The document is a company presentation for Pyxis Tankers Inc. from November 2016. It provides the following key information: - Pyxis Tankers operates a fleet of 6 tanker vessels that transport refined petroleum products. The fleet has a weighted average age of 5.7 years. - The company aims to grow its fleet opportunistically while maintaining a competitive cost structure and solid balance sheet. It has relationships with reputable charterers and shipyards. - In the third quarter of 2016, Pyxis saw lower time charter equivalent revenues and fleet utilization compared to the previous year due to softer market conditions, though remaining time charters mitigated the impact on revenues.

1. COMPANY PRESENTATION
November 2016

2. 2
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”, “anticipated”, “outlook”, “is
estimated”, “forecasts”, “potential”, “continues”, “may”, “will”, “positioned”, “possible”, “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).

3. 3
COMPANY HIGHLIGHTS
EMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY
►Competitive total daily operational costs to peer group
►Moderate capitalization with low cost, long-lived bank debt
►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
5.7 years (dwt)
►Potential for an additional MR to be acquired
►Long-standing relationships with reputable, first-class customers worldwide
►As of November 1, 2016, 39% of remaining available chartering days in
2016 covered
►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. 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 STRATEGY
QUALITY, GROWTH, SERVICE & FLEXIBILITY

5. 5
FLEET & EMPLOYMENT OVERVIEW
POSITIONED FOR UPSIDE OPPORTUNITIES
Mixed chartering strategy provides stable, visible cash flows from time charters and upside opportunities through
spot trading when rates improve
Vessel Shipyard
Vessel
Type
Size (dwt) Year Built
Type of
Charter
Anticipated
Redelivery Date (1)
Pyxis Epsilon SPP / S.Korea MR 50,295 2015 Time Dec. 2016
Pyxis Theta SPP / S.Korea MR 51,795 2013 Time Dec. 2016
Pyxis Malou SPP / S.Korea MR 50,667 2009 Spot Nov. 2016
Pyxis Delta Hyundai / S.Korea MR 46,616 2006 Spot Nov. 2016
Northsea Alpha Kejin / China Small Tanker 8,615 2010 Time Nov. 2016
Northsea Beta Kejin / China Small Tanker 8,647 2010 Spot Nov. 2016
Fleet Details
Fleet Employment Overview
(1) These tables are dated as of November 4, 2016 and show gross rates and do not reflect commissions payable.
Vessel 2016 2017 2018
Pyxis Epsilon $16,575 / Day
Pyxis Theta $14,700 / Day
Pyxis Malou N/A
Pyxis Delta N/A
Northsea Alpha $9,650 / Day
Northsea Beta N/A
Fixed Employment Charterers Optional Period Open Days
As of November 1, 2016, 39% of anticipated available days for the remainder of 2016 are fixed.

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

7. 7
SENIOR MANAGEMENT
EXPERIENCED 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

8. 8
PYXIS ORGANIZATIONAL STRUCTURE
LEAN, 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 November 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

9. MARKET OVERVIEW
PRODUCT TANKER INDUSTRY

10. 10
MR2 PRODUCT TANKER MARKET UPDATE
SUMMARY
Softer chartering conditions
► Spot rates have substantially declined since peak of Fall, 2015
► One year time charter rates down to ~$12,000/d since beginning of year, well below
last 10 year peak of ~ $26,800/d
► Major reasons: higher inventories of refined products worldwide, lack of arbitrage
opportunities and new tonnage additions
► Charter rates expected to rebound in latter Q4 due to seasonal factors in northern
hemisphere – demand for heating oil and possible port delays
Declining newbuild order book
► MR2 order book – lowest level in 20+ years; substantially delivered by the end of 2017
► No material new ordering of product tankers
► Access to capital continues to be very challenging; difficulties continue for mixed
fleet owners
Historically low MR2 asset values create attractive entry point ($ millions):
Type Recent Broker Indications Avg. 2005-15*
New Build (del. ‘18) $33 $40.3
5 yr. old 22-23 34.7
* Source: Drewry – July 31, 2016, excludes Jones Act vessels

11. 11
PRODUCT MARKETS OVERVIEW
REFINED 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

12. 12
PRODUCT MARKETS OVERVIEW
PRODUCT 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 - 79,999
Short- 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 - 24,999
Short-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.

13. PYXIS TANKERS
FINANCIAL SUMMARY – Q3 2016

14. 14
UNAUDITED FINANCIAL HIGHLIGHTS
THREE MONTHS ENDED SEPTEMBER 30, 2015 & 2016
Three Months ended
September 30,
2015
September 30,
2016
In ‘000 USD except for daily TCE rates
Time / spot charter revenue mix 85% / 15% 64% / 36%
Voyage revenues $8,239 $7,197
Voyage related costs and commissions (832) (2,234)
Time charter equivalent revenues* $ 7,407 $ 4,963
Total operating days 548 477
Daily time charter equivalent rate* $ 13,514 $ 10,406
Fleet Utilization 99.3% 86.4%
* Subject to rounding; Please see Exhibit I – Non-GAAP Measures and Definitions
Remaining time
charters mitigated
poor spot
environment

15. 15
UNAUDITED INCOME STATEMENT
THREE MONTHS ENDED SEPTEMBER 30, 2015 & 2016
* Please see Exhibit I – Non-GAAP Measures and Definitions
Disciplined fixed
cost structure
creates operating
leverage when
charter rates
improve
Three Months ended
September
30, 2015
September
30, 2016
In ‘000 USD except per share data
Voyage revenues $8,239 $7,197
Expenses:
Voyage related costs and commissions (832) (2,234)
Vessel operating expenses (3,266) (3,211)
General & administrative expenses (442) (581)
Management fees, related parties (151) (169)
Management fees, other (263) (252)
Amortization of special survey costs (63) (61)
Depreciation (1,405) (1,449)
Operating income / (loss) 1,817 (760)
Other expenses:
Interest and finance costs, net (558) (703)
Total other expenses, net (558) (703)
Net income / (loss) $1,259 ($1,463)
Earnings / (loss) per share (basic & diluted) $0.07 ($0.08)
EBITDA* $3,285 $750

16. 16
(amounts in $)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2015 2016 2015 2016
Eco-Efficient MR2: (2 units)
Average TCE * 15,727 14,830 15,606 15,442
Opex * 6,078 5,624 6,658 5,798
Utilization % 100.0% 96.2% 99.2% 98.5%
Eco-Modified MR2: (1 unit)
TCE 14,829 4,847 18,102 12,447
Opex 6,277 6,199 6,539 6,484
Utilization % 95.7% 85.9% 97.4% 93.4%
Standard MR2: (1 unit)
TCE 19,412 11,540 16,642 16,291
Opex 7,196 6,635 6,388 6,862
Utilization % 100.0% 79.3% 100.0% 92.7%
Small Tankers: (2 units)
Average TCE 7,722 7,523 7,432 8,271
Opex 4,933 5.412 5,454 5,365
Utilization % 100.0% 80.4% 99.0% 87.4%
Fleet: (6 units)
TCE 13,514 10,406 13,599 12,835
Opex 5,916 5,818 6,188 5,945
Utilization % 99.3% 86.4% 99.0% 93.0%
RECENT DAILY FLEET DATA
THREE & NINE MONTHS ENDED SEPTEMBER 30, 2015 and 2016
* Please see Exhibit I – Non-GAAP Measures and Definitions
Relatively
Low Opex

17. 17
TOTAL DAILY OPERATIONAL COSTS/ECO-VESSELS
THREE MONTHS ENDED SEPTEMBER 30, 2016
Eco
Three Months ended September 30, 2016 Modified Efficient
(amounts in $/day)
Opex* $6,199 $5,624
Technical & commercial management fees 757 757
G&A expenses 1,053 1,053
Total daily operational costs per vessel $8,009 $7,434
* Please see Exhibit I - Non-GAAP Measures and Definitions
Our Eco MR2 Total
Daily Operational
Costs are Competitive

18. 18
CAPITALIZATION
AT SEPTEMBER 30, 2016
At September 30,
2016
In ‘000 USD
Cash and cash equivalents, including restricted cash $ 6,034
Bank debt, net of deferred financing fees 74,902
Promissory note 2,500
Total debt $ 77,402
Stockholders' equity 54,585
Total capitalization $ 131,987
Net debt $ 71,368
Total debt / total capitalization 58.6%
Net debt / total capitalization 54.1%
Weighted average interest rate of the total debt for the nine months ended September 30, 2016 was 3.24%
Moderate
Leverage at
Low Interest
Costs
No balloon
payments until
2018

19. 19
MANAGEMENT INCENTIVIZED TO ACHIEVE GROWTH
FOUNDER/CEO’S SUBSTANTIAL SHAREHOLDINGS
►The shareholder base as of November 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

20. 20
COMPANY HIGHLIGHTS
EMERGING 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
 Long-term Industry Fundamentals Continue to Look
Favorable

21. NON-GAAP MEASURES AND DEFINITIONS
EXHIBIT I

22. 22
EXHIBIT I | NON-GAAP MEASURES AND DEFINITIONS
(in thousands of U.S. Dollars)
Three months ended
September 30,
2015 2016
Reconciliation of Net income to EBITDA
Net income / (loss) $ 1,259 $ (1,463)
Depreciation 1,405 1,449
Amortization of special survey costs 63 61
Interest and finance costs, net 558 703
EBITDA $ 3,285 $ 750

23. 23
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

24. 24
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