Navig8 Chemical Tankers Inc. Reports Results for the Three and Twelve Months Ended December 31, 2015

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1 NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND THE DISTRICT OF COLUMBIA) OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL Navig8 Chemical Tankers Inc. Reports Results for the Three and Twelve Months Ended December 31, 2015 February 9, 2016 Navig8 Chemical Tankers Inc. (the Company ) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced its unaudited financial and operating results for the three and twelve months ended December 31, Highlights Revenue of $35.3 million and net income of $9.1 million, or $0.24 per share, for the three months ended December 31, Entered into contracts to purchase five IMO2 49,000 DWT chemical tankers at STX Offshore & Shipbuilding with options to purchase five additional sister ships. Signed $52 million debt facility with DVB Bank SE to finance the purchase of two ECO 49,000 DWT chemical tankers on bareboat charter, one of which was purchased by the Company in December Continued growth of the Company s operating fleet with the delivery of 2 vessels; 19 vessels of the Company s 37-vessel newbuilding fleet had been delivered as of December 31, All delivered vessels have been deployed in pools managed by the Navig8 Group. We are pleased to report strong earnings results on the back of additional deliveries in our newbuilding program. Greater than half of our fleet has now been delivered, and we are beginning to generate substantial revenue, said Nicolas Busch, Chief Executive Office of Navig8 Chemical Tankers Inc. The increasing acceptance of vessels with Interline coatings among leading chemical industry participants as well as the continued increase in long-haul petrochemical trades, particularly the growing movement of methanol cargoes from the Caribbean and U.S. Gulf to Asia, has us very optimistic about our strategic position. We remain bullish on our outlook for increasing long-haul trades as additional chemical manufacturing capacity comes online in the U.S. and Middle East and China transitions from an industrial to a consumer led economy. We reaffirmed our commitment to this investment thesis by entering into contracts to purchase four IMO2 49,000 DWT Interline coated tankers in October and exercising an option to purchase a fifth sister ship in December.

2 Fleet Update The Company has entered into contracts to acquire 37 modern, fuel-efficient newbuilding chemical tankers. As of the date of this press release, 20 of these vessels have been delivered and are in operation. The fleet is scheduled to be fully delivered by September Eight additional vessels are scheduled to be delivered during the remainder of 2016, and the final nine in Upon their respective deliveries, the Company s vessels will be deployed in commercial pools managed by the Navig8 Group, including the Chronos8, Delta8 and Stainless8 pools. The Company s newbuilding fleet is composed of: Eighteen IMO2 37,000 DWT Interline coated tankers built at Hyundai Mipo, Korea ( A-Class vessels ), all of which have been delivered. The A-Class vessels have been deployed in the Delta8 pool. The Company took delivery of two A-Class vessels during the three months ended December 31, 2015 and its final A-Class vessel in January Nine IMO2 49,000 DWT Interline coated medium range tankers ( T-Class vessels ) built at STX Offshore & Shipbuilding Co., Ltd. in Korea ( STX ). In October 2015, the Company entered into contracts to purchase four T-Class vessels to be built to the same technical specifications as the Company s preexisting orders with STX, including the capability to transport methanol and other specialty cargoes. The Company also announced that it had secured options to purchase six additional sister vessels from STX (each, an Option vessel ). In December 2015, the Company announced that it had exercised an option to acquire, and entered into a contract to purchase, an Option vessel. The Company s nine T- Class vessels will be deployed in the Chronos8 pool. The Company expects four T-Class vessels to be delivered between April and September 2016 and the remaining five by June Two IMO2 49,000 DWT Epoxy coated medium range tankers built at Hyundai, Vinashin ( V-Class vessels ). Both V-Class vessels were delivered on bareboat charters in the first quarter of 2015; the Company purchased one of these vessels pursuant to its purchase obligation in December 2015 and expects to purchase the other vessel in the first quarter of The V-Class vessels are currently deployed in the Chronos8 pool. Eight IMO2 25,000 DWT stainless steel tankers built at Kitanihon and Fukuoka (Japan) ( S-Class vessels ). The S-Class vessels will be deployed in the Stainless8 pool. The Company expects four S-Class vessels to be delivered in 2016 and the remaining four by September Financing Update The two V-Class vessels, the Navig8 Victoria and the Navig8 Violette, were delivered to the Company earlier in 2015 under 12-month bareboat charters, which commenced at their respective delivery dates, with purchase obligations at the end of the charters. In December 2015, the Company entered into a $52 million debt facility to finance the purchase of the two V-Class vessels pursuant to its purchase obligations upon expiry of their bareboat charters. The loan facility covers approximately 65% of the purchase price of the vessels, and has been provided by DVB Bank SE. The Company took ownership of the Navig8 Victoria in December 2015 and expects to take ownership of the Navig8 Violette in March 2016.

3 The Company expects to have financing in place for the unfinanced T-Class and S-Class vessels well ahead of the respective deliveries. Results for the three months ended December 31, 2015 and 2014 For the three months ended December 31, 2015, the Company reported net income of $9.1 million, or $0.24 per share, an increase of $11.1 million from a net loss of $2.0 million for the three months ended December 31, 2014, when the Company had not yet taken delivery of any of the vessels in its newbuilding program. Results for the twelve months ended December 31, 2015 and 2014 For the twelve months ended December 31, 2015, the Company reported net income of $20.7 million, or $0.54 per share, an increase of $25.3 million from a net loss of $4.6 million for the twelve months ended December 31, Management s Discussion and Analysis of Financial Results Revenue for the three months ended December 31, 2015 was $35.3 million, compared to no revenue for the three months ended December 31, The total number of vessel operating days for the three months ended December 31, 2015 was 1,682, compared to 1,283 for the three months ended September 30, 2015 and zero for the three months ended December 31, The gross average daily time charter equivalent ("TCE") (1) earned by the A-Class vessels and the V-Class vessels in the three months ended December 31, 2015, were $21,654 per day and $21,440 per day, respectively. The Company had 19 vessels operating during the three months ended December 31, 2015, all of which operate in pools from which they derive TCE revenue. Vessel operating expenses were $10.3 million for the three months ended December 31, 2015, an increase of $10.3 million from the three months ended December 31, 2014, when the Company had not yet taken delivery of any of the vessels in its newbuilding program. Average fleet operating costs per day, including technical management fees, were approximately $5,441 for the three months ended December 31, Depreciation expense for the three months ended December 31, 2015 was $6.6 million, an increase of $6.6 million compared to the three months ended December 31, This is due to the Company beginning to depreciate vessels in its newbuilding fleet as they are delivered. General and administrative expenses for the three months ended December 31, 2015, were $2.3 million, an increase of $0.2 million from $2.0 million for the three months ended December 31, This increase is related to the growing size of the Company s fleet and hence various management and general administrative costs. Interest expense for the three months ended December 31, 2015 was $7.0 million, as compared to no interest expense in the three months ended December 31, 2014, when the Company had not yet taken delivery of any of the vessels in its newbuilding program. (1) Time charter equivalent, a non-us GAAP measure, is vessel revenues less voyage expenses (including bunkers and port charges but excluding pool commission).

4 Conference Call On February 11, 2016 at 2:00PM GMT, the Company s management team will host a conference call to discuss its results for the three months ended December 31, Participant should dial into the call 10 minutes before the scheduled time using the following number: (UK Toll Free Dial In) or +44 (0) (Standard International Dial In). Please inform the operator you wish to listen to the Navig8 Chemical Tankers Inc. conference call. A telephonic replay of the conference call will be available until February 18, 2016 by dialing +44 (0) (Standard International Dial In) and using access code Slides and Webcast There will also be a live webcast of the conference call and slide presentation, available through the Company s website ( Participants on the live webcast should register on the website approximately 10 minutes before the start of the webcast. About Navig8 Chemical Tankers Inc. Navig8 Chemical Tankers Inc. was established in 2013 as a joint venture between the Navig8 Group and Oaktree Capital Management to capitalize on significant structural changes in the petrochemical industry and the continuing development of long-haul chemical trades. Its best-in-class newbuilding fleet is comprised exclusively of large, fuel-efficient vessels with modern eco-designs to take greatest advantage of these shifts. The fully delivered fleet will feature a complementary mix of primarily Interline-coated and stainless steel vessels that are capable of servicing the full range of conventional and specialized chemicals cargoes. The Company has taken delivery of 20 chemical carriers and anticipates delivery of its full 37-vessel fleet by Q The Company s fleet is contracted to operate in various chemical tanker pools managed by the Navig8 Group, the world s largest independent pool and commercial management company. Navig8 Chemical Tankers Inc. is listed on the Norwegian OTC market under the symbol CHEMS. For Further Information, Please Contact: Nicolas Busch: Chief Executive Officer Rose & Company: or navig8chems@rosecoglobal.com Visit our website:

5 NAVIG8 CHEMICAL TANKERS INC. AND SUBSIDIARIES OTHER OPERATING DATA (Unaudited) Fourth Quarter 2015 Third Quarter k DWT HMD Vessels ("A-Class") 49k DWT Vinashin Vessels ("V-Class") 37k DWT HMD Vessels ("A-Class") 49k DWT Vinashin Vessels ("V-Class") Vessels on the water at the end of the month Total operating days 1, , Average distributed Gross TCE in $ / day 21,654 21,440 22,958 24,052 Average OPEX in $ / day 5,437 5,473 5,275 5,502

6 NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the three months ended 31 Dec For the twelve months ended 31 Dec All in US$000, unless otherwise stated Operating revenue Vessel revenue $35,263 - $81,654 - Operating expenses Vessel expenses (10,256) - (23,502) - Depreciation and amortization (6,631) - (15,780) - General and administrative expenses (2,254) (2,016) (7,514) (4,689) Total operating expenses (19,141) (2,016) (46,796) (4,689) Net operating income/(loss) $16,122 ($2,016) $34,858 ($4,689) Financial Items Interest income Interest expense (7,014) - (14,252) - Other financial items (6) - (6) - Net financial items (7,000) 49 (14,193) 83 Net income/(loss) $9,122 ($1,967) $20,665 ($4,606) Earnings per common share: Basic $0.24 ($0.06) $0.54 ($0.20) Diluted $0.24 ($0.06) $0.54 ($0.20) EBITDA: Net income/(loss) $9,122 ($1,967) $20,665 ($4,606) Depreciation and amortization (6,631) - (15,780) - Interest income Interest expense (7,014) - (14,252) - Other financial items ($6) $0 ($6) $0 EBITDA $22,753 ($2,016) $50,638 ($4,689)

7 NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) All in US$000, unless otherwise stated Assets Current assets As at 31 December 2015 As at 31 December 2014 Cash and cash equivalents $18,438 $40,405 Trade receivables 15,161 0 Prepaid expenses and other assets 10, Inventories 2,008 0 Total current assets $46,504 $40,430 Non-current assets Restricted cash 16,000 - Vessels, net 663,891 - Vessels, capital lease 41,262 - Vessels under construction 147, ,826 Vessel related deposits - 9,154 Total non-current assets $868,658 $293,980 Total assets $915,162 $334,410 Liabilities and shareholders equity Current liabilities Obligations under capital lease 36,149 - Current portion of loans, net of unamortised debt issuance cost 56,281 - Accounts payables and accrued expenses 13, Total current liabilities $106,257 $984 Non-current liabilities Long-term loans, net of unamortised debt issuance cost 389,984 - Total liabilities $496,241 $984 Shareholders equity Common stock Paid-in capital 403, ,868 Retained earnings / (deficit) 14,895 (5,770) Total shareholders equity 418, ,426 Total liabilities and shareholders equity $915,162 $334,410

8 NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) For the twelve months ended 31 December All in US$000, unless otherwise stated Operating activities: Net income/ (loss) $20,665 ($4,606) Adjustments to reconcile net income / (loss) to net cash provided by (used in) operating activities: Depreciation of vessels 15,780 - Amortisation of debt issuance costs Changes in operating assets and liabilities: Trade receivables (15,161) - Prepaid expenses and other assets (10,871) (25) Inventories (2,008) - Accounts payables Accrued expenses 5,057 (533) Net cash used in operating activities 14,047 (4,789) Investing activities Changes in restricted cash (16,000) - Payments for vessels under construction (490,310) (201,219) Payments for vessels, capital lease (1,852) - Payments for vessels (1,596) - Vessel related deposits 500 (9,154) Net cash used in investing activities (509,258) (210,373) Financing activities Proceeds from issuance of common stock 64, ,556 Proceeds from loans, net of debt issuance costs 460,746 - Repayment of loans (13,785) - Payment of obligation under finance lease (38,547) - Net cash provided by financing activities 473, ,556 Increase in cash and cash equivalents (21,967) 40,394 Cash and cash equivalents, beginning of year 40, Cash and cash equivalents, end of year $18,438 $40,405

9 Fleet List as of February 9, 2016 Name DWT Yard Built Status Delivered Vessels 1 Navig8 Victoria 49,000 Hyundai Vinashin Q Delivered 2 Navig8 Violette 49,000 Hyundai Vinashin Q Delivered 3 Navig8 Almandine 37,000 Hyundai Mipo Q Delivered 4 Navig8 Amber 37,000 Hyundai Mipo Q Delivered 5 Navig8 Amethyst 37,000 Hyundai Mipo Q Delivered 6 Navig8 Ametrine 37,000 Hyundai Mipo Q Delivered 7 Navig8 Aventurine 37,000 Hyundai Mipo Q Delivered 8 Navig8 Andesine 37,000 Hyundai Mipo Q Delivered 9 Navig8 Aronaldo 37,000 Hyundai Mipo Q Delivered 10 Navig8 Aquamarine 37,000 Hyundai Mipo Q Delivered 11 Navig8 Amazonite 37,000 Hyundai Mipo Q Delivered 12 Navig8 Amessi 37,000 Hyundai Mipo Q Delivered 13 Navig8 Ammolite 37,000 Hyundai Mipo Q Delivered 14 Navig8 Axinite 37,000 Hyundai Mipo Q Delivered 15 Navig8 Azotic 37,000 Hyundai Mipo Q Delivered 16 Navig8 Adamite 37,000 Hyundai Mipo Q Delivered 17 Navig8 Azurite 37,000 Hyundai Mipo Q Delivered 18 Navig8 Aragonite 37,000 Hyundai Mipo Q Delivered 19 Navig8 Alabaster 37,000 Hyundai Mipo Q Delivered 20 Navig8 Achroite 37,000 Hyundai Mipo Q12016 Delivered Newbuildings 1 Navig8 Turquoise 49,000 STX Q On order 2 Navig8 Topaz 49,000 STX Q On order 3 Navig8 Tourmaline 49,000 STX Q On order 4 Navig8 Tanzanite 49,000 STX Q On order 5 Navig8 Sirius 25,000 Kitanihon Q On order 6 Navig8 Sky 25,000 Kitanihon Q On order 7 Navig8 Spark 25,000 Kitanihon Q On order 8 Navig8 Stellar 25,000 Kitanihon Q On order 9 Navig8 Saiph 25,000 Kitanihon Q On order 10 Navig8 Sceptrum 25,000 Kitanihon Q On order 11 Navig8 Spica 25,000 Fukuoka Q On order 12 Navig8 Sol 25,000 Fukuoka Q On order 13 N8CT N/B 49,000 STX Q On order 14 N8CT N/B 49,000 STX Q On order 15 N8CT N/B 49,000 STX Q On order 16 N8CT N/B 49,000 STX Q On order 17 N8CT N/B 49,000 STX Q On order

10 Forward-Looking Statements and Distribution This press release contains forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Navig8 Chemical Tankers Inc. management's examination of historical operating trends. Although the Company believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Navig8 Chemical Tankers Inc. cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in this press release include the strength of world economies and currencies, general market conditions including fluctuations in charter hire rates and vessel values, changes in demand in the tanker market as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in the Company's operating expenses including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. This communication is not for publication or distribution, directly or indirectly, in or into any state or jurisdiction into which doing so would be unlawful. The distribution of this communication may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes, should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdictions. The Company assumes no responsibility in the event there is a violation by any person of such restrictions.