Industrial & Construction Conference11 May 2011

Statements in this presentation which are not statements of historical fact are “forward-looking statements” (as such term is defined in Section 21E of theSecurities Exchange Act of 1934, as amended). These forward-looking statements are based on the information available to, and the expectations and

.

Securities Exchange Act of 1934, as amended). These forward looking statements are based on the information available to, and the expectations andassumptions deemed reasonable by, the Company at the time this presentation was made. Although the Company believes that the assumptions underlyingsuch statements are reasonable, it can give no assurance that they will be attained. The Company undertakes no obligation to update any forward-lookingstatements, whether as a result of new information or future events, unless it is required to do so under the securities laws. The Company makes no predictionor statement about the performance of its common units. For the selected financial data presented herein, Navios Partners compiled consolidated statement ofoperations for the fiscal years 2009 and 2010 and the three month periods ended March 31, 2010 and March 31, 2011.

Seasoned Management TeamSeasoned Management TeamAngeliki FrangouChairman & CEO

George AchniotisEVP, Business Development

Stratos DesyprisCFO

Michael McClureEVP, Corporate Affairs

Fred GordonSVP, Corporate Affairs

• 19 years experience • Board Member since • Financial Controller for • Previously CFO since IPO • Over 32 years of• 19 years experience in the shipping industry • Chairman and CEO of Navios Group• Previously founded two private shipping companies

• Board Member since inception CFO of Navios Maritime Holdings since April 2007• PwC partner in charge of shipping practice in Greece• UK Chartered Accountant

• Financial Controller for Navios Maritime Holdings • Served as manager of the audit department at Ernst and Young• 12 years of experience in the accounting

• Previously CFO since IPO • Served as SVP Corporate Affairs since April 2007 and before that CFO from October 2005 to April 2007 of Navios Maritime Holdings • Served as Vice President

• Over 32 years of experience working for shipping and project development companies in business development, strategic planning, finance, chartering and technical p

• 19 years experience in the accounting profession• Joined Navios in 2006

gprofession • Joined Navios in 2006

of Navios Research and Risk Management and Manager of Financial Analysis• Joined Navios in 1978

gcapacities. •Worked for drybulk, tanker, gas, container and reefer ship owners and operators

Other Key Management & Board Members

John KarakadasDirector

Michael SarrisDirector

Shunji SasadaDirector

SerafeimKriempardis

Director

Robert PierotDirector

• Board member since 2007• Chairman and CEO of Singular Logic• Deputy CEO of Marfin Investment Group

• Board member since 2010• Served as Minister of Finance for Cyprus from 2005 to 2008• Prior role at World Bank where responsible for

• 28 years experience • COO – Navios Corp• 16 years experience with Mitsui O.S.K. Lines Ltd, including 6 years with Trinity Bulk carriers (Norway) and

• Board member since December 2009• Served as Head of Shipping of Piraeus Bank• Served as Head of

• Board member since 2007 • Director and Principal of Jacq. Pierot Jr. & Sons Inc. • 31 years of ship

2

• Served on the BoD of IRF and Greek Information Technology Holdings

supervision and design of country strategies for areas of Africa, Latin America and East Asia

Mitsui O.S.K. Bulk Shipping (London)• Joined Navios in 1997

Shipping of Emporiki Bank

brokering experience

Conservative Business PostureLong Term Charter Coverage

• Average charter duration is approx. 4.3 years• Staggered charter-out expirations minimize

charter renewal risk

Conservative Business Posture

Strong Counterparties Strong creditworthy counterparties (Mitsui, Cosco, Rio Tinto, STX Panocean, etc.)

Insured Revenue Stream Charter-out contracts insured by AA+ rated EU Governmental Agency

Steady Increase in Distribution Per Unit

23% increase in distributions in 3 years5% increase since January 2010

Operating Expense Visibility Fixed operating costs until November 2011

Young Growing Fleet• More than doubled fleet capacity since

November 2007 IPO

3

Young, Growing Fleet November 2007 IPO• Fleet age of 5.2 years (1) vs. industry fleet age

of 14.2 years (2)

(1) Navios Maritime Partners fleet age weighted by DWT(2) Source: Drewry’s as of January 2011

Navios Partners Ownership Structure

Common UnitholdersCommon UnitholdersNavios Maritime Holdings Inc.Navios Maritime Holdings Inc.NYSE: NMNYSE: NM

Navios Partners Ownership Structure

100% Membership Interest

73 6% Li it d P t I t t24.4% Limited Partner Interest

Navios GP L.L.C.Navios GP L.L.C.(General Partner)(General Partner)

NYSE: NMNYSE: NM

2.0% General Partner InterestIncentive Distribution Rights

73.6% Limited Partner Interest

Navios Maritime Partners L.P.

100% Membership Interest

NYSE: NMM

16 Dry Bulk Vessels

Navios Maritime Operating L.L.C.Navios Maritime Operating L.L.C.

4

5 Capesize, 10 Panamax and 1 Ultra Handymax Dry Bulk Carriers

Recent DevelopmentsRecent Developments

$90.5 million “overnight” equity raise, completed April 13, 2011• 4,600,000 common units issued at $19.68 per unit including overallotment of

600,000 units exercised by underwriters• $1.8 million from 93,878 additional general partnership units issued to GP

Navios Melodia• 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 fan interim suspension period the sub-charterer of Navios Melodia will pay us directly.

Affirmation of charter has been approved by the South Korean Court

Navios ApollonNavios Apollon• Following an engine breakdown the vessel was off hire in March 2011 and remains

off-hire

5

Multiple Avenues of Distribution GrowthMultiple Avenues of Distribution GrowthSince IPO: 23% Distribution increase

170% Operational Fleet Capacity increase170% Operational Fleet Capacity increase

Exercising Purchase Options

Opportunities in the Dry Bulk S&P Market

Growth Through Navios Holdings Opt o s y u S& a eta os o d gs

Controlled Vessels

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

• Vessel values have fallen significantly from 2008 highs

• Right to purchase Capesize and Panamax vessels on 3+ year charters

Sagittarius in Q1 2010• Purchase options on

Navios Prosperity (2012) and Navios Aldebaran (2013)

• Sale and purchases of dry bulk vessels

• Highly fragmented industry

• Dropdown candidates feature known vessels and charterers along with credit risk insurance

• Navios Group has grown to a controlled fleet of 73 dry bulk and 22 tanker vessels

May 2011November 2007 IPO +170%(1)

6

May 20111,689,686 DWT

November 2007 IPO626,100 DWT +170%(1)

(1) Includes owned and chartered-in tonnage

Portfolio of Industry Leading CharterersPortfolio of Industry Leading CharterersAA+ Rated EU Governmental Agency insurance on charters-out

R b Ch tR i i Ch t D ti

MOSK, 11.1%Korea Line, 14.5%

Vitol Group, 1.5%1-3 years3 6

Average Charter Duration: 4.3 yearsRevenues by ChartererRemaining Charter Duration

*

Rio Tinto, 6.5%

Constellation Energy Group, 8.7%

Arcelor Mittal , 2.1%

30%

3-6 years6-10 years

Rio Tinto, 6.5%

Sanko, 4.8%

Augustea, 3.2%Daiichi, 1.5%

STX Pan Ocean, 15.2%60%10%

, %

Cosco, 15.3%Samsun Logix, 15.5%

70% of contracted revenue secured by charters running longer than 3 years

Diversified customer base with strong creditworthy counterparties

7

charters running longer than 3 years strong creditworthy counterparties

* 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 will pay us directly

Staggered Charter Expirations(1)

Apollon

Libra II

Prosperity

Staggered Charter Expirations$24,000 Jul 2012

$23,700 Nov 2012

Average Age of Navios Partners’ Fleet(2): 5.2 years

Average Age of Dry Bulk Industry Fleet(3): 14.2 years$18,525 Nov 2012

(4)

Alegria

Hope

Felicity

Aldebaran

$16,984(5) Feb 2014

$28,391 Mar 2013

$26,169 Jun 2013

$17,562 Aug 2013

Fulvia

Hyperion

Fantastiks

Gemini S

Alegria ,

$32,279 $36,290 Feb 2014

$24,225 Feb 2014

$37,953 Apr 2014

$50 588 Sept 2015

A II

Pollux

Sagittarius

Galaxy I

Fulvia

$21,937 Feb 2018

$26,125 Nov 2018$42,250 Jul 2019

$50,588 Sept 2015

(1) Per day, net of commission(2) Navios Partners fleet age weighted by DWT

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Melodia

Aurora II $41,325 Nov 2019

$29,356(7) Sep 2022 (6)

(2) Navios Partners fleet age weighted by DWT (3) Source: Drewry Shpping Consultants , January 2011(4) Following an engine breakdown the vessel was off hire in March 2011 and remains off-hire(5) 50/50 profit sharing above $16,984 per day based on Panamax TC Avg(6) 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 will pay us directly(7) 50/50 profit sharing above $37,500 per day based on BCI TC Avg

8

First Quarter March 31 2011 EarningsFirst Quarter March 31, 2011 Earnings Highlights

Earnings HighlightsEarnings Highlights(in $ million) except active vessels and available days

Three months ended Mar 31, 2011

Three months ended Mar 31, 2010

Y-O-Y Variance

Time charter and voyage revenue 42.8 29.4 45.6%

Net Income 16 6 12 6 31 7%Net Income 16.6 12.6 31.7%

EBITDA 32.4 21.3 52.1%

Operating Surplus 26.5 16.9 56.8%

Replacement Capex Reserve 4.3 3.3 30.3%

Active Vessels 16 13 23.1%

Available Days 1,407 1,081 30.2%

EBITDA represents net income plus interest and finance costs plus depreciation and amortization and income taxes, if any, unless otherwise stated. EBITDA is included because it is used by certain investors to measure a company's financial performance. 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. Navios Partners believes EBITDA provides additional information with respect to Navios Partners’ ability to satisfy its obligations including debt service, capital expenditures, working capital requirements and determination of dividends. While EBITDA is frequently used as a measure of operating

9

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.

Balance SheetBalance SheetSelected Balance Sheet Data (in $ million)

March 31, 2011 December 31, 2010

C & (1) $ $Cash & cash equivalents (1) $54.2 $52.1

Other current assets 5.2 3.5

Vessels, net 605.1 612.4

Total Assets 830.0 841.0Total Assets

Deferred revenue, current 9.3 10.6

Other current liabilities 10.9 5.7

Long term debt, current portion 29.2 29.2

Long term debt 285.0 292.3

Total partners capital 486.2 491.5

Total liabilities & partners’ capital 830.0 841.0

Net Debt / Asset Value (charter attached) (2) 33.4% 32.3%

Accumulated Replacement Capex Reserve 37.9 33.6

10

(1) Includes restricted cash(2) Considers Clarksons’ charter attached values of owned vessels and chartered-in vessels (less the exercise values) as of March 31, 2011

Q1 2011 Cash DistributionQ1 2011 Cash Distribution

Cash Distribution of $0.43 per unit for Q1 2011 ($1.72 annualized)Cash Distribution of $0.43 per unit for Q1 2011 ($1.72 annualized)Record Date: May 5, 2011Payment Date: May 11, 2011

Operating Surplus: $26 5 millionOperating Surplus: $26.5 millionCommon Unit Coverage: 1.33xTotal Unit Coverage: 1.11x

Distribution: $23.9 million• $19.9 million to Common Units• $4.0 million to GP & Subordinated Units

11

Significant Growth: Distribution &Significant Growth: Distribution & Operating Metrics

Di id d Di t ib ti T dDividend Distribution Trend

Q1 2011 $0.43

Q4 2010 $0.43

Q3 2010 $0 42

Significant Growth in Key Operating Metrics

35Q3 2010 $0.42

Q2 2010 $0.42

Q1 2010 $0.415

Q4 2009 $0.41 25

30EBITDA

Operating Surplus

N t IQ3 2009 $0.41

Q2 2009 $0.405

Q1 2009 $0.40

Q4 2008 $0.40 10

15

20Net Income

Q $

Q3 2008 $0.385

Q2 2008 $0.35

Q1 2008 $0.35C t A li d Yi ld 8 6%

0

5

10

1212

Current Annualized Yield: 8.6% (At May 9, 2011 closing price)Annual Distribution Run Rate = $1.72(As of May 9, 2011)

Q12008

Q22008

Q32008

Q42008

Q12009

Q22009

Q32009

Q42009

Q12010

Q22010

Q32010

Q42010

Q12011

Emerging Economies Leading WorldEmerging Economies Leading World Expansion and Driving Dry Bulk Demand

Contributions to World GrowthGrowth

404550

Contributions to World GrowthSource IMF World Economic Outlook April 2011

Purchasing Power Parity Percentages 3 Yr Moving Averages

Forecast

160

170

180

GrowthGDP rebased ‐ 1Q2005 = 100 Forecast

152025303540

Percen

t

130

140

150

05

105

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

2014

2016

China United States

100

110

120

2005 2006 2007 2008 2009 2010 2011 2012

World to grow 4.4% and emerging economies to grow 6.5% this year. Advanced economies may

Growth in China and Rest of World contributes more to world growth than the Advanced

China United StatesOther Adv Economies Rest of WorldAdvanced Emerging

1313

g y yexceed 2008 peak this year; emerging economies

grew by 13.5% since then.

Source: IMF / WEO April 2011

gEconomies, changing trading patterns and

increasing ton miles

World Dry Bulk Trade 1980 - 2011World Dry Bulk Trade 1980 - 2011

4,000China admitted

Upside:

India

3,000

3,500

5.5%

China admitted to the WTO

B li ll f ll

2 000

2,500

illio

n To

ns)

2.8%

Berlin wall falls

1,500

2,000

Trad

e (M 1.1%

500

1,000

14

01980 1984 1988 1992 1996 2000 2004 2008

Source: Drewry Shipping Consultants Ltd.

Chinese Urbanization and Steel ProductionChinese Urbanization and Steel Production

S. Korea

Japan

China

IndiaBrazil

Million tons

Iron OreSteel Production

Domestic Production Imports2006 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%

1515

2010 1,065 22% 619 -2% 626 10%

Mar 2011 YTD 241 18% 177 14% 174 10%

Sources: McKinsey Global Institute, KChan U Washington, UBS, National Bureau of Statistics of China/Mysteel

Growth in Indian Urbanization Leads toGrowth in Indian Urbanization Leads to Increasing Coal Consumption

120

140Indian Coal Imports

2006 - 2011 CAGR = 26%

80

100

120

40

60

80

0

20

40

1616

02006 2007 2008 2009 2010E 2011F

Sources: Times of India, India Today, Clarksons, March 2011

Scrapping DynamicsScrapping DynamicsAging Fleet + Restricted Credit + High Scrap Price = Accelerated Scrapping(1)

• Average scrapping from 2000 – 2010 ≈ 1.2% of fleet DWT/ year

Bulk Carrier Demolition(1)

Year Total Demolition

Demo as % of Fleet• 2009 scrapping ≈ 2.4% of fleet DWT (10.0 million DWT)

• 2010 scrapping ≈ 1.3% of fleet DWT (5.8 million DWT)• 2011 scrapping ≈ 1.3% of fleet DWT through 4/18/2011

- Projected ≈ 3.8% of scrapping for 2011 (21M DWT)

• 2009 total dry bulk fleet ≈ 459.2 million DWT - Non delivery ≈ 40%

Demolition (m dwt)

of Fleet

2000 4.5 1.60%

2001 8.1 2.80%y y• 2010 total dry bulk fleet ≈ 535.1 million DWT - Non delivery ≈ 38%

- 2011 – Non deliveries ≈ 46% April 2011 preliminary• Net fleet growth from end 2008 – end 2009 = 9.8%• Net fleet growth from end 2009 – end 2010 = 16.5%

2002 6.0 2.00%

2003 4.1 1.40%

2004 0.3 0.10%

7 4%20.0%

30.0%

Dry Bulk Industry Age Profile(2)

(% DWT)

20+ Years

2005 0.9 0.30%

2006 1.8 0.50%

2007 0.4 0.10%

2008 5 0 1 20%

14.6%

7.4%

0.0%

10.0%

Total Dry Bulk Fleet

20+ Years25+ Years

22.0%(122m dwt)

2008 5.0 1.20%

2009 10.0 2.37%

2010 5.8 1.26%

Through 7.1 1.32%

1717

(1) Source: Clarksons(2) Source: SSY Dry Bulk Forecaster, April 2011

g5/6/2011

Dry Bulk OrderbookDry Bulk OrderbookActual & Non-Deliveries

2011 • April 2011: 50.6M DWT projected; 27.2M actual DWT delivered (46% non-delivery by DWT) (preliminary)• 310 actual deliveries, 630 newbuilds projected (51% non-delivery by # of vessels)

2010 • 125.6M 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 3M DWT projected 43 1 million actual DWT delivered (40% non delivery by DWT)

125.6137.3

120

140

2009 • 71.3M 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)

WT

Actual non-delivery47 7 d t

Before non-delivery

77.9

101.1

60

80

100

Mill

ion

DW

Actualnon-

delivery 28 2 dwt

47.7 dwtBefore non-delivery

Orderbook 2010

Orderbook 2009

43.1

20

40

60 28.2 dwt

2009 2010 2010 2011 2012

Orderbook 2011

Orderbook 2012

1818

0As of January 2010 As of Dec 31, 2010 As of Dec 31, 2010

Source: Clarksons as of May 6, 2011Orderbook by year of delivery

Baltic Exchange Dry Index* 2002 – 2011Baltic Exchange Dry Index 2002 – 2011BDI 2002 up-to-date

BDI October 2008 up-to-date

* As of 05/06/2011 19

SummaryLong Term Charter Coverage

• Average charter duration is approx. 4.3 years• Staggered charter-out expirations minimize

charter renewal risk

Summary

Strong Counterparties Strong creditworthy counterparties (Mitsui, Cosco, Rio Tinto, STX Panocean, etc.)

Insured Revenue Stream Charter-out contracts insured by AA+ rated EU Governmental Agency

Steady Increase in Distribution Per Unit

23% increase in distributions in 3 years5% increase since January 2010

Operating Expense Visibility Fixed operating costs until November 2011

Young Growing Fleet• More than doubled fleet capacity since

November 2007 IPO

20

Young, Growing Fleet November 2007 IPO• Fleet age of 5.2 years (1) vs. industry fleet age

of 14.2 years (2)

(1) Navios Maritime Partners fleet age weighted by DWT(2) Source: Drewry’s as of January 2011

www.navios-mlp.com

Appendix: Navios Partners FleetAppendix: Navios Partners FleetOwned Vessels

Vessels Type Built DWT Charter Rate ($)(1) Expiration Date(2) DropdownNavios Apollon (3) Ultra-Handymax 2000 52,073 23,700 11/08/2012 YesNavios Gemini S Panamax 1994 68,636 24,225 02/08/2014Navio Libra II Panamax 1995 70,136 18,525 11/15/2012Navios Felicity Panamax 1997 73,867 26,169 06/09/2013Navios Galaxy I Panamax 2001 74,195 21,937 02/03/2018Navios Hyperion Panamax 2004 75,707 37,953 04/01/2014 YesNavios Alegria Panamax 2004 76,466 16,984(4) 02/25/2014Navios Hope Panamax 2005 75 397 17 562 08/16/2013 YesNavios Hope Panamax 2005 75,397 17,562 08/16/2013 YesNavios Sagittarius Panamax 2006 75,756 26,125 11/19/2018 YesNavios Fantastiks Capesize 2005 180,265 36,290 02/26/2014Navios Aurora II Capesize 2009 169,031 41,325 11/24/2019 YesNavios Pollux Capesize 2009 180,727 42,250 07/27/2019 YesNavios Fulvia Capesize 2010 179,263 50,588 09/30/2015 YesNavios Melodia (5) Capesize 2010 179,132 29,356(6) 09/19/2022 YesTotal – 14 Vessels 1,530,651

Long-Term Chartered-In VesselsVessels Type Built DWT Charter Rate ($)(1) Expiration Date(2) Purchase Option DropdownNavios Prosperity Panamax 2007 82,535 24,000 07/4/2012 YesNavios Aldebaran Panamax 2008 76,500 28,391 03/16/2013 YesTotal – 2 Vessels 159,035

Total Fleet – 16 Vessels 1,689,686 DWT

22

(1) Daily charter-out rate net of commissions(2) Assumed midpoint of redelivery by charterers(3) Following an engine breakdown the vessel was off hire in March 2011 and remains off-hire(4) Profit sharing 50% above $16,984/day based on Baltic Panamax TC Avg(5) 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 will pay us directly(6) Profit sharing 50% above $37,500/day based on Baltic Exchange Capesize TC Average