Investor Presentaiton

Investment Highlights Dorian LPG is a Market Leader in LPG Shipping Best in Class Fleet • Large Commercial Platform • Well Capitalized • • • • ECO vessel fuel efficiency translates to superior earnings potential vs. peers 10 scrubber-fitted vessels; committed to two additional scrubbers Average Efficiency Ratio (AER) of 7.31 vs. 2020 Trajectory Value of 8.342 Dorian LPG is one of the three largest operators of VLGC tonnage Including the Helios LPG Pool, Dorian commercially operates 38 vessels³ Scale allows for a mix of spot, COAS, and time charters • ~$127.3mm of pro forma cash as of September 30, 20204 Additional $25.0mm in liquidity from undrawn revolver and one unencumbered VLGC No refinancing required until 2025 Strong Fundamentals in the LPG Freight Market U.S. seaborne export growth driving global volumes Global NGL Volume Growth • U.S. NGL production shows few signs of slowing down over long term Asian LPG Demand • . • Emerging Trade Routes • Infrastructure expansions should enable U.S. LPG production and export growth Propane appears to be regaining price advantage as a feedstock vs. naphtha A wave of new chemical and PDH plants are planned and are under construction globally LPG retail use continues to grow in India and rural China Traditional AG-Japan benchmark less indicative of freight environment U.S. Gulf to Japan is increasingly important due to significant U.S. export volumes U.S. trade flows to China have resumed following COVID-related tariff waivers Calendar YTD weighted average 1. 2. Based on IMO guidelines 3. 4. In addition to 36 VLGCS in the Helios LPG Pool, Dorian LPG owns two vessels that are on long-term time charter Reflecting cash impact for October 2020 repurchase of Captain John NP for $18.3mm 4

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