• Net income:
    • $185.7 million for Q3 2026
    • $459.9 million for 9M 2026
  • Earnings per common unit:
    • $6.42 for Q3 2026
    • $15.83 for 9M 2026
  • Net cash from operating activities:
    • $235.4 million for Q3 2026
    • $548.7 million for 9M 2026
  • EBITDA:
    • $293.9 million for Q3 2026
    • $781.7 million for 9M 2026
  • Returning capital to unitholders:
    • 141,392 common units repurchased in Q3 2026 for $12.0 million
    • $0.06 cash distribution per unit for Q3 2026; $0.24 per unit annualized for 2026
  • Sales and purchases in Q3 – Q4 2026 QTD:
    • $703.2 million acquisition cost of seven newbuilding vessels
    • $30.8 million gross sale price for one capesize vessel; age of 17 years
    • Two newbuilding vessels delivered
  • $5.0 billion contracted revenue as of October 2026

PIRAEUS, Greece, Nov. 04, 2026 (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 third quarter and nine month period ended September 30, 2026.

Angeliki Frangou, Chairwoman and Chief Executive Officer of Navios Partners stated, “For the third quarter, we reported net income of $185.7 million and earnings per common unit of $6.42.  For the first nine months, we reported net income of $459.9 million and earnings per common unit of $15.83. We also announced a $0.06 distribution per unit for the quarter.”

Angeliki Frangou continued, “We are operating in a complex global environment, characterized by geopolitical uncertainty, conflict and changing trade patterns. Our financial and operating performance demonstrates the strength of our diversified business and the benefits of our disciplined approach to capital allocation and risk management. We have used our strong cash flow not only to add vessels to our fleet in an accretive manner, but also to accelerate repayment of debt while returning capital to our unitholders through unit repurchases and distributions.”

Common unit repurchases

Since the commencement of its initial common unit repurchase program in 2024, Navios Partners has repurchased, through October 26, 2026, an aggregate of 2,009,616 common units for cash consideration of approximately $104.4 million, of which 141,392 common units were repurchased during the third quarter of 2026 for $12.0 million. As of October 26, 2026, there were 28,174,772 common units outstanding.

Cash distribution

The Board of Directors of Navios Partners declared a cash distribution for the third quarter of 2026 of $0.06 per unit. The cash distribution will be paid on November 12, 2026 to unitholders of record as of November 9, 2026. The declaration and payment of any cash distributions 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 Q3 – Q4 2026 QTD

  • $703.2 million acquisition cost of seven newbuilding vessels
    • $488.0 million acquisition cost of four newbuilding scrubber/shore-power-fitted 10,100 TEU containerships

In September 2026, Navios Partners agreed to acquire four newbuilding scrubber/shore-power-fitted 10,100 TEU containerships from an unrelated third party for an aggregate purchase price of $488.0 million. The vessels have been chartered-out for a period of 5.6 years at an average rate of $48,263 net per day and are expected to be delivered into Navios Partners’ fleet during the second half of 2028 and the first half of 2029. The closing of the transaction is subject to completion of customary documentation.

    • $124.0 million acquisition cost of one newbuilding scrubber-fitted VLCC tanker

In October 2026, Navios Partners agreed to acquire one newbuilding scrubber-fitted VLCC tanker from an unrelated third party for a purchase price of $124.0 million. The vessel is expected to be delivered into Navios Partners’ fleet during the second half of 2029. The closing of the transaction is subject to completion of customary documentation.

    • $91.2 million acquisition cost of two newbuilding scrubber-fitted MR2 product tankers

In September 2026, Navios Partners agreed to acquire two newbuilding scrubber-fitted MR2 product tankers from an unrelated third party for an aggregate purchase price of $91.2 million. The vessels are expected to be delivered into Navios Partners’ fleet during the second half of 2029. The closing of the transaction is subject to completion of customary documentation.

  • $30.8 million gross sale price for one capesize vessel

In August 2026, Navios Partners agreed to sell one 2009-built capesize vessel of 180,727 dwt with an age of 17 years to an unrelated third party for a gross sale price of $30.8 million. The sale was completed in October 2026.

  • Two newbuilding vessels delivered

In September 2026, Navios Partners took delivery of a 2026-built methanol-ready MR2 product tanker of 49,998 dwt, which has been chartered-out at a rate of $23,400 net per day for a period of about five years.

In September 2026, Navios Partners took delivery of a 2026-built methanol-ready and scrubber-fitted 7,900 TEU containership, which has been chartered-out at a rate of $42,463 net per day for a period of about four years.

  • $735.1 million additional contracted revenue agreed; $5.0 billion total contracted revenue

Navios Partners has entered into additional long-term charters which are expected to generate revenue of $735.1 million.

    • Eight containerships have been chartered-out for an average period of 4.2 years at an average rate of $43,457 net per day.
    • Four tankers have been chartered-out for an average period of 3.5 years at an average rate of $28,050 net per day.
    • Two dry bulk vessels have been chartered-out for an average period of 3.1 years at an average rate of $23,412 net per day (assuming floor rate on one newbuilding vessel).

Including the above long-term charters, Navios Partners currently has $5.0 billion contracted revenue through 2037.

Financing update

In October 2026, Navios Partners entered into a new credit facility with a commercial bank for a total amount of up to $90.4 million in order to finance part of the acquisition cost of two newbuilding aframax/LR2 tankers, currently under construction. The facility matures seven years after the delivery date of each vessel and bears interest at Term Secured Overnight Financing Rate (“Term SOFR”) plus 40 bps per annum for any part of the loan secured by cash collateral and 130 bps per annum for the remaining loan amount.

In September 2026, Navios Partners completed a $45.9 million sale and leaseback agreement with an unrelated third party in order to finance part of the acquisition cost of one newbuilding aframax/LR2 tanker, currently under construction. The sale and leaseback agreement matures seven years after the delivery date of the vessel and bears interest at Term SOFR plus 150 bps per annum.

During the third quarter of 2026, Navios Partners made approximately $90.2 million of voluntary prepayments of credit facilities maturing from 2028 through 2030, resulting in seven debt-free vessels.

Operating highlights

Navios Partners owns and operates a fleet consisting of 65 dry bulk vessels, 54 containerships and 63 tankers, including three newbuilding capesize vessels (chartered-in vessels under bareboat contracts) that are expected to be delivered in the second half of 2028 and during 2029, ten newbuilding containerships (two 7,900 TEU containerships, four 8,850 TEU containerships and four 10,100 TEU containerships) that are expected to be delivered through the first half of 2029 and 21 newbuilding tankers (eight VLCC tankers, eight aframax/LR2 and five MR2 product tanker vessels, of which three are chartered-in vessels under bareboat contracts) that are expected to be delivered through 2029. The fleet excludes a 4,730 TEU containership that has been agreed to be sold.

As of October 26, 2026, Navios Partners had entered into short, medium and long-term time charter-out, bareboat-out and freight voyage agreements for its vessels with a remaining average term of 2.5 years. Navios Partners has fixed 80.2% and 56.5% of its available days for the fourth quarter of 2026 and for all of 2027, respectively. Navios Partners expects contracted revenue of $349.3 million and $968.9 million for the fourth quarter of 2026 and for all of 2027, respectively. The average expected daily charter-out rate for the fleet is $31,837 and $29,605 for the fourth quarter of 2026 and for all of 2027, respectively.

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 and nine month periods ended September 30, 2026 and 2025. 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”).

         
(in $‘000 except per unit data)
Three Month Period Ended Three Month Period Ended Nine Month Period Ended Nine Month Period Ended 
September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 
(unaudited) (unaudited) (unaudited) (unaudited) 
Revenue$431,964 $346,923 $1,199,137 $978,593 
Net Income$185,658 $56,332 $459,921 $168,006 
Adjusted Net Income$163,745(1)$83,702(3)$396,472(4)$195,705(6)
Net cash provided by operating activities$235,393 $103,077 $548,682 $381,257 
EBITDA$293,870 $193,947 $781,717 $519,791 
Adjusted EBITDA$271,957(1)$194,040(2)$718,268(4)$520,213(5)
Earnings per Common Unit basic$6.42 $1.90 $15.83 $5.62 
Earnings per Common Unit diluted$6.42 $1.90 $15.83 $5.62 
Adjusted Earnings per Common Unit basic$5.66(1)$2.83(3)$13.64(4)$6.56(6)
Adjusted Earnings per Common Unit diluted$5.66(1)$2.83(3)$13.64(4)$6.56(6)


(1)Adjusted Net Income, Adjusted EBITDA and Adjusted Earnings per Common Unit basic and diluted for the three month period ended September 30, 2026 have been adjusted to exclude a $21.9 million gain related to the sale of our vessels.
(2)Adjusted EBITDA for the three month period ended September 30, 2025 has been adjusted to exclude a $0.1 million net loss related to the sale of our vessels.
(3)Adjusted Net Income and Adjusted Earnings per Common Unit basic and diluted for the three month period ended September 30, 2025 have been adjusted to exclude the item referred to in footnote (2) above, as well as a $27.3 million accelerated amortization of favorable lease terms resulting from the termination of contracts for two vessels.
(4)Adjusted Net Income, Adjusted EBITDA and Adjusted Earnings per Common Unit basic and diluted for the nine month period ended September 30, 2026 have been adjusted to exclude a $63.4 million net gain related to the sale of our vessels.
(5)Adjusted EBITDA for the nine month period ended September 30, 2025 has been adjusted to exclude a $0.4 million net loss related to the sale of our vessels.
(6)Adjusted Net Income and Adjusted Earnings per Common Unit basic and diluted for the nine month period ended September 30, 2025 have been adjusted to exclude the item referred to in footnote (5) above, as well as a $27.3 million accelerated amortization of favorable lease terms resulting from the termination of contracts for two vessels.


Three month periods ended September 30, 2026 and 2025

Time charter and voyage revenues for the three month period ended September 30, 2026 increased by $85.1 million, or 24.5%, to $432.0 million, as compared to $346.9 million for the same period in 2025. The increase in revenue was mainly attributable to the increase in the Time Charter Equivalent (“TCE”) rate. For the three month periods ended September 30, 2026 and 2025, time charter and voyage revenues were positively affected by $2.2 million and $6.3 million, respectively, relating to the straight line effect of the charters with de-escalating rates. The TCE rate increased by 25.7% to $30,371 per day, as compared to $24,167 per day for the same period in 2025. The available days of the fleet slightly increased by 0.3% to 13,479 days for the three month period ended September 30, 2026, as compared to 13,443 days for the same period in 2025.

EBITDA of Navios Partners for the three month periods ended September 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $78.0 million to $272.0 million for the three month period ended September 30, 2026, as compared to $194.0 million for the same period in 2025. The increase in Adjusted EBITDA was due to an $85.1 million increase in time charter and voyage revenues. The above increase was partially mitigated by a: (i) $3.4 million increase in vessel operating expenses due to a 7.7% increase in the opex daily rate to $7,320, primarily attributable to higher maintenance, repair and spares expenses, partially mitigated by a 3.8% decrease in the opex days; (ii) $1.3 million increase in time charter and voyage expenses; (iii) $1.2 million increase in other expense, net; and (iv) $1.2 million increase in general and administrative expenses.

Net Income for the three month periods ended September 30, 2026 and 2025 was affected by the items described in the table above. Excluding these items, Adjusted Net Income increased by $80.0 million to $163.7 million for the three month period ended September 30, 2026, as compared to $83.7 million for the same period in 2025. The increase in Adjusted Net Income was due to a: (i) $78.0 million increase in Adjusted EBITDA; (ii) $4.8 million decrease in interest expense and finance cost, net; and (iii) $1.6 million increase in interest income. The above increase was partially mitigated by a: (i) $2.9 million decrease in amortization of unfavorable lease terms; and (ii) $1.5 million increase in depreciation and amortization.

Nine month periods ended September 30, 2026 and 2025

Time charter and voyage revenues for the nine month period ended September 30, 2026 increased by $220.5 million, or 22.5%, to $1,199.1 million, as compared to $978.6 million for the same period in 2025. The increase in revenue was mainly attributable to the increase in the TCE rate. For the nine month periods ended September 30, 2026 and 2025, time charter and voyage revenues were positively affected by $12.5 million and $10.1 million, respectively, relating to the straight line effect of the charters with de-escalating rates. The TCE rate increased by 23.6% to $28,209 per day, as compared to $22,825 per day for the same period in 2025. The available days of the fleet decreased by 1.4% to 39,735 days for the nine month period ended September 30, 2026, as compared to 40,287 days for the same period in 2025.

EBITDA of Navios Partners for the nine month periods ended September 30, 2026 and 2025 was affected by the item described in the table above. Excluding this item, Adjusted EBITDA increased by $198.1 million to $718.3 million for the nine month period ended September 30, 2026, as compared to $520.2 million for the same period in 2025. The increase in Adjusted EBITDA was due to a $220.5 million increase in time charter and voyage revenues. The above increase was partially mitigated by a: (i) $16.6 million increase in time charter and voyage expenses, primarily reflecting additional insurance premiums, reimbursed by charterers; (ii) $4.0 million increase in general and administrative expenses, mainly due to the higher euro-dollar exchange rate prevailing during the nine month period ended September 30, 2026, as well as the increase in legal and professional fees, audit fees and other administrative expenses; (iii) $1.7 million increase in vessel operating expenses due to a 3.8% increase in the opex daily rate to $7,223, primarily attributable to higher maintenance, repair and spares expenses, partially mitigated by a 3.1% decrease in the opex days; and (iv) $0.1 million increase in other expense, net.

Net Income for the nine month periods ended September 30, 2026 and 2025 was affected by the items described in the table above. Excluding these items, Adjusted Net Income increased by $200.8 million to $396.5 million for the nine month period ended September 30, 2026, as compared to $195.7 million for the same period in 2025. The increase in Adjusted Net Income was primarily due to: (i) a $198.1 million increase in Adjusted EBITDA; (ii) an $11.8 million decrease in interest expense and finance cost, net; and (iii) a $2.6 million increase in interest income. The above increase was partially mitigated by a: (i) $6.6 million increase in depreciation and amortization; and (ii) $5.1 million decrease in amortization of unfavorable lease terms.

Fleet Employment Profile

The following table reflects certain key indicators of Navios Partners’ core fleet performance for the three and nine month periods ended September 30, 2026 and 2025.  

 Three Month Period Ended Three Month Period Ended Nine Month Period Ended Nine Month Period Ended
 September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025
 (unaudited) (unaudited) (unaudited) (unaudited)
Available Days(1) 13,479   13,443   39,735   40,287 
Operating Days(2) 13,380   13,331   39,484   39,976 
Fleet Utilization(3) 99.3%  99.2%  99.4%  99.2%
Opex Days(4) 13,458   13,994   40,018   41,283 
TCE rate Combined (per day)(5)$30,371  $24,167  $28,209  $22,825 
TCE rate Dry Bulk (per day)(5)$25,708  $17,976  $22,332  $15,369 
TCE rate Containerships (per day)(5)$31,619  $31,832  $31,504  $31,213 
TCE rate Tankers (per day)(5)$36,183  $26,238  $33,897  $26,290 
Opex rate Combined (per day)(6)$7,320  $6,798  $7,223  $6,961 
Vessels operating at period end 150   152   150   152 


(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)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 number of days that its vessels were off-hire for reasons other than scheduled repairs, drydockings or special surveys.
(4)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.
(5)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 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, November 4, 2026 to discuss the results for the third quarter and nine months ended September 30, 2026.

Call Date/Time: Wednesday, November 4, 2026 at 8:30 am ET
Call Title: Navios Partners Q3 2026 Financial Results Conference Call 
US Dial In: +1.800.445.7795
International Dial In: +1.785.424.1699
Conference ID: NMMQ326

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: +1.800.695.2533
International Replay Dial In: +1.402.530.9029

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, the common unit repurchase program, 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, continuing issues related to seaborne volume and ton miles and the impact of tariffs, the adequacy of our insurance arrangements and our ability to obtain insurance and required certifications, 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, the repayment of debt and servicing of our bonds, fluctuations 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-F and Form 6-K. Navios Partners expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Partners’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Partners makes no prediction or statement about the performance of its common units.

Contacts

Navios Maritime Partners L.P.
+1.212.906.8645
Investors@navios-mlp.com 

Nicolas Bornozis
Capital Link, Inc.
naviospartners@capitallink.com

     
EXHIBIT 1    
NAVIOS MARITIME PARTNERS L.P.
SELECTED BALANCE SHEET DATA
(Expressed in thousands of U.S. Dollars)
     
  September 30,
2026
(unaudited)		 December 31,
2025
(unaudited)
ASSETS      
Cash and cash equivalents, including restricted cash and time deposits over three months(1) $508,353 $413,452
Other current assets  132,280  98,600
Total current assets  640,633  512,052
Vessels, net  4,714,760  4,389,868
Other non-current assets  1,064,932  1,027,066
Total non-current assets  5,779,692  5,416,934
Total assets $6,420,325 $5,928,986
       
LIABILITIES AND PARTNERS’ CAPITAL      
Other current liabilities $188,905 $177,781
Current portion of borrowings, net  207,084  277,365
Total current liabilities  395,989  455,146
Senior unsecured bonds, net  325,168  294,392
Non-current portion of borrowings, net  1,714,592  1,587,829
Other non-current liabilities  217,521  250,873
Total non-current liabilities  2,257,281  2,133,094
Total liabilities $2,653,270 $2,588,240
Total partners’ capital  3,767,055  3,340,746
Total liabilities and partners’ capital $6,420,325 $5,928,986


(1)Includes time deposits with duration over three months of $145.0 million and $10.5 million as of September 30, 2026 and December 31, 2025, 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 Ended Three Month Period Ended Nine Month Period Ended Nine Month Period Ended
  September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025
  (unaudited) (unaudited) (unaudited) (unaudited)
Time charter and voyage revenues $431,964  $346,923  $1,199,137  $978,593 
Time charter and voyage expenses  (33,965)  (32,652)  (110,516)  (93,884)
Vessel operating expenses (including management fees)  (98,514)  (95,135)  (289,060)  (287,381)
General and administrative expenses  (24,250)  (23,059)  (72,482)  (68,453)
Depreciation and amortization  (83,155)  (109,041)  (247,767)  (268,471)
Amortization of unfavorable lease terms  —   2,944   3,586   8,736 
Gain/ (loss) on sale of vessels, net  21,913   (93)  63,449   (422)
Interest expense and finance cost, net  (29,949)  (34,732)  (89,869)  (101,727)
Interest income  4,892   3,214   12,254   9,677 
Other expense, net  (3,278)  (2,037)  (8,811)  (8,662)
Net income $185,658  $56,332  $459,921  $168,006 


         
Earnings per unit:
    
  Three Month Period Ended Three Month Period Ended Nine Month Period Ended Nine Month Period Ended
September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025
  (unaudited) (unaudited) (unaudited) (unaudited)
Earnings per unit:            
Earnings per common unit, basic $6.42 $1.90 $15.83 $5.62
Earnings per common unit, diluted $6.42 $1.90 $15.83 $5.62


     
NAVIOS MARITIME PARTNERS L.P.
Other Financial Information
(Expressed in thousands of U.S. Dollars)
     
  Nine Month
Period Ended
September 30, 2026		 Nine Month
Period Ended
September 30, 2025
  (unaudited) (unaudited)
Net cash provided by operating activities $548,682  $381,257 
Net cash used in investing activities $(613,575) $(338,660)
Net cash provided by financing activities $25,277  $18,699 
(Decrease)/ increase in cash, cash equivalents and restricted cash $(39,616) $61,296 


       
EXHIBIT 2
      
Owned Dry Bulk Vessels Type Built Capacity
(DWT)
Navios Christine B Ultra-Handymax 2009 58,058
Navios Celestial Ultra-Handymax 2009 58,063
Navios Venus Ultra-Handymax 2015 61,339
Navios La Paix Ultra-Handymax 2014 61,485
Navios Victory Panamax 2014 77,095
Rainbow N Panamax 2011 79,602
Unity N Panamax 2011 79,642
Odysseus N Panamax 2011 79,642
Navios Amber Kamsarmax 2015 80,909
Navios Avior Kamsarmax 2012 81,355
Navios Centaurus Kamsarmax 2012 81,472
Navios Citrine Kamsarmax 2017 81,626
Navios Dolphin Kamsarmax 2017 81,630
Navios Horizon I Kamsarmax 2019 81,692
Navios Galaxy II Kamsarmax 2020 81,789
Navios Uranus Kamsarmax 2019 81,821
Navios Felicity I Kamsarmax 2020 81,962
Navios Primavera Kamsarmax 2022 82,003
Navios Meridian Kamsarmax 2023 82,010
Navios Herakles I Kamsarmax 2019 82,036
Navios Magellan II Kamsarmax 2020 82,037
Navios Sky Kamsarmax 2015 82,056
Navios Alegria Kamsarmax 2016 84,852
Navios Sphera Kamsarmax 2016 84,872
Navios Coral Kamsarmax 2016 84,904
Navios Stellar Capesize 2009 168,818
Navios Antares Capesize 2010 168,876
Navios Aurora II Capesize 2009 169,031
Navios Symphony Capesize 2010 177,960
Navios Ace Capesize 2011 178,929
Navios Buena Ventura Capesize 2010 178,953
Navios Aster Capesize 2010 178,978
Navios Melodia Capesize 2010 178,982
Navios Luz Capesize 2010 178,989
Navios Azimuth Capesize 2011 179,013
Navios Etoile Capesize 2010 179,048
Navios Bonheur Capesize 2010 179,049
Navios Fulvia Capesize 2010 179,077
Navios Altamira Capesize 2011 179,145
Navios Ray Capesize 2012 179,515
Navios Happiness Capesize 2009 180,022
Navios Bonavis Capesize 2009 180,022
Navios Fantastiks Capesize 2005 180,055
Navios Phoenix Capesize 2009 180,060
Navios Sol Capesize 2009 180,274
Navios Lumen Capesize 2009 180,493
Navios Canary Capesize 2015 180,528
Navios Corali Capesize 2015 181,088
Navios Gem Capesize 2014 181,206
Navios Joy Capesize 2013 181,215
Navios Felix Capesize 2016 181,221
Navios Mars Capesize 2016 181,259
Navios Koyo Capesize 2011 181,415
Navios Azalea Capesize 2022 182,064
Navios Armonia Capesize 2022 182,079
Navios Altair Capesize 2023 182,115
Navios Sakura Capesize 2023 182,169
Navios Amethyst Capesize 2023 182,212
Navios Astra Capesize 2022 182,393


Owned Containerships Type Built Capacity
(TEU)
Spectrum N Containership 2009 2,546
Fleur N Containership 2012 2,782
Ete N Containership 2012 2,782
Navios Summer Containership 2006 3,450
Navios Verano Containership 2006 3,450
Matson Lanai Containership 2007 4,250
Navios Verde Containership 2007 4,250
Navios Amarillo Containership 2007 4,250
Navios Vermilion Containership 2007 4,250
Navios Azure Containership 2007 4,250
Navios Indigo Containership 2007 4,250
Navios Domino Containership 2008 4,250
Matson Oahu Containership 2008 4,250
Navios Destiny Containership 2009 4,250
Navios Devotion Containership 2009 4,250
Navios Lapis Containership 2009 4,250
Navios Dorado Containership 2010 4,250
Carmel I Containership 2010 4,360
Zim Baltimore Containership 2010 4,360
Navios Bahamas Containership 2010 4,360
Navios Miami Containership 2009 4,563
Navios Jasmine(1) Containership 2008 4,730
Navios Chrysalis Containership 2008 4,730
Navios Nerine Containership 2008 4,730
Sparrow Containership 2023 5,300
Zim Eagle Containership 2024 5,300
Condor Containership 2024 5,300
Hawk Ι Containership 2024 5,300
Zim Falcon Containership 2024 5,300
Pelican I Containership 2024 5,300
Seagull Containership 2024 5,300
Zim Albatross Containership 2024 5,300
DP World Jeddah Containership 2024 5,300
DP World Jebel Ali Containership 2024 5,300
Hyundai Shanghai Containership 2006 6,800
Hyundai Tokyo Containership 2006 6,800
Hyundai Hongkong Containership 2006 6,800
Hyundai Singapore Containership 2006 6,800
Hyundai Busan Containership 2006 6,800
HMM Ocean Containership 2025 7,700
HMM Sky Containership 2025 7,700
Navios Cyan Containership 2026 7,900
Navios Turquoise Containership 2026 7,900
Navios Unison Containership 2010 10,000
Navios Constellation Containership 2011 10,000


Owned Tanker Vessels Type Built Capacity
(DWT)
Hector N MR1 Product Tanker 2008 38,402
Nave Aquila MR2 Product Tanker 2012 49,991
Nave Atria MR2 Product Tanker 2012 49,992
Nave Ohana MR2 Product Tanker 2025 49,994
Nave Capella MR2 Product Tanker 2013 49,995
Nave Hina MR2 Product Tanker 2026 49,996
Nave Alderamin MR2 Product Tanker 2013 49,998
Nave Pyxis MR2 Product Tanker 2014 49,998
Nave Harmony MR2 Product Tanker 2026 49,998
Nave Bellatrix MR2 Product Tanker 2013 49,999
Nave Orion MR2 Product Tanker 2013 49,999
Nave Titan MR2 Product Tanker 2013 49,999
Nave Jupiter MR2 Product Tanker 2014 49,999
Nave Velocity MR2 Product Tanker 2015 49,999
Nave Sextans MR2 Product Tanker 2015 49,999
Nave Luminosity MR2 Product Tanker 2014 50,240
Bougainville MR2 Product Tanker 2013 50,626
Nave Cetus LR1 Product Tanker 2012 74,581
Nave Ariadne LR1 Product Tanker 2007 74,671
Nave Rigel LR1 Product Tanker 2013 74,673
Nave Atropos LR1 Product Tanker 2013 74,695
Nave Cassiopeia LR1 Product Tanker 2012 74,711
Nave Cielo LR1 Product Tanker 2007 74,896
Nave Andromeda LR1 Product Tanker 2011 75,000
Nave Estella LR1 Product Tanker 2012 75,000
Nave Cosmos Aframax/LR2 2024 115,651
Nave Polaris Aframax/LR2 2024 115,699
Nave Photon Aframax/LR2 2024 115,752
Nave Dorado Aframax/LR2 2025 115,762
Nave Neutrino Aframax/LR2 2025 115,807
Nave Perseus Aframax/LR2 2025 115,812
Nave Amaryllis Aframax/LR2 2026 116,934
Nave Anthos Aframax/LR2 2026 116,998
Nave Orbit Aframax/LR2 2026 117,012
Nave Equator Aframax/LR2 2026 117,059
Nave Universe VLCC 2011 297,066
Nave Quasar VLCC 2010 297,376
Nave Synergy VLCC 2010 309,483


Bareboat-in vessels Type Built Capacity
(DWT)		 Purchase Option
Navios Star Kamsarmax 2021 81,994 Yes
Navios Amitie Kamsarmax 2021 82,002 Yes
Navios Libra Kamsarmax 2019 82,011 Yes
Nave Electron VLCC 2021 313,239 Yes
Nave Celeste VLCC 2022 313,418 Yes
Nave Allegro VLCC 2020 313,433 Yes
Nave Tempo VLCC 2021 313,486 Yes


Newbuildings to be delivered Type Expected
Delivery Date		 Capacity
(TEU / DWT)
TBN X Containership H1 2027 7,900
TBN XI Containership H1 2027 7,900
TBN XIV Containership H2 2027 8,850
TBN XV Containership H2 2027 8,850
TBN XVI Containership H2 2027 8,850
TBN XVII Containership H1 2028 8,850
TBN XXVIII Containership H2 2028 10,100
TBN XXIX Containership H2 2028 10,100
TBN XXX Containership H1 2029 10,100
TBN XXXI Containership H1 2029 10,100
TBN I MR2 Product Tanker Q4 2026 52,000
TBN II MR2 Product Tanker H1 2027 52,000
TBN III MR2 Product Tanker H1 2027 52,000
TBN XXXII MR2 Product Tanker H2 2029 50,000
TBN XXXIII MR2 Product Tanker H2 2029 50,000
TBN IV Aframax/LR2 H1 2027 115,000
TBN V Aframax/LR2 H1 2027 115,000
TBN VI Aframax/LR2 H1 2027 115,000
TBN XII Aframax/LR2 H1 2027 115,000
TBN XIII Aframax/LR2 H1 2027 115,000
TBN VII Aframax/LR2 H2 2027 115,000
TBN VIII Aframax/LR2 H2 2027 115,000
TBN IX Aframax/LR2 H1 2028 115,000
TBN XX VLCC H1 2028 319,000
TBN XXI VLCC H2 2028 319,000
TBN XXII VLCC H2 2028 319,000
TBN XXIII VLCC H2 2028 319,000
TBN XXIV VLCC H1 2029 319,000
TBN XXV VLCC H1 2029 319,000
TBN XXVII VLCC H2 2029 319,000
TBN XXXIV VLCC H2 2029 319,000
TBN XVIII Capesize H2 2028 181,500
TBN XIX Capesize H1 2029 181,500
TBN XXVI Capesize H2 2029 181,500

(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 increase in operating assets; (ii) net increase in operating liabilities; (iii) net interest cost; (iv) amortization and write-off of deferred finance costs and bond premium; (v) amortization of operating lease assets/ liabilities; (vi) other non-cash adjustments; and (vii) gain/ (loss) on sale of vessels, net. 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 Nine Month Period Ended Nine Month Period Ended
 September 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025
  ($ ‘000) ($ ‘000) ($ ‘000) ($ ‘000)
 (unaudited) (unaudited) (unaudited) (unaudited)
Net cash provided by operating activities $235,393  $103,077  $548,682  $381,257 
Net increase in operating assets  30,643   71,558   107,410   99,533 
Net increase in operating liabilities  (21,285)  (14,897)  (26,620)  (56,649)
Net interest cost  25,057   31,518   77,615   92,050 
Amortization and write-off of deferred finance costs and bond premium  (2,164)  (2,405)  (5,935)  (6,304)
Amortization of operating lease assets/ liabilities  167   189   540   562 
Other non-cash adjustments  4,146   5,000   16,576   9,764 
Gain/ (loss) on sale of vessels, net  21,913   (93)  63,449   (422)
EBITDA $293,870  $193,947  $781,717  $519,791 
(Gain)/ loss on sale of vessels, net  (21,913)  93   (63,449)  422 
Adjusted EBITDA $271,957  $194,040  $718,268  $520,213 


  Three Month
Period Ended		 Three Month
Period Ended		 Nine Month
Period Ended		 Nine Month
Period Ended
September 30, 2026
($ ‘000)		September 30, 2025
($ ‘000)		September 30, 2026
($ ‘000)		 September 30, 2025
($ ‘000)
  (unaudited) (unaudited) (unaudited) (unaudited)
Net cash provided by operating activities $235,393  $103,077  $548,682  $381,257 
Net cash used in investing activities $(162,408) $(70,010) $(613,575) $(338,660)
Net cash (used in)/ provided by financing activities $(62,445) $(49,605) $25,277  $18,699