Company Presentation

November 2014

Navios South American Logistics Inc.

2

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 South American Logistics, Inc.’s (“Navios Logistics”, “NSAL”, or the “Company”) 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 the Company 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 the Company. 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 barge, pushboat and product tanker vessels; competitive factors in the market in which the Company operates; weather-related risks; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company 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 the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. For the selected financial data presented herein, Navios Logistics compiled consolidated statements of operation and selected balance sheets for the relevant periods.

Adjusted EBITDA represents Net Income/(Loss) attributable to Navios Logistics’ stockholders before interest, taxes, depreciation and amortization and excludes certain items as described under “Earnings Highlights”. Adjusted EBITDA is presented because it is used by certain investors to measure a company's operating performance. Adjusted 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. While Adjusted EBITDA is frequently used as a measure of operating performance, the definition of Adjusted EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation.

Forward Looking Statements

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Navios Logistics Overview

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Navios Maritime Holdings Inc . (NYSE: NM)

• Controls 64-vessel dry bulk fleet; 40 owned and 24 long term chartered-in vessels.

• Global brand; Flexible business model

• Stable cash flow from charter out contracts and distributions (including IDRs) from subsidiaries

• FY 2013 EBITDA: $159.8 million; 9M 2014: $153.6 million

• Share price: $5.78

• Annual Dividend: $0.24; 4.2% yield

Navios Maritime Acquisition Corp. (NYSE: NNA)

• Fleet: 41 vessels: 29 product tankers, 8 VLCC,

4 chemical tankers

• Acquired crude and product tankers for

historically low values

• Developing leading company in tanker sector

• EBITDA: FY 2013: $122.6 million; 9M 2014:

$110.5 million

• Market value of NM ownership: $218.2 million

• Annual dividend: $0.20; 6.7% yield

Navios South American

Logistics • Logistics operator in Hidrovia

Region

• Core operations: Port Terminal

facilities (dry & wet), barging (dry

& wet), cabotage business

• EBITDA: FY 2013: $56.8 million;

9M 2014: $53.5 million

20-year contract with Vale for port

services – expected $35 million

annual minimum EBITDA

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

• Fleet: 32 vessels: 8 Capesize, 14

Panamax, 3 Ultra Handymax Dry Bulk

Carriers and 7 Container vessels

• MLP with high dividend payout model

• FY 2013 EBITDA:$153.4 million; 9M

2014: $160.7 million

• Market value of NM ownership:

$217.0 million

• Annual dividend: $1.77; 12.9% yield

$2.05/share $2.06/share

All stock prices and yields as of November 12, 2014.

Navios Maritime Midstream Partners L.P (NYSE: NAP)

• Fleet: 4 VLCCs

• Focused on long-term charter business in the

tanker midstream sector

• Options on 7 VLCC dropdowns provide built-in

fleet & distribution growth

• NTM EBITDA: $47million

20% 46.4% 63.8%

57.5%

Creating Shareholder Value

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(1) Including three new building push boats to be delivered in Q3 2015

Navios Maritime Holdings Inc.

NYSE: NM

Navios Logistics Ownership Structure

63.8% Ownership 36.2% Ownership

Port Terminals

Storage and Transshipment

• Bulk Terminal – Nueva

Palmira, Uruguay (tax free

zone) with 460,000 mt storage

capacity

• Fuel Terminal – San Antonio,

Paraguay with 45,660 m3

storage capacity

20-year contract with Vale for port

services – expected $35 million annual

minimum EBITDA

Barge Business

• 361(1) barges and pushboats

transporting dry and liquid

cargoes across the river system

– Push boats

– Dry barges

– Oil barges

– LPG barges

• 1 floating dry dock

Cabotage Business

• Refined product transportation

along the Argentinean coast

• Six ocean going product

tankers, two self-propelled

barges and one bunker vessel

• Strategy to secure cash flows

with long term contracts

• Awarded Brazilian Cabotage

contracts for six new building

vessels

Navios South American Logistics Inc.

(Marshall Islands)

Peers Business Inc.

Navios Logistics Highlights

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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 river barge fleets serving a diverse set of industries

Largest Argentinean product cabotage fleet with an average age of 5 years

Multiple Avenues of

Growth

Opportunities to invest in new port infrastructure

– 20-year contract with Vale for storage and transshipment of mineral commodities

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

ADM, Bunge, Cargill, Dreyfus, Petrobras, Petropar, Vale, Vitol among others

Focus on Contracted

Cash Flow

Strategic positioning with fixed rate contracts and CoAs 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

Integrated Transportation and Storage Services

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Port Terminals Barge Business Cabotage Business

Asset Base

Bulk transfer and storage port

terminal in Nueva Palmira,

Uruguay

Liquid port in San Antonio,

Paraguay

295 dry barges

34 tank barges

27 pushboats1

2 small inland oil tankers

3 LPG barges

1 floating dry dock

6 Product tankers

(8,974 – 17,508 dwt)

2 self-propelled barges

1 Bunker Vessel (1,693 dwt)

Commodities Transported

or Stored

Dry cargo (cereals, soybeans,

iron ore, etc)

Liquid cargo (primarily diesel

fuel and naphtha)

Dry cargo

Liquid cargo

Liquefied Petroleum Gas (LPG)

Refined oil products

Typical Customer Contracts

Long-term storage and

transshipment contracts

New 20-year storage and

transshipment contract with

Vale for mineral commodities

Time charters and CoAs (1-6

years)

Spot market contracts

Time charters

(1-3 years average duration)

Spot market contracts

Geographic

Region

Strategic locations along the

Hidrovia river system

Hidrovia river system

Argentinean coastal trade

Opportunity to expand into

Brazilian cabotage market

1. Including three new building push boats to be delivered in Q3 2015

Barge Business Ports Cabotage

# Barges &

Pushboats

Largest Independent Dry Port

in the Hidrovia

One of the Largest

Independent Liquid Ports in

Paraguay

Key Benefits of

Large Scale

• Lower operating costs

• Greater market presence

• Higher quality charterers

• Strong strategic relationships (shipyards, commercial banks, etc.)

DWT

(‘000) Top 5 Players Top 5 Argentinean Coastal Cabotage

Players by Tonnage1

Largest Independent Logistics Provider in Hidrovia

8 1. Includes vessels 5,000 – 29,000 DWT

2. Including three new building push boats to be delivered in Q3 2015

Sources: Drewry

712

361

247 243

118

0

100

200

300

400

500

600

700

800

Ultrapetrol NSAL Fluvialba ADM Interbarge

2

81

72

63

46 45

0

10

20

30

40

50

60

70

80

90

NSAL NationalShipping

Antares Petrotank Maruba

Navios Logistics Presence Throughout Supply Chain

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Argentina

Paraguay

Brazil

Bolivia

Iron ore

Grains

Liquid cargo

Dry Port

Liquid Port

Paraguay Fuel Port Terminal • Loading / Unloading

• 45,660 m3 storage capacity

Uruguay Bulk Port Terminal • Loading / Unloading

• 460,000 mt storage capacity

• Drying & conditioning facility

Uruguay

Cabotage Transportation • 6 ocean going tankers

• 2 self-propelled barges

• 1 bunker vessel

• Distribution of oil products

Barge Transportation • 3611 barges and push boats

• Dry and liquid cargos

Exports

1. Including three new building push boats to be delivered in Q3 2015

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Navios Logistics Recent Developments

Iron ore port development for 20-year storage and transshipment contract with Vale

• Developing the engineering design and advancing on equipment selection and procurement

• Advancing on remaining regulatory processes

Acquisition update of six convoys

• Three convoys:

– Three convoys have been delivered and started performing six-year TC contracts at $14,500

per day per convoy within Q2; expected annualized EBITDA of $10 million or $3.3 million per

convoy(1)

• Three additional convoys:

– Barges have already been delivered in China and transported to South America, three new

building push boats are expected to be delivered in Q3 2015

Acquisition of 1,693 dwt, 2012 built, bunkering vessel

• $4.9 million estimated total acquisition cost including repositioning cost to Argentina

• Three year time charter at $16,525 net per day adjusted for crew cost and FX differences

• Estimated annualized EBITDA of $2.0 million(1)

(1) EBITDA estimates assume expenses approximating current operating costs for similar vessels and 360 revenue days per year

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Market Overview

• Runs over 4,500 kilometers across the agricultural heartland of South America

– Comparable in length to the Mississippi system

Hidrovia Region Mississippi Region South America

Number of barges: ~ 2,100 Number of barges: ~ 29,000

Significant Capacity for Growth

Hidrovia: Agricultural Heartland of South America

12 Source: Drewry

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Favorable Market Fundamentals of Hidrovia

VENEZUELA

BOLIVIA

ARGENTINA

BRAZIL

FRENCH GUIANA

SURINAMEGUYANA

COLOMBIA

ECUADOR

PERU

PARAGUAY

URUGUAY

CHILE

VENEZUELA

BOLIVIA

ARGENTINA

BRAZIL

FRENCH GUIANA

SURINAMEGUYANA

COLOMBIA

ECUADOR

PERU

PARAGUAY

URUGUAY

CHILE

• Growing exports of grain and mineral commodities

- Region accounts for ~52% of global soybean

production

- Significant expansion in iron ore production

- Significant exporter to emerging market

economies, such as China

• Stable growth in oil demand

- 69% of Argentina’s refining capacity is located

near the Hidrovia and in the River Plate

- Paraguay does not produce any crude oil and

relies on imports from larger refineries in Argentina

• Reliance on waterborne transportation

- Shortage of highway or rail infrastructure

alternatives

- River system provides access to Atlantic Ocean

and global export markets

- River barges and coastal tankers are the most

cost-efficient method of transportation

Coastal

Cabotage

Trade

Navios

Oil

Products

Terminal

Navios

Dry Port

Terminal

Hidrovia

River

System

Source: Drewry, USDA November 2014

New Jumbo Barges: Even More Efficient Design

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One Jumbo Barge:

2,875 Tons

One Mississippi Barge:

1,500 Tons

~2x

Jumbo Hopper Car:

112 Tons

~26x

Large Semi:

26 Tons

~111x

One 16-Mississippi Barge

Convoy = 24,000 dwt

~2.1x 100-Car unit Train ~920x Large Semis (Trucks)

Source: IOWA Department of Transportation

One 20-Mississippi Barge

Convoy = 30,000 dwt

~2.7x 100-Car unit Train ~1,150x Large Semis (Trucks)

One 12-Jumbo Barge

Convoy = 34,500 dwt

~3.1x 100-Car unit Train ~1,330x Large Semis (Trucks)

=

=

=

=

=

=

Strategically Positioned to Serve the Soybean

Production…

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Hidrovia accounts for ~52% of

world soybean production

Mill

ion M

etr

ic T

ons

Note: Crop years for Soybean Production according to USDA definition, P = Preliminary, E = Estimate

Source: Drewry, USDA November 2014

Regio

n %

of W

orld

Hidrovia Region Soybean Production Uruguay Soybean Production

40%

45%

50%

55%

60%

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

180.0

00

/01

01

/02

02

/03

03

/04

04

/05

05

/06

06

/07

07

/08

08

/09

09

/10

10

/11

11

/12

12

/13

13

/14

P

14

/15

E

Soybean Production Region % of World

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Uruguay Soybean Production

Mill

ion M

etr

ic T

ons

Uruguay is the fastest growing soybean

producer in the region

…and the Corumba Region Iron-Ore Production

16 Source: Drewry

1.1 1.6 1.8 1.9 2.3

4.2 4.4 4.6 3.5

6.0 7.1

7.8 7.0

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Million Metric Tons Corumba Iron Ore Production

Source: Web site of the UNESCO/IHP Regional Office of Latin America and the Caribbean

Water requirement equivalent of main

food products

Global Virtual Water Imbalances Will Continue to be a Driver of Agricultural Trade

This table gives examples of water required per unit of

major food products, including livestock, which consume the

most water per unit. Cereals, oil crops, and pulses, roots

and tubers consume far less water.

Source: SIWI and IWMI, 2004

Product Unit Equivalent water

in m3 per unit

Fresh beef kg 15

Fresh lamb kg 10

Fresh poultry kg 6

Cereals kg 1.5

Citrus fruits kg 1

Palm oil kg 2

Puls, roots and tubers kg 1

North &

Central America

Africa

Asia

South

America

Europe

15% 8%

26%

6%

11% 13%

8% 13%

36%

60%

5% <1%

Australia

& Oceania

% of Global Water Supply % of Global Population

Fresh Water Availability vs. Population:

Grain Exports = Virtual Water Trade

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18

Q3 2014 Earnings Highlights

Track Record of Strong EBITDA Growth

19

136.8 165.6 178.6 190.7

144.2 158.9

51.2

69.1 68.4 46.4

42.4 35.8

2010 2011 2012 2013 9M2013

9M2014

Sales of Product

Time charter, voyage and port terminals revenue

32.5

39.0

48.1

56.8

42.5

53.5

2010 2011 2012 2013 9M2013

9M2014

Revenue ($ million) Adjusted EBITDA ($ million)

8.0%

CAGR

20.5%

CAGR

188.0

234.7 247.0

237.1

186.6 194.7

• $10 million(2) expected annualized EBITDA from

three new convoys (started operation in Q2 2014)

• Further EBITDA expected from three additional

convoys to be delivered and port terminal expansion

(2) EBITDA estimates assume expenses approximating current operating costs; 360 revenue days per year per convoy

(1) Adjusted EBITDA for the nine months ended September 30, 2014 has been adjusted to exclude $27.3 million loss on bond extinguishment

(1) 25.8%

Navios Logistics Q3 & Nine Months 2014

Earnings Highlights

20

(in $ ‘000)

Three months

ended

September 30,

2014

Three months

ended

September 30,

2013

Y-O-Y

Variance

Nine months

ended

September 30,

2014

Nine months

ended

September

30, 2013

Y-O-Y

Variance

Navios

Logistics

Revenue 79,136 49,819 59% 194,702 186,516 4%

Adjusted EBITDA 18,127 10,824 67% 53,5161 42,530 26%

Net income/(loss) 3,072 (956) n/a (18,540) 9,401 n/a

Adjusted net

income/(loss) 3,072 (956) n/a 8,7411 9,401 (7%)

Port

Terminals

Revenue 32,451 12,316 163% 66,574 71,734 (7%)

Adjusted EBITDA 8,773 8,270 6% 22,566 22,527 -

Barge

Business

Revenue 29,312 22,886 28% 80,290 71,955 12%

Adjusted EBITDA 5,674 1,270 347% 14,4691 8,655 67%

Cabotage

Business

Revenue 17,373 14,617 19% 47,838 42,827 12%

Adjusted EBITDA 3,680 1,284 187% 16,4811 11,348 45%

1. Adjusted EBITDA and Adjusted Net Income for the nine months ended September 30, 2014 have been adjusted to exclude $27.3 million loss on bond extinguishment

Navios Logistics Balance Sheet

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Selected Balance Sheet Data (in $'000)

September 30, 2014 December 31, 2013

Cash & cash equivalents 101,956 86,569

Accounts Receivable 23,841 21,503

Vessels port terminal and other fixed assets, net 462,884 395,879

Total Assets 805,352 712,060

Senior notes 375,000 293,156

Current portion of long term debt 69 69

Long term debt, net of current portion 407 459

Current portion of capital lease obligations 1,436 1,400

Capital lease obligations, net of current portion 21,282 22,359

Stockholders Equity 311,939 330,479

Book Capitalization 710,133 647,922

Net Debt / Book Capitalization 42% 36%

www.navioslogistics.com