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Athens - May 27, 2025 Dynagas LNG Partners LP (NYSE: "DLNG") (the "Partnership"), an owner and operator of liquefied natural gas ("LNG") carriers, today announced its results for the three months ended March 31, 2025. Quarter Highlights: • Net Income and Earnings per common unit (basic and diluted) of $13.6 million and $0.28, respectively; • Adjusted Net Income(1) of $14.3 million and Adjusted Earnings per common unit(1) (basic and diluted) of $0.30; • Adjusted EBITDA(1) of $27.1 million; • 100% fleet utilization(2); • 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 to November 12, 2024 to February 11, 2025 and $ 0.677286319 per unit on the Series B Preferred Units (NYSE: DLNG PR B) for the period from November 22, 2024 to February 23, 2025; • 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; and • During the first quarter of 2025 and through the date of this press release, repurchased 216,185 common units under the Common Unit Repurchase Program, which authorizes the repurchase of up to an aggregate of $10 million of the Partnership's outstanding common units over the 12-month period beginning November 21, 2024 (the "Repurchase Program"), for a total amount of $0.8 million, at an average gross price of $3.62 per common unit. As of the date of this release, we have 36,530,944 common units outstanding and $9.0 million of remaining capacity under the Repurchase Program. (1) Adjusted Net Income, Adjusted Earnings per common unit and Adjusted EBITDA are not recognized measures under U.S. GAAP. Please refer to Appendix B of this press release for the definitions and reconciliation of these measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP and other related information. (2) Please refer to Appendix B for additional information on how we calculate fleet utilization. Recent Events: • Declared a quarterly cash distribution of $0.5625 on the Partnership's Series A Preferred Units for the period from February 12, 2025 to May 11, 2025, which was paid on May 12, 2025 to all Series A Preferred unitholders of record as of May 5, 2025; • Declared a quarterly cash distribution of $0.614808 on the Partnership's Series B Preferred Units for the period from February 24, 2025 to May 21, 2025, which was paid on May 22, 2025 to all Series B Preferred unitholders of record as of May 15, 2025; • Declared a quarterly cash distribution of $0.049 per common unit for the quarter ended March 31, 2025, which was paid on May 23, 2025 to all common unitholders of record as of May 19, 2025; and • On May 27, 2025, the Partnership elected to exercise its option to redeem, in full, 2,200,000 Series B Preferred Units, representing all of the Series B Preferred Units that are issued and outstanding. Please see "Full Redemption of Series B Preferred Units" below. Full Redemption of Series B Preferred Units On or about May 27, 2025, the Partnership issued, or will issue, a notice of full redemption to the holders of its 8.75% Series B Fixed to Floating Rate Cumulative Redeemable Perpetual Preferred Units (NYSE:DLNG PRB) (CUSIP No. Y2188B124) (the "Series B Preferred Units"), notifying such holders that the Partnership has elected to exercise its option to redeem all of the issued and outstanding Series B Preferred Units on July 25, 2025 (the "Redemption Date" and such redemption, the "Redemption"). After the Redemption, there will be no Series B Preferred Units outstanding and all rights of the holders of Series B Preferred Units will terminate, except the right of such holders to receive the Redemption Price (as defined below). Furthermore, because all of the issued and outstanding Series B Preferred Units are being redeemed, trading of the Series B Preferred Units on the New York Stock Exchange will cease prior to market open on the Redemption Date. The redemption price will be equal to $25.00 per redeemed Series B Preferred Unit, plus an amount equal to all accumulated and unpaid distributions thereon to the Redemption Date, whether or not declared (the "Redemption Price"), which will be payable in cash on the Redemption Date. The Partnership has designated Computershare Trust Company, N.A. as the paying agent for the Series B Preferred Units (the "Paying Agent"). The address of the Paying Agent is: 150 Royall Street, Suite 101, Canton MA 02021, Attn: Corporate Actions. All Series B Preferred Units are represented by a single certificate issued to The Depository Trust Company and registered in the name of its nominee, Cede & Co., and will be surrendered automatically to the Paying Agent in accordance with the applicable procedures of The Depository Trust Company or such nominee. The information in this press release regarding the Redemption does not constitute a notice of redemption of the Series B Preferred Units, and is neither an offer to purchase nor a solicitation of an offer to sell any Series B Preferred Units. CEO Commentary: We are pleased with our financial performance for the quarter. Net Income for the period was $13.6 million, or $0.28 per common unit, while utilization was 100%. We reported Adjusted EBITDA of $27.1 million and Adjusted Net Income of $14.3 million. These results underscore the strength of our contracts-based business model, which continues to shield us from the prevailing weakness in the short-term LNG shipping market. All six LNG carriers in our fleet are employed under long-term charters with leading international gas companies, with an average remaining contract duration of 5.7 years as of the date of this release. Barring any unforeseen events, we do not expect any vessel availability before 2028. Our estimated contract backlog stands at approximately $0.9 billion as of May 27, 2025. In line with our commitment to delivering unitholder value, we paid a quarterly cash distribution of $0.049 per common unit on May 23, 2025. We also continued to execute on our Repurchase Program, having repurchased 271,303 common units to date at an average price of $3.79 per unit, well below our estimated net asset value per unit. As of today, $9.0 million remains available under the Repurchase Program. Following the successful refinancing of our debt in June 2024, our balance sheet has strengthened meaningfully. Two of our vessels are now debt-free, and our annual debt amortization of $44 million represents 14% of our total outstanding debt of $312 million. We face no debt maturities until mid-2029. With contracted revenues exceeding our cash breakeven, we continue to generate cash each quarter, further improving our liquidity. As of March 31, 2025, our cash balance stood at $70 million. We intend to use this balance to fully redeem the outstanding $55 million Series B Preferred Units on July 25, 2025. Based on the latest distribution, the Series B units carried an annualized yield of 10.17% on their $25 liquidation preference. We expect annual cash savings of approximately $5.7 million as a result of the Redemption. While we remain insulated from short-term volatility in the LNG market, our strategy remains focused on disciplined capital allocation-prioritizing deleveraging, returning capital to common unitholders through cash distributions and common unit repurchases, and reducing cash outflows through initiatives such as the Series B Preferred Redemption. 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 About Dynagas LNG Partners LP Dynagas LNG Partners LP. (NYSE: DLNG) is a master limited partnership that owns and operates liquefied natural gas (LNG) carriers employed on multi-year charters. The Partnership's current fleet consists of six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic meters. Visit the Partnership's website at www.dynagaspartners.com. The Partnership's website and its contents are not incorporated into and do not form a part of this release. Dynagas LNG Partners L.P. - Press Release 
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