Navios Maritime Partners L P : Second Quarter 2023 Earnings Presentation

Navios Maritime Partners L.P. (NYSE:NMM)

Second Quarter 2023

Earnings Presentation

August 23, 2023

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Forward-Looking Statements

This presentation contains and will contain 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, TCE rates and Navios Partners' expected cash flow generation, future contracted revenues, future distributions and its ability to make distributions going forward, opportunities to reinvest cash accretively in a fleet renewal program or otherwise, potential capital gains, its ability to take advantage of dislocation in the market and Navios Partners' growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters and Navios Partners' ability to refinance its debt on attractive terms, or at all. 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 Partners at the time these statements were made. Although Navios Partners 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 Partners. 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 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, the economic condition of the markets in which we operate, shipyards performing scrubber installations, construction of newbuilding vessels, drydocking and repairs, changing vessel crews and availability of financing; potential disruption of shipping routes due to accidents, wars, diseases, pandemics, political events, piracy or acts by terrorists; uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters, our ability to maximize the use of our vessels, expected demand in the dry and liquid cargo shipping sectors in general and the demand for our drybulk, containerships and tanker vessels in particular, fluctuations in charter rates for drybulk, containerships and tanker vessels, the aging of our fleet and resultant increases in operations costs, the loss of any customer or charter or vessel, the financial condition of our customers, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, fluctuation in interest rates and foreign exchange rates, and the impact of the discontinuance of the London Interbank Offered Rate for US Dollars, or LIBOR, after June 30, 2023, increases in costs and expenses, including but not limited to: crew, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Partners operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Partners' filings with the Securities and Exchange Commission, including its Form 20-Fs and Form 6-Ks. Navios Partners 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 Partners' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Partners makes no prediction or statement about the performance of its common units.

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Highlights

Leading

Publicly

Listed Fleet

Scale:

175 vessels

Diversification:

3 segments 15+ asset classes

Modern Fleet:

Average age =

9.8 years

Financial

Strength

$4.4 billion

gross fleet value

$2.2 billion

net fleet equity

$3.3 billion

contracted revenue

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Strength Through Diversification

Chartering strategy

Optimizing

generating consistent

Profitability

Cyclical opportunity

Capturingallowing optimal

Capital Allocation

Segment specific volatility

Counteringcreating

Balance Sheet Strength

A diversified platform provides stable entity-level returns

despite uneven segment performance

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Fleet Snapshot - 175 Vessels

81 Dry Bulk Vessels

9.9 million dwt

Average age (1): 10.4 years

(industry average: 11.9 years)

36 Capesize Vessels	39 Panamax Vessels	6 Handymax - Handysize Vessels
6.5 million dwt	3.1 million dwt	0.3 million dwt

47 Containerships

235,414 TEU

Average age (1): 10.8 years

(industry average: 14.2 years)

2 Vessels	2 Vessels	5 Vessels	10 Vessels	21 Vessels	3 Vessels	4 Vessels
10,000 TEU	7,700 TEU	6,800 TEU	5,300 TEU	4,250-4,730 TEU	3,450 TEU	2,000-3,400 TEU
20,000 TEU	15,400 TEU	34,000 TEU	53,000 TEU	91,813 TEU	10,350 TEU	10,851 TEU

47 Tanker Vessels

5.7 million dwt

Average age (1): 8.3 years

(industry average: 12.7 years)

11 Crude Tankers		36 Product Tankers
11 VLCC tankers	6 Aframax/LR2 tankers	8 LR1	21 MR2	1 MR1
280,000 - 320,000 dwt	115,000 dwt	60,000 - 85,000 dwt	47,000 - 52,000 dwt	35,000 - 45,000 dwt

1. Average age based on a dwt basis, basis fully delivered fleet.

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