Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 276

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 276
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 and to CBI based on the charter-in days of the chartered-in third-party vessels. Management believes that these allocations reasonably present the financial position, results of operations and cash flows of the Company. For the years ended December 31, 2023 and 2024, total expenses allocated by Costamare amounted to $3,709 and $6,444, respectively. All transactions and balances between the Company and Costamare, which were not historically settled in cash, were considered to be effectively settled in cash in the predecessor combined carve-out financial statements at the time the transaction was recorded. The total net effect of the settlement of these transactions between the Company and Costamare were reflected in the predecessor combined carve-out statement of financial position and the predecessor combined carve-out statement of changes in equity as “Net parent investment”, which includes the expenses incurred by Costamare on behalf of Company. The Company, as represented by the entities in the predecessor combined carve-out financial statements, operated as distinct business units. Each unit had its own profit and loss responsibility, with its respective Board of Directors acting in the capacity of the Chief Operating Decision Maker. The Company does not use discrete financial information to evaluate operating results for each type of charter or vessel type, including both owned and chartered-in vessels. As a result, management reviews the operating results of the entire fleet as a whole. Therefore, it has been determined that the Company operates under a single reportable segment. For the predecessor combined carve-out financial statements as of December 31, 2024 and for the year ended December 31, 2024, the Company had evaluated the effects of subsequent events through March 31, 2025, the date these predecessor combined carve-out financial statements were available to be issued. Please refer to Note 18. As of December 31, 2024, the predecessor combined carve-out financial statements include the entities listed in Table 1 below: Table 1

| AA 
 1  
 2  |     | Company name                 
 COSTAMARE BULKERS INC.       
 COSTAMARE BULKERS SHIPS INC. |     | Vessel name 
 N/A         
 N/A         |     | Entity’s         
 establishment/   
 acquisition date 
 June 9, 2021     
 July 11, 2024    |     | Vessels’ delivery date 
 —                      
 —                      |
|:---|:----|:-----------------------------|:----|:------------|:----|:-----------------|:----