X0306 4 2015-08-28 0 0001606909 Pangaea Logistics Solutions Ltd. PANL 0001426890 Yu Peter C/O CARTESIAN CAPITAL GROUP 505 FIFTH AVENUE, 15TH FLOOR NEW YORK NY 10017 1 0 0 0 Common Stock, par value $0.0001 per share ("Common Stock") 2015-08-28 2015-08-28 4 J 0 20000 0 D 0 D Common Stock, par value $0.0001 per share ("Common Stock") 2015-08-28 2015-08-28 4 J 0 20000 0 A 13936467 I See footnotes Common Stock, par value $0.0001 per share ("Common Stock") 2015-08-28 2015-08-28 4 J 0 20000 0 A 13956467 I See footnotes Shares previously held by Peter Yu have been transferred to Pangaea One Acquisition Holdings XIV, LLC ("Pangaea Acquisition") pursuant to a Stock Transfer Agreement dated August 26, 2015, by and between Mr. Yu and Pangaea Acquisition. Shares previously held by Paul Hong have been transferred to Pangaea Acquisition pursuant to a Stock Transfer Agreement dated August 26, 2015, by and between Mr. Hong and Pangaea Acquisition. The 13,956,467 shares of Common Stock are held directly as follows: (i) 1,099,304 shares of Common Stock held directly by Imfinno, L.P., a Delaware limited partnership ("Imfinno"); (ii) 1,669,4692 shares of Common Stock held directly by Malemod, L.P., a Delaware limited partnership ("Malemod"); (iii) 1,658,620 shares of Common Stock held directly by Nypsun, L.P., a Delaware limited partnership ("Nypsun"); (iv) 1,555,334 shares of Common Stock held directly by Leggonly, L.P., a Delaware limited partnership ("Leggonly"); (v) 1,555,307 shares of Common Stock held directly by Pangaea One Parallel Fund (B), L.P., a Delaware limited partnership ("Pangaea Parallel (B)"); (vi) 3,297,254 shares of Common Stock held directly by Pangaea One (Cayman), L.P. ("Pangaea Cayman"); (vii) 3,081,156 shares of Common Stock held directly by Pangaea One Parallel Fund, L.P. ("Pangaea Parallel") and (viii) 40,000 Common Shares held directly by Pangaea Acquisition. Pangaea One, L.P., a Delaware limited partnership ("Pangaea One"), Pangaea Parallel (B), Pangaea Cayman and Pangaea Parallel directly own Pangaea Acquisition. Pangaea One GP, LLC, a Delaware limited liability company ("Pangaea LLC") is the general partner of Imfinno, Malemod, Nypsun, Leggonly, Pangaea Parallel (B), and Pangaea One. Pangaea One GP (Cayman), L.P., a Cayman Islands company ("PGP LP") is the general partner of Pangaea Cayman. Pangaea One GP (Cayman), Co., a Cayman Islands company ("PGP Co") is the general partner of PGP LP. Pangaea One Holding, LLC, a Delaware limited liability company ("Pangaea One LLC") is the managing member of Pangaea LLC and PGP Co. Continuation of previous Footnote : Pangaea One GP2 (Cayman), L.P., a Cayman Islands limited partnership ("PGP2 LP") is the general partner of Pangaea Parallel. Pangaea One GP2 (Cayman), Co., a Cayman Islands company ("PGP2 Co") is the general partner of PGP2 LP. Cartesian Capital Group Holding, LLC, a Delaware limited liability company ("Cartesian") is the managing member of Pangaea One LLC and PGP2 Co. Peter Yu is a member of the Board of Directors of Pangaea Logistics Solutions Ltd. and is a managing member or director of each of Cartesian, Pangaea One LLC, Pangaea LLC, PGP LP, PGP Co, PGP2 LP and PGP Co. As such, Mr. Yu may be deemed to have an indirect pecuniary interest (within the meaning of Rule 16a-1 under the Exchange Act) in an indeterminate portion of the securities reported as beneficially owned by the Pangaea Entities. Mr. Yu disclaims beneficial ownership of all such securities, except to the extent of any direct pecuniary interest therein and this report shall not be deemed an admission that Mr. Yu is the beneficial owner of any such securities for Section 16 of the Exchange Act or any other purposes. Peter Yu 2015-08-28