NAVIGATOR HOLDINGS LTD. Preliminary Second Quarter 2017 Results

Highlights

■ Navigator Holdings Ltd. (NYSE: NVGS) (the “Company”) reported operating revenue of $74.4 million for the three months ended June 30, 2017.

■ Net income was $2.3 million for the three months ended June 30, 2017 with earnings per share of $0.04.

■ Utilization increased to 89.2% for the six months ended June 30, 2017 compared to 86.8% for the six months ended June 30, 2016.

■ Adjusted EBITDA⁽¹⁾ was $30.6 million for the three months ended June 30, 2017.

■ Took delivery of Navigator Yauza a handysize semi-refrigerated ice class vessel from HMD, on April 5, 2017. The vessel commenced a long-term time charter following delivery.

■ Took delivery of Navigator Jorf a midsize fully-refrigerated vessel from HMD on July 20, 2017. The vessel will commence on a long-term time charter later this month.

■ On June 30, 2017, the Company entered into a new $160.8 million secured term loan and revolving credit facility, to refinance a loan with an outstanding balance of $143.0 million, that was due to mature in February 2018.

■ The Company has benefited from increasing demand for the transportation of petrochemicals gases, with the proportion of our total revenue from long-haul trade increasing to 53% in the second quarter 2017 from 42% in the second quarter 2016.

■ On July 12, 2017, the Company and Enterprise Product Partners L.P. announced the execution of a letter of intent to jointly develop an ethylene marine export terminal on the Houston Ship Channel. We have extensive experience with ethylene shipping through our fleet of 14 ethylene-capable vessels that provide a virtual pipeline to deliver ethylene to consuming customers.

Charter revenue for the three months ended June 30, 2017 remained significantly focused around the petrochemical sector, as was the case during the first quarter of 2017. The petrochemical contracts of affreightment we hold for transporting ethylene from the U.S. and a broad spectrum of olefins from Brazil have been active. We have also entered into two time charters for two of our fully-refrigerated vessels during the second quarter of 2017, with one vessel transporting LPG to Mexico and the other transporting LPG to southern Africa, a new market for us. Such commitments, along with our other time charters, have provided support to our business in a period when the LPG segment continues to experience headwinds. Earnings across all LPG shipping segments continue to be weak, with the Very Large Gas Carrier Baltic index reaching a floor at $6,000 earnings per day. Uncertainties with the geographical location, timings and quantities of usual petrochemical supplies from the Middle East and Europe have limited spot activity for our voyage charter vessels during the three months ended June 30, 2017.

Going into the second half of the year, we are committed to transport incremental ethylene volume from Europe to Asia on two of our ethylene capable vessels and in addition we will deliver two separate ethylene vessels to Braskem on three year charters for the commencement of their ethane contracts. We believe that these two contracts, combined with existing charter commitments, will help support fleet employment and utilization for the second half of 2017.