Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 323

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 323
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 but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Ernst & Young (Hellas) Certified Auditors Accountants S.A.

We have served as the Company’s auditor since 2024.

Athens, Greece

March 31, 2025

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TABLE OF CONTENTS

COSTAMARE BULKERS HOLDINGS LIMITED Consolidated Balance Sheets As of December 31, 2023 and 2024 (Expressed in U.S. dollars)

|                                                           |     | December 31, 2023 |     | December 31, 2024 |
|:----------------------------------------------------------|:----|:------------------|:----|------------------:|
| ASSETS                                                    |     |                   |     |                   |
| CURRENT ASSETS:                                           |     |                   |     |                   |
| Cash and cash equivalents (Note 2(d))                     |     | $—                |     |            $4,495 |
| Accrued interest receivable                               |     | —                 |     |             1,610 |
| Total current assets                                      |     | —                 |     |             6,105 |
| OTHER NON-CURRENT ASSETS:                                 |     |                   |     |                   |
| Restricted cash, non-current (Notes 2(d) and 3)           |     | —                 |     |         2,100,000 |
| Total assets                                              |     | $—                |     |        $2,106,105 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: |     |                   |     |                   |
| Due to related parties (Note 3)                           |     | —                 |     |         2,100,000 |
| Total current liabilities                                 |     | —                 |     |         2,100,000 |
| COMMITMENTS AND CONTING