COMPANY PRESENTATIONMarch 2019

2

DISCLAIMERFORWARD-LOOKING STATEMENTS & INFORMATION

This presentation contains forward-looking statements and forward-looking information within the meaning ofapplicable securities laws. The words “expected'', “estimated”, “scheduled”, “could”, “anticipated”, “long-term”,“opportunities”, “potential”, “continue”, “likely”, “may”, “will”, “positioned”, “possible”, “believe”, “expand” andvariations of these terms and similar expressions, or the negative of these terms or similar expressions, are intended toidentify forward-looking information or statements. But the absence of such words does not mean that a statement isnot forward-looking. Forward-looking information is based on the opinions, expectations and estimates of managementof Pyxis Tankers Inc. (“we”, “our” or “Pyxis”) at the date the information is made, and is based on a number ofassumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events orresults to differ materially from those projected in the forward-looking information. Although we believe that theexpectations 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 anyassurance that they will prove to be correct. Since forward-looking statements and information address future eventsand conditions, by their very nature they involve inherent risks and uncertainties and actual results and future eventscould differ materially from those anticipated or implied in such information. Factors that might cause or contribute tosuch discrepancy include, but are not limited to, the risk factors described in our Annual Report on Form 20-F for theyear ended December 31, 2017 and our other filings with the Securities and Exchange Commission (the “SEC”). Theforward-looking statements and information contained in this presentation are made as of the date hereof. We do notundertake any obligation to update publicly or revise any forward-looking statements or information, whether as a resultof new information, future events or otherwise, except in accordance with U.S. federal securities laws and otherapplicable securities laws.

This presentation and any oral statements made in connection with it are for informational purposes only and do notconstitute an offer to buy or sell our securities. For more complete information about us, you should read the informationin this presentation together with our filings with the SEC, which may be accessed at the SEC’s website(http://www.sec.gov).

3

COMPANY OVERVIEWEMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY

► Focus on modern medium range (“MR”) product tankers with “eco” features►Modern tanker fleet of six IMO-certified vessels - weighted average age of ~ 8.3 years►Management may pursue a sale or other long-term strategy relating to small tankers

Growth Oriented with Attractive, Modern Fleet

► Long-standing relationships with first-class customers worldwide►As of March 15, 44% for 2019 MR available days booked at average TCE of $14.8K►Positioned to capitalize when charter rates improve

Reputable Customer Base & Diversified

Chartering Strategy

►Disciplined fixed cost structure creates greater earnings power when rates improve►Competitive total daily operational costs to peer group► Balanced capitalization with moderate cost, long-lived funded debt► Earliest scheduled balloon payment due Q3 2022

Competitive Cost Structure & Moderate

Capitalization

► Strong mgmt. team with 90+ years of combined industry and capital markets experience► Founder/CEO has proven track record and is a major shareholder► Board members consist of respected industry figures and/or with significant experience

Experienced, Incentivized

Management& Prominent Board

► IMF’s global annual growth of 3.5% in 2020 should help demand to outpace supply► Lowest MR2 orderbook since 2000 with expected fleet growth (gross) of 5.5 % in 2019► Increased scrapping expected ~ 7% of global MR2 fleet 19 years old or more►New environmental regulations could negatively affect older vessels leading to further

scrapping as well as result in slow steaming and increased dry-dockings industry wide

Favorable Industry Fundamentals

Create Attractive Entry Point

4

FLEET & EMPLOYMENT OVERVIEWPOSITIONED FOR UPSIDE OPPORTUNITIES

Our mixed chartering strategy provides upside opportunities through spot trading when rates improve andstable, visible cash flows from time charters

Current Charter

Vessel Shipyard VesselType

CarryingCapacity

(dwt)Year Built Type of

CharterCharterrate (1)

EarliestRedelivery Date

Pyxis Epsilon (2) SPP / S.Korea MR 50,295 2015 Time $13,350 March 2019Pyxis Theta (3) SPP / S.Korea MR 51,795 2013 Time $13,800 May 2019Pyxis Malou(4) SPP / S.Korea MR 50,667 2009 n/a n/a n/aPyxis Delta Hyundai / S.Korea MR 46,616 2006 Time $12,800 March 2019Northsea Alpha (5) Kejin / China Small Tanker 8,615 2010 Spot n/a n/aNorthsea Beta (5) Kejin / China Small Tanker 8,647 2010 Spot n/a n/a

Total 216,635 Avg. Age 8.3 Years

Fleet

Det

ails

Fleet

Em

ploy

men

t O

verv

iew

(1) These tables are dated as of March 15, 2019 and show gross rates and do not reflect commissions payable.(2) Pyxis Epsilon is contracted to begin a new time charter on April 1, 2019 at a gross charter rate of $15,350/d for 12 months (+/- 30 days) with an additional 12 months (+/ - 30 days) at a gross

charter rate of $17,500/d at charterer’s option.(3) Pyxis Theta is contracted to begin a new time charter on June 1, 2019 at a gross charter rate of $15,375/d for 12 months (+/- 30 days) with an additional 12 months (+/- 30 days) at a gross

charter rate of $17,500/d at charterer’s option.(4) As of March 15, 2018, Pyxis Malou was performing her scheduled special survey but is contracted to begin a 6-8 month time charter (+/- 20 days) at a gross rate of $14,000/d.(5) Management may pursue sale or other long-term strategy for small tankers.

44% of the remaining days of 2019, are covered, exclusive of charters’ options

VesselJan Apr May Jun Jul Aug Sep Oct Nov

Pyxis Epsilon

Pyxis Theta

Pyxis Malou

Pyxis Delta

Northsea Alpha

Northsea Beta

Feb Mar

2019

SpotEmployment OpenDaysDrydockingDaysFixedEmployment CharterersOptionalPeriod

Dec

5

STRONG RELATIONSHIPSQUALITY VESSELS & OPERATIONS à BLUE CHIP CUSTOMERS à ATTRACTIVE LENDING TERMS

CUSTOMERS SENIOR LENDERSSHIPYARDS

6

SENIOR MANAGEMENT

► Joined Pyxis affiliates in 2008; 25+ 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 in 2015 and Pyxis Maritime Corp. in 2007► For the last 16 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

Konstantinos “Kostas” Lytras

Chief Operating Officer

Valentios “Eddie” Valentis

Chairman & CEO

Henry WilliamsCFO & Treasurer

DECADES OF EXPERIENCE

7

PYXIS ORGANIZATIONAL STRUCTURELEAN, EFFICIENT, SCALABLE ORGANIZATIONAL STRUCTURE

Administrative, Commercial & Ship Management Services (1)

Administrative, Commercial & Ship Management Fees

(1) As an affiliate, provides the commercial management for the fleet and supervises the crewing and technical management performed by ITM for all our vessels

(2) Provides technical management for all our vessels. ITM is a third party vessel manager, part of the VShips Group, the largest 3rd party ship manager provider in the world.

Technical Management (2)

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 @ ~ $755/day/vessel provide safe and efficient operating results compared to peers

8

► Expand fleet by targeting balanced capital structure of debt and equity►Maintain commercial lending and expand capital markets relationships

►Meet charterers’ preference for modern and eco tankers, which offer moreoperating reliability and efficiency

►Maintain high standards ensuring high level of safety, customer service and support►Continue solid margins and ship level financial discipline within Pyxis

► Focus on acquisition of IMO II and III MR2 class product tankers of eight years ofage or less built in Tier 1 Asian shipyards

►Prudently grow company size as soon as practical

Grow the Fleet Opportunistically

Maintain Financial Flexibility

Focus on the Needs of our Customers

COMPANY STRATEGYFOCUS ON QUALITY, GROWTH, SERVICE & FINANCIAL FLEXIBILITY

► Employ mixed chartering strategy between time and spot►Maintain optionality – spot exposure offers upside during periods of market strength►Diversify charters by customer and staggered duration

Utilize Portfolio Approach to Commercial

Management

MARKET OVERVIEWPRODUCT TANKER INDUSTRY

10

REFINED PRODUCTS OVERVIEW

Petroleum Products

Bitumen

Fuel Oil

Cycle Oils

Diesel/Gasoil

Kerosene

Gasolines

Clean Condensates

Naphthas

Other Bulk LiquidsVegetable Oils & Organic Chemicals

DirtyProducts

Clean Products

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 (except possibly maiden voyage).

Non-oil substances now covered by revised IBC Code. To carry chemicals, an IMO Certificate of Fitness is required.

PRODUCT CARRYING VERSATILITY

Veg Oil/Light Chemicals

Source: Drewry, January 2019

11

1,500

1,700

1,900

2,100

2,300

2,500

2,700

2,900

3,100

3,300

600

650

700

750

800

850

900

950

1,000

1,050

1,100

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018*

Seaborne Product Trade - Million Tons (Left Hand Scale) Ton Mile Demand - Billion Ton Miles (Right Hand Scale)

CHANGING TRADE ROUTES & PETROLEUM REFINERY LANDSCAPE CREATING INCREMENTAL DEMAND

Source: Drewry, March 2019

* Compound annual growth rate

** Provisional estimate

Increases in Demand due to Changing Trade Routes & Refining Landscape

2.9% CAGR* in million tons of seaborne trade2.5% CAGR in ton mile demand

**

12

EVOLVING TRADE ROUTES WITH TON MILES INCREASING

Source: Drewry, March 2019

• Growth in net refining capacity expected to further drive demand for product tankers• Lower crude / feedstock prices generate incremental refinery demand• Arbitrage between markets create further opportunities• Emerging, growing markets in Latin America and Africa have little refining capacity• U.S. exports to Latin America have grown at CAGR of ~14.3% from 2005 to 2018

Major Long – haul MR2 Trade Routes

13

U.S. HAS BECOME MAJOR EXPORTER OF REFINED PRODUCTS

Millio

n Ba

rrels

per D

ay A

dditio

ns

Increase of refined product exports due to proliferation of shale oil production

Source: Drewry, March 2019

0. 00

1. 00

2. 00

3. 00

4. 00

5. 00

6. 00

Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19

United S ta tes S audi A rabia I ndia

14

REFINERY CAPACITY ADDITIONS FURTHER AWAY FROM END USERS à BOOSTING TON-MILE DEMAND

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

Millio

n Ba

rrels

per D

ay

Source: Drewry, March 2019

0.0

0.5

1.0

1.5

2.0

2019 2020 2021 2022 2023

15

DECLINING MR2 ORDER BOOK

• Total MR2 vessel orderbook has fallen from ~48% high in 2007 of the then existing fleet to 7.1% (118MR2 vessels)of the worldwide fleet

• Low ordering – 43 MR2’s in LTM ended Feb. 2019 (2.6% of global fleet)• Limited capacity additions scheduled beyond 2019 of 44 MR2’s due to continued limited availability

of cost-effective capital

• Worldwide MR2 fleet is expected to grow at an average of less than 3.5% (gross) per annum in 2019and 2020, without giving effect to scrapping of older vessels and slippage of deliveries

• Slippage of 17.9% in 2018 for new build MR2 deliveries

Expected Delivery Schedule

Num

ber o

f Ves

sels

Source: Drewry, March 2019

0102030405060708090

100

Medium Range 2 (MR2)

2019 2020 2021+

16

MR2 SCRAPPING EXPECTED TO INCREASE

GlobalFleetAgeDistributionbyTonnage

• Average age of MR2 fleet is 10.2 years• 93 MR2 vessels (5.6%) are 20 years old or more

• 21 MR2 (1.3%) scrapped in 2018• Sizeable portion of the fleet is approaching end of its useful life - future supply will affect

replacement ability

• New environmental regulations should drive more scrappingSource: Drewry, March 2019

0%

5%

10%

15%

20%

25%

30%

35%

<5yrs 5-10yrs

10-15yrs

15-20yrs

20-25yrs

25+yrs

MR2

17

► Environmental regulations should lead to increased scrapping• Force owners to either scrap earlier or make significant vessel capital

expenditures to remain operationally competitive• 122 MR2 (7.3% of world fleet) are 19 year old +

► Ballast Water Treatment System (“BWTS”)• Ballast sea water is used to stabilize vessels and ensure structural integrity;

pumped before/after cargo is loaded/unloaded• Starting September 2019 at vessel’s next special survey, owners will have to

install approved BWTS, which removes inactive organisms from ballast waterprior to discharge

• Retrofits in older tankers can be challenging and costly• Depending on vessel, fully loaded installation costs expected to be between

$0.5 million to $0.6 million for a standard MR tanker

► New stricter regulations on sulfur emissions starting January 2020• Limits reduced from 3.5% to 0.5%• MR2 owners either i) install expensive scrubber ($1.5-2.0 million cost vs. ~$4.0

million vessel scrap value) to burn current grade of fuel, or ii) pay sizeablepremium (currently up to $220 per ton or $6,600 per day) to burn marine gas oil(MGO) or LSFO and run vessel at slower speed

NEW ENVIRONMENTAL REGULATIONS TO DRIVE MORE SCRAPPING

Source: Drewry, March 2019

18

Mar.09-Feb.19 MR2 Avg. Rate

Average $14,058

Low $10,800

High $19,500

Feb. 2019 $13,500

Jan.09-Feb.19 MR2 Avg. Rate

Average $10,880

Low $1,100

High $26,700

Feb. 2019 $14,000

MR2 CHARTER RATES POSITIONED FOR REBOUND

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

1 Year MR2 Time Charter Equivalent Rates *

Source: Drewry, March 2019

* Please see Exhibit II- Definitions

USD

per

Day

USD

per

Day

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

2015 2016 2017 2018 2019YTD 10 Year Average

0

5,000

10,000

15,000

20,000

25,000

Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18

MR2 10YearAverage

19

MODERATE MR2 ASSET VALUES CREATE ATTRACTIVE ENTRY POINT

MR2 Asset Prices

USD

Millio

n

* Source: Drewry, March 2019, excludes Jones Act vessels

** Tier III vessel, exclusive of higher design specifications, yard supervision costs and spares

Type ($ million) Current *10 Yr.

Average * DifferenceNew Build (delivery Late’20) ** $36.0 $36.9 (2.4%)

5 yr. old 28.0 28.6 (2.1%)

10 yr. old 18.0 20.2 (10.9%)

1015202530354045

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

NB Price NB Price Average 09-19

SH Price - 5 Yrs Old SH Price 5 Yrs old Average 09-19

SH Price - 10 Yrs Old SH Price 10 Yrs old Average 09-19

PYXIS TANKERSFINANCIAL HIGHLIGHTS

21

CAPITALIZATION AT DECEMBER 31, 2018

• Weighted average interest rate of total debt for the year ended December 31, 2018 was6%; 43% of outstanding debt had fixed interest rate, excluding $10 million interest ratecap

Moderateleverage atreasonable

interest costs

No bank balloon payments

scheduled until Q3 2023

At December 31,2018

In ‘000 USD

Cash and cash equivalents, including restricted cash $ 4,204

Bank debt, net of deferred financing fees 62,462Promissory note 5,000Total funded debt $ 67,462

Stockholders' equity 39,943Total capitalization $ 107,405

Net funded debt $ 63,258

Total funded debt / total capitalization 62.8%Net funded debt / total capitalization 58.9%

22

MANAGEMENT INCENTIVIZED TO ACHIEVE GROWTHFOUNDER/CEO’S SUBSTANTIAL SHAREHOLDINGS

► Common shares listed on NASDAQ Capital Market under trading symbol “PXS”

► The shareholder base as of December 31, 2018:

§ Maritime Investors Corp. 17,033,927 (80.9% of outstanding)§ Public Float 4,026,263 (19.1%)

§ Total Shares Outstanding 21,060,190 (100%)

► Our Founder/CEO’s substantial shareholdings and interests are aligned with our shareholders

23

INVESTMENT HIGHLIGHTSEMERGING GROWTH - PURE PLAY PRODUCT TANKER COMPANY

Growth Oriented with Attractive,

Modern Eco Fleet

Reputable Customer Base &

Diversified Chartering Strategy

Competitive Cost Structure & Moderate

Capitalization

Experienced, Incentivized

Management & Prominent Board

Favorable Industry Fundamentals

Create Attractive Entry Point with

Upside

NON-GAAP DEFINITIONSEXHIBIT I

25

EXHIBIT I | NON-GAAP DEFINITIONS

Daily time charter equivalent (“TCE”) is a shipping industry performance measure of the average daily revenue performance of avessel on a per voyage basis. TCE is not calculated in accordance with U.S. GAAP. We utilize TCE because we believe it is ameaningful 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. Ourmanagement also utilizes TCE to assist them in making decisions regarding employment of the vessels. We calculate TCE by dividingvoyage revenues after deducting voyage related costs and commissions by operating days for the relevant period. Voyagerelated costs and commissions primarily consist of brokerage commissions, port, canal and fuel costs that are unique to a particularvoyage, which would otherwise be paid by the charterer under a time charter contract.

Vessel operating expenses (“Opex”) per day are our vessel operating expenses for a vessel, which primarily consist of crew wagesand related costs, insurance, lube oils, communications, spares and consumables, tonnage taxes as well as repairs andmaintenance, divided by the ownership days in the applicable period.

We define total daily operational costs as vessel Opex, technical and commercial management fees plus allocable general andadministrative expenses, applied on a daily basis, typically in comparison of our eco-efficient and eco-modified MR’s. These costscan vary by fleet composition, vessel delivery, operating structure and management organization.

26

CONTACT

Pyxis Tankers Inc.K. Karamanli 59 Maroussi 15125, GreeceEmail: info@pyxistankers.comwww.pyxistankers.com

Henry WilliamsCFO & TreasurerPhone: +1 516 455 0106/ +30 210 638 0200Email: hwilliams@pyxistankers.com