Costamare Bulkers Holdings Limited · NYSE:CMDB
Costamare Bulkers — Q1 2026 Earnings Presentation
12 slides from Costamare Bulkers's earnings presentation, May 13, 2026
Slide 1: First Quarter 2026 Financial Results Conference Call
First Quarter 2026 Financial Results Conference Call May 13, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could”, “expect” and simi
Slide 3: Highlights (1/4) – Q1 2026 Financial Results
Highlights (1/4) Q1 2026 – Financial Results ► Q1 2026 Net Income of $9.9 million ($0.41 earnings per share). ► Q1 2026 Adjusted Net Income(1) of $12.4 million ($0.51 earnings per share). ► Q1 2026 liquidity of $353.3 million(2). ► Cash(3) exceeding Debt(4) by $127.2 million as of the end of Q1 2026
Slide 4: Highlights (2/4) – Fleet Renewal
Highlights (2/4) Fleet Renewal ► Vessel Acquisition ❖ Conclusion of the purchase of the 2018-built, 60,297 DWT capacity dry bulk vessel, Astros (ex. Koushun)(1). ► Long-term Charter-in Agreements ❖ Delivery of the 2026-built, 81,800 DWT capacity dry bulk vessel, Hermes Century: ▪ Minimum tenor of ch
Slide 5: Highlights (3/4) – Operating Platform
Highlights (3/4) Operating Platform ► Completion(1) of the transfer of the majority of the trading book to Cargill. ► Current focus on Kamsarmax vessels. ► 20(2) chartered-in dry bulk vessels from third-party owners consisting of: ❖ Two Capesize vessels on period charters (one of which is expected t
Slide 6: Highlights (4/4) – Owned Fleet and Employment Strategy
Highlights (4/4) Owned Fleet and Employment Strategy ► 30(1) owned dry bulk vessels of a total capacity of approximately 2.7 million DWT: ❖ 6 Capesize vessels all of which are on period charters. ❖ 7 Kamsarmax vessels all of which are on period charters. ❖ 9 Ultramax vessels out of which 7 are on pe
Slide 7: Market Environment (1)
Market Environment (1) Average Baltic TC Rates Forward Freight Agreements Curve 45,000 50,000 41,551 40,000 40,000 35,000 30,000 30,000 20,000 19,391 19,165 25,000 10,000 20,000 0 15,000 10,000 5,000 C5TC P5TC S11TC Orderbook for Dry Bulk Vessels C5TC P5TC S11TC 24.00% 20.00% ► Charter rates showed
Slide 8: Thank you! Q&A
Thank you! Q&A Costamare B ulkers Holdings Limited 8
Slide 9: Appendix I - Net Income to Adj. Net Income Reconciliation
Appendix I - Net Income to Adj. Net Income Reconciliation Adjusted Net Income and Adjusted Earnings per Share represent Net Income before deferred Expressed in thousands of U.S. dollars, Three-month period ended March 31 charter-in expense, non-recurring, non-cash write-off of loan deferred financin
Slide 10: Appendix II – Owned Dry Bulk Fleet Utilization
Appendix II – Owned Dry Bulk Fleet Utilization (1) We calculate utilization of our owned dry bulk fleet (including vessels chartered-in by CBI) by Three-month period ended March 31 dividing (i) the aggregate number of our on-hire days and ballast days (excluding dry dock ballast days) in a period of
Slide 11: Appendix III – Owned Vessels Fleet List (1)
Appendix III – Owned Vessels Fleet List (1) # Vessel Name Type Capacity (DWT) Year Built Type Capacity (DWT) % 1 FRONTIER Capesize 181,415 2012 2 PROSPER Capesize 179,895 2012 Capesize 1,073,060 40% 3 DORADO Capesize 179,842 2011 Kamsarmax 571,596 22% 4 MAGNES Capesize 179,546 2011 Ultramax 561,374
Slide 12: Appendix IV – Chartered-In Vessels Fleet List (1)
Appendix IV – Chartered-In Vessels Fleet List (1) Earliest # Vessel Name Capacity (DWT) Year Built Redelivery to # Vessel Capacity (DWT) Estimated Delivery Owners 1 SHANDONG MIGHTINESS 210,896 2021 September 2026 1 NEWBUILDING 82,400 Q2 2027 – Q1 2028 (2) 2 CAPE PROTEUS 180,585 2011 April 2027 3 GRA
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