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Dynagas LNG Partners 8.75% Series B Fixed to Floating Rate Cumulative Redeemable Perpetual Preferred Units.

Rate will be fixed at 8.75% until 11/22/2023 at which point it will float at a rate 3 month Libor plus a spread of 5.593%

Distributions for this security are qualified for tax purposes as Dynagas has chosen to be taxed as a C-Corp.

Ticker: DNLG-B

Parent Ticker: DLNG

OTC Grey Market Temporary Ticker: NA

Issuance Date: 10/16/2018

1st Call Date: 11/02/2023

Maturity Date: None

Shares Issued: 2,200,000

Overallotment Shares: 330,000

Coupon: 8.75%

Face Value: $25.00

Cumulative: Yes

Qualified: Yes

Quarterly Dividend Amount: 0.55

Payment Months: FEB, MAY, AUG, NOV

Payment Day: 22

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): D

Moody Rating: NR

Fitch Rating: NR