PRELIMINARY FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED 31 December 2015

EPIC GAS LTD
PRELIMINARY FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED
31 December 2015

SINGAPORE, 11 February 2016 – Epic Gas Ltd. (“Epic Gas” or the “Company”) today announced its unaudited financial and operating results for the fiscal year ended December 31, 2015. All amounts reported in US Dollars unless otherwise stated.

A conference call to discuss these results is scheduled for 11 February 2016 at 10:00 AM (New York) / 3:00PM (London) and can be accessed via the following dial-in information.

Conference call details:

United States: +1 631 510 7498
United Kingdom: 08444933800
International: +44 (0) 1452 555566
Conference ID Number: 42411943

Fiscal Year 2015 Highlights

• Vessel Calendar days up 19% year over year
• Revenue of $130.3 million, up 11% year over year
• Time charter equivalent revenues of $8,682 per vessel calendar day, up 2% year over year
• General & administrative expenses of $1,150 per vessel calendar day, down 22% year over year
• Adjusted EBITDA of $29.8 million, up 25% year over year
• Net Loss of $5.9 million before an impairment charge of $10.4 million
• Charter cover of 40% of 2016 days
• $50.0 million Private Placement of common equity and a US$120 million term loan in place,
• with average hedge of Yen/US$ on newbuild contractsconcluded at 118.85.
• Delivery of 3 newbuildings from shipyards in Japan,sale of 2 older vessels and redelivery of 1
• chartered-in ship upon charter expiry bringing the Company’s on the water fleet to 36 vessels
• Remaining newbuilding program of seven owned vessels, plus one chartered-in vessel

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