OVERVIEWSTABLE, 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

Vessel ShipyardVessel

TypeSize (dwt) Year Built

Type of

Charter

Anticipated

Redelivery Date (1)

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 Spot Aug. 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 Time Oct. 2016

Fleet Details

Fleet Employment Overview

(1) Pyxis Epsilon’s charterer has an option to extend the charter for one year for $18,050/day. Northsea Beta’s charterer has an option to extend the

charter for two months at same rate. These tables are dated as of August 9, 2016 and show gross rates and do not reflect commissions payable.

As of June 30, 2016, 48% of anticipated available days for the remainder of 2016 are under charter coverage (64% with options). At

June 30, 2016, our fleet’s average remaining T/C duration was 3 months (6 months with options).

Vessel 2016 2017 2018

Pyxis Epsilon $16,575 / Day

Pyxis Theta $15,600 / Day

Pyxis Malou N/A

Pyxis Delta $18,000 / Day

Northsea Alpha $9,650 / Day

Northsea Beta $8,750 / Day

Fixed Employment Charterers Optional Period Open Days

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SHIPYARDS BANKS

STRONG RELATIONSHIPSQUALITY VESSELS & OPERATIONS BLUE CHIP CUSTOMERS ATTRACTIVE LENDING TERMS

CUSTOMERS

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SENIOR MANAGEMENTEXPERIENCED TEAM WITH DECADES OF EXPERIENCE

► Joined Pyxis affiliates in 2013; 18+ years experience in strategic corporate shipping transactions

► Previous 5 years securities and M&A partner at Watson Farley & Williams with particular focus in

shipping industry

► Advised on complex international corporate shipping transactions in New York offices of Orrick,

Herrington & Sutcliffe LLP and Healy & Baillie, LLP and in New York and London offices of Weil, Gotshal

& Manges LLP since 1997

► Former member of Board of Governors & Vice President of the Connecticut Maritime Association

► Joined Pyxis affiliates in 2008; 24+ years of experience in the shipping industry

► Co-founder of Navbulk Shipping S.A., a start-up dry bulk company

► 5 years as Financial Director of Neptune Lines, a car carrier company

► 16 years in various financial and operational positions for other ship owning and services companies

► 25+ years of experience in owning, operating and managing within various shipping sectors,

including product, dry bulk, chemical, as well as salvage and towage

► Founder of Pyxis Tankers in 2015 and Pyxis Maritime Corp. in 2007

► For the last 15 years, Managing Director & Principal of KONKAR SHIPPING AGENCIES S.A., an Athens-

based dry bulk owner-operator established in 1968

► Joined Pyxis affiliates in 2015; 35 years of commercial, investment and merchant banking experience

► Previous investment banking positions include Nordea Markets (Oslo & NY)–Global Sector Head-

Shipping, and Oppenheimer (NY)–Head of Energy & Transportation

Antonios “Tony”

Backos

SVP for Corporate

Development,

General Counsel &

Secretary

Konstantinos

“Kostas” Lytras

Chief Operating

Officer

Valentios “Eddie”

Valentis

Chairman & CEO

Henry Williams

CFO & Treasurer

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PYXIS ORGANIZATIONAL STRUCTURELEAN, EFFICIENT ORGANIZATIONAL STRUCTURE

Administrative, Commercial &

Ship Management Services(1)

Administrative & Ship

Management Fees

(1) As an affiliate, provides the commercial management for the Pyxis Epsilon, Pyxis Theta, Pyxis Malou, Pyxis Delta and the Northsea Beta and supervises the crewing and technical management

performed by ITM for all our vessels and the chartering of the Northsea Alpha, which is performed by NST

(2) Provides commercial management for the Northsea Alpha, scheduled until October 2016

(3) Provides technical management for all our vessels

Northsea Alpha

Management(2)

Technical

Management(3)

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 @ $750/day/vessel provide safe and efficient

operating results compared to peers

MARKET OVERVIEWPRODUCT TANKER INDUSTRY

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PRODUCT MARKETS OVERVIEWREFINED PRODUCTS OVERVIEW

Source: Drewry

Bitumen

Fuel Oil

Cycle Oils

Diesel/Gasoil

Kerosene

Gasolines

Clean Condensates

Naphthas

Dirty

Products

Clean

Products

Veg

Oils/Chemicals

Crude

Most products tankers can switch

between clean and dirty products

when the tanks are carefully cleaned.

Gasoil is a good clean up cargo when

switching from dirty to clean products

More sophisticated product tankers

work at this end of the market, some

with the ability to carry products and

certain chemicals

Crude tankers carry only crude oil and

fuel oils

Non-oil substances now covered by

revised IBC Code. To carry chemicals,

an IMO Certificate of Fitness is

required

Refined Products

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PRODUCT MARKETS OVERVIEWDEMAND GROWTH LED BY INCREASES IN TON MILES DUE TO CHANGING TRADE ROUTES & REFINING LANDSCAPE

Source: Drewry, July 31, 2016

* Compound annual growth rate

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

600

650

700

750

800

850

900

950

Seaborne Product Trade - Mill Tons Ton Mile Demand - Bill Ton Miles

Mill

ion

To

ns

Billio

n To

n M

iles

3.9% CAGR* in million tons of seaborne trade5.5% CAGR in ton mile demand

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PRODUCT MARKETS OVERVIEWREFINERY CAPACITY INCREASINGLY FURTHER AWAY FROM END USERS

Source: Drewry, July 31, 2016

0

500

1,000

1,500

2,000

2,500

North America South America Middle East Indian Sub

Continent

Asia

2016 2017 2018 2019 2020

Expected Refinery Capacity Additions Driven by Non-OECD Growth & Exports

‘000 B

arr

els

/ D

ay

13

Increases in long-haul routes

►Growth in net refining capacity is

expected to drive the demand for

product tankers.

►Low crude / feedstock prices generate

incremental refinery demand.

►Arbitrage between markets create further

opportunities

PRODUCT MARKETS OVERVIEWEVOLVING TRADE LANDSCAPE

Source: Drewry, July 31, 2016

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Typical Atlantic Basin triangulated route

►Emerging markets in South America and

Africa have little to no refining capacity.

►U.S. exports to South America have

grown at a CAGR of ~23% since 2005.

PRODUCT MARKETS OVERVIEWU.S. HAS BECOME MAJOR SUPPLIER IN THE ATLANTIC BASIC

Source: Drewry, July 31, 2016

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PRODUCT MARKETS OVERVIEWPRODUCT TANKER VESSEL OVERVIEW

Sources: * Drewry

Class of Tanker Cargo Capacity (Dwt) Typical Use

Long Range 2 (LR2) 80,000 +

Short- to medium-haul refined petroleum products

transportations from the North Sea or West Africa to Europe or

the East Coast of the United States, from the Middle East Gulf to

the Pacific Rim.

Long Range 1 (LR1) 55,000 - 79,999Short- to medium-haul crude oil and refined petroleum products

transportations worldwide, mostly on regional trade routes.

Medium Range 2 (MR2) 37,000-54,999

Medium Range 1 (MR1) 25,000-36,999

Small 1,000 - 24,999Short-haul of mostly refined petroleum products worldwide,

usually on local or regional trade routes.

Flexible vessels involved in medium-haul petroleum products

trades both in the Atlantic Basin and the growing intra-

Asian/Middle East/ISC trades. MRs are the work horses of the

product trades.

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0

10

20

30

40

50

LR2 LR1 MR2 MR1 Handy

Remainder 2016 2017 2018 2019+

PRODUCT MARKETS OVERVIEWORDERBOOK (SUPPLY) AT MANAGEABLE LEVELS

Source: Drewry, July 31, 2016

►Total MR vessel orderbook has fallen from high of ~58% in 2008 of then existing fleet to

8.5% of current worldwide fleet of 1,745 MR’s.

►Worldwide MR fleet expected to grow at 3.4% per annum thru 2017 without giving effect

to scrapping older vessels and slippage of deliveries.

►Limited capacity additions scheduled beyond 2017 due to low availability of financing

and would-be buyers exposure to weaker shipping segments.

►Financial challenges in certain shipyards continue to negatively impact newbuilding

deliveries.

Product Tanker Delivery Schedule

No

. o

f V

ess

els

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0%

10%

20%

30%

40%

50%

60%

< 5 Yrs 5-10 Yrs 10-15 Yrs 15-20 Yrs 20-25 Yrs 25+ Yrs

LR2 LR1 MR2 MR1 Handy

PRODUCT MARKETS OVERVIEWSCRAPPING IS INEVITABLE

Source: Drewry, July 31, 2016

Global Fleet Age Distribution by %

►25% of the MR1 fleet and 6% of

the MR2 fleet is greater than 20

years of age.

►A significant portion of the fleet is

approaching the end of its useful

life.

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SOLID OUTLOOKCURRENT MR2 CHARTER RATES REFLECT SOFTNESS - POTENTIAL UPSIDE?

Daily MR2 Time Charter Equivalent Spot Rates (Caribs-USAC)

1 Year MR2 Time Charter Rates

Source: Drewry, July 31, 2016

0

5,000

10,000

15,000

20,000

25,000

30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2013 2014 2015 2016YTD 5Yr Avg.

10,000

12,500

15,000

17,500

20,000

Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16

MR2 5Yr Avg.

USD

USD

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ASSET VALUESCURRENT LOW ASSET PRICES ATTRACTIVE ENTRY POINT

MR2 Asset Prices

MR1 Asset Prices

Source: Drewry, July 31, 2016

15

25

35

45

55

65

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16

NB Price NB Price Average 05-15 SH Price SH Price Average 05-15

15

25

35

45

55

65

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16

NB Price NB Price Average 05-15 SH Price SH Price Average 05-15

USD

Mill

ion

sU

SD

Mill

ion

s

PYXIS TANKERSFINANCIAL SUMMARY

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UNAUDITED FINANCIAL HIGHLIGHTSTHREE MONTHS ENDED JUNE 30, 2015 & 2016

Three Months ended

June 30, 2015 June 30, 2016

In ‘000 USD except for daily TCE rates

Time / Spot Charter Revenue Mix 89% / 11% 82% / 18%

Voyage revenues $7,168 $7,893

Voyage related costs and commissions (630) (875)

Time charter equivalent revenues* $ 6,538 $ 7,018

Total operating days 501 519

Daily time charter equivalent rate* $ 13,042 $ 13,529

Fleet Utilization 99.1% 95.0%

* Subject to rounding; Please see Exhibit I – Non-GAAP Measures and Definitions

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UNAUDITED INCOME STATEMENTTHREE MONTHS ENDED JUNE 30, 2015 & 2016

* Please see Exhibit I – Non-GAAP Measures and Definitions

Continued

Profitability

Three Months ended

June 30, 2015 June 30, 2016

In ‘000 USD except per share data

Voyage revenues $7,168 $7,893

Expenses:

Voyage related costs and commissions (630) (875)

Vessel operating expenses (3,270) (3,260)

General & administrative expenses (489) (740)

Management fees, related parties (147) (146)

Management fees, other (262) (264)

Amortization of special survey costs (32) (62)

Depreciation (1,436) (1,434)

Operating income 902 1,112

Other expenses:

Interest and finance costs, net (632) (705)

Total other expenses, net (632) (705)

Net income $270 $407

EPS (basic and diluted) $0.01 $0.02

EBITDA* $2,370 $2,608

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(amounts in $)Three Months Ended

June 30,Six Months Ended

June 30,

2015 2016 2015 2016

Eco-Efficient MR2: (2 units)

Average TCE * 15,672 15,783 15,557 15,734

Opex * 5,164 5,437 6,963 5,885

Utilization % 100.0% 100.0% 98.8% 99.8%

Eco-Modified MR2: (1 unit)

TCE 15,064 13,882 19,720 15,818

Opex 6,315 6,703 6,672 6,628

Utilization % 100.0% 94.8% 98.3% 97.4%

Standard MR2: (1 unit)

TCE 15,817 17,690 15,233 18,213

Opex 5,642 7,509 5,977 6,977

Utilization % 100.0% 98.8% 100.0% 99.4%

Small Tankers: (2 units)Average TCE 6,380 8,456 7,256 8,618

Opex 6,829 5.364 5,720 5,341

Utilization % 96.8% 88.2% 98.6% 90.8%

Fleet: (6 units)

TCE 13,042 13,529 13,645 13,939

Opex 5,991 5,969 6,328 6,010

Utilization % 99.1% 95.0% 98.8% 96.3%

RECENT DAILY FLEET DATATHREE & SIX MONTHS ENDED JUNE 30, 2015 and 2016

* Please see Exhibit I – Non-GAAP Measures and Definitions

Low Opex; High

MR Utilization

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TOTAL DAILY OPERATIONAL COSTS/ECO-VESSELSTHREE MONTHS ENDED JUNE 30, 2016

Three Months ended June 30, 2016 Eco-Modified Eco-Efficient

(amounts in $/day)

Opex* $6,703 $5,437

Technical & Commercial Management Fees 745 745

G&A Expenses 1,354 1,354

Total Daily Operational Costs per vessel $8,802 $7,536

* Please see Exhibit I - Non-GAAP Measures and Definitions

Our Eco MR2 Total

Daily Operational

Costs are Competitive

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CAPITALIZATIONAT JUNE 30, 2016

At June 30,2016

In ‘000 USD

Cash and cash equivalents, including restricted cash $ 8,230

Bank debt 77,004

Promissory Note 2,500

Total Debt $ 79,504

Stockholders' equity 56,048

Total Capitalization $ 135,552

Net Debt $ 71,274

Total Debt / Total Capitalization 58.7%

Net Debt / Total Capitalization 52.6%

Weighted average interest rate, including the Promissory Note, for the six months ended June 30, 2016 was 3.21%

Moderate

Leverage at

Low Interest

Costs

No balloon payments until 2018

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MANAGEMENT INCENTIVIZED TO ACHIEVE GROWTHFOUNDER/CEO’S SUBSTANTIAL SHAREHOLDINGS

►The shareholder base as of August 1, 2016 was:

Maritime Investors (affiliate of our CEO) 17,002,445 (93.0% of outstanding)

Public 1,275,448 (7.0%)

Total Shares Outstanding 18,277,893 (100%)

► Our common shares are listed on NASDAQ Capital Markets under trading symbol “PXS”

►Our Founder/CEO has substantial shareholdings and his interests are aligned with our

other shareholders

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COMPANY HIGHLIGHTSEMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY

Competitive Cost Structure & Solid Balance Sheet

Experienced, Incentivized Management & Board

Attractive, Modern Fleet Including “Eco” Vessels

Reputable Customer Base & Diversified Chartering Strategy

Industry Fundamentals Continue to Look Favorable

NON-GAAP MEASURES AND DEFINITIONSEXHIBIT I

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EXHIBIT I | NON-GAAP MEASURES AND DEFINITIONS

(in thousands of U.S. Dollars)Three months ended June 30,

2015 2016

Reconciliation of Net income to EBITDA

Net income $ 270 $ 407

Depreciation 1,436 1,434

Amortization of special survey costs 32 62

Interest and finance costs, net 632 705

EBITDA $ 2,370 $ 2,608

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EXHIBIT I | NON-GAAP MEASURES AND DEFINITIONS

EBITDA represents the sum of net income, interest and finance costs, depreciation and amortization, and, if any, interest taxes

during a period. EBITDA is not a recognized measurement under U.S. GAAP. EBITDA is presented as we believe that it provides

investors with a means of evaluating and understanding how our management evaluates operating performance. This non-

GAAP measure should not be considered in isolation from, as substitutes for, or superior to financial measures prepared in

accordance with U.S. GAAP. In addition, this non-GAAP measure does not have a standardized meaning, and is therefore,

unlikely to be comparable to similar measures presented by other companies.

Daily time charter equivalent (“TCE”) is a standard shipping industry performance measure of the average daily revenue

performance of a vessel on a per voyage basis. TCE is not calculated in accordance with U.S. GAAP. We utilize TCE because

we believe it is a meaningful measure to compare period-to-period changes in our performance despite changes in the mix

of charter types (i.e., spot charters, time charters and bareboat charters) under which our vessels may be employed between

the periods. Our management also utilizes TCE to assist them in making decisions regarding employment of the vessels. We

believe that our method of calculating TCE is consistent with industry standards and is determined by dividing voyage

revenues after deducting voyage expenses, including commissions by operating days for the relevant period. Voyage

expenses primarily consist of brokerage commissions, port, canal and fuel costs that are unique to a particular voyage, which

would otherwise be paid by the charterer under a time charter contract.

Vessel operating expenses per day (“Opex”) are our vessel operating expenses for a vessel, which consist primarily of crew

wages and related costs, insurance, lube oils, communications, spares and consumables, tonnage taxes as well as repairs

and maintenance, divided by the ownership days in the applicable period.

We calculate fleet utilization by dividing the number of operating days during a period by the number of available days

during the same period. The shipping industry uses fleet utilization to measure a company’s efficiency in finding suitable

employment for its vessels and minimizing the amount of days that its vessels are off-hire for reasons other than scheduled

repairs or repairs under guarantee, vessel upgrades, special surveys and intermediate dry-dockings or vessel positioning.

Operating days are the number of available days in a period, less the aggregate number of days that our vessels were off-

hire or out of service due to any reason, including technical breakdowns and unforeseen circumstances. Available days are

the number of ownership days in a period, less the aggregate number of days that our vessels were off-hire due to scheduled

repairs or repairs under guarantee, vessel upgrades or special surveys and intermediate dry-dockings and the aggregate

number of days that we spent positioning our vessels during the respective period for such repairs, upgrades and surveys.

Ownership days are the total number of days in a period during which we owned each of the vessels in our fleet.

Continued

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CONTACT

Pyxis Tankers Inc.

K.Karamanli 59

Maroussi 15125, Greece

Email: info@pyxistankers.com

www.pyxistankers.com

Henry Williams

CFO & Treasurer

Phone: +1 516 455 0106/ +30 210 638 0200

Email: hwilliams@pyxistankers.com

Antonios “Tony” Backos

SVP for Corporate Development, General Counsel and Secretary

Phone: +30 210 638 0180

Email: abackos@pyxistankers.com