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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13A-16 OR 15D-16

OF THE SECURITIES EXCHANGE ACT OF 1934

DATED: ~~May 22~~September 12, 2024

Commission File No. 001-33811

NAVIOS MARITIME PARTNERS L.P.

7 Avenue de Grande Bretagne, Office 11B2

Monte Carlo, MC 98000 Monaco

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐ ☐

~~Table~~NAVIOS ofMARITIME ~~Contents~~PARTNERS L.P.

~~NAVIOS~~FORM ~~MARITIME~~6-K ~~PARTNERS L.P.~~

~~FORM~~TABLE ~~6-K~~OF CONTENTS

TABLE OF CONTENTS


		Page
Operating and Financial Review and Prospects		1
Exhibit List		21
INDEX		F-1

	Page
Operating and Financial Review and Prospects		1
Exhibit List		19
INDEX		F-1

This report on Form 6-K is hereby incorporated by reference into the Navios Maritime Partners L.P. Registration Statement on Form F-3, File No. 333-271842.

~~This~~Operating ~~report~~and onFinancial ~~Form~~Review ~~6-K~~and ~~is hereby incorporated by reference into the Navios Maritime Partners L.P. Registration Statement on Form F-3, File No. 333-271842.~~ Prospects

~~Operating~~The following is a discussion of the financial condition and ~~Financial~~results ~~Review~~of operations for the three and ~~Prospects~~six month periods ended June 30, 2024 and 2023 of Navios Maritime Partners L.P. (referred to herein as “we”, “us”, “Company” or “Navios Partners”). All of the financial statements have been stated in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). You should read this section together with the consolidated financial statements and the accompanying notes included in Navios Partners’ 2023 annual report filed on Form 20-F on April 3, 2024 (the “Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”).

~~The~~This ~~following~~report iscontains aand ~~discussion~~will contain forward-looking statements (as defined in Section 27A of the ~~financial~~Securities ~~condition~~Act of 1933, as amended, and ~~results~~Section 21E of ~~operations~~the ~~for~~Securities ~~the~~Exchange ~~three~~Act ~~month~~of ~~periods~~1934, ~~ended~~as ~~March 31~~amended) concerning future events, ~~2024~~TCE rates (as defined herein), and ~~2023~~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 ~~Maritime~~ Partners’ ~~L.P.~~growth ~~(referred~~strategy and measures to ~~herein~~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 “wemay,” “expects,” “usintends,” “plans,” “~~Company~~believes,” or“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. ~~All~~Although ofNavios Partners believes that the ~~financial~~expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been ~~stated~~correct. inThese ~~accordance~~statements ~~with~~involve ~~generally~~risks ~~accepted~~and ~~accounting~~are ~~principles~~based inupon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the ~~United~~ ~~States~~control of ~~America~~Navios ~~(“U~~Partners.S. ~~GAAP”)~~Actual results may differ materially from those expressed or implied by such forward-looking statements. ~~You~~Factors ~~should~~that ~~read~~could ~~this~~cause ~~section~~actual ~~together~~results ~~with~~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 ~~consolidated~~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, sanctions, 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 dry bulk, containerships and tanker vessels in particular, fluctuations in charter rates for dry bulk, 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 ~~statements~~condition of our customers, changes in the availability and costs of funding due to conditions in the ~~accompanying~~bank ~~notes~~market, ~~included~~capital markets and other factors, fluctuation in ~~Navios~~interest ~~Partners’~~rates ~~2023~~and ~~annual~~foreign ~~report~~exchange ~~filed~~rates, onincreases ~~Form~~in 20costs 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-Fregulatory onorganization ~~April 3~~standards, ~~2024~~as (well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the ~~“Annual~~market ~~Report”)~~in which Navios Partners operates; risks associated with operations outside the ~~U.S.~~United ~~Securities~~States; and ~~Exchange~~other ~~Commission~~factors (listed from time to time in Navios Partners’ filings with the “SEC”), including its Form 20-F and Form 6-K.

This report 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 (as defined herein), 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, sanctions, 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 dry bulk, containerships and tanker vessels in particular, fluctuations in charter rates for dry bulk, 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, 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 SEC, including its Form 20-F and Form 6-K. 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. 1

1Navios 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.

~~Table~~Recent ~~of Contents~~Developments

~~Recent~~In ~~Developments~~July 2024, Navios Partners took delivery of the Zim Falcon and the Zim Pelican, two 2024-built 5,300 TEU Containerships from an unrelated third party.

In ~~April~~July ~~2024~~ and ~~May~~August 2024, Navios Partners ~~took~~agreed ~~delivery~~to ofsell ~~the~~two ~~Zim~~2009-built ~~Condor~~MR2 Product Tanker vessels of 50,542 adwt ~~2024-built~~and 550,~~300~~470 ~~TEU~~dwt, ~~Containership~~respectively, ~~and~~a ~~the~~2005-built ~~Nave~~Post-Panamax ~~Cosmos~~vessel of 87,052 dwt and a ~~2024~~2006-built ~~Aframax/LR2~~ Kamsarmax vessel of 82,790 ~~respectively~~dwt, ~~from~~to unrelated third parties, for aggregate gross sale proceeds of $78.5 million. The sale of the 2005-built Post-Panamax vessel of 87,052 dwt was completed on August 26, 2024 and the sales of the remaining three vessels are expected to be completed during the second half of 2024.

In ~~May~~July and September 2024, Navios Partners ~~completed~~acquired from unrelated third parties, the ~~sale~~Navios ofCitrine, a ~~2006~~previously chartered-in 2017-built ~~Panamax~~Kamsarmax vessel of 7681,~~596~~ 626 dwt, ~~and~~the Navios Dolphin, a ~~2009~~previously chartered-in 2017-built ~~VLCC~~Kamsarmax vessel of ~~297~~81,~~188~~630 dwt toand ~~unrelated~~the ~~third~~Navios ~~parties~~Amber, a previously chartered-in 2015-built Kamsarmax vessel of 80,994 dwt, for an aggregate ~~gross~~purchase ~~sale~~price ~~proceeds~~ of $6588.8 0 million.

In ~~connection~~August ~~with its cybersecurity risk management program~~2024, ~~the~~Navios ~~Company~~Partners ~~has~~took ~~appointed~~delivery ~~Mr. Efstratios~~of ~~Desypris~~the asNave ~~its~~Polaris, ~~Cyber~~a ~~Security~~2024-built ~~Officer.~~Aframax/LR2 ~~Mr. Desypris~~vessel ~~will report to the Company’s Board~~ of ~~Directors~~115,699 dwt and ~~be responsible for~~ the ~~oversight~~Zim ofSeagull, ~~the Company’s~~a ~~cybersecurity~~2024-built ~~processes~~5,300 ~~policies,~~TEU ~~and~~Containership ~~governance~~from ~~frameworks.~~unrelated third parties.

~~Overview~~In August 2024, Navios Partners renewed its management agreements (the “Master Management Agreement”) and its administrative services agreement (the “Renewed Administrative Services Agreement,” together with the Master Management Agreement, the “Agreements”) with Navios Shipmanagement Inc. and its affiliates (the “Manager”) which are entities affiliated with the Navios Partners’ Chairwoman and Chief Executive Officer commencing January 1, 2025, for a term of ten years, renewing annually. The Conflicts Committee of the Board of Directors, consisting of independent directors, negotiated and approved the Agreements with the advice of Watson Farley & Williams LLP as legal advisor and KPMG Advisors Single Member S.A. (a member firm of the KPMG global organization of independent member firms) as financial advisor. The Renewed Administrative Services Agreement provides for reimbursement of allocable general and administrative costs. The Master Management Agreement provides for technical and commercial management and related specialized services based on fee structure, including: (i) a technical management fee of $950 per day per owned vessel; (ii) a commercial management fee of 1.25% on revenues; (iii) an S&P fee of 1% on purchase or sales price; and (iv) fees for other specialized services (e.g. supervision of newbuilding vessels). Fixed fees will be adjusted annually for United States Consumer Price Index. The Master Management Agreement also allows for fixed incentive awards if equity returns exceed certain thresholds, as identified in such agreement, upon the unanimous consent of the Board of Directors of Navios Partners. The Agreements provide for payment of a termination fee, which termination fee for the Master Management Agreement is equal to the net present value of the technical and commercial management fees charged for the most recent calendar year for the number of years remaining for the Master Management Agreement, using a 6% discount rate and such termination fee for the Renewed Administrative Services Agreement is equal to the costs charged for the most recent calendar year, each as set forth in the latest audited annual financial statements.

~~We are an international owner and operator of dry cargo and tanker vessels that was formed in August 2007 by Navios Holdings. We have been a public company since November 2007.~~ Overview

AsWe ofare ~~May 16,~~an ~~2024,~~international ~~there~~owner ~~were outstanding 30,184,388 common units~~ and ~~622,296~~operator ~~general~~of ~~partnership~~dry ~~units.~~cargo ~~Angeliki Frangou, our Chief Executive Officer~~ and ~~Chairwoman~~tanker ~~beneficially~~vessels ~~owns~~that anwas ~~approximately~~formed ~~16.7%~~in ~~common~~August ~~interest~~2007 ofby ~~the~~Navios ~~total outstanding common units including 4,672,314 common units held through four entities affiliated with her~~Holdings. AnWe ~~entity~~have ~~affiliated~~been ~~with~~a ~~Angeliki Frangou~~public ~~beneficially~~company ~~owns~~since ~~622,296~~November ~~general partnerships units, representing an approximately 2~~2007.~~0% ownership interest in Navios Partners based on all outstanding common units and general partnership units.~~

~~Fleet~~As of September 4, 2024, there were outstanding 29,937,815 common units and 622,296 general partnership units. Angeliki Frangou, our Chief Executive Officer and Chairwoman beneficially owns an approximately 16.8% common interest of the total outstanding common units including 4,672,314 common units held through four entities affiliated with her. An entity affiliated with Angeliki Frangou beneficially owns 622,296 general partnerships units, representing an approximately 2.0% ownership interest in Navios Partners based on all outstanding common units and general partnership units.

In July 2022, the Board of Directors of Navios Partners’ ~~fleet~~authorized ~~consists~~a ofcommon 76unit ~~dry bulk~~repurchase ~~vessels,~~program 46for ~~containerships~~up ~~and~~to 54$100.0 ~~tanker~~million ~~vessels,~~of ~~including~~Navios 17Partners’ ~~newbuilding~~common ~~tankers~~units. ~~(11~~Common ~~Aframax/LR2~~unit ~~and~~repurchases ~~six~~will ~~MR2~~be ~~product~~made ~~tanker~~from ~~chartered-~~time to time for cash in ~~vessels~~open ~~under~~market ~~bareboat~~transactions ~~contracts),~~at ~~that~~prevailing ~~are~~market ~~expected~~prices toor ~~be delivered~~in ~~through~~privately ~~2027~~negotiated transactions. The timing and ~~nine~~amount ~~newbuilding~~of ~~containerships~~repurchases ~~(seven~~under ~~5,300~~the ~~TEU~~program ~~containerships~~will ~~and~~be ~~two~~determined ~~7,700~~by ~~TEU~~Navios ~~containerships),~~Partners’ ~~that~~management ~~are~~based ~~expected~~upon tomarket beconditions ~~delivered~~and ~~through~~financial ~~2025.~~and ~~The~~other ~~fleet~~considerations, ~~excludes~~including ~~one~~working ~~containership~~capital ~~agreed~~and toplanned beor ~~sold~~anticipated growth opportunities. The

We generate revenues by charging our customers for the use of our vessels to transport their dry cargo commodities, containers, crude oil and/or refined petroleum products. In general, the vessels in our fleet are chartered-out under time charters, which range in length from one to 12 years at inception. From time to time, we operate vessels in the spot market until the vessels have been chartered out under short-term, medium and long-term charters. 2

program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the Navios Partners’ discretion and without notice. The ~~following~~Board ~~table~~of ~~provides~~Directors ~~summary~~will ~~information~~review ~~about~~the ~~our fleet~~program asperiodically. As of ~~May 16~~September 4, 2024:, Navios Partners had repurchased 246,573 common units, for a total cost of approximately $12.2 million.

Owned Drybulk Vessels	Type	Built		Capacity(DWT)		Charter-OutRate(1)		Index(2)	ExpirationDate(3)
Navios Vega	Transhipper		2009		57,573	$	25,800	No	Jan-29
Navios Christine B	Ultra-Handymax		2009		58,058	$	12,673 —	No 99.0% average BSI 58 10TC	Jun-24 Aug-24
Navios Celestial	Ultra-Handymax		2009		58,063	$	12,350 —	No 100% average BSI 58 10TC	Jun-24 Apr-25
Navios La Paix	Ultra-Handymax		2014		61,485	$	12,654 —	No 111.0% average BSI 58 10TC	Jun-24 Jul-24
N Amalthia	Panamax		2006		75,318		—	90.0% average BPI 82	Apr-25
Navios Hope	Panamax		2005		75,397		—	100.0% average BPI 4TC	Aug-24
Navios Sagittarius (5)	Panamax		2006		75,756	$	12,128 —	No 100.0% average BPI 82 less $1,286	Jun-24 Sep-24
Navios Taurus	Panamax		2005		76,596	$	12,113	No	May-24
Navios Galileo	Panamax		2006		76,596	$	12,350	No	Jun-24
Navios Sun	Panamax		2005		76,619	$	13,331 —	No 100.0% average BPI 82 less $1,286	Jun-24 Dec-24

Fleet

2Navios Partners’ fleet consists of 74 dry bulk vessels, 48 containerships and 56 tanker vessels, including 20 newbuilding tankers (14 Aframax/LR2 and six MR2 product tanker chartered-in vessels under bareboat contracts), that are expected to be delivered through the first half of 2028, and seven newbuilding containerships (three 5,300 TEU containerships, two 7,700 TEU containerships and two 7,900 TEU containerships), that are expected to be delivered through 2026. The fleet excludes two MR2 product tankers and one Kamsarmax that have been agreed to be sold.

~~Table~~We generate revenues by charging our customers for the use of ~~Contents~~our vessels to transport their dry cargo commodities, containers, crude oil and/or refined petroleum products. In general, the vessels in our fleet are chartered-out under time charters, which range in length from one to 12 years at inception. From time to time, we operate vessels in the spot market until the vessels have been chartered out under short, medium and long-term charters.

Navios Asteriks (24)	Panamax	2005	76,801	$	12,368 —	No 100.0% average BPI 82 less $1,286	Jun-24 Sep-24
Navios Helios	Panamax	2005	77,075	$ $	13,538 16,055	No No	May-24 Jun-24
Navios Victory	Panamax	2014	77,095	$	12,664 —	No 96.0% average BPI 82	Jun-24 Oct-24
Unity N	Panamax	2011	79,642	$	12,206 —	No 89.0% average BPI 4TC	Jun-24 Oct-24
Odysseus N	Panamax	2011	79,642	$	14,250	No	Sep-24
Rainbow N	Panamax	2011	79,642	$	14,060	No	May-24
Navios Avior	Kamsarmax	2012	81,355		—	100.0% average BPI 82	Jan-25
Navios Centaurus	Kamsarmax	2012	81,472	$	13,132 —	No 101.0% average BPI 82	Jun-24 Nov-24
Navios Horizon I (24)	Kamsarmax	2019	81,692	$ $	18,259 18,786 —	No No 110.0% average BPI 82	Jun-24 Sep-24 Apr-25
Navios Galaxy II (6)	Kamsarmax	2020	81,789	$ $	13,612 18,421 —	No No 112.5% average BPI 82	Jun-24 Sep-24 Dec-24
Navios Uranus (6)	Kamsarmax	2019	81,821	$ $	19,235 18,806 —	No No 112.0% average BPI 82	Jun-24 Sep-24 Apr-26
Navios Felicity I (6)	Kamsarmax	2020	81,962	$ $ $	19,082 18,699 18,425 —	No No No 114.0% average BPI 82	Jun-24 Sep-24 Dec-24 Jan-25
Navios Primavera (5)	Kamsarmax	2022	82,003	$	14,872 —	No 115.0% average BPI 82	Jun-24 Sep-24
Navios Meridian (5)	Kamsarmax	2023	82,010	$ $	14,633 17,650 —	No No 115.5% average BPI 82	Jun-24 Sep-24 Nov-24
Navios Herakles I (6)	Kamsarmax	2019	82,036	$ $	13,733 19,016 —	No No 113.5% average BPI 82	Jun-24 Sep-24 Nov-24
Navios Magellan II (6)	Kamsarmax	2020	82,037	$ $	14,430 17,934 —	No No 112.0% average BPI 82	Jun-24 Sep-24 Nov-24
Navios Sky (5)	Kamsarmax	2015	82,056	$	13,579 —	No 105.0 % average BPI 82	Jun-24 Sep-24
Navios Harmony	Kamsarmax	2006	82,790	$ $	12,513 15,400	No No	May-24 Aug-24
Navios Alegria (24)	Kamsarmax	2016	84,852	$	14,197	No	Jul-24
Navios Sphera	Kamsarmax	2016	84,872	$ $	18,714 18,831 —	No No 110.0% of average BPI 82	Jun-24 Sep-24 Oct-25
Navios Apollon I	Post-Panamax	2005	87,052	$	17,100	No	Jun-24
Copernicus N	Post-Panamax	2010	93,062	$	12,350	No	May-24
Navios Stellar (5)	Capesize	2009	169,001		—	97.0% average BCI 5TC	Jun-26
Navios Aurora II	Capesize	2009	169,031		—	99.0% average BCI 5TC	Jul-24
Navios Antares (5)	Capesize	2010	169,059		—	100.0% average BCI 5TC	Feb-25
Navios Symphony	Capesize	2010	178,132		—	102.75% average BCI 5TC	Apr-26
Navios Ace (5)	Capesize	2011	179,016		—	107.25% average BCI 5TC	Feb-25
Navios Melodia	Capesize	2010	179,132		—	104.0% average BCI 5TC	Apr-26
Navios Luz	Capesize	2010	179,144		— —	106.0% average BCI 5TC 105.5% average BCI 5TC	Aug-24 Oct-25
Navios Altamira	Capesize	2011	179,165		—	107.0% average BCI 5TC	Mar-25
Navios Azimuth (24)	Capesize	2011	179,169		—	105.0% average BCI 5TC	Feb-25
Navios Etoile	Capesize	2010	179,234		—	105.0% average BCI 5TC	Feb-25
Navios Buena Ventura	Capesize	2010	179,259	$	23,342 —	No 105.0% average BCI 5TC	Dec-24 Feb-25
Navios Bonheur	Capesize	2010	179,259		—	104.0% average BCI 5TC	Jan-25
Navios Fulvia	Capesize	2010	179,263		—	105.0% average BCI 5TC	Feb-25
Navios Aster	Capesize	2010	179,314	$	23,495	No	Dec-24
Navios Ray (5)	Capesize	2012	179,515		—	105.0% average BCI 5TC	Jan-25
Navios Happiness	Capesize	2009	180,022	$	22,626 —	No 109.0% average BCI 5TC	Dec-24 Apr-25
Navios Bonavis (5)	Capesize	2009	180,022		—	103.0% average BCI 5TC	Apr-26


The following table provides summary information about our fleet as of September 5, 2024:

Owned Drybulk Vessels	Type	Built	Capacity (DWT)		Charter-Out Rate(1)		Index(2)	Expiration Date(3)
Navios Vega	Transhipper	2009		57,573	$	25,800	No	Jan-29
Navios Christine B	Ultra-Handymax	2009		58,058		—	99.0% average BSI 58 10TC	Oct-24
Navios Celestial	Ultra-Handymax	2009		58,063		—	100% average BSI 58 10TC	Apr-25
Navios La Paix	Ultra-Handymax	2014		61,485		—	111.0% average BSI 58 10TC	Apr-26
N Amalthia	Panamax	2006		75,318		—	90.0% average BPI 82	Apr-25
Navios Hope	Panamax	2005		75,397		—	100.0% average BPI 82 less $1,283	Mar-25
Navios Sagittarius (5)	Panamax	2006		75,756		—	100.0% average BPI 82 less $1,286	Nov-24
Navios Taurus	Panamax	2005		76,596	$	9,975	No	Sep-24
					$	10,450	No	Oct-24
Navios Galileo	Panamax	2006		76,596	$	13,775	No	Dec-24
Navios Sun	Panamax	2005		76,619		—	100.0% average BPI 82 less $1,286	Dec-24
Navios Asteriks (23)	Panamax	2005		76,801		—	100.0% average BPI 82 less $1,286	Oct-24
Navios Helios	Panamax	2005		77,075		—	100.0% average BPI 82 less $1,283	Jun-25
Navios Victory	Panamax	2014		77,095		—	96.0% average BPI 82	Dec-25
Unity N	Panamax	2011		79,642		—	89.0% average BPI 82	Dec-25
Odysseus N	Panamax	2011		79,642	$	14,250	No	Sep-24
						—	90.0% average BPI 82	Jul-25
Rainbow N	Panamax	2011		79,642	$	13,775	No	Nov-24
Navios Avior	Kamsarmax	2012		81,355		—	100.0% average BPI 82	Jan-25
Navios Centaurus	Kamsarmax	2012		81,472		—	101.0% average BPI 82	Nov-24
Navios Amber	Kamsarmax	2015		80,994	$	17,290	No	Apr-26
Navios Horizon I (23)	Kamsarmax	2019		81,692	$	18,786	No	Sep-24
						—	110.0% average BPI 82	Apr-25
Navios Galaxy II (6)	Kamsarmax	2020		81,789	$	18,421	No	Sep-24
						—	112.5% average BPI 82	Dec-24
Navios Uranus (6)	Kamsarmax	2019		81,821	$	18,806	No	Sep-24
						—	112.0% average BPI 82	Apr-26
Navios Felicity I (6)	Kamsarmax	2020		81,962	$	18,699	No	Sep-24
					$	18,425	No	Dec-24
						—	114.0% average BPI 82	Jan-25
Navios Primavera (5)	Kamsarmax	2022		82,003		—	115.0% average BPI 82	Nov-24
Navios Meridian (5)	Kamsarmax	2023		82,010	$	17,650	No	Sep-24
						—	115.5% average BPI 82	Nov-24
Navios Herakles I (6)	Kamsarmax	2019		82,036	$	19,016	No	Sep-24
						—	113.5% average BPI 82	Nov-24
Navios Magellan II (6)	Kamsarmax	2020		82,037	$	17,934	No	Sep-24
						—	112.0% average BPI 82	Nov-24
Navios Sky (5)	Kamsarmax	2015		82,056		—	105.0 % average BPI 82	Sep-24
Navios Harmony (15)	Kamsarmax	2006		82,790	$	15,400	No	Oct-24
Navios Alegria (23)	Kamsarmax	2016		84,852	$	14,197	No	Oct-24
Navios Sphera	Kamsarmax	2016		84,872	$	18,831	No	Sep-24
						—	110.0% of average BPI 82	Oct-25
Navios Coral	Kamsarmax	2016		84,904	$	19,096	No	Sep-24
						—	110.0% average BPI 82	Nov-24
Navios Citrine	Kamsarmax	2017		81,626		—	110.0% average BPI 82	Nov-24
Navios Dolphin	Kamsarmax	2017		81,630	$	14,013	No	Jan-25
					$	15,200	No	Dec-25

~~Table of Contents~~4

Navios Phoenix (5)	Capesize		2009		180,242		$	22,765 —		No 100.0% average BCI 5TC + $1,905 per day	Dec-24 Aug-26
Copernicus N	Post-Panamax	2010		93,062		$	12,208			No	Sep-24
Navios Fantastiks (5)	Capesize		2005		180,265		$	17,575		No	Jun-26
Navios Stellar (5)	Capesize	2009		169,001			—			97.0% average BCI 5TC	Jun-26
Navios Sol (5)	Capesize		2009		180,274			—		108.0% average BCI 5TC	Jun-26
Navios Aurora II	Capesize	2009		169,031			—			99.0% average BCI 5TC	Jan-25
Navios Canary (24)	Capesize		2015		180,528			—		125.0% average BCI 5TC	Jan-25
Navios Antares (5)	Capesize	2010		169,059			—			100.0% average BCI 5TC	Feb-25
Navios Lumen (5)	Capesize		2009		180,661			—		106.0% average BCI 5TC	Jul-26
Navios Symphony	Capesize	2010		178,132			—			102.75% average BCI 5TC	Apr-26
Navios Pollux (5)	Capesize		2009		180,727			—		100.0% of pool earnings	Jul-24
Navios Ace (5)	Capesize	2011		179,016		$	25,472			No	Sep-24
Navios Felix (21)	Capesize		2016		181,221		$	— 28,500	(26)	100.0% average BCI 5TC + $4,085 per day No	Jun-24 May-27
							—			107.25% average BCI 5TC	Feb-25
Navios Corali (24)	Capesize		2015		181,249		$	21,779 —		No 131.0% average BCI 5TC	Dec-24 Jan-25
Navios Melodia	Capesize	2010		179,132			—			104.0% average BCI 5TC	Apr-26
Navios Mars	Capesize		2016		181,259		$	30,278 —		No 128.0% average BCI 5TC	Dec-24 Feb-25
Navios Luz	Capesize	2010		179,144			—			105.5% average BCI 5TC	Oct-25
Navios Gem	Capesize		2014		181,336		$	31,634 —		No 125.0% average BCI 5TC	Dec-24 Apr-26
Navios Altamira	Capesize	2011		179,165		$	25,514			No	Sep-24
Navios Joy	Capesize		2013		181,389			—		Freight Voyages	Aug-25
							—			107.0% average BCI 5TC	Mar-25
Navios Koyo	Capesize		2011		181,415			—		118.0% average BCI 5TC	Jun-24
Navios Azimuth (23)	Capesize	2011		179,169		$	24,115			No	Sep-24
Navios Azalea (6)	Capesize		2022		182,064		$	19,950		No	Nov-27
							—			105.0% average BCI 5TC	Feb-25
Navios Armonia (6)	Capesize		2022		182,079		$	20,750		No	Sep-27
Navios Etoile	Capesize	2010		179,234		$	23,940			No	Sep-24
Navios Altair (6)	Capesize		2023		182,115		$	19,600		No	Nov-27
							—			105.0% average BCI 5TC	Feb-25
Navios Sakura (6)	Capesize		2023		182,169		$	19,550		No	Mar-28
Navios Buena Ventura	Capesize	2010		179,259		$	23,342			No	Dec-24
Navios Amethyst (6)	Capesize		2023		182,212		$	19,550		No	Feb-28
							—			105.0% average BCI 5TC	Feb-25
Navios Astra (14)	Capesize		2022		182,393		$	21,000		No	Aug-27
Navios Bonheur	Capesize	2010		179,259			—			104.0% average BCI 5TC	Jan-25
Navios Fulvia	Capesize	2010		179,263		$	26,184			No	Sep-24
							—			105.0% average BCI 5TC	Feb-25
Navios Aster	Capesize	2010		179,314		$	23,495			No	Dec-24
Navios Ray (5)	Capesize	2012		179,515		$	24,040			No	Sep-24
						$	27,731			No	Dec-24
							—			105.0% average BCI 5TC	Jan-25
Navios Happiness	Capesize	2009		180,022		$	22,626			No	Dec-24
							—			109.0% average BCI 5TC	Apr-25
Navios Bonavis (5)	Capesize	2009		180,022			—			103.0% average BCI 5TC	Apr-26
Navios Phoenix (5)	Capesize	2009		180,242		$	22,765			No	Dec-24
							—			100.0% average BCI5TC + $1,905 per day	Aug-26
Navios Fantastiks (5)	Capesize	2005		180,265		$	17,575			No	Jun-26
Navios Sol (5)	Capesize	2009		180,274			—			108.0% average BCI 5TC	Jun-26
Navios Canary (23)	Capesize	2015		180,528		$	29,213			No	Sep-24
							—			125.0% average BCI 5TC	Jan-25
Navios Lumen (5)	Capesize	2009		180,661		$	26,031			No	Sep-24
						$	28,397			No	Dec-24
							—			106.0% average BCI 5TC	Jul-26
Navios Pollux (5)	Capesize	2009		180,727			—			102.5% average BCI 5TC	Apr-25
Navios Felix (23)	Capesize	2016		181,221		$	28,500		(20)	No	Jan-27
Navios Corali (23)	Capesize	2015		181,249		$	21,779			No	Dec-24
Navios Mars	Capesize	2016		181,259		$	30,278			No	Dec-24
							—			128.0% average BCI 5TC	Feb-25
Navios Gem	Capesize	2014		181,336		$	31,634			No	Dec-24
							—			125.0% average BCI 5TC	Apr-26
Navios Joy	Capesize	2013		181,389			—			Freight Voyages	Aug-25
Navios Koyo	Capesize	2011		181,415		$	28,500			No	Dec-24
							—			118.0% average BCI 5TC	Jan-26
Navios Azalea (6)	Capesize	2022		182,064		$	19,950			No	Nov-27
Navios Armonia (6)	Capesize	2022		182,079		$	20,750			No	Sep-27
Navios Altair (6)	Capesize	2023		182,115		$	19,600			No	Nov-27
Navios Sakura (6)	Capesize	2023		182,169		$	19,550			No	Mar-28
Navios Amethyst (6)	Capesize	2023		182,212		$	19,550			No	Feb-28
Navios Astra (14)	Capesize	2022		182,393		$	21,000			No	Aug-27

Owned Containerships	Capacity(TEU)		Built		Charter-OutRate(1)		Index(2)	ExpirationDate(3)
Spectrum N		2,546		2009	$	36,538	No	Mar-25
Protostar N		2,741		2007	$	11,700	No	Aug-25
Fleur N		2,782		2012	$ $	19,750 19,009	No No	Jun-24 May-26
Ete N		2,782		2012	$ $	12,097 19,009	No No	Jun-24 May-26
Navios Summer (5)		3,450		2006	$ $ $ $	39,795 30,320 20,845 34,110	No No No No	May-24 May-25 May-26 Jul-26
Navios Verano (5)		3,450		2006	$	18,818	No	Apr-26
Navios Spring (15)		3,450		2007	$	19,744	No	May-24
Matson Lanai (5)		4,250		2007	$	55,794	No	Jul-25
Navios Verde (5)		4,250		2007	$	21,725	No	Apr-25
Navios Amarillo (5)		4,250		2007	$ $ $	63,956 28,425 9,475	No No No	Jan-25 Jan-26 Jan-28
Navios Vermilion (5)		4,250		2007	$ $	23,972 41,722	No No	Nov-24 Dec-24
Navios Azure		4,250		2007	$	20,748	No	Apr-26
Navios Indigo (5)		4,250		2007	$ $ $	34,125 24,375 41,438	No No No	Apr-25 Apr-26 Aug-26
Navios Domino (5)		4,250		2008	$	23,453	No	Sep-25
Matson Oahu (5)		4,250		2008	$	19,701	No	Oct-24
Navios Tempo		4,250		2009	$	44,438	No	Sep-25
Navios Destiny (5)		4,250		2009	$ $	23,972 41,722	No No	Oct-24 Nov-24
Navios Devotion (5)		4,250		2009	$ $ $	34,125 24,375 41,438	No No No	Mar-25 Mar-26 Jul-26


Owned Containerships	Capacity (TEU)		Built	Charter-Out Rate(1)		Index(2)	Expiration Date(3)
Spectrum N		2,546	2009	$	36,538	No	Mar-25
Protostar N		2,741	2007	$	11,700	No	Aug-25
Fleur N		2,782	2012	$	19,009	No	May-26
Ete N		2,782	2012	$	19,009	No	May-26
Navios Summer (5)		3,450	2006	$	30,320	No	May-25
				$	20,845	No	May-26
				$	34,110	No	Jul-26
Navios Verano (5)		3,450	2006	$	18,818	No	Apr-26
Matson Lanai (5)		4,250	2007	$	55,794	No	Jul-25
Navios Verde (5)		4,250	2007	$	21,725	No	Apr-25
Navios Amarillo (5)		4,250	2007	$	63,956	No	Jan-25
				$	28,425	No	Jan-26
				$	9,475	No	Jan-28
Navios Vermilion (5)		4,250	2007	$	23,972	No	Nov-24
				$	28,763	No	Mar-27
Navios Azure		4,250	2007	$	20,748	No	Apr-26
Navios Indigo (5)		4,250	2007	$	34,125	No	Apr-25
				$	24,375	No	Apr-26
				$	41,438	No	Aug-26
Navios Domino (5)		4,250	2008	$	23,453	No	Sep-25
Matson Oahu (5)		4,250	2008	$	19,701	No	Oct-24
Navios Tempo		4,250	2009	$	44,438	No	Sep-25
Navios Destiny (5)		4,250	2009	$	23,972	No	Oct-24
				$	28,763	No	Feb-27
Navios Devotion (5)		4,250	2009	$	34,125	No	Mar-25
				$	24,375	No	Mar-26
				$	41,438	No	Jul-26
Navios Lapis		4,250	2009	$	25,000	No	Jun-26
Navios Dorado		4,250	2010	$	21,676	No	Sep-24
				$	24,441	No	May-26
Carmel I		4,360	2010	$	32,689	No	Apr-25
				$	23,214	No	Apr-26
				$	39,795	No	Jun-26
Zim Baltimore		4,360	2010	$	34,125	No	Jan-25
				$	24,375	No	Jan-26
				$	41,438	No	May-26
Navios Bahamas		4,360	2010	$	48,000	No	Apr-25
				$	22,500	No	Jun-27
Navios Miami		4,563	2009	$	23,972	No	Oct-24
				$	28,763	No	Feb-27
Navios Magnolia		4,730	2008	$	23,972	No	Oct-24
				$	28,763	No	Feb-26
Navios Jasmine		4,730	2008	$	48,000	No	Mar-25
				$	22,500	No	May-27
Navios Chrysalis		4,730	2008	$	23,453	No	Jun-25
Navios Nerine		4,730	2008	$	23,972	No	Sep-24
				$	28,763	No	Aug-26
Sparrow		5,300	2023	$	42,900	No	Nov-24
				$	39,000	No	Nov-25
				$	37,050	No	Nov-26
				$	35,100	No	Nov-27
				$	31,200	No	Nov-28
				$	37,050	No	Jan-29
Zim Eagle		5,300	2024	$	42,900	No	Jan-25
				$	39,000	No	Jan-26
				$	37,050	No	Jan-27
				$	35,100	No	Jan-28
				$	31,200	No	Jan-29

~~Table of Contents~~6

Navios Lapis	4,250	2009							Scheduled Repairs
			$	37,050		No		Mar-29
Navios Dorado	4,250	2010		$ $	21,676 24,441		No No		Sep-24 May-26
Zim Condor	5,300	2024	$	42,900		No		Apr-25
Carmel I	4,360	2010		$ $ $	32,689 23,214 39,795		No No No		Apr-25 Apr-26 Jun-26
			$	39,000		No		Apr-26
Zim Baltimore	4,360	2010		$ $ $	34,125 24,375 41,438		No No No		Jan-25 Jan-26 May-26
			$	37,050		No		Apr-27
Navios Bahamas	4,360	2010		$ $	48,000 22,500		No No		Apr-25 Jun-27
			$	35,100		No		Apr-28
Navios Miami	4,563	2009		$ $	23,972 41,722		No No		Oct-24 Nov-24
			$	31,200		No		Apr-29
Navios Magnolia	4,730	2008		$ $	23,972 41,722		No No		Oct-24 Nov-24
			$	37,050		No		Jun-29
Navios Jasmine	4,730	2008		$ $	48,000 22,500		No No		Mar-25 May-27
Zim Hawk	5,300	2024	$	42,900		No		Jun-25
Navios Chrysalis	4,730	2008		$	23,453		No		Jun-25
			$	39,000		No		Jun-26
Navios Nerine	4,730	2008		$ $	23,972 41,722		No No		Sep-24 Oct-24
			$	37,050		No		Jun-27
Sparrow	5,300	2023		$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No		Nov-24 Nov-25 Nov-26 Nov-27 Nov-28 Jan-29
			$	35,100		No		Jun-28
Zim Eagle	5,300	2024		$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No		Jan-25 Jan-26 Jan-27 Jan-28 Jan-29 Mar-29
			$	31,200		No		Jun-29
Zim Condor	5,300	2024		$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No		Apr-25 Apr -26 Apr -27 Apr -28 Apr -29 Jun-29
			$	37,050		No		Aug-29
Hyundai Shanghai	6,800	2006		$ $	30,119 21,083		No No		Aug-24 Aug-29
Zim Falcon	5,300	2024	$	42,900		No		Jul-25
Hyundai Tokyo	6,800	2006		$	21,083		No		Dec-28
			$	39,000		No		Jul-26
Hyundai Hongkong	6,800	2006		$	21,083		No		Dec-28
			$	37,050		No		Jul-27
Hyundai Singapore	6,800	2006		$	21,083		No		Dec-28
			$	35,100		No		Jul-28
Hyundai Busan	6,800	2006		$ $	30,119 21,083		No No		Aug-24 Aug-29
			$	31,200		No		Jul-29
Navios Unison (5)	10,000	2010		$	26,276		No		Jun-26
			$	37,050		No		Sep-29
Navios Constellation (5)	10,000	2011		$	26,276		No		Jun-26
Zim Pelican	5,300	2024	$	42,900		No		Jul-25
			$	39,000		No		Jul-26
			$	37,050		No		Jul-27
			$	35,100		No		Jul-28
			$	31,200		No		Jul-29
			$	37,050		No		Sep-29
Zim Seagull (23)	5,300	2024	$	42,900		No		Aug-25
			$	39,000		No		Aug-26
			$	37,050		No		Aug-27
			$	35,100		No		Aug-28
			$	31,200		No		Aug-29
			$	37,050		No		Oct-29
Hyundai Shanghai	6,800	2006	$	21,083		No		Aug-29
Hyundai Tokyo	6,800	2006	$	21,083		No		Dec-28
Hyundai Hongkong	6,800	2006	$	21,083		No		Dec-28
Hyundai Singapore	6,800	2006	$	21,083		No		Dec-28
Hyundai Busan	6,800	2006	$	21,083		No		Aug-29
Navios Unison (5)	10,000	2010	$	26,276		No		Jun-26
Navios Constellation (5)	10,000	2011	$	26,276		No		Jun-26

Owned Tanker Vessels	Type	Built		Capacity(DWT)		Charter-OutRate(1)			Profit SharingArrangements	ExpirationDate(3)
Hector N	MR1 Product Tanker		2008		38,402	$	20,738		No	Dec-25
Nave Aquila (5)	MR2 Product Tanker		2012		49,991	$	27,156		No	Aug-26
Nave Atria (5)	MR2 Product Tanker		2012		49,992	$	14,887		No	Feb-25
Nave Capella	MR2 Product Tanker		2013		49,995	$	22,138		No	Jan-25
Nave Alderamin	MR2 Product Tanker		2013		49,998	$	22,138		No	Nov-24
Nave Pyxis	MR2 Product Tanker		2014		49,998	$	25,891		No	Jan-25
Nave Bellatrix (5)	MR2 Product Tanker		2013		49,999	$ $	25,675 19,750		No No	Aug-24 Aug-25
Nave Orion (5)	MR2 Product Tanker		2013		49,999	$	22,138		No	Dec-24
Nave Titan	MR2 Product Tanker		2013		49,999	$	25,891		No	Feb-25
Nave Luminosity	MR2 Product Tanker		2014		49,999	$	23,004	(10)	No	Dec-25


Owned Tanker Vessels	Type	Built	Capacity (DWT)		Charter-Out Rate(1)			Profit Sharing Arrangements	Expiration Date(3)
Hector N	MR1 Product Tanker	2008		38,402	$	20,738		No	Dec-25
Nave Aquila (5)	MR2 Product Tanker	2012		49,991	$	27,156		No	Aug-26
Nave Atria (5)	MR2 Product Tanker	2012		49,992	$	14,887		No	Mar-25
Nave Capella	MR2 Product Tanker	2013		49,995	$	22,138		No	Jan-25
Nave Alderamin	MR2 Product Tanker	2013		49,998	$	22,138		No	Nov-24
Nave Pyxis	MR2 Product Tanker	2014		49,998	$	25,891		No	Jan-25
Nave Bellatrix (5)	MR2 Product Tanker	2013		49,999	$	19,750		No	Aug-25
Nave Orion (5)	MR2 Product Tanker	2013		49,999	$	22,138		No	Dec-24
Nave Titan	MR2 Product Tanker	2013		49,999	$	25,891		No	Feb-25
Nave Luminosity	MR2 Product Tanker	2014		49,999	$	23,004	(10)	No	Dec-25
Nave Jupiter	MR2 Product Tanker	2014		49,999	$	21,231		No	Oct-28
Nave Velocity	MR2 Product Tanker	2015		49,999	$	15,553	(11)	No	Oct-24
Nave Sextans	MR2 Product Tanker	2015		49,999	$	23,196	(10)	No	May-26
Nave Equinox	MR2 Product Tanker	2007		50,922	$	20,392	(8)	No	Dec-24
Nave Pulsar	MR2 Product Tanker	2007		50,922	$	21,231	(8)	No	Sep-25
Nave Orbit (15)	MR2 Product Tanker	2009		50,470	$	15,306		No	Oct-24
Nave Equator (15)	MR2 Product Tanker	2009		50,542	Freight Voyage			No	Sep-24
Bougainville	MR2 Product Tanker	2013		50,626	$	21,800	(7)	No	Oct-26
Nave Cetus	LR1 Product Tanker	2012		74,581	$	32,094		No	Jul-25
Nave Ariadne	LR1 Product Tanker	2007		74,671	Floating Rate		(12)	No	Dec-24
Nave Cielo	LR1 Product Tanker	2007		74,671	$	28,144		No	Sep-25
Nave Rigel	LR1 Product Tanker	2013		74,673	$	27,008		No	Mar-29
Nave Atropos	LR1 Product Tanker	2013		74,695	$	21,971		No	Oct-24
					$	27,650		No	Apr-25
Nave Cassiopeia	LR1 Product Tanker	2012		74,711	$	33,150	(13)	No	Jan-25
Nave Andromeda	LR1 Product Tanker	2011		75,000	$	28,394		No	Mar-25
Nave Estella	LR1 Product Tanker	2012		75,000	$	28,394		No	Dec-24
Nave Cosmos (23)	Aframax / LR2	2024		115,651	$	26,366	(21)	No	May-29
Nave Polaris (5)	Aframax / LR2	2024		115,699	$	26,366	(21)	No	Aug-29
Nave Constellation	VLCC	2010		296,988	Floating Rate		(12)	No	Dec-24
Nave Universe	VLCC	2011		297,066	Scheduled Repairs			—	Sep-24
					$	45,672		No	May-26
Nave Galactic	VLCC	2009		297,168	Scheduled Repairs			—	—
Nave Quasar	VLCC	2010		297,376	Floating Rate		(12)	No	Dec-24
Nave Buena Suerte	VLCC	2011		297,491	$	47,906		Yes (16)	Jun-25
Nave Synergy	VLCC	2010		299,973	Scheduled Repairs			—	—


Bareboat-in Vessels	Type	Built	Capacity (DWT)		Charter-Out Rate(1)			Index(2)		Expiration Date(3)
Navios Star	Kamsarmax	2021		81,994		—		112.0% average BPI 82		Apr-25
Navios Amitie	Kamsarmax	2021		82,002	$	19,443		No		Sep-24
					$	18,688		No		Dec-24
						—		112% of average BPI 82		Apr-25
Navios Libra	Kamsarmax	2019		82,011	Scheduled Repairs				—		—
Nave Electron	VLCC	2021		313,239	$	47,906		Yes (16)		Jan-26
Nave Celeste (24)	VLCC	2022		313,418	Floating rate			Yes (4)		Jul-29
Baghdad (24)	VLCC	2020		313,433	$	27,816	(17)	No		Sep-30
Erbil (24)	VLCC	2021		313,486	$	27,816	(17)	No		Feb-31

Nave Jupiter	MR2 Product Tanker		2014			49,999		$	21,231		No	Oct-28
Chartered-in Vessels	Type	Built		Capacity(DWT)			Charter-OutRate(1)				Index(2)	ExpirationDate(3)
Nave Velocity	MR2 Product Tanker		2015			49,999		$	15,553	(11)	No	Oct-24
Navios Venus (19)	Ultra-Handymax	2015			61,339			—			111.0% average BSI 58 10TC	Nov-24
Nave Sextans	MR2 Product Tanker		2015			49,999		$	23,196	(10)	No	May-26
Navios Gemini	Kamsarmax	2018			81,704		$	15,881			No	Nov-24
Nave Equinox	MR2 Product Tanker		2007			50,922		$	20,392	(8)	No	Oct-24
Nave Pulsar (24)	MR2 Product Tanker		2007			50,922		$	21,231	(8)	No	Sep-25
Nave Orbit	MR2 Product Tanker		2009			50,470		$	15,306		No	Oct-24
Nave Equator	MR2 Product Tanker		2009			50,542		$	23,305		No	Oct-24
Bougainville	MR2 Product Tanker		2013			50,626		$	21,800	(7)	No	Oct-26
Nave Cetus	LR1 Product Tanker		2012			74,581		$	32,094		No	Jul-25
Nave Ariadne	LR1 Product Tanker		2007			74,671			Floating Rate	(12)	No	Aug-24
Nave Cielo	LR1 Product Tanker		2007			74,671		$	28,144		No	Sep-25
Nave Rigel	LR1 Product Tanker		2013			74,673		$	27,008		No	Mar-29
Nave Atropos	LR1 Product Tanker		2013			74,695		$	21,971		No	Oct-24
Nave Cassiopeia	LR1 Product Tanker		2012			74,711		$	33,150	(13)	No	Jan-25
Nave Andromeda	LR1 Product Tanker		2011			75,000		$	28,394		No	Mar-25
Nave Estella	LR1 Product Tanker		2012			75,000		$	28,394		No	Dec-24
Nave Cosmos (24)	Aframax / LR2		2024			115,651		$	26,366	(22)	No	May-29
Nave Constellation	VLCC		2010			296,988			Freight Voyage Floating Rate	(12)	No No	Jun-24 Dec-24
Nave Universe	VLCC		2011			297,066			Spot 45,672		— No	Sep-24 May-26
Nave Galactic	VLCC		2009			297,168			Freight voyage		No	May-24
Nave Quasar	VLCC		2010			297,376			Floating Rate	(12)	No	Dec-24
Nave Buena Suerte	VLCC		2011			297,491		$	47,906		Yes(16)	Jun-25
Nave Synergy	VLCC		2010			299,973			Spot		—	—

Bareboat-in Vessels	Type	Built		Capacity(DWT)		Charter-OutRate(1)			Index(2)	ExpirationDate(3)
Navios Star	Kamsarmax		2021		81,994		—		112.0% average BPI 82	Apr-25
Navios Amitie	Kamsarmax		2021		82,002	$	— 19,443 —		112% of average BPI 82 — 112% of average BPI 82	Jun-24 Sep-24 Apr-25
Navios Libra	Kamsarmax		2019		82,011		—		109.75% average BPI 82	Jul-24
Nave Electron	VLCC		2021		313,239	$	47,906		Yes (16)	Jan-26
Nave Celeste (25)	VLCC		2022		313,418		Floating rate		Yes (4)	Jul-29
Baghdad (25)	VLCC		2020		313,433	$	27,816	(17)	No	Sep-30
Erbil (25)	VLCC		2021		313,486	$	27,816	(17)	No	Feb-31

Chartered-in Vessels	Type	Built		Capacity(DWT)			Charter-OutRate(1)			Index(2)	ExpirationDate(3)
Containerships to be Delivered	ExpectedDelivery	Capacity(TEU)			Charter-Out Rate(1)				Index(2)	ExpirationDate(3)
Navios Venus(26)	Ultra-Handymax		2015		61,339		$	13,181 —		No 111.0% average BSI 58 10TC	Jun-24 Oct-24
TBN I (23)	H2 2024		5,300		$	42,900			No	Nov-25
Navios Amber (19)	Kamsarmax		2015		80,994		$	17,290		No	Apr-26
					$	39,000			No	Nov-26
Navios Citrine (19)	Kamsarmax		2017		81,626		$	13,675 —		No 110.0% average BPI 82	Jun-24 Oct-24
					$	37,050			No	Nov-27
Navios Dolphin (19)	Kamsarmax		2017		81,630		$	14,013	(20)	No	Dec-24
					$	35,100			No	Nov-28
Navios Gemini	Kamsarmax		2018		81,704		$	15,881		No	Nov-24
					$	31,200			No	Nov-29
Navios Coral (19)	Kamsarmax		2016		84,904		$ $	17,719 19,096 —		No No 110.0% average BPI 82	Jun-24 Sep-24Nov-24
					$	37,050			No	Jan-30
TBN II (5)	H2 2024		5,300		$	37,500			No	Mar-30
TBN III (5)	H2 2024		5,300		$	37,500			No	Apr-30
TBN VIII	H2 2024		7,700		$	57,213			No	Dec-27
					$	52,238			No	Dec-30
					$	37,313			No	Dec-32
					$	27,363			No	Dec-34
					$	24,875	(22)		No	Dec-36
TBN IX	H1 2025		7,700		$	57,213			No	Jan-28
					$	52,238			No	Jan-31
					$	37,313			No	Jan-33
					$	27,363			No	Jan-35
					$	24,875	(22)		No	Jan-37
TBN XXII	H2 2026		7,900		$	43,000	(25)		No	Jul-30
TBN XXIII	H2 2026		7,900		$	43,000	(25)		No	Oct-30


Tanker Vessels to be Delivered	Type	Expected Delivery	Capacity (DWT)		Charter-Out Rate(1)			Expiration Date(3)
TBN IV (23)	Aframax / LR2	H2 2024		115,000	$	25,576	(21)	Oct-29
TBN V (5)	Aframax / LR2	H2 2024		115,000	$	25,576	(21)	Dec-29
TBN VI (5)	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Mar-30
TBN VII	Aframax / LR2	H1 2025		115,000	$	27,798	(21)	Jun-30
TBN XVI	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	Mar-31
TBN XVII	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	May-31
TBN XVIII	Aframax / LR2	H1 2026		115,000	$	27,776	(18)	Mar-31
TBN XIX	Aframax / LR2	H2 2026		115,000	$	27,776	(18)	Jun-31
TBN XX	Aframax / LR2	H1 2027		115,000	$	28,275	(26)	May-32
TBN XXI	Aframax / LR2	H2 2027		115,000	$	28,275	(26)	Oct-32
TBN XXIV	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	May-32
TBN XXV	Aframax / LR2	H2 2027		115,000	$	27,776	(18)	Sep-32
TBN XXVI	Aframax / LR2	H1 2028		115,000	$	28,144	(27)	Mar-33
TBN XXVII	Aframax / LR2	H1 2028		115,000	$	28,144	(27)	Apr-33
TBN X (6)	MR2 Product Tanker	H2 2025		52,000	$	22,959		Nov-30
TBN XI (6)	MR2 Product Tanker	H1 2026		52,000	$	22,959		May-31
TBN XII (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XIII (6)	MR2 Product Tanker	H2 2026		52,000		—		—
TBN XIV (6)	MR2 Product Tanker	H1 2027		52,000		—		—
TBN XV (6)	MR2 Product Tanker	H1 2027		52,000		—		—

(1)

~~Table~~Daily charter-out rate per day, net of ~~Contents~~commissions.

(2)

Owned Containerships to be Delivered	ExpectedDelivery		Capacity(TEU)		Charter-OutRate(1)			Index(2)	ExpirationDate(3)
TBN I		Q2 2024		5,300	$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No	Jun-25 Jun-26 Jun-27 Jun-28 Jun-29 Aug-29
TBN II		H2 2024		5,300	$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No	Jul-25 Jul-26 Jul-27 Jul-28 Jul-29 Sep-29
TBN III (24)		H2 2024		5,300	$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No	Aug-25 Aug-26 Aug-27 Aug-28 Aug-29 Oct-29
TBN IV (24)		H2 2024		5,300	$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No	Nov-25 Nov-26 Nov-27 Nov-28 Nov-29 Jan-30
TBN V		Q2 2024		5,300	$ $ $ $ $ $	42,900 39,000 37,050 35,100 31,200 37,050		No No No No No No	May-25 May-26 May-27 May-28 May-29 Jul-29
TBN VI (5)		H2 2024		5,300	$	37,500		No	Mar-30
TBN VII (5)		H2 2024		5,300	$	37,500		No	Apr-30
TBN XIII		H2 2024		7,700	$ $ $ $ $	57,213 52,238 37,313 27,363 24,875	(23)	No No No No No	Dec-27 Dec-30 Dec-32 Dec-34 Dec-36
TBN XIV		H1 2025		7,700	$ $ $ $ $	57,213 52,238 37,313 27,363 24,875	(23)	No No No No No	Jan-28 Jan-31 Jan-33 Jan-35 Jan-37

Index rates exclude commissions.

(3)

Tanker Vessels to be Delivered	Type	ExpectedDelivery	Capacity(DWT)		Charter-OutRate(1)			ExpirationDate(3)
TBN VIII (5)	Aframax /LR2	H2 2024		115,000	$	26,366	(22)	Aug-29
TBN IX (24)	Aframax /LR2	H2 2024		115,000	$	25,576	(22)	Oct-29
TBN X (5)	Aframax / LR2	H2 2024		115,000	$	25,576	(22)	Dec-29
TBN XI (5)	Aframax / LR2	H1 2025		115,000	$	27,798	(22)	Mar-30
TBN XII	Aframax / LR2	H1 2025		115,000	$	27,798	(22)	Jun-30
TBN XXI	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	Mar-31
TBN XXII	Aframax / LR2	H1 2026		115,000	$	27,788	(9)	May-31
TBN XXIII	Aframax / LR2	H1 2026		115,000	$	27,776	(18)	May-31
TBN XXIV	Aframax / LR2	H2 2026		115,000	$	27,776	(18)	Sep-31
TBN XXV	Aframax / LR2	H1 2027		115,000	$ $	34,613/ 28,275	(27)	May-30/ May-32
TBN XXVI	Aframax / LR2	H2 2027		115,000	$ $	34,613/ 28,275	(27)	Sep-30/ Sep-32

Estimated dates assuming the midpoint or Company’s estimate of the redelivery period by charterers.

(4)

7Bareboat charter based on adjusted TD3C-WS with floor $26,730 and collar at $36,630.

~~Table of Contents~~9

(5)

TBN XV (6)	MR2 Product Tanker	H2 2025	52,000	$	22,959	Nov-30
TBN XVI (6)	MR2 Product Tanker	H1 2026	52,000	$	22,959	May-31
TBN XVII (6)	MR2 Product Tanker	H2 2026	52,000		—	—
TBN XVIII (6)	MR2 Product Tanker	H1 2027	52,000		—	—
TBN XIX (6)	MR2 Product Tanker	H1 2027	52,000		—	—
TBN XX (6)	MR2 Product Tanker	H1 2027	52,000		—	—

The vessel is subject to a sale and leaseback transaction with a purchase obligation at the end of the lease term.

(6)

~~(1)~~The ~~Daily~~vessel ~~charter-out~~is ~~rate~~subject ~~per~~to ~~day,~~a ~~net~~bareboat contract with a purchase option at the end of ~~commissions~~the contract.

(7)

~~(2)~~Charterer’s ~~Index~~option ~~rates~~to ~~exclude~~extend ~~commissions~~charter for one year at $24,900 net per day.

(8)

~~(3)~~The ~~Estimated~~premium ~~dates~~for ~~assuming~~when the ~~midpoint~~vessel oris ~~Company’s~~trading ~~estimate~~on ofice ~~the~~or ~~redelivery~~follow ~~period~~ice bybreaker ~~charterers~~is $1,481 per day.

(9)

~~(4)~~Charterer’s ~~Bareboat~~option ~~charter~~to ~~based~~extend onthe ~~adjusted~~charter ~~TD3C-WS~~for ~~with~~one ~~floor~~year at $2629,~~730~~738 ~~and~~net ~~collar~~per day plus one year at $3631,~~630~~200 net per day.

(10)

~~(5)~~Charterer’s ~~The~~option ~~vessel is subject~~ to aextend ~~sale~~the ~~and~~charter ~~leaseback~~for ~~transaction~~one ~~with~~year ~~a purchase obligation~~ at ~~the~~$27,913 ~~end~~net ofper ~~the lease term~~day.

(11)

~~(6)~~Charterer’s ~~The~~option ~~vessel~~to isextend ~~subject~~the tocharter afor ~~bareboat~~one ~~contract~~year ~~with~~at a$16,540 ~~purchase~~net ~~option~~per atday ~~the~~plus ~~end~~one ofyear ~~the~~at ~~contract~~$17,528 net per day.

(12)

~~(7)~~Rate ~~Charterer’s~~based ~~option~~on topool ~~extend charter for one year at $24,900 net per day~~earnings.

(13)

~~(8)~~Charterer’s ~~The~~option ~~premium~~to ~~for~~extend ~~when~~ the ~~vessel~~charter isfor ~~trading~~one onyear ~~ice~~at ~~or follow ice breaker is~~ $140,~~481~~950 net per day.

(14)

~~(9)~~The ~~Charterer’s~~vessel ~~option~~is subject to ~~extend~~a ~~the~~bareboat ~~charter~~contract ~~for~~with ~~one~~a ~~year~~purchase atobligation ~~$29,738 net per day plus one year~~ at ~~$31,200~~the ~~net~~end ~~per~~of ~~day~~the contract.

(15)

~~(10)~~Vessel ~~Charterer’s~~has ~~option~~been agreed to ~~extend~~be ~~the charter for one year at $27,913 net per day~~sold.

(16)

~~(11)~~Profit ~~Charterer’s~~sharing ~~option~~arrangement toof ~~extend~~35% ~~the~~above ~~charter~~$54,388, ~~for~~40% ~~one~~above ~~year at~~ $1659,~~540~~388 ~~net~~and ~~per~~50% ~~day~~above ~~plus one year at~~ $1769,~~528 net per day~~388.

(17)

~~(12)~~Charterer’s ~~Rate~~option ~~based~~to onextend ~~pool~~the ~~earnings~~bareboat charter for five years at $29,751 net per day.

(18)

~~(13)~~ Charterer’s option to extend the charter for one year at $4029,~~950~~628 net per day plus one year at $31,578 net per day.

(19)

~~(14)~~ The vessel is subject to a ~~bareboat~~charter-in ~~contract~~agreement with a purchase ~~obligation~~option at the end of the ~~contract~~agreement, classified as a finance lease. Option to acquire the vessel has been declared.

(20)

~~(15)~~Charterer’s ~~Vessel~~option ~~agreed~~to extend the charter for a minimum of 11 to bea ~~sold~~maximum of 15 months at $33,250 net per day.

(21)

~~(16)~~Charterer ~~Profit~~has ~~sharing~~the ~~arrangement~~option ofto ~~35%~~extend ~~above~~for ~~$54,388,~~five ~~40%~~further ~~above~~one-year ~~$59,388~~options ~~and~~at ~~50%~~rates ~~above~~increasing by $691,~~388~~234 net per day each year.

(22)

~~(17)~~ Charterer’s option to extend ~~the bareboat~~ charter for ~~five~~two years at $2924,~~751~~875 net per day.

(23)

~~(18)~~The ~~Charterer’s~~vessel ~~option~~is subject to ~~extend~~a ~~the~~sale ~~charter~~and ~~for~~leaseback ~~one~~transaction ~~year~~with ata ~~$29,628~~purchase ~~net~~option ~~per~~at ~~day~~the ~~plus~~end ~~one~~of ~~year~~the atlease ~~$31,578 net per day~~term.

(24)

~~(19)~~ The vessel is subject to a bareboat charter-inout ~~agreement with a purchase option at the end of the agreement, classified as a finance lease~~contract. ~~Option to acquire the vessel has been declared.~~

(25)

~~(20)~~ Charterer’s option to extend charter for ~~one~~two ~~year~~years at $1547,~~200~~500 net per day.

(26)

~~(21)~~ Charterer’s option tofor ~~extend~~a ~~the~~firm ~~charter~~period ~~for~~of afive ~~minimum~~years ofat 11$28,275 tonet aper ~~maximum~~day ofor 15three ~~months~~years at $3334,~~250~~613 net per day, declarable six months prior to the vessels’ delivery.

(27)

~~(22)~~ Charterer’s ~~has~~option ~~the~~for ~~option~~a tofirm ~~extend~~period ~~for~~of five ~~further~~years ~~one-year~~at ~~options~~$28,144 atnet ~~rates~~per ~~increasing~~day byor three years at $135,~~234~~056 net per day, ~~each~~declarable ~~year~~six months prior to the vessels’ delivery.

~~(23)~~Our ~~Charterer’s option to extend charter for two years at $24,875 net per day.~~Charters

~~(24)~~We ~~The~~provide ~~vessel~~seaborne isshipping ~~subject~~services tounder ashort, ~~sale~~medium, and ~~leaseback~~long-term ~~transaction~~time charters, bareboat charters and voyage charters with acustomers ~~purchase~~that ~~option~~we atbelieve ~~the~~are ~~end~~creditworthy. For each of the ~~lease~~six ~~term~~month periods ended June 30, 2024 and 2023, no customer accounted for 10.0% or more of our total revenues.

~~(25)~~Our ~~The~~revenues ~~vessel~~are isdriven ~~subject~~by tothe anumber ~~bareboat~~of vessels in the fleet, the number of days during which the vessels operate and our charter~~-out~~ ~~contract.~~hire rates, which, in turn, are affected by a number of factors, including:

•

~~(26) The vessel is subject to a charter-in agreement with a purchase option at~~ the ~~end~~duration of the ~~agreement.~~charters;

•

~~(27)~~the ~~Charterer’s~~level ~~option for a firm period~~ of ~~three~~spot ~~years~~and atlong-term ~~$34,613~~market ~~net~~rates ~~per day or five years~~ at ~~$28,275~~the ~~net~~time ~~per~~of ~~day,~~charters; ~~declarable six months prior to the vessels’ delivery.~~

•

8decisions relating to vessel acquisitions and disposals;

•

~~Table~~the amount of ~~Contents~~time spent positioning vessels;

•

~~Our~~the ~~Charters~~amount of time that vessels spend in drydock undergoing repairs and upgrades;

We provide seaborne shipping services under short, medium, and long-term time charters, bareboat charters and voyage charters with customers that we believe are creditworthy. For each of the three month periods ended March 31, 2024 and 2023 no customer accounted for 10~~.0% or more of our total revenues.~~

•

~~Our revenues are driven by~~ the ~~number of vessels in the fleet~~age, ~~the~~condition ~~number~~and specifications of ~~days during which~~ the vessels; ~~operate and our charter hire rates, which, in turn, are affected by a number of factors, including:~~

•

• the ~~duration~~aggregate level of supply and demand in the ~~charters~~liquid, dry and containerized cargo shipping industry;

•

•economic conditions, such as the ~~level~~impact of ~~spot~~inflationary ~~and~~cost ~~long-term~~pressures, ~~market~~decreased consumer discretionary spending, increasing interest rates, atand the ~~time~~possibility of ~~charters~~recession or financial market instability;

•

•armed ~~decisions~~conflicts, ~~relating~~such toas ~~vessel~~Israel’s ~~acquisitions~~war in Gaza, Russian/Ukrainian conflicts and ~~disposals~~the attacks in the Red Sea and in the Gulf of Aden; and

•

• the ~~amount~~outbreak of ~~time~~global ~~spent~~epidemics ~~positioning~~or ~~vessels;~~pandemics.

•Time ~~the~~charters ~~amount~~are ofavailable for varying periods, ranging from a single trip (spot charter) to long-term which may be many years. In general, a long-term time ~~that~~charter assures a consistent stream of revenue to the vessel owner. Operating the vessel in the spot market affords the owner greater spot market opportunity, which may result in high rates when vessels ~~spend~~are in ~~drydock~~high ~~undergoing~~demand ~~repairs~~or low rates when vessel availability exceeds demand. We intend to operate our vessels in the long-term charter market. Vessel charter rates are affected by world economics, international events, weather conditions, strikes, governmental policies, supply and ~~upgrades;~~demand and many other factors that might be beyond our control. Please read the section entitled “Risk Factors” in our Annual Report for a discussion of certain risks inherent in our business.

•We ~~the~~could ~~age,~~lose ~~condition~~a ~~and~~customer ~~specifications~~or the benefits of ~~the~~a ~~vessels;~~charter if:

•

• the ~~aggregate~~customer ~~level~~fails ofto ~~supply~~make ~~and~~charter ~~demand~~payments inbecause ~~the~~of ~~liquid,~~its ~~dry~~financial ~~and~~inability, ~~containerized~~disagreements ~~cargo~~with ~~shipping~~us ~~industry~~or otherwise;

•

~~• economic conditions, such as~~ the ~~impact~~customer ofexercises ~~inflationary~~certain ~~cost~~rights ~~pressures,~~to ~~decreased~~terminate ~~consumer discretionary spending, increasing interest rates, and~~ the ~~possibility~~charter of ~~recession~~the ~~or financial market instability~~vessel;

•

•the ~~armed~~customer ~~conflicts,~~terminates ~~such~~the ascharter because we fail to deliver the ~~Israel’s~~vessel ~~war~~within ona ~~Gaza,~~fixed ~~Russian/Ukrainian~~period ~~conflicts~~of ~~and~~time, the ~~attacks~~vessel inis ~~the~~lost ~~Red~~or ~~Sea~~damaged ~~and~~beyond repair, there are serious deficiencies in the ~~Gulf~~vessel or prolonged periods of ~~Aden~~off-hire, or we default under the charter; ~~and~~or

•

•a prolonged force majeure event affecting the ~~outbreak~~customer, including damage to or destruction of ~~global~~relevant ~~epidemics~~production facilities, war or ~~pandemics~~political unrest prevents us from performing services for that customer.

~~Time~~Under ~~charters~~some ~~are~~of ~~available~~our ~~for~~time ~~varying periods~~charters, ~~ranging~~either ~~from~~party amay ~~single~~terminate ~~trip~~the ~~(spot~~ charter) tocontract ~~long-term~~in ~~which~~the ~~may~~event beof ~~many~~war ~~years.~~in Inspecified ~~general,~~countries aor ~~long-term~~in ~~time charter~~locations ~~assures~~that ~~the~~would ~~vessel~~significantly ~~owner~~disrupt ofthe afree ~~consistent~~trade ~~stream~~ of ~~revenue. Operating~~ the vessel. inSome ~~the~~of ~~spot market affords~~ the ~~owner~~time ~~greater~~charters ~~spot~~covering ~~market~~our ~~opportunity, which may result in high rates when~~ vessels ~~are~~require inus ~~high~~to ~~demand~~return ~~or low rates when vessel availability exceeds demand. We intend~~ to ~~operate our vessels in~~ the ~~long-term charter market. Vessel charter rates are affected by world economics~~charterer, ~~international~~upon ~~events,~~the ~~weather~~loss ~~conditions,~~of ~~strikes,~~the ~~governmental policies~~vessel, ~~supply~~all ~~and~~advances ~~demand~~paid ~~and~~by ~~many other factors that might be beyond our control. Please read~~ the ~~section~~charterer ~~entitled~~but ~~“Risk~~not ~~Factors”~~earned inby ~~our Annual Report for a discussion of certain risks inherent in our business~~us.

WeTrends ~~could~~and ~~lose~~Factors aAffecting ~~customer~~Our orFuture ~~the~~Results ~~benefits~~ of ~~a charter if:~~ Operations

•We believe the ~~customer~~principal ~~fails~~factors tothat ~~make~~will ~~charter~~affect ~~payments~~our ~~because~~future results of ~~its~~operations ~~financial~~are ~~inability~~the economic, ~~disagreements~~regulatory, ~~with~~political usand orgovernmental ~~otherwise;~~conditions that affect the shipping industry generally and that affect conditions in countries and markets in which our vessels engage in business. Please read “Risk Factors” in our Annual Report for a discussion of certain risks inherent in our business.

•Results ~~the customer exercises certain rights to terminate the charter~~ of ~~the vessel;~~Operations

• the customer terminates the charter because we fail to deliver the vessel within a fixed period of time, the vessel is lost or damaged beyond repair, there are serious deficiencies in the vessel or prolonged periods of off-hire, or we default under the charter; orOverview

•The afollowing ~~prolonged~~table ~~force~~reflects ~~majeure~~certain ~~event~~key ~~affecting~~indicators ~~the~~of ~~customer,~~Navios ~~including~~Partners’ ~~damage~~fleet toperformance orfor ~~destruction~~the ofthree ~~relevant~~and ~~production~~six ~~facilities,~~month ~~war~~periods orended ~~political~~June ~~unrest~~30, ~~prevents~~2024 usand ~~from performing services for that customer~~2023.

Under some of our time charters, either party may terminate the charter contract in the event of war in specified countries or in locations that would significantly disrupt the free trade of the vessel. Some of the time charters covering our vessels require us to return to the charterer, upon the loss of the vessel, all advances paid by the charterer but not earned by us.


	Three Month Period Ended June 30, 2024			Three Month Period Ended June 30, 2023			Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Available Days(1)		13,498			13,572			27,038			27,480
Operating Days(2)		13,306			13,474			26,751			27,223
Fleet Utilization(3)		98.6	%		99.3	%		98.9	%		99.1	%
Time Charter Equivalent rate (per day)(4)	$	23,384		$	23,900		$	22,448		$	22,337
Vessels operating at end of periods		151			154			151			154

9 11

(1)

~~Table~~Available days for the fleet represent total calendar days the vessels were in Navios Partners’ possession for the relevant period after subtracting off-hire days associated with scheduled repairs, drydockings or special surveys and ballast days relating to voyages. The shipping industry uses available days to measure the number of ~~Contents~~days in a relevant period during which a vessel is capable of generating revenues.

(2)

~~Trends~~Operating ~~and~~days ~~Factors~~are ~~Affecting~~the ~~Our~~number ~~Future~~of ~~Results~~available days in the relevant period less the aggregate number of ~~Operations~~days that the vessels are off-hire due to any reason, including unforeseen circumstances. The shipping industry uses operating days to measure the aggregate number of days in a relevant period during which vessels actually generate revenues.

(3)

WeFleet ~~believe~~utilization is the ~~principal~~percentage ~~factors~~of time that ~~will~~Navios ~~affect~~Partners’ ~~our~~vessels ~~future~~were ~~results~~available offor ~~operations~~generating ~~are~~revenue, and is determined by dividing the ~~economic,~~number ~~regulatory,~~of ~~political~~operating ~~and~~days ~~governmental~~during ~~conditions~~a ~~that affect~~relevant period by the ~~shipping~~number ~~industry~~of ~~generally~~available ~~and~~days during that ~~affect~~period. ~~conditions~~The inshipping ~~countries~~industry ~~and~~uses ~~markets~~fleet utilization to measure efficiency in ~~which~~finding ~~our~~employment for vessels ~~engage~~and inminimizing ~~business.~~the ~~Please~~amount ~~read~~of ~~“Risk~~days ~~Factors”~~that inits ~~our~~vessels ~~Annual~~are ~~Report~~off-hire for areasons ~~discussion~~other ofthan ~~certain~~scheduled ~~risks~~repairs, ~~inherent~~drydockings inor ~~our~~special ~~business~~surveys.

(4)

~~Results~~Time Charter Equivalent rate (“TCE rate”) per day is defined as voyage, time charter revenues and charter-out revenues under bareboat contracts (grossed up by the applicable fixed vessel operating expenses for the respective periods) less voyage expenses during a period divided by the number of ~~Operations~~available days during the period. The TCE rate per day is a customary shipping industry performance measure used primarily to present the actual daily earnings generated by vessels on various types of charter contracts for the number of available days of the fleet.

~~Overview~~FINANCIAL HIGHLIGHTS

The following table ~~reflects~~presents ~~certain~~consolidated ~~key~~revenue ~~indicators~~and ofexpense ~~Navios~~information ~~Partners’ fleet performance~~ for the three and six month periods ended ~~March 31~~June 30, 2024 and 2023.

	Three MonthPeriod EndedMarch 31, 2024(unaudited)			Three MonthPeriod EndedMarch 31, 2023(unaudited)
	Three Month Period Ended June 30, 2024			Three Month Period Ended June 30, 2023			Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
Available Days(1)		13,540			13,908
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Operating Days(2)		13,445			13,749
	(In thousands of U.S. dollars)
Fleet Utilization(3)		99.3	%		98.9	%
Time charter and voyage revenues	$	342,155		$	346,938		$	660,710		$	656,460
Time Charter Equivalent rate (per day)(4)	$	21,514		$	20,811
Time charter and voyage expenses		(40,044	)		(41,956	)		(81,955	)		(81,719	)
Vessels operating at end of periods		151			156
Direct vessel expenses		(18,916	)		(17,764	)		(36,469	)		(32,204	)
Vessel operating expenses (entirely through related parties transactions)		(85,271	)		(82,550	)		(170,193	)		(165,766	)
General and administrative expenses		(20,584	)		(20,536	)		(41,328	)		(40,035	)
Depreciation and amortization of intangible assets		(56,314	)		(54,037	)		(111,884	)		(108,255	)
Amortization of unfavorable lease terms		3,171			5,322			6,307			12,910
Gain on sale of vessels, net		7,256			10,151			9,133			43,601
Interest expense and finance cost, net		(30,087	)		(33,330	)		(59,496	)		(68,854	)
Interest income		3,596			2,483			6,992			4,100
Other expense, net		(3,493	)		(2,413	)		(6,987	)		(8,765	)
Net income	$	101,469		$	112,308		$	174,830		$	211,473
EBITDA(1)	$	197,008		$	201,601		$	363,163		$	390,437
Adjusted EBITDA(1)	$	189,752		$	191,450		$	354,030		$	346,836
Operating Surplus (1)	$	91,171		$	98,620		$	157,785		$	164,368

(1)

~~(1)~~EBITDA, ~~Available~~Adjusted ~~days~~EBITDA ~~for~~and ~~the~~Operating ~~fleet~~Surplus ~~represent~~are ~~total~~non-GAAP ~~calendar~~financial ~~days~~measures. ~~the~~See ~~vessels~~“Reconciliation ~~were~~of inEBITDA ~~Navios~~and ~~Partners’~~Adjusted ~~possession~~EBITDA ~~for~~to ~~the~~Net ~~relevant~~Cash ~~period~~from ~~after~~Operating ~~subtracting off-hire days associated with scheduled repairs~~Activities, ~~drydockings~~EBITDA ~~or special surveys~~ and ~~ballast~~Operating ~~days~~Surplus” ~~relating~~for toa ~~voyages.~~description ~~The~~of ~~shipping~~EBITDA, ~~industry~~Adjusted ~~uses~~EBITDA ~~available~~and ~~days~~Operating toSurplus ~~measure~~and ~~the~~a ~~number~~reconciliation of ~~days~~EBITDA, inAdjusted aEBITDA ~~relevant~~and ~~period~~Operating ~~during~~Surplus ~~which~~to athe ~~vessel~~most iscomparable ~~capable~~measure ofunder ~~generating~~U.S. ~~revenues~~GAAP.

~~(2)~~Period ~~Operating~~over ~~days~~Period are the number of available days in the relevant period less the aggregate number of days that the vessels are off-hire due to any reason, including unforeseen circumstances. The shipping industry uses operating days to measure the aggregate number of days in a relevant period during which vessels actually generate revenues.Comparisons

~~(3)~~For ~~Fleet utilization is~~ the ~~percentage~~Three ofMonth ~~time~~Period ~~that~~ended ~~Navios~~June ~~Partners’ vessels were available for generating revenue~~30, ~~and~~2024 iscompared ~~determined by dividing the number of operating days during a relevant period by the number of available days during that period. The shipping industry uses fleet utilization~~ to ~~measure efficiency in finding employment for vessels and minimizing~~ the ~~amount~~Three ofMonth ~~days~~Period ~~that~~ended ~~its~~June ~~vessels are off-hire for reasons other than scheduled repairs~~30, ~~drydockings or special surveys.~~2023

(4) Time Charter Equivalent rate (“TCE rate”) per day is defined as voyage, time charter revenues and charter-out revenues under bareboat contracts (grossed up by the applicable fixed vessel operating expenses for the respective periods) less voyage expenses during a period divided by the number of available days during the period. The TCE rate per day is a customary shipping industry performance measure used primarily to present the actual daily earnings generated by vessels on various types of charter contracts for the number of available days of the fleet.12

10Time charter and voyage revenues: Time charter and voyage revenues of Navios Partners for the three month period ended June 30, 2024 decreased by $4.7 million, or 1.4%, to $342.2 million, as compared to $346.9 million for the same period in 2023. The decrease in revenue was mainly attributable to the decrease in the available days of our fleet and the decrease in the TCE rate. For the three month periods ended June 30, 2024 and 2023, time charter and voyage revenues were positively affected by $2.4 million and negatively affected by $7.5 million, respectively, relating to the straight-line effect of the containership and tanker charters with de-escalating rates. For the three month period ended June 30, 2024, the TCE rate decreased by 2.2% to $23,384 per day, as compared to $23,900 per day for the same period in 2023. The available days of the fleet decreased by 0.5% to 13,498 days for the three month period ended June 30, 2024, as compared to 13,572 days for the same period in 2023 mainly due to the sale of vessels, partially mitigated by the deliveries of newbuilding and secondhand vessels.

~~Table~~Time charter and voyage expenses: Time charter and voyage expenses for the three month period ended June 30, 2024 decreased by $2.0 million to $40.0 million, as compared to $42.0 million for the same period in 2023. The decrease was mainly attributable to a: (i) $6.5 million decrease in bareboat and charter-in hire expense of ~~Contents~~the dry bulk fleet; (ii) $1.1 million decrease in bunkers expenses; and (iii) $0.2 million decrease in brokers’ commissions. The decrease was partially mitigated by a: (i) $5.5 million increase in other voyage expenses; and (ii) $0.3 million increase in port expenses.

~~FINANCIAL~~Direct ~~HIGHLIGHTS~~vessel expenses: Direct vessel expenses for the three month period ended June 30, 2024, increased by $1.1 million to $18.9 million, as compared to $17.8 million for the same period in 2023. The increase of $1.1 million was mainly attributable to the amortization of the deferred drydock and special survey costs due to the increase in the number of vessels that underwent drydocking or special survey.

~~The~~Vessel ~~following~~operating ~~table~~expenses: ~~presents~~Vessel ~~consolidated~~operating ~~revenue~~expenses ~~and expense information~~ for the three month ~~periods~~period ended ~~March 31~~June 30, 2024, ~~and~~increased by $2.7 million to $85.3 million, as compared to $82.6 million for the same period in 2023. The increase was mainly due to the expansion of our fleet and the adjustment of the fixed daily fee in accordance with the management agreements (the “Management Agreements”), partially mitigated by the sale of vessels.

	Three Month PeriodEnded March 31, 2024(unaudited)			Three Month PeriodEnded March 31, 2023(unaudited)
	(In thousands of U.S. dollars)
Time charter and voyage revenues	$	318,555		$	309,522
Time charter and voyage expenses		(41,911	)		(39,763	)
Direct vessel expenses		(17,553	)		(14,440	)
Vessel operating expenses (entirely through related parties transactions)		(84,922	)		(83,216	)
General and administrative expenses		(20,744	)		(19,499	)
Depreciation and amortization of intangible assets		(55,570	)		(54,218	)
Amortization of unfavorable lease terms		3,136			7,588
Gain on sale of vessels, net		1,877			33,450
Interest expense and finance cost, net		(29,409	)		(35,524	)
Interest income		3,396			1,617
Other expense, net		(3,494	)		(6,352	)
Net income	$	73,361		$	99,165
EBITDA(1)	$	166,155		$	188,836
Adjusted EBITDA(1)	$	164,278		$	155,386
Operating Surplus (1)	$	66,614		$	65,748

General and administrative expenses: General and administrative expenses increased by $0.1 million to $20.6 million for the three month period ended June 30, 2024, as compared to $20.5 million for the same period in 2023.

~~(1)~~Depreciation ~~EBITDA,~~and ~~Adjusted~~amortization ~~EBITDA~~of intangible assets: Depreciation and ~~Operating~~amortization ~~Surplus~~of ~~are~~intangible ~~non-GAAP~~assets ~~financial~~amounted ~~measures~~to $56.3 ~~See~~million ~~“Reconciliation~~for ofthe ~~EBITDA~~three ~~and~~month ~~Adjusted~~period ~~EBITDA~~ended June 30, 2024, as compared to ~~Net~~$54.0 ~~Cash~~million ~~from~~for ~~Operating~~the ~~Activities,~~same ~~EBITDA~~period ~~and~~in ~~Operating~~2023. ~~Surplus”~~The ~~for~~increase of $2.3 million was mainly attributable to a: ~~description~~(i) $2.9 million increase in depreciation expense due to the delivery of ~~EBITDA,~~nine ~~Adjusted~~vessels ~~EBITDA~~during the last nine months of 2023 and ~~Operating~~the ~~Surplus~~first half of 2024; and (ii) $1.3 million increase in depreciation expense mainly due to vessel improvements. The above increase was partially mitigated by a: ~~reconciliation~~(i) of$1.6 ~~EBITDA,~~million ~~Adjusted~~decrease ~~EBITDA~~in ~~and~~depreciation ~~Operating~~expense ~~Surplus~~due to the ~~most~~sale ~~comparable~~of ~~measure~~11 ~~under~~vessels Usince the second quarter of 2023; and (ii) $0.S3 million decrease in amortization of favorable lease terms. ~~GAAP~~Depreciation of vessels is calculated using an estimated useful life of 25 years for dry bulk and tanker vessels and 30 years for containerships, respectively, from the date the vessel was originally delivered from the shipyard.

~~Period~~Amortization ~~over~~of ~~Period~~unfavorable ~~Comparisons~~lease terms: Amortization of unfavorable lease terms amounted to $3.2 million and $5.3 million for the three month periods ended June 30, 2024 and 2023, respectively, related to the amortization of the fair value of the time charters with unfavorable lease terms as determined at the acquisition date of Navios Maritime Containers L.P. (“Navios Containers”).

~~For~~Gain on sale of vessels, net: Gain on sale of vessels, net amounted to $7.3 million for the ~~Three~~three ~~Month~~month ~~Period~~period ended ~~March 31~~June 30, 2024, ~~compared~~relating to a $14.9 million gain on sale of three of our vessels, partially mitigated by a $7.6 million impairment loss of two of our vessels. Gain on sale of vessels, net amounted to $10.2 million for the ~~Three~~three ~~Month~~month ~~Period~~period ended ~~March 31~~June 30, 2023, relating to the sale of four of our vessels.

~~Time~~Interest ~~charter~~expense and ~~voyage~~finance ~~revenues~~cost, net: ~~Time~~Interest ~~charter~~expense and ~~voyage~~finance ~~revenues~~cost, ofnet ~~Navios Partners~~ for the three month period ended ~~March 31~~June 30, 2024 ~~increased~~decreased by $93.~~1 million, or~~ 2~~.9%,~~ million to $~~318~~30.6 1 million, as compared to $~~309~~33.5 3 million for the same period in 2023. The ~~increase~~decrease ~~in revenue~~ was mainly ~~attributable~~due to the increase in ~~revenue~~interest ~~from~~expense ~~freight~~capitalized ~~voyages.~~related ~~For~~to ~~the~~deposits ~~three~~for ~~month~~vessel ~~periods ended March 31~~acquisitions, ~~2024~~the ~~and~~decrease ~~2023,~~in ~~time~~interest ~~charter~~expense ~~and~~incurred ~~voyage~~on ~~revenues~~credit ~~were~~facilities, ~~positively~~financial ~~affected~~liabilities ~~by $0.1 million~~ and ~~negatively~~finance ~~affected~~lease ~~by $13~~liabilities.~~0 million,~~ ~~respectively,~~The ~~relating~~decrease toin ~~the~~weighted ~~straight-line~~average ~~effect~~interest ofrate ~~the~~for ~~containership and tanker charters with de-escalating rates. For~~ the three month period ended ~~March 31~~June 30, 2024, ~~the~~to ~~TCE~~7.1% ~~rate~~from ~~increased by 3~~7.4% ~~to $21,514 per day, as compared to $20,811 per day~~ for the same period in 2023., ~~The~~was ~~available~~partially ~~days of~~mitigated by the ~~fleet~~increase ~~decreased~~in byNavios ~~2.6%~~Partner’s weighted average loan balance to 13$1,~~540~~930.2 ~~days~~million for the three month period ended ~~March 31~~June 30, 2024, as compared to 13the $1,~~908~~899.3 ~~days~~million for the same period in 2023 ~~mainly due to the sale of vessels, partially mitigated by the deliveries of newbuilding and secondhand vessels~~.

~~Time~~Interest ~~charter and voyage expenses~~income: ~~Time~~Interest ~~charter~~income ~~and~~amounted ~~voyage~~to ~~expenses~~$3.6 million for the three month period ended ~~March 31~~June 30, 2024 ~~increased by $2.1 million to $41.9 million~~, as compared to $392.8 5 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31~~2023, ~~2023. The increase was~~ mainly ~~attributable~~due to ~~a: (i) $3.7 million increase in bunkers expenses arising from~~ the ~~increased days of freight voyages in the first quarter of 2024; (ii) $3.4 million~~ increase ~~in other voyage expenses; and (iii) $0.6 million increase in port expenses. The increase was partially mitigated by a: (i) $5.3 million decrease in bareboat and charter-in hire expense~~ of ~~the~~time ~~tanker and dry bulk fleet; and (ii) $0~~deposits.~~3 million decrease in brokers’ commissions.~~

11 13

~~Table~~Other ofexpense, ~~Contents~~net: Other expense, net for the three month period ended June 30, 2024 increased by $1.1 million to $3.5 million, as compared to $2.4 million for the same period in 2023, mainly due to the increase in expenses related to other miscellaneous expenses, net, claims and foreign exchange differences.

~~Direct~~Net ~~vessel expenses~~income: ~~Direct~~Net ~~vessel~~income ~~expenses~~ for the three month period ended ~~March 31~~June 30, 2024~~, increased~~ byamounted ~~$3.2 million~~ to $17101.6 5 million, as compared to $14112.4 3 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31,~~ 2023. The ~~increase~~decrease in net income of $310.2 8 million was ~~mainly attributable to the amortization of the deferred drydock and special survey costs~~ due to the ~~increase~~factors indiscussed ~~the number of vessels that underwent drydocking or special survey~~above.

~~Vessel~~For ~~operating expenses: Vessel operating expenses for~~ the ~~three~~Six ~~month~~Month ~~period~~Period ended ~~March 31~~June 30, 2024, ~~increased by $1.7 million to $84.9 million, as~~ compared to ~~$83.2 million for~~ the ~~same~~Six ~~period~~Month inPeriod ~~2023.~~ended ~~The~~June ~~increase was mainly due to the adjustment of the fixed daily fee in accordance with the management agreements (the “Management Agreements”)~~30, ~~partially mitigated by the sale of vessels.~~ 2023

~~General~~ Time charter and ~~administrative~~voyage ~~expenses~~revenues: ~~General~~Time charter and ~~administrative~~voyage ~~expenses~~revenues ~~increased~~of byNavios ~~$1.2 million~~Partners ~~to $20.7 million~~ for the ~~three~~six month period ended ~~March 31~~June 30, 2024 increased by $4.2 million, or 0.6%, to $660.7 million, as compared to $19656.5 million for the ~~three~~same ~~month~~ period ~~ended March 31,~~in 2023. The increase in revenue was mainly ~~due~~attributable to athe ~~$1.7 million~~ increase in ~~administrative~~the ~~expenses~~TCE ~~paid~~rate toand the ~~Manager~~increase ~~(as~~in ~~defined~~revenue ~~herein)~~from asfreight ~~per~~voyages. For the ~~administrative~~six ~~services~~month ~~agreement~~periods ~~(the~~ended ~~“Administrative~~June ~~Services~~30, ~~Agreement”); partially~~2024 ~~mitigated~~and 2023, time charter and voyage revenues were positively affected by a$2.5 million and negatively affected by $020.5 million, ~~decrease~~respectively, inrelating ~~legal~~to the straight-line effect of the containership and ~~professional~~tanker ~~fees~~charters with de-escalating rates. For the six month period ended June 30, as2024, ~~well~~the TCE rate increased by 0.5% to $22,448 per day, as ~~audit~~compared ~~fees~~to ~~and~~$22,337 ~~other~~per ~~administrative~~day ~~expenses~~for the same period in 2023. The available days of the fleet decreased by 1.6% to 27,038 days for the six month period ended June 30, 2024, as compared to 27,480 days for the same period in 2023 mainly due to the sale of vessels, partially mitigated by the deliveries of newbuilding and secondhand vessels.

~~Depreciation~~Time charter and ~~amortization~~voyage ~~of intangible assets~~expenses: ~~Depreciation~~Time charter and ~~amortization~~voyage ofexpenses ~~intangible assets amounted to $55.6 million~~ for the ~~three~~ six month period ended ~~March 31~~June 30, 2024 increased by $0.3 million to $82.0 million, as compared to $5481.2 7 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31,~~ 2023. The increase ~~of $1.4 million~~ was mainly attributable to a: (i) $9.1 million increase in other voyage expenses; (ii) $2.6 million increase in ~~depreciation~~bunkers ~~expense due~~expenses toarising from the ~~delivery~~increased days of ~~eight~~freight ~~vessels~~voyages in ~~2023 and during~~ the first ~~quarter~~half of 2024; and (iiiii) $10.2 9 million increase in ~~depreciation~~port ~~expense mainly due to vessel improvements~~expenses. The ~~above~~ increase was partially mitigated by a: (i) an $211.1 8 million decrease in ~~depreciation~~bareboat ~~expense~~and ~~due~~charter-in tohire ~~the~~expense ~~sale~~ of ~~16 vessels in 2023 and during~~ the ~~first~~dry ~~quarter~~bulk ~~of 2024~~fleet; and (ii) a $0.3 5 million decrease in ~~amortization~~brokers’ ~~of favorable lease terms~~commissions. Depreciation of vessels is calculated using an estimated useful life of 25 years for dry bulk and tanker vessels and 30 years for containerships, respectively, from the date the vessel was originally delivered from the shipyard.

~~Amortization~~Direct ofvessel ~~unfavorable~~expenses: ~~lease~~Direct ~~terms:~~vessel ~~Amortization~~expenses offor ~~unfavorable~~the ~~lease~~six ~~terms~~month ~~amounted~~period toended June 30, 2024, increased by $4.3 million to $36.1 5 million, ~~and~~as compared to $732.6 2 million for the ~~three month~~same ~~periods~~period ~~ended~~in ~~March 31,~~2023. ~~2024~~The ~~and~~increase ~~March 31,~~of ~~2023,~~$4.3 ~~respectively,~~million ~~related~~was mainly attributable to the amortization of the ~~fair~~deferred ~~value~~drydock ofand ~~the~~special ~~time~~survey ~~charters~~costs ~~with~~due ~~unfavorable~~to ~~lease terms as determined at~~ the ~~acquisition~~increase ~~date~~in ~~of Navios Maritime Containers L.P. and at~~ the ~~date~~number of ~~obtaining~~vessels ~~control~~that ofunderwent ~~Navios~~drydocking ~~Maritime~~or ~~Acquisition~~special ~~Corporation~~survey.

~~Gain~~Vessel onoperating ~~sale of vessels, net~~expenses: ~~Gain~~Vessel onoperating ~~sale~~expenses ~~of vessels amounted to $1.9 million~~ for the ~~three~~six month period ended ~~March 31~~June 30, 2024, ~~relating~~increased toby a$4.4 ~~gain~~million onto ~~sale of one of our vessels~~$170.2 ~~Gain on sale of vessels~~million, ~~net~~as ~~amounted~~compared to $33165.5 8 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31,~~ 2023,. ~~relating~~The toincrease ~~a gain~~was onmainly ~~sale~~due ofto ~~eight~~the expansion of our ~~vessels~~fleet ~~amounted~~and tothe ~~$34.1 million,~~adjustment ~~partially~~of ~~mitigated~~the byfixed andaily ~~impairment~~fee ~~loss~~in ofaccordance ~~one~~with ofthe ~~our~~Management ~~vessels~~Agreements, ~~that~~partially ~~amounted~~mitigated toby ~~$0.6 million.~~the sale of vessels.

~~Interest~~General ~~expense~~and administrative expenses: General and ~~finance~~administrative ~~cost,~~expenses ~~net:~~increased ~~Interest~~by ~~expense~~$1.3 ~~and~~million ~~finance~~to ~~cost,~~$41.3 ~~net~~million for the ~~three~~six month period ended ~~March 31~~June 30, 2024 ~~decreased by $6.1 million to $29.4 million~~, as compared to $3540.5 0 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31,~~ 2023. The ~~decrease~~increase was mainly due to ~~the~~a ~~decrease~~$1.6 inmillion ~~the discount effect of long-term assets, the~~ increase in ~~interest~~administrative ~~expense capitalized~~expenses ~~related~~paid to ~~deposits for vessels acquisitions and~~ the ~~decrease~~Manager inas ~~Navios~~per ~~Partner’s weighted average loan balance to $1,888.4 million for~~ the ~~three~~administrative ~~month~~services ~~period~~agreement ~~ended March 31, 2024, as compared to~~ (the ~~$1,904.6 million for~~“Administrative ~~the~~Services ~~three month period ended March 31, 2023~~Agreement”); partially mitigated by ~~the~~ ~~increase~~a of$0.3 ~~the~~million ~~weighted~~decrease ~~average~~in ~~interest~~legal ~~rate~~and ~~for~~professional ~~the three month period ended March 31~~fees, ~~2024~~as towell ~~7.1%~~as ~~from~~audit ~~7.0%~~fees ~~for~~and ~~the~~other ~~three~~administrative ~~month period ended March 31, 2023~~expenses.

~~Interest~~Depreciation ~~income~~and amortization of intangible assets: ~~Interest~~Depreciation ~~income~~and amortization of intangible assets amounted to $3111.4 9 million for the ~~three~~six month period ended ~~March 31~~June 30, 2024, as compared to $1108.6 3 million for the ~~three~~same ~~month~~ period ~~ended~~in ~~March 31,~~ 2023,. The increase of $3.6 million was mainly attributable to a: (i) $5.5 million increase in depreciation expense due to the delivery of 12 vessels in 2023 and during the first half of 2024; and (ii) $2.2 million increase in depreciation expense mainly due to vessel improvements. The above increase was partially mitigated by a: (i) $3.6 million decrease in depreciation expense due to the sale of ~~time~~19 ~~deposits~~vessels in 2023 and during the first half of 2024; and (ii) $0.5 million decrease in amortization of favorable lease terms. Depreciation of vessels is calculated using an estimated useful life of 25 years for dry bulk and tanker vessels and 30 years for containerships, respectively, from the date the vessel was originally delivered from the shipyard.

~~Other~~Amortization ~~expense,~~of ~~net: Other~~unfavorable ~~expense,~~lease ~~net~~terms: ~~for~~Amortization ~~the~~of ~~three~~unfavorable ~~month~~lease ~~period~~terms ~~ended~~amounted ~~March 31, 2024 decreased by $2.9 million~~ to $36.5 3 million, asand ~~compared to~~ $612.4 9 million for the ~~three~~six month ~~period~~periods ended ~~March 31~~June 30, 2024 and 2023, ~~mainly~~respectively, ~~due~~related to the ~~decrease~~amortization ~~in expenses~~of ~~related~~the tofair ~~claims~~value ~~and~~of ~~foreign~~the ~~exchange~~time ~~differences,~~charters ~~partially~~with ~~mitigated~~unfavorable bylease terms as determined at the ~~increase~~acquisition indate ~~other~~of ~~miscellaneous~~Navios ~~expenses,~~Containers ~~net.~~and at the date of obtaining control of Navios Maritime Acquisition Corporation.

12 14

~~Table~~Gain on sale of ~~Contents~~vessels, net: Gain on sale of vessels, net amounted to $9.1 million for the six month period ended June 30, 2024, relating to a $16.7 million gain on sale of four of our vessels, partially mitigated by a $7.6 million impairment loss of two of our vessels. Gain on sale of vessels, net amounted to $43.6 million for the six month period ended June 30, 2023, relating to a gain on sale of 12 of our vessels.

~~Net~~Interest ~~income~~expense and finance cost, net: ~~Net~~Interest ~~income~~expense and finance cost, net for the ~~three~~six month period ended ~~March 31~~June 30, 2024 ~~amounted~~decreased to by $739.4 million to $59.5 million, as compared to $9968.2 9 million ~~net~~for ~~income~~the same period in 2023. The decrease was mainly due to the increase in interest expense capitalized related to deposits for vessel acquisitions, the ~~three~~decrease in the discount effect of long-term assets and the decrease in amortization of finance charges and other finance costs. The decrease in weighted average interest rate for the six month period ended ~~March 31~~June 30, ~~2023~~2024 to 7.1% ~~The~~from ~~decrease~~7.2% for the six month period ended June 30, 2023, was partially mitigated by the increase in ~~net~~Navios ~~income~~Partner’s ofweighted average loan balance to $251,909.8 3 million ~~was~~for ~~due~~the six month period ended June 30, 2024, as compared to the ~~factors~~$1,901.9 ~~discussed~~million ~~above.~~for the six month period ended June 30, 2023.

~~Off-Balance~~Interest ~~Sheet~~income: ~~Arrangements~~Interest income amounted to $7.0 million for the six month period ended June 30, 2024, as compared to $4.1 million for the same period in 2023, mainly due to the increase of time deposits.

WeOther ~~have~~expense, nonet: ~~off-balance~~Other ~~sheet~~expense, ~~arrangements~~net ~~that~~for ~~have~~the orsix ~~are~~month ~~reasonably~~period ~~likely~~ended June 30, 2024 decreased by $1.8 million to ~~have~~$7.0 million, aas ~~current~~compared orto ~~future~~$8.8 ~~material effect~~million onfor ~~our~~the ~~financial~~same ~~condition~~period in 2023, ~~changes~~mainly indue ~~financial~~to ~~condition,~~the ~~revenues~~decrease orin expenses, ~~results~~related ofto ~~operations,~~claims ~~liquidity~~and foreign exchange differences, ~~capital~~partially ~~expenditures~~mitigated orby ~~capital~~the ~~resources.~~increase in other miscellaneous expenses, net.

~~Liquidity~~Net ~~and~~income: ~~Capital~~Net ~~Resources~~income for the six month period ended June 30, 2024 amounted to $174.8 million as compared to $211.5 million net income for the same period in 2023. The decrease in net income of $36.7 million was due to the factors discussed above.

~~We anticipate that our primary sources of funds for our short~~Off-~~term~~Balance ~~liquidity~~Sheet needs will be cash flows from operations, our equity offerings, proceeds from asset sales, long-term bank borrowings and other debt raisings. In addition to distributions on our units, our primary short-term liquidity needs are to fund general working capital requirements, cash reserve requirements including those under our credit facilities and debt service, while our long-term liquidity needs primarily relate to expansion and investment capital expenditures and other maintenance capital expenditures and debt repayment. As of March 31, 2024, Navios Partners’ current assets totaled $443.3 million, while current liabilities totaled $497.6 million, resulting in a negative working capital position of $54.3 million. Navios Partners’ cash forecast indicates that it will generate sufficient cash through its contracted revenue of $3.4 billion as of May 16, 2024 and cash proceeds from the sale of vessels (see Note 14 - Subsequent events to the unaudited condensed consolidated financial statements included elsewhere in this report) to make the required principal and interest payments on its indebtedness, to make payments for capital expenditures, provide for the normal working capital requirements of the business for a period of at least 12 months from the date of issuance of our unaudited condensed consolidated financial statements. Arrangements

~~Generally,~~We ~~our~~have ~~long-term~~no ~~sources of funds derive from cash from operations, long~~off-~~term~~balance ~~bank~~sheet ~~borrowings~~arrangements ~~and~~that ~~other~~have ~~debt~~ or ~~equity~~are ~~financings~~reasonably likely to ~~fund~~have, ~~acquisitions and~~a ~~expansion~~current ~~and~~or ~~investment~~future ~~capital~~material ~~expenditures.~~effect Weon ~~cannot~~our ~~assure~~financial ~~you~~condition, ~~that~~changes wein ~~will~~financial becondition, ~~able~~revenues ~~to secure adequate financing~~ or toexpenses, ~~obtain~~results ~~additional~~of ~~funds~~operations, onliquidity, ~~favorable~~capital ~~terms~~expenditures toor ~~meet~~capital ~~our liquidity needs~~resources.

~~Cash~~Liquidity ~~deposits~~ and ~~cash~~Capital equivalents in excess of amounts covered by government provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Partners does maintain cash deposits and cash equivalents in excess of government provided insurance limits. Navios Partners also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions. Resources

~~Navios~~We ~~Partners~~anticipate ~~may~~that ~~use~~our primary sources of funds tofor ~~repurchase~~our ~~its~~short-term ~~outstanding~~liquidity ~~common~~needs will consist of cash flows from operations, our equity offerings, proceeds from asset sales, long-term bank borrowings and other debt raisings. In addition to distributions on our units, our primary short-term liquidity needs are to fund general working capital requirements, cash reserve requirements including those under our credit facilities and~~/or indebtedness~~ ~~from~~debt ~~time~~service, while our long-term liquidity needs primarily relate to ~~time.~~expansion ~~Repurchases~~and ~~may~~investment becapital ~~made~~expenditures inand ~~the~~other ~~open~~maintenance ~~market~~capital expenditures and debt repayment. As of June 30, or2024, ~~through~~Navios ~~privately~~Partners’ ~~negotiated~~current ~~transactions~~assets ortotaled ~~otherwise~~$448.8 million, while current liabilities totaled $650.3 million, resulting in ~~compliance~~a ~~with~~negative ~~applicable~~working ~~laws~~capital position of $201.5 million, ~~rules~~primarily ~~and~~related ~~regulations~~to balloon payments totaling $287.5 million due under its credit facilities, atfinancial ~~prices~~liabilities and onfinance ~~terms~~lease liabilities that are expected to be refinanced (see Note 6 – Borrowings to the unaudited condensed consolidated financial statements included elsewhere in this report). Navios Partners’ ~~deems appropriate~~cash forecast indicates that it will generate sufficient cash through its contracted revenue, as of September 5, 2024, of $3.7 billion and ~~subject~~cash proceeds from the sale of vessels (see Note 15 – Subsequent events to the unaudited condensed consolidated financial statements included elsewhere in this report) to make the required principal and interest payments on its ~~cash~~indebtedness, ~~requirements~~to make payments for ~~other~~capital ~~purposes~~expenditures, ~~compliance~~provide ~~with~~for the ~~covenants~~normal ~~under~~working ~~Navios~~capital ~~Partners’~~requirements ~~credit~~of ~~facilities,~~the ~~and~~business ~~other~~for ~~factors~~a ~~management~~period ~~deems~~of ~~relevant.~~at least 12 months from the date of issuance of our unaudited condensed consolidated financial statements.

~~In July 2022~~Generally, ~~the~~our ~~Board~~long-term ofsources ~~Directors~~ of ~~Navios~~funds ~~Partners~~derive ~~authorized a common unit repurchase program for up to $100.0 million of the Company’s common units. Common unit repurchases will be made~~ from ~~time to time for~~ cash infrom ~~open~~operations, ~~market~~long-term ~~transactions~~bank atborrowings ~~prevailing~~and ~~market~~other ~~prices~~debt or inequity ~~privately~~financings ~~negotiated~~to ~~transactions.~~fund ~~The~~acquisitions ~~timing~~ and ~~amount~~expansion ~~of repurchases under the program will be determined by Navios Partners’ management based upon market conditions~~ and ~~financial~~investment ~~and other considerations, including working~~ capital ~~and planned or anticipated growth opportunities~~expenditures. AsWe ofcannot ~~May 16,~~assure ~~2024,~~you nothat ~~repurchases~~we ofwill ~~common~~be ~~units~~able ~~have~~to ~~been~~secure ~~made. The~~adequate ~~program~~financing ~~does not require any minimum repurchase~~ or ~~any~~to ~~specific~~obtain ~~number~~additional offunds ~~common~~on ~~units~~favorable ~~and~~terms ~~may~~to bemeet ~~suspended~~our orliquidity ~~reinstated at any time in the Company’s discretion and without notice~~needs. ~~The Board of Directors will review the program periodically.~~

13Cash deposits and cash equivalents in excess of amounts covered by government provided insurance are exposed to loss in the event of non-performance by financial institutions. Navios Partners does maintain cash deposits and cash equivalents in excess of government provided insurance limits. Navios Partners also minimizes exposure to credit risk by dealing with a diversified group of major financial institutions.

~~Table~~Navios ofPartners ~~Contents~~may use funds to repurchase its outstanding common units and/or indebtedness from time to time. Repurchases may be made in the open market, or through privately negotiated transactions or otherwise, in compliance

The following table presents cash flow information derived from the unaudited condensed Consolidated Statements of Cash Flows of Navios Partners for the three month periods ended March 31, 2024 and 2023. 15

	Three MonthPeriod EndedMarch 31, 2024(unaudited)			Three MonthPeriod EndedMarch 31, 2023(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	94,436		$	94,516
Net cash (used in)/ provided by investing activities		(168,073	)		44,232
Net cash provided by/ (used in) financing activities		57,292			(100,635	)
(Decrease)/ increase in cash, cash equivalents and restricted cash	$	(16,345	)	$	38,113

with applicable laws, rules and regulations, at prices and on terms Navios Partners deems appropriate and subject to its cash requirements for other purposes, compliance with the covenants under Navios Partners’ credit facilities, and other factors management deems relevant.

~~Net~~In ~~cash~~July ~~provided~~2022, bythe ~~operating~~Board ~~activities~~of Directors of Navios Partners authorized a common unit repurchase program for ~~the~~up ~~three~~to ~~month~~$100.0 ~~period~~million ~~ended~~of ~~March 31,~~Navios ~~2024~~Partners’ ascommon ~~compared~~units. Common unit repurchases will be made from time to ~~the~~time ~~net~~for cash ~~provided~~ in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of repurchases under the program will be determined by ~~operating~~Navios ~~activities~~Partners’ ~~for~~management based upon market conditions and financial and other considerations, including working capital and planned or anticipated growth opportunities. The program does not require any minimum repurchase or any specific number of common units and may be suspended or reinstated at any time in the ~~three~~Navios ~~month~~Partners’ ~~period~~discretion ~~ended~~and ~~March 31~~without notice. The Board of Directors will review the program periodically. As of September 4, ~~2023~~2024, Navios Partners had repurchased 246,573 common units, for a total cost of approximately $12.2 million.

~~Net~~The ~~cash~~following ~~provided~~table bypresents ~~operating~~cash ~~activities~~flow ~~decreased~~information ~~by $0.1 million~~derived tofrom ~~$94.4 million for~~ the ~~three~~unaudited ~~month~~condensed ~~period~~Consolidated ~~ended~~Statements ~~March 31,~~of ~~2024,~~Cash asFlows ~~compared~~of toNavios ~~$94.5 million~~Partners for the ~~same~~six ~~period~~month inperiods ~~2023.~~ended InJune ~~determining net cash provided by operating activities~~30, ~~net~~2024 ~~income~~and ~~is adjusted for the effects of certain non-cash items as discussed below~~2023.

The aggregate adjustments to reconcile net income to net cash provided by operating activities were $64.4 million of non-cash positive net adjustments for the three month period ended March 31, 2024, which consisted mainly of the following adjustments: (i) $55.6 million depreciation and amortization of intangible assets; (ii) $14.3 million amortization of deferred drydock and special survey costs; and (iii) $1.7 million amortization and write-off of deferred finance costs and discount. These adjustments were partially mitigated by: (i) $3.1 million amortization of unfavorable lease terms; (ii) $1.9 million gain from sale of vessels; (iii) $1.4 million non-cash amortization of deferred revenue and straight-line effect of the containership and tanker charters with de-escalating rates; and (iv) $0.8 million amortization of operating lease assets/ liabilities.


	Six Month Period Ended June 30, 2024			Six Month Period Ended June 30, 2023
	(unaudited)			(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	225,915		$	228,343
Net cash (used in)/ provided by investing activities		(293,957	)		31,665
Net cash provided by/ (used in) financing activities		98,711			(165,054	)
Increase in cash, cash equivalents and restricted cash	$	30,669		$	94,954

~~The~~Net ~~net~~ cash ~~outflow~~provided ~~resulting~~by ~~from the change in~~ operating ~~assets~~activities ~~and liabilities of $43.4 million~~ for the ~~three~~ six month period ended ~~March 31~~June 30, 2024 ~~resulted~~as ~~from:~~compared ~~(i) a $32.0 million decrease in amounts due~~ to ~~related~~the ~~parties;~~net ~~(ii) an~~cash ~~$18.7 million~~provided in payments for drydock and special survey costs; (iii) an $8.6 million decrease in accounts payable; (iv) a $2.6 million decrease in deferred revenue; (v) a $0.9 million increase in accounts receivable; and (vi) a $0.9 million increase in prepaid expenses and other current assets. This was partially mitigated by a:operating ~~(i) $20.1 million~~activities ~~decrease~~for inthe ~~amounts~~six ~~due~~month ~~from~~period ~~related~~ended ~~parties~~June ~~(including~~30, ~~current and non-current portion); and (ii) $0.2 million increase in accrued expenses.~~ 2023

~~The~~Net ~~aggregate adjustments to reconcile net income to net~~ cash provided by operating activities ~~were~~decreased by $352.9 4 million ~~of non-cash~~to ~~positive~~$225.9 ~~net~~million ~~adjustments~~ for the ~~three~~six month period ended ~~March 31~~June 30, ~~2023~~2024, ~~which~~as ~~consisted~~compared ~~mainly~~to ~~of the following adjustments: (i)~~ $54228.~~2 million~~3 ~~depreciation and amortization of intangible assets; (ii) $9.1~~ million ~~non-cash~~for ~~amortization of deferred revenue and straight-line effect of~~ the ~~containerships~~same ~~and~~period ~~tankers~~in ~~charters with de-escalating rates; (iii) $9~~2023.~~1 million~~ ~~amortization~~In ofdetermining ~~deferred~~net ~~drydock~~cash ~~and~~provided ~~special~~by ~~survey costs; (iv) $2.6 million amortization of~~ operating ~~lease~~activities, ~~assets/~~net ~~liabilities;~~income ~~and~~is ~~(v)~~adjusted ~~$2.0 million~~for ~~amortization~~the ~~and write-off~~effects of ~~deferred~~certain ~~finance~~non-cash ~~costs~~items ~~and~~as ~~discount.~~discussed ~~These adjustments were partially mitigated by: (i) $33~~below.~~5 million gain from sale of vessels; and (ii) $7.6 million amortization of unfavorable lease terms.~~

The ~~net~~aggregate ~~cash~~adjustments ~~outflow~~to ~~resulting~~reconcile ~~from~~net ~~the~~income ~~change~~to innet ~~operating~~cash ~~assets~~provided ~~and~~by ~~liabilities~~operating ofactivities were $40122.6 8 million of non-cash positive net adjustments for the ~~three~~six month period ended ~~March 31~~ June 30, ~~2023~~2024, ~~resulted~~which ~~from~~consisted amainly of the following adjustments: (i) $73111.3 9 million ~~decrease~~depreciation inand ~~amounts~~amortization ~~due~~of tointangible ~~related parties~~assets; (ii) $1230.5 3 million inamortization ~~payments~~of ~~for~~deferred drydock and special survey costs; and (iii) $43.8 7 million ~~decrease~~amortization inand ~~accounts~~write-off ~~payable~~of deferred finance costs and discount. ~~This~~These ~~was~~ adjustments were partially mitigated by: (i) a $319.5 1 million ~~decrease~~gain infrom ~~accounts~~sale ~~receivable~~of vessels, net; (ii) an $86.9 3 million ~~increase~~amortization inof ~~deferred~~unfavorable ~~revenue~~lease terms; (iii) a $75.3 1 million ~~increase~~non-cash inamortization ~~accrued~~of ~~expenses;~~deferred ~~(iv) a~~revenue ~~$1.9 million~~and ~~decrease~~straight-line ~~in prepaid~~effect ~~expenses~~of the containership and ~~other~~tanker ~~current~~charters ~~assets~~with de-escalating rates; and (viv) a $02.4 6 million ~~decrease~~amortization inof ~~amounts~~operating ~~due~~lease ~~from~~assets/ ~~related parties~~liabilities.

~~Net~~The net cash ~~used~~outflow resulting from the change in ~~investing activities~~operating assets and liabilities of $71.7 million for the ~~three~~six month period ended ~~March 31~~June 30, 2024 asresulted ~~compared~~from a: (i) $38.6 million in payments for drydock and special survey costs; (ii) $32.0 million decrease in amounts due to ~~the~~related ~~net~~parties; ~~cash~~(iii) ~~provided~~$7.1 million decrease in accounts payable; (iv) $6.0 million decrease in deferred revenue; and (v) $1.0 million decrease in accrued expenses. This was partially mitigated by ~~investing~~a: ~~activities~~(i) ~~for~~$10.1 ~~the~~million ~~three~~decrease ~~month~~in ~~period~~amounts ~~ended~~due ~~March 31,~~from ~~2023~~related parties (including current and non-current portion); (ii) $1.6 million decrease in prepaid expenses and other current assets; and (iii) $1.3 million decrease in accounts receivable.

~~Net~~The aggregate adjustments to reconcile net income to net cash ~~used~~provided inby ~~investing~~operating activities were $108.6 million of non-cash positive net adjustments for the ~~three~~six month period ended ~~March 31~~June 30, ~~2024~~2023, ~~amounted~~which toconsisted mainly of the following adjustments: (i) $~~168~~108.1 3 million asdepreciation ~~compared~~and toamortization of intangible assets; (ii) $4429.2 million ~~net~~ non-cash ~~provided~~amortization byof ~~investing~~deferred ~~activities~~revenue ~~for~~and straight-line effect of the ~~three~~containership ~~month~~and ~~period~~tanker ~~ended~~charters ~~March 31~~with de-escalating rates; (iii) $18.9 million amortization of deferred drydock and special survey costs; (iv) $5.1 million amortization of operating lease assets/ liabilities; and (v) $3.6 million amortization and write-off of deferred finance costs and discount. These adjustments were partially mitigated by: (i) $43.6 million gain from sale of vessels, ~~2023~~net; and (ii) $12.9 million amortization of unfavorable lease terms.

14 16

~~Table~~The net cash outflow resulting from the change in operating assets and liabilities of ~~Contents~~$91.8 million for the six month period ended June 30, 2023 resulted from: (i) a $104.7 million decrease in amounts due to related parties; (ii) a $40.8 million in payments for drydock and special survey costs; (iii) an $8.0 million decrease in accounts payable; and (iv) a $1.8 million increase in amounts due from related parties. This was partially mitigated by a: (i) $43.6 million decrease in accounts receivable; (ii) $9.2 million decrease in prepaid expenses and other current assets; (iii) $7.8 million increase in accrued expenses; and (iv) $2.9 million increase in deferred revenue.

Net cash used in investing activities ~~of $168.1 million~~ for the ~~three~~six month period ended ~~March 31~~June 30, 2024 ~~was~~as ~~mainly~~compared ~~due~~ to: ~~(i) $90.1 million related to deposits for~~ the ~~acquisition/~~net ~~option~~cash toprovided acquire vessels and capitalized expenses; (ii) $49.0 million related to vessels acquisitions and additions; and (iii) $38.5 million related to time deposits with original maturities greater than three months. This was partially mitigated by ~~$9.5 million~~investing ~~proceeds~~activities ~~related~~for to the ~~sale~~six ofmonth ~~one~~period ~~vessel.~~ended June 30, 2023

Net cash ~~provided~~used byin investing activities ~~of $44.2 million~~ for the ~~three~~six month period ended ~~March 31~~June 30, ~~2023~~2024 ~~was~~amounted ~~mainly due~~ to $~~157~~294.6 0 million ~~proceeds~~ ~~related~~as compared to ~~the sale of eight vessels~~$31.7 ~~This~~million ~~was~~net ~~partially~~cash ~~mitigated~~provided by: ~~(i)~~investing ~~$62.1 million~~activities ~~related to deposits~~ for the ~~acquisition/~~same ~~option~~period toin ~~acquire vessels and capitalized expenses; and (ii) $51~~2023.~~3 million related to vessels’ acquisitions and additions.~~

Net cash ~~provided~~used byin ~~financing~~investing activities of $294.0 million for the ~~three~~six month period ended ~~March 31~~June 30, 2024 aswas ~~compared~~mainly due to: ~~net~~(i) ~~cash used~~$211.2 inmillion ~~financing~~related ~~activities~~to vessels acquisitions and additions; and (ii) $182.6 million related to deposits for the ~~three~~acquisition/ ~~month~~option ~~period~~to ~~ended~~acquire ~~March 31,~~vessels ~~2023~~and capitalized expenses. This was partially mitigated by (i) $91.4 million proceeds related to the sale of four vessels; and (ii) an $8.4 million decrease in time deposits with original maturities greater than three months.

Net cash provided by ~~financing~~investing activities ~~increased~~of by $~~157~~31.~~9 million~~7 ~~to $57.3~~ million ~~inflow~~ for the ~~three~~six month period ended ~~March 31,~~June ~~2024~~30, as2023 ~~compared~~was mainly due to $~~100~~215.8 million proceeds related to the sale of 12 vessels. This was partially mitigated by: (i) $113.6 million ~~outflow~~related to deposits for the ~~same~~acquisition/ ~~period~~option into ~~2023~~acquire vessels and capitalized expenses; and (ii) $70.5 million related to vessels’ acquisitions and additions.

Net cash provided by financing activities ~~of $57.3 million~~ for the ~~three~~six month period ended ~~March 31~~June 30, 2024 ~~was~~as ~~mainly~~compared ~~due~~ to ~~$140.7 million proceeds~~net ~~from~~cash ~~the~~used ~~new~~in ~~credit~~financing ~~facilities~~activities ~~and~~for ~~sale and leaseback agreement. This was partially mitigated by: (i) $79.8 million repayments of loans and financial liabilities; (ii) $2.1 million payments of deferred finance costs related to~~ the ~~new~~ ~~credit~~six ~~facilities~~month ~~and~~period ~~financial~~ended ~~liabilities;~~June ~~and~~30, ~~(iii) $1.5 million payments for cash distributions.~~ 2023

Net cash ~~used~~provided inby financing activities of increased by $~~100~~263.6 8 million ~~for the three month period ended March 31, 2023 was mainly due~~ to: ~~(i)~~ $~~172~~98.5 7 million ~~repayments~~inflow offor ~~loans~~the ~~and~~six ~~financial~~month ~~liabilities;~~period ~~(ii)~~ended ~~$2.8 million~~June ~~payments~~30, of2024, ~~deferred~~as ~~finance~~compared ~~costs related~~ to ~~the new credit facilities and financial liability; and (iii)~~ $1165.5 1 million ~~payments~~outflow for ~~cash distributions. This was partially mitigated by $76.2 million proceeds from~~ the ~~new~~same ~~credit~~period ~~facilities~~in ~~and sale and leaseback agreements~~2023.

~~Reconciliation~~Net cash provided by financing activities of ~~EBITDA~~$98.7 ~~and~~million ~~Adjusted~~for ~~EBITDA~~the six month period ended June 30, 2024 was mainly due to ~~Net~~$311.0 ~~Cash~~million proceeds from ~~Operating~~the ~~Activities,~~new ~~EBITDA~~credit facilities and ~~Operating~~sale ~~Surplus~~and leaseback agreements. This was partially mitigated by: (i) $199.2 million repayments of long-term debt and financial liabilities; (ii) $5.0 million related to the acquisition of treasury units; (iii) $5.0 million payments of deferred finance costs related to the new credit facilities and financial liabilities; and (iv) $3.1 million payments for cash distributions.

	Three Month PeriodEnded March 31, 2024(unaudited)			Three Month PeriodEnded March 31, 2023(unaudited)
	(In thousands of U.S. dollars)
Net cash provided by operating activities	$	94,436		$	94,516
Net increase/ (decrease) in operating assets		366			(21,359	)
Net decrease in operating liabilities		42,983			62,023
Net interest cost		26,013			33,907
Amortization and write-off of deferred finance cost		(1,676	)		(2,031	)
Amortization of operating lease assets/liabilities		791			(2,558	)
Non-cash amortization of deferred revenue and straight-line		1,365			(9,111	)
Stock-based compensation		—			(1	)
Gain on sale of vessels, net		1,877			33,450
EBITDA(1)	$	166,155		$	188,836
Gain on sale of vessels, net		(1,877	)		(33,450	)
Adjusted EBITDA(1)	$	164,278		$	155,386
Cash interest income		2,790			1,255
Cash interest paid		(32,113	)		(34,642	)
Maintenance and replacement capital expenditures		(68,341	)		(56,251	)
Operating Surplus(2)	$	66,614		$	65,748

Net cash used in financing activities of $165.1 million for the six month period ended June 30, 2023 was mainly due to: (i) $635.8 million repayments of loans and financial liabilities; (ii) $12.2 million payments of deferred finance costs related to the new credit facilities and financial liability; and (iii) $3.1 million payments for cash distributions. This was partially mitigated by $486.0 million of proceeds from the new credit facilities and sale and leaseback agreement.

15Reconciliation of EBITDA and Adjusted EBITDA to Net Cash from Operating Activities, EBITDA and Operating Surplus

~~Table of Contents~~17

	Three Month PeriodEnded March 31, 2024(unaudited)			Three Month PeriodEnded March 31, 2023(unaudited)
	Three MonthPeriod EndedJune 30, 2024			Three MonthPeriod EndedJune 30, 2023			Six MonthPeriod EndedJune 30, 2024			Six MonthPeriod EndedJune 30, 2023
	(In thousands of U.S. dollars)
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Net cash provided by operating activities	$	94,436		$	94,516
	(In thousands of U.S. dollars)
Net cash (used in)/ provided by investing activities		(168,073	)		44,232
Net cash provided by operating activities	$	131,479		$	133,827		$	225,915		$	228,343
Net cash provided by/ (used in) financing activities		57,292			(100,635	)
Net increase/ (decrease) in operating assets		25,198			11,166			25,564			(10,193	)
Net decrease in operating liabilities		3,122			39,923			46,105			101,946
Net interest cost		26,491			30,847			52,504			64,754
Amortization and write-off of deferred finance cost		(2,033	)		(1,587	)		(3,709	)		(3,618	)
Amortization of operating lease assets/liabilities		1,803			(2,588	)		2,594			(5,146	)
Non-cash amortization of deferred revenue and straight-line		3,692			(20,137	)		5,057			(29,248	)
Stock-based compensation		—			(1	)		—			(2	)
Gain on sale of vessels, net		7,256			10,151			9,133			43,601
EBITDA(1)	$	197,008		$	201,601		$	363,163		$	390,437
Gain on sale of vessels, net		(7,256	)		(10,151	)		(9,133	)		(43,601	)
Adjusted EBITDA(1)	$	189,752		$	191,450		$	354,030		$	346,836
Cash interest income		3,390			2,222			6,180			3,477
Cash interest paid		(35,865	)		(38,350	)		(67,978	)		(72,992	)
Maintenance and replacement capital expenditures		(66,106	)		(56,702	)		(134,447	)		(112,953	)
Operating Surplus(2)	$	91,171		$	98,620		$	157,785		$	164,368

(1) EBITDA and Adjusted EBITDA

EBITDA represents net income before interest and finance costs, depreciation and amortization (including intangible accelerated amortization) and income taxes. Adjusted EBITDA represents EBITDA excluding certain items, as described in the table above. Navios Partners uses Adjusted EBITDA as a liquidity measure and reconciles EBITDA and Adjusted EBITDA to net cash provided by operating activities, the most comparable U.S. GAAP liquidity measure. EBITDA in this document is calculated as follows: net cash provided by operating activities adding back, when applicable and as the case may be, the effect of: (i) net increase/ (decrease) in operating assets; (ii) net decrease in operating liabilities; (iii) net interest cost; (iv) amortization and write-off of deferred finance costs and discount; (v) ~~gain~~ onamortization ~~sale~~ of operating lease assets~~, net~~/ liabilities; (vi) non-cash amortization of deferred revenue and straight-line effect of the containership and tanker charters with de-escalating rates; (vii) stock-based compensation expense; and (viii) ~~amortization~~ ofgain ~~operating~~on ~~lease~~sale ~~assets/~~of ~~liabilities~~vessels, net. Navios Partners believes that EBITDA and Adjusted EBITDA are each the basis upon which liquidity can be assessed and presents useful information to investors regarding Navios Partners’ ability to service and/or incur indebtedness, pay capital expenditures, meet working capital requirements and make cash distributions. Navios Partners also believes that EBITDA and Adjusted EBITDA are used: (i) by 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.

Each of EBITDA and Adjusted EBITDA have limitations as an analytical tool, and should not be considered in isolation or as a substitute for the analysis of Navios Partners’ results as reported under U.S. GAAP. Some of these limitations are: (i) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; and (ii) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future. EBITDA and Adjusted EBITDA do not reflect any cash requirements for such capital expenditures. Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as a principal indicator of Navios Partners’ performance. Furthermore, our calculation of EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies due to differences in methods of calculation.

EBITDA for the three month periods ended ~~March 31~~ June 30, 2024 and 2023 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA ~~increased~~decreased by $81.9 7 million to $~~164~~189.3 8 million for the three month period ended ~~March 31~~June 30, 2024, as compared to $~~155~~191.4 5 million for the same period in 2023. The ~~increase~~decrease in Adjusted EBITDA was primarily due to a: (i) $94.1 7 million ~~increase~~decrease in time charter and voyage revenues; (ii) $2.~~9 million~~7 ~~decrease in other expense, net; and (iii) $1.9~~ million ~~decrease~~increase in ~~direct~~ vessel operating expenses ~~(excluding~~mainly due to the ~~amortization~~expansion of ~~deferred~~our ~~drydock,~~fleet ~~special survey costs~~ and other capitalized items). The above increase was partially mitigated by a: (i) $2.1 million increase in time charter and voyage expenses; (ii) $1.7 million increase in vessel operating expenses mainly due to the adjustment of the fixed daily fee in accordance with our Management Agreements, partially mitigated by the sale of vessels; ~~and~~ (iii) $1.2 1 million increase in ~~general~~other ~~and~~expense, ~~administrative~~net; ~~expenses in accordance with our Administrative Services Agreement.~~

16 18

~~Table~~and (iv) $0.1 million increase in general and administrative expenses. The above decrease was partially mitigated by a: (i) $4.9 million decrease in direct vessel expenses (excluding the amortization of ~~Contents~~deferred drydock, special survey costs and other capitalized items); and (ii) $2.0 million decrease in time charter and voyage expenses.

EBITDA for the six month periods ended June 30, 2024 and 2023 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $7.2 million to $354.0 million for the six month period ended June 30, 2024, as compared to $346.8 million for the same period in 2023. The increase in Adjusted EBITDA was primarily due to a: (i) $7.2 million decrease in direct vessel expenses (excluding the amortization of deferred drydock, special survey costs and other capitalized items); ~~Operating~~(ii) ~~Surplus~~$4.2 million increase in time charter and voyage revenues; and (iii) $1.8 million decrease in other expense, net. The above increase was partially mitigated by a: (i) $4.4 million increase in vessel operating expenses mainly due to the expansion of our fleet and the adjustment of the fixed daily fee in accordance with our Management Agreements, partially mitigated by the sale of vessels; (ii) $1.3 million increase in general and administrative expenses in accordance with our Administrative Services Agreement; and (iii) $0.3 million increase in time charter and voyage expenses.

Navios Partners generated Operating Surplus for the three month period ended March 31, 2024 of $66.6 million, as compared to $65.7 million for the three month period ended March 31, 2023. Operating Surplus is a non-GAAP financial measure used by certain investors to assist in evaluating a partnership’s ability to make quarterly cash distributions (~~See~~2) ~~“Reconciliation of EBITDA and Adjusted EBITDA to Net Cash from~~ Operating ~~Activities, EBITDA and Operating~~ Surplus~~” contained herein).~~

Navios Partners generated Operating Surplus ~~represents~~for ~~net~~the ~~income~~six ~~adjusted~~month ~~for~~period ~~depreciation~~ended ~~and~~June ~~amortization expense~~30, ~~non-cash~~2024 ~~interest~~of ~~expense~~$157.8 million, ~~non-cash~~ ~~interest~~as ~~income,~~compared ~~estimated~~to ~~maintenance~~$164.4 ~~and~~million ~~replacement~~for ~~capital~~the ~~expenditures~~same ~~and~~period ~~one-off~~ended ~~items~~in 2023. ~~Maintenance~~Operating ~~and~~Surplus ~~replacement~~is ~~capital~~a ~~expenditures~~non-GAAP ~~are~~financial ~~those capital~~measure ~~expenditures~~used ~~required~~by certain investors to ~~maintain~~assist ~~over~~in ~~the~~evaluating ~~long~~a ~~term~~partnership’s ~~the~~ability ~~operating~~to ~~capacity~~make quarterly cash distributions (See “Reconciliation of, orEBITDA ~~the~~and ~~revenue~~Adjusted ~~generated~~EBITDA byto Net Cash from Operating Activities, ~~Navios~~EBITDA ~~Partners’~~and ~~capital~~Operating ~~assets.~~Surplus” contained herein).

Operating Surplus isrepresents anet ~~quantitative~~income ~~measure~~adjusted ~~used~~for indepreciation ~~the~~and ~~publicly-traded~~amortization ~~partnership~~expense, ~~investment~~non-cash ~~community~~interest toexpense, ~~assist in evaluating a partnership’s ability to make quarterly~~ non-cash ~~distributions.~~interest ~~Operating~~income, ~~Surplus~~estimated ismaintenance ~~not~~and ~~required~~replacement bycapital ~~accounting~~expenditures ~~principles~~and ~~generally~~one-off ~~accepted~~items. inMaintenance ~~the~~and ~~United~~replacement ~~States~~capital ~~and~~expenditures ~~should~~are ~~not~~those becapital ~~considered~~expenditures arequired ~~substitute~~to ~~for~~maintain ~~net~~over ~~income,~~the ~~cash~~long ~~flow~~term ~~from~~the operating ~~activities~~capacity ~~and~~of, ~~other operations~~ or ~~cash flow statement data prepared in accordance with accounting principles generally accepted in~~ the ~~United~~revenue ~~States~~generated orby, asNavios aPartners’ ~~measure~~capital ~~of profitability or liquidity~~assets.

~~Capital~~Operating ~~Expenditures~~Surplus is a quantitative measure used in the publicly-traded partnership investment community to assist in evaluating a partnership’s ability to make quarterly cash distributions. Operating Surplus is 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 or as a measure of profitability or liquidity.

~~Navios Partners finances its capital expenditures with cash flows from operations, equity offerings, proceeds from asset sales, long-term bank borrowings and other debt raisings.~~ Capital ~~expenditures for each of the three month periods ended March 31, 2024 and 2023 amounted to $139.1 million and $113.4 million, respectively.~~ Expenditures

~~Maintenance~~Navios ~~for~~Partners ~~our~~finances ~~vessels~~its ~~and~~capital ~~expenses~~expenditures ~~related~~with tocash ~~drydocking~~flows ~~expenses~~from ~~are reimbursed~~operations, atequity ~~cost~~offerings, byproceeds ~~Navios~~from ~~Partners~~asset ~~to Navios Shipmanagement Inc.~~sales, ~~(the~~long-term ~~“Manager”)~~bank borrowings and ~~Navios~~other ~~Tankers~~debt ~~Management Inc~~raisings. ~~(“Tankers~~Capital ~~Manager”~~expenditures ~~and~~for ~~together~~each ~~with~~of the ~~Manager~~six month periods ended June 30, ~~the~~2024 ~~“Managers”)~~and ~~under~~2023 ~~the~~amounted ~~Management~~to ~~Agreements~~$393. 8 million and $184.1 million, respectively.

Maintenance for our vessels and ~~Replacement~~expenses ~~Capital~~related ~~Expenditures~~to ~~Reserve~~drydocking expenses are reimbursed at cost by Navios Partners to the Manager under the Management Agreements.

~~The~~Maintenance ~~reserves for estimated maintenance~~ and ~~replacement~~Replacement ~~capital~~Capital ~~expenditures~~Expenditures for the three month period ended March 31, 2024 were $68.3 million. We estimate that our annual replacement reserve for the year ending December 31, 2024 will be approximately $265.7 million, for replacing our vessels at the end of their useful lives. The reserves for estimated maintenance and replacement capital expenditures for the three month period ended March 31, 2023 were $56.3 million. Reserve

The ~~amount~~reserves for estimated maintenance and replacement capital expenditures ~~attributable~~for tothe ~~future~~three ~~vessel~~and ~~replacement~~six ~~was~~month ~~based~~periods onended ~~the~~June ~~following~~30, ~~assumptions:~~2024 ~~(i) current~~were ~~market~~$66.1 ~~price~~million toand ~~purchase~~$134.4 amillion, ~~five-year-old~~respectively. ~~vessel~~We ofestimate ~~similar~~that ~~size~~our ~~and~~annual ~~specifications;~~replacement ~~(ii) a~~reserve ~~25-~~for the year ~~useful~~ending ~~life~~December ~~for~~31, ~~dry~~2024 ~~bulk~~will ~~and~~be ~~tanker~~approximately $267.4 million, for replacing our vessels ~~and~~at athe ~~30-year~~end of their useful ~~life~~lives. The reserves for ~~containerships;~~estimated maintenance and ~~(iii) a~~replacement ~~relative~~capital ~~net~~expenditures ~~investment~~for ~~rate~~the three and six month periods ended June 30, 2023 were $56.7 million and $113.0 million, respectively.

The amount for estimated ~~maintenance~~replacement capital expenditures attributable to future vessel ~~drydocking~~replacement ~~and special survey~~ was based on ~~certain~~the following assumptions ~~including~~: ~~the~~(i) ~~remaining~~current ~~useful~~market ~~life~~price ofto ~~the~~purchase ~~owned~~a ~~vessels~~five-year-old vessel of ~~our~~similar ~~fleet,~~size ~~market~~and ~~costs~~specifications; of(ii) ~~drydocking~~a 25-year useful life for dry bulk and ~~special~~tanker ~~survey~~vessels and a 30-year useful life for containerships; and (iii) a relative net investment rate.

~~Our~~The Board of Directors, with the approval of the Conflicts Committee, may determine that one or more of our assumptions should be revised, which could cause our Board of Directors to increase or decrease the amount offor estimated maintenance ~~and replacement~~ capital expenditures. ~~The~~attributable ~~actual~~to ~~cost~~future ofvessel ~~replacing~~drydocking ~~the~~and ~~vessels~~special insurvey ~~our~~was ~~fleet~~based ~~will depend~~ on acertain ~~number~~assumptions ~~of factors,~~ including ~~prevailing market conditions, charter hire rates and~~ the ~~availability~~remaining ~~and~~useful ~~cost~~life of ~~financing at~~ the ~~time~~owned ofvessels ~~replacement. We may elect to finance some or all~~ of our ~~maintenance~~fleet, ~~and~~market ~~replacement~~costs ~~capital expenditures through the issuance~~ of ~~additional~~drydocking ~~common~~and ~~units,~~special ~~which could~~survey beand ~~dilutive~~a torelative ~~existing~~net ~~unitholders.~~investment rate.

17 19

~~Table~~Our Board of ~~Contents~~Directors, with the approval of the Conflicts Committee, may determine that one or more of our assumptions should be revised, which could cause our Board of Directors to increase or decrease the amount of estimated maintenance and replacement capital expenditures. The actual cost of replacing the vessels in our fleet will depend on a number of factors, including prevailing market conditions, charter hire rates and the availability and cost of financing at the time of replacement. We may elect to finance some or all of our maintenance and replacement capital expenditures through the issuance of additional common units, which could be dilutive to existing unitholders.

Limitations on Cash Distributions and Our Ability to Change Our Cash Distribution Policy

There is no guarantee that unitholders will receive quarterly distributions from us on the common units on any quarter.

Our ability to make distributions to our unitholders depends on the performance of our subsidiaries and their ability to distribute funds to us. The ability of our subsidiaries to make distributions to us may be restricted by, among other things, the provisions of existing and future indebtedness, applicable partnership and limited liability company laws and other laws and regulations.

See Note 12 – Cash distributions and earnings per unit to the unaudited condensed consolidated financial statements included elsewhere in this report.

Quantitative and Qualitative Disclosures about Market Risks

Foreign Exchange Risk

Our functional and reporting currency is the U.S. dollar. We engage in worldwide commerce with a variety of entities. Although our operations may expose us to certain levels of foreign currency risk, our transactions are predominantly U.S. dollar denominated. Transactions in currencies other than U.S. dollars are translated at the exchange rate in effect at the date of each transaction. Differences in exchange rates during the period between the date a transaction denominated in a foreign currency is consummated and the date on which it is either settled or translated, are recognized.

Interest Rate Risk

Interest rates have increased significantly as central banks in Europe, United States and other developed countries ~~raise~~have raised interest rates in an effort to reduce the inflation effect. The ~~eventual implications of~~ tighter monetary policy, and ~~potentially~~ higher long-term interest rates ~~may~~result ~~drive~~in a higher cost of capital for our business.

Borrowings under certain of our credit facilities and financial liabilities bear interest at a rate based on a premium over Secured Overnight Financing Rate (“SOFR”). Therefore, we are exposed to the risk that our interest expense may increase if interest rates rise. For the ~~three~~six month periods ended ~~March 31~~June 30, 2024 and 2023, we paid interest on our outstanding debt at a weighted average interest rate of 7.1% and 7.02%, respectively. A 1% increase in SOFR would have increased our interest expense for the ~~three~~six month periods ended ~~March 31~~June 30, 2024 and 2023 by $36.3 4 million and $3.7 .3 million, respectively.

Concentration of Credit Risk

Financial instruments, which potentially subject us to significant concentrations of credit risk, consist principally of trade accounts receivable. We closely monitor our exposure to customers for credit risk. We have policies in place to ensure that we trade with customers with an appropriate credit history.

For each of the ~~three~~six month periods ended ~~March 31~~June 30, 2024 and 2023, no customer accounted for 10.0% or more of our total revenues.

If we lose a charter, we may be unable to re-deploy the related vessel on terms as favorable to us due to the long-term nature of most charters and the cyclical nature of the industry or we may be forced to charter the vessel on the spot market at then market rates which may be less favorable than the charter that has been terminated. If we are unable to re-deploy a vessel for which the charter has been terminated, we will not receive any revenues from that vessel, but we may be required to pay expenses necessary to maintain the vessel in proper operating condition. If we lose a vessel, any replacement or newbuilding would not generate revenues during its construction acquisition period, and we may be unable to charter any replacement vessel on terms as favorable to us as those of the terminated charter.

Even if we successfully charter our vessels in the future, our charterers may go bankrupt or fail to perform their obligations under the charter agreements, they may delay payments or suspend payments altogether, they may terminate the charter agreements prior to the agreed-upon expiration date or they may attempt to renegotiate the terms of the charters. The permanent loss of a customer, time charter or vessel, or a decline in payments under our charters, could have a material adverse effect on our business, results of operations and financial condition and our ability to make cash distributions in the event we are unable to replace such customer, time charter or vessel. For further details, please read “Risk Factors” in our Annual Report. 20

18Even if we successfully charter our vessels in the future, our charterers may go bankrupt or fail to perform their obligations under the charter agreements, they may delay payments or suspend payments altogether, they may terminate the charter agreements prior to the agreed-upon expiration date or they may attempt to renegotiate the terms of the charters. The permanent loss of a customer, time charter or vessel, or a decline in payments under our charters, could have a material adverse effect on our business, results of operations and financial condition and our ability to make cash distributions in the event we are unable to replace such customer, time charter or vessel. For further details, please read “Risk Factors” in our Annual Report.

~~Table~~Recent ofAccounting ~~Contents~~Pronouncements

~~Recent~~The ~~Accounting~~Company’s ~~Pronouncements~~recent accounting pronouncements are included in the accompanying notes to the unaudited condensed consolidated financial statements included elsewhere in this report.

~~The~~Critical ~~Company’s~~Accounting ~~recent accounting pronouncements are included in the accompanying notes to the unaudited condensed consolidated financial statements included elsewhere in this report.~~ Policies

~~Critical~~Our ~~Accounting~~financial ~~Policies~~statements have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates in the application of our accounting policies based on the best assumptions, judgments and opinions of management. Actual results may differ from these estimates under different assumptions or conditions.

~~Our~~Critical ~~financial~~accounting ~~statements~~policies ~~have~~are ~~been~~those ~~prepared~~that reflect significant judgments or uncertainties, and potentially result in ~~accordance~~materially ~~with~~different ~~U.S.~~results ~~GAAP.~~under ~~The~~different ~~preparation~~assumptions ofand ~~these~~conditions. ~~financial~~All ~~statements~~significant ~~requires~~accounting uspolicies toare ~~make~~as ~~estimates~~described in ~~the application~~Note 2 – Summary of ~~our~~significant accounting policies ~~based~~to onthe notes to the ~~best~~consolidated ~~assumptions,~~financial ~~judgments~~statements included in the Company’s Annual Report and ~~opinions~~in Note 2 – Summary of ~~management.~~significant ~~Actual~~accounting ~~results~~policies ~~may~~included ~~differ~~in ~~from~~the ~~these~~accompanying ~~estimates~~notes ~~under~~to ~~different~~the ~~assumptions~~unaudited orcondensed ~~conditions.~~consolidated financial statements included elsewhere in this report.

~~Critical~~Exhibit accounting policies are those that reflect significant judgments or uncertainties, and potentially result in materially different results under different assumptions and conditions. All significant accounting policies are as described in Note 2-Summary of significant accounting policies to the notes to the consolidated financial statements included in the Company’s Annual Report and in Note 2-Summary of significant accounting policies included in the accompanying notes to the unaudited condensed consolidated financial statements included elsewhere in this report. List

Exhibit List


Exhibit No.		Description

99.1*		Master Management Agreement, between Navios Maritime Partners L.P. and Navios Shipmanagement Inc.
99.2*		Administrative Services Agreement, dated August 16, 2024, between Navios Maritime Partners L.P. and Navios Shipmanagement Inc.
99.3*		Facility Agreement, dated June 26, 2024, among Arkoi Shipping Corporation, Joy Shipping Corporation., Avery Shipping Company, Astypalaia Shipping Corporation, Kinaros Shipping Corporation, Venetiko Shipping Corporation as borrowers and ABN AMRO BANK N.V. as arranger, facility and security agent.

~~Exhibit~~* ~~No.~~Filed herewith

99.1 Amendment No. 12 dated February 20, 2024, to the Management Agreement dated November 16, 2007, between Navios Maritime Partners L.P. and Navios Shipmanagement Inc.*21

* Filed herewithINDEX


NAVIOS MARITIME PARTNERS L.P.		Page
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS AT JUNE 30, 2024 AND DECEMBER 31, 2023		F-2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL FOR THE THREE AND SIX MONTH PERIODS ENDED JUNE 30, 2024 AND 2023		F-6
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)		F-7

~~Table of Contents~~F-1

~~INDEX~~NAVIOS MARITIME PARTNERS L.P.

NAVIOS MARITIME PARTNERS L.P.	Page
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS AS AT MARCH 31, 2024 AND DECEMBER 31, 2023		F-2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2024 AND 2023		F-3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2024 AND 2023		F-4
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL FOR THE THREE MONTH PERIODS ENDED MARCH 31, 2024 AND 2023		F-6
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)		F-7

CONDENSED CONSOLIDATED BALANCE SHEETS

~~F-1~~(Expressed in thousands of U.S. Dollars except unit data)


	Notes	June 30, 2024 (unaudited)		December 31, 2023
ASSETS
Current assets
Cash and cash equivalents	3	$	271,989	$	240,378
Restricted cash	3		7,855		8,797
Other investments	3		38,543		47,000
Accounts receivable, net			40,889		42,237
Prepaid expenses and other current assets	11		59,710		61,336
Amounts due from related parties	11		29,784		—
Total current assets			448,770		399,748
Vessels, net	4		3,860,441		3,734,671
Deposits for vessels acquisitions	10		513,262		434,134
Other long-term assets	10		66,083		62,111
Deferred drydock and special survey costs, net	11		153,279		145,932
Amounts due from related parties	11		—		39,570
Intangible assets	5		51,352		60,431
Operating lease assets	13		255,847		270,969
Total non-current assets			4,900,264		4,747,818
Total assets		$	5,349,034	$	5,147,566
LIABILITIES AND PARTNERS' CAPITAL
Current liabilities
Accounts payable		$	18,363	$	25,488
Accrued expenses			22,657		23,608
Deferred revenue			54,734		63,306
Operating lease liabilities, current portion	13		24,925		30,136
Amounts due to related parties	11		—		32,026
Current portion of financial liabilities, net	6		207,302		138,696
Current portion of long-term debt, net	6		322,349		146,340
Total current liabilities			650,330		459,600
Operating lease liabilities, net	13		228,097		240,602
Unfavorable lease terms	5		21,677		27,984
Long-term financial liabilities, net	6		753,531		824,646
Long-term debt, net	6		684,032		751,781
Deferred revenue			61,646		63,915
Other long-term liabilities			12,519		8,586
Total non-current liabilities			1,761,502		1,917,514
Total liabilities		$	2,411,832	$	2,377,114
Commitments and contingencies	10		—		—
Partners' capital:
Common Unitholders (30,083,850 and 30,184,388 common units outstanding as of June 30, 2024 and December 31, 2023, respectively)	1, 8		2,887,751		2,724,436
General Partner (622,296 general partnership units outstanding at each of June 30, 2024 and December 31, 2023)	1		49,451		46,016
Total partners’ capital			2,937,202		2,770,452
Total liabilities and partners’ capital		$	5,349,034	$	5,147,566

~~NAVIOS~~See ~~MARITIME~~unaudited ~~PARTNERS~~notes ~~L.P.~~to the condensed consolidated financial statements

~~CONDENSED CONSOLIDATED BALANCE SHEETS~~ F-2

~~(Expressed~~NAVIOS inMARITIME ~~thousands~~PARTNERS ~~of U~~L.SP. ~~Dollars except unit data)~~

	Notes		March 31, 2024(unaudited)		December 31,2023
ASSETS
Current assets
Cash and cash equivalents		3	$	223,957	$	240,378
Restricted cash		3		8,873		8,797
Accounts receivable, net				43,148		42,237
Other investments		3		85,543		47,000
Prepaid expenses and other current assets				62,254		61,336
Amounts due from related parties		11		19,557		—
Total current assets				443,332		399,748
Vessels, net		4		3,746,508		3,734,671
Deposits for vessels acquisitions		10		500,736		434,134
Other long-term assets		6, 10		64,153		62,111
Deferred drydock and special survey costs, net		11		149,334		145,932
Amounts due from related parties		11		—		39,570
Intangible assets		5		55,892		60,431
Operating lease assets		13		264,255		270,969
Total non-current assets				4,780,878		4,747,818
Total assets			$	5,224,210	$	5,147,566
LIABILITIES AND PARTNERS’ CAPITAL
Current liabilities
Accounts payable			$	16,889	$	25,488
Accrued expenses				23,818		23,608
Deferred revenue				59,109		63,306
Operating lease liabilities, current portion		13		28,818		30,136
Amounts due to related parties		11		—		32,026
Current portion of financial liabilities, net		6		217,031		138,696
Current portion of long-term debt, net		6		151,936		146,340
Total current liabilities				497,601		459,600
Operating lease liabilities, net		13		234,416		240,602
Unfavorable lease terms		5		24,848		27,984
Long-term financial liabilities, net		6		736,272		824,646
Long-term debt, net		6		814,226		751,781
Deferred revenue				64,327		63,915
Other long-term liabilities				10,247		8,586
Total non-current liabilities				1,884,336		1,917,514
Total liabilities			$	2,381,937	$	2,377,114
Commitments and contingencies		10		—		—
Partners’ capital:
Common Unitholders (30,184,388 common units issued and outstanding at each of March 31, 2024 and December 31, 2023)		1, 8		2,794,821		2,724,436
General Partner (622,296 general partnership units issued and outstanding at each of March 31, 2024 and December 31, 2023)		1, 8		47,452		46,016
Total partners’ capital				2,842,273		2,770,452
Total liabilities and partners’ capital			$	5,224,210	$	5,147,566

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

~~See~~(Expressed ~~unaudited~~in ~~notes~~thousands toof ~~the~~U.S. ~~condensed~~Dollars ~~consolidated~~except ~~financial~~unit ~~statements~~and per unit data)

F-2

     
    Three Month Period Ended June 30, 2024

    Three Month Period Ended June 30, 2023

    Six Month Period Ended June 30, 2024

    Six Month Period Ended June 30, 2023

     
    Notes

    (unaudited)

    (unaudited)

    (unaudited)

    (unaudited)

Time charter and voyage revenues

Filing Compare · Navios Maritime Partners L.P.