Capital Product Partners L P : First Quarter 2021 Financial Results Conference Call

First Quarter 2021

Earnings Presentation

April 29, 2021

Capital Product

Partners L.P.

www.capitalpplp.com

IMPORTANT NOTICE

The statements in this presentation that are not historical facts, including, among other things, the expected financial performance of CPLP's business, CPLP's ability to pursue growth opportunities, CPLP's expectations or objectives regarding future distributions, unit buybacks and market and charter rate expectations and, in particular, the effects of COVID-19 on the financial condition and operations of CPLP and the container industry in general are forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These forward- looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. For a discussion of factors that could materially affect the outcome of forward-looking statements and other risks and uncertainties, see "Risk Factors" in CPLP's annual report filed with the SEC on Form 20-F. Unless required by law, CPLP expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, to conform them to actual results or otherwise. CPLP does not assume any responsibility for the accuracy and completeness of the forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements.

Non-GAAP Measures

This presentation contains non-GAAP measures, including Operating Surplus, EBITDA and Free Cash Flow. Operating Surplus is a quantitative measure used in the publicly traded partnership investment community to assist in evaluating a partnership's financial performance and ability to make quarterly cash distributions. It should not be considered a measure of profitability or liquidity. We define EBITDA as Revenue less Operating Expenses and SG&A. These definitions may differ from similarly titled measures used by other companies and MLPs. These measures are not required by accounting principles generally accepted in the United States and should not be considered a substitute for net income, cash flow from operating activities and other operations or cash flow statement data prepared in accordance with accounting principles generally accepted in the United States.

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First Quarter 2021 Highlights & Update

• Net income for 1Q2021: $10.9 million.
• Declared common unit distribution of $0.10 for the quarter.
• Partnership's operating surplus: $24.5 million or $14.4 million after the quarterly allocation to the capital reserve.
• Took delivery of three 5,100 TEU sister container vessels with long term employment to Hapag Lloyd.
• Agreed to sell two 9,300 TEU containers to an unaffiliated third party for a total consideration of $195.0 million.
• Repurchased approximately 134,000 common units since the launch of the unit repurchase plan on 19 February 2021.
• Average remaining charter duration 4.1 years with 88% charter coverage* for 2021 and 80% for 2022.

* 94% and 91% for 2021 and 2022, respectively, pro forma for the sale of the M/V 'Adonis' and M/V 'CMA CGM Magdalena'.	2

Statements Of Comprehensive Income

			($ In Thousands)
		For the Three-Month		For the Three-Month
		Period Ended		Period Ended
		March 31, 2021		March 31, 2020
	Revenues	38,143		33,687
	Expenses:
	Voyage expenses	2,239		1,202
	Vessel operating expenses	7,935		8,729
	Vessel operating expenses - related parties	1,282		1,188
	General and administrative expenses	1,651		1,789
	Vessel depreciation and amortization	11,080		9,631
	Operating income	13,956		11,148
	Other income / (expense), net:
	Interest expense and finance cost	(3,380)		(4,672)
	Interest and other income, net	303		198
	Total other expense, net	(3,077)		(4,474)
	Net income	10,879		6,674

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Operating Surplus For Calculation Of Unit Distribution1

($ In Thousands)

Net income

Adjustments to net income

Depreciation and amortization

Amortization / accretion of above / below market acquired charters and straight line revenue adjustments

For the Three-Month	For the Three-Month
Period Ended	Period Ended
March 31, 2021	December 31, 2020
10,879	7,268
11,954	11,560
1,651	1,854

TOTAL OPERATING SURPLUS FROM OPERATIONS	$24,484	$20,682
Capital reserve	(10,128)	(9,302)
OPERATING SURPLUS AFTER CAPITAL RESERVE	14,356	11,380
Increase in recommended reserves	(12,472)	(9,483)
AVAILABLE CASH	$1,884	$1,897

Common Unit Coverage: 7.6x

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1 Operating Surplus is a non-GAAP measure. See Important Notice at the front of this presentation.