Today s Presenters. Spyros Gianniotis Chief Financial Officer. Justin Yagerman Senior Vice President Investor Relations and Business Strategy

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2 Today s Presenters Jonathan McIlroy President Spyros Gianniotis Chief Financial Officer Justin Yagerman Senior Vice President Investor Relations and Business Strategy 2

3 Who We Are Q3 Performance Overview Jonathan McIlroy President

4 Q Results (1) (2) (3) 3q16 2q17 3q17 YoY % QoQ% Sales Volumes (MT) 4,258,954 4,474,494 4,139,624 (2.8%) (7.5%) Gross Profit $88,440 $82,246 $67,855 (23.2%) (17.5%) Operating Expense $62,040 $66,080 $61,152 (1.4%) (7.5%) Net Income/(Loss) $17,656 $1,656 ($3,802) (151.5%) (329.6%) EPS $0.38 $0.04 ($0.10) (126.3%) (350.0%) EBITDA $37,651 $24,139 $15,133 (59.8%) (37.3%) Gross Spread per MT $18.60 $16.80 $14.60 (21.5%) (13.1%) EBITDA per MT $8.84 $5.39 $3.66 (58.6%) (32.1%) (1) All amounts are in thousands of USD unless otherwise specified. (2) Gross Profit = Total Revenue Total Cost of Sales (3) Figures adjusted for one-time loss/gain on sale or impairment of assets as necessary. 4

5 Market Overview and Developments Global Bunker Market Challenges and Opportunity Intense competition persists on a global level Clear signs of distress among other suppliers Consolidation continues at a slow pace Emissions regulations set to change the landscape in 2020 Volatile Shipping Markets Despite modest improvement, freight rates remain low In most market segments spot and short-term employment is predominant Vessel operators remain extremely cost conscious working hard to obtain cheaper marine fuel supply in every port of call Localized Issues Outsized Impacts Refinery fires and severe weather resulted in outsized impacts in the Americas and other niche markets affecting supply costs and hedging 5

6 Company Highlights Financial Highlights Sales volumes impacted primarily by deliberate reductions in Singapore and Fujairah markets Weather conditions in N. America and niche markets negatively impacted both volumes and margins Profitability impacted by continued margin pressure in a very competitive marketplace and outsized effects of local issues in the Americas Fire and outages at Salina Cruz refinery resulted in significantly increased procurement costs in Los Angeles/Long Beach market and drove up cargo prices in the Caribbean - Refinery now operational Hurricane impacted trade flows in the Caribbean and off-shore US Gulf with pricing impact across the Americas Brent/Fuel Oil price dislocation - Widening of spread between Brent crude and fuel oil at quarter end resulted in hedging impact - Impacts are noncash in the quarter and spreads have narrowed to a more normalized range 6

7 Company Highlights Operational Highlights Delivering on Continued Cost Reductions Achieved and exceeded $20 million annual cost reduction goal Delivering on optimizing asset redeployment and geographic mix Closed loss making Singapore service station Rationalized Los Angeles storage facility Optimized fleet operations in Gibraltar Re-chartered chartered-out vessels Commenced new operations in St. Croix and Savannah 7

8 Who We Are Financial Performance Spyros Gianniotis CFO

9 Q Results (1) (2) (3) Year-on-Year Comparison 3q17 3q16 YoY % Sales Volumes (MT) 4,139,624 4,258,954 (2.8)% (2) Gross Profit $67,885 $88,440 (23.2)% EBITDA $15,133 $37,651 (59.8)% Operating Income $6,733 $26,400 (74.5)% Net Income/(Loss) $(3,802) $17,656 (121.5)% Quarter-on-Quarter Comparison 3q17 2q17 QoQ % Sales Volumes (MT) 4,139,624 4,474,494 (7.5)% (2) Gross Profit $67,885 $82,246 (17.5)% EBITDA $15,133 $24,139 (37.3)% Operating Income $6,733 $16,166 (58.4)% Net Income/(Loss) $(3,802) $1,656 (329.6)% (1) All amounts are in thousands of USD unless otherwise specified. (2) Gross Profit = Total Revenue Total Cost of Sales (3) Figures adjusted for one-time loss/gain on sale or impairment of assets as necessary. 9

10 Sales Volume (mt) Spread per Metric Ton Gross Profit Drivers 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 $30 $25 $20 $15 $10 $5 $- Volumes Gross Spread EBITDA per MT Note: Figures are adjusted for one-time gain/loss on sale of assets, subsidiary accelerated vesting of the shares of Aegean s founder Metrics Q Q Q Sales Volume (MT) 4,139,624 4,474,494 4,258,954 Gross Spread/MT $14.6 $16.8 $18.6 EBITDA/MT $3.66 $5.39 $

11 Income Statement 3Q16 2Q17 3Q17 Total Revenues $ 1,139,556 $ 1,440,659 $ 1,344,125 Total Cost of Sales (1,051,116) (1,358,413) (1,276,240) Gross Profit 88,440 82,246 67,885 Operating Expenses 65,915 66,013 61,125 Operating Income 22,525 16,233 6,760 Other Expenses (8,440) (14,426) (12,220) Income Tax (Expense)/Benefit (3,456) (93) 1,720 Net Income/(Loss) attributable to non-controlling interest 78 (9) 35 Net Income/(Loss) attributable to AMPNI $ 10,551 $ 1,723 $ (3,775) EPS $ 0.22 $ 0.04 $ (0.10) Decreased sales volumes and gross spread contributed to lower gross profit levels. Competition continues to pressure margins downward Impact of extraordinary events impacted results in the Americas Vessel charter revenue and storage revenue down slightly quarter-over-quarter Operating Expense decreased approximately $5m quarter-over-quarter and year-over-year as cost cutting measures have been implemented across the system Income tax gain from year-to-date reconciliation of actual to deferred taxes 11

12 Millions Strong Liquidity & Capital Structure Debt Analysis 3Q17 Working capital debt $ 645,446 + Fixed asset debt 230,678 = Total Debt $ 876,124 Net Debt Total Debt $ 876,124 Cash position decreased slightly to $74.8 vs $82.5 in 2Q Receivables and inventory increased QoQ as oil prices moved upwards Total Debt increased $16mm to $876mm Net Debt decreased to $6mm from $25mm in 2Q $14.8mm cash used in operations as oil prices increased during the quarter + Trade payables 133,572 - Cash 74,828 - Trade receivables, net 583,795 - Inventory 236,267 - Other current assets 108,600 = Net Debt $ 6,206 Net Debt $140 $120 $100 $80 $60 $40 $20 $0 12

13 Strategic Initiatives Jonathan McIlroy President

14 Delivering on Strategic Initiatives Solid progress towards achieving 2017 goals Reducing Cost, Rationalizing/Optimizing presence in key operating hubs & Maximizing asset utilization Concrete steps taken during the quarter Singapore Closed down physical presence but maintain trading operations Gibraltar Rationalized barge operations; substituted 2 barges with larger ones; took one smaller barge out - Better asset mix and fleet utilization Los Angeles Storage Facility Will vacate current facility in 2018 downscaling capacity to utilization levels Abandon low margin business and focus on higher profit opportunities Fleet Deployment Continue fleet rationalization Expansion into new more profitable markets Savannah and St. Croix with more to come 14

15 Expense Reduction Achieved $24mm of $20mm annual cost reduction initiative Fleet Rationalization - $7m per year 9 available vessels for short/long term charter 5 vessels in lay-up Storage Rationalization - Los Angeles Market - $9 million / year Right-sized storage capacity to maintain market positon while reducing overhead Ability to pursue higher margin business G&A reduction - $8 million / year Strategic decision to cease physical supply in Singapore market Maintaining back-to-back presence Realized Annual Cost Reductions Millions $25 $20 $15 $10 $5 $- GOAL Vessel Storage G&A 15

16 Strategic Initiatives Looking Forward Continued expense reduction moving the goal post to $30 million in annualized savings up from $20 million Additional opportunity to right-size/rationalize global business Business Development Right-sizing of our infrastructure enables us to focus on higher margin business Several possible growth opportunities being developed Expect to enter at least one new market within first half of

17 Closing Remarks Jonathan McIlroy President

18 Cautionary Statement This presentation contains forward-looking statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements and we desire to take advantage of such safe harbor legislation. The forward-looking statements in this report are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Important assumptions relating to the forward-looking statements include, among other things, assumptions regarding demand for our products, the cost and availability of refined marine fuel from suppliers, pricing levels, the timing and cost of capital expenditures, competitive conditions, and general economic conditions. These assumptions could prove inaccurate. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. For a more comprehensive discussion of the risk factors affecting our business please see our Annual Report on Form 20-F and other reports filed with the U.S. Securities and Exchange Commission, a copy of which can be found on our website Unless required by law, we disclaim any obligation to update any forward-looking statements contained in this presentation, whether as a result of new information, future events, a change in our views or expatiations, to conform them to actual results or otherwise. In addition, this presentation contains unaudited financial information related to our financial statements. The information provided is for indicative purposes only. Unless required by law, we undertake no obligation to update or revise any such information. Non-GAAP Financial Measures Within this presentation, the Company makes reference to certain non-gaap financial measures, which have directly comparable GAAP financial measures as identified in this presentation. These non-gaap measures are provided because they are used as standard metrics by the investment community. We believe these measures will assist the investment community in properly assessing the underlying performance of the Company. 18

19 Contact Details Company Aegean Marine Petroleum Network Inc. Tel Investor Relations/Media Advisor Nicolas Bornozis/Daniela Guerrero Tel Company Website 19

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