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STEALTHGAS INC. Reports Fourth Quarter And Twelve Months 2012 Financial And Operating Results

Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the U.S. Securities and Exchange Commission.

Fleet List and Fleet Deployment

For information on our fleet and further information:

Visit our website at www.stealthgas.com

Fleet D ata:

The following key indicators highlight the Company's operating performance during the fourth quarters and twelve months ended December 31, 2011 and December 31, 2012.  
FLEET DATA Q4 2011 Q4 2012 12M 2011 12M 2012
Average number of vessels (1) 37.0 37.0 37.6 36.9
Period end number of vessels in fleet 37 37 37 37
Total calendar days for fleet (2) 3,404 3,404 13,716 13,494
Total voyage days for fleet (3) 3,262 3,401 13,368 13,342
Fleet utilization (4) 95.8% 99.9% 97.5% 98.9%
Total charter days for fleet (5) 2,647 2,817 10,455 11,531
Total spot market days for fleet (6) 615 584 2,913 1,811
Fleet operational utilization (7) 90.5% 95.5% 89.7% 95.4%

1) Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.

2) Total calendar days are the total days the vessels were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys.

3) Total voyage days for fleet reflect the total days the vessels were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys.

4) Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period.

5) Total charter days for fleet are the number of voyage days the vessels in our fleet operated on time or bareboat charters for the relevant period.

6) Total spot market charter days for fleet are the number of voyage days the vessels in our fleet operated on spot market charters for the relevant period.

7) Fleet operational utilization is the percentage of time that our vessels generated revenue, and is determined by dividing voyage days (excluding commercially idle days) by fleet calendar days for the relevant period.

Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS:

EBITDA represents net income before interest, income tax expense, depreciation and amortization. Adjusted EBITDA represents EBITDA before (gain)/loss on sale of assets, impairment loss, loss on derivatives, excluding swap interest paid, and non-cash foreign exchange difference. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in the shipping or other industries. In evaluating Adjusted EBITDA and Adjusted Net Income, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation.

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