Company: CMDB
Filing Date: 2025-04-17
Form Type: 20FR12B/A
Source: 0001140361-25-014307
Chunk: 325

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-17
Form: 20FR12B/A
Chunk 325
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 CONTENTS

### COSTAMARE BULKERS HOLDINGS LIMITED

### Notes to Consolidated Financial Statements

#### December 31, 2023 and 2024
(Expressed in U.S. dollars, except share and per share data, unless otherwise stated)

#### 3. Due to related parties
In December 2024, certain of the Costamare’s subsidiaries (Note 1), Costamare, CMDB and CBSI entered into four new loan agreements. Said subsidiaries are borrowers under these loan agreements and CMDB and/or CBSI will become guarantors under the loan agreements immediately upon completion of the spin-off (Note 1). Under one of these loan agreements, Costamare transferred an amount of $2.1 million to CBSI’s bank account with the relevant bank to serve as pledged liquidity. During the year ended December 31, 2024, the interest earned on the pledged liquidity amounted to $6,105 and is separately reflected as Interest income in the accompanying 2024 consolidated statement of income.

#### 4. Common Stock
Common Stock represents 10,000 CMDB’s common shares issued to Costamare on July 11, 2024 at a par value of $0.0001 per common share.

#### 5. Subsequent events
(a) Internal reorganization: On March 27, 2025, as part of an internal reorganization, Costamare contributed to CMDB the shares of 67 wholly-owned companies, out of which 38 companies own dry bulk vessels, 17 companies have previously owned and sold or have agreed to sell their dry bulk vessels and 12 companies are to be used for future dry bulk vessel acquisitions. On the same date, CMDB further contributed these 67 companies to its wholly-owned subsidiary, CBSI.

(b) Loan commitment: On February 14, 2025, Costamare and CBSI, as joint and several borrowers, signed a commitment letter from a European financial institution for a hunting license loan facility of up to $100,000, subject to final documentation. Costamare will be released following the completion of the spin-off (Note 1).

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