Company: CMDB
Filing Date: 2025-03-31
Form Type: 20FR12B
Source: 0001140361-25-011425
Chunk: 186

Company: Costamare Bulkers Holdings Ltd
Filing Date: 2025-03-31
Form: 20FR12B
Chunk 186
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 30 th day of the last month of each quarter or (B)    . 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**

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#### TABLE OF CONTENTS
special survey and dry-docking is scheduled to become due. If a special survey and dry-docking is performed prior to the scheduled date, the remaining unamortized balances are immediately written off. Unamortized balances of owned vessels that are sold are written off and included in the calculation of the resulting gain or loss in the period of the vessel’s sale.

#### Depreciation
We depreciate our owned vessels on a straight-line basis over their estimated remaining useful economic lives. The estimated useful lives of our owned