2nd Quarter 2013 Results August 20th , 2013

CONSISTENCY & GREAT VALUE

Disclaimer

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as “may,” “will,” “should,” “estimates,” “intends,” and similar expressions are intended to identify forward-looking statements. Actual results and the timing of certain events may differ significantly from the results discussed or implied in the forward-looking statements. Among the factors that might cause or contribute to such a discrepancy include, but are not limited to the risk factors described in the Company’s Registration Statement filed with the Securities and Exchange Commission, particularly those describing variations on charter rates and their effect on the Company’s revenues, net income and profitability as well as the value of the Company’s fleet.

1

1

+ $110.5mil free cash

+ 60-70% leverage

+ $28mil loan proceeds

= $375mil for investments

1 Market share data for 3,000 – 7,500 cbm LPG tanker segment only;

Fully-Pressurized LPG Fleet Market Share1

2

Leading owner of Handysize LPG vessels

Maintain a modern fleet. Average age of current LPG fleet 11 years.

Maintain moderate leverage with net debt to cap around 55-60%.

Maintain a visible revenue stream. 83% voyage days fixed for 2013 – 50% voyage days fixed for 2014

Maintain cost efficient operations

StealthGas has significantly greater scale than its second largest competitor and expects to continue to capture market share

Current Fleet: 36 LPG Vessels Targeted Fleet: ~50-55 LPG Vessels

Built-In Growth

Business Strategy

Fleet Development

Contracted 9 LPG vessels ( 3 secondhand delivered and 6 newbuildings)

Investments in modern vessels and newbuilding LPG carriers

3

2013 Q2 Income Statement

4

In US$ 000, except per share amounts

Q2 2012 Q2 2013 6M 2012 6M 2013

Net Revenues $29,148 $30,264 $58,271 $59,711

Voyage Costs 2,708 4,617 5,300 8,088

Running Costs 7,493 8,700 15,159 16,662

Operating Income 9,880 6,872 19,999 15,296

Net Income 7,186 5,080 14,565 11,539

Net Income, adjusted

6,458 4,442 11,676 9,762

Drydocking Costs 499,8 874,5 1,783 1,370

EBITDA 17,590 15,069 35,732 32,005

EPS 0.35 0.18 0.71 0.47

EPS, adjusted 0.31 0.16 0.57 0.40

Number of Shares, diluted

20,552,568 28,261,359 20,552,568 24,428,259

Balance Sheet December 31, June 30,

2012 2013

Cash and Cash Equivalents incl. restricted 50,913,655 118,461,389

Advances for vessels under construction 19,321,045 19,534,961

Total Assets 713,039,031 814,407,103

Current portion of long term debt 35,787,544 47,428,884

Long Term Debt 309,564,768 279,706,906

5

345 351 345

308

287

28

31

58

265

33

150

170

190

210

230

250

270

290

310

330

350

370

YE 2010 YE 2011 YE 2012 YE 2013 YE 2014 YE 2015

Existing Debt New Debt Balloon Payment

351 345336

330

345

Total debt expected to remain constant

In 2014, balloon payments in April and July

2013 Q2 Operating Highlights

* Assuming no vessels on Bareboat Charter

6

Fleet Data Q2 2012 Q2 2013 6M 2012 6M 2013

Average number of vessels in fleet 36.5 38.1 36.7 37.6

Period end number of vessels in fleet 37 40 37 40

Total calendar days for fleet 3,319 3,470 6,686 6,800

Total voyage days for fleet 3,288 3,404 6,553 6,711

Fleet utilization 99.1% 98.1% 98.0% 98.7%

Total charter days for fleet 2,869 2,717 5,831 5,506

Total spot market days for fleet 419 687 722 1,205

Fleet operational utilization 94.3% 91.7% 95.1% 93.8%

Average Daily Results (in $) Q2 2012 Q2 2013 6M 2012 6M 2013

Time Charter Equivalent – TCE $9,853* $9,022 * $9,792* $9,310 *

Vessel Operating Expenses 4,144 4,141* 4,166* 4,143*

Management Fees 316 332 318 328

General & Administrative Expenses 163 161 174 183

Total Vessel Operating Expenses 4,307* 4,302* 4,340* 4,326*

Fleet Employment Profile

7

$180 million in

secured revenues

LPG Shipping is a Resilient and Growing Sector

Seaborne Trade in LPG and Petrochemicals

60.2 61.0 62.7 65.3 64.1 67.173.6

77.181.9

88.393.1

9.5 10.0 11.4 10.7 11.5 12.113.2

13.313.6

14.114.0

1.9%4.3%

2.5% (0.5%)4.8%

9.5%

4.1%5.7%

7.1%

4.7%

69.7 71.0 74.1 75.9 75.679.2

86.890.4

95.5102.3

107.1

(3.0%)

2.0%

7.0%

12.0%

17.0%

22.0%

0

20

40

60

80

100

120

2005 2006 2007 2008 2009 2010 2011 2012E 2013E 2014E 2015E

LPG Petrochemicals YoY Growth

(Metric Tons in Millions) (YoY % Growth)

Source: ViaMar

4.5% 10-Yr. CAGR

8

GDP growth in emerging economies

Growth in demand for LNG creates by-product that

needs to be shipped (too expensive to store)

Increasing distance between feedstock supplies, LPG

production and end-users

U.S. shale gas driving increased trade volumes

2012 Seaborne Trade Key Drivers

LPG, 67.0%

Ammonia, 19.0%

Petrochem. Gases, 14.0%

LPG Trade Historically Driven by Middle East Exports to Asia

9

U.S. LPG Trade: International Prices Support Exports

LPG produced in the U.S. is the cheapest in the world due to

surging production

LPG needs to be shipped due to limited domestic demand, high

storage cost and the Kyoto Protocol’s prohibition of gas flaring

LPG price differential between Saudi Aramco, US Mont Belvieu and

Asia have seen Japan LPG imports from the US surged

Price of propane and butane cargoes for delivery along the

Singapore-Japan route reached lowest levels since July 2010

U.S. Shale Gas is a Game Changer

10

Overview of LPG Trade Dynamics U.S. LPG Trade

U.S. LPG Export Growth Demand for U.S. Exports Continues to Increase

U.S. LPG exports are forecasted to triple by 2016 to 12.1mm tons

(11% global total), up from 4.5mm tons in 2011 (4% global total)

Current US gas plant production of propane is 780 MBPD vs 694

MBPD in May 2012

Propane exports reached 308 MBPD vs 149 MBPD in 2012, while

propane imports declined to 59 MBPD from 115 MBPD.

Targa is expected to complete its propane export terminal expansion

to load an additional 40-50 MBPD for exports

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

2010 2011 2012 2013 2014 2015 2016

Europe Asia Latin America

(Metric Tons in Millions)

$0

$500

$1,000

$1,500

$2,000

$2,500

'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13

5k CBM Pressurized (Trading East) Tanker Earnings Dry Bulk Earnings

Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability

1 By number of vessels

2 Fully-pressurized fleet Source: Clarksons Research Services

Key Supply Dynamics Orderbook as % of Fleet1

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LPG Timecharter Rates

The LPG space remains smaller than other shipping

segments with a negative fleet growth currently

projected from 2013 onwards

More than 20% of the 3,000 – 8,000 cbm fleet is

20+ years old

Only 21 vessels in the size of 3,000 - 8,000 cbm are

on order for delivery over the next three years

Small orderbook and strong demand dynamics

support stable charter rates

($ Thousands / Month)

LPG time charter rates have remained far more stable than those of peer sectors

2

29,9%

18,0% 17,7%

11,6%10,1%

8,0%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

35,0%

LNG Container Dry Bulk Product

Tankers

Crude

Tankers

LPG (3-8k

cbm)

Q & A

Appendix - Indicative Ebitda calculator

Fleet Data Q1-Q2 2013

Q3-Q4 2013

Contracted Gross revenues $59.7mil $49.5mil

Spot Revenues N/A ?

Commissions (Voyage Expenses) $1.5mil ?

Other Voyage Expenses (Spot vessels) $6.4mil ?

Total Days 6,800 7,360

Available Days 6,711 7,305

Spot Days N/A 1,287

Bareboat Days N/A 2,380

TCE Revenues $51.6mil ?

-Operating Expenses $16.7mil $19.0

-Dry-dock $1.4mil $1.5

-Management Fees $2.2mil $2.5

-G&A $1.2mil $1.3

EBITDA (adj) $30.3mil

Average Daily Results (in $)

Operating Expenses (excl vsls on bb) 4,143

Dry-dock 3 vessels 3 vessels

Contacts

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Weekly LPG Market Report updated every Monday

Comprehensive Investor Relations Information

Visit our Website at: www.stealthgas.com

Company Contact: Konstantinos Sistovaris Chief Financial Officer StealthGas Inc. 011-30-210-6250-001 E-mail: info@stealthgas.com