1. Navios Maritime Holdings Inc.
Q2 2013 Earnings Presentation
22 August 2013
This presentation contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and Navios Holdings’ growth strategy and measures to implement such strategy, including expected vessel acquisitions and entering into further time charters. Words such
as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such
statements include comments regarding expected revenues and time charters. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable,
no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates
which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. Actual results may differ materially from those expressed or
implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for dry bulk vessels, competitive factors in
the market in which Navios Holdings operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings’ filings with the Securities and
Exchange Commission. Navios Holdings expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect
any change in Navios Holdings’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. The Company makes no prediction or
statement about the performance of its common stock. For the selected financial data presented herein, Navios Holdings compiled consolidated statements of operation and selected balance sheets
for the relevant periods.
EBITDA represents net income plus interest and finance costs plus depreciation and amortization and income taxes, if any, unless otherwise stated. EBITDA is a “non-GAAP financial measure” and
should not be considered a substitute for net income, cash flow from operating activities and other operations or cash flow statement data prepared in accordance with accounting principles generally
accepted in the United States or as a measure of profitability or liquidity. EBITDA is presented to provide additional information with respect to the Company's ability to satisfy its obligations including
debt service, capital expenditures, working capital requirements and payment of dividends. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service
requirements, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation.

2. Creating Shareholder Value: Navios Group
Navios Maritime Acquisition Corp.
(NYSE: NNA)
• Navios entity in tanker sector
• Fleet of 41 vessels: 29 product tankers, 8
VLCC, 4 chemical tankers
• Acquired product tankers for historically low
values
• Developing leading company in tanker
sector
• EBITDA: FY 2012: $97.5 million; H1 2013
$57.3 million
• Market value of NM ownership: $222.6
million
• Annual dividend: $0.20; 5.4% yield
Navios Maritime Holdings Inc.
(NYSE: NM)
• Controls 58-vessel drybulk fleet; 40 owned and 18 long term chartered-in vessels
• Flexible business model; Opportunity from market intelligence
• Stable cash flow from charter-out contracts >12 months and Short-Term Charters, COAs and FFAs
• FY 2012 EBITDA: $399.0 million; H1 2013: $77.3 million
• NM: Share price: $6.30
• Annual dividend: $0.24; 3.8% yield
Navios Maritime Partners L.P.
(NYSE: NMM)
• Focused on long-term charter business in
the drybulk sector
• MLP with high dividend payout model
• Fleet of 25 dry bulk vessels of 2.7 M DWT
• NM receives incentive distributions through
the wholly owned GP
• EBITDA: FY 2012: $177.4 million; H1 2013
$82.1 million
• Market value of NM ownership: $218.7
million
• Annual dividend: $1.77; 12.6% yield
Navios South American Logistics
• Integrated wet and dry logistics operator in
Hidrovia Region
• Core operations:
- Port Terminal storage facilities (dry
and wet)
- Barging (dry and wet)
- Cabotage business
• Expansion of port and barge business into
mineral commodities
• EBITDA: FY 2012: $48.1 million; H1 2013
$31.7 million
23.4% NM
Ownership
51.6% NM
Economic
Interest
63.8% NM
Ownership$2.12/ share $2.15/ share
All stock prices and yields as of August 21, 2013
2

3.  Conservative Balance Sheet
⎯ 44.1% Net Debt to Book Capitalization
⎯ No material debt maturities for four years
⎯ No unfunded capex
⎯ $277.1 million cash
 Low cash breakeven of $5,365 per day per vessel for 2,447 open days for 2013 provides flexibility
on chartering policy
‒ Free cash flow generation at current market levels:
‒ 1-year Time Charter :
 Current: $18,000 for Capesize, $9,500 for Panamax and $9,500 for Ultra-Handymax
 20-year average: $32,245 for Capesize, $18,337 for Panamax and $16,242 for Ultra-Handymax
‒ Additional upside:
‒ Profit sharing provides free cash flow generation of $2.2 million for every $1,000 of profit sharing achieved
3
Strong Competitive Positioning
Note: Breakeven includes operating costs of owned fleet (including drydock), charter-in expenses for charter-in fleet, general and administrative
expenses including credit default insurance expenses, interest expense and capital repayments (excludes COAs, short term charters and FFAs)
2013E Breakeven Analysis
Total Fixed Revenue 149,365,443
Dividends from affiliates 38,900,000
Total Cost (201,394,744)
Excess cost over revenue (13,129,301)
Open days 2,447
Impact on revenue per $1,000 day rate 2,447,000

4.  Navios chartering strategy protects against downside risk while allowing exposure to market
 Strategy of fixing vessels for period charters:
⎯ Base rate (floor) above the Company’s breakeven of $5,365 per day per vessel ensuring visibility of
revenues, free cash flow generation and protection from downside risk
⎯ Profit sharing based on indices, ensuring the capture of any upside movement of the market
 11% of fleet and 33% of charters fixed since June have market exposure
 Recent charters: maximizing profitability in a rising rate environment:
‒ Base rate and profit sharing:
• Ultra-Handymax: 100% over base rate of $8,000, basis the average of six Baltic Supramax time charter routes,
for a period of MIN 11/MAX 16 months. Current earnings rate $9,514 per day
• Ultra-Handymax: 70%/30% profit share over base rate of $8,000 basis BSI +8%, for a period MIN 12/MAX 24
months (vessel not redelivered)
• Ultra-Handymax: 100% over base rate of $8,500, basis the average of six Baltic Supramax time charter routes,
for a period of MIN 22 /MAX 27 months. Current earnings rate $9,537 per day
• Ultra-Handymax: 100% over base rate of $8,000, basis the average of six Baltic Supramax time charter routes,
for a period of MIN 20 /MAX 25 months (vessel not redelivered)
‒ Index plus premium:
• Panamax: Charterers pay the weighted average of the Panamax Index routes + 10% for a period of MIN 7
months / MAX until May 5, 2014. Current earnings rate $9,610 per day
• Panamax: Charterers pay the weighted average of the Panamax Index routes +17% for a period of MIN 12 /
MAX 15 months (vessel not redelivered)
‒ Capesize: $18,000 to $19,400 gross per day for 95 days
‒ Capesize: $16,000 net per day for 45 days Pac round trip
Chartering Initiatives
4

5. Four vessels
 Agreed financing:
- Amount: $40.0 million or 60% of fair market value
- Amortization profile: 18.4 years adjusted for vessels’ age
- Margin: Libor + 325 bps
 Acquisition of charter free vessels towards cyclical lows provides NM:
- Leverage to market recovery; currently $7.0 million above cost
 Cash flow breakeven of $7,445 per day per vessel
Navios Asia LLC Status
 Six vessels through joint venture
 Anticipated delivery of vessels:
- Two Panamax vessels scheduled for delivery in Q3 2013.
 Financing:
- The acquisition of the vessels is expected to be partially financed by bank debt consistent with our existing
credit facilities
Acquisitions update
5
Vessel Name Year Built DWT
Estimated
Delivery
Acquisition
Cost
(in mm)
Navios Galileo Jan-06 76,596 August 26 $17.25
Navios Taurus Jan-05 76,596 September 3 $16.25
Navios Amitie Nov-05 75,395 September 10 $16.25
Navios Northern Star Aug-05 75,395 September 11 $16.25
Total 303,982 $66.00

6. Strategic Relationships: HSH transaction
Formation of Navios Europe Inc.
 The Navios Group, composed of Navios Maritime Holdings Inc. (NYSE: NM), Navios Maritime
Acquisition Corporation (NYSE: NNA) and Navios Maritime Partners L.P. (NYSE: NMM) formed
Navios Europe Inc. as the next step in concluding the letter of intent signed with HSH Nordbank AG
("HSH") in April of 2013
 Navios Europe, which will initially acquire five product tankers and five container vessels from debtors
of HSH, will be owned 47.5% by NM, 47.5% by NNA and 5% by NMM
– It is anticipated that funding requirements will be satisfied in the same percentages
Management of Vessels
 In August 2013, Navios Europe arranged technical and commercial management for five out of the
ten vessels. To date, the following vessels were delivered:
– Esperanza N a 2,007 TEU Sub-Panamax Container built in 2008
– Harmony N a 2,824 TEU Sub-Panamax Container built in 2006
– Three tanker vessels are also expected to be delivered through September 2013
Closing
 Navios Europe is expected to take ownership of all 10 vessels by November 1, 2013, at which point
management of the remaining vessels will be transferred as well
Strategic Partnership
 HSH and Navios are committed to their excellent working relationship. After the completion of this
transaction, HSH and Navios hope to work together toward similar transactions.
6

7. Strong Liquidity Position
($ million)
June 30, 2013
Cash (1) 277.1
Debt (2) 1,418.7
Shareholders' Equity 1,168.0
Capitalization (3) 2,586.7
Net Debt / Capitalization 44.1%
Navios Holdings’ Liquidity Position
Revolving Credit Facilities 2.9
Drawn Portion (4) (2.9)
Undrawn portion 0.0
Cash (1) 277.1
Total Navios Holdings’ Liquidity 277.1
(1)Includes $6.0 million of restricted cash
(2)Includes $293.8 million debt of Navios Logistics
(3)Excludes noncontrolling interest
(4)Drawing under facilities as of June 30, 2013
($‘m)
36.4
509.0
725.4
0
100
200
300
400
500
600
700
800
2013 2014 2015 2016 2017 2018 2019+
Debt Maturity
7

8. $6,280
$1,188
$5,157
$181
$11,488
$15,968
$3,302
$1,770
• Breakeven includes operating costs of owned
fleet (including drydock), charter-in expenses for
charter-in fleet, general and administrative
expenses including credit default insurance
expenses, interest expense and capital
repayments (excludes COAs, short term
charters and FFAs)
• Total Available Days of Core Fleet: 15,727 for
2013
• Includes JV vessels on a consolidated basis
2014
21.5% Fixed
2013
84.6% Fixed
Average Contracted Daily Charter-Out Rate
Opex (incl. drydocking) + Charter-in Costs
General & Administrative Expenses
Interest Expense
Capital Repayments
CostRevenue
$12,806
8
2013E
Cash Breakeven
2013 E 2014 E
2013E Breakeven Analysis
Total Fixed Revenue 149,365,443
Dividends from affiliates 38,900,000
Total Cost (201,394,744)
Excess cost over revenue (13,129,301)
Open days 2,447
Impact on revenue per $1,000 day rate 2,447,000
$17,738
$14,790
* Allocation of part of the $175.4 million of insurance restructuring proceeds to the respective years
*
*

9. 17 Capesize 20 Panamax 19 Ultra-
Handymax
2 Handysize
10 Vessels
1.77 million DWT
15 Vessels
1.16 million DWT
14 Vessels
0.75 million DWT
1 Vessel
0.04 million DWT
40 Owned
3.72 million DWT
7 Vessels
1.27 million DWT
5 Vessels
0.47 million DWT
5 Vessels
0.34 million DWT
1 Vessel
0.04 million DWT
18 LT Charter-In
2.12 million DWT (2)
4 Vessels
0.72 million DWT
2 Vessels
0.16 million DWT
4 Vessels
0.24 million DWT
1 Vessel
0.04 million DWT
11 Purchase
Options
1.16 million DWT
One of the Largest US-listed Dry Bulk Fleets
Charter-in strategy allows fleet expansion with zero capital outlay
& future ownership via purchase options
Navios Group(3) controls 124 vessels
83 dry bulk (8.5 million DWT) and 41 tankers (4.2 million DWT)
Navios Holdings Controls 58(1) Vessels (5.8 million DWT)
45 Vessels Currently Operating (4.8 million DWT)
Average Age: 6.4 years
(1) Excludes Navios Logistics’ fleet
(2) Includes 11 vessels that have purchase options
(3) Navios Group is composed of Navios Holdings (NM), Navios Partners (NMM) and Navios Acquisition (NNA). Excludes Navios Logistics’ fleet
9

10. $11,488
$15,968
$3,302
$1,770
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
2013 2014
Average Daily Charter-out Rate
10
Long-Term Contracted Revenue
Contracted Revenue (1)
After Restructured Credit Default Insurance
2012 $266.6 million
Cash Settlement $175.4 million
2013 $149.4 million
2014 $61.6 million
(1) Excludes CoAs, Kleimar controlled fleet, Navios Logistics’ Fleet
84.6%
21.5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2013 2014
Contracted Days
* Allocation of part of the $175.4 million of insurance restructuring
proceeds to the respective years
*
*$14,790
$17,738

11. Efficient, Low Cost Operator
 Established reputation as strong operating history
allow for favorable charter contract terms and rates
 Strong relationships allow for attractive charter-in rates
with no capital outlay, low breakeven
 Navios insured for entirety of contracted chartered-
out/charter-in spread
Favorable Long-Term Charter-in Contracts(2)LTM Average Daily Operating Costs / Vessel
(including dry-docking)
 Opex is approximately 32% less than industry average due
to a modern, efficient fleet with strong in-house technical
management
 Navios Holdings benefits from technical management
services provided to affiliates
$3,841
$5,640
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
Navios Average per
Vessel
Industry Average per
Vessel
$/Day
(1) Source: Drewry Shipping Consultants October 2012
(2) Excludes Kleimar controlled vessels
(1)
$/Day
$11,488
$13,357
$3,302
0
2000
4000
6000
8000
10000
12000
14000
16000
Average Daily Charter-out Rate
Av. Charter-in Av. Charter-out
* Allocation of part of the $175.4 million of insurance restructuring
proceeds to the respective years
2013
*
$14,790
11

12. Baltic Exchange Dry Index* 2002 – 2013
BDI October 2008 to date
BDI 2002 to date
* As of 08/21/2013 12

13. GDP Growth Driven by Emerging Economies
Source: IMF July 2013
5.1 5.0 5.4
3.2 3.1 3.8
1.2 1.2
2.1
(6.0)
(4.0)
(2.0)
-
2.0
4.0
6.0
8.0
10.0
Emerging and developing economies World Advanced economies
IMF Latest Revisions of GDP Growth (%) July 2013 April 2013
World GDP 2013 ▼ 3.1 ▼ 3.3
2014 ▼ 3.8 ▼ 4.0
Advanced economies GDP 2013 1.2 ▼ 1.2
2014 ▼ 2.1 2.2
Emerging markets GDP 2013 ▼ 5.0 ▼ 5.3
2014 ▼ 5.4 ▼ 5.7
13

14. 0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
1980 1985 1990 1995 2000 2005 2010
Trade(MillionTons)
Upside:
India
Source: Drewry Shipping Consultants Ltd.
World Dry Bulk Trade 1980 - 2013
2.8%
5.5%
China admitted
to the WTO
Berlin wall falls
1.1%
Forecast
14

15. The Southern Trade Routes: How China / India
Can Keep Growing Without the OECD
United States
South America
Africa
India
China
S.E.
Asia
Japan
OECD Trade Expansion 1950+
Europe
Southern Silk Route
Massive expansion in “South:
South” Trade, as expanding
economies such as China and
India invest overseas to
secure raw material supply
Source: Galbraiths, Oct 2011 and HSBC “Southern Silk Road” June 2011
Australia
Movements of Oil, Iron Ore, Coal,
Grain etc. from emerging nations in
return for investment/infrastructure,
Oil/Steel products from China and
India
15

16. Worldwide urbanization and rising incomes
Global urban populations are expected to increase substantially by 2050 along with
incomes per capita leading to increased metal demand.
Source: Rio Tinto and UN
Growth in incomes and urban populations support increased metal demand
which will increase seaborne movements of raw materials.
42%
51%
67%
0
1
2
3
4
5
6
7
8
9
10
Billions
World urbanization will continue to grow:
6.3B urban residents by 2050
Urban Rural
16

17. Global iron ore – key developments
Source: Clarksons Capital Markets, Macquarie, China NBS, TSI, SSY, Bloomberg 2013
Available Incremental Global Iron Ore
Due 2013 to 2016
205.4
454.1
635.9
871.9
0
200
400
600
800
1000
2013 2014 2015 2016
Australia Brazil Africa Canada Others
 Iron ore future prices currently showing a decline over the next two years to
$107/ton in 2015 from a current spot price of $137.8/ton
 Low iron ore prices mean Chinese domestic ore will become uncompetitive,
resulting in substitution of higher quality imports for low quality domestic ores
 Increased steel production in China will also cause increased iron ore imports
17

18. 50
55
60
65
70
75
80
85
90
95
100
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Milliontons
$/Day
Quarterly Brazilian Iron Ore Exports Baltic Cape TC Avg
Brazil iron ore export seasonality;
Future growth will drive cape rates
Source: Clarksons, GTIS, Baltic Exchange 18

19. Million tons
Iron Ore
Steel Production
Domestic Production Imports
2006 580 YoY% 326 YoY% 421 YoY%
2007 707 22% 384 18% 488 16%
2008 785 11% 444 16% 500 2%
2009 873 11% 630 42% 567 13%
2010 1,065 22% 619 -2% 626 10%
2011 1,315 24% 687 11% 683 9%
2012 1,329 1% 745 9% 717 5%
2013 through July 763E 7%E 458 8% 455 9%
Sources: World Steel Association,
National Bureau of Statistics of China/Mysteel, SSY
Chinese Urbanization & Steel Production
0
50
100
150
200
250
2006 2007 2008 2009 2010 2011 2012 2013f 2014f
MillionTonsperYear
China Seaborne Coal Imports
20% CAGR 2009 to 2012
MillionTons
Days
0
5
10
15
20
25
30
35
40
45
0
20
40
60
80
100
120
Jan
Apr
Jul
Oct
Jan
Apr
July
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
2008 2009 2010 2011 2012 2013
Stockpiles Days of Inventory Avg Days of Inventory
19

20. Aging Fleet + Restricted Credit + High Scrap Price =
Accelerated Scrapping(1)
• 2009 scrapping ≈ 2.4% of fleet DWT (10.0 million DWT)
• 2010 scrapping ≈ 1.3% of fleet DWT (5.8 million DWT)
• 2011 scrapping ≈ 4.2% of fleet DWT (22.3 million DWT)
• 2012 scrapping ≈ 5.5% of fleet DWT (33.6 million DWT)
• 2013 scrapping ≈ 2.2% of fleet DWT (15.1 million DWT)
- Projected 2013 scrapping: 24.1 million DWT or 3.6%
• 2009 total dry bulk fleet ≈ 458.6 million DWT - Non delivery ≈ 40%
• 2010 total dry bulk fleet ≈ 536.6 million DWT - Non delivery ≈ 38%
• 2011 total dry bulk fleet ≈ 615.6 million DWT - Non delivery ≈ 30%
• 2012 total dry bulk fleet ≈ 679.6 million DWT - Non delivery ≈ 30%
• Net fleet growth for 2009 = 9.8%
• Net fleet growth for 2010 = 16.5%
• Net fleet growth for 2011 = 14.4%
• Net fleet growth for 2012 = 10.3%
5.1%
5.5%
0%
10%
Total Dry Bulk Fleet
DryBulkIndustryAgeProfile(2)
(% DWT)
20+ Years
25+ Years
(1) Source: Clarksons
(2) Source: SSY Dry Bulk Forecaster, July 2013
Scrapping Dynamics
10.6%
(73.7 m dwt)
Bulk Carrier Demolition(1)
Year Total Demolition
(m dwt)
Demolition as %
of Fleet
1998 12.3 4.62%
1999 9.3 3.53%
2000 4.6 1.72%
2001 8.2 2.97%
2002 6.1 2.12%
2003 4.2 1.42%
2004 0.4 0.12%
2005 1.0 0.30%
2006 1.7 0.50%
2007 0.5 0.14%
2008 5.6 1.42%
2009 10.6 2.53%
2010 6.4 1.40%
2011 22.2 4.33%
2012 33.6 5.46%
2013 Through
8/16/13
15.1 2.22%
2013 Projected 24.1 3.55%
20

21. 95.9 97.8
138.9
101.2
50.5
30.9
0
20
40
60
80
100
120
140
As of Jan 1, 2012 As of Jan 1, 2013
Source: Clarksons
2013
• July YTD: 69.7 million DWT projected; 40.5 million actual DWT delivered (42% non-delivery by DWT-preliminary)
• 495 actual deliveries, 872 newbuilds projected (43% non-delivery by # of vessels -preliminary)
2012
• 138.9 million DWT projected; 98.2 million actual DWT delivered (29% non-delivery by DWT)
• 1,192 actual deliveries, 1,665 newbuilds projected (28% non-delivery by # of vessels)
2011
• 137.3 million DWT projected; 95.9 million actual DWT delivered (30% non-delivery by DWT)
• 1,147 actual deliveries, 1,691 newbuilds projected (32% non-delivery by # of vessels)
2010
• 125.6 million DWT projected; 77.9 million actual DWT delivered (38% non-delivery by DWT)
• 957 actual deliveries, 1,528 newbuilds projected (38% non-delivery by # of vessels)
2009 • 71.3 million DWT projected, 43.1 million actual DWT delivered (40% non-delivery by DWT)
• 546 actual deliveries, 962 newbuilds projected (43% non-delivery by # of vessels)
Orderbook by year of delivery
MillionDWT
2011 2012 2013 2012 2013 2014
Before
non-delivery
Actual
non-
delivery
41.4mdwt
Dry Bulk Orderbook
Before
non-delivery
Actual
non-
delivery
41.1mdwt
• 2013 projected deliveries is
currently 101.2 million DWT
as of January 2013 (before
non-deliveries)
• Annualized deliveries for
2013 are about 60 million
DWT based on the current
non-delivery percent
21

22. -1.5%
-0.8%
1.6% 1.2% 1.4% 1.7%
-0.3%
3.4%
-6.0%
-5.2%
-8.3%
-4.4%
-1.1%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013f
Seaborne Dry Bulk Supply/Demand Balance
0
2000
4000
6000
8000
10000
12000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Baltic Dry Index
Source: SSY , Baltic Exchange, 2013 Projections: SSY, Drewry, Howe Robinson
2013
Projection
Range
0%
+1.2%
22

23. Earnings Highlights
($ ‘000 except per
share data)
Three
months
ended June
30, 2013
Three
months
ended June
30, 2012
Y-O-Y
Variance
Six months
ended June
30, 2013
Six months
ended June
30, 2012
Y-O-Y
Variance
Revenue 125,572 172,079 (27%) 259,409 324,093 (20%)
EBITDA 38,800 61,086 (36%) 77,274 123,659 (37%)
Adjusted EBITDA 38,800 60,763 (1) (36%) 77,274 123,336 (1) (37%)
Net (Loss) / Income (15,881) 5,285 N/A (26,036) 14,744 N/A
Adjusted Net (Loss) /
Income
(15,881) 4,962 (1) N/A (26,036) 14,421 (1) N/A
Basic (Losses) /
Earnings per Share
(0.16) 0.05 N/A (0.26) 0.14 N/A
Adjusted Basic
(Losses) / Earnings
Per Share
(0.16) 0.04 (1) N/A (0.26) 0.13 (1) N/A
(1) Adjusted EBITDA, Adjusted Net Income and Adjusted Basic EPS for the three and six month periods ended June 30, 2012, excludes $0.3
million gain from the sale of the Navios Buena Ventura to Navios Partners.
NM Q2 & H1 2013 Earnings Highlights
23

24. NM Strong Balance Sheet
Selected Balance Sheet Data
(in $'000)
June 30, 2013 December 31, 2012
Cash & cash equivalents 271,097 257,868
Restricted cash 6,011 24,704
Other current assets 191,813 187,995
Vessels, port terminal and other fixed assets, net 1,721,979 1,746,493
Total Assets 2,973,691 2,941,462
Current portion of long term debt 14,255 33,095
Other current liabilities 167,039 156,281
Senior notes, net of discount 1,127,714 1,034,141
Long term debt, net of current portion 276,759 290,976
Stockholders Equity (1) 1,167,983 1,206,376
Book Capitalization (1) 2,586,711 2,564,588
Net Debt / Book Capitalization 44.1% 41.9%
(1) Excludes noncontrolling interest.
24

25. Returning Capital to Shareholders
Dividend Policy:
Q2 2013 NM Distribution: $0.06 per share
Record Date: September 18, 2013
Payment Date: September 26, 2013
Shares Outstanding as of Q2: 103,330,707
Total cost: $6.2 million
Annual run rate: $24.8 million
Annualized dividends from public subsidiaries: $41.4 million
25

26. 100% Membership Interest
2.0% General Partner Interest
Incentive Distribution Rights
76.6% Limited Partner Interest
21.4% Limited Partner Interest
25 Dry Bulk Vessels
8 Capesize, 14 Panamax and 3 Ultra Handymax Dry Bulk Carriers
100% Membership Interest
Navios GP L.L.C.
(General Partner)
Navios Maritime Partners L.P.
NYSE: NMM
Common UnitholdersNavios Maritime Holdings Inc.
NYSE: NM
Navios Partners Ownership Structure
26

27. NM’s Economic Interest in NMM
Cash Distributions
FY 2013F $29.4 million
FY 2012 $28.6 million
FY 2011 $25.6 million
FY 2010 $22.2 million
FY 2009 $18.1 million
FY 2008 $11.9 million
Total $135.8 million
NM Ownership of NMM Units Market Value
August 21, 2013 15.6 million units 23.4% $218.7 million
December 31, 2012 15.5 million units 25.2% $210.3 million
December 31, 2011 15.4 million units 27.1% $212.2 million
December 31, 2010 14.7 million units 28.7% $267.3 million
December 31, 2009 12.4 million units 37.0% $169.0 million
December 31, 2008 11.2 million units 51.6% $79.9 million
November 12, 2007 (IPO) 8.0 million units 43.2% $159.8 million
(1) As of August 21, 2013
(2) Including GP interest
Economic Interest (2)
Value Appreciation $110.5 million or 102%
Book Value $108.2 million
Market Value $218.7 million (1)
27

28. 51.8% Interest
48.2% Interest
(1)
41 Tanker Vessels
21 MR2, 8 LR1, 8 VLCC, and 4 Chemical Tankers
100% Ownership Interest
Navios Maritime Acquisition Corp.
NYSE: NNA
Public Shareholders
Navios Maritime Holdings Inc.
NYSE: NM
NNA Ownership Structure
(1) 51.60% economic interest
28

29. NNA Company Highlights
Large, Modern and
Diverse Tanker Fleet
 41 owned vessels (29 in the water), 12 to be delivered (10 newbuildings)
 Modern high-quality fleet with an average age of 4.7 years
 Diverse portfolio of 8 VLCC, 8 LR1, 21 MR2 and 4 Chemical Tankers
Proprietary Deal Flow
Built in Growth
 Access to distressed deals through strong relationships with banks
 Available revenue days will grow from 5,786 days in 2012 to 12,596 days in
2014 (118% growth in available revenue days)
 14 product tankers delivering throughout 2013, 5 in 2014 and 2 in 2015
Long-Term Cash Flow Visibility
with Strong Counterparties
 93.6% of revenue days fixed in 2013 - $188.4 million
 62.8% of revenue days fixed in 2014 - $169.8 million
 Average duration of all charters of 2.4 years
 Diverse group of first-class charterers (DOSCO, Shell, Koch, Vitol, Formosa)
Well Positioned to Capture
Product Tanker Market Upside
 44% of product tankers revenue days open in 2014 and 70% in 2015
 84% of entire contracted fleet and 88% of product tanker contracted fleet has
profit sharing
 Every $1,000 of profit share above base rate provides $8.0 million free cash
flow or $0.07 per common share annualized
Low Cash Flow Breakeven
 Full cost of entire fleet covered from existing long-term charters for 2013
 Operating expenses below the industry average; fixed until mid-2014
 Low financing cost through distress deals with banks
Seasoned Management Team
with Strong Capital Market
Presence and Track Record
 Strategic relationships with shipyards, banks and key industry players
 Average industry experience of 20+ years per person
 NNA has raised about $1.1 billion in capital markets
29

30. 46.4
57.3
H1 2012 H1 2013
73.5
97.5
2011 2012
Vessel Deliveries Continue to Provide Material Growth
4,053
5,786
9,646
2011 2012 2013
Available Days
30
67%
43%
121.9
151.1
188.4
2011 2012 2013
Contracted Revenue (m USD)
25%
24%
100%(1) 100% 93.6% 23%
33%
14
19
34
2011 2012 2013
Fleet
79%
36%
(1) % of fixed days
(2) Excludes the effect of $3.7 million compensation fee for early charter termination
(2)
EBITDA (m USD)

31. NM’s Economic Interest in NNA
Cash Distributions
FY 2013F $9.5 million
FY 2012 $5.2 million
FY 2011 $5.2 million
Total $19.9 million
NM Ownership of Economic Interest in NNA Market Value
August 21, 2013 60.0 million shares 51.6% $222.6 million
December 31, 2012 26.0 million shares 54.0% $61.6 million
December 31, 2011 26.0 million shares 54.0% $64.0 million
December 31, 2010 26.0 million shares 53.7% $89.7 million
31
Economic Interest
Value Appreciation $28.3 million or 15%
Book Value $194.3 million
Market Value $222.6 million (1)
(1) As of August 21, 2013

32. 32
Cabotage Business
• Refined product transportation
along the Argentinean coast
• Six ocean going product
tankers and two self-propelled
barges
• Strategy to secure cash flows
with long term contracts
• Awarded Brazilian Cabotage
contracts for six newbuilding
vessels
Barge Business
• 329 barges and pushboats (1)
transporting dry and liquid
cargoes across the river system
– Pushboats
– Dry barges
– Oil barges
– LPG barges
• 1 floating dry dock
36.2% Ownership63.8% Ownership
Peers Business Inc.
Navios Maritime Holdings Inc.
NYSE: NM
Navios South American Logistics Inc
(Marshall Islands)
Port Terminal Operations
Storage and Transfer
• Bulk Terminal – Nueva
Palmira – Uruguay (tax free
zone) with 460,000 mt dry
storage capacity
• Fuel Terminal – San Antonio
Port – Paraguay with 45,660
m3 storage capacity
Navios Logistics Ownership Structure
(1) Including 3 pushboats and 36 barges to be delivered

33. Navios Logistics Highlights
33
Leading Logistics
Provider in the Hidrovia
Region of South
America
 Largest independent dry terminal in Hidrovia
 One of the largest independent liquid terminals in Paraguay
 One of the largest, most versatile barge river fleets serving a diverse set of industries
 Largest Argentinean product cabotage fleet with an average age of 4 years
Multiple Avenues of
Growth
 Opportunities to invest in new port infrastructure
 Increasing minerals and grain production and fuel demand create need for new convoys
 Opportunity to expand in Brazilian cabotage
Favorable Market
Fundamental
 Robust growth in exports of grain and mineral commodities
 Hidrovia system and coastal cabotage are critical infrastructure for region
Scale and Strong Asset
Base Provide Operating
Efficiency
 Economies of scale provide low costs per ton transported
 Integrated terminal, barge and cabotage network offers substantial operating leverage
Strong
Counterparties
 Diverse group of large, high-quality counterparties
 Exposure to ADM, Bunge, Cargill, Dreyfus, Petrobras, Petropar, Vale, Vitol among others
Focus on Contracted
Cash Flow
 Strategic positioning with fixed rate contracts and CoA’s with minimum volume guarantees
 Long-term relationships with high contract renewal rates
Seasoned Management
Team with Strong Track
Record and Established
Brand
 Strategic relationships
 Experienced management team
 Long operating history in region

34. New Business
34
Acquired three barge convoys for approximately $49.2 million
• Estimated cost:
– $22.7 million for three second hand push boats ($7.6 million each, including
transportation) – delivery Q4 2013
– $26.5 million for 36 new building barges ($736,500 each, including transportation) –
delivery Q1 2014
• 36 “Parana-type” barges to be built in China
– Shipyard relationship leverages Navios Holdings’ global reach
– “Parana-type” = 2,800 dwt vs. “Mississippi-type” = 1,500 dwt
– 12-barge “Parana-type” convoy has ~ 40% higher carrying capacity compared to a
16-barge “Mississippi-type” convoy with similar operating costs
– Option for additional 36 barges under same pricing and terms
Agreement in principle for long-term take-or-pay contract
• Convoys to be employed for an initial seven-year period
• Estimated annual EBITDA = $9.9 million ($3.3 million per convoy)
• Tariff adjustments for fuel, crew cost and FX movements
• Contract party: A-/Baa2 rated quality credit

35. Track Record of Strong EBITDA Growth
35
188.0
234.7 247.0
2010 2011 2012
32.5
39.0
48.1
2010 2011 2012
Revenue ($ million) EBITDA ($ million)
14.6%
CAGR
21.7%
CAGR
123.4
136.7
H1 2012 H1 2013
24.1
31.7
H1 2012 H1 2013
10.7% 31.6%
$90.0 Million Raised in Q1 2013 through Add-On Bond for Growth Capex

36. Navios Logistics Q2 & H1 2013 Earnings Highlights
36
(in $ ‘000)
Three months
ended
June 30, 2013
Three months
ended
June 30, 2012
Y-O-Y
Variance
Six months
ended
June 30, 2013
Six months
ended
June 30, 2012
Y-O-Y
Variance
Navios
Logistics
Revenue 63,467 73,293 (13%) 136,697 123,440 11%
EBITDA 17,583 15,373 14% 31,705 24,091 32%
Net income 4,423 2,397 85% 10,357 8 n/a
Port
Terminals
Revenue 22,705 30,286 (25%) 59,418 49,923 19%
EBITDA 6,971 6,363 10% 14,257 11,713 22%
Barge
Business
Revenue 25,787 27,424 (6%) 49,069 47,398 4%
EBITDA 4,519 3,723 21% 7,384 5,552 33%
Cabotage
Business
Revenue 14,975 15,583 (4%) 28,210 26,119 8%
EBITDA 6,093 5,287 15% 10,064 6,826 47%

37. Navios Logistics Strong Balance Sheet
Selected Balance Sheet Data
(in $'000)
June 30, 2013 December 31, 2012
Cash & cash equivalents 124,543 45,538
Accounts Receivable 31,431 29,122
Vessels port terminal and other fixed assets, net 362,414 356,038
Total Assets 737,432 636,344
Senior notes 293,251 200,000
Current portion of long term debt 69 69
Long term debt, net of current portion 498 529
Current portion of capital lease obligations 1,376 1,353
Capital lease obligations, net of current portion 23,074 23,759
Noncontrolling Interest 673 561
Stockholders Equity (1) 331,197 320,840
Book Capitalization (1) 649,465 546,550
Net Debt / Book Capitalization 30% 33%
(1) Excludes noncontrolling interest
37

38. NM Summary
Large, Modern Fleet Provides Scale
in a Fragmented Industry
• 58 (2) controlled vessels; 40 owned / 18 chartered-in
• Modern high-quality fleet with an average age of 6.4 years (vs. 9.3 year(3) average
for industry)
• Diverse portfolio of Capesize, Panamax, Ultra-Handymax and Handysize vessels
Positioned to Capture Market
Recovery
• Substantial increase in open days as cycle is turning
• 84.6% (1) of revenue days in 2013 - $149.4 million
• 21.5% (1) of revenue days in 2014 - $61.6 million
Low Cash Flow Breakeven • Operating costs lower than average due to efficient in-house operations
• Favorable long-term charter-in rates
• Capex-lite charter-in strategy with flexible, discretionary options to purchase
Strong Brand with Established Track
Record in the Drybulk Industry
• About 60 years of operating history
• Strategic relationships with shipyards, commercial banks and other industry players
• Contracts with reputable creditworthy counterparties
Proven Market Access • Approx. $1.4 billion of debt and equity issued since September 2008
• $400 million senior secured notes issued in November 2009
• $350 million senior unsecured notes issued in January 2011
• $88 million add-on senior secured notes issued in July 2012
Favorable Long-Term Industry
Dynamics
• Strong emerging market demand, aging dry bulk fleet, increased scrapping activity,
and slippage of new buildings
Seasoned Management Team • Average industry experience of 20+ years per person
Multiple Avenues of Growth • Navios Maritime Partners
• Navios South American Logistics
• Navios Maritime Acquisition
• Navios Holdings core activities(1) Excludes Kleimar vessels
(2) Excludes Navios Logistics fleet
(3) Source: Drewry’s as of August 2013
38
Long-term contracts insured
by AA rated Insurance
Company in the EU

39. www.navios.com

40. Appendix

41. Owned Fleet: Panamax & Ultra Handymax
Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Profit Share NM % Base (3)
Navios Serenity Handysize 2011 34,690 15,533 10/13/2013 No
Navios Ionian Ultra Handymax 2000 52,067 8,788 12/17/2013 No
Navios Horizon Ultra Handymax 2001 50,346 9,500 09/05/2013 No
Navios Herakles Ultra Handymax 2001 52,061 8,788 03/28/2014 No
Navios Achilles Ultra Handymax 2001 52,063 8,788 10/28/2013 No
Navios Meridian Ultra Handymax 2002 50,316 8,883 11/04/2013 No
Navios Mercator Ultra Handymax 2002 53,553 10,450 08/30/2013 No
Navios Vector Ultra Handymax 2002 50,296 9,738 08/29/2013 No
Navios Arc Ultra Handymax 2003 53,514 8,788 09/19/2013 No
Navios Hios Ultra Handymax 2003 55,180 8,181 08/07/2015 100% in excess of $8,500
Navios Kypros Ultra Handymax 2003 55,222 8,550 03/20/2014 No
Navios Astra Ultra Handymax 2006 53,468 10,213 09/25/2013 No
Navios Ulysses Ultra Handymax 2007 55,728 9,975 04/30/2014 No
Navios Vega Ultra Handymax 2009 58,792 9,025 12/16/2013 No
Navios Celestial Ultra Handymax 2009 58,063 8,833
7,600
11/08/2013
05/08/2015
No
70% in excess of $8,000
Navios Magellan Panamax 2000 74,333 8,313 03/15/2014 No
Navios Star Panamax 2002 76,662 7,790 01/22/2014 No
Navios Centaurus Panamax 2012 81,472 12,825 04/15/2014 No
Navios Avior Panamax 2012 81,355 12,716 05/14/2014 No
Total: 19 vessels 1,099,181
41
(1) Daily rate net of commissions or net insurance rates. These rates do not include insurance proceeds received upfront in November 2012
(2) Expected Redelivery basis midpoint of full redelivery period
(3) Profit share based on applicable Baltic routes exceeding $/day rates listed.
Appendix: Core Fleet

42. (1) Daily rate net of commissions or net insurance rates. These rates do not include insurance proceeds received upfront in November 2012
(2) Expected Redelivery basis midpoint of full redelivery period
(3) Subject to COA of $45,500 per day for the remaining period until Q1 2015
(4) Profit share based on applicable Baltic routes exceeding $/day rates listed.
(5) Amount represents daily rate of mitigation proceeds following the restructuring of the original charter.
Appendix: Core Fleet
Owned Fleet: Capesize
Vessels Type Built DWT Charter Rate ($) (1) Expiration Date (2) Profit Share NM%/Base (4)
Navios Bonavis Capesize 2009 180,022 47,400 06/29/2014 No
Navios Happiness Capesize 2009 180,022 14,488 10/12/2015 No
Navios Lumen Capesize 2009 180,661 10,450 (5) 01/18/2014 No
Navios Stellar Capesize 2009 169,001 10,450 11/11/2013 No
Navios Phoenix Capesize 2009 180,242 13,656 01/27/2014 (3) No
Navios Antares Capesize 2010 169,059 12,350 01/06/2014 No
Navios Etoile Capesize 2010 179,234 29,356 12/02/2020 50% in excess of $38,500
Navios Bonheur Capesize 2010 179,259 17,100 11/20/2013 No
Navios Altamira Capesize 2011 179,165 23,440 01/28/2016 No
Navios Azimuth Capesize 2011 179,169 9,738 01/15/2014 No
Total: 10 vessels 1,775,834
42

43. Long-Term Chartered-In Fleet
Vessels Type Built DWT Charter Rate ($)
(1)
Expiration Date
(2)
Purchase
Option (3)
Profit Share NM
% / Base (5)
Navios Lyra Handysize 2012 34,718 6,175 08/25/2013 Yes (4) No
Navios Apollon Ultra Handymax 2000 52,073 7,700 08/14/2014 No 100% in excess of
$8,000
Navios Primavera Ultra Handymax 2007 53,464 8,835 11/16/2013 Yes No
Navios Armonia Ultra Handymax 2008 55,100 9,263 09/24/2013 No No
Navios Oriana Ultra Handymax 2012 61,442 8,788 08/28/2013 Yes No
Navios Libra II Panamax 1995 70,136 8,550 10/07/2013 No No
Navios Altair Panamax 2006 83,001 8,075 10/22/2013 No No
Navios Esperanza Panamax 2007 75,356 6,840 09/03/2013 No No
Navios Marco Polo Panamax 2011 80,647 7,838 01/13/2014 Yes No
Navios Southern
Star
Panamax 2013 82,224 10,450 10/12/2013 Yes No
Navios Koyo Capesize 2011 181,415 11,970 03/05/2014 Yes No
Total: 11 vessels 829,576
(1) Daily charter-out rate net of commissions.
(2) Assumed midpoint of redelivery by charterers.
(3) Generally, Navios Holdings may exercise its purchase option after three to five years of service.
(4) Navios Holdings holds the initial 50% purchase option on the vessel
(5) Profit share based on applicable Baltic routes exceeding $/day rates listed. 43
Appendix: Core Fleet

44. Vessels to be Delivered
Vessels Type Delivery Date DWT Purchase Option
Long-term
Chartered-in
Vessels on
Order
Navios Mercury Ultra-Handymax 09/2013 61,000 Yes
Navios Venus Ultra-Handymax 02/2015 61,000 Yes
Navios Felix Capesize 04/2016 180,000 Yes
Total: 3 vessels 302,000
44
Appendix: Core Fleet
Vessels Type Built
Owned Vessels
Navios Galileo Panamax 2006
Navios Northern Star Panamax 2005
Navios Amitie Panamax 2005
Navios Taurus Panamax 2005
Total: 4 vessels of 303, 982 DWT

45. 45
Appendix: Navios Asia LLC Fleet (1)
Vessel Name Type Built Charter Period (2)
Charter Rate (net)
Navios TBN Kamsarmax 2007 Q4 2014 $13,199
Navios TBN Panamax 2007 Q4 2014 $11,426
Navios TBN Panamax 2007 Q3 2015 $10,687
Navios TBN Panamax 2007 Q3 2014 $10,540
Navios TBN Panamax 2006
Navios TBN Panamax 2006 Q4 2013 $11,520
Total: 6 vessels of 464,173 DWT
(1) 51% ownership of NM
(2) Expiration date assuming no exercise of optional periods

46. Kleimar Controlled Fleet
Owned Vessels
Vessels Type DWT Built % Owned
Navios Asteriks Panamax 76,801 2005 100%
Long-Term Chartered-in Vessels
Vessels Type DWT Built Expiration(1) Purchase Option
Golden Heiwa Panamax 76,662 2007 03/2017 No
Beaufiks Capesize 180,310 2004 06/2017 Yes
Rubena N Capesize 203,233 2006 01/2016 No
SC Lotta Capesize 169,056 2009 03/2014 No
King Ore Capesize 176,800 2010 05/2020 No
Navios Obeliks Capesize 181,415 2012 07/2022 Yes
Total: 7 vessels 1,064,277
(1) Assumes vessels redeliver to owners post expiration of extension period
46
Appendix

47. www.clarksons.com
Containership Sector | Clarkson Research
www.navios.com