Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 21

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 21
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 vessel in our owned fleet has been owned by us. For more information regarding how we calculate ownership days, please see “Item 5. Operating and Financial Review and Prospects—A. Operating Results”. |

|                                     |     | For the three-month period ended 
 March 31, 2024                   |     | June 30, 2024 |     | September 30, 
 2024          |     | December 31, 
 2024         |
|:------------------------------------|:----|:---------------------------------|:----|:--------------|:----|:--------------|:----|:-------------|
| Owned Dry Bulk Fleet Utilization(1) |     | 97.7%                            |     | 97.7%         |     | 98.7%         |     | 97.4%        |

| (1) | We calculate our owned dry bulk fleet utilization by dividing (i) the aggregate number of our on-hire days and ballast days (excluding dry dock ballast days) in a period of our owned dry bulk fleet (including vessels chartered-in by CBI) by (ii) the number of our available days (owned dry bulk fleet) during such period. We define available days (owned dry bulk fleet) as the number of our ownership days of our owned dry bulk fleet during a periodlessthe aggregate number of dry dock days and dry dock ballast days during such period. For more information regarding how we calculate our owned dry bulk fleet utilization, please see “Item 5. Operating and Financial Review and Prospects—A. Operating Results”. |

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TABLE OF CONTENTS

The Spin-Off Overview Costamare Bulkers Holdings was incorporated on September 29, 2023. Costamare Bulkers Holdings (i) serves as the ultimate holding company of the subsidiaries that held, hold or were formed for the purpose of holding all dry bulk vessels owned indirectly by Costamare Inc. and (ii) following the spin-off and the completion of the Restructuring Transactions, will also serve as the holding company of CBI, which contains Costamare Inc.’s dry bulk operating platform. Costamare Inc. currently owns and operates both dry bulk vessels and containerships. On February 27, 2025 Costamare Inc. announced its intention to separate its dry bulk related businesses into a new public company by means of a spin-off transaction. After the spin-off and the completion of the Restructuring