60

Years of Innovation & Excellence

Navios Maritime Holdings Inc. Q4 2013 Earnings Presentation

19 February 2014

Forward Looking Statements

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. Adjusted EBITDA represents EBITDA excluding certain items as described under Earnings Highlights". EBITDA and Adjusted EBITDA are non-GAAP financial measures 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 generally accepted accounting principles in the United States or as a measure of profitability or liquidity. EBITDA is presented to provide additional information with respect to the ability of Navios Holdings to satisfy its respective obligations including debt service, capital expenditures and working capital requirements. While EBITDA is frequently used as a measure of operating results and the ability to meet debt service requirements, the definition of EBITDA is used here may not be comparable to that used by other companies due to differences in methods of calculation.

Navios Group: Creating Shareholder Value

Navios Maritime Holdings Inc. (NYSE: NM)
Controls 64-vessel drybulk fleet; 42 owned and 22 long-term chartered-in vessels Global brand; flexible business model Stable cash flow from charter-out contracts >12 months and short-term charters, COAs and FFAs FY 2013 EBITDA: $159.8 million FY 2014E: $44.6 million dividends from subsidiaries (including incentive distributions from NMM) NM: Share price: $10.14 Annual dividend: $0.24; 2.4% yield
20.0% NM Ownership $2.69/ share 46.4% NM Economic Interest $2.70/ share

63.8% NM Ownership

Navios Maritime Partners L.P. (NYSE: NMM)

Focused on long-term charter business in the dry sector MLP with high dividend payout model 30 vessel fleet: 8 Capesize, 14 Panamax and 3 Ultra Handymax Dry Bulk Carriers and 5 Container vessels EBITDA: FY 2013: $153.4 million Market value of NM ownership: $280.7 million. Annual dividend: $1.77; 10.0% yield

Navios Maritime Acquisition Corp. (NYSE: NNA)

43 vessels fleet: 10 VLCCs, 29 product tankers, 4 chemical tankers Acquired crude and product tankers at historically low values Leading company in tanker sector EBITDA: FY 2013: $122.6 million Market value of NM ownership: $281.7 million Annual dividend: $0.20; 5.2% yield

Navios South American Logistics

Integrated wet and dry logistics operator in Hidrovia Region Core operations: - Port Terminal facilities (dry and wet) - Barging (dry and wet) - Cabotage business EBITDA: FY 2013: $56.8 million

20-year contract with Vale for port services expected $35 million annual minimum EBITDA 3

All stock prices and yields as of February 14, 2014.

Navios Group: Access to Capital Markets = Significant Growth

$2.5 billion raised in the capital markets 2013 and 2014 YTD Added 49 vessels 2013 and 2014 YTD 50% increase in fleet, 49 vessels

($MM)

150 1,400 1,200 1,000 800 600 400 200 378 (1) 50 Equity 440 Term Loan B Bonds December 31, 2012 265 740 48 50 610 100

147
30

98
21
29 74 (2) 43

February 18, 2014

NMM
(1) Includes $57.6 million Navios Acquisition 2014 offering (2) Includes Navios Europe fleet

NNA

NM

Navios Holdings: 2013 - A Year of Growth

$790.0 million raised in capital markets $44.3 million (1) value appreciation of vessels acquired during 2013 235.1% share price appreciation 155.0% trading volume increase since Q4 2012 33.3% increase in number of vessels

2013 and 2014 YTD Vessels: 16 Net Additions

70 65 60 55 50 45 40 35 30

2013 and 2014 YTD Capital Markets: $790.0 million

$ million

64 48

(2)

$800

740

$600
$400 $200 $0 January 2013 February 2014 Senior Notes Equity

50

Trading Liquidity: 155.0% increase

$12.00 1,000 800

Price Performance: 235.1% increase

816
$10.00 $8.00 $6.00 $4.00

796 423 535

600
400 200 0 4Q 2012

320

1Q 2013

2Q 2013

3Q 2013

4Q 2013

$2.00 02/01/2013

02/04/2013

02/07/2013

02/10/2013 5

(1) Clarkson as of December 2013 (2) Excludes Navios Europe fleet

Navios Holdings: Positioned for Growth

Strengthened balance sheet
Accessed new source of funding and strengthened balance sheet

$50 million of 8.75% Perpetual Preferred Stock issued

NM has no obligation to redeem - redemption option any time on or after January 30, 2018 Allows NM to meet its long term financing needs at low cost; Non-dilutive equity raise improves leverage ratio

Extended Bond maturity to 2022 $650 million of 7.375% Senior Secured Notes issued; lowering coupon by 150bps

Took advantage of cyclical low to expand fleet

Acquired 22 vessels in 2013 and YTD 2014 2013: four vessels to owned fleet; six vessels through Navios Asia; ten vessels through Navios Europe 2014: One Capesize Japanese built vessel delivering Q4 2105 at $52.0 million 2014: One Kamsarmax Japanese built vessel delivering Q4 2015 at $31.8 million Japanese built Kamsarmax vessels delivering between Q2 2015 and Q4 2016 Average charter in rate for year 1: $13,480, net per day per vessel Chartered for periods between seven and ten years Purchase option on all vessels

Chartered-in five vessels

$7,308 cash breakeven for 8,316 open days for 2014

Low breakeven provides safety margin in a recovering market

Strong Liquidity Position

($ million) December 31, 2013 Cash (1) Debt (2) Shareholders' Equity 189.9 1,511.2 1,065.7 Issuance of Preferred Stock (Net) 47.7 Pro Forma Navios Holdings Liquidity Position

Capitalization (3)
Net Debt / Capitalization

2,576.9
51.3%

Cash (1) Total Pro Forma Navios Holdings Liquidity

189.9 237.6

Debt Maturity
(1) Includes $2.0 million of restricted cash
(2) Includes $293.7 million debt of Navios Logistics (3) Excludes noncontrolling interest
($ m) 700 600 500 400 300 200 363.8 664.7 290.0

100
0 2014 2015 2016 2017 NM 26.6 2018 NSAL 30.3 2020 8 2021

2019

2022+

Low Cost Structure

Revenue Cost

2015 8.8% Fixed

2014 51.4% Fixed

Fully Loaded Cost

$12,916
$1,156 $18,230 $4,882 $1,066 $5,812

Capital Repayments Interest Expense General & Administrative Expenses

$13,408

Opex (incl. drydocking) + Charter-in Costs

2014 E

2015 E

2014 E

Average Contracted Daily Charter-Out Rate

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: 17,094 for 2014 Includes Navios Asia vessels on a consolidated basis 8

Chartering Strategy
Balancing credit, market and cycle risk
Base rate provides visibility of revenues and protection from downside risk Index plus premium positions NM to capture upside movements in the market 8,778 days contracted for 2014 (51% of available days) 2,142 contracted days (12% of available days) at index linked rates 6,636 contracted days (39% of available days) at fixed rates 8,316 open days (49%) for 2014

Nine vessels fixed for period charters structured to capture market upside while mitigating credit risk:
Four vessels fixed at index plus premium: Solid base rate with upside Five vessels fixed with base rate and index linked profit sharing
Panamax Index Capesize index $49,108

Supramax index

$23,381 $10,275 $14,580 $9,472 $11,381 $11,699 $14,054

$26,179

2013 Rates

2014 YTD Rates

10 year Average Rates

9

Every $1,000 movement on index = $2.7 million free cash flow ($0.03 per common share)

Chartering Strategy Captures Market Recovery

$35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $7,308 $12,025 $15,714 $20,133 $29,045

$5,000
$2014E Breakeven
YTD Spot Rate1
(2)

Current rates1

20 Yr. Avg. rates 1

10 Yr. Avg. rates 1

Cash Flow Analysis ($MM)

2014E Current rates 115.4 44.6 130.7 (220.8) 69.9 8,316 8.3 20-yr. avg. rates 115.4 44.6 + 167.4 (220.8) 106.6 + 8,316 8.3 10-yr. avg. rates 115.4 44.6 + 241.5 (220.8) 180.7 + 8,316 8.3

Total contracted revenue Dividends received from subsidiaries Revenue from open days Total cost (3) Free cash flow Open Days Impact on revenue per $1,000 day rate

Low cash breakeven for 2014 open days of $7,308

(1) Weighted average based on the open days of the fleet mix based on one year time charter except YTD spot rate. (2) Excludes cash flow from Navios Logistics. (3) Total cost 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).

10

One of the Largest US-listed Dry Bulk Fleets

Navios Holdings Controls 64(1) Vessels (6.3 million DWT) 51 Vessels Currently Operating (5.1 million DWT) Average Age: 7.0 years
17 Capesize
11 Vessels
1.96 million DWT

26 Panamax
16 Vessels
1.23 million DWT

19 UltraHandymax
14 Vessels
0.75 million DWT

2 Handysize
1 Vessel
0.04 million DWT

42 Owned
3.98 million DWT

6 Vessels
1.10 million DWT

10 Vessels
0.88 million DWT

5 Vessels
0.34 million DWT

1 Vessel
0.04 million DWT

22 LT Charter-In
2.36 million DWT (2)

4 Vessels
0.72 million DWT

7 Vessels
0.48 million DWT

4 Vessels
0.24 million DWT

1 Vessel
0.04 million DWT

16 Purchase Options
1.48 million DWT

Charter-in strategy allows fleet expansion with zero capital outlay & future ownership via purchase options Navios Group(3) controls 147 vessels
89 dry bulk (9.0 million DWT), 48 tankers (5.0 million DWT) and 10 Containers (48,061 TEU)
(1) Excludes Navios Logistics and Navios Europe fleet (2) Includes 16 vessels that have purchase options (3) Navios Group is composed of Navios Holdings (NM), Navios Partners (NMM), Navios Acquisition (NNA) and Navios Europe. Excludes Navios Logistics fleet

11

Revenue and Cost Management

Contracted Revenue
Average Daily Charter-out Rate
$20,000 $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 $0

Contracted Days
60% 50% 51.4%

$18,230

40% 30%

$13,408

20%
10%

8.8%
2014 2015

0%
2014 2015

LTM Average Daily Operating Costs / Vessel (including dry-docking)

Opex is approximately 39% 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

Favorable Long-Term Charter-in Contracts(2)

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

$/Day

$5,606 $3,400

$/Day $13,759

$13,408

Navios Average per Vessel (1)

(1)

Industry Average per Vessel (2)

2014 Average Charter-in Rate

2014 Average Charter-out Rate

12

Source: Drewry Shipping Consultants 2013/2014, (2) Excludes Kleimar controlled vessels

Baltic Exchange Dry Index* 2002 2014

BDI 2002 to date

BDI Last Twelve Months

* As of 2/18/2014

13

GDP Growth Driven by Emerging Economies

8.5

6.5
4.5

4.7
3.0 1.3

5.1

5.4

2.5 0.5 -1.5 -3.5 Emerging and developing economies World Advanced economies

3.7 3.9 2.2 2.3

IMF Latest Revisions of GDP Growth (%) World GDP 2014 2015 Advanced economies GDP 2014 2015

January 2014 3.7 3.9 2.2 2.3

October 2013 3.6 N/A 2.0 N/A

Emerging markets GDP

2014
2015

5.1
5.4

5.1
N/A
14

Source: IMF, January 2014

World Dry Bulk Trade 1980 - 2013

Upside:

India
4,500

China admitted to the WTO 5.5%

4,000 3,500 3,000

2,500 2,000

Berlin wall falls

2.8% 1.1%
Forecast
2014

Trade (Million Tons)

1,500 1,000 500

0

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

2010

2012

Provisional

Source: Drewry Shipping Consultants Ltd.

15

Global Iron Ore Key Developments

Iron ore future prices currently showing a decline over the next two years to $101/ton in 2017 from a current spot price of $121/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
$180

Global Iron Ore Cost Curve

(62% Fe CFR China) Chinese Miners

Available Incremental Global Iron Ore Due 2013 to 2016

(million tons)

$160 $140 2/12/14 Iron Ore Price: $121/mt

600
500 400

555.7 351.2

$120 $100 $80

2014 Consensus Iron Ore Price: $114/mt Multi-Year Low in the Iron Ore Price (September 2012): $87/mt

300
200 100 183.4

$/mt

FMG
$60 $40 $20 Rio Tinto BHP Billiton Vale

57.7

0
2013 Australia 2014 Brazil Africa 2015 Canada 2016 Others

$0
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

16
Source: China NBS, TSI, Bloomberg Nov 2013

120

Chinese Iron Ore and Steel Production

45 40 35 30 25 Stockpiles Days of Inventory

100
80

Avg Days of Inventory

January iron ore imports totaled 86.8 million tons Represents 32% YoY increase Continues rising iron ore import trend

Million Tons

20 40 20 15 10

5
0
Jan Nov Sep Jul May Mar Jan Nov Sep Jul May Mar Jan Nov Sep Jul May Mar Jan Nov Sep Jul May Mar Jan Nov Sep July May Mar Jan Nov Sep Jul May Mar Jan 2008 2009 2010 2011 2012 2013 2014

Iron Ore Steel Production Million tons Domestic Production Imports

2006
2007 2008 2009 2010 2011 2012

580
707 785 873 1,065 1,315 1,329

YoY%
22% 11% 11% 22% 24% 1%

326
384 444 630 619 687 745

Days

60

YoY%
18% 16% 42% -2% 11% 9%

421
488 500 567 626 683 717

YoY%
16% 2% 13% 10% 9% 5%

2013

1,436

8%

820

10%

779

9%
17

Sources: World Steel Association, World Bank, National Bureau of Statistics of China/Mysteel, UN

Its Not Just About Iron Ore

Indian Seaborne Coal Imports
(million tons)

Chinese Seaborne Coal Imports

(million tons)

200

350

2006 2013 CAGR = 21%

300 150 250

2009 2013 CAGR = 24%

200

100
150

100 50 50

0 2006 2007 2008 2009 2010 2011 2012 2013p 2014f

0 2006 2007 2008 2009 2010 2011 2012 2013p 2014f 18 Seaborne Imports (incl Lignite)

Sources: Clarksons, Carbon Club

 Its About Grain, Too

Meat Consumption Per Capita: China vs OECD
70

China Grain Imports

160
Coarse Grain Trade Corn Trade Barley Wheat Trade Rice Trade

140

65 Meat Consumption (kg /capita) 15kg/capita

120

Soybean Oil Trade

Soybean Trade

22kg/capita

60

OECD

Million tonnes

100

80

China

55

60

50

40

45

Chinas meat consumption/capita is rising to OECD levels

20

2012/13

2013/14f

2014/15f

2015/16f

2016/17f

2017/18f

2018/19f

2019/20f

2020/21f

2021/22f

40
avg 2010-12 2014 2016 2018 2020 2022

Grain shipments, while small relative to iron ore and coal, account for a large amount of vessel demand as measured in vessel days Chinas grain imports will more than double from 2012 to 2022 as the country improves its diet and consumes more meat It takes eight tons of grain to produce one ton of beef
19

Sources: Clarksons, FAO, USDA

2022/23f

Dry Bulk Orderbook

2014
2013 2012 2011 2010 2009
Through Jan 2014: 6.6 million actual DWT delivered; 14.0 million DWT projected (57% non-delivery by DWT-preliminary) 78 actual deliveries, 180 newbuilds projected (57% non-delivery by # of vessels -preliminary) 62.3 million actual DWT delivered; 101.2 million DWT projected (38% non-delivery by DWT) 785 actual deliveries, 1,272 newbuilds projected (38% non-delivery by # of vessels) 98.2 million actual DWT delivered; 138.9 million DWT projected (29% non-delivery by DWT) 1,192 actual deliveries, 1,665 newbuilds projected (28% non-delivery by # of vessels) 95.9 million actual DWT delivered; 137.3 million DWT projected (30% non-delivery by DWT) 1,147 actual deliveries, 1,691 newbuilds projected (32% non-delivery by # of vessels) 77.9 million actual DWT delivered; 125.6 million DWT projected (38% non-delivery by DWT) 957 actual deliveries, 1,528 newbuilds projected (38% non-delivery by # of vessels) 43.1 million actual DWT delivered; 71.3 million DWT projected (40% non-delivery by DWT) 546 actual deliveries, 962 newbuilds projected (43% non-delivery by # of vessels)

Orderbook by year of delivery

140
Actual nondelivery 41.1mdwt

120
Million DWT

100

97.8

101.2
Actual nondelivery 39.1mdwt

Before non-delivery

80
60

75.1 62.1

Before non-delivery

2014 projected deliveries were 75.1 million DWT as of January 2014 (before nondeliveries)
Estimated deliveries for 2014 are 52.5 million DWT assuming 30% nondeliveries

46.1

40
20
2012 2013

30.9

2014

2013

2014

2015

0 As of Jan 1, 2013
Source: Clarksons

As of Jan 1, 2014
20

Bulk Carrier Demolition(1)

Scrapping Dynamics
Aging Fleet + Restricted Credit + High Scrap Price = Accelerated Scrapping(1)
2014 YTD scrapping 1.6 million DWT 0.23% of fleet DWT Projected 2014 scrapping of 12.4 M DWT or 1.7% of fleet 2013 scrapping 22.2 million DWT 3.3% of fleet DWT 2012 scrapping 33.6 million DWT 5.5% of fleet DWT 2011 scrapping 22.2 million DWT 4.3% of fleet DWT 2010 scrapping 6.4 million DWT 1.4% of fleet DWT 2009 scrapping 10.6 million DWT 2.5% of fleet DWT 2013 total dry bulk fleet 721.5 million DWT - Non delivery 38% 2012 total dry bulk fleet 681.3 million DWT - Non delivery 29% 2011 total dry bulk fleet 616.7 million DWT - Non delivery 30% 2010 total dry bulk fleet 537.3 million DWT - Non delivery 38% 2009 total dry bulk fleet 459.5 million DWT - Non delivery 40% Net fleet growth for 2013 Net fleet growth for 2012 Net fleet growth for 2011 Net fleet growth for 2010 Net fleet growth for 2009 = 5.9% = 10.5% = 14.8% = 16.9% = 10.0%
(2)

Year 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Total Demolition (m dwt) 12.3 9.3 4.6 8.2 6.1 4.2 0.4 1.0 1.7 0.5 5.6 10.6 6.4 22.2 33.6 22.2 1.6 12.4

Demolition as % of Fleet 4.62% 3.53% 1.72% 2.97% 2.12% 1.42% 0.12% 0.30% 0.50% 0.14% 1.42% 2.53% 1.40% 4.33% 5.46% 3.25% 0.23% 1.72%
21

Dry Bulk Industry Age Profile

(% DWT)
20+ Years

2011 2012

10%
6.4%
4.6%

25+ Years

11.0% (79.2 m dwt)

2013 2014 Through 2/17/14 2014 Projected

0% Total Dry Bulk Fleet

(1) (2) Source: Clarksons Source: SSY Dry Bulk Forecaster, Feb 2013

Seaborne Dry Bulk Supply/Demand Balance

12000

10000

Baltic Dry Index

8000

6000

4000

2000

0 2000

2001

2002

2003 1.6%

2004

2005 1.4%

2006

2007

2008 3.4%

2009

2010

2011

2012

2013

2014

1.2%

1.7%

1.2% -0.3%

1.2%
0.1%

0% -1.5% -0.8% -0.5%

Demand Growth % > Net Fleet Growth % Demand Growth % < Net Fleet Growth %

-6.0%

-5.2% -8.3%

-5.7%

2001
Source: SSY, Clarksons

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013(P)

2014(F) 22

NM Q4 & Year End 2013 Earnings Highlights

Earnings Highlights
($ 000 except per share data) Revenue Adjusted EBITDA Adjusted Net (Loss)/Income Three months Ended December 31, 2013 130,586 41,985 (1) (18,059) (1) Three months Ended December 31, 2012 128,457 53,834 (2) (1,046) 2) Y-O-Y Variance 2% (22%) 1,626% Year Ended December 31, 2013 512,279 159,829 (1) (57,143) (1) Year Ended December 31, 2012 616,494 237,935 (3) 18,005 (3) Y-O-Y Variance (17%) (33%) N/A

Adjusted Basic (Losses)/Earnings Per Share

(0.18) (1)

(0.01) 2)

1,700%

(0.58) (1)

0.16 (3)

N/A

(1) Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Losses Per Share for the three months ended and for the year ended December 31, 2013 have been adjusted to exclude $37.1 million loss on bond and debt extinguishment and $14.8 million loss from Navios Acquisition. (2) Adjusted EBITDA for the three months ended December 31, 2012 excludes a $161.2 million gain from defaulted charters compensa tion and related accounts, net. Adjusted Net Loss and Adjusted Basic Losses Per Share for the three months ended December 31, 2012 also exclude the item described above and $4.1 million of accelerated amortization of intangibles. (3) Adjusted EBITDA for the year ended December 31, 2012 excludes (i) a $161.2 million gain from defaulted charters compensation and related accounts, net; and (ii) a $0.3 million gain on the sale of the Navios Buena Ventura to Navios Partners. Adjusted Net Income and Adjusted Basic Earnings Per Share for the year ended December 31, 2012 exclude items (i) and (ii) described above and $4.1 million of accelerated amortization of intangibles.

23

Strong Balance Sheet

Selected Balance Sheet Data
(in $'000) December 31, 2013 Cash & cash equivalents Restricted Cash Other current assets Vessels, port terminal and other fixed assets, net Total Assets Current portion of long term debt Other current liabilities Senior and ship mortgage notes, net of discount Long term debt, net of current portion Stockholders Equity (1) 187,831 2,041 150,114 1,808,883 2,919,613 19,261 130,506 1,293,156 198,832 1,065,695 December 31, 2012 257,868 24,704 187,995 1,746,493 2,941,462 33,095 156,281 1,034,141 290,976 1,206,376

Book Capitalization (1) Net Debt / Book Capitalization

(1) Excludes noncontrolling interest.

2,576,944 51%

2,564,588 42%

24

Returning Capital to Shareholders

Dividend Policy: Q4 2013 NM Distribution: $0.06 per share
Record Date: March 20, 2014 Payment Date: March 27, 2014 Shares Outstanding as of Q4: 104,261,029 Total cost: $6.3 million Annual run rate: $25.0 million

Expected dividend in 2014 from NMM : Expected dividend from NNA: Expected dividends from public subsidiaries:

$30.0 million $14.6 million $44.6 million

25

Navios Partners Ownership Structure

Navios Maritime Holdings Inc. NYSE: NM Common Unitholders

100% Membership Interest

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

2.0% General Partner Interest Incentive Distribution Rights

18.0% Limited Partner Interest

80.0% Limited Partner Interest

Navios Maritime Partners L.P. NYSE: NMM

100% Membership Interest

30 Vessels
8 Capesize, 14 Panamax and 3 Ultra Handymax Dry Bulk Carriers 5 Container vessels

26

2013: Solidified Cash Flow Generation

$595 million raised in capital markets 48% increase in share price 43% increase in number of vessels
Capital Markets: $594.7 million raised
20

Price Performance: 48% increase in 2013

$500.0 $400.0 $300.0 $200.0

$439.5

$155.2 16

$100.0
$0.0

Term Loan B

Equity
12

Number of Vessels: 43% increase

30 30 25 21 20 15

Access to Public Markets Fueled Significant Growth

January 2013

December 2013
27

NMs Economic Interest in NMM

Economic Interest (2) Value Appreciation Book Value Market Value $167.9 million or 148.9% $112.7 million $280.7 million
(1)

Cash Distributions FY 2014F FY 2013 FY 2012 FY 2011 FY 2010 $30.0 million $29.5 million $28.6 million $25.6 million $22.2 million $18.1 million $11.9 million

NM Ownership of NMM Units February 14, 2014 December 31, 2013 December 31, 2012 December 31, 2011 15.8 million units 15.7 million units 15.5 million units 15.4 million units 20.0% 21.6% 25.2% 27.1%

Market Value $280.7 million $293.0 million $210.3 million $212.2 million

FY 2009 FY 2008

Total

$165.9 million

December 31, 2010

December 31, 2009 December 31, 2008 November 12, 2007 (IPO) (1) As of February 14, 2014 (2) Including GP interest

14.7 million units

12.4 million units 11.2 million units 8.0 million units

28.7%
37.0% 51.6% 43.2%

$267.3 million
$169.0 million $79.9 million $159.8 million

28

Navios Acquisition Ownership Structure

Navios Maritime Holdings Inc. NYSE: NM Public Shareholders

43.6% Interest

(1, 2)

56.4% Interest

Navios Maritime Acquisition Corp. NYSE: NNA

100% Ownership Interest

43 Tanker Vessels
10 VLCC, 8 LR1, 21 MR2 and 4 Chemical Tankers

(1) 46.4% economic interest (2) 43.1% voting and 45.8% economic interest following the exercise of the underwriters overallotment option of the February 2014 offering

29

2013 - A Year of Strength and Growth

$988.1 million raised in capital markets(1) $104.4 million value appreciation of vessels acquired during the year 48.0% Increase in number of vessels 79.6% share price appreciation 210.3% trading volume increase since Q4 2012

Vessels: 14 net Addition

50 40 30 20 10 0 January 2013 December 2013

Value Appreciation: $104.4 million

$ million

43 29

Product Tankers 505.3

$700 $600 $500 $400 $300 $200 $100 $0

VLCC 609.8 365.0

307.0 198.3
Purchased Price

244.8
December 2013 Value
(2)

Capital Markets: $988.1 million(1)

$ million

Trading Liquidity: 210.3% increase

$ 000

Price Performance: 79.6% increase

$5.00 $4.50 $4.00 $3.50 $3.00 $2.50 $2.00

$700 $600 $500 $400 $300 $200 $100 $0

610.0 378.1

200 150 100 50 0 4Q 2012 1Q 2013

152.1 149.4
122.6 55.6

172.4

Senior Notes

Equity

2Q 2013

3Q 2013

4Q 2013

1Q 2013

2Q 2013

3Q 2013

4Q 2013 30

(1) Includes $57.6 million Equity raised in February 2014 (2) Clarkson as of December 2013

Vessel Deliveries Continue to Provide Material Growth

Available Days
15,514 13,552 33 9,653 5,786 4,053
43% 40% 14% 5%

Fleet
41 43

19 14
36%
74%

24%

67%

2011

2012

2013

2014

2015

2011

2012

2013

2014

2015

Contracted Revenue (m USD)

195.6
151.1 121.9
24%
Fixed days % 100% 100% 100% 84.6%(1) 44.2%(1)

EBITDA (m USD)
122.6
(3)

209.6

153.0
29% 7%

73.5

(2)

97.5
26% 33%

2011

2012

2013

2014

2015

2011

2012

2013

(1) Excludes revenue from 4.7% available days contracted on floating rate for 2014 and 0.6% for 2015 and profit sharing (2) Excludes the effect of $3.7MM compensation fee for early charter termination (3) Adjusted to exclude $21.1 million loss on the sale of the Shinyo Navigator, a $34.0 million loss on bond and debt extinguishment and a $1.1 million in December 2013, $34.0 million expenses in relation to the $505.0 million Senior Notes early extinguishment and a $1.1 million loss for non-cash share-based compensation

31

NMs Economic Interest in NNA

Economic Interest Value Appreciation Book Value Market Value $62.0 million or 28.2% $219.7 million $281.7 million (1) Market Value $281.7 million $321.2 million $61.6 million $64.0 million $89.7 million Cash Distributions FY 2014F FY 2013 FY 2012 FY 2011 Total $14.6 million $10.1 million $5.2 million $5.2 million $35.1 million

NM Ownership of Economic Interest in NNA February 14, 2014 December 31, 2013 December 31, 2012 December 31, 2011 December 31, 2010 73.0 million shares 73.0 million shares 26.0 million shares 26.0 million shares 26.0 million shares 46.4% 50.5% 54.0% 54.0% 53.7%

32
(1) As of February 14, 2014

Navios Logistics Ownership Structure

Navios Maritime Holdings Inc. NYSE: NM
63.8% Ownership

Peers Business Inc.

36.2% Ownership

Navios South American Logistics Inc (Marshall Islands)

Port Terminal Operations

Storage and Transshipment 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
20-year contract with Vale for port services expected $35 million annual minimum EBITDA

Barge Business

Cabotage Business

3631 barges and pushboats transporting dry and liquid cargoes across the river system Pushboats Dry barges Oil barges LPG barges 1 floating dry dock

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 new building vessels

33
1. Including 72 new building barges to be delivered in Q1 and Q2 2014, three new building push boats to be delivered in Q1 2015

Navios Logistics Recent Developments

20-year contract with Vale for storage and transshipment of mineral commodities 5 million tons per year, with option for up to 6 million tons; 4 million tons minimum guaranteed per year Fixed tariffs ($/ton) with annual adjustments for inflation and currency fluctuations Estimated total capex for expansion of terminal infrastructure = $150 million $35 million estimated(1) Year 1 EBITDA; $1.0 billion estimated(1) 20-year aggregate EBITDA If facility is used for initial maximum capacity: $50 million estimated(1) Year 1 EBITDA; $1.5 billion estimated(1) 20-year aggregate EBITDA Currently working on the regulatory process Three new building push boats ordered in China Acquisition cost, including estimated transportation cost: $26.1 million, or $8.7 million per push boat Three new building push boats to be used in previously announced six jumbo barge convoys Expected to be delivered in Q1 2015
Vessel Delivery Cost per vessel (including estimated transportation) $7.6 million $736,500 $736,500 $8.7 million Total Cost (including estimated transportation) $22.7 million $26.5 million $26.5 million $26.1 million
34

3 push boats 36 barges 36 barges 3 push boats

(1)

Q1 2014 Q1 2014 Q2 2014 Q1 2015

Assuming operating costs similar to the operating costs of Navios Logistics' existing dry port terminal

Track Record of Strong EBITDA Growth

Revenue ($ million)
8.0% CAGR

EBITDA ($ million)
20.5% CAGR

56.8 48.1

234.7

247.0
68.4

237.1
46.4 32.5 39.0

188.0
51.2

69.1

136.8

165.6

178.6

190.7

2010

2011

2012

2013

2010

2011

2012

2013

Sales of Product
Time charter, voyage and port terminals revenue

Further growth expected from investment in six convoys and port expansion
35

Navios Logistics Q4 2013 Earnings Highlights

Three months Three months ended ended Dec 31, 2013 Dec 31, 2012 Y-O-Y Variance Twelve Twelve months ended months ended Dec 31, 2013 Dec 30, 2012 Y-O-Y Variance

(in $ 000) Revenue Navios Logistics EBITDA Net income / (loss)

50,568 14,307 315

58,588 10,885 (748)

(14%) 31% n/a

237,084 56,837 9,716

247,033 48,132 156

(4%) 18% 6,128%

Port Terminals

Revenue EBITDA

13,805
6,954

25,086
5,008

(45%)
39%

85,539
29,481

100,623
23,599

(15%)
25%

Barge Business

Revenue EBITDA

25,253 5,910

22,244 3,374

14% 75%

97,208 14,565

93,853 12,901

4% 13%

Cabotage Business

Revenue EBITDA

11,510

11,258

2%

54,337

52,557

3%

1,443

2,503

(42%)

12,791

11,632

10%

36

Navios Logistics Q4 2013 Balance Sheet

Selected Balance Sheet Data
(in $'000) Year Ended December 31, 2013 Cash & cash equivalents Accounts Receivable Vessels port terminal and other fixed assets, net Total Assets Senior notes Current portion of long term debt Long term debt, net of current portion Current portion of capital lease obligations Capital lease obligations, net of current portion Noncontrolling Interest Stockholders Equity (1) Book Capitalization (1) Net Debt / Book Capitalization (1) Excludes noncontrolling interest
37

Year Ended December 31, 2012 45,538 29,122 356,038 636,344 200,000 69 529 1,353 23,759 561 320,840 546,550 33%

86,569 21,503 395,879 712,060 293,156 69 459 1,400 22,359 330,479 647,922 36%

NM Summary
Large, Modern Fleet Provides Scale in a Fragmented Industry 64 (2) controlled vessels; 42 owned / 22 chartered-in. 51 vessels in water Modern high-quality fleet with an average age of 7.0 years (vs. 9.3 year average for industry) Diverse portfolio of Capesize, Panamax, Ultra-Handymax and Handysize vessels Substantial increase in open days as cycle is turning Certain long-term contracts insured by AA rated 51.4% (1) of revenue days in 2014 - $115.4 million Insurance Company in the 8.8% (1) of revenue days in 2015 - $28.9 million EU 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 60 years of operating history Strategic relationships with shipyards, commercial banks and other industry players Contracts with reputable creditworthy counterparties Approx. $2.1 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 $650 million senior secured notes issued in November 2013

Positioned to Capture Market Recovery

Low Cash Flow Breakeven

Strong Brand with Established Track Record in the Drybulk Industry

Proven Market Access

Favorable Long-Term Industry Dynamics Seasoned Management Team Multiple Avenues of Growth
(1) Excludes Kleimar vessels (2) Excludes Navios Logistics and Navios Europe fleet

Strong emerging market demand, aging dry bulk fleet, increased scrapping activity, and slippage of new buildings Average industry experience of 20+ years per person Navios Maritime Partners Navios South American Logistics Navios Maritime Acquisition Navios Holdings core activities

38

www.navios.com

Appendix: Navios Holdings Fleet

Appendix: Core Fleet

Owned Fleet: Panamax & Ultra Handymax
Vessels Navios Serenity Navios Ionian Navios Horizon Navios Herakles Navios Achilles Navios Meridian Navios Mercator Navios Vector Navios Arc Navios Hios Navios Kypros Navios Astra Navios Ulysses Navios Vega Navios Celestial Navios Magellan Navios Star Navios Centaurus Navios Avior Navios Galileo Navios Amitie Navios Taurus Navios Northern Star Total: 23 vessels
(1)

Type Handysize Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Ultra Handymax Panamax Panamax Panamax Panamax Panamax Panamax Panamax Panamax

Built 2011 2000 2001 2001 2001 2002 2002 2002 2003 2003 2003 2006 2007 2009 2009 2000 2002 2012 2012 2006 2005 2005 2005

DWT 34,690 52,067 50,346 52,061 52,063 50,316 53,553 50,296 53,514 55,180 55,222 53,468 55,728 58,792 58,063 74,333 76,662 81,472 81,355 76,596 75,395 76,596 75,395 1,403,163

Charter Rate ($)(1) 8,906 10,925 9,500 8,788 12,825 11,400 11,163 9,512 11,400 9,512 8,550 19,000 9,975 5,415 9,451 8,313 7,790 12,825 12,716 8,835 14,250 9,263 9,263 11,400

Expiration Date(2) 06/24/2014 06/29/2014 02/24/2014 03/28/2014 03/18/2014 04/15/2014 03/31/2014 09/20/2014 04/14/2014 08/07/2015 03/20/2014 01/25/2014 03/20/2014 03/22/2015 07/16/2015 03/15/2014 05/07/2014 04/15/2014 05/14/2014 03/31/2014 11/15/2014 03/27/2014 04/03/2014 05/16/2014

Profit Share NM % Base (3) No No No No No No No Average Supramax Index Routes No 100% in excess of $8,500 basis Supramax Index Routes No No No (4) 70% in excess of $8,000 basis Supramax Index Routes +8% No No No No No No No No

(2)

Daily rate net of commissions or net insurance rates. These rates do not include insurance proceeds received upfront in November 2012 Expected Redelivery basis midpoint of full redelivery period

(3) (4)

Profit share based on applicable Baltic routes exceeding $/day rates listed. Average Specific basis Supramax Index Route +5% for first 45 days; Remaining period 100% in excess of $9,500 basis Supramax Index Routes +5%.

41

Appendix: Core Fleet

Owned Fleet: Capesize
Vessels Navios Bonavis Navios Happiness Navios Lumen Navios Stellar Navios Phoenix Navios Antares Navios Etoile Navios Bonheur Type Capesize Capesize Capesize Capesize Capesize Capesize Capesize Capesize Built 2009 2009 2009 2009 2009 2010 2010 2010 DWT 180,022 180,022 180,661 169,001 180,242 169,059 179,234 179,259 Charter Rate ($) (1) 47,400 14,488 10,450 (5) 20,425 22,325 12,350 29,356 22,000 14,250 23,440 9,738 Expiration Date (2) 06/29/2014 10/12/2015 06/03/2014 05/28/2014 05/06/2014(3) 02/28/2014 12/02/2020 03/04/2014 03/05/2015 01/28/2016 04/30/2014 Profit Share NM%/Base (4) No No No No No No 50% in excess of $38,500 No 105% excess of $15,000 basis Baltic Capesize Index 4TC No No

Navios Altamira Navios Azimuth Total: 10 vessels

Capesize Capesize

2011 2011

179,165 179,169 1,775,834

(1) (2) (3) (4) (5)

Daily rate net of commissions or net insurance rates. These rates do not include insurance proceeds received upfront in November 2012 Expected Redelivery basis midpoint of full redelivery period Subject to COA of $45,500 per day for the remaining period until Q1 2015 Profit share based on applicable Baltic routes exceeding $/day rates listed. Amount represents daily rate of mitigation proceeds following the restructuring of the original charter.

42

Appendix: Core Fleet

Long-Term Chartered-In Fleet
Vessels Navios Lyra Navios Apollon Type Handysize Ultra Handymax Built 2012 2000 DWT 34,718 52,073 Charter Rate ($) (1) 9,975 9,866 Expiration Date (2) 07/20/2014 08/14/2014 Purchase Option (3) Yes (4) No Profit Share NM % / Base (5) No 100% in excess of $8,000 basis Supramax Index Routes No No Average Supramax Index Routes +10% Average Supramax Index Routes +10% No No No No Average Panamax Index Routes +17% No

Navios Primavera Navios Armonia Navios Oriana Navios Mercury Navios Libra II Navios Altair Navios Esperanza Navios Marco Polo Navios Southern Star Navios Koyo Total: 12 vessels

Ultra Handymax Ultra Handymax Ultra Handymax Ultra-Handymax Panamax Panamax Panamax Panamax Panamax Capesize

2007 2008 2012 2013 1995 2006 2007 2011 2013 2011

53,464 55,100 61,442 61,393 70,136 83,001 75,356 80,647 82,224 181,415 890,969

10,450 11,875 11,229 11,136 10,213 11,400 13,300 7,838 11,747 11,970

02/22/2014 04/15/2014 10/13/2014 09/25/2014 04/11/2014 09/05/2014 08/09/2014 04/29/2014 10/14/2014 03/05/2014

Yes No Yes Yes No No No Yes Yes Yes

(1) (2) (3) (4) (5)

Daily rate net of commissions or net insurance rates. These rates do not include insurance proceeds received upfront in November 2012 Assumed midpoint of redelivery by charterers. Generally, Navios Holdings may exercise its purchase option after three to five years of service. Navios Holdings holds the initial 50% purchase option on the vessel Profit share based on applicable Baltic routes exceeding $/day rates listed.

43

Appendix: Core Fleet

Vessels to be Delivered
Vessels Owned Vessels on Order Navios TBN Navios TBN Total: 2 vessels Type Panamax Capesize Delivery Date 11/2015 11/2015 DWT 84,000 180,600 264,600

Vessels Navios Venus Navios TBN Navios TBN Long-term Chartered-in Vessels on Order Navios TBN Navios TBN Navios TBN Navios Felix Total: 7 vessels

Type Ultra-Handymax Panamax Panamax Panamax Panamax Panamax Capesize

Delivery Date 02/2015 04/2015 07/2015 11/2016 11/2016 11/2016 04/2016

DWT 61,000 80,000 82,000 84,000 81,000 81,000 180,000 649,000

Purchase Option Yes Yes Yes Yes Yes Yes Yes

44

Appendix: Navios Asia LLC Fleet (1)

Vessels N Amalthia N Bonanza Total: 2 vessels Type Panamax Panamax Built 2006 2006 DWT 75,318 76,596 151,914 Charter Rate ($) (2) 12,113 13,538 Expiration Date (3) 12/23/2014 01/12/2015 Profit Share NM % / Base No No

Vessels to be Delivered
Vessel Name
Navios TBN Navios TBN Navios TBN Navios TBN

Type
Panamax Panamax Panamax Panamax

Built
2007 2007 2007 2007

Estimated Delivery Date Q1 2015 Q1 2015 Q1 2015 Q1 2015

Total: 4 vessels of 312,259 DWT

(1) (2) (3)

51% ownership of NM Daily charter-out rate net of commissions. Assumed midpoint of redelivery by charterers.

45

Appendix
Kleimar Controlled Fleet
Owned Vessels
Vessels Navios Asteriks Type Panamax DWT 76,801 Built 2005 % Owned 100%

Long-Term Chartered-in Vessels Vessels Golden Heiwa Beaufiks Rubena N King Ore Navios Obeliks Total: 6 vessels Type Panamax Capesize Capesize Capesize Capesize DWT 76,662 180,310 203,233 176,800 181,415 895,221 Built 2007 2004 2006 2010 2012 Expiration(1) 03/2017 06/2017 01/2016 05/2020 06/2022 Purchase Option No Yes No No Yes

(1)

Assumes vessels redeliver to owners post expiration of extension period

46

Containership Sector | Clarkson Research

www.navios.com

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