Navigator Gas Announces Preliminary Second Quarter 2026 Results (Unaudited)

Navigator Holdings Ltd. (described herein as “Navigator Gas” or the “Company”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, announces today its results for the three months ended June 30, 2026.

Second Quarter Financial Highlights For the quarter ended June 30, 2026, pursuant to the Company's capital return policy (the "Capital Return Policy") the Board of Directors of the Company declared, on August 4, 2026, a cash dividend of $0.07 per share of the Company's common stock, payable on September 1, 2026, to all shareholders of record as of the close of business U.S. Eastern Time on August 19, 2026, (the “Dividend”). The aggregate amount of the Dividend is expected to be approximately $4.3 million, which the Company anticipates will be funded from cash on hand.

Also for the quarter ended June 30, 2026, pursuant to the Company's Capital Return Policy, the Company expects to repurchase approximately $14.2 million of its common stock between August 6, 2026, and September 30, 2026, subject to operating needs, market conditions, legal requirements, stock price and other circumstances (the “Share Repurchases”), such that the Dividend and the Share Repurchases together equal 35% of net income attributable to stockholders of the Company for the quarter ended June 30, 2026.

For the quarter ending September 30, 2026, the Board of Directors of the Company approved, on August 4, 2026, an increase in the Fixed Element of the Company’s Capital Return Policy to $0.08 per share of the Company's common stock, while maintaining that the Fixed Element and the Variable Element together should equal 35% of net income attributable to stockholders of the Company.

The declaration of any dividends, and the amount of any such dividends or share repurchases, including with respect to the quarter ending September 30, 2026, remain subject to approval by the Company's Board of Directors following the conclusion of each quarter.

For the quarter ended March 31, 2026, on June 10, 2026, the Company paid a dividend of $0.07 per share of the Company’s common stock to all shareholders of record as of the close of business U.S. Eastern Time on May 20, 2026, totaling $4.3 million. The Company also repurchased 272,280 shares of common stock in the open market between March 16, 2026, and June 30, 2026, at an average price of $23.19 per share, totaling $6.3 million, such that the cash dividend and share repurchases together equaled 30% of net income attributable to stockholders of the Company in respect of the quarter ended March 31, 2026.

The Company reported total operating revenues of $167.9 million for the three months ended June 30, 2026, compared to $129.6 million for the three months ended June 30, 2025.

Disruption to transits through the Strait of Hormuz continued throughout the second quarter of 2026, constraining the availability of hydrocarbon products from the Middle East. End users sought alternative sources of supply, with Asian consumers in particular turning to North America for substitute volumes of LPG, ethane and ethylene. As a consequence, the price arbitrage between North America and Asia widened, supporting elevated freight rates for transportation between the two regions, while vessel utilization remained robust. Higher oil prices also increased demand for ethylene produced from competitively priced U.S. ethane. At the same time, a number of European crackers entered planned turnarounds, temporarily removing European ethylene production that had to be replaced by imports. These factors also resulted in record volumes of ethylene being exported through the Ethylene Export Terminal at Morgan’s Point in the seco...