Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 315

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 315
---
 |                         $663,115 |     | $1,195,401 |

F-29

TABLE OF CONTENTS

COSTAMARE BULKERS HOLDINGS LIMITED PREDECESSOR Notes to Combined Carve-out Financial Statements December 31, 2023 and 2024 (Expressed in thousands of U.S. dollars, except share and per share data, unless otherwise stated) 13. Interest and Finance Costs, net: The Interest and finance costs in the accompanying predecessor combined carve-out statements of operations are as follows:

|                                                                |     | For the years ended December 31, |     |         |
|                                                                |     |                             2023 |     |    2024 |
| Interest expense                                               |     |                          $25,540 |     | $22,885 |
| Derivatives’ effect                                            |     |                           -4,989 |     |  -4,231 |
| Amortization and write-off of financing costs                  |     |                              972 |     |   1,369 |
| Amortization of excluded component related to cash flow hedges |     |                            1,661 |     |   1,975 |
| Bank charges and other financing costs                         |     |                            1,622 |     |   1,505 |
| Total                                                          |     |                          $24,806 |     | $23,503 |

14. Taxes: Under the laws of the countries of incorporation for the vessel-owning companies and/or of the countries of registration of the vessels, the companies are not subject to tax on international shipping income; however, they are subject to registration fees and/or tonnage taxes, which are included in Vessel operating expenses in the accompanying predecessor combined carve-out statements of operation. The Company believes that CBI is not subject to tax on its income in its country of incorporation. The companies with vessels that have called at the United States during the relevant year of operation are obliged to file tax returns with the Internal Revenue Service. The applicable tax is 50% of 4% of U.S.-related gross transportation income unless an exemption applies. Management believes that, based on current legislation, the relevant companies are entitled to an exemption under Section 883 of the Internal Revenue Code of 1986, as amended. Companies with vessels may also be subject to tax in certain jurisdictions with respect to the shipping income from vessels that trade to such jurisdictions unless an exception applies under the relevant Double Taxation Agreement. 15. Deriv