Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 252

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 252
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 on the distribution to the extent you have already been taxed on Costamare Inc.’s earnings (and your basis in your Costamare Inc. common shares will be reduced by such amount). If you made a “mark-to-market” election, as described below in “Taxation of U.S. Holders That Make a Timely ‘Mark-to-Market’ Election”, you will not be subject to the rules for “excess distributions” and will be taxed in the manner described above under “Consequences of the Spin-Off and Distribution of our Common Shares to U.S. Holders”, except that any dividend would not be eligible for the reduced rates applicable to “qualified dividend income”. We believe that Costamare Inc. will not be classified as a PFIC in the year of the Spin-off, but there can be no assurance that Costamare Inc. will not be so treated. You are encouraged to consult your own tax advisor regarding the PFIC rules and their possible application to the spin-off. Distributions on Our Common Shares Subject to the discussion of PFICs below, any distributions with respect to our common shares that you receive from us will generally constitute dividends, which may be taxable as ordinary income or “qualified dividend income” as described below, to the extent of our current or accumulated earnings and profits (as determined under U.S. tax principles). Distributions in excess of our earnings and profits will be treated first as a nontaxable return of capital to the extent of your tax basis in our common shares (on a dollar-for-dollar basis) and thereafter as capital gain. If you are a U.S. corporation (or a U.S. entity taxable as a corporation), you will generally not be entitled to claim a dividends-received deduction with respect to any distributions you receive from us. Dividends paid with respect to our common shares will generally be treated as “passive category income” for purposes of computing allowable foreign tax credits for U.S. foreign tax credit purposes. If you are an individual, trust or estate, dividends you receive from us should be treated as “qualified dividend income”; providedthat:

| (a) | the common shares are readily tradable on an established securities market in the United States (such as the NYSE); |

| (b) | we are not a PFIC for the taxable year during which the dividend is paid or the immediately preceding taxable year (see the discussion below under “PFIC Status”); |

| (c) | you own our common shares for