Core Viewpoint - Pyxis Tankers Inc. is set to release its unaudited financial results for Q4 and the full year of 2024 on March 13, 2025, after market close in New York [1]. Company Overview - Pyxis Tankers Inc. operates a modern fleet of six eco-vessels, including three MR product tankers, one Kamsarmax bulk carrier, and interests in two dry bulk joint ventures [3]. - The company focuses on the seaborne transportation of refined petroleum products and dry bulk commodities, positioning itself for opportunistic expansion and fleet maximization due to strong capital resources and competitive cost structure [3]. - The management team is experienced and aligned with shareholder interests, enhancing the company's operational effectiveness [3].

Core Viewpoint - Pyxis Tankers Inc. has announced significant updates regarding shareholder actions and chartering agreements, indicating a strategic focus on fleet management and shareholder value enhancement [1][4]. Company Updates - The company has completed a $3.0 million common share repurchase program, acquiring 730,683 shares at an average cost of $4.03 per share, which reduces the total outstanding shares to 10,485,865 [4]. - In 2024, the company redeemed all of its 7.75% Series A Cumulative Convertible Preferred Stock, preventing potential dilution of 1,799,871 common shares, resulting in a total expenditure of approximately $13.1 million for equity repurchases [4]. - As of January 29, 2025, 72% of available days for the company's three eco-MR product tankers in Q1 2025 were booked at an average estimated daily time charter equivalent (TCE) rate of $24,750 per vessel [4]. - For the same period, 68% of available days for the three dry-bulk vessels were booked at an average estimated daily TCE of $15,400 [4]. Fleet Information - The company operates a fleet of six eco-vessels, including three MR product tankers and one Kamsarmax bulk carrier, with a focus on transporting refined petroleum products and dry bulk commodities [6]. - The tanker fleet includes: - Pyxis Lamda (MR2, 50,145 dwt, built in 2017, on spot charter) - Pyxis Theta (MR2, 51,795 dwt, built in 2013, on time charter at $22,000 per day until December 2025) - Pyxis Karteria (MR2, 46,652 dwt, built in 2013, on time charter at $24,500 per day until September 2025) [2][3]. - The dry-bulk fleet includes: - Konkar Ormi (Ultramax, 63,520 dwt, built in 2016, on time charter at $13,650 per day plus bonuses) - Konkar Asteri (Kamsarmax, 82,013 dwt, built in 2015, on time charter at $12,850 per day plus bonuses) - Konkar (Kamsarmax, 82,099 dwt, built in 2015, on time charter at $10,000 per day) [2][5].

Third Quarter Ended September 30, 2024 Results November 22, 2024 DISCLAIMER FORWARD-LOOKING STATEMENTS & INFORMATION This presentation contains forward-looking statements and forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 applicable securities laws. The words "expected'', "estimated", "scheduled", "could", "should", "anticipated", "long-term", "opportunities", "potential", "continue", "likely", "may", "will", "positioned", "possible", "believe", "expan ...

Financial Data and Key Metrics - Consolidated time charter equivalent (TCE) revenues for Q2 2024 were $12.2 million, a 42% increase compared to Q2 2023 [3] - Daily TCE for the fleet in Q2 2024 was $29,150, with MR2 product tankers averaging $32,900 and midsized bulkers averaging $22,300 per day [3] - Net income for Q2 2024 was $5 million, or $0.48 basic EPS, significantly higher than Q2 2023 [4] - Adjusted EBITDA for Q2 2024 rose to $8 million, up $2.8 million from the previous year [15] - The company's consolidated leverage ratio of net funded debt stood at 23% of total capitalization as of June 30, 2024, with a weighted average interest rate of 8% [16] - Total cash position at the end of June 2024 was $44.6 million, with most excess cash invested in short-term money market investments earning 5.5% [16] Business Line Data and Key Metrics - The fleet consists of six modern midsized eco vessels: three MR2 product tankers, one Ultramax, and two Kamsarmax bulk carriers [3] - As of August 9, 68% of available days in Q3 2024 were booked for MRs at an average estimated TC rate of $33,850 per day [5] - For the dry bulk sector, 76% of available days in Q3 2024 were booked at an average estimated TC rate of $17,200 per day [5] - The average age of the fleet is below industry averages, with MRs at 9.9 years and bulkers at 8.7 years [7] Market Data and Key Metrics - Global refinery activity remains constructive, with 3.7 million barrels per day of net new refinery capacity scheduled to come online from 2024 through 2028, primarily in the Middle East and Asia [8] - The Russia-Ukraine war and Middle East conflicts have sustained strong charter rates, lengthened sailing distances, and expanded ton miles [9] - The order book for MR2 product tankers stands at 274 vessels, or 16.1% of the global fleet, with 104 MRs scheduled for delivery by the end of 2025 [10] - 13.5% of the global MR2 fleet, or 230 tankers, are 20 years of age or older, indicating potential for increased scrapping in the next five years [10] - Dry bulk trade is estimated to grow 2.6% to almost 5.7 billion tons in 2024, with ton miles increasing by 3.9% [12] Company Strategy and Industry Competition - The company is committed to pursuing value-enhancing accretive investment opportunities, focusing on strengthening the balance sheet, amortizing scheduled debt, and repurchasing additional shares [6] - The company maintains a mixed chartering strategy of time and spot charters, with a focus on diversification by customer and direction [7] - The company is selective in pursuing acquisitions in the dry bulk sector due to appreciating asset values, while finding it challenging to acquire modern MRs at current high prices [6] - The company expects to benefit from long-term demand for product tankers driven by refinery additions and global GDP growth supporting dry bulk demand [17] Management Commentary on Operating Environment and Future Outlook - The fundamental outlook for product tankers and dry bulk carriers remains positive, with healthy charter rates and rising asset values, though market conditions are influenced by macroeconomic and geopolitical events [2] - The company expects demand for product tankers to be boosted by refinery additions in the Middle East and Asia, leading to further expansion of ton miles [8] - The company anticipates continued strong chartering conditions for both product tankers and dry bulk carriers, supported by solid end-market consumption, lower refined product inventories, and changing trade patterns [17] - The company plans to utilize its solid financial position and industry relationships to develop additional investment opportunities, including selective fleet expansion [17] Other Important Information - The company's next vessel surveys are scheduled for the first half of 2025 on the Konkar Asteri and Konkar Venture [7] - The company has approximately 10.7 million common shares outstanding as of August 9, 2024, and 12 million shares on a fully diluted basis [16] Q&A Session Summary - No specific questions or answers were provided in the transcript [18]

While certainly valid concerns, they do not justify a more than 60% discount to NAV, at least not in my opinion. | --- | --- | |--------------------------------------------------|-------| | Pyxis Tankers - Net Asset Value June 2024 | | | Fleet Value (net of non-controlling interest) | 178.9 | | Cash and Restricted Cash | 49.0 | | Estimated Q2/2024 Cash Generation | 5.0 | | Vessel Purchase Obligations | 18.1 | | Long-Term Debt (net of non-controlling interest) | 66.6 | | Preferred Stock | 10.1 | | Net Asset ...

Considering the favorable prospects for both sectors and our existing capital resources, along with established lending relationships, we remain committed to actively pursuing value-enhancing investment opportunities. We have decided to further expand our fleet by investing in the acquisition of a sister-ship of our Konkar Asteri. of Black Swan events only add to market uncertainty. Good day, and welcome to the Pyxis Tankers conference call to discuss the financial results for the first quarter 2024. I must ...

Maroussi, Greece – May 21, 2024 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), ("we", "our", "us", the "Company" or "Pyxis Tankers"), an international shipping company, announced today key strategic and financial actions to further enhance its shareholder value. Mr. Eddie Valentis, Chairman and Chief Executive Officer of the Company, commented: "Secondhand values for modern eco-efficient product tankers continue to appreciate unabated. In our opinion, current asset prices are prohibitively high for fleet expa ...

Maroussi, Greece, May 21, 2024 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), ("we", "our", "us", the "Company" or "Pyxis Tankers"), an international shipping company, today announced unaudited results for the three months ended March 31, 2024. Summary For the three months ended March 31, 2024, our Revenues, net were $11.8 million. For the same period, our time charter equivalent ("TCE") revenues were $10.2 million, an increase of $0.9 million, or 10.2%, over the comparable period in 2023. Our net income attr ...

Webcast: A webcast of the conference call will be available through our website (http://www.pyxistankers.com) under our Events Presentations page. A telephonic replay of the conference and accompanying slides will be available following the completion of the call and will remain available until Tuesday, May 28, 2024. Webcast participants of the live conference call should register on the website approximately 10 minutes prior to the start of the webcast and can also access it through the following link: Mar ...

Conference Call details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: +1 877 405 1226 (US Toll-Free Dial In) or +1 201 689 7823 (US and Standard International Dial In). Please quote "Pyxis Tankers" to the operator and/or conference ID 13746734. Click here for additional International Toll- Free access numbers. Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can ...