Navios Group 2013 Investor Day

Navios Group

2013 Investor Day

February 19, 2013

This presentation contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and Navios Holdings’ growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenues and time charters. Although Navios Holdings 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 known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. 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 changes in the demand for dry bulk vessels, competitive factors in the market in which Navios Holdings operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings’ filings with the Securities and Exchange Commission. Navios Holdings 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 Holdings’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. The Company makes no prediction or statement about the performance of its common stock. For the selected financial data presented herein, Navios Holdings compiled consolidated statements of operation and selected balance sheets for the relevant periods.

EBITDA represents net income plus interest and finance costs plus depreciation and amortization and income taxes, if any, unless otherwise stated. EBITDA is a “non-GAAP financial measure” 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. EBITDA is presented to provide additional information with respect to the Company's ability to satisfy its obligations including debt service, capital expenditures, working capital requirements and payment of dividends. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service requirements, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation.

Navios South American Logistics Inc.

Logistics

• 9.250% Unsecured Bonds Due

2019

CUSIP 63938NAB0 Navios Maritime Acquisition Corp.

Tanker

• NYSE: NNA

• 8.625% Secured Bonds Due 2017

CUSIP 63938MAB2

Navios Group: Investment Opportunities

Navios Maritime Holdings Inc.

Dry Bulk

• NYSE: NM

• 8.875% Secured Bonds Due 2017

CUSIP 639365AD7

• 8.125% Unsecured Bonds Due 2019

CUSIP 639365AF2

Navios Maritime Partners L.P.

Dry Bulk

• NYSE: NMM • 12.64% Yield

Angeliki Frangou Chairman & CEO

George Achniotis CFO Navios Holdings

Ted C. Petrone President

• 20 years experience in the shipping

industry

• Chairman and CEO of Navios since

August 2005

• Previously founded two private

shipping companies

• CFO since April 2007

• PwC partner in charge of shipping

practice in Greece

• UK Chartered Accountant

• 19 years experience in the accounting

profession

• Joined Navios in 2006

• Previously, SVP responsible for the commercial activities and the FFA trading desk

• Over 35 years of experience in the

shipping industry

• Joined Navios in 1980

Stratos Desypris

CFO Navios Maritime Partners

Yannis Karyotis CFO Navios Logistics

Leonidas Korres

CFO Navios Maritime Acquisition

• Chief Financial Controller for Navios Maritime Holdings, since 2006

• 9 years of experience in the accounting profession

• Joined Navios in 2006

• Project leader at The Boston

Consulting Group for five years

• MBA from INSEAD and MSc in

Finance and Economics from London School of Economics

• Joined Navios in 2011

• Served as Special Secretary for Public

Private Partnerships in the Ministry of Economy & Finance of the Hellenic Republic

• Former Senior Financial Advisor for

KPMG Corporate Finance

• Joined Navios in 2010

Presenting Today

4

Navios Maritime Holdings

Price

(1)

_Yield

(1)

_Amount

NYSE: NM

$3.84

6.25%

8.875% Secured Bonds Due 2017

CUSIP 639365AD7

$100.75

8.67%

$488M

8.125% Unsecured Bonds Due 2019

CUSIP 639365AF2

$86.75

11.22%

$350M

Creating Shareholder Value: Navios Group

Navios Maritime Acquisition Corp. (NYSE: NNA)

• Navios entity in tanker sector

• Fleet of 29 vessels: 20 product tankers, 7 VLCC, 2 chemical tankers

• Acquired product tankers for historically low values

• Developing leading company in tanker sector

• FY 2012 EBITDA: $97.5 million

• Market value of NM ownership: $83.7 million

• Annual dividend: $0.20; 6.2% yield

Navios Maritime Holdings Inc.

(NYSE: NM)

• Controls 48-vessel drybulk fleet; 30 owned and 18 long term chartered-in vessels

• Flexible business model; Opportunity from market intelligence

• Stable cash flow from charter-out contracts >12 months and Short-Term Charters, COAs and FFAs

• FY 2012 EBITDA: $390.0 million

• NM: Share price: $3.84

• Annual dividend: $0.24; 6.3% yield

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

• Focused on long-term charter business in the drybulk sector

• MLP with high dividend payout model

• Fleet of 21 dry bulk vessels of 2.3 M DWT

• NM receives incentive distributions through the wholly owned GP

• FY 2012 EBITDA: $177.4 million

• Market value of NM ownership: $217.8 million

• Annual dividend: $1.77; 12.65% yield

Navios South American Logistics • Integrated wet and dry logistics operator in

Hidrovia Region

• Core operations:

- Port Terminal facilities with storage

- Barging (wet and dry)

- Cabotage business

•Expansion into mineral commodities

•FY 2012 EBITDA: $48.1 million 23.4% NM Ownership 54.0% NM Economic Interest 63.8% NM Ownership 5 $2.09/ share $0.81/ share

■ Conservative Balance Sheet

⎯ 42% leverage ratio

⎯ $352.6 million of liquidity

⎯ $282.6 million cash

■ Substantial Reduction in Cash Breakeven

⎯ 16% since year end 2012 over 2010

⎯ 8% since year end 2012 over 2011

■ Substantial Increase in Open Days as Cycle is Turning

⎯ 46.8% fixed for 2013

⎯ 8.6% fixed for 2014

■ Reduction of G&A by 12% ($6.0 million)

− Due to the restructuring of the credit default insurance

■ Continued Access to Capital

⎯ Capital Markets - $88 Million Add-on 8 7/8% Ship Mortgage Notes Due 2017

⎯ Bank financing - Navios Serenity / refinancing the existing debt of the Navios Astra

■ No Near-Term Capex or Debt Maturity Requirement

⎯ No unfunded acquisition commitments

⎯ Next material debt maturity is 2017

■ Continued Development of Navios Partners, Navios Acquisition and Navios Logistics

2012 Key Developments

7



Navios Holdings restructured its credit default insurance, receiving $242.1 million of value:

− $175.4 million lump sum cash payment attributable to defaulted charterers and excess cash

compensation

− $ 25.5 million net present value

(1)

_{benefit of lump sum cash payment}

− $ 41.2 million in revenue covered by restructured credit default insurance

• Insurance from AA rated insurance company in the EU on a pooled basis with NMM

• Revenue from investment grade counter parties



Navios Holdings provides $20.0 million in supplemental coverage to NMM

Note: All amounts are as of November 15, 2012; Revenue is presented net of applicable commissions and mitigation rates (1) NPV analysis assumes a discount rate of 8.0% and a seven-year period

(2) The maximum cash recovery under the pool insurance arrangement is $120.0 million

(3) Assumed mitigation rates per day of $15,000 for Capesize, $10,000 for Panamax, and $8,000 for Ultra Handymax vessels

$242.1 million aggregate benefit net of the $20 million supplemental coverage results in

107% insurance coverage

(2)

_{(old insurance policy coverage = $207.4 million)}

Significant potential upside; For every $1,000 above mitigation rates

(3)

_{= $3.3 million}

8 8 8 ($ million) December 31, 2012 Cash (1) _282.6 Debt (2) _1,358.2 Shareholders' Equity _1,196.9 Capitalization (3) _2,555.1

Net Debt / Capitalization 42%

Navios Holdings’ Liquidity Position

Revolving Credit Facilities 74.4

Drawn Portion (4) _(4.4)

Undrawn portion 70.0

Cash (1) _282.6

Total Navios Holdings’ Liquidity 352.6

(1) Includes $24.7 million of restricted cash

(2) Includes $200.6 million debt of Navios Logistics (3) Excludes noncontrolling interest

(4) Drawing under facilities as of December 31, 2012

(5) Extending maturity of $28.5 million bank debt to 2017 in July 2012

36 509 635 0 100 200 300 400 500 600 700 2013 2014 2015 2016 2017 2018 2019+

Debt Maturity

($ ‘m) (5)

Strong Liquidity Position

9 $6,863 $1,356 $5,381 $25,281 $13,411 $31,307 $25,595

• Breakeven includes operating costs of owned fleet (including drydock), charter-in expenses for charter-in fleet, general and administrative expenses including credit default insurance expenses, interest expense and capital repayments (excludes COAs, short term charters and FFAs) • Total Available Days of Core Fleet: 15,025 for 2013

• Data Before Insurance Restructuring are as of November 15, 2012 (1) All 2013 capital repayments are prepaid within Q1 2013

2014 8.6% Fixed

2013 46.8% Fixed

Average Contracted Daily Charter-Out Rate

Opex (incl. drydocking) + Charter-in Costs General & Administrative Expenses Interest Expense

Cost

Revenue

$13,600

2013E 2013 E 2014 E 2013 48.3% Fixed 2014 24.1% Fixed

Before Insurance Restructuring After Insurance Restructuring

Cash Breakeven

Capital Repayments (1) Fully Loaded Cost Fully Loaded Cost

17 Capesize 10 Panamax 19 Ultra-Handymax 2 Handysize 10 Vessels 1.77 million DWT 5 Vessels 0.39 million DWT 14 Vessels 0.75 million DWT 1 Vessel 0.04 million DWT 30 Owned 2.95 million DWT 7 Vessels 1.27 million DWT 5 Vessels 0.47 million DWT 5 Vessels 0.34 million DWT 1 Vessel 0.04 million DWT 18LT Charter-In 2.12 million DWT (2) 4 Vessels 0.72 million DWT 2 Vessels 0.16 million DWT 4 Vessels 0.24 million DWT 1 Vessel 0.04 million DWT 11 Purchase Options 1.16 million DWT

Charter-in strategy allows fleet expansion with zero capital outlay

& future ownership via purchase options

Navios Group

(3)

_{controls 98 vessels}

69 dry bulk

(7.3 million DWT) and 29 tankers (3.3 million DWT)

(1) Excludes Navios Logistics’ fleet

(2) Includes 11 vessels that have purchase options

(3) Navios Group is composed of Navios Holdings (NM), Navios Partners (NMM) and Navios Acquisition (NNA). Excludes Navios Logistics’ fleet

Navios Holdings Controls 48

(1)

_{Vessels (5.1 million DWT)}

44 Vessels Currently Operating (4.7 million DWT)

Average Age: 6.0 years

10

11 $25,281 $31,307 $13,411 $25,595 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 2013 2014

Average Daily Charter-out Rate

After Restructuring

Long-Term Contracted Revenue

Contracted Revenue

(1)

After Restructured Credit Default Insurance

2012 $266.6 million

Cash Settlement $175.4 million

2013 $93.2 million

2014 $32.7 million

(1) Excludes CoAs, Kleimar controlled fleet, Navios Logistics’ Fleet

48.3% 24.1% 46.8% 8.6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2013 2014 Before Restructuring

Before Restructuring After Restructuring

Contracted Days

$13,927 $25,281 $13,411 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 2013

Efficient, Low Cost Operator

Favorable Long-Term Charter-in Contracts

(2)

LTM Average Daily Operating Costs / Vessel

(including dry-docking)

 Established reputation as strong operating history allow for favorable charter contract terms and rates  Strong relationships allow for attractive charter-in rates

with no capital outlay, low breakeven  Navios insured for entirety of contracted

chartered-out/charter-in spread  Opex is approximately 24% less than industry average due

to a modern, efficient fleet with strong in-house technical management

 Navios Holdings benefits from technical management services provided to affiliates

$4,335 $5,672 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000

Navios Average per Vessel

Industry Average per Vessel

$/

D

ay

(1) Source: Drewry Shipping Consultants October 2012 (2) Excludes Kleimar controlled vessels

(1)

$

/Da

y

12

Av. Charter-in Av. Charter-out before restr. Av. Charter-out after restr.

Dry Bulk Industry

14

Baltic Exchange Dry Index* 2002 – 2013

BDI October 2008 to date BDI 2002 to date

15

GDP Growth Driven by Emerging Economies

Source: IMF January 2013

5.5 _5.9 3.5 4.1 1.4 2.2 (2.0) 0.0 2.0 4.0 6.0 8.0 10.0 12.0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Emerging and developing economies World Advanced economies

IMF Latest Revisions of GDP Growth (%) January 2013 October 2012

World GDP 2013 ▼ 3.5 3.6 2014 4.1 4.1 Advanced economies GDP 2013 ▼ 1.4 1.5 2014 ▼ 2.2 2.3 Emerging markets GDP 2013 ▼ 5.5 5.6 2014 5.9 5.9 %

16 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 1980 1985 1990 1995 2000 2005 2010 T ra d e ( M ill io n T o n s)

Upside:

India

Source: Drewry Shipping Consultants Ltd.

World Dry Bulk Trade 1980 - 2013

2.8%

5.4%

China admitted

to the WTO

Berlin wall falls

1.1%

Fo

17

Worldwide Urbanization and Rising Incomes

Global urban populations are expected to increase substantially by 2050 along with

incomes per capita leading to increased metal demand.

Source: Rio Tinto and UN

Growth in incomes and urban populations support increased metal demand

which will increase seaborne movements of raw materials.

42% 51% 67% 0 1 2 3 4 5 6 7 8 9 10 B il li ons

World urbanization will continue to grow: 6.3B urban residents by 2050

18

Million tons

Iron Ore

Steel Production Domestic Production Imports

2006 580 YoY% 326 YoY% 421 YoY%

2007 707 22% 384 18% 488 16% 2008 785 11% 444 16% 500 2% 2009 873 11% 630 42% 567 13% 2010 1,065 22% 619 -2% 626 10% 2011 1,315 24% 687 11% 683 9% 2012 1,329 1% 745 9% 717 5%

2013 through Jan 72E 1%E 66 10% 60E 5%E

2013E 1,295E -3%E 795E 7%E 744E 4%E

Sources: UN, World Steel Association, World Bank,

National Bureau of Statistics of China/Mysteel, Credit Suisse, SSY

Chinese Urbanization & Steel Production

26% 49% 77% 0 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 B il li ons

China's urbanization will continue to grow

Urban Rural -200 -100 0 100 200 300 400 2013f 2014f 2015f 2016f M T/yr

Change in Iron Ore Supply

cumulative change from 2012 levels

19 6.4% 6.2%

0.0%

10.0%

20.0%

Total Dry Bulk Fleet

Dry Bulk Industry Age Profile

(2)

(% DWT)

20+ Years 25+ Years

Aging Fleet + Restricted Credit + High Scrap Price =

Accelerated Scrapping(1)

• 2009 scrapping ≈ 2.4% of fleet DWT (10.0 million DWT) • 2010 scrapping ≈ 1.3% of fleet DWT (5.8 million DWT) • 2011 scrapping ≈ 4.2% of fleet DWT (22.3 million DWT) • 2012 scrapping ≈ 5.5% of fleet DWT (33.7 million DWT) • 2013 scrapping ≈ 0.54% of fleet DWT (3.7 million DWT)

- Projected 2013 scrapping: 29 million DWT or 4.3%

• 2009 total dry bulk fleet ≈ 458.6 million DWT - Non delivery ≈ 40% • 2010 total dry bulk fleet ≈ 536.6 million DWT - Non delivery ≈ 38% • 2011 total dry bulk fleet ≈ 615.6 million DWT - Non delivery ≈ 30% • 2012 total dry bulk fleet ≈ 679.0 million DWT - Non delivery ≈ 30% • Net fleet growth for 2009 = 9.8%

• Net fleet growth for 2010 = 16.5% • Net fleet growth for 2011 = 14.4% • Net fleet growth for 2012p = 10.3%

(1) Source: Clarksons

(2) Source: SSY Dry Bulk Forecaster, February 2013

Bulk Carrier Demolition

(1)

Year Total Demolition (m dwt) Demolition as % of Fleet 1998 12.2 4.60% 1999 9.1 3.40% 2000 4.5 1.60% 2001 8.1 2.80% 2002 6.0 2.00% 2003 4.1 1.40% 2004 0.3 0.10% 2005 0.9 0.30% 2006 1.8 0.50% 2007 0.4 0.10% 2008 5.0 1.20% 2009 10.0 2.37% 2010 5.8 1.26% 2011 22.3 4.17% 2012 provisional 33.7 5.48% 2013 Through 02/15/13 3.7 0.54% 2013 Projected 29.0 4.3%

Scrapping Dynamics

12.6% (85.7m dwt)

20 95.9 97.8 138.9 101.2 50.5 30.9 0 20 40 60 80 100 120 140 As of Jan 1, 2012 As of Jan 1, 2013 Source: Clarksons

2013 • 17.4 million DWT projected; 8.1 million actual DWT delivered (54% non-delivery by DWT-preliminary) _{• 95 actual deliveries, 239 newbuilds projected (60% non-delivery by # of vessels -preliminary)}

2012 • 138.9 million DWT projected; 98.2 million actual DWT delivered (29% non-delivery by DWT) _{• 1,192 actual deliveries, 1,665 newbuilds projected (28% non-delivery by # of vessels)}

2011 • 137.3 million DWT projected; 95.9 million actual DWT delivered (30% non-delivery by DWT) _{• 1,147 actual deliveries, 1,691 newbuilds projected (32% non-delivery by # of vessels)}

2010 • 125.6 million DWT projected; 77.9 million actual DWT delivered (38% non-delivery by DWT) _{• 957 actual deliveries, 1,528 newbuilds projected (38% non-delivery by # of vessels)} 2009 • 71.3 million DWT projected, 43.1 million actual DWT delivered (40% non-delivery by DWT)

• 546 actual deliveries, 962 newbuilds projected (43% non-delivery by # of vessels)

Orderbook by year of delivery

M il li on D WT 2011 2012 2013 2012 2013 2014 Before non-delivery Actual non-delivery 41.4mdwt

Dry Bulk Orderbook

Before non-delivery Actual non-delivery 41.1mdwt

•

2013 projected deliveries

(before non-delivery) is

currently 101.2 million

DWT

•

Based on the last two

years trend, estimated

deliveries for 2013 are

approximately 70 million

DWT

21 -1.4% -0.8% 1.4% _1.0% 1.2% 1.5% -0.2% 3.1% -5.3% -4.0% -6.6% -4.6% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E

Dry Bulk Demand Growth (%) – Net Fleet Growth (%)

0.4%

-1.3%

Seaborne Dry Bulk Supply/Demand Balance

0 2000 4000 6000 8000 10000 12000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Baltic Dry Index

Source: SSY , Baltic Exchange, 2013 Projections SSY, Drewry

2013 Projection

Range

Earnings Highlights

($ ‘000 except per share data) Three months Ended December 31, 2012 Three months Ended December 31, 2011 Y-O-Y Variance Year Ended December 31, 2012 Year Ended December 31, 2011 (5) Y-O-Y Variance Revenue 128,457 168,420 (24%) 616,494 664,225 (7%) EBITDA 205,562 (1) _63,914 (2) _{222% 389,986} (3) _245,889 (4) _59% Net Income 146,614 (1) _11,816 (2) _{1,141% 165,988} (3) _42,267 (4) _293% Basic EPS 1.44 (1) _0.11 (2) _{1,209% 1.62} (3) _0.40 (4) _305%

(1) EBITDA for the three months ended December 31, 2012 is positively affected by a $161.2 million gain from defaulted charters’ compensation and related accounts, net. Net Income and Basic EPS for the three months ended December 31, 2012 are affected by the item described above and a $4.1 million accelerated amortization of intangibles.

(2) EBITDA, Net Income and Basic EPS for the three months ended December 31, 2011, include $1.7 million accounting loss related to the settlement in shares of part of the outstanding receivables from Korea Line Corporation.

(3) EBITDA for the year ended December 31, 2012 is affected by (i) a $161.2 million gain from defaulted charters’ compensation and related accounts, net; and (ii) a $0.3 million gain on the sale of the Navios Buena Ventura to Navios Partners. Net Income and Basic EPS for the year ended December 31, 2012 are affected by the items described above and a $4.1 million accelerated amortization of intangibles.

(4) EBITDA, Net income and Basic EPS for the year ended December 31, 2011, are affected by (i) a $21.2 million of expenses relating to the bond extinguishment in January 2011, (ii) a $35.3 million loss on deconsolidation of NNA, (iii) a $38.8 million gain on sale of Navios Luz and Navios Orbiter to Navios Partners and (iv) a $1.7 million accounting loss related to the settlement in shares of part of the outstanding receivables from Korea Line Corporation.

(5) The effect of NNA is excluded.

22

NM Strong Balance Sheet

Selected Balance Sheet Data

(in $'000)

December 31, 2012 December 31, 2011

Cash & cash equivalents (incl. restricted cash) 282,572 177,495

Other current assets 185,365 193,479

Deposit for vessel acquisitions - 63,814

Vessels, port terminal and other fixed assets, net 1,746,493 1,767,946

Total Assets 2,929,335 2,913,824

Current portion of long term debt 33,095 70,093

Other current liabilities 153,651 181,910

Senior notes, net of discount 1,034,141 945,538

Long term debt, net of current portion 290,976 437,926

Stockholders Equity (1) _{1,196,879 1,059,106}

Book Capitalization (1) _{2,555,091 2,512,663}

Net Debt / Book Capitalization 42% 51%

(1) Excludes noncontrolling interest.

Returning Capital to Shareholders

Dividend Policy:

Q4 2012 NM Distribution: $0.06 per share

Record Date:

March 20, 2013

Payment Date:

March 27, 2013

Shares Outstanding as of Q4:

103,255,409

Annual run rate:

$24.8 million

Dividend Yield:

6.3%

(1)

Dividends received from public subsidiaries in 2012: $33.8 million

24

NM Summary

Large, Modern Fleet Provides Scale in a Fragmented Industry

• 48 controlled vessels; 30 owned / 18 chartered-in

• Modern high-quality fleet with an average age of 6.0 years (vs. 9.8 year average for industry)

• Diverse portfolio of Capesize, Panamax, Ultra-Handymax and Handysize vessels

Positioned to Capture Market Recovery

• Substantial increase in open days as cycle is turning • 46.8% (1) _{of revenue days in 2013 - $93.2 million}

• 8.6% (1) _{of revenue days in 2014 - $32.7 million}

Low Cash Flow Breakeven • Operating costs lower than average due to efficient in-house operations

• Favorable long-term charter-in rates

• Capex-lite charter-in strategy with flexible, discretionary options to purchase

Strong Brand with Established Track Record in the Drybulk Industry

• 55+ years of operating history

• Strategic relationships with shipyards, commercial banks and other industry players • Contracts with reputable creditworthy counterparties

Proven Market Access • Approx. $1.3 billion of debt and equity issued since September 2008

• $400 million senior secured notes issued in November 2009 • $350 million senior unsecured notes issued in January 2011 • $88 million add-on senior secured notes issued in July 2012

Favorable Long-Term Industry Dynamics

• Strong emerging market demand, aging dry bulk fleet, increased scrapping activity, and slippage of new buildings

Seasoned Management Team • Average industry experience of 20+ years per person Multiple Avenues of Growth • Navios Maritime Partners

• Navios South American Logistics • Navios Maritime Acquisition • Navios Holdings core activities

(1) Excludes Kleimar vessels 25

Long-term contracts insured by AA rated Insurance

Navios South American Logistics

Price

(1)

_Yield

(1)

_Amount

9.250% Unsecured Bonds Due 2019

CUSIP 63938NAB0

$102.25 8.77%

$200M

(1) As of market close 2/15/2013

27

Cabotage Business

•

Refined product transportation along the Argentinean coast

•

Six ocean going product

tankers and two self-propelled barges

•

Strategy to secure cash flows with long term contracts

•

Awarded Brazilian Cabotage

contracts for six new building vessels

Barge Business

•

289 barges and pushboats transporting dry and liquid cargoes across the river system

–

Pushboats

–

Dry barges

–

Oil barges

–

LPG barges

•

1 floating dry dock

36.2% Ownership 63.8% Ownership

Peers Business Inc.

(Lopez Family)

Navios Maritime Holdings Inc.

NYSE: NM

Navios South American Logistics Inc.

(Marshall Islands)

Port Terminal Operations

Storage and Transfer

•

Bulk Terminal – Nueva

Palmira – Uruguay (tax free zone) with 460,000 mt dry storage capacity

•

Fuel Terminal – San Antonio Port – Paraguay with 45,700 m3 _{storage capacity}

Navios Logistics Highlights

28

Leading Logistics Provider in South

America

 Largest independent dry terminal in Hidrovia

 One of the largest independent liquid terminals in Paraguay

 One of the largest, most versatile barge river fleets serving a diverse set of industries  Largest Argentinean product cabotage fleet with an average age of 4 years

Multiple Avenues of Growth

 Opportunities to invest in new port infrastructure

 Increasing minerals and grain production and fuel demand create need for new convoys  Opportunity to expand in Brazilian cabotage

Favorable Market Fundamental

 Robust growth in exports of grain and mineral commodities

 Hidrovia system and coastal cabotage are critical infrastructure for region

Scale and Strong Asset Base Provide Operating

Efficiency

 Economies of scale provide low costs per ton transported

 Integrated terminal, barge and cabotage network offers substantial operating leverage

Strong Counterparties

 Diverse group of large, high-quality counterparties

 Exposure to ADM, Bunge, Cargill, Dreyfus, Petrobras, Petropar, Vale, Vitol among others

Focus on Contracted Cash Flow

 Strategic positioning with fixed rate contracts and CoA’s with minimum volume guarantees  Long-term relationships with high contract renewal rates

Seasoned Management Team with Strong Track Record and Established

Brand

 Strategic relationships

 Experienced management team  Long operating history in region

29

Port Terminals Barge Business Cabotage Business

Asset Base

 Bulk transfer and storage port terminal in Nueva Palmira, Uruguay

 Liquid port in San Antonio, Paraguay

 223 dry barges  39 tank barges (1)

 22 pushboats

 2 small inland oil tankers  3 LPG barges

 1 floating dry dock

 6 Product tankers (8,974 – 17,508 dwt)  2 self-propelled barges

Commodities Transported or Stored

 Dry cargo (cereals, soybeans, iron ore, etc)

 Liquid cargo (primarily diesel fuel and naphtha)

 Dry cargo  Liquid cargo

 Liquefied Petroleum Gas (LPG)

 Refined oil products

Typical Customer Contracts

 Long-term storage and transshipment contracts

 Time charters and CoAs (1-5 years)

 Spot market contracts

 Time charters

(2-3 years average duration)  Spot market contracts

Geographic Region

 Strategic locations along the Hidrovia river system

 Hidrovia river system  Argentinean coastal trade  Opportunity to expand into

Brazilian cabotage market

(1) Including two tank barges under construction to be delivered gradually until June 30, 2013

• Runs over 4,500 kilometers across the agricultural heartland of South America

– Comparable in length to the Mississippi system

Hidrovia Region

Mississippi Region

South America

Number of barges: ~ 1,700

Number of barges: ~ 27,000

Significant Capacity for Growth

Hidrovia: Agricultural Heartland of South America

30

31

One Barge:

1,500 Ton 52,500 Bushels 453,600 Gallons

One 15 Barge Convoy:

22,500 Ton 787,500 Bushels 6,804,000 Gallons

Jumbo Hopper Car:

112 Ton 4,000 Bushels 33,870 Gallons

100 Car Train Unit:

11,200 Ton 400,000 Bushels 3,870,000 Gallons Large Semi: 26 Ton 910 Bushels 7,865 Gallons

Equivalent Units

One Barge

=

=

13.4 Jumbo Hopper Cars

58 Large Semis (Trucks)

=

=

One 15 Barge Convoy

2.0 100 Car-unit Train

870 Large Semis (Trucks)

Barge transport is cost-effective

The Economics of River Transportation

32

Hidrovia Region Soybean Production

Corumba Brazil Iron Ore Production

Hidrovia accounts for ~50% of

world soybean production

Increased Chinese demand driving

Brazilian iron ore production growth

Hidrovia Importance in World Dry Bulk Trade

Mi lli on Me tr ic T on s

Note: Crop years for Soybean Production according to USDA definition, P = Preliminary, E = Estimate Note: Iron Ore data for 2012 is provisional

Source: Data from USDA February 2013, Drewry as of February 2013

Regi on % of W orld T h o u s a n d M e tri c T o n s

Source: Web site of the UNESCO/IHP Regional Office of Latin America and the Caribbean

Water requirement equivalent of main food products

Global Virtual Water Imbalances Will Continue to be a Driver of Agricultural Trade

This table gives examples of water required per unit of major food products, including livestock, which consume the most water per unit. Cereals, oil crops, and pulses, roots and tubers consume far less water.

Source: FAO, 1997a

Product Unit Equivalent water in m3 per unit

Fresh beef kg 15 Fresh lamb kg 10 Fresh poultry kg 6 Cereals kg 1.5 Citrus fruits kg 1 Palm oil kg 2

Puls, roots and tubers kg 1

North & Central America Africa Asia South America Europe 15% 8% 26% 6% 11% 13% 8% 13% 36% 60% 5% <1% Australia & Oceania

% of Global Water Supply % of Global Population

Fresh Water Availability vs. Population:

Grain Exports = Virtual Water Trade

Track Record of Strong EBITDA Growth

34

Revenue ($ million)

EBITDA ($ million)

14.6% CAGR

21.7% CAGR

Navios Logistics Q4 2012 Earnings Highlights

35 (in $ ‘000) Three months ended Dec 31, 2012 Three months ended Dec 31, 2011 Y-O-Y Variance Year ended Dec 31, 2012 Year ended Dec 31, 2011 Y-O-Y Variance Navios Logistics Revenue 58,588 66,780 (12%) 247,033 234,688 5% EBITDA 10,885 10,071 8% 48,132 39,021 23%

Net (loss)/ income (748) (1,179) (37%) 156 (196) N/A

Port Terminals Revenue 25,086 29,927 (16%) 100,623 92,410 9% EBITDA 5,008 2,926 71% 23,599 14,432 64% Barge Business Revenue 22,244 26,088 (15%) 93,853 91,050 3% EBITDA 3,374 6,526 (48%) 12,901 11,539 12% Cabotage Business Revenue 11,258 10,765 5% 52,557 51,228 3% EBITDA 2,503 619 304% 11,632 13,050 (11%)

Navios Logistics 2012 Balance Sheet

36

Selected Balance Sheet Data

(in $'000) Year Ended December 31, 2012 Year Ended December 31, 2011

Cash & cash equivalents 45,538 40,529

Accounts Receivable 26,492 31,959

Vessels port terminal and other fixed assets, net 356,038 350,088

Total Assets 633,714 621,235

Senior notes 200,000 200,000

Current portion of long term debt 69 69

Long term debt, net of current portion 529 599

Current portion of capital lease obligations 1,353 31,221

Capital lease obligations, net of current portion 23,759 -

Noncontrolling Interest 561 541

Stockholders Equity (1) _{320,840 320,684}

Book Capitalization (1) _{546,550 552,573}

Net Debt / Book Capitalization 33% 35%

Navios Maritime Partners

Price

(1)

_Yield

(1)

NYSE: NMM

$14.00

12.64%

(1) As of market close 2/15/2013

Long Term Charter Coverage

Operating Expense Visibility

• Fixed operating costs until December 2013

Young, Growing Fleet

• More than tripled fleet capacity since

November 2007 IPO

• Fleet age of 6.2 years (1) _{vs. industry fleet age}

of approx. 9.8 years (2)

Steady Increase in

Distribution Per Unit

• 26.4% increase in distributions since inception

(1) Navios Maritime Partners fleet age weighted by DWT (2) Source: Drewry’s as of January 2013

Strong Counterparties

• Strong creditworthy counterparties

(Mitsui, Cosco, Rio Tinto, STX Panocean, etc.)

Insured Revenue Stream

Long-term contracts insured by:

• AA rated Insurance Company in the EU • Sponsor, Navios Maritime Holdings Inc.

• Average charter duration is approx 3.1 years • Staggered charter-out expirations minimize

charter renewal risk

Company Highlights

100% Membership Interest

2.0% General Partner Interest Incentive Distribution Rights

76.6% Limited Partner Interest

21.4% Limited Partner Interest

21 Dry Bulk Vessels

7 Capesize, 12 Panamax and 2 Ultra Handymax Dry Bulk Carriers

100% Membership Interest

Navios GP L.L.C.

(General Partner)

Navios Maritime Partners L.P.

NYSE: NMM

Common Unitholders

Navios Maritime Holdings Inc.

NYSE: NM

Navios Partners Ownership Structure

2007 2008 2009 2010 2011 2012 2013

Benefits from our operating history

Nov 2007: NYSE Listing Navios Maritime Partners LP (NMM) Oct 2009: Dropdown of Navios Apollon Jan 2010: Exercise Purchase Option of Navios Sagittarius; Dropdown of Navios Hyperion Jun 2009: Dropdown of Navios Sagittarius Apr 2008: Dropdown of

Navios Hope (Aurora)

May 2008: Exercise Purchase Option of Navios Fantastiks Feb 2010: $62.4mm equity offering Mar 2010: Dropdown of Navios Aurora II Nov 2010: Dropdown of Navios Melodia & Navios Fulvia May 2010: $92.3 mm equity offering May 2010: Dropdown of Navios Pollux Oct 2010: $111.6 mm equity offering Apr 2011: $90.5mm equity offering May 2011: Dropdown of Navios Orbiter & Navios Luz

• $636.6 million raised in equity offerings • Multiple avenues of growth

• Significant distribution growth since IPO – 26.4% increase

• Benefiting from Strong Sponsor (dropdown of vessels, controlled operational costs)

May 2009: $36.1mm equity offering Sep 2009: $38.6mm equity offering Nov 2009: $59.6mm equity offering May 2012: $72.1mm equity offering June 2012: Dropdown of Navios Buena Ventura July 2012: Acquisition of Navios Soleil and Navios Helios Jan 2013: $73.2mm equity offering

Ready Access to Capital Markets

2012 & 2013 Developments

2013

$73.2 million “overnight” equity raised in Q1 2013

• 5,175,000 common units issued at $14.15 per unit

2012

$109.0 million Acquisition of Three Vessels

• Navios Buena Ventura (2010 Capesize) delivered in Q2 2012

− Chartered out at $29,356 net per day until October 2020 with 50/50 profit sharing • Navios Soleil (2009 Ultra-Handymax) delivered in Q3 2012

− Chartered-out at $8,906 net per day until December 2013 • Navios Helios (2005 Panamax) delivered in Q3 2012

− Chartered-out at $9,738 net per day until September 2013 • New Vessels Financed by:

− New credit facility with DVB and ABN AMRO of $44.0 million

− Net proceeds from Q2 2012 offering of 4.6 million units: $70.0 million

$72.1 million “overnight” equity raised in Q2 2012

• 4,600,000 common units issued at $15.68 per unit

• $1.5 million from 93,878 additional general partnership units issued to GP

$24.6 million of cash received for the restructuring of credit default insurance

• $10.8 million applied to repay debt otherwise due in 2013 • $13.8 million applied to repay debt otherwise due in 2014 +

Credit Default Insurance

$

277.2 million of new coverage (cash + insurance)

• $252.6 million of revenue covered under new insurance policies

− $175.9 million of revenue covered by AA rated insurance company

− $ 76.7 million of revenue covered by Navios Holdings

• $24.6 million of cash received from credit default insurer

− $ 9.8 million attributable to defaulted charters

− $ 14.8 million additional cash compensation

$140.0 million maximum cash recovery under new insurance policies

• $120.0 million

(1)

_{from the pool arrangement backed by a AA rated Credit Default}

Insurer

• $ 20.0 million from Navios Holdings

80% of insured revenue relates to investment grade counterparties

278% of revenue from non-investment grade revenue covered by maximum cash payment

$175.9 million of revenue insured by AA rated insurance company

(1) Navios Holdings has additional charters totaling $41.2 million that also participate in this pool coverage

Large Diversified Young Fleet

• 48 vessels, 44 in operation

• Healthy newbuilding program of fully funded owned-vessel plus chartered-in fleet with purchase options • Navios Group controls 98 vessels (1)

Benefit from Seasoned Technical and Commercial Management Team

• Technical and Commercial operating agreement provides OPEX of approximately 24% less than industry average(2)

due to economies of scale

• Strong Long-Term customer relationships

• Leverage brand name with industry players, shipyards and banks

Omnibus Agreement

• NMM Option on acquisition of owned Panamax and Capesize vessels chartered out for 3+ years

Management & Administrative Services Agreements with Navios Holdings fixes

operating expenses

• Management and Administrative Services Agreements extended for additional 5 years until December 2017 • Management Agreement fixes fees through December 2013

– 3% increase for a 2-year period ending December 2013 at:

– $4,650 per Ultra-Handymax vessel per day

– $4,550 per Panamax vessel per day

– $5,650 per Capesize vessel per day

• This agreement enhances the visibility of our cost base

Benefits from a Strong Sponsor

43

(1) Navios Group is composed of Navios Holdings (NM), Navios Partners (NMM) and Navios Acquisition (NNA). Excludes Navios Logistics’ fleet (2) Source: Drewry Shipping Consultants October 2012

Multiple Avenues of Distribution Growth

Since IPO: 26.4% Distribution increase

261% Operational fleet capacity increase

• Exercised purchase option for Navios Fantastiks in Q2 2008 and Navios

Sagittarius in Q1 2010 • Purchase options on

Navios Prosperity and Navios Aldebaran

Exercising Purchase

Options

Opportunities in the

Dry Bulk S&P Market

Through Navios

Group Vessels

• Vessel values have fallen significantly from 2008 highs

• Two vessels acquired in the open market

• Highly fragmented industry • Distressed opportunities

expected to arise • Right to purchase Capesize

and Panamax vessels on 3+ year charters

• Eleven vessels dropped down since IPO

• Navios Group has grown to a controlled fleet of 98 vessels of which 69 are dry bulk vessels February 2013 2,259,103 DWT November 2007 IPO 626,100 DWT

+261%

(1)

(1) Includes owned and chartered-in tonnage

Successful Acquisition History

45

• Since Inception, Sponsor has dropped down 11 vessels generating aggregate annual EBITDA of approximately $115.3 million (1)

(1) Assumes 360 revenue days, 365 opex days and $0.2 million of general and administrative expenses per vessel

Vessels Type Built DWT

Navios Apollon Ultra-Handymax 2000 52,073

Navios Hyperion Panamax 2004 75,707

Navios Orbiter Panamax 2004 76,602

Navios Hope Panamax 2005 75,397

Navios Sagittarius Panamax 2006 75,756

Navios Aurora II Capesize 2009 169,031

Navios Pollux Capesize 2009 180,727

Navios Fulvia Capesize 2010 179,263

Navios Melodia Capesize 2010 179,132

Navios Luz Capesize 2010 179,144

Navios Buena Ventura Capesize 2010 179,259

Vessels Type Built DWT

Navios Soleil Ultra-Handymax 2009 57,337

Navios Helios Panamax 2005 77,075

Constellation Energy Group, 7.8% Other, 8.2% Rio Tinto, 5.7% Cosco, 11.9% Samsun Logix, 14.5% STX Pan Ocean, 14.1% Korea Line, 14.5% Hanjin, 23.4%

(1) In January 2011, Korea Line Corporation (“KLC”) filed for receivership. The charter was affirmed and will be performed by KLC on its original terms, provided that during an interim suspension period the sub-charterer of Navios Melodia pays Navios Partners directly.

20%

80%

1-3 years 3-6 years 6-10 years

Portfolio of Industry Leading Charterers

Average Charter Duration: approx. 3.1 years

80% of contracted revenue secured by charters running longer than 3 years

Diversified customer base with strong creditworthy counterparties

Revenues by Charterer

Remaining Charter Duration

(1)

(1) Per day, net of commission. These rates do not include insurance proceeds received upfront in December 2012 (2) Profit sharing 50% above $16,984/day based on Baltic Panamax TC Avg

(3) Profit sharing 50% above $38,500/day based on Baltic Exchange Capesize TC Average

(4) In January 2011, Korea Line Corporation (“KLC”) filed for receivership. The charter was affirmed and will be performed by KLC on its original terms, provided that during an interim suspension period the sub-charterer of Navios Melodia pays us directly

(5) Profit sharing 50% above $37,500/day based on Baltic Exchange Capesize TC Average

Staggered Charter Expirations

(1)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Melodia Luz Buena Ventura Aurora II Pollux Sagittarius Galaxy I Fulvia Libra II Hyperion Orbiter Apollon Fantastiks Gemini S Alegria Soleil Helios Hope Felicity Prosperity Aldebaran $16,984 (2) _{Feb 2014} $12,000 Sep 2015 $12,000 June 2013 $26,169 Jun 2013 $17,562 Aug 2013 $14,678 (6) _{Mar 2014} $24,225 Feb 2014 $37,953 Apr 2014 $21,937 Feb 2018 $26,125 Nov 2018 $42,250 Jul 2019 $29,356 (3) _{Nov 2020} $28,391 Mar 2013 $50,588 Sept 2015 $29,356 (5) _{Sep 2022} (4) $38,052 Apr 2014 $41,325 Nov 2019 $12,500 $13,500 Feb 2014 (7) $29,356 (3) _{Oct 2020}

(6) Amount represents daily rate of mitigation proceeds following the default of the original charterer

(7) Profit sharing: The owners will receive 100% of the first $1,500 in profits above the base rate and thereafter all profits will be split 50% to each party.

(8) Profit sharing 50% on actual results above the base rates (9) Navios Partners fleet age weighted by DWT

(10) Source: Drewry Shipping Consultants, February 2013

$8,906 Dec 2013

$9,738 Sept 2013

(8)

(8)

Average Age of Navios Partners’ Fleet(9)_{: 6.2 years}

Average Age of Dry Bulk Industry Fleet(10)_{: 9.8 years}

2013 Charter Coverage 87.6%

Q4 & FY Ended Dec 31, 2012 Earnings Highlights

Earnings Highlights

(in $ million)

except active vessels and available days

Three months ended December 31, 2012 Three months ended December 31, 2011 Y-O-Y Variance Year ended December 31, 2012 Year ended December 31, 2011 Y-O-Y Variance

Time charter revenue 52.8 50.5 4.6% 205.4 187.0 9.8%

EBITDA 61.3* 38.6 58.8% 177.4* 137.8 28.7%

Net Income 40.1* 18.7 114.4% 95.9* 65.3 46.9%

EPU 0.65* 0.35 85.7% 1.61* 1.33 21.1%

Operating Surplus 54.2 31.3 73.2% 148.9 115.9 28.5%

Replacement Capex Reserve 4.9 4.8 2.1% 18.9 18.6 1.6%

Active Vessels 21 18 16.7% 21 18 16.7%

Available Days 1,914 1,647 16.2% 7,002 6,251 12.0%

EBITDA represents net income plus interest and finance costs plus depreciation and amortization and income taxes. EBITDA is presented because Navios Partners believes that EBITDA is a 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 pay dividends. EBITDA is a “non-GAAP financial measure” 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. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service requirements, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation.

Operating Surplus represents net income adjusted for depreciation and amortization expense, non-cash interest expense and estimated maintenance and replacement capital expenditures. Maintenance and replacement capital expenditures are those capital expenditures required to maintain over the long term the operating capacity of, or the revenue generated by, Navios Partners’ capital assets. Operating 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 US GAAP and should not be considered as an alternative to net income or any other indicator of Navios Partners’ performance required by US GAAP.

* Positively affected by $22.5 million accounting effect from the restructuring of the credit default insurance

Balance Sheet

Selected Balance Sheet Data (in $ million)

December 31, 2012 December 31, 2011

Cash & cash equivalents (1) _{61.7 56.5}

Other current assets 8.4 7.0

Vessels, net 721.4 667.2

Total Assets 955.0 909.9

Deferred revenue, current 9.1 10.9

Other current liabilities 27.4 9.1

Long term debt, current portion 23.7 36.7

Long term debt 276.0 289.4

Total partners’ capital 618.7 559.6

Total liabilities & partners’ capital 955.0 909.9

Net Debt / Asset Value (charter attached) (2) _{32.4% 35.1%}

Accumulated Replacement Capex Reserve 71.0 52.1

(1) Includes restricted cash

(2) Considers Clarksons charter attached values of owned vessels as of December 2012

Q4 2012 Cash Distribution

Operating Surplus:

$54.2 million

Total Unit Coverage:

1.96x

Distribution:

$27.6 million

•

$26.6 million to Common Units

•

$1.0 million to GP Units

Cash Distribution of $0.4425 per unit for Q4 2012 ($1.77 annualized)

Record Date:

February 8, 2013

Payment Date:

February 14, 2013

Tax Efficient Status – Distributions reported on Form-1099

Committed to minimum distribution of $1.77 per unit for 2013

Significant Growth: Distribution & Key

Operating Metrics

Dividend Distribution Trend

Q4 2012 $0.4425 Q3 2012 $0.4425 Q2 2012 $0.4425  Q1 2012 $0.44 Q4 2011 $0.44 Q3 2011 $0.44 Q2 2011 $0.44  Q1 2011 $0.43 Q4 2010 $0.43  Q3 2010 $0.42 Q2 2010 $0.42  Q1 2010 $0.415  Q4 2009 $0.41  Q3 2009 $0.405  Q2 2009 $0.40 Q1 2009 $0.40 Q4 2008 $0.40  Q3 2008 $0.385  Q2 2008 $0.35 Q1 2008 $0.35

Current Annualized Yield: 12.64%

Current Annual Distribution Run Rate = $1.77

(As of February 15, 2013)

0

10

20

30

40

50

60

70

Significant Growth in Key

Operating Metrics

EBITDA

Operating Surplus Net Income

Navios Maritime Acquisition

Price

(1)

_Yield

(1)

_Amount

NYSE: NNA

$3.22

6.21%

8.625% Secured Bonds Due 2017

CUSIP 63938MAB2

$97.00 9.42%

$505M

(1) As of market close 2/15/2013

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0 IPO – July 2008 (NYSE:NNA)  Raised $253.0 million gross proceeds

2008

Product & Chemical Tanker

Acquisition – May 2010

 Acquired 13 product and

chemical tankers and two options for $457.7 million

VLCC Tanker Acquisition – September 2010

 Acquired 7 VLCC tankers for $587.0 million with

long-term charters to strong counterparties

2009

2010

Warrant Program – September 2010

 Raised $78.3 million and

simplified equity capital structure

Today

Bond Issued – October 2010

 $400.0 million

 8.625% Mortgage Notes due 2017

Acquired 2 LR1 NB Product Tankers – October 2010  $82.8 million Equity Offering – November 2010  Raised $35.8 million gross proceeds  6.5 million shares issued Bond Additional Issue – May 2011  $105.0 million  8.625% Mortgage Notes due 2017 Acquired 2 MR2 on-the-water Product Tankers – June 2011  $84.8 million

Exercise of Options for 2 LR1 NB Product Tankers – July 2011

 $81.0 million

2011

Acquired 3 MR2 NB Product Tankers – January 2012  $106.5 million

2012

53

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0

Large, Modern and Diverse Tanker Fleet

 29 owned vessels (21 in the water(1)_{), including 8 newbuildings}

 Modern high-quality fleet with an average age of 4.9 years  Diverse portfolio of VLCC, LR1, MR2 and Chemical Tankers

Focus on Long-Term Contracted Revenue

 91.1% of revenue days fixed in 2013 - $180.0 million  56.4% of revenue days fixed in 2014 - $142.0 million

 Available revenue days will grow from 5,786 days in 2012 to 9,949 days in 2014 (72% growth in available revenue days)

 Average duration of all charters of 2.9 years

Significant Upside from Profit Sharing

 Ideally positioned to capture product tanker recovery

 80% of entire fleet and 83% of product tanker fleet has profit sharing

 Every $1,000 of profit share above base rate provides $5.4 million free cash flow or $0.13 per common share annualized

Low Cash Flow Breakeven

 Full cost of entire fleet covered from existing long-term charters for 2013  Fixed operating expenses below the industry average (until mid-2014)  Leverage economies of scale of Navios Holdings

Strong Counterparties

 Diverse group of large, first-class charterers

 Exposure to oil majors and large Asian petrochemical, refining and shipping companies (DOSCO, Shell, Formosa, Sinochem, SK Shipping)

Seasoned Management Team with Established Brand and Track

Record

 Strategic relationships with shipyards, commercial banks and key industry players  Average industry experience of 20+ years per person

 Tanker expertise supplemented with drybulk industry veterans

Favorable Long-Term Industry Dynamics

 Strong emerging market demand, increasing transport distances, recovering product tanker industry fundamentals, cancellations of ships in orderbook

(1) Includes Nave Rigel expected delivery by February 15, 2013 54

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0

NNA - Positioned to capture strength in product tanker market

Profit Sharing

■ 80% of entire fleet and 83% of product tanker fleet

■ $2.0 million earned in 2012

- $0.05 per common share

■ $1.1 million earned in Q4 2012

- $0.03 per common share

■ Every $1,000 of profit share above base rate provides $5.4 million free cash flow

- $0.13 per common share annualized

Stability: Cash Flow Visibility

■ 91.1% of available days contracted in 2013

■ 56.4% of available days contracted in 2014

Built-in Annual EBITDA

(1)

_Growth

■ $13.9 million from seven vessels delivered in 2012 & Q1 2013

(2)

■ $110.0 million approximate run rate (based on Q4 2012 EBITDA)

(1) Assuming current operating costs and 360 revenue days per year

(2) Includes Nave Rigel expected delivery by February 15, 2013 ₅₅

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0

55%

43%

19%

24%

100%

(1)

_100%

_91.1%

26%

37%

36%

(1) % of fixed days 56

Newbuilding Deliveries Continue to Provide

Material Growth

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0 -5,000 0 5,000 10,000 15,000 20,000 Q1 Q2 Q3 Q4

BCTI TC5-TCE NNA LR1 Including Profit sharing NNA LR1 Base Rate

MR2 Product Tankers

(2)

LR1 Product Tankers

(1)



Period chartering strategy provides cash flow visibility and protection from downward volatility



Profit sharing captures market movements above the contracted base rate

Industry Average(3)_{: $10,851}

(US$ per day) (US$ per day)

Industry Average(3)

(1) Indicative profit sharing benchmarking of Nave Andromeda and Nave Estella with BCTI - TC5 index (2) Indicative profit sharing benchmarking of Nave Atria and Nave Aquila with BCTI TC2_37 index (3) Clarksons average 2012 earnings for LR1s and MR2s

(4) Days contracted with profit sharing element

Industry Average(3)

Industry Average(3)_{: $6,191}

Per Contracted Day (4) _{LR1 Product Tankers MR2 Product Tankers Chemical Tankers}

Average Profit sharing $1,031 $436 $ 830

Average Contracted Rate $11,906 $13,331 $11,700

Total Earned $12,937 $13,767 $12,530

57

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0

Vessel Anticipated Delivery Date DWT

Nave Orion MR2 Product Tanker Q1

2013

50,000

Nave Titan MR2 Product Tanker Q1 50,000

Nave Capella MR2 Product Tanker Q2 50,000

Nave Atropos LR1 Product Tanker Q2 75,000

Nave Alderamin MR2 Product Tanker Q2 50,000

MR2 Product Tanker Q2 2014 50,000 MR2 Product Tanker Q3 50,000 MR2 Product Tanker Q4 50,000

Equity

requirements

only on delivery

(1) Excludes Nave Rigel expected to be delivered by February 15, 2013

Aggregate Cost = $279.3 million

Secured financing = ($209.9 million ) Equity already paid = ($36.3 million ) Preferred Equity = ($3.0 million )

Remaining Balance = $30.1 million

2013 = $7.9 million

2014 = $22.2 million

58

2013-2013: Eight Vessels to be Delivered

Color Scheme 255,255,255 51,51,153 221,242,250 0,153,153 128,128,128 153,204,0 255,255,255 0,0,0

_Cash

(1)

_64.0

Debt

1,029.1

Shareholders' Equity

225.3

Capitalization

1,254.4

Net Debt / Capitalization

76.9%

December 31, 2012

(in millions US$)

Available Credit Lines

72.4

Drawn Portion

(67.4)

Cash

64.0

Total Liquidity

69.0

(1) Includes restricted cash

- - - -46.5 544.2 32.0 95.1 116.8 100 200 300 400 500 600 2012 2013 2014 2015 2016 2017 2018 2019 2020+

Debt Maturity

(US $ m) 59