Capital Product Partners L P : CPLP June 2024

Investor

Presentation

June 2024

capitalpplp.com

Important Notice

This presentation contains forward-looking statements (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These statements can be identified by the fact that they do not relate only to historical or current facts. In partic- ular, forward-looking statements include all statements that express forecasts, expecta- tions, plans, outlook, objectives and projections with respect to future matters, including, among other things, the expected financial performance of CPLP's business following the transaction, the conversion of CPLP to a corporation, CPLP's expectations or objectives regarding future distributions, and market and charter rate expectations. These forward- looking statements involve risks and uncertainties that could cause the stated or forecasted results to be materially different from those anticipated. For a discussion of factors that could materially affect the outcome of forward-looking statements and other risks and uncertainties, see "Risk Factors" in CPLP's annual report on Form 20-F filed with the SEC on April 23 2024. Any forward-looking statements made by or on behalf of CPLP speak only as of the date they are made. Unless required by law, CPLP expressly disclaims any obligation to update or revise any of these forward-looking statements, whether because of future events, new information, a change in its views or expectations, to conform them to actual results or otherwise. You are cautioned not to place undue reliance on forward-looking statements.

Non-GAAP Measures

This presentation contains non-GAAP measures, including Operating Surplus EBITDA and
Adjusted Free Cash Flow. Operating Surplus represents net income adjusted for
depreciation and amortization expense, exchange differences on Bonds and cash and
cash equivalents, change in fair value of derivatives, impairment, amortization / accretion
of above / below market acquired charters and straight-line revenue adjustments.
Operating Surplus is a quantitative measure used in the publicly traded partnership
investment community to assist in evaluating a partnership's financial performance and
ability to make quarterly cash distributions. Operating Surplus is not required by GAAP 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 GAAP or as
a measure of profitability or liquidity. Our calculation of Operating Surplus may not be
comparable to that reported by other companies. Please refer to slide 24 for definitions of	1
EBITDA and Adjusted Free Cash Flow.

01

Section

Who are Capital Product Partners? What do we do

Market

Introduction to Capital Product Partners

Current Fleet - 8x containers & 11x LNG carriers

Cap

▪

11x LNG carriers 174k cbm

$990.9m1

▪

1x 2020, 5x 2021, 2x 2023, 3x 2024 built

LNG carriers

▪

All on time charter - 74 yrs backlog of $2.4bn4

▪

Listed since 2007

▪

5x 2013 5,023 TEU vessels

- all debt free

▪

Core

supportive

shareholder

in

▪

1x 2022 13,312 TEU vessels

- all long term TCs

Capital Maritime & Trading Corp

Containers

▪

2x 2023 13,312 TEU vessels

▪ Group pivoting to energy transition

Growth fleet - to be delivered- 7x LNGC, 6x MGC & 4x LCO2 carriers

shipping

focusing on

LNG, LPG,

▪

7x LNG carriers 174k cbm on order

ammonia

and liquid CO2 (LCO2)

▪

Schedule 1x Q2 2024, 4x 2026 & 2x 2027

transportation

▪

On delivery 18 x LNG latest generation LNG carriers

▪

Gas

asset base

of $5.5bn2 on

a

LNG carriers

▪

6x MGC & 4x LCO2/multi gas carriers

fully delivered basis

▪

Capable of transporting LPG, ammonia and LCO2

▪ Opportunity from higher prices to

▪

Delivery schedule 6x 2026 and 4x 2027

Gas carriers

recycle

value

from

container

Container fleet to be sold opportunistically into rising prices and buoyant

assets into gas assets

short term market

1. As of June 10, 2024

CPLP moving from MLP to full corporation status on Nasdaq

Change in name to reflect pivot to LNG & Energy Transition Gas Shipping

2. Basis charter-attached valuations of all LNG/C and LPG assets, as of June 14, 2024

3

3. 4 x 22,000cbm vessels are mutli gas vessels that can carry LCO2

4. Estimates as of June 10, 2024. Including the LNG/C Apostolos expected to be delivered on June 28, 2024. Assumes the exercise of the first two options (total 4 years per vessel) for the three vessels on charter to BP, as the structure of the time charter party makes the exercise of these options highly likely. BP has already exercised their first option for the LNG/Cs Aristos I and Aristidis I

Modern & High-Specification Diversified Fleet

Pivot to energy transition shipping		Fleet Age

Ammonia

18 LNG Carriers

	Energy
LCO2	Transition	LNG
	8 Containers
	Shipping

Years
14.0
12.0		11.6
10.0
8.0
6.0
4.0	2.3
2.0
0.0	CPLP1	Industry 2

▪ State of the art, latest generation fleet with 19 vessels in the water and 17 on order

▪ All gas vessels have Dual Fuel (DF) propulsion or have been prepared for DF and boast numerous energy

LPG

saving devices.

▪ Designed to deliver lower unit freight cost and lower carbon footprint to customers compared to older designs.

4

1. As of June 10, 2024, including seven LNG/Cs expected to be delivered between the second quarter of 2024 and the first quarter of 2027 and ten LPG carriers expected to be delivered between the first quarter of 2026 and the third quarter of 2027
2. Industry average age data from Clarksons as of March 2024 weighted by dwt for the composition of the CPLP fleet

Diversified Contracted Revenue

Contracted Revenue Backlog: $2.8 billion

Million	Contracted Revenue*
$2,500
			$2,065.9
$2,000
$1,500
$1,000
$500		$453.1
$260.4
$0
2024 remaining	2025	2026+

High Quality & Diversified Customer Base

Contracted Revenue Contribution*

2%

4% 13%

14%

14%

12%

10%

18%	6%
5%

Ca. 85% of our contracted revenue, or $2.4 billion, come from LNG assets

5

• As of June 10, 2024, including remaining seven newbuilding LNG/Cs. Assumes the exercise of the first two options (total 4 years per vessel) for the three vessels on charter to BP, as the structure of the time charter party makes the exercise of these options highly likely. BP has already exercised their first option for the LNG/Cs Aristos I and Aristidis I. Excludes revenue of Axios II based on index-linked,one-year TC

CPLP Will have the Largest Fleet of Latest

Generation LNG Carriers

Two Stroke LNGC Fleet1

(Vessels)		(Years)

18

	13
11
	13	4
7				2
				0
				2
CPLP	FLNG CLCO	DLNG
			Newbuild		Delivered

2-stroke

vessels favored

Due to significant

environmental and efficiency

benefits

Owners of

Uncommitted

Vessels

LNGC Fleet Charter Duration2

5.7

	3.7	3.5	23% Capital
			CPLP is well positioned to take
			advantage of the strong LNGC
			term market with one the
			largest positions in
			uncommitted vessels among
			shipowners
			NA
CPLP	FLNG	DLNG	CLCO

1.	CPLP newbuilds figure represents the remaining vessels under construction, LNG/C Apostolos is expected to be delivered on June 28, 2024
2.	Peer charter duration figures represent a simple average of firm and optional charters as of June 10, 2024. CPLP figures represent a simple average of firm charters for the chartered LNG vessels	6
	(except for BP charters where the exercise of the first two options is assumed due to their structure)

Source: Companies' websites, public filings and presentations, analysts' reports

Charter Profile* - LNG Fleet

Contracted backlog of 74 years at an average daily rate of $88,540, or ca. $2.4bn of revenue

Backlog could increase to 109 years with all options exercised

Jun-24

Jun-25

Jun-26

Jun-27

Jun-28

Jun-29

Attalos

Aristos I

Aristidis I

Amore Mio I

Adamastos

Asterix I

Aristarchos

Asklipios

Axios II

Assos

Aktoras

Apostolos

Archimidis

Agamemnon

Alcaios I

Antaios I

Athlos

Archon

Under Construction		Firm Employment		Options		Open/Spot

Firm

2029

2027

2028

2026

2028

2030

2031

2031

2032

2034

2031

2034

-

-

-

-

-

-

With Options

2034

2032

2033

-

-

2032

2035

2035

2035

-

2038

2034

-

-

-

-

-

-

*Estimates as of June 10, 2024 including seven LNG/Cs expected to be delivered. Assumes the exercise of the first two options (total 4 years per vessel) for the three vessels on charter to BP, as the structure of the time charter party makes the exercise of these options highly likely. BP has already exercised their first option for the LNG/Cs Aristos I and Aristidis I

7

Charter Profile* - LPG & LCO2 Fleet

ContractedHigh specifibacklogation,ofdual76 yearsfuel LPGat anvessels,averagewithdailyincreasedrate of $capacity88,500, forcareduced. $2.4bnfreightof revenuecost LCO2Backlogvesselscouldcapableincr aseof transportingto 111 years wLithquidallCO2,optionsLPGexercisedand ammonia

Jun-24

Jun-25

Jun-26

Jun-27

Jun-28

Jun-29

Active

Amadeus

Aristogenis

Aridaios

Alkimos

Athenian

Aratos

Anios

Agenor

Andrianos

Under Construction		Firm Employment		Options		Open/Spot

Delivery

Jan-2026

Apr-2026

Jun-2026

Sep-2026

Sep-2026

Nov-2026

Feb-2027

Mar-2027

May-2027

Jul-2027

8

*Estimates as of June 10, 2024

Charter Profile* - Container Fleet

Contracted backlog of 30 years at an average daily rate of $38,327, or ca. $419.9 million of revenue

Backlog could increase to 49 years with all options exercised

Jun-24

Jun-25

Jun-26

Jun-27

Jun-28

Jun-29

Hyundai Prestige

Hyundai Premium

Hyundai Paramount

Hyundai Privilege

Hyundai Platinum

Manzanillo Express

Itajai Express

Buenaventura Express

Firm Employment		Options		Open/Spot

Firm

2025

2025

2025

2025

2025

2032

2033

2033

With Options

-

-

-

-

-

2038

2039

2039

9

* Estimates as of June 10, 2024