Company: CMDB
Filing Date: 2025-04-07
Form Type: 20FR12B/A
Source: 0001140361-25-012461
Chunk: 186

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-04-07
Form: 20FR12B/A
Chunk 186
---
 each vessel in our owned fleet and a quarterly fee of (i) $667,000 (adjusted for the number of days left in the quarter from and including the distribution date for the initial quarterly fee) and (ii) at Costamare Services’ election (A) an amount equal to the value of    , based on the average closing price of our common shares on the NYSE for the 10 days ending on the 30 th day of the last month of each quarter or (B)     shares. The total management fees paid by us to our managers for the years ended December 31, 2023 and 2024 amounted to $17.1 million and $15.0 million, respectively. The amounts charged by our related party managers include amounts paid to third-party sub-managers of $5.7 million and $4.2 million for the years ended December 31, 2023 and 2024, respectively. The fee structures under the Framework Agreement and Services Agreement are substantially similar to the fee structures that were in place for Costamare Inc. pursuant to the CMRE Framework Agreement and the CMRE Services Agreement prior to the spin-off.

During the years ended December 31, 2023 and 2024, we paid agency fees to the Agency Companies for their services on a cost basis (including all expenses related to the provision of the services) plus a mark-up (currently set at 11%) of $11.7 million, in aggregate, and $15.7 million, in aggregate, respectively, in connection with the operations of CBI. See “Item 7. Major Shareholders and Related Party Transactions—7.B. Related Party Transactions—Management and Services Agreements” for more information regarding management fees.

Amortization of Dry-docking and Special Survey Costs

All our owned vessels are dry-docked at least once every five years for inspection of their underwater parts and for repairs related to such inspections. For owned vessels that have passed their third special survey, a dry-dock is required every two and a half years thereafter. We follow the deferral method of accounting for special survey and dry-docking costs whereby actual costs incurred (mainly shipyard costs, paints and class renewal expenses) are deferred and amortized on a straight-line basis over the period through the date the next**

<div align='center'>91</div>

#### TABLE OF CONTENTS
special survey and dry-docking is scheduled to become due. If