Navios Maritime Acquisition Corporation (NNA) Q3 2020 Earnings Conference Call December 1, 2020 8:30 AM ET Company Participants Angeliki Frangou - Chairman, Chief Executive Officer Ted Petrone - Vice Chairman Leonidas Korres - Chief Financial Officer Conference Call Participants Chris Wetherbee - Citigroup Inc. Operator Thank you for joining us for Navios Maritime Acquisition Corporation's Third Quarter 2020 Earnings Conference Call. With us today from the company are Chairman and CEO, Mrs. Angeliki Frangou ...

Financial Performance - Navios Maritime Acquisition Corporation (NNA) Q3 2020 adjusted EBITDA increased by 552% to $371 million compared to $239 million in Q3 2019[10] - NNA's 9M 2020 adjusted EBITDA increased by 901% to $1660 million compared to $873 million in 9M 2019[10] - NNA reduced debt by $813 million, representing 7% of outstanding debt[6,10] - NNA's LTM Revenue is $3743 million and LTM Adjusted EBITDA is $2102 million[6] Fleet and Chartering Strategy - NNA has a modern and diverse tanker fleet of 54 vessels, including 14 VLCCs and 7 containerships, with an average age of nine years[6] - NNA has approximately $500 million in contracted revenue[6] - NNA's chartering strategy includes 383% of available days in 2021 fixed on base rate and 134% fixed with profit sharing arrangements, leaving 443% open[6,10] - NNA's core fleet for 2021 has 16576 available days[10,26] Market Overview and Outlook - VLCCs 20+ years of age represent 7% of the current fleet, with another 11% aging into that category in the next three years[7] - 115% of the VLCC fleet is engaged in floating storage as of November[7,37] - China's refinery capacity expansions will require an additional 42 VLCCs for 2020-2021 expansions and 45 VLCCs for 2022 expansions[7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 20-F _________________________________ (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report ______________ Fo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...