Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 202

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 202
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|                                           |     | -Expressed in millions of U.S. dollars |     |         |
| Predecessor Combined carve-out cash flows |     |                                        |     |         |
| Net Cash Used in Operating Activities     |     |                               $(196.8) |     | $(55.5) |
| Net Cash Used in Investing Activities     |     |                                 $(9.7) |     | $(46.8) |
| Net Cash Provided by Financing Activities |     |                                 $133.3 |     |  $116.9 |

Net Cash used in Operating Activities Net cash flows used in operating activities for the year ended December 31, 2024, decreased by $141.3 million to $55.5 million in outflows, from $196.8 million in outflows for the year ended December 31, 2023. The decrease in outflows is mainly attributable to (i) the increased net cash from operations, (ii) the favorable change in working capital position, excluding the current portion of long-term debt and the accrued charter revenue (representing the difference between cash received in that period and revenue recognized on a straight-line basis), (iii) the decreased payments for interest (including interest rate derivatives net receipts) during the year ended December 31, 2024 compared to the year ended December 31, 2023 and (iv) the decreased drydocking and special survey costs during the year ended December 31, 2024 compared to the year ended December 31, 2023. Net Cash Used in Investing Activities Net cash used in investing activities was $46.8 million in the year ended December 31, 2024, which mainly consisted of (i) settlement payment for the delivery of the secondhand dry bulk vessel Miracle, (ii) payments for the acquisition of the secondhand dry bulk vessels Prosper, Frontier, Magnes, Alwineand Augustand(iii) payments for upgrades for certain of our dry bulk vessels; partly offset by proceeds we received from the sale of the dry bulk vessels Manzanillo, Progress, Konstantinos, Merida, Alliance, Pegasus, Adventure, Oracle, Titan Iand Discovery. Net cash used in investing activities was $9.7 million in the year ended December 31, 2023, which mainly consisted of (i) payments for upgrades for certain of our dry bulk vessels, (ii) payments for the acquisition of the secondhand dry bulk