Navig8 Chemical Tankers Inc. Reports Results for the Three and Six Months Ended June 30, 2018

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 Six Months Ended June 30, 2018 August 14, 2018 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 six months ended June 30, 2018. Highlights Generated revenue of $40.4 million and net loss of $5.7 million, or $0.15 per share, for the three months ended June 30, 2018. Generated EBITDA of $20.1 million for the three months ended June 30, 2018 While there was a noteworthy level of chemical and product market movements out of the Middle East, combining both COA-related and spot volumes, weaker activity levels in other core trading regions resulted in an unremarkable chemical tanker market in the second quarter, said Nicolas Busch, Chief Executive Officer of Navig8 Chemical Tankers, Inc. We expect the Middle East market to remain relatively firm in the near-term. Coupled with some positive early signs of market improvement in the third quarter, significant new petrochemical infrastructure demand emerging in the US Gulf and demonstrably low orderbook growth, we are constructive on the earnings landscape for the Company over the balance of the year. Having spent considerable time marketing the capabilities of the Company s fleet, whether in terms of capacity or enhanced coatings, we are firmly of the belief that recent and upcoming developments in chemicals production/transportation position the Company s fleet very well to maximise its competitive advantage. Fleet Update All the Company s vessels are deployed in commercial pools managed by Navig8 Group except for one S-Class Vessel, which is commercially managed by Navig8 Group and has been employed on timecharter to a third party since December 2017. The Company s fleet is fully operational and comprises: Eighteen IMO2 37,000 DWT Interline-coated tankers built at Hyundai Mipo, Korea ( A-Class ); Four IMO2 49,000 DWT Interline-coated medium-range tankers ( T-Class ) built at STX Offshore & Shipbuilding Co., Ltd. ( STX ); Two IMO2 49,000 DWT Epoxy-coated medium range tankers built at Hyundai Vinashin ( V- Class ); and, Six IMO2 25,000 DWT stainless steel tankers built at Kitanihon Shipbuilding Co. Ltd and two IMO2 25,000 DWT stainless steel tankers built at Fukuoka (Japan) (together, S-Class ). 1

Results for the three months ended June 30, 2018 For the three months ended June 30, 2018, the Company reported a net loss of $5.7 million, or $0.15 per share, compared to a net loss of $3.6 million, or $0.09 per share, for the three months ended June 30, 2017. The increase in net loss is mainly attributable to lower gross average daily time charter equivalent ( TCE )¹ rates achieved by the A-Class and S-Class in the three months ended June 30, 2018, partially offset by an increase in total operating days compared to the same period in the prior year, and year-on-year increases in vessel operating expense, depreciation and interest expense. Revenue for the three months ended June 30, 2018 was $40.4 million, compared to revenue of $38.4 million for the three months ended June 30, 2017. The total number of vessel operating days for the three months ended June 30, 2018 increased by 202 to 2,891 compared to the same period in the prior year. The TCE rates earned by the A-Class, V-Class, T-Class and S-Class vessels for the three months ended June 30, 2018, were $13,451, $14,299, $15,658 and $15,184 per day, respectively. The A-Class, V- Class, T-Class and S-Class vessels earned $14,135, $14,016, $15,406 and $16,608 per day, respectively, during the same period in the prior year. The Company had 32 vessels operating during the three months ended June 30, 2018, all but one of which operate in pools from which they derive TCE revenue (the other deriving time-charter revenue). Vessel operating expense was $18.7 million for the three months ended June 30, 2018, an increase of $1.6 million from the three months ended June 30, 2017. Average fleet operating cost per day, including technical management fees, was approximately $5,900 for the three months ended June 30, 2018, which was consistent with the three months ended June 30, 2017. Depreciation expense for the three months ended June 30, 2018 was $12.5 million, an increase of $1.0 million compared to the three months ended June 30, 2017. The Company depreciates the vessels in its fleet from yard delivery. General and administrative expense for the three months ended June 30, 2018, was $1.6 million, unchanged from the three months ended June 30, 2017. Interest expense for the three months ended June 30, 2018 was $13.2 million, an increase of $1.4 million from the three months ended June 30, 2017. Conference Call On Wednesday, August 15, 2018 at 2:00PM GMT, the Company s management team will host a conference call to discuss its results for the three and six months ended June 30, 2018. Participants should dial into the call 10 minutes before the scheduled time using the following number: 0800 279 9489 (UK Toll Free Dial In) or +44 (0) 2075 441 375 (Standard International Dial In). Please inform the operator that you wish to listen to the Navig8 Chemical Tankers Inc. conference call. A telephonic replay of the conference call will be available until August 22, 2018 by dialing +1 412 317 0088 (Standard International Dial In) and using access code 10123113. ¹Time charter equivalent, a non-us GAAP measure, is vessel revenues less voyage expenses (including bunkers and port charges but excluding pool commission). 2

Slides and Webcast There will also be a live webcast of the conference call and slide presentation, available through the Company s website (www.navig8chemicaltankers.com). Participants in 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 Navig8 Group and funds managed by 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 32-vessel fleet exclusively comprises large, fuel-efficient vessels with modern eco-designs that take greatest advantage of these shifts and features 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 s fleet is contracted to operate in various chemical tanker pools managed by 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 + 44 207 467 5888 Rose & Company: +1 212 359 2228 or navig8chems@rosecoglobal.com Visit our website: www.navig8chemicaltankers.com 3

NAVIG8 CHEMICAL TANKERS INC. AND SUBSIDIARIES OTHER OPERATING DATA (Unaudited) 37k dwt HMD Second Quarter 2018 First Quarter 2018 49k dwt Vinashin 49k dwt STX 25k dwt Kitanihon / Fukuoka 37k dwt HMD 49k dwt Vinashin 49k dwt STX 25k dwt Kitanihon / Fukuoka ( A-Class ) ( V-Class ) ( T-Class ) ( S-Class ) ( A-Class ) ( V-Class ) ( T-Class ) ( S-Class ) on the water at the end of the period 18 2 4 8 18 2 4 8 Total operating days 1,636 170 359 726 1,615 172 359 720 Average distributed Gross TCE in $ / day 13,451 14,299 15,658 15,184 14,387 15,054 16,003 15,327 Average OPEX in $ / day 5,858 6,708 5,908 5,761 5,752 6,309 5,899 6,049 4

NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the three months ended 30 June For the six months ended 30 June All in US$000, unless otherwise stated 2018 2017 2018 2017 Operating revenue Vessel revenue 40,366 38,431 81,413 76,293 Operating expenses Vessel expenses (18,692) (17,105) (37,468) (33,023) Depreciation (12,499) (11,487) (24,859) (22,388) General and administrative expenses (1,598) (1,645) (3,230) (3,250) Total operating expenses ($32,789) ($30,237) ($65,557) ($58,661) Net operating income $7,577 $8,194 $15,856 $17,632 Financial Items Interest income 12 8 28 14 Interest expense and finance costs (13,196) (11,770) (25,689) (22,392) Other financial items (90) (6) (100) (14) Net financial items ($13,274) ($11,768) ($25,761) ($22,392) Net loss ($5,697) ($3,574) ($9,905) ($4,760) Loss per common share: Basic ($0.15) ($0.09) ($0.26) ($0.12) Diluted ($0.15) ($0.09) ($0.26) ($0.12) EBITDA: Net loss ($5,697) ($3,574) ($9,905) ($4,760) Depreciation 12,499 11,487 24,859 22,388 Interest income (12) (8) (28) (14) Interest expense and finance costs 13,196 11,770 25,689 22,392 Other financial items 90 6 100 14 EBITDA $20,076 $19,681 $40,715 $40,020 5

NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) All in US$000, unless otherwise stated Assets As at 30 June 2018 As at 31 December 2017 Current assets Cash and cash equivalents 12,677 21,498 Trade receivables 17,538 19,069 Prepaid expenses and other assets 13,823 14,199 Inventories 3,121 3,071 Total current assets $47,159 $57,837 Non-current assets Restricted cash 18,700 18,700, net 1,153,954 1,178,156 Total non-current assets $1,172,654 $1,196,856 Total assets $1,219,813 $1,254,693 Liabilities and shareholders equity Current liabilities Current portion of loans 55,704 55,181 Deferred revenue 251 - Accounts payables and accrued expenses 7,125 6,824 Total current liabilities $63,080 $62,005 Non-current liabilities Long-term loans, net of unamortised debt issuance cost 738,606 765,582 Accrued interest expenses 2,469 1,543 Total non-current liabilities $741,075 $767,125 Total liabilities $804,155 $829,130 Shareholders equity Common stock; $0.01 par value per share; 38,489,108 shares issued and outstanding as of June 30, 2018 (December 31, 2017: 38,489,108) 385 385 Paid-in capital 403,641 403,641 Retained earnings 11,632 21,537 Total shareholders equity $415,658 $425,563 Total liabilities and shareholders equity $1,219,813 $1,254,693 6

NAVIG8 CHEMICAL TANKERS INC AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) For the six months ended 30 June All in US$000, unless otherwise stated 2018 2017 Operating activities: Net loss (9,905) (4,760) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation of vessels 24,859 22,388 Amortisation of deferred financing charges 905 747 Changes in operating assets and liabilities: Trade receivables 1,531 (124) Prepaid expenses and other assets 376 (1,075) Inventories (50) (88) Deferred Revenue 251 - Accounts payables and accrued expenses 808 (891) Net cash provided by operating activities $18,775 $16,197 Investing activities Payments for drydock (235) - Payments for vessels under construction - (103,338) Payments for vessels - (169) Net cash used in investing activities ($235) ($103,507) Financing activities Proceeds from loans, net of debt issuance costs - 163,519 Repayment of loans (27,361) (77,220) Debt extinguishment costs - (23) Net cash (used in) / provided by financing activities ($27,361) $86,276 Decrease in cash, cash equivalents and restricted cash (8,821) (1,034) Cash, cash equivalents and restricted cash, beginning of period 40,198 46,116 Cash, cash equivalents and restricted cash, end of period $31,377 $45,082 7

Fleet List as of August 14, 2018 Name DWT Yard Built Delivered 1 Navig8 Victoria 49,000 Hyundai Vinashin 2015 2 Navig8 Violette 49,000 Hyundai Vinashin 2015 3 Navig8 Almandine 37,000 Hyundai Mipo 2015 4 Navig8 Amber 37,000 Hyundai Mipo 2015 5 Navig8 Amethyst 37,000 Hyundai Mipo 2015 6 Navig8 Ametrine 37,000 Hyundai Mipo 2015 7 Navig8 Aventurine 37,000 Hyundai Mipo 2015 8 Navig8 Andesine 37,000 Hyundai Mipo 2015 9 Navig8 Aronaldo 37,000 Hyundai Mipo 2015 10 Navig8 Aquamarine 37,000 Hyundai Mipo 2015 11 Navig8 Amazonite 37,000 Hyundai Mipo 2015 12 Navig8 Amessi 37,000 Hyundai Mipo 2015 13 Navig8 Ammolite 37,000 Hyundai Mipo 2015 14 Navig8 Axinite 37,000 Hyundai Mipo 2015 15 Navig8 Azotic 37,000 Hyundai Mipo 2015 16 Navig8 Adamite 37,000 Hyundai Mipo 2015 17 Navig8 Azurite 37,000 Hyundai Mipo 2015 18 Navig8 Aragonite 37,000 Hyundai Mipo 2015 19 Navig8 Alabaster 37,000 Hyundai Mipo 2015 20 Navig8 Achroite 37,000 Hyundai Mipo 2016 21 Navig8 Turquoise 49,000 STX 2016 22 Navig8 Sirius 25,000 Kitanihon 2016 23 Navig8 Topaz 49,000 STX 2016 24 Navig8 Sky 25,000 Kitanihon 2016 25 Navig8 Tourmaline 49,000 STX 2016 26 Navig8 Spark 25,000 Kitanihon 2016 27 Navig8 Stellar 25,000 Kitanihon 2016 28 Navig8 Tanzanite 49,000 STX 2016 29 Navig8 Saiph 25,000 Kitanihon 2017 30 Navig8 Sceptrum 25,000 Kitanihon 2017 31 Navig8 Spica 25,000 Fukuoka 2017 32 Navig8 Sol 25,000 Fukuoka 2017 8

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 s 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, the Company 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 chemicals market as a result of changes in OPEC's petroleum production levels and worldwide 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 on the Norwegian OTC trading support system. 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. 9