Dynagas LNG Partners LP (NYSE: “DLNG”) (the “Partnership”), an owner and operator of liquefied natural gas (“LNG”) carriers, announced its results for the three and twelve months ended December 31, 2024.

Twelve months Highlights:

• Net Income and Earnings per common unit (basic and diluted) of $51.6 million and $1.05, respectively;

• Adjusted Net Income of $54.2 million and Adjusted Earnings per common unit (basic and diluted) of $1.12,

• Adjusted EBITDA $115.0 million, and

• 100% fleet utilization.

Quarter Highlights:

• Net Income and Earnings per common unit (basic and diluted) of $14.1 million and $0.29, respectively,

• Adjusted Net Income of $15.0 million and Adjusted Earnings per common unit (basic and diluted) of $0.32,

• Adjusted EBITDA of $28.5 million,

• 100% fleet utilization,

• Declared and paid a cash distribution of $0.5625 per unit on the Partnership’s Series A Preferred Units (NYSE: “DLNG PR A”) for the period from August 12, 2024 to November 11, 2024 and $ 0.69999031 per unit on the Series B Preferred Units (NYSE: “DLNG PR B”) for the period from August 22, 2024 to November 21, 2024,

• Declared a quarterly cash distribution of $0.049 per common unit for the quarter ended September 30, 2024, which was paid on December 12, 2024,

• On November 21, 2024, the Partnership’s Board of Directors authorized the repurchase of up to an aggregate of $10 million of the Partnership’s outstanding common units to be made over the following 12 months (the “Program”). Repurchases of common units under the Program may be made, from time to time, in privately negotiated transactions, in open market transactions, or by other means, including through trading plans intended to qualify under Rule 10b-18 and/or Rule 10b5-1 of the U.S. Securities Exchange Act of 1934, as amended. The amount and timing of any repurchases made under the Program will be in the sole discretion of the Partnership’s management team, and will depend on a variety of factors, including legal requirements, market conditions, other investment opportunities, available liquidity, and the prevailing market price of the common units. The Program does not obligate the Partnership to repurchase any dollar amount or number of common units and the Program may be suspended or discontinued at any time at the Partnership’s discretion, and

• During the fourth quarter of 2024 and through the date of this press release, repurchased 55,118 common units under the Program for total net proceeds of $0.25 million, at an average price of $4.45 per common unit.

Subsequent Events:

• Declared a quarterly cash distribution of $0.5625 on the Partnership’s Series A Preferred Units for the period from November 12, 2024 to February 11, 2025, which was paid on February 12, 2025 to all Series A Preferred unitholders of record as of February 5, 2025,

• Declared a quarterly cash distribution of $0.677286319 on the Partnership’s Series B Preferred Units for the period from November 22, 2024 to February 23, 2025, which was paid on February 24, 2025 to all Series B Preferred unitholders of record as of February 14, 2025; and

• Declared a quarterly cash distribution of $0.049 per common unit for the quarter ended December 31, 2024, which was paid on February 27, 2025 to all common unitholders of record as of February 24, 2025.

CEO Commentary:

We are pleased with the financial results for the three months ended December 31, 2024.

For this quarter, our Net Income stood at $14.1 million, with earnings per common unit of $0.29. We achieved an Adjusted EBITDA and an Adjusted Net Income of $28.5 million and $15.0 million respectively. Our financial results reflect our stable, contracts-based operating model.

Currently, all six LNG carriers in our fleet are under long-term charters with international gas companies with an average remaining term of 5.9 years, as of the date of this release. We anticipate, assuming no unforeseen events, no vessel availability until 2028. As of March 6, 2025, our estimated contract backlog stands at approximately $1.0 billion. Following the refinancing of our outstanding debt in June 2024, our financial leverage has improved significantly with two of our vessels now debt-free and a reduced annual debt amortization of $44 million. With no debt maturities until 2029 and contracted cash flows above our cash breakeven point, we continue to focus on strengthening our balance sheet to ensure enduring financial flexibility and sustained enhancement of common unitholder value.

Russian Sanctions Developments

Due to the ongoing Russian conflict with Ukraine, the United States (“U.S.”), European Union (“E.U.”), Canada and other Western countries and organizations have announced and enacted numerous sanctions against Russia to impose severe economic pressure on the Russian economy and government.

As of today’s date:

• Current U.S. and E.U. sanctions regimes do not materially affect the business, operations or financial condition of the Partnership and, to the Partnership’s knowledge, its counterparties are currently performing their obligations under their respective time charters in compliance with applicable U.S. and E.U. rules and regulations; and

• Sanctions legislation continually changes and the Partnership continues to monitor such changes as applicable to the Partnership and its counterparties.

The full impact of the commercial and economic consequences of the Russian conflict with Ukraine is uncertain at this time. The Partnership cannot provide any assurance that any further development in sanctions, or escalation of the Ukraine conflict more generally, will not have a significant impact on its business, financial condition or results of operations. Please see the section of this press release entitled “Forward Looking Statements.”

Full report: Dynagas LNG Partners LP