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1Q25 Earnings Call Presentation 2 Safe Harbor 1Q25 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 1Q25 Performance Highlights Strong execution, backed by COAs and flexible business model Consistent execution on long-term COAs, supported strong TCE rate returns during a seasonally soft quarter, with TCE rates outperforming benchmark Panamax, Supramax and Handysize indexes by 33% Adjusted EBITDA decreased to $14.8 million in 1Q25, due to an overall decrease in market rates and TCE earnings during the quarter Continued to successfully integrate Strategic Shipping Inc. (“SSI”) dry bulk fleet in to our operating platform, unlocking operating efficiencies and enhancing returns across our broader fleet Announced new share repurchase program of $15 million and declared $0.05 quarterly dividend, diversifying shareholder return of capital program to maximize long-term shareholder value Entering the second quarter of 2025, market rates remain volatile and continue to reflect global macro and trade policy uncertainties. As of May 12, 2025, booked 4,275 days at an average of $12,524/day, a 25% premium to the benchmark indexes. First quarter 2025 GAAP net loss of $2.0 million, or $0.03 per share and Adjusted net loss of $2.2 million, or $0.03 per share 4 1Q 2025 Performance Summary Adjusted EBITDA $s in Millions Adjusted EPS $s per Share TCE Rate $s per Shipping Day Operating Cash Flow $s in Millions

5 Outperforming Industry Benchmark Our TCE has exceeded the market** by an average of 29% on a trailing 5-year basis Cargo Focused Business Model Consistently Delivers Above-Market Performance • Current 2Q25 booked TCE rate of $12,524, a 25% 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. * Q2 25 estimated TCE performance based on shipping days booked as of May 12, 2025 **Average of the published Panamax, Supramax and Handysize indices, net of commission 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) On November 6, 2024, the Company acquired the remaining 50% interest in NBP from a non-affiliate, resulting in full ownership of NBP's fleet of four Post Panamax Ice Class 1A dry bulk vessels. Purchased 7 vessels for $245 million Purchased 3 vessels for $83 million & Acquired 15 vessels for 18.06 million shares 2023 & 2024 MV Bulk Prudence - Ultramax 2021 & 2022 MV Bulk Brenton - Supramax MV Bulk Patience - Supramax Strategic Handysize Fleet of 15 vessels 7 Return of Capital Program Quarterly cash dividend and share repurchase program, support long-term shareholder value creation 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 Targeted dividend policy is aimed toward sustainability through the cycle Dividend payout has remained during various market conditions and strategic execution $15 million repurchase authorization allows for flexible and opportunistic capital deployment 8 Balance Sheet Update Ample liquidity to support ongoing growth of business Opportunistically invested in owned ship fleet Repaid over $11million in debt during 1Q25 through operating cash flow Capital allocation priorities will be balanced between debt repayment, fleet investment, opportunistic M&A and shareholder returns *Note: Total net debt as of 12/31/24 reflects $100mm in incremental finance lease obligations assumed as part of the SSI acquisition, which closed on 12/30/24.

9 SSI Fleet Merger: Strategic Rationale Commercially attractive handysize fleet will add scale and expand the foundation for growth across entire enterprise Expanding into handysize segment provides scale and diversification • Currently utilize handysize vessels to serve certain clients on a chartered-in basis • Additional vessels will allow us to further leverage our differentiated business model to improve fleet utilization and TCE returns • Expanded fleet will give us scale and capacity to grow presence with new and existing customers • Additional opportunity for synergies within our Ports and Terminals division Strengthening dry bulk operations team • Addition of highly experienced team of dry bulk professionals will provide experience and create platform for future growth Number of Owned Ships by Class Numbers of Ships Vessel DWT Year Vessel DWT Year Strategic Fortitude 37.829 2016 Strategic Alliance 39,850 2014 Strategic Resolve 38,853 2015 Strategic Unity 39,850 2014 Strategic Entity 39,856 2015 Strategic Synergy 39,865 2014 Strategic Explorer 39,856 2015 Strategic Savannah 35,542 2013 Strategic Venture 39,850 2014 Strategic Tenacity 36,851 2012 Strategic Equity 39,850 2014 Strategic Spirit 37,137 2012 Strategic Harmony 39,879 2014 Strategic Vision 37,137 2012 Strategic Endeavor 33,013 2010 SSI Handymax Dry Bulk Fleet 10 SSI Fleet Merger: Executing differentiated value creation strategy Fleet combination is consistent with key shareholder value creation objectives Integrated shipping- logistics model High fleet utilization Organic Investment Inorganic investment Return of capital Balance sheet optionality Expands scale of cargo solutions to support customer supply chains in the handysize segment Utilize chartered in fleet to arbitrage vessel positions and provide more revenue days Purchase vessels in support of existing long- term COA’s to maximize returns Expand capabilities to offer cargo movement beyond ocean transportation Sustain consistent dividend approach, not a payout formula Promote historical lending relationships, sustainable business plan, and consistent performance to secure favorable lending terms A fully integrated service offering from Handy to Post Panamax Expand owned fleet for growth using our unique business model Acquire logistics companies to grow in logistics sector Conserve capital for fleet renewal and opportunistic growth Maintain low net leverage and substantial free cash generation to provide flexibility in financing growth projects Additional volume and margin to ocean freight offerings Apply consistent approach to expand and renew fleet Compensate for volatility of dry bulk market by maintaining reasonable leverage Improved growth opportunities through scaled integration with shipping-logistics model Improving breadth of owned fleet improves overall utilization and ability to arbitrage vessel positions All-stock transaction protects consistent dividend program, preserves liquidity and minimizes financial leverage Addressed through SSI fleet combination 11 Macro Shipping Outlook Focused on providing comprehensive logistics solutions with targeted dry bulks Near Term Outlook (2Q25 & 3Q25) Medium Term Outlook (Full-Year 2025) Long-Term Outlook (2026 - 2027) • Significant US Infrastructure spending is expected to continue, creating favorable tailwinds for construction related raw materials. • US trade policy uncertainty may create volatility in market prices and trade patterns for commodities but demand remains resilient. • 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 12 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

13 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 Confidential: Pangaea Logistics Solutions Appendix 15 Selected Balance Sheet Data March 31, 2025 December 31, 2024 (in thousands,may not foot due to rounding) Current Assets Cash and cash equivalents $ 63,949 $ 86,805 Accounts receivable, net 47,915 42,371 Other current assets 64,039 62,818 Total current assets $ 175,903 $ 191,994 Fixed assets, including finance lease right of use assets, net 733,692 736,598 Goodwill 3,105 3,105 Other Non-current Assets 5,290 4,761 Total assets $ 917,989 $ 936,457 Current liabilities Accounts payable, accrued expenses and other current liabilities $ 43,847 $ 47,763 Current portion long-term debt and finance lease liabilities 44,811 44,687 Other current liabilities 20,339 16,658 Total current liabilties 108,997 109,108 Secured long-term debt and finance lease liabilities, net 341,839 352,685 Total Pangaea Logistics Solutions Ltd. equity 420,803 427,822 Non-controlling interests 46,350 46,843 Total stockholders' equity 467,153 474,664 Total liabilities and stockholders' equity $ 917,989 $ 936,457 16 Selected Income Statement Data Adjusted EBITDA represents net income (or loss), determined in accordance with U.S. GAAP, excluding interest expense, interest income, income taxes, depreciation and amortization, loss on impairment, loss on sale and leaseback of vessels, share-based compensation, other non-operating income and/or expense, and other non-recurring items, if any. (in thousands,may not foot due to rounding) March 31, 2025 March 31, 2024 Revenues: Voyage revenue $ 109,660 $ 87,291 Charter revenue 9,993 15,031 Terminal & stevedore revenue 3,149 2,427 Total revenue 122,802 104,749 Expenses: Voyage expense 60,307 37,115 Charter hire expense 17,641 27,143 Vessel operating expenses 22,178 12,669 Terminal Expenses 2,551 2,079 General and administrative 7,274 7,278 Depreciation and amortization 9,923 7,436 Total expenses 119,875 93,720 Income from operations 2,926 11,028 Total other expense, net (5,125) 1,638 Net income (2,199) 12,666 Income attributable to noncontrolling interests 218 (991) Net income attributable to Pangaea Logistics Solutions Ltd. $ (1,981) $ 11,674 Adjusted EBITDA (1) $ 14,774 $ 19,947

17 Reconciliation of Non-GAAP Measures Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Net Transportation and Service Revenue Gross Profit $ 10,228,418 $ 18,333,600 Add: Vessel Depreciation and amortization 9,896,013 7,408,995 Net transportation and service revenue $ 20,124,431 $ 25,742,595 Adjusted EBITDA Net (loss) income $ (2,198,674) $ 12,665,634 Interest expense, net 5,701,566 2,975,646 Income (loss) attributable to Non-controlling interest recorded as long-term liability interest expense — 815,102 Depreciation and amortization 9,923,492 7,436,473 EBITDA $ 13,426,384 $ 23,892,855 Non-GAAP Adjustments: Share-based compensation 1,531,600 1,138,677 Unrealized (gain) loss on derivative instruments, net (183,540) (5,084,339) Adjusted EBITDA $ 14,774,444 $ 19,947,193 18 Reconciliation of Non-GAAP Measures Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Earnings Per Common Share Net income attributable to Pangaea Logistics Solutions Ltd. $ (1,980,877) $ 11,674,176 Weighted average number of common shares - basic 63,851,090 45,214,519 Weighted average number of common shares - diluted 63,851,090 45,914,772 Earnings per common share - basic (0.03) 0.26 Earnings per common share - diluted (0.03) 0.25 Adjusted EPS Net income attributable to Pangaea Logistics Solutions Ltd. $ (1,980,877) $ 11,674,176 Non-GAAP Add: Unrealized (gain) loss on derivative instruments, net (183,540) (5,084,339) Non-GAAP adjusted net income attributable to Pangaea Logistics Solutions Ltd. (2,164,417) 6,589,837 Weighted average number of common shares - basic 63,851,090 45,214,519 Weighted average number of common shares - diluted 63,851,090 45,914,772 Adjusted EPS - basic $ (0.03) $ 0.15 Adjusted EPS - diluted $ (0.03) $ 0.14