Navios South American Logistics Inc. Company Presentation

Navios South American Logistics Inc. Company Presentation February 2016

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 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 or other client contracts. Words such as may, expects, intends, plans, believes, anticipates, hopes, estimates, and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenues and client contracts. 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 supply and demand for barges, pushboats, product tanker vessels and transshipment services; competitive factors in the market in which the Company operates; the loss of any customer or contract; the price of commodities we handle; 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 including its Forms 20-F and Forms 6-K. 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. EBITDA represents Net Income/(Loss) attributable to Navios Logistics stockholders before interest, taxes, depreciation and amortization. Adjusted EBITDA represents EBITDA excluding certain items as described under Earnings Highlights. EBITDA is presented because it is used by certain investors to measure a company's operating performance. 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 accounting principles generally accepted in the United States or as a measure of profitability or liquidity. While EBITDA is frequently used as a measure of operating performance, the definition of EBITDA used here may not be comparable to that used by other companies due to differences in methods of calculation. 2

Navios Logistics Overview 3

Navios Group Structure Navios Maritime Holdings Inc. (NYSE: NM) Controls 63-vessel dry bulk fleet; 40 owned and 23 long term chartered-in vessels. Global brand; Flexible business model Stable cash flow from charter out contracts and distributions from subsidiaries 2015 EBITDA: $133.4 million Share price: $0.95; per share value of investment in public subsidiaries = $1.51 20.1% 46.6% 63.8% Navios Maritime Partners L.P. (NYSE: NMM) MLP - 31 vessels 8 Capesize, 12 Panamax, 3 Ultra Handymax & 8 Containers 2015 EBITDA:$153.3 million 2015 Net Income: $41.8 million NM ownership: $19.9 million market value Navios Maritime Acquisition Corp. (NYSE: NNA) 38 vessels - 26 product tankers, 8 VLCCs, 4 chemical tankers leading company in tanker sector 2015 EBITDA: $220.8 million 2015 Net Income: $89.7 million NM ownership: $146.7 million market value Annual dividend: $0.20; 10.0% yield Navios South American Logistics Logistics operator in Hidrovia Core operations: Port Terminal facilities, barging & cabotage 2015 EBITDA: $80.4 million 2015 Net Income: $22.2 million 20-year contract with Vale for port services expected $35 million annual minimum EBITDA 60.85% All stock prices and yields as of February 17, 2016 Navios Maritime Midstream Partners L.P (NYSE: NAP) MLP - 6 VLCCs Long-term charters in tanker midstream sector Options on 5 VLCC dropdowns provide built-in fleet & distribution growth 2015 EBITDA: $62.2 million 2015 Net Income: $27.1 million Market value of NNA ownership: $123.9 million Annual dividend: $1.69; 17.2% yield 4

Navios Logistics Ownership Structure Navios Maritime Holdings Inc. NYSE: NM Peers Business Inc. 63.8% Ownership 36.2% Ownership Navios South American Logistics Inc. (Marshall Islands) Port Terminals Barge Business Cabotage Business 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 m 3 storage capacity 20-year contract with Vale for port services expected $35 million annual minimum EBITDA 362 (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 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 (1) Including three new building push boats to be delivered in Q1 2016 4

Navios Logistics Highlights Leading Logistics Provider in the Hidrovia Region of South America Multiple Avenues of Growth Favorable Market Fundamental Scale and Strong Asset Base Provide Operating Efficiency Strong Counterparties Focus on Contracted Cash Flow Seasoned Management Team with Strong Track Record and Established Brand 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 One of the largest Argentinean product cabotage fleet with an average age of 7 years New port infrastructure being constructed 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 Robust growth in exports of grain and mineral commodities Hidrovia system and coastal cabotage are critical infrastructure for region Economies of scale provide low costs per ton transported Integrated terminal, barge and cabotage network offers substantial operating leverage Diverse group of large, high-quality counterparties ADM, Bunge, Cargill, Dreyfus, Vale, Vitol, YPF among others Strategic positioning with fixed rate contracts and CoAs with minimum volume guarantees Long-term relationships with high contract renewal rates Strategic relationships Experienced management team Long operating history in region 5

Integrated Transportation and Storage Services Port Terminals Barge Business Cabotage Business Asset Base Bulk transfer and storage port terminal in Nueva Palmira, Uruguay Liquid port in San Antonio, Paraguay 291 dry barges 39 tank barges 1 27 pushboats 2 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 two barges currently being converted from dry to liquid expected to be delivered in Q1 2016 2. Including three new building push boats to be delivered in Q1 2016 6

Largest Independent Logistics Provider in Hidrovia Ports Barge Business Cabotage Largest Independent Dry Port in the Hidrovia One of the Largest Independent Liquid Ports in Paraguay # Barges & Pushboats 800 700 600 500 400 300 200 100 0 720 Top 5 Players 362 2 279 271 243 Ultrapetrol NSAL Fluvialba Interbarge ADM DWT ( 000) 100 90 80 70 60 50 40 30 20 10 0 87 National Shipping Top 5 Argentinean Coastal Cabotage Players by Tonnage 1 81 63 41 38 NSAL Antares Ultrapetrol Maruba Key Benefits of Large Scale Lower operating costs Greater market presence Higher quality charterers Strong strategic relationships (shipyards, commercial banks, etc.) 1. Includes vessels 5,000 29,000 DWT 2. Including three new building push boats to be delivered in Q1 2016 Sources: Drewry 8

Navios Logistics Presence Throughout Supply Chain Brazil Bolivia Paraguay Fuel Port Terminal Loading / Unloading 45,660 m 3 storage capacity Paraguay Barge Transportation 362 1 barges and push boats Dry and liquid cargos Uruguay Bulk Port Terminal Loading / Unloading 460,000 mt storage capacity Drying & conditioning facility Dry Port Liquid Port Iron ore Grains Liquid cargo Argentina 1. Including three new building push boats to be delivered in Q1 2016 Uruguay Exports Cabotage Transportation 6 ocean going tankers 2 self-propelled barges 1 bunker vessel Distribution of oil products 9

Market Overview 10

Hidrovia: Agricultural Heartland of South America Runs over 4,500 kilometers across the agricultural heartland of South America Comparable in length to the Mississippi system South America Hidrovia Region Mississippi Region Number of barges: ~ 3,000 Number of barges: ~ 29,000 Source: Drewry Significant Capacity for Growth 11

Favorable Market Fundamentals of Hidrovia VENEZUELA COLOMBIA ECUADOR Navios Oil Products Terminal PERU CHILE BOLIVIA ARGENTINA GUYANA SURINAME PARAGUAY URUGUAY Coastal Cabotage Trade FRENCH GUIANA BRAZIL Hidrovia River System Navios Dry Port Terminal Growing exports of grain and mineral commodities - Region accounts for ~54% 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 Source: Drewry, USDA February 2016 12

New Jumbo Barges: Even More Efficient Design One Jumbo Barge: 2,875 Tons One Mississippi Barge: 1,500 Tons Jumbo Hopper Car: 112 Tons Large Semi: 26 Tons ~2x ~26x ~111x One 16-Mississippi Barge Convoy = 24,000 dwt = ~2.1x 100-Car unit Train = ~920x Large Semis (Trucks) 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) = = Source: IOWA Department of Transportation 13

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 14/15P 15/16E 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 14/15P 15/16E Million Metric Tons Million Metric Tons Strategically Positioned to Serve the Soybean Production Hidrovia Region Soybean Production Uruguay Soybean Production 200.0 60% 4.0 180.0 3.5 160.0 140.0 120.0 100.0 80.0 55% 50% Region % of World 3.0 2.5 2.0 1.5 60.0 40.0 20.0 45% 1.0 0.5 0.0 40% 0.0 Soybean Production Region % of World Hidrovia accounts for ~54% of world soybean production Uruguay Soybean Production Uruguay is the fastest growing soybean producer in the region Note: Crop years for Soybean Production according to USDA definition, P = Preliminary, E = Estimate Source: Drewry, USDA February 2016 14

and the Corumba Region Iron-Ore Production Million Metric Tons Corumba Iron Ore Production 9 8 7 6 5 4 3 2 1 0 7.8 7.1 7.0 6.0 5.8 4.2 4.4 4.6 4.5 3.5 1.6 1.8 1.9 2.3 1.1 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Source: Drewry, Vale 15

Fresh Water Availability vs. Population: Grain Exports = Virtual Water Trade Water requirement equivalent of main food products North & Central America Europe Asia Product Unit Equivalent water in m3 per unit 15% 8% South America 26% 6% 8% 13% Africa 11% 13% 36% % of Global Water Supply % of Global Population 60% Australia & Oceania 5% <1% 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 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 Global Virtual Water Imbalances Will Continue to be a Driver of Agricultural Trade Source: Web site of the UNESCO/IHP Regional Office of Latin America and the Caribbean 16

Q4 & FY 2015 Financial Highlights 17

Navios Logistics Q4 & FY 2015 Earnings Highlights (in $ 000) Three months ended Dec 31, 2015 Three months ended Dec 31, 2014 P-O-P Variance FY ended Dec 31, 2015 FY ended Dec 31, 2014 Y-O-Y Variance Revenue 52,419 74,072 (29%) 251,048 268,774 (7%) Navios Logistics Adjusted EBITDA 15,942 15,255 4% 80,449 68,771 (1) 17% Net income/(loss) 1,358 1,836 (26%) 22,238 (16,704) n/a Adjusted net income 1,358 1,836 (26%) 22,238 10,577 (1) 110% Port Terminals Barge Business Cabotage Business Revenue 13,497 33,380 (60%) 81,729 99,954 (18%) Adjusted EBITDA 4,548 6,097 (25%) 29,907 28,662 4% Revenue 26,782 28,810 (7%) 105,974 109,100 (3%) Adjusted EBITDA 10,530 6,833 54% 38,186 21,303 (1) 79% Revenue 12,140 11,882 2% 63,345 59,720 6% Adjusted EBITDA 864 2,325 (63%) 12,356 18,806 (1) (34%) Revenue ($ million) EBITDA ($ million) 188.0 6% CAGR 234.7 247.0 237.1 268.8 251.0 32.5 39.0 48.1 20% CAGR 56.8 68.8 (1) 80.4 2010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015 (1) EBITDA and Net Income for the year ended December 31, 2014 have been adjusted to exclude $27.3 million loss on bond extinguishment 18

Navios Logistics 2015 Balance Sheet Selected Balance Sheet Data (in $'000) December 31, 2015 December 31, 2014 Cash & cash equivalents 81,507 71,931 Accounts Receivable 26,097 29,317 Deposits for vessels, port terminals and other fixed assets, net 44,254 23,225 Vessels port terminal and other fixed assets, net 427,860 443,625 Total Assets 785,619 786,133 Senior notes, net of deferred financing costs 367,178 366,250 Current portion of long term debt 69 69 Long term debt, net of current portion 321 390 Current portion of capital lease obligations 2,929 1,449 Capital lease obligations, net of current portion 17,720 20,911 Stockholders Equity 336,013 313,775 Book Capitalization 724,230 702,844 Net Debt / Book Capitalization 42% 45% $42.0 million undrawn export financing facility to finance the construction of the iron ore port 19

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