Navios Maritime Containers L P : Q3 2020 Earnings Presentation

Navios Maritime Containers L.P.

Q3 2020 Earnings Presentation

November 3, 2020

Navios Maritime Containers L.P.

Forward Looking Statements

This presentation contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including future contracted revenues and rates, EBITDA, future available days, future financial performance of the fleet, timing of vessel deliveries, vessel acquisitions, financing activities, and Navios Containers' growth strategy and measures to implement such strategy, including future vessel acquisitions and the ability to secure or refinance related financing, the further growth of our containership fleet, and entering into further time charters. Words such as "may," "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Containers at the time these statements were made. Although Navios Containers believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Containers. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks relating to: global and regional economic and political conditions including the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of the products we ship, the ability and willingness of charterers to fulfill their obligations to us and prevailing charter rates, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing; potential disruption of shipping routes due to accidents, diseases, pandemics, political events, piracy or acts by terrorists, including the impact of the COVID-19 pandemic and the ongoing efforts throughout the world to contain it; the favorable timing for acquisitions and chartering opportunities in the container shipping sector and Navios Containers' ability to take advantage of such opportunities; the value of container shipping vessels; Navios Containers' ability to identify container shipping vessels for acquisition at attractive prices, if at all, including the availability of distressed acquisition opportunities in the container shipping industry; Navios Containers' ability to execute on a low-cost operating structure; Navios Containers' ability to achieve a return on investment for and to pay cash distributions to our unitholders or make common unit repurchases from our unitholders; any advantages resulting from Navios Containers' strategic focus on intermediate-size containerships; Navios Containers' ability to leverage the scale, experience, reputation and relationships of the Navios Group, consisting of Navios Maritime Holdings Inc., Navios Maritime Acquisition Corporation, Navios Maritime Partners L.P., and any one or more of their subsidiaries and affiliates. Navios Containers' future financial condition or results of operations and its future revenues and expenses, including its estimated adjusted cash flow; the loss of any customer or charter or vessel; the aging of Navios Containers' vessels and resultant increases in operation and drydocking costs; Navios Containers' ability to maintain long-term relationships with major liner companies; Navios Containers' ability to access debt, credit and equity markets; potential liability from litigation and our vessel operations, including discharge of pollutants; Navios Containers' and the Navios Group's performance in safety, environmental and regulatory matters; increases in costs and expenses, including but not limited to, crew wages, insurance, technical maintenance costs, spares, stores and supplies, charter brokerage commissions on gross voyage revenues and general and administrative expenses; the changes to the regulatory requirements applicable to the shipping and container transportation industry, including, without limitation, stricter requirements adopted by international organizations, such as the International Maritime Organization and the European Union, or by individual countries or charterers and actions taken by regulatory authorities and governing such areas as safety and environmental compliance; the anticipated taxation of Navios Containers and its unitholders; and the effects of increasing emphasis on environmental and safety concerns by customers, governments and others, as well as changes in maritime regulations and standards. Navios Containers expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Containers' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Containers makes no prediction or statement about the performance of its common units.

2

Navios Maritime Containers L.P.

Definitions

EBITDA represents net income/(loss) attributable to Navios Containers' common unitholders before interest and finance costs, before depreciation and amortization and before income taxes. Navios Containers uses EBITDA as a liquidity measure and reconciles EBITDA to net cash provided by/(used in) operating activities, the most comparable U.S. GAAP liquidity measure. EBITDA is calculated as follows: net cash provided by/(used in) operating activities adding back, when applicable and as the case may be, the effect of: (i) net increase/(decrease) in operating assets; (ii) net (increase)/decrease in operating liabilities; (iii) net interest and finance cost; (iv) amortization and write-off of deferred financing costs; and (v) payments for drydock and special survey costs. Navios Containers believes that EBITDA is a basis upon which liquidity can be assessed and represents useful information to investors regarding Navios Containers' ability to service and/or incur indebtedness, pay capital expenditures, meet working capital requirements and pay distributions. Navios Containers also believes that EBITDA is used: (i) by prospective and current lessors as well as potential lenders to evaluate potential transactions; (ii) to evaluate and price potential acquisition candidates; and (iii) by securities analysts, investors and other interested parties in the evaluation of companies in our industry.

EBITDA is presented to provide additional information with respect to the ability of Navios Containers to satisfy its respective obligations, including debt service, capital expenditures, working capital requirements and pay distributions. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service requirements, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation.

EBITDA has limitations as an analytical tool, and therefore, should not be considered in isolation or as a substitute for the analysis of Navios Containers' results as reported under U.S. GAAP. Some of these limitations are: (i) EBITDA does not reflect changes in, or cash requirements for, working capital needs; (ii) EBITDA does not reflect the amounts necessary to service interest or principal payments on our debt and other financing arrangements; and (iii) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future. EBITDA does not reflect any cash requirements for such capital expenditures. Because of these limitations, among others, EBITDA should not be considered as a principal indicator of Navios Containers' performance. Furthermore, Navios Containers' calculation of EBITDA may not be comparable to that reported by other companies due to differences in methods of calculation.

Available days for the fleet are total calendar days the vessels were in Navios Containers' possession for the relevant period after subtracting off-hire days associated with scheduled repairs or repairs under guarantee, vessel upgrades, drydocking or special surveys. The shipping industry uses available days to measure the number of days in a relevant period during which vessels should be capable of generating revenues.

TCE per day is defined as voyage and time charter revenues less voyage expenses during a relevant period divided by the number of available days during the period.

3

Navios Maritime Containers L.P.

Navios Universe

Premier Ship Owner

Navios Maritime

Containers L.P.

(Nasdaq: NMCI)

29 Containerships

■

■

■

■

■

■

• 200 vessels controlled Economies of scale Global brand
  Value creation through cycle Strong industry relationships Seasoned management

Navios Maritime

Holdings Inc.

(NYSE: NM)

49 dry bulk vessels:

32 owned (2) , 17

chartered-in

Navios Maritime

Acquisition

Corporation

(NYSE: NNA)

54 vessels (1): 31 product tankers, 14 VLCCs, 2

chemical tankers, 7

Containerships

Navios Maritime

Partners L.P.

(NYSE: NMM)

55 vessels (3): 15 Capes,

24 Panamaxes, 6 Ultra-

Handymaxes, 10

Containerships

Navios South

American

Logistics Inc.

Port Terminal facilities,

barging & cabotage

1. Includes three newbuilding vessels on bareboat charter expected to be delivered in Q1 2021, Q3 2021 and Q2 2022, respectively.
2. Includes five bareboat-in vessels
3. Includes three bareboat-in Panamax vessels; two expected to be delivered by H1 2021

4

Navios Maritime Containers L.P.

Ownership Structure

	Common Unitholders
Navios Maritime	Navios Maritime
Partners L.P.	Holdings Inc.
	60.4% Interest
35.7% Interest	3.9% Interest

Navios Maritime Containers L.P.

(NASDAQ: NMCI)

100% Interest

29 Containerships

25 x Baby Panamaxes	4 x New Panamaxes
22 x 4,250-4,730 TEU 13 x 3,450 TEU	12 x 8,204 TEU	12 x 10,000 TEU

5

Navios Maritime Containers L.P.

NMCI: Company Highlights

Containership

Vehicle Focused on Panamax Segments

Strong Balance Sheet

Economies of Scale;

Strong, Seasoned

Management

• Attractive entry point and clean, low-cost structure
• Focused on two most attractive segments from a demand/supply perspective
• • "Baby Panamaxes" (3,450 - 4,730 TEU)
  • "New Panamaxes" (7,500 - 10,000 TEU)
• Charter policy balances utilization and market opportunity
• Well-capitalizedvehicle with conservative leverage
• No significant debt maturities until 2023
• Attractive cost basis in existing fleet (acquisition prices close to scrap values)
• Debt outstanding close to scrap value of the fleet
• Economies of scale - charterers prefer large and reliable owners
• Management team - average industry experience of 20+ years per person
• Strategic relationships with banks and other key industry players
• Track record of financial reporting, compliance and accountability

Navios Group's Containership Vehicle - Right of First Refusal for all Containerships (1)

(1) As per Omnibus Agreement

6

Navios Maritime Containers L.P.

Pandemic Economies Drive Volumes & Rates

IMF expects global economy to increase by 5.2% in 2021

1. Advanced economies forecast: 2020 = (5.8%); 2021 = 3.9%

o China forecast:		2020 = 1.9%;	2021 = 8.2%
QoQ (Bloomberg)	Q1 2020A Q2 2020A Q3 2020A Q4 2020E Q1 2021E Q2 2021E Q3 2021E Q4 2021E
US	-5.0%	-31.4%	33.1%	4.0%	3.7%	3.5%	3.3%	3.2%
Eurozone	-3.7%	-11.8%	12.7%	2.0%	1.0%	1.0%	0.9%	0.8%
China	-10.0%	11.7%	2.7%	2.1%	1.2%	1.3%	1.3%	1.3%

Container trade driven by global GDP

o As economies recover, volumes are improving	o Rates reach the highest levels in the
o World container trade increased by 11% QoQ in Q3 2020	last eight years

	Container Trade, QoQ % (MTEU)		Containership 4,400 TEU 6-12 Month TC Rate
52							20,000
						18,000
							16,000
							14,000
48	(11%)				$/day	12,000
11%		10,000
Container Trade							8,000
						6,000
m TEU
44							4,000
		1%				2,000
					0	Jun-2012	Nov-2012Apr-2013Sep-2013	Feb-2014Jul-2014Dec-2014May-2015Oct-2015Mar-2016Aug-2016Jan-2017Jun-2017Nov-2017Apr-2018Sep-2018Feb-2019Jul-2019Dec-2019May-2020Oct-2020
40							Jan-2012
	Q4 2019	Q1 2020	Q2 2020	Q3 2020	Q4 2020

Source: IMF Oct 2020, Bloomberg as of November 2nd, Clarksons

7

Navios Maritime Containers L.P.

Recent Developments

Financial results - 9M 2020 & Q3 2020

9M EBITDA	$30.7 million	9M Net Income	$1.8 million
Q3 EBITDA	$5.8 million	Q3 Net Loss	$(1.1) million

Strong balance sheet - low leverage

• ~ 87% of debt covered by scrap value of our fleet (1)
• No significant debt maturities until 2023

Significant market improvement

• Current rates for 4,400 TEU vessels increased by 190% to $19,750 compared to $6,800, YTD 2020 low in June (2)
• Longer period charters available, shorter redelivery periods for charterers
• Five vessels fixed at above $18,000 net rate per day for average duration of over a year
• Rates above $18,000 last time recorded in 2011

Units repurchase

• $6 million unit repurchase program
• 2,157,523 units bought YTD 2020 - average price of $0.80 (6% of units outstanding)
• 32,445,577 total current outstanding units

1. Scrap value based on $380/LDT (Clarksons - Container Intelligence Monthly - October 2020)

(2) Rates based on Clarksons' 6-12 month rates for 4,400 TEU as of October 30, 2020

8

Navios Maritime Containers L.P.

Cash Breakeven / Cost Structure - Q4 2020E

Contracted revenue (average daily rate)	Total cost per day (1)
		$12,024 (2)				$11,990
						$3,155
	90.6% Fixed				$978
				$804
	(incl. 1.1% Index linked)
						$7,053
					Q4 2020E
	Q4 2020E
Capital repayments	Interest expense	General & administrative expenses	Opex (incl. drydocking)

($ thousands)	Q4 2020E
Total fixed revenue (2)	$28,714
Total cost (1)	(31,990)
Cost over revenue	$ (3,276)
Open and index days	280
Breakeven per open day	$ 11,699

• Total available fleet days: 2,668 for Q4 2020E; 10,573 for FY 2020E

TEU	Open	Index	Open and
days	days	index days
3,450	32	-	32
4-5,000	218	30	248
Total	250	30	280

1. Total cost includes operating expenses as per management agreement and amortization of drydocking expenses, general and administrative expenses and debt service (interest expense and capital repayments).
2. Excludes index-linked charters

9

Navios Maritime Containers L.P.

Liquidity and Debt Maturity Profile

September 30, 2020

(US $'000)

	As of September 30, 2020
Cash	$8,293
Debt (1)	$240,226
Partners' Capital	$190,017
Capitalization	$430,243
Net Debt / Capitalization	53.9%

Debt maturities

80
60
)
40
million($
20			10.9	45.1	13.5	43.5
0
2021	2022	2023	2024	2025+

No significant debt maturities until 2023

Staggered debt maturity profile

1. Net of deferred financing fees.

10

Navios Maritime Containers L.P.

Fleet and Operations Overview

Navios Maritime Containers L.P.

Summary of Containership Fleet

29 Vessels (143K TEU)

Average age of combined fleet: 12.3 years ~ 5% younger than industry average (1)

2 Vessels	2 Vessels	22 Vessels	3 Vessels
10,000 TEU	8,204 TEU	4,250 - 4,730 TEU	3,450 TEU
Total: 20,000 TEU	Total: 16,408 TEU	Total: 96,063 TEU	Total: 10,350 TEU

(1) Source: Clarksons

12

Navios Maritime Containers L.P.

Employment Summary

Navios Dedication

Navios Indigo

Navios Summer

Navios Amarillo

Navios Verde

Navios Jasmine

Navios Vermilion

Bermuda

Navios Azure

Navios Nerine

Navios Devotion

Navios Lapis

Bahamas

Navios Dorado

Navios Domino

APL Denver

Navios Verano

Navios Spring

Navios Delight

Navios Unite

Navios Tempo

Navios Miami

Navios Magnolia

Navios Destiny

Navios Amaranth

Navios Felicitas

Navios Utmost

Navios Constellation

Navios Unison

Nov-20-- $6,755 (1)

Nov-20-- $8,518

Nov-20-- $10,517

Dec-20-- $6,610

Dec-20-- $16,164

Dec-20-- $6,996

Dec-20-- $8,147

Dec-20-- $6,960 (2)

Dec-20-- $7,913

Dec-20-- $9,602

Dec-20-- $7,011

Nov-20-- $12,410 Dec-20 --Index (3)

Jan-21-- $7,900

Jan-21-- $13,776

Feb-21 - 7,720
Mar-21-- $8,239
	Apr-21-- $9,036
	Apr-21--$7,961(4)
Nov-20-- $6,996	Apr-21-- $9,023
	May-21-- $23,160
Jan-21-- $13,000	Jul-21 - Index (3)
Nov-20-- $7,219

Nov-20-- $7,900

Nov-20-- $7,900

Nov-20-- $7,999

Nov-20-- $7,999

Nov-20-- $25,301

May-21-- $25,301

Nov-21-- $18,022

Nov-21-- $18,022

Nov-21- $18,022

Dec-21-- $18,121

Dec-21-- $18,121

Aug-22-- $21,656

May-26-- $26,276

May-26-- $26,276

Oct-20

Apr-21

Oct-21

Apr-22

Oct-22

Daily charter-out rate net of commissions, where applicable. See fleet appendix for further detail

Charter expiration dates shown reflect expected redelivery date

1. Charterer's option to extend the charter for 4-6 months at $8,010 net per day
2. Charterer's option to extend the charter for 12 months +/- 30 days at $11,580 net per day
3. The market rate will be calculated according to the Container Ship Time Charter Assessment Index (ConTex) as published for a 4,250 TEU vessel for a 12 month period

(4) Charterer's option to extend the charter for 8 months +/- 30 days at $10,326 net per day	13

Navios Maritime Containers L.P.

Industry Overview

Navios Maritime Containers L.P.

World Container Trade 1996-2021

m TEU

220	1996 - 2019 CAGR = 6.5%
200
180
160
140
120
100
80
60
40
20
0

1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006
					World Trade							Trade

2007	2008

Growth

- 0.1%				World GDP			- 4.4%			growth
- 9.5% (12.5) M TEU	Container trade	-3.0% (6.0) M TEU
													25%
													20%
		13.7%											15%
								5.6%	4.2%		5.5%	10%
					5.0%	4.5%		5%
							1.8%
						2.1%							0%
	-9.5%								-3.0%		-5%
											-10%
2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019 P	2020 F	2021 F	-15%
%				World GDP Growth % (RHS)

IMF GDP Growth (%)	2019		2020	2021
	World
June 2020	2.9		- 4.9	5.4	World seaborne
					TEU
October 2020	2.8		- 4.4	5.2
	container trade growth:
Advanced Economies GDP
June 2020	1.7		- 8.0	4.8	2019P	1.8%
October 2020	1.7		- 5.8	3.9
Emerging Markets GDP			2020F	-3.0%
June 2020	3.7		- 3.0	5.9
October 2020	3.7		- 3.3	6.0	2021F	5.5%
Emerging and Developing Asia GDP
June 2020	5.5		-0.8	7.4
October 2020	5.5		-1.7	8.0

Source: Clarkson Research Services, IMF Oct 2020

15

Navios Maritime Containers L.P.

Changing Trading Patterns Favor NMCI Fleet

• Transpacific Eastbound trade (China to US), contracted by 15% YoY in May but has since turned around posting an 11% YoY growth in July; Far East to USWC hit highest levels ever at close to $4,000/FEU
• Containership capacity on Transpacific routes reached an all time record of 530,000 TEU at the end of September
• Chinese early economic restart raised demand in Intra Asian trades with volumes in June and July exceeding 2019 levels
• Drivers for the recent trade increases come from e-commerce, PPE and restocking as US consumer activity recovered: US retail sales were up 27% from April to June (400k TEU of PPE have moved so far in 2020)

Shanghai / USWC ($/FEU)
5,000		2015-2019 Min/Max
4,000		Avg	+184%
		2019
		2020
3,000
2,000
1,000
0	Feb Mar	Apr May Jun Jul	Aug Sep Oct Nov Dec
Jan

Containership Calls by Region, TEU % yoy		Eastbound Transpacific Trade Growth %YoY

Source: Clarksons, Container Trade Statistics (CTS), Alphaliner weekly 39
Note: YoY growth based on CTS selected basket of trades representing 85% of global trade	16

Navios Maritime Containers L.P.

Containership Idle Capacity

• Idle capacity adjusted for scrubber retrofits is 1.4% compared to 9.2% at end May and 2.2% at beginning January
• • Total of 130 idle containerships as of mid October 2020, 421 vessels less than May's total idle fleet of 551
  • Only 11 containerships were retrofitting scrubbers, of which there were 9 retrofits on ships over 7,500 TEU

TEU	100-999		1,000-1,999		2,000-2,999	3,000-3,999
4,000-5,099		5,100-7,499		7,500-9,999	10,000 +
2,200,000
2,000,000
1,800,000
1,600,000
1,400,000												84%
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
	Jan-2011	Jan-2012	Jan-2013	Jan-2014	Jan-2015	Jan-2016	Jan-2017	Jan-2018	Jan-2019	1 Jan 20	25 May 20	12 Oct 20
% of					1.4%					NoRetro	NoRetro	NoRetro
total	2.3%	4.1%	5.1%	4.5%	7.1%	7.3%	2.1%	2.8%	2.2%	9.2%	1.4%
fleet

Source: Alphaliner Monthly Monitors including Oct 2020;

Adjusted idle basis Alphaliner Weekly 2020 Issues 02, 22, and 42

17

Navios Maritime Containers L.P.

Containership Orderbook

Orderbook by year of delivery:

(Actual # vessels delivered: 2016 = 134; 2017 = 157; 2018 = 179; 2019 = 162; 2020 YTD = 101)

• Orderbook as of October 2020 of 8.0% among lowest ever as percentage of fleet(1)

'000 TEU	Non-deliveries
1,500

Before non-delivery

6%	64
1,000
500	1,064	1,139	947
				351
0	2019	2020	2021	2022	2023
				0

On 1/1/2020

2020 orderbook = 1.1 M TEU

(before non deliveries)

Expected 2020 Net fleet

growth ~ 2.3%*

Current orderbook of 8.0%

lowest ever as

percentage of fleet (1)

'000 TEU

Containership orderbook skewed to larger sized vessels

1,400				80%
1,200	2020	2021	2022		2023

1,000

800

600

400

200

0

0-1,9992,000-2,9993,000-3,9994,000-5,0995,100-7,4997,500-9,99910,000-12,999 13,000+ Source: Clarksons; 2019 Non-deliveries are preliminary;

*Clarksons Expected net fleet growth based on 0.78 M TEU deliveries for 2020 (32% non delivery rate) and 0.24M TEU removals Orderbook on 10/26/20: Total= 1.89 M TEU; 2020= 0.24 M TEU; 2021= 1.18 M TEU; 2022+= 0.47 M TEU

(1) Orderbook as of Oct 2020 of 8.0% lowest ever pct of fleet at month start (min 8.0% - max 61.3%)

• ~ 80% of containership orderbook is for vessels of 10,000+ TEU
• ~ 63% of orderbook is for vessels of 13,000+
  TEU
• ~ 17% of orderbook is for vessels of 10,000 - 13,000 TEU

18

Navios Maritime Containers L.P.

Container Net Fleet, Age Profile + Historical Scrapping

	Deliveries				Removals			Net fleet growth
Year	Actual		Projected	% Non-	Year	TEU		% of	Year	TEU		% of Fleet	Fleet Period
	Delivery		Fleet		End
2020 Sep	665	K	844	K	25%	2020	184	K	0.8%	2020(1)	489	K	2.1%	23,452	K
2019	1,063	K	1,128	K	6%	2019	183	K	0.8%	2019	880	K	4.0%	22,963	K
2018	1,298	K	1,667	K	22%	2018	126	K	0.6%	2018	1,173	K	5.6%	22,083	K
2017	1,177	K	1,686	K	30%	2017	407	K	2.0%	2017	769	K	3.8%	20,910	K
2016	913	K	1,341	K	32%	2016	666	K	3.3%	2016	247	K	1.2%	20,141	K
2015	1,661	K	1,889	K	12%	2015	202	K	1.1%	2015	1,459	K	7.9%	19,894	K
2014	1,526	K	1,624	K	6%	2014	376	K	2.2%	2014	1,151	K	6.7%	18,435	K
2013	1,368	K	1,840	K	26%	2013	456	K	2.8%	2013	913	K	5.6%	17,284	K
2012	1,274	K	1,578	K	19%	2012	349	K	2.3%	2012	925	K	6.0%	16,371	K

Removals

Year	Total (,000 TEU)	% of Fleet
2004	9.0	0.14%
2005	4.4	0.06%
2006	26.7	0.32%
2007	26.6	0.28%
2008	108.5	0.99%
2009	381.7	3.09%
2010	150.4	1.15%
2011	94.6	0.66%
2012	348.8	2.26%
2013	455.5	2.78%
2014	375.5	2.17%
2015	201.9	1.10%
2016	665.8	3.35%
2017	407.3	2.02%
2018	125.8	0.60%
2019	183.4	0.83%
2020 YTD	184.4	0.80%

Source: Clarksons; Unless noted, all data in TEU; Provisional through 10/26/20

Container Fleet Age Profile (% TEU)
25%
20%
15%	12.9%	4.58 M TEU
10%
5%	5.2%
0%	1.5%
25+ yrs	20-24 yrs	15-19 yrs

Total container fleet: 5,397

2020 Deliveries: 101 ships, 674K TEU to 10/26/20

Expected 2020 net fleet growth ~ 2.3%*

1. Net Fleet Growth reflects provisional deliveries and scrapping thru 10/26/20
2. • Expected growth basis 0.78 M TEU deliveries and 0.24 M scrapping

19

Navios Maritime Containers L.P.

Demand and Liner Profitability Drive Container Rates Up

• Classic Panamax (4,000 to 5,100 TEU) charter rates have witnessed a rapid recovery after hitting lows of $6,500 to $7,000/day in May
• Recent rates for one year charters on Classic Panamax have reached $19,750/day
• A 5,000 TEU ship received $20,000/day for a Pacific round voyage of 35 days, a level not seen since 2011
• Rates in the Atlantic for Panamax ships are about $18,000 to $19,000/day

# Available Non-Liner Co Ships (10/2/20)		Classic Panamax Rates (2000-end Oct 2020)

USD 19,750 / day

Source: Alphaliner, Clarksons	20

Navios Maritime Containers L.P.

Cascading Benefits 4,000-5,100 TEU Vessels - Intra Asia

• 4,000-5,100TEU vessels' share increased by 91% in Intra Asia deployment from 2012 to 2020 making it the size with the highest deployment growth as vessels trading in Asian ports are getting bigger
• 4,000-5,100TEU vessels increased by 111% on the Far East to North America deployment from 118K TEU in June to 248K TEU in October 2020 as freight rates and demand increased significantly

NMCI Baby Panamaxfleet deployment (1)

Intra Asia deployment share per containership size

(42%)

(27%)
45%	33%

29%

9%

91%

20%
	12%
2012	2020

100-999TEU

2012

2020

1,000-1,999TEU

	23%
18%
2012	2020

2,000-2,999TEU

	3.3
3.0	%
%
2012	2020
3,000-3,999TEU

	25%
13%
2012	2020
4,000-5,100TEU

(1) NMCI Baby Panamax fleet voyages for Oct 2019 - Jan 2020. (Source: Clarksons SeaNet)	21
Source: Alphaliner Oct 2020;

Navios Maritime Containers L.P.

7,500-10,000 TEU Vessels - the Workhorses of Containerships

	In ~63% of worldwide containership
Worldwide Containership Deployments
deployments, 7,500-10,000 vessels dominate

Far East - EU	EU - US
(10,000+ teu
Far East - US
vessels - 95%
of the trade )	Africa related

4.5	Million TEU	3.92
	3.74
4.0
3.5
3.0
2.5		2.21

20%	M East related

2.0

1.91

63%	Lat Am related

1.5

1.39

		Oceania related
Intra Asia	17%	trade
Intra Europe
and other
(0-5,100 teu	vessels -

93% of the trade)

1.00.67

0.5	0.17
0.0

Source: Trade map based on Clarkons SeaNet (7,500-10,000 TEU mid Feb - Mid Apr 2018). Vessel deployment data from Alphaliner Oct 2020

22

Navios Maritime Containers L.P.

Review of Q3 2020 and 9M 2020 Results

Navios Maritime Containers L.P.

NMCI Q3 2020 and 9M 2020 Earnings Highlights

Earnings Highlights
(Figures in $'000, except per unit	Three Month Period	Three Month Period	Nine Month Period	Nine Month Period
Ended	Ended	Ended	Ended
data)
September 30, 2020	September 30, 2019	September 30, 2020	September 30, 2019
Revenue	$26,381	$37,031	$95,432	$102,541
EBITDA *	5,791	16,641	30,657	41,419
Net (Loss)/Income	(1,070)	4,071	1,820	4,572
(Loss)/Earnings Per Unit (basic	$(0.03)	$0.12	$0.05	$0.13
and diluted)
Fleet Summary Data
	Three Month Period	Three Month Period	Nine Month Period	Nine Month Period
	Ended	Ended	Ended	Ended
	September 30, 2020	September 30, 2019	September 30, 2020 September 30, 2019
Available Days *	2,668	2,646	7,905	7,685
Time Charter Equivalent (TCE) *	$9,639	$13,453	$11,352	$12,768
Active Vessels at Period End	29	29	29	29

* See definitions included on slide 3

24

Navios Maritime Containers L.P.

NMCI Balance Sheet
Selected Balance Sheet Data (in $'000)
	September 30, 2020	December 31, 2019
Cash & cash equivalents (1)	8,293	18,109
Vessels and deferred dry dock and special survey costs, net	406,902	415,143
Other assets (including current and non-current)	19,616	20,762
Intangible assets	-	6,288
Total Assets	434,811	460,302
Other current liabilities	4,568	24,664
Current portion of long term borrowings, net	32,590	46,733
Long term borrowings, net of current portion	207,636	198,925
Total Partners' capital	190,017	189,980
Total Liabilities & Partners' capital	434,811	460,302
Net Debt / Book Capitalization	53.9%	52.2%

(1) Includes restricted cash.

25

Navios Maritime Containers L.P.

Appendix

Navios Maritime Containers L.P.

Navios Containers Fleet

Vessel Name	TEU	Built	Employment	Exp. Date (2)	Charter Rate (1)
Navios Summer (3)	3,450	2006	TC	Nov-2020	$10,517
Navios Verano (3)	3,450	2006	TC	Apr-2021	$9,036
Navios Spring (3)	3,450	2007	TC	Apr-2021	$7,961
Navios Amaranth (3)	4,250	2007	TC	Nov-2020 /Dec-2021	$7,999 / $18,121
Navios Indigo (3)	4,250	2007	TC	Nov-2020	$8,518
Navios Vermillion (3)	4,250	2007	TC	Dec-2020	$8,147
Navios Verde (3)	4,250	2007	TC	Dec-2020	$16,164
Navios Amarillo (3)	4,250	2007	TC	Dec-2020	$6,610
Navios Azure (3)	4,250	2007	TC	Dec-2020	$7,913
Navios Domino (3)	4,250	2008	TC	Feb-2021	$7,720
Navios Delight (3)	4,250	2008	TC	Nov-2020 /Apr-2021	$6,996 / $9,023
Navios Dedication (3)	4,250	2008	TC	Nov-2020	$6,755
Navios Devotion (3)	4,250	2009	TC	Dec-2020	$7,011
Navios Destiny (3)	4,250	2009	TC	Nov-2020 /Nov-2021	$7,900 / $18,022
Navios Lapis	4,250	2009	TC	Nov-2020 /Dec-2020	$12,410 / Index (4)
Navios Tempo	4,250	2009	TC	Jan-2021 /July-2021	$13,000 / Index (4)
Navios Dorado	4,250	2010	TC	Jan-2021	$13,776
Navios Felicitas	4,360	2010	TC	Nov-2020 /Dec-2021	$7,999 / $18,121
Bahamas	4,360	2010	TC	Jan-2021	$7,900
Bermuda	4,360	2010	TC	Dec-2020	$6,960
Navios Miami	4,563	2009	TC	Nov-2020 /Nov-2021	$7,219 / $18,022
Navios Magnolia	4,730	2008	TC	Nov-2020 /Nov-2021	$7,900 / $18,022
Navios Jasmine	4,730	2008	TC	Dec-2020	$6,996
APL Denver	4,730	2008	TC	Mar-2021	$8,239
Navios Nerine	4,730	2008	TC	Dec-2020	$9,602
Navios Utmost (3)	8,204	2006	TC	Aug-2022	$21,656
Navios Unite (3)	8,204	2006	TC	May-2021	$23,160
Navios Unison (5)	10,000	2010	TC	May-2021 /May-2026	$25,301 / $26,276
Navios Constellation (5)	10,000	2011	TC	Nov-2020 /May-2026	$25,301 / $26,276
Total - 29 vessels	142,821

(1) Daily charter-out rate net of commissions, where applicable

(2) Charter expiration dates shown reflect expected redelivery date

(3) The vessel is subject to a sale and leaseback transaction for a period of up to five years, at which time we have an obligation to purchase the vessel

(4) The market rate will be calculated according to the Container Ship Time Charter Assessment Index (ConTex) as published for a 4,250 TEU vessel for a 12-month period

(5) The vessel is subject to a sale and leaseback transaction for a period of up to seven years, at which time we have an obligation to purchase the vessel

27

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