Navios Maritime Partners L.P. Reports Financial Results for the First Quarter Ended March 31, 2025

Revenue: $304.1 million for Q1 2025 Net Income: $41.7 million for Q1 2025 Earnings per common unit: $1.38 for Q1 2025 Net cash from operating activities: $156.6 million for Q1 2025 EBITDA: $147.6 million for Q1 2025 Returning capital to unitholders: 423,984 common units repurchased in 2025 (through May 1st) for $16.1 million$0.05 per unit cash distribution for Q1 2025; $0.20 per unit annualized Sales and purchases YTD 2025: $34.7 million gross sale proceeds from sale of three vessels; average age of 19.1 yearsFour newbuilding vessels delivered $ 3.4 billion contracted revenue as of April 2025 PIRAEUS, Greece, May 07, 2025 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. (“Navios Partners”) (NYSE: NMM), an international owner and operator of dry cargo and tanker vessels, today reported its financial results for the first quarter ended March 31, 2025. Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “I am pleased with the results for the first quarter of 2025, in which we reported revenue of $304.1 million, EBITDA of $147.6 million and net income of $41.7 million. In addition, earnings per common unit were $1.38 for the quarter.” Angeliki Frangou continued, “The economic environment over the past month has been particularly uncertain, with the global expectations being driven by the unprecedented U.S. tariff proclamation, followed by revisions, pauses, and exceptions. In response, sentiment turned bearish, and the U.S. and other financial markets experienced extraordinary volatility, with the U.S. financial markets recovering only last week to the pre-tariff announcement levels. As the U.S. administration maneuvers toward a tariff regime furthering its policy aspirations, a faint outline is starting to emerge. It appears the potential impact on maritime transportation may be more muted than feared, although extreme outcomes are still possible.” Common unit repurchases As of May 1, 2025, pursuant to its previously announced common unit repurchase program, Navios Partners has repurchased 423,984 common units in 2025 and 913,939 common units since the commencement of the program, for aggregate cash consideration of approximately $16.1 million and $41.1 million, respectively. As of May 1, 2025, there were 29,270,449 common units outstanding. Cash distribution The Board of Directors of Navios Partners declared a cash distribution for the first quarter of 2025 of $0.05 per unit. The cash distribution will be paid on May 14, 2025 to unitholders of record as of May 9, 2025. The declaration and payment of any further dividends remain subject to the discretion of the Board of Directors and will depend on, among other things, Navios Partners’ cash requirements as measured by market opportunities and restrictions under its credit agreements and other debt obligations and such other factors as the Board of Directors may deem advisable. Fleet update Sale of vessels YTD 2025 $34.7 million gross sale proceeds from sale of three vessels with average age of 19.1 years In February and March 2025, Navios Partners agreed to sell one 2006-built panamax, one 2005-built panamax and one 2007-built 2,741 TEU containership to unrelated third parties, for aggregate gross sale proceeds of $34.7 million. The sales of the 2005-built panamax and the 2006-built panamax were completed in March and April 2025, respectively, and the sale of the 2,741 TEU containership is expected to be completed in the second quarter of 2025. Four newbuilding vessels delivered YTD 2025 In January and April 2025, Navios Partners took delivery of two 2025-built aframax/LR2 tankers, which have been chartered-out at an average rate of $26,349 net per day for a period of five years. In January and February 2025, Navios Partners took delivery of two 2025-built LNG dual fuel 7,700 TEU containerships, which have been chartered-out at an average rate of $41,753 net per day for a period of 12 years. Financing update In March 2025, Navios Partners extended the maturity of a sale and leaseback transaction with an unrelated third party, with an outstanding amount of $45.4 million for 11 containerships. The sale and leaseback transaction matures in the first quarter of 2029 and bears interest at Term Secured Overnight Financing Rate plus 175 bps per annum for the extension period. In February 2025, Navios Partners entered into interest rate swaps with a commercial bank for a notional amount of $87.9 million (the “Swap Transaction”) to hedge the interest rate of its existing credit facility. The Swap Transaction matures in four years. Under the terms of the Swap Transaction, Navios Partners pays a fixed rate of 412 bps per annum and receives a floating rate based on the three month average of the daily Compounded Secured Overnight Financing Rate. No additional collateral is required under the terms of the Swap Transaction. Following the Swap Transaction, 30% of Navios Partners’ debt and bareboat liabilities are fixed at an average interest rate of 5.5%. Operating Highlights Navios Partners owns and operates a fleet comprised of 69 dry bulk vessels, 49 containerships and 56 tankers, that includes 17 newbuilding tankers (11 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 four 7,900 TEU newbuilding containerships, that are expected to be delivered through the first half of 2027. The fleet excludes one containership agreed to be sold. As of April 28, 2025, Navios Partners had entered into short, medium and long-term time charter-out, bareboat-out and freight agreements for its vessels with a remaining average term of 2.1 years. Navios Partners has currently fixed 66.3% and 43.4% of its available days for the last nine months of 2025 and for all of 2026, respectively. Navios Partners expects contracted revenue of $714.1 million and $719.1 million for the last nine months of 2025 and for all of 2026, respectively. The average expected daily charter-out rate for the fleet is $25,703 and $28,407 for the last nine months of 2025 and for all of 2026, respectively. Navios Partners has $3.4 billion contracted revenue through 2037. EARNINGS HIGHLIGHTS For the following results and the selected financial data presented herein, Navios Partners has compiled condensed consolidated statements of operations for the three month periods ended March 31, 2025 and 2024. The quarterly information was derived from the unaudited condensed consolidated financial statements for the respective periods. EBITDA, Adjusted EBITDA, Adjusted Earnings per Common Unit basic and diluted and Adjusted Net Income are non-GAAP financial measures and should not be used in isolation or substitution for Navios Partners’ results calculated in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). Three Month Period Ended Three Month Period Ended March 31, 2025 March 31, 2024(3)(in $‘000 except per unit data)(unaudited) (unaudited)Revenue$304,112 $318,555 Net Income$41,727 $73,361 Adjusted Net Income$47,657(1) $71,484(2)Net cash provided by operating activities$156,552 $94,436 EBITDA$147,608 $166,155 Adjusted EBITDA$153,538(1) $164,278(2)Earnings per Common Unit basic$1.38 $2.38 Earnings per Common Unit diluted$1.38 $2.38 Adjusted Earnings per Common Unit basic$1.58(1) $2.32(2)Adjusted Earnings per Common Unit diluted$1.58(1) $2.32(2) (1) Adjusted Net Income, Adjusted EBITDA and Adjusted Earnings per Common Unit basic and diluted for the three month period ended March 31, 2025 have been adjusted to exclude a $5.9 million loss related to the sale of our vessels.(2) Adjusted Net Income, Adjusted EBITDA and Adjusted Earnings per Common Unit basic and diluted for the three month period ended March 31, 2024 have been adjusted to exclude a $1.9 million gain related to the sale of our vessels.(3) Where necessary, comparative figures have been reclassified to conform to changes in presentation in the current period. The company has changed its classification of “Direct vessel expenses” to reallocate these amounts between “Vessel operating expenses (including management fees)” and “Depreciation and amortization” in the condensed consolidated statements of operations. Management has assessed the impact of this change as immaterial to the financial statements, resulting in the reclassification of $3.2 million and $14.4 million of vessel operating expenses and amortization of deferred drydock and special survey costs, respectively, under the captions “Vessel operating expenses (including management fees)” and “Depreciation and amortization” in the condensed consolidated statements of operations. The aggregate amount of $17.6 million was previously presented under the caption “Direct vessel expenses” in the condensed consolidated statements of operations for the three month period ended March 31, 2024. Three month periods ended March 31, 2025 and 2024 Time charter and voyage revenues for the three month period ended March 31, 2025 decreased by $14.5 million, or 4.6%, to $304.1 million, as compared to $318.6 million for the same period in 2024. The decrease in revenue was mainly attributable to the decrease in: the Time Charter Equivalent (“TCE”) rate, the available days of our fleet and the revenue from freight voyages. For the three month periods ended March 31, 2025 and 2024, time charter and voyage revenues were negatively affected by $2.6 million and positively affected by $0.1 million, respectively, relating to the straight line effect of the charters with de-escalating rates. The TCE rate decreased by 1.1% to $21,271 per day, as compared to $21,514 per day for the same period in 2024. The available days of the fleet slightly decreased by 0.6% to 13,456 days for the three month period ended March 31, 2025, as compared to 13,540 days for the same period in 2024. EBITDA of Navios Partners for the three month periods ended March 31, 2025 and 2024 was affected by the items described in the table above. Excluding these items, Adjusted EBITDA decreased by $10.8 million to $153.5 million for the three month period ended March 31, 2025, as compared to $164.3 million for the same period in 2024. The decrease in Adjusted EBITDA was primarily due to a: (i) $14.5 million decrease in time charter and voyage revenues; (ii) $6.7 million increase in vessel operating expenses mainly due to the increase in the opex days by 4.8% and the change in the composition of our fleet with deliveries and sales of vessels; (iii) $1.3 million increase in general and administrative expenses in accordance with our administrative services agreement; and (iv) $0.2 million increase in other expense, net. The above decrease was partially mitigated by an $11.9 million decrease in time charter and voyage expenses, mainly due to the decrease in bunker expenses arising from the decreased days of freight voyages in the first quarter of 2025. Net Income for the three month periods ended March 31, 2025 and 2024 was affected by the items described in the table above. Excluding these items, Adjusted Net Income decreased by $23.8 million to $47.7 million for the three month period ended March 31, 2025, as compared to $71.5 million for the same period in 2024. The decrease in Adjusted Net Income was primarily due to: (i) a $10.8 million decrease in Adjusted EBITDA; (ii) an $8.9 million negative impact from the depreciation and amortization, that primarily resulted from a $5.1 million increase in depreciation and amortization of favorable lease terms, a $3.6 million increase in the amortization of deferred drydock and special survey costs and a $0.2 million decrease in the amortization of unfavorable lease terms; and (iii) a $4.1 million increase in interest expense and finance cost, net. Fleet Employment Profile The following table reflects certain key indicators of Navios Partners’ core fleet performance for the three month periods ended March 31, 2025 and 2024. Three Month Period EndedMarch 31, 2025 Three Month Period EndedMarch 31, 2024 (unaudited) (unaudited)Available Days(1) 13,456 13,540 Operating Days(2) 13,349 13,445 Opex Days(3) 13,586 12,961 Fleet Utilization(4) 99.2% 99.3%TCE rate Combined (per day)(5)$21,271 $21,514 TCE rate Dry Bulk (per day)(5)$12,722 $14,209 TCE rate Containerships (per day)(5)$30,501 $29,838 TCE rate Tankers (per day)(5)$26,082 $28,087 Opex rate Combined (per day)(6)$6,981 $6,799 Vessels operating at period end 154 151 (1) 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. The shipping industry uses available days to measure the number of days in a relevant period during which a vessel is capable of generating revenues.(2) Operating days are the number of available days in the relevant period less the aggregate number of days that the vessels were 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) Opex days for the fleet represent total calendar days the vessels were in Navios Partners’ possession for the relevant period after subtracting total calendar days of Navios Partners’ charter-in vessels and bareboat-out vessels.(4) Fleet utilization is the percentage of time that Navios Partners’ vessels were available for generating revenue, and is 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 of days that its vessels were off-hire for reasons other than scheduled repairs, drydockings or special surveys.(5) TCE rate: TCE rate per day is defined as voyage, time charter revenues and charter-out revenues under bareboat contracts (grossed up by the applicable 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.(6) Opex rate: Opex rate per day is defined as vessel operating expenses (including management fees) divided by the number of opex days during the period. Conference Call Details: Navios Partners' management will host a conference call on Wednesday, May 7, 2025 to discuss the results for the first quarter ended March 31, 2025. Call Date/Time: Wednesday, May 7, 2025 at 8:30 am ETCall Title: Navios Partners Q1 2025 Financial Results Conference Call US Dial In: +1.800.445.7795International Dial In: +1.785.424.1699 Conference ID: NMMQ125 The conference call replay will be available two hours after the live call and remain available for one week at the following numbers: US Replay Dial In: +1.800.839.8292International Replay Dial In: +1.402.220.6069 Slides and audio webcast: There will also be a live webcast of the conference call, through the Navios Partners website (www.navios-mlp.com) under “Investors”. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast. A supplemental slide presentation will be available on the Navios Partners website at www.navios-mlp.com under the “Investors” section at 8:00 am ET on the day of the call. About Navios Maritime Partners L.P. Navios Maritime Partners L.P. (NYSE: NMM) is an international owner and operator of dry cargo and tanker vessels. For more information, please visit our website at www.navios-mlp.com. Forward-Looking Statements This press release contains and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, TCE rates and Navios Partners’ expected cash flow generation, future contracted revenues, future distributions and its ability to make distributions going forward, opportunities to reinvest cash accretively in a fleet renewal program or otherwise, potential capital gains, its ability to take advantage of dislocation in the market and Navios Partners’ growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters and Navios Partners’ ability to refinance its debt on attractive terms, or at all. Words such as “may,” “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Partners at the time these statements were made. Although Navios Partners believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Partners. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks relating to: global and regional economic and political conditions including global economic activity, demand for seaborne transportation of the products we ship, the ability and willingness of charterers to fulfill their obligations to us and prevailing charter rates, the economic condition of the markets in which we operate, shipyards performing scrubber installations, construction of newbuilding vessels, drydocking and repairs, changing vessel crews and availability of financing; potential disruption of shipping routes due to accidents, wars, 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; the growing expectations from investors, lenders, charterers, and other market participants regarding our sustainability practices, as well as our capacity to implement sustainability initiatives and achieve our objectives and targets; and other factors listed from time to time in Navios Partners’ filings with the Securities and Exchange Commission, including its Form 20-Fs and Form 6-Ks. Navios Partners expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Partners’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Partners makes no prediction or statement about the performance of its common units. Contacts Navios Maritime Partners L.P.+1 (212) 906 8645Investors@navios-mlp.com Nicolas BornozisCapital Link, Inc.naviospartners@capitallink.com EXHIBIT 1 NAVIOS MARITIME PARTNERS L.P.SELECTED BALANCE SHEET DATA(Expressed in thousands of U.S. Dollars) March 31,2025(unaudited) December 31,2024(unaudited)ASSETS Cash and cash equivalents, including restricted cash and time deposits over three months(1) $342,950 $312,078 Other current assets 100,394 130,913 Total current assets 443,344 442,991 Vessels, net 4,500,169 4,241,292 Other non-current assets 789,542 988,957 Total non-current assets 5,289,711 5,230,249 Total assets $5,733,055 $5,673,240 LIABILITIES AND PARTNERS’ CAPITAL Other current liabilities $173,405 $143,444 Current portion of borrowings, net 265,908 266,222 Total current liabilities 439,313 409,666 Non-current portion of borrowings, net 1,875,186 1,862,715 Other non-current liabilities 283,483 294,231 Total non-current liabilities 2,158,669 2,156,946 Total liabilities $2,597,982 $2,566,612 Total partners’ capital 3,135,073 3,106,628 Total liabilities and partners’ capital $5,733,055 $5,673,240 (1) Includes time deposits with duration over three months of $21.4 million and $12.3 million as of March 31, 2025 and December 31, 2024, respectively. NAVIOS MARITIME PARTNERS L.P.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Expressed in thousands of U.S. Dollars except per unit data) Three Month Period EndedMarch 31, 2025 Three Month Period EndedMarch 31, 2024(1) (unaudited) (unaudited)Time charter and voyage revenues $304,112 $318,555 Time charter and voyage expenses (30,017) (41,911)Vessel operating expenses (including management fees) (94,842) (88,128)General and administrative expenses (21,972) (20,744)Depreciation and amortization (78,645) (69,917)Amortization of unfavorable lease terms 2,880 3,136 (Loss)/ gain on sale of vessels (5,930) 1,877 Interest expense and finance cost, net (33,510) (29,409)Interest income 3,394 3,396 Other expense, net (3,743) (3,494)Net income $41,727 $73,361 (1) See footnote 3 under “Earnings Highlights”. Earnings per unit: Three Month Period Ended Three Month Period Ended March 31, 2025March 31, 2024 (unaudited) (unaudited)Earnings per unit: Earnings per common unit, basic $1.38 $2.38 Earnings per common unit, diluted $1.38 $2.38 NAVIOS MARITIME PARTNERS L.P.Other Financial Information(Expressed in thousands of U.S. Dollars) Three Month PeriodEnded Three Month PeriodEnded March 31, 2025 March 31, 2024 (unaudited) (unaudited)Net cash provided by operating activities $156,552 $94,436 Net cash used in investing activities $(134,147) $(168,073)Net cash (used in)/ provided by financing activities $(630) $57,292 Increase/ (decrease) in cash, cash equivalents and restricted cash $21,775 $(16,345) EXHIBIT 2 Owned Dry Bulk Vessels Type Built Capacity(DWT)Navios Vega Transhipper 2009 57,573Navios Christine B Ultra-Handymax 2009 58,058Navios Celestial Ultra-Handymax 2009 58,063Navios Venus Ultra-Handymax 2015 61,339Navios La Paix Ultra-Handymax 2014 61,485N Amalthia Panamax 2006 75,356Navios Hope Panamax 2005 75,397Navios Sun Panamax 2005 76,619Navios Helios Panamax 2005 77,075Navios Victory Panamax 2014 77,095Rainbow N Panamax 2011 79,602Unity N Panamax 2011 79,642Odysseus N Panamax 2011 79,642Navios Amber Kamsarmax 2015 80,909Navios Avior Kamsarmax 2012 81,355Navios Centaurus Kamsarmax 2012 81,472Navios Citrine Kamsarmax 2017 81,626Navios Dolphin Kamsarmax 2017 81,630Navios Horizon I Kamsarmax 2019 81,692Navios Galaxy II Kamsarmax 2020 81,789Navios Uranus Kamsarmax 2019 81,821Navios Felicity I Kamsarmax 2020 81,962Navios Primavera Kamsarmax 2022 82,003Navios Meridian Kamsarmax 2023 82,010Navios Herakles I Kamsarmax 2019 82,036Navios Magellan II Kamsarmax 2020 82,037Navios Sky Kamsarmax 2015 82,056Navios Alegria Kamsarmax 2016 84,852Navios Sphera Kamsarmax 2016 84,872Navios Coral Kamsarmax 2016 84,904Copernicus N Post-Panamax 2010 93,062Navios Stellar Capesize 2009 168,818Navios Aurora II Capesize 2009 169,031Navios Antares Capesize 2010 169,059Navios Symphony Capesize 2010 177,960Navios Ace Capesize 2011 178,929Navios Aster Capesize 2010 178,978Navios Melodia Capesize 2010 178,982Navios Buena Ventura Capesize 2010 179,109Navios Luz Capesize 2010 179,144Navios Altamira Capesize 2011 179,165Navios Azimuth Capesize 2011 179,169Navios Bonheur Capesize 2010 179,204Navios Etoile Capesize 2010 179,234Navios Fulvia Capesize 2010 179,263Navios Ray Capesize 2012 179,515Navios Happiness Capesize 2009 180,022Navios Bonavis Capesize 2009 180,022Navios Fantastiks Capesize 2005 180,055Navios Phoenix Capesize 2009 180,060Navios Sol Capesize 2009 180,274Navios Lumen Capesize 2009 180,493Navios Canary Capesize 2015 180,528Navios Pollux Capesize 2009 180,727Navios Gem Capesize 2014 181,206Navios Joy Capesize 2013 181,215Navios Felix Capesize 2016 181,221Navios Corali Capesize 2015 181,249Navios Mars Capesize 2016 181,259Navios Koyo Capesize 2011 181,415Navios Azalea Capesize 2022 182,064Navios Armonia Capesize 2022 182,079Navios Altair Capesize 2023 182,115Navios Sakura Capesize 2023 182,169Navios Amethyst Capesize 2023 182,212Navios Astra Capesize 2022 182,393 Owned Containerships Type Built Capacity(TEU)Spectrum N Containership 2009 2,546Protostar N(1) Containership 2007 2,741Fleur N Containership 2012 2,782Ete N Containership 2012 2,782Navios Summer Containership 2006 3,450Navios Verano Containership 2006 3,450Matson Lanai Containership 2007 4,250Navios Verde Containership 2007 4,250Navios Amarillo Containership 2007 4,250Navios Vermilion Containership 2007 4,250Navios Azure Containership 2007 4,250Navios Indigo Containership 2007 4,250Navios Domino Containership 2008 4,250Matson Oahu Containership 2008 4,250Navios Tempo Containership 2009 4,250Navios Destiny Containership 2009 4,250Navios Devotion Containership 2009 4,250Navios Lapis Containership 2009 4,250Navios Dorado Containership 2010 4,250Carmel I Containership 2010 4,360Zim Baltimore Containership 2010 4,360Navios Bahamas Containership 2010 4,360Navios Miami Containership 2009 4,563Navios Magnolia Containership 2008 4,730Navios Jasmine Containership 2008 4,730Navios Chrysalis Containership 2008 4,730Navios Nerine Containership 2008 4,730Sparrow Containership 2023 5,300Zim Eagle Containership 2024 5,300Zim Condor Containership 2024 5,300Hawk Ι Containership 2024 5,300Zim Falcon Containership 2024 5,300Zim Pelican Containership 2024 5,300Zim Seagull Containership 2024 5,300Zim Albatross Containership 2024 5,300DP World Jeddah (ex Navios Utmost) Containership 2024 5,300DP World Jebel Ali (ex Navios Unite) Containership 2024 5,300Hyundai Shanghai Containership 2006 6,800Hyundai Tokyo Containership 2006 6,800Hyundai Hongkong Containership 2006 6,800Hyundai Singapore Containership 2006 6,800Hyundai Busan Containership 2006 6,800HMM Ocean Containership 2025 7,700HMM Sky Containership 2025 7,700Navios Unison Containership 2010 10,000Navios Constellation Containership 2011 10,000 Owned Tanker Vessels Type Built Capacity(DWT)Hector N MR1 Product Tanker 2008 38,402Nave Aquila MR2 Product Tanker 2012 49,991Nave Atria MR2 Product Tanker 2012 49,992Nave Capella MR2 Product Tanker 2013 49,995Nave Alderamin MR2 Product Tanker 2013 49,998Nave Pyxis MR2 Product Tanker 2014 49,998Nave Bellatrix MR2 Product Tanker 2013 49,999Nave Orion MR2 Product Tanker 2013 49,999Nave Titan MR2 Product Tanker 2013 49,999Nave Jupiter MR2 Product Tanker 2014 49,999Nave Velocity MR2 Product Tanker 2015 49,999Nave Sextans MR2 Product Tanker 2015 49,999Nave Luminosity MR2 Product Tanker 2014 50,240Bougainville MR2 Product Tanker 2013 50,626Nave Equinox MR2 Product Tanker 2007 50,922Nave Pulsar MR2 Product Tanker 2007 50,922Nave Cetus LR1 Product Tanker 2012 74,581Nave Ariadne LR1 Product Tanker 2007 74,671Nave Rigel LR1 Product Tanker 2013 74,673Nave Atropos LR1 Product Tanker 2013 74,695Nave Cassiopeia LR1 Product Tanker 2012 74,711Nave Cielo LR1 Product Tanker 2007 74,896Nave Andromeda LR1 Product Tanker 2011 75,000Nave Estella LR1 Product Tanker 2012 75,000Nave Cosmos Aframax/LR2 2024 115,651Nave Polaris Aframax/LR2 2024 115,699Nave Photon Aframax/LR2 2024 115,752Nave Dorado Aframax/LR2 2025 115,762Nave Neutrino Aframax/LR2 2025 115,807Nave Galactic VLCC 2009 296,945Nave Constellation VLCC 2010 296,988Nave Universe VLCC 2011 297,066Nave Quasar VLCC 2010 297,376Nave Buena Suerte VLCC 2011 297,491Nave Synergy VLCC 2010 309,483 Bareboat-in vessels Type Built Capacity(DWT) Purchase OptionNavios Star Kamsarmax 2021 81,994 YesNavios Amitie Kamsarmax 2021 82,002 YesNavios Libra Kamsarmax 2019 82,011 YesNave Electron VLCC 2021 313,239 YesNave Celeste VLCC 2022 313,418 YesBaghdad VLCC 2020 313,433 YesErbil VLCC 2021 313,486 Yes Newbuildings to be delivered Type ExpectedDelivery Date Capacity(TEU / DWT)TBN XVIII Containership H1 2026 7,900TBN XIX Containership H2 2026 7,900TBN XX Containership H2 2026 7,900TBN XXI Containership H1 2027 7,900TBN II MR2 Product Tanker H2 2025 52,000TBN III MR2 Product Tanker H1 2026 52,000TBN IV MR2 Product Tanker H2 2026 52,000TBN V MR2 Product Tanker H2 2026 52,000TBN VI MR2 Product Tanker H1 2027 52,000TBN VII MR2 Product Tanker H1 2027 52,000TBN I Aframax/LR2 Q2 2025 115,000TBN VIII Aframax/LR2 H1 2026 115,000TBN IX Aframax/LR2 H1 2026 115,000TBN X Aframax/LR2 H1 2026 115,000TBN XI Aframax/LR2 H2 2026 115,000TBN XII Aframax/LR2 H1 2027 115,000TBN XIII Aframax/LR2 H2 2027 115,000TBN XIV Aframax/LR2 H2 2027 115,000TBN XV Aframax/LR2 H2 2027 115,000TBN XVI Aframax/LR2 H2 2027 115,000TBN XVII Aframax/LR2 H1 2028 115,000 (1) Vessel agreed to be sold. EXHIBIT 3 Disclosure of Non-GAAP Financial Measures EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Common Unit, basic and diluted are “non-U.S. GAAP financial measures” and should not be used in isolation or considered substitutes for net income/ (loss), cash flow from operating activities and other operations or cash flow statement data prepared in accordance with generally accepted accounting principles in the United States. EBITDA represents net income before interest and finance costs, depreciation and amortization and income taxes. Adjusted EBITDA represents EBITDA excluding certain items, as described under “Earnings Highlights”. 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 (decrease)/ increase in operating assets; (ii) net (increase)/ decrease in operating liabilities; (iii) net interest cost; (iv) amortization and write-off of deferred finance costs and discount; (v) amortization of operating lease assets/ liabilities; (vi) non-cash amortization of deferred revenue and straight line effect of the charters with de-escalating rates; and (vii) (loss)/ gain on sale of vessels. Navios Partners believes that EBITDA and Adjusted EBITDA are each the basis upon which liquidity can be assessed and present 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. We present Adjusted Net Income by excluding items that we do not believe are indicative of our core operating performance. Our presentation of Adjusted Net Income adjusts net income for the items described above under “Earnings Highlights”. The definition of Adjusted Net Income used here may not be comparable to that used by other companies due to differences in methods of calculation. Adjusted Earnings per Common Unit is defined as Adjusted Net Income divided by the weighted average number of common units outstanding for each of the periods presented, basic and diluted. EXHIBIT 4 Navios Maritime Partners L.P. Reconciliation of EBITDA and Adjusted EBITDA to Cash from Operations Three Month Period Ended Three Month Period Ended March 31, 2025 March 31, 2024 ($ ‘000) ($ ‘000) (unaudited) (unaudited)Net cash provided by operating activities $156,552 $94,436 Net (decrease)/ increase in operating assets (7,421) 366 Net (increase)/ decrease in operating liabilities (23,046) 42,983 Net interest cost 30,116 26,013 Amortization and write-off of deferred finance costs and discount (1,672) (1,676)Amortization of operating lease assets/ liabilities 186 791 Non-cash amortization of deferred revenue and straight line (1,177) 1,365 (Loss)/ gain on sale of vessels (5,930) 1,877 EBITDA $147,608 $166,155 Loss/ (gain) on sale of vessels 5,930 (1,877)Adjusted EBITDA $153,538 $164,278 Three Month Period Ended Three Month Period Ended March 31, 2025($ ‘000) March 31, 2024($ ‘000) (unaudited) (unaudited)Net cash provided by operating activities $156,552 $94,436 Net cash used in investing activities $(134,147) $(168,073)Net cash (used in)/ provided by financing activities $(630) $57,292

Navios Maritime Partners L.P. Reports Financial Results for the First Quarter Ended March 31, 2025

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