q22022investorpresentati

SECOND QUARTER 2022 EARNINGS CONFERENCE CALL PRESENTATION 1

SAFE HARBOR This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pangaea’s and managements’ current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Pangaea’s business. These risks, uncertainties and contingencies include: business conditions; weather and natural disasters; changing interpretations of GAAP; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments; requirements or changes adversely affecting the business in which Pangaea is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition from other providers of logistics and shipping services; general economic conditions; geopolitical events and regulatory changes; and other factors set forth in Pangaea’s filings with the Securities and Exchange Commission and the filings of its predecessors. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that certain of Pangaea’s financial results are unaudited and do not conform to SEC Regulation S-X and as a result such information may fluctuate materially depending on many factors. Accordingly, Pangaea’s financial results in any particular period may not be indicative of future results. Pangaea is not under any obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise. 2

BUSINESS HIGHLIGHTS •Adjusted EBITDAof $44.2 million •Net income of $25 million •$102.2 million cash and cash equivalents Q2‐2022 Results •24 drybulk ships and one barge in owned and controlled fleet at June 30, 2022 Fleet •Operating 52 vessels on average during Q2 2022 •5.5 million tons carried; 102 voyages performed for 45 clients Operations 1) Adjusted EBITDA represents net income (or loss), determined in accordance with U.S. GAAP, excluding interest expense, income taxes, depreciation and amortization, loss on impairment, loss on sale and leaseback of vessels, share‐based compensation and other non‐operating income and/or expense, if any. Consistent Performance Working Fleet Extensive and varied experience 3

Customer Focus: Long‐term, fixed contract employment and recurring business with new and longstanding customers Targeted Business: Specialty tonnage provides consistent returns through fluctuating market cycles – 4% premium over average market rates in Q2‐22. Rate Environment: The Baltic Dry Index average increased for the second quarter of 2022 compared to the previous quarter. (1) Per reported indices DRIVERS OF PERFORMANCE 4 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 Baltic Dry Index (1)

2nd Quarter Highlights • Net income attributable to Pangaea Logistics Solutions Ltd. was $25.0 million for the three months ended June 30, 2022, as compared to $19.2 million for the same period of 2021. o Non‐GAAP adjusted net income attributable to Pangaea Logistics Solutions Ltd. was $28.9 million, as compared to non‐GAAP adjusted net income of $12.9 million for the three months ended June 30, 2021. o Adjusted Earnings per share of $0.64, as compared to $0.29 for the same period of 2021. • Diluted net income per share was $0.56 for the three months ended June 30, 2022, as compared to diluted net income per share of $0.43 for the same period of 2021. • Pangaea's TCE rates were $27,139 per day for the three months ended June 30, 2022, as compared to $21,053 per day for the three months ended June 30, 2021. • Adjusted EBITDA was $44.2 million for the three months ended June 30, 2022, as compared to $21.4 million for the same period of 2021. • At the end of the quarter, Pangaea had $102.2 million in cash and cash equivalents. Subsequent Business Update • On July 7, 2022, the Bulk Promise Corp term loan interest rate was fixed at 5.45% effective July 15, 2022 through maturity. • On August 5, 2022, the Company's Board of Directors declared a quarterly cash dividend of $0.075 per common share, to be paid on September 15, 2022, to all shareholders of record as of September 1, 2022. FINANCIAL HIGHLIGHTS 5

(in thousands,may not foot due to rounding) Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (unaudited) (unaudited) (unaudited) (unaudited) Revenues: Voyage revenue $ 173,189 $ 117,395 $ 349,526 $ 225,626 Charter revenue 22,355 28,149 37,781 44,891 Total revenue 195,544 145,544 387,306 270,517 Expenses: Voyage expense 67,908 46,113 133,158 93,952 Charter hire expense 65,713 62,604 143,425 116,239 Vessel operating expenses 12,930 9,773 26,118 18,268 General and administrative 5,137 6,030 10,419 10,235 Depreciation and amortization 7,293 4,869 14,595 9,288 Loss on impairment of vessels ‐ ‐ 3,008 ‐ Loss on sale of vessels 318 ‐ 318 ‐ Total expenses 159,299 129,388 331,040 247,982 Income from operations 36,245 16,156 56,266 22,535 Total other (expense) income, net (8,758) 3,421 (6,332) 3,549 Net income 27,487 19,577 49,935 26,084 Income attributable to noncontrolling interests (2,454) (350) (4,734) (1,003) Net income attributable to Pangaea Logistics Solutions Ltd. $ 25,032 $ 19,227 $ 45,200 $ 25,081 Adjusted EBITDA (1) $ 44,248 $ 21,360 $ 75,544 $ 33,439 1) Adjusted EBITDA represents net income (or loss), determined in accordance with U.S. GAAP, excluding interest expense, income taxes, depreciation and amortization, loss on impairment, loss on sale and leaseback of vessels, share‐based compensation and other non‐operating income and/or expense, if any. SELECTED INCOME STATEMENT DATA 6

SELECTED BALANCE SHEET & CASH FLOW DATA 7 The amounts in the table above have been calculated based on unrounded numbers. Accordingly, certain amounts may not sum due to the effect of rounding. (in thousands) June 30, 2022 December 31, 2021 Current Assets Cash and cash equivalents 102,175$ 56,209$ Accounts receivable, net 41,100 54,259 Other current assets 90,888 73,495 Total current assets 234,163 183,964 Fixed assets, including finance lease right of use assets, net 516,262 517,109 Advances for vessel purchases ‐ 1,990 Other Non‐current Assets 4,199 3,962 Total assets 754,624$ 707,024$ Current liabilities Accounts payable, accrued expenses and other current liabilities 65,305$ 49,154$ Related party debt ‐ 243 Current portion long‐term debt and finance lease liabilities 29,045 29,923 Other current liabilities 24,544 32,419 Total current liabilties 118,894 111,739 Secured long‐term debt and finance lease liabilities, net 276,026 276,796 Other long‐term liabilities 18,850 17,807 Total Pangaea Logistics Solutions Ltd. equity 287,640 247,202 Non‐controlling interests 53,213 53,479 Total stockholders' equity 340,854 300,681 Total liabilities and stockholders' equity 754,624$ 707,024$ Cash flows for the periods ended: June 30, 2022 June 30, 2021 Net cash provided by operating activities 69,225$ 19,534$ Net cash used in investing activities (10,192)$ (108,652)$ Net cash (used in) provided by financing activities (13,067)$ 81,336$

TOTAL SHIPPING DAYS 8 Capital Efficiency: Leveraged owned fleet by chartering‐in market vessels Flexibility: Short‐term charters allow us to react quickly and take advantage of arbitrage opportunities 1,566 1,461 1,372 1,615 1,968 2,081 2,115 2,202 3,168 3,407 3,296 3,108 3,337 3,118 2,664 2,501 ‐ 1,000 2,000 3,000 4,000 5,000 6,000 Q3‐20 Q4 ‐20 Q1‐21 Q2‐21 Q3‐21 Q4‐21 Q1‐22 Q2‐22 D ay s Owned Days Charter‐in Days

PANGAEA AVERAGE TCE vs. MARKET AVERAGE TCE 9 **Average of the published Panamax and Supramax index net of commission $13,316 $14,640 $16,524 $21,053 $28,770 $32,563 $26,472 $27,139 $10,286 $10,326 $16,261 $24,185 $32,033 $28,104 $22,637 $26,075 $‐ $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q3‐2020 Q4‐2020 Q1‐2021 Q2‐2021 Q3‐2021 Q4‐2021 Q1‐2022 Q2‐2022 PANGAEA AVG TCE V. MARKET AVERAGE TCE Pangaea Average TCE Market Average TCE

1) Adjusted EBITDA is a non‐GAAP measure and represents operating earnings before interest expense, income taxes, depreciation and amortization, share‐based compensation, loss on sale and leaseback of vessels and other non‐operating income and/or expense, if any. 2) TCE is defined as total revenues less voyage expenses divided by the number of shipping days, which is consistent with industry standards. TCE rate is a common shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per‐day amounts while charter hire rates for vessels on time charters generally are expressed in per‐day amounts. FINANCIAL PERFORMANCE Q3‐2020 THROUGH Q2‐2022 10 $‐ $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 Q3‐20 Q4 ‐20 Q1‐21 Q2‐21 Q3‐21 Q4‐21 Q1‐22 Q2‐22 ADJUSTED EBITDA(1) $‐ $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q3‐20 Q4 ‐20 Q1‐21 Q2‐21 Q3‐21 Q4‐21 Q1‐22 Q2‐22 TCE(2)

ADJUSTED EARNINGS PER COMMON SHARE 11 (1) Adjusted earnings per share represents net income attributable to Pangaea Logistics Solutions Ltd. plus, when applicable, loss on sale and leaseback of vessel, loss on impairment of vessel, gains and losses on derivative instruments, and certain non‐recurring charges, divided by the weighted average number of shares of common stock. Adjusted EPS total of $0.64 for Q2‐2022 0.20 0.10 (0.09) 0.09 0.19 0.14 0.09 0.29 0.48 0.56 0.35 0.64 (0.10) ‐ 0.10 0.20 0.30 0.40 0.50 0.60 0.70 Q3‐19 Q4‐19 Q1‐20 Q2‐20 Q3‐20 Q4 ‐20 Q1‐21 Q2‐21 Q3‐21 Q4‐21 Q1‐22 Q2‐22 Historical Adjusted EPS (1) $0.30 $0.71 $2.03

TCE OUTLOOK 12 * Q3 22 estimated TCE performance based on shipping days performed through August 5, 2022 **Average of the published Panamax and Supramax index net of commission $12,933 $15,915 $15,172 $10,508 $10,733 $13,316 $14,640 $16,524 $21,053 $28,770 $32,563 $26,472 $27,139 $25,522 ‐ 1,000 2,000 3,000 4,000 5,000 6,000 $‐ $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q2‐2019 Q3‐2019 Q4‐2019 Q1‐2020 Q2‐2020 Q3‐2020 Q4‐2020 Q1‐2021 Q2‐2021 Q3‐2021 Q4‐2021 Q1‐2022 Q2‐2022 Q3‐2022e Shipping Days Pangaea TCE Market Average TCE**