1. 2nd Quarter 2013 Results
August 20th , 2013
CONSISTENCY & GREAT VALUE

2. 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

3. + $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

4. Fleet Development
Contracted 9 LPG vessels ( 3 secondhand delivered and 6 newbuildings)
Investments in modern vessels and newbuilding LPG carriers
3

5. 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

6. 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
351 345
336
330
345
Total debt expected to remain constant
In 2014, balloon payments in April and July

7. 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*

8. Fleet Employment Profile
7
$180 million in
secured revenues

9. LPG Shipping is a Resilient and Growing Sector
Seaborne Trade in LPG and Petrochemicals
60.2 61.0 62.7 65.3 64.1 67.1
73.6 77.1
81.9
88.3
93.1
9.5 10.0 11.4 10.7 11.5 12.1
13.2 13.3
13.6
14.1
14.0
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 75.6
79.2
86.8
90.4
95.5
102.3
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 TradeKey Drivers
LPG,
67.0%
Ammonia,
19.0%
Petrochem.
Gases,
14.0%

10. 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

11. U.S. Shale Gas is a Game Changer
10
Overview of LPG Trade DynamicsU.S. LPG Trade
U.S. LPG Export GrowthDemand 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)

12. $0
$500
$1,000
$1,500
$2,000
$2,500
'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13
5k CBM Pressurized (Trading East) Tanker Earnings Dry Bulk Earnings
Limited LPG Fleet Growth Has Led to Greater Charter Rate Stability
1 By number of vessels
2 Fully-pressurized fleet
Source: Clarksons Research Services
Key Supply Dynamics Orderbook as % of Fleet1
11
LPG Timecharter Rates
The LPG space remains smaller than other shipping
segments with a negative fleet growth currently
projected from 2013 onwards
More than 20% of the 3,000 – 8,000 cbm fleet is
20+ years old
Only 21 vessels in the size of 3,000 - 8,000 cbm are
on order for delivery over the next three years
Small orderbook and strong demand dynamics
support stable charter rates
($ 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)

13. Q & A

14. 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

15. Contacts
18
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