Pyxis Tankers (PXS) Company Presentation summary

Company overview and strategy

• Operates a diversified fleet of three modern MR product tankers and three dry bulk carriers, focusing on eco-efficiency and low operating costs.

• Maintains strong liquidity and modest leverage, with significant capital available for fleet expansion by 2-3 vessels.

• Employs a mixed chartering strategy, balancing spot and time charters to optimize cash flow and capture market upside.

• Management and board have over 100 years of combined industry experience, with a major shareholder as CEO.

• Committed to disciplined financial management, ESG standards, and maintaining a competitive cost structure.

Fleet and employment

• As of October 27, 2025, 93% of Q4 MR tanker days and 51% of bulker days are booked at average TCE rates of $20,680/day and $16,020/day, respectively.

• All six vessels are employed on time charters with staggered redelivery dates through late 2025 and 2026.

• Fleet average age is 11.2 years for tankers and 9.9 years for bulkers.

• Mixed chartering strategy provides both stable cash flows and upside from spot market exposure.

Market environment and outlook

• Product tanker market remains healthy, supported by global GDP growth (~3.1% for 2025-2026), OPEC+ production changes, and ongoing geopolitical disruptions.

• EU and G7 sanctions on Russian refined products and Middle East conflicts are reshaping trade routes, increasing ton-mile demand and volatility.

• MR2 tanker orderbook stands at 14.7% of the global fleet, with new deliveries facing delays and high construction costs; 17.7% of the fleet is over 20 years old.

• Modern MR2 tanker values have risen sharply, with 5-year-old vessels up 39% over historical averages.