2Q24 Earnings Call Presentation 2 Safe Harbor 2Q24 Earnings Call Presentation This presentation may include 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. 3 2Q24 Performance Highlights Consistent financial performance and execution on capital priorities Favorable long-haul voyage demand across and solid base of premium long-term COAs, resulted in earned TCE rates exceeding the benchmark average Baltic Panamax and Supramax indices by 7%+ in 2Q24. Adjusted EBITDA was unchanged y/y at $15.9 million in 2Q24, as a 9% y/y increase in charter hire expenses per day and a 13%y/y increase in vessel operating expenses per day offset the 45% increase in market dry bulk rates and a 2% increase in shipping days. Announced acquisition of the Bulk Brenton and Bulk Patience for a combined price of $56.6 million. The acquisitions improve the amount of environmentally compliant fleet tonnage and increased the number of owned vessels to 26. Continue to execute on key capital allocation priorities, maintaining cash dividend of $0.10 per common share, to be paid on September 16, 2024. Entering the third quarter, demand activity in artic trade routes has accelerated while prevailing market rates have been mixed. As of August 7, 2024, booked 3,298 days at an average of $17,978/day. Refinanced and upsized a maturing credit facility in support of the acquisition of the Bulk Brenton and Bulk Patience in 3Q24. In conjunction with the refinancing, repaid $4.6 million of long-term debt. 4 2Q 2024 Performance Summary Adjusted EBITDA $s in Millions Adjusted EPS $s per Share TCE Rate $s per Shipping Day Operating Cash Flow $s in Millions $ 15.9 $ 15.9 2Q 24 2Q 23 $ 0 .10 $ 0 .10 2Q 24 2Q 23 $ 9 .0 $ 2.0 2Q 24 2Q 23 $ 16 ,223 $ 15,558 2Q 24 2Q 23

5 Outperforming Industry Benchmark Our TCE has exceeded the market by an average of 31% on a trailing 5-year basis Cargo Focused Business Model Consistently Delivers Above- Market Performance • Current 3Q24 booked TCE rate of $17,978, an 24% premium to the market average through the quarter.* • Our niche, higher- margin trades, long- term COAs and charter-in strategy remain key areas of differentiation. * Q3 24 estimated TCE performance based on shipping days booked as of August 7, 2024 **Average of the published Panamax and Supramax indices, net of commission - 1,000 2,000 3,000 4,000 5,000 6,000 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 D ay s TC E R at e ($ s p er S h ip p in g D ay ) PANL Total Shipping Days PANL TCE Rate Market TCE Rate** 6 Recent Vessel Acquisitions Disciplined acquiror of complementary assets MV Bulk Sachuest - Supramax MV Bulk Courageous - Ultramax MV Bulk Promise - Panamax MV Bulk Valor - Supramax MV Bulk Concord - Panamax MV Nordic Nuluujaak – Post Panamax(1) MV Nordic Qinnqua – Post Panamax(1) MV Nordic Sanngijug – Post Panamax(1) MV Nordic Siku – Post Panamax(1) (1) Vessels are owned through a Joint Venture, of which Pangaea owns 50%. Purchased 9 vessels for $242 million Purchased 2 vessels for $55 million 2023 & 2024 MV Bulk Prudence - Ultramax 2021 & 2022 MV Bulk Brenton - Supramax 7 Return of Capital Program Stable quarterly cash dividend supported by stable profitability Annual Dividend Payout Ratio % of Adjusted Net Income Total Annual Cash Dividend Paid $s per Share Annual Dividend Coverage Ratio Ratio of Operating Cash Flow to Dividends Issued Ta rg e te d d ivid e nd p o lic y is a im e d towa rd sust a ina b ilit y t h ro ug h the c yc le Divid e nd p ayo ut ha s inc re a se d a m id favo ra b le m a rke t co nd it io ns a nd s t ra te g ic exe c ut io n Im p rove d m a rg ins a nd c a sh co nve rs io n sup p o rt d ivid e nd cove ra g e d e sp ite vo la t ile d ry b ulk m a rke t 6 .3% 7.4 % 16 .5% 58 .0 % 20 20 20 21 20 22 20 23 $ 0 .0 2 $ 0 .11 $ 0 .30 $ 0 .4 0 20 20 20 21 20 22 20 23 22.9 x 11.2x 10 .1x 3 .0 x 20 20 20 21 20 22 20 23 8 Balance Sheet Update Ample liquidity to support ongoing growth of business O p p o rtunis t ic a lly inve ste d in ow ne d sh ip fle e t d uring 20 21 a m id a t t ra c t ive m a rke t d yna m ic s Re p a id ove r $ 35 m illio n in d e b t d uring 20 23 thro ug h o p e ra t ing c a sh flow a nd ve sse l sa le s Ca p it a l a llo c a t io n p rio rit ie s w ill b e b a la nce d b e twe e n d e b t re p aym e nt , fle e t inve stm e nt , o p p o rtunis t ic M&A a nd sha re ho ld e r re turns $ 116 .4 $ 255.5 $ 175.6 $ 16 8 .9 $ 175.1 $ 4 6 .9 $ 56 .2 $ 128 .4 $ 9 9 .0 $ 77.9 2.7x 2.4 x 1.3x 2.1x 2.1x 0.0x 0.5x 1.0x 1.5x 2.0x 2.5x 3.0x $- $50.0 $100.0 $150.0 $200.0 $250.0 $300.0 $350.0 2020 2021 2022 2023 2Q24 TT M N et D eb t/ A d j. E B IT D A $s in M ill io n s Total Net Debt Total Cash Net Leverage

9 Macro Shipping Outlook Focused on providing comprehensive logistics solutions with targeted dry bulks Near Term Outlook (2H24) Medium Term Outlook (Full-Year 2025) Long-Term Outlook (2026 - 2027) • While the situation in the Panama Canal has improved ton-mile demand remains elevated because of the disruption in the Red Sea and the Russian invasion of Ukraine. The 2nd half of the year is typically stronger due to the Northern hemisphere grain export season, which we also expect to contribute positively to the market rates for the rest of the year • US Infrastructure spending is beginning to ramp up, creating favorable tailwinds for construction related raw materials • Global dry bulk fleet growth is expected to remain limited amid limited new-building activity • Trade disruptions resulting from geopolitical tensions are expected to increase could create opportunities as trade looks to avoid regions of turmoil • Current risk to medium-term rate improvement is a more pronounced global recession • Clarity in emissions free fuel alternatives creates opportunity for fleet renewal and niche offerings • Supply chain reorganizations provide the opportunity for the Company to grow its logistics offerings with new and existing customers • Emissions regulations will continue to put pressure on markets as fleets age amid limited new and compliant vessels are built 10 Value Creation Strategy Durable business model insulated from macro volatility – focused on deploying capital to drive above-sector growth Integrated shipping- logistics model • Provide solutions to customer supply chain issues • More efficient, lower total cost of delivery for customer • Adds volume and margins to PANL ocean freight offerings High fleet utilization • Utilize chartered in fleet to arbitrage vessel positions and provide more revenue days Organic investment • Expand capabilities to offer cargo movement beyond ocean transportation • Expand owned fleet for growth using our unique business plan • Apply consistent approach to expand and renew fleet Inorganic investment • Purchase vessels in support of existing long- term COAs, to maximize returns • Acquire logistics companies to grow in logistics sector Return of capital • Sustain consistent dividend approach, not a payout formula • Conserve capital for fleet renewal and opportunistic growth • Compensate for volatility of sector by maintaining reasonable liquidity Balance sheet optionality • Promote historical lending relationships, sustainable business plan, and consistent performance to help provide favorable lending terms • Maintain low net leverage and substantial free cash generation to provide flexibility in financing growth projects • Consider joint ventures to help mitigate risks and create synergies 11 Investment Conclusion Small-cap growth play with stable return of capital program Integrated shipping-logistics model delivering consistent, above-market returns Focused on consistently high fleet utilization to drive operating leverage Positioned to benefit from tightening global supply of dry- bulk vessels amid continued demand growth On-shore logistics offering provides significant, incremental revenue opportunities Leading position within Ice-Class trades supports superior earned TCE rates Disciplined capital allocation strategy Long-term cargo-based contracts provide multi-year demand visibility Significant balance sheet optionality to pursue growth, low net leverage Co nfid e n t ia l: Pa ng a e a Lo g is t ic s So lu t io ns Appendix

13 Selected Balance Sheet Data (in thousands,may not foot due to rounding) June 30, 2024 December 31, 2023 (unaudited) (audited) Current Assets Cash and cash equivalents 77,947$ 99,038$ Accounts receivable, net 41,332 47,892 Other current assets 62,072 44,897 Total current assets 181,351 191,826 Fixed assets, including finance lease right of use assets, net 502,478 504,659 Goodwill 3,105 3,105 Other Non-current Assets 5,986 5,590 Total assets 692,921$ 705,180$ Current liabilities Accounts payable, accrued expenses and other current liabilities 39,258$ 35,836$ Current portion long-term debt and finance lease liabilities 33,530 52,722 Other current liabilities 11,181 16,776 Total current liabilties 83,969 105,334 Secured long-term debt and finance lease liabilities, net 215,510 211,713 Other long-term liabilities 16,632 17,937 Total Pangaea Logistics Solutions Ltd. equity 331,530 323,886 Non-controlling interests 45,279 46,310 Total stockholders' equity 376,809 370,196 Total liabilities and stockholders' equity 692,921$ 705,180$ 14 Selected Income Statement Data Ad just e d EBITDA re p re se n t s ne t inco m e (o r lo ss) , d e t e rm ine d in acco rd ance w ith U.S. GAAP, e xc lud ing in t e re s t e xp e nse , in t e re s t inco m e , inco m e t axe s , d e p re c ia t io n and am o rt iza t io n , lo ss o n im p a irm e nt , lo ss o n sa le and le a se b ack o f ve sse ls , sha re -b ase d co m p e nsa t io n , o the r no n-o p e ra t ing inco m e and / o r e xp e nse , and o the r no n-re curring it e m s, if any. (in thousands,may not foot due to rounding) 2024 2023 2024 2023 (unaudited) (unaudited) (audited) (audited) Revenues: Voyage revenue 124,096$ 110,466$ 211,386$ 218,416$ Charter revenue 3,847 7,090 18,878 12,839 Terminal & stevedore revenue 3,555 520 5,982 520 Total revenue 131,498 118,076 236,246 231,775 Expenses: Voyage expense 61,151 54,460 98,266 111,274 Charter hire expense 32,685 29,126 59,828 51,717 Vessel operating expenses 14,736 13,211 27,405 26,818 Terminal Expenses 2,828 375 4,908 375 General and administrative 5,030 5,923 12,308 11,615 Depreciation and amortization 7,454 7,127 14,890 14,454 Loss on sale of vessel - - - 1,172 Total expenses 123,884 110,221 217,604 217,424 Income from operations 7,614 7,855 18,642 14,351 Total other expense, net (3,621) (5,088) (1,983) (8,181) Net income 3,994 2,767 16,659 6,170 (Income) loss attributable to noncontrolling interests (311) 78 (1,302) 149 Net income attributable to Pangaea Logistics Solutions Ltd. 3,683$ 2,845$ 15,357$ 6,319$ Adjusted EBITDA (1) 15,931$ 15,923$ 35,878$ 32,161$ Six months ended June 30,Three months ended June 30, 15 Reconciliation of Non-GAAP Measures 6/30/2024 6/30/2023 6/30/2024 6/30/2023 (unaudited) (unaudited) (unaudited) (unaudited) Net Transportation and Service Revenue Gross Profit 12,671,400$ 13,805,410$ 31,005,001$ 27,192,817$ Add: Vessel Depreciation and amortization 7,426,197 7,099,516 14,835,191 14,398,898 Net transportation and service revenue 20,097,597$ 20,904,926$ 45,840,192$ 41,591,715$ Adjusted EBITDA Net Income 3,993,500$ 2,766,858$ 16,659,134$ 6,169,770$ Interest expense, net 3,147,421 3,083,156 6,123,067 6,283,824 Income (loss) attributable to Non-controlling interest recorded as long-term liability interest expense (119,950) 905,337 695,152 760,600 Depreciation and amortization 7,453,675 7,126,995 14,890,148 14,453,855 EBITDA 14,474,646 13,882,346 38,367,501 27,668,049 Non-GAAP Adjustments: Loss on sale of vessels - - - 1,172,196 Share-based compensation 528,673 267,073 1,667,350 1,123,507 Unrealized loss (gain) on derivative instruments, net 927,503 1,348,284 (4,156,836) 1,771,853 Other non-recurring items - 425,702 - 425,702 Adjusted EBITDA 15,930,822$ 15,923,405$ 35,878,015$ 32,161,307$ For the three months ended For the six months ended 16 Reconciliation of Non-GAAP Measures Earnings Per Common Share Net income attributable to Pangaea Logistics Solutions Ltd. 3,682,775$ 2,844,540$ 15,356,951$ 6,318,807$ Weighted average number of common shares - basic 45,276,791 44,775,438 45,245,655 44,744,039 Weighted average number of common shares - diluted 46,028,875 45,127,972 45,922,272 45,122,019 Earnings per common share - basic 0.08$ 0.06$ 0.34$ 0.14$ Earnings per common share - diluted 0.08$ 0.06$ 0.33$ 0.14$ Adjusted EPS Net income attributable to Pangaea Logistics Solutions Ltd. 3,682,775$ 2,844,540$ 15,356,951$ 6,318,807$ Non-GAAP Add: Loss on impairment of vessels - - - - Loss on sale of vessels - - - 1,172,196 Unrealized loss (gain) on derivative instruments, net 927,503 1,348,284 (4,156,836) 1,771,853 Other non-recurring items - 425,702 - 425,702 Non-GAAP adjusted net income attributable to Pangaea Logistics Solutions Ltd. 4,610,278 4,618,526 11,200,115 9,688,558 Weighted average number of common shares - basic 45,276,791 44,775,438 45,245,655 44,744,039 Weighted average number of common shares - diluted 46,028,875 45,127,972 45,922,272 45,122,019 Adjusted EPS - basic 0.10$ 0.10$ 0.25$ 0.22$ Adjusted EPS - diluted 0.10$ 0.10$ 0.24$ 0.21$