Navios Maritime Partners L.P.

This Annual Report should be read in conjunction with the consolidated financial statements and accompanying notes included in this report.

Statements included in this annual report which are not historical facts (including our statements concerning plans and objectives of management for future operations or economic performance, or assumptions related thereto) are forward-looking statements. In addition, we and our representatives may from time to time make other oral or written statements which are also forward-looking statements. Such statements include, in particular, statements about our plans, strategies, business prospects, changes and trends in our business, and the markets in which we operate as described in this annual report. In some cases, you can identify the forward-looking statements by the use of words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms or other comparable terminology.

Forward-looking statements appear in a number of places and include statements with respect to, among other things:

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our ability to pay quarterly cash distributions on our common units;

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future levels of operating surplus and levels of distributions, as well as our future cash distribution policy;

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our current and future business and growth strategies and other plans and objectives for future operations;

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our ability to take delivery of, integrate into our fleet, and employ additional vessels, whether secondhand, or any newbuildings we may order in the future;

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future charter hire rates and vessel values;

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the repayment of debt;

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our ability to access debt and equity markets;

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planned capital expenditures and availability of capital resources to fund capital expenditures;

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future supply of, and demand for, liquid and dry cargo commodities;

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volatility in interest rates, including Secured Overnight Financing Rate (“SOFR”);

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our ability to maintain long-term relationships with major commodity traders, oil majors, operators and liner companies;

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our ability to leverage the scale, experience, reputation and relationships of our manager, namely Navios Shipmanagement Inc. and its affiliates.(the “Manager”), which are entities affiliated with the Company’s Chairwoman and Chief Executive Officer.

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our continued ability to enter into long-term, fixed-rate time charters;

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our ability to maximize the use of our vessels, including the re-deployment or disposition of vessels no longer under long-term time charters;

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timely purchases and deliveries of newbuilding vessels;

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future purchase prices of newbuildings and secondhand vessels;

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our ability to compete successfully for future chartering and newbuilding opportunities;

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our future financial condition or results of operations and our future revenues and expenses and required levels of reserves;

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potential liability and costs due to environmental, safety and other incidents involving our vessels;

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our track record, and past and future performance, in safety, environmental and regulatory matters;

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our anticipated incremental general and administrative expenses as a publicly traded limited partnership and our expenses under the management agreement with the Manager and the administrative services agreement with the Manager both effective as of January 1, 2025 (the Master “Management Agreement” and the “Administrative Services Agreement”, respectively) and for reimbursements for fees and costs of our general partner;

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estimated future maintenance and replacement capital expenditures;

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the impact on our stock price of our ongoing stock repurchase program;

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future sales of our common units in the public market;

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the cyclical nature of the international shipping industry;

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fluctuations in charter rates for tanker vessels, drybulk carriers and containerships (“Dry Cargo”);

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the number of newbuildings currently under construction;

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changes in the market values of our vessels and the vessels for which we have purchase options;

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an inability to expand relationships with existing customers and obtain new customers;

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the loss of any customer or charter or vessel;

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the aging of our fleet and resultant increases in operations costs;

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damage to our vessels;

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global economic outlook and growth and changes in general economic and business conditions;

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domestic and international political conditions, including wars, pandemics, terrorism and piracy;

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public health threats;

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increases in costs and expenses, including but not limited to: crew wages, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance and general and administrative expenses;

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the adequacy of our insurance arrangements and our ability to obtain insurance and required certifications;

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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;

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the changes to the regulatory requirements applicable to the shipping industry, including, without limitation, stricter requirements adopted by international organizations, such as the International Maritime Organization (the “IMO”) and the European Union (sometimes referred to as “EU”), or by individual countries or charterers and actions taken by regulatory authorities and governing such areas as safety and environmental compliance;

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the anticipated taxation of our partnership and our unitholders;

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expected demand in the shipping sectors in which we operate in general and the demand for our Drybulk, Container and Tanker vessels in particular;

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our ability to retain key executive officers;

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customers’ increasing emphasis on environmental and safety concerns;

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changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors;

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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

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other factors detailed from time to time in our periodic reports filed with the U.S. Securities and Exchange Commission (the “SEC”).

These and other forward-looking statements are made based upon management’s current plans, expectations, estimates, assumptions and beliefs concerning future events impacting us and therefore involve a number of risks and uncertainties, including those set forth below, as well as those risks discussed in “Item 3. Key Information”.

The risks and assumptions are inherently subject to significant uncertainties and contingencies, many of which are beyond our control and many of which have been and many further be, exacerbated by the continuing Ukrainian and Russian war and Israel and Hamas conflicts, the attacks in the Red Sea and in the Gulf of Aden and the impact they have had on the global economy. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements.

We undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.