Slide 1: Third Quarter 2024 Financial Results Conference Call
Third Quarter 2024 Financial Results Conference Call November 1, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain “forward-looking statements” (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). All statements, other than statements of historical facts, that address activities, events or developments that Cost
Slide 3: Highlights (1/5) – Q3 2024 Financial Results
Highlights (1/5) Q3 2024 – Financial Results ► Q3 2024 Net Income available to common stockholders of $75.5 million ($0.63 per share). ► Q3 2024 Adjusted Net Income available to common stockholders(1) of $80.7 million ($0.68 per share). ► Q3 2024 liquidity of $1,019.2 million(2). Notes 1. Adjusted N
Slide 4: Highlights (2/5) – Sale and Purchase Activity
Highlights (2/5) Sale and Purchase Activity ► Vessel Acquisitions: ❖ Agreement for: ▪ the acquisition of the 2011-built, 179,546 DWT capacity dry bulk vessel, Nord Magnes (tbr. Magnes / expected to be concluded within Q4 2024). ▪ the acquisition of the 2014-built, 61,090 DWT capacity dry bulk vessel
Slide 5: Highlights (3/5) – Strong Chartering Performance
Highlights (3/5) Strong Chartering Performance ► Entered into more than 30 chartering agreements for our owned dry bulk fleet since the Q2 2024 earnings release. ► 100% and 94% of our containership fleet(1) fixed for 2024 and 2025, respectively. ► Contracted revenues for the containership fleet of a
Slide 6: Highlights (4/5) – Full Prepayment of Unsecured Bonds
Highlights (4/5) Full Prepayment of Unsecured Bonds ► Full prepayment of the €100 million aggregate principal amount of unsecured bonds issued by our wholly owned subsidiary, Costamare Participations Plc. ► The prepayment will be made with cash on hand on November 25, 2024. Debt Financings and Capit
Slide 7: Highlights (5/5) – Dry Bulk and Lease Financing Platforms
Highlights (5/5) Dry Bulk Operating Platform – Costamare Bulkers Inc. (“CBI”) ► Chartered-in 56(1) period vessels of a total capacity of c. 8.4 million dwt: ❖ 34 Newcastlemax/Capesize vessels with an average remaining tenor of 12 months. ❖ 22 Kamsarmax vessels with an average remaining tenor of 7 mo
Slide 8: Strong Liquidity Position
Strong Liquidity Position ► Ample liquidity of $1,019.2 million(1) for future growth. LIQUIDITY (1) 1.200 Cash, equivalents & st investments Credit lines 1.000 800 (in USD millions) 600 400 200 0 Notes 1. Including our share of cash amounting to $0.1 million held by vessel-owning companies set-up pu
Slide 9: Container Market Environment
Container Market Environment Charter Rates (1) 12m Timecharter Rates ► Charter rates continue to evolve at very firm levels, especially 160.000 in the larger segments, despite the recent decrease in the box 120.000 rates. 80.000 ► The uninterrupted delivery of newbuilding vessels remains the 40.000
Slide 10: Dry Bulk Market Environment
Dry Bulk Market Environment Average Spot Earnings (USD/p.d.) (1) Forward Freight Agreements Curve (2) 50.000 25.000 40.000 30.000 20.000 20.000 17,418 15,000 10.000 12,750 15.000 9,886 0 10.000 Nov 24 Dec 24 Cal 25 Capesize Kamsarmax/Panamax Supramax Handysize Capesize (C5TC) Panamax (P5TC) Supramax
Slide 11: Thank You Q&A
Thank You Q&A
Slide 12: Appendix I – Net Income to Adj. Net Income Reconciliation
Appendix Ι – Net Income to Adj. Net Income Reconciliation Expressed in thousands of U.S. dollars, Three-month period ended September 30 Adjusted Net Income available to common stockholders and Adjusted Earnings per Share represent Net Income after except share and per share data 2023 2024 earnings a
Slide 13: Appendix II – Owned Dry Bulk Fleet
Appendix II – Owned Dry Bulk Fleet No. Vessel Built Dwt No. Vessel Built Dwt No. Vessel Built Dwt Capesize Ultramax/Supramax Handysize 1 FRONTIER 2012 181.415 1 MERCHIA 2015 63.585 1 VERITY 2012 37.163 2 DAWN 2018 63.561 2 PARITY 2012 37.152 2 MIRACLE 2011 180.643 3 SEABIRD 2016 63.553 3 ACUITY 2011
Slide 14: Appendix III – Chartered-In Period Vessels – Costamare Bulkers Inc.
Appendix III – Chartered-In Period Vessels – Costamare Bulkers Inc. No. Vessel Built Dwt No. Vessel Built Dwt Newcastlemax/Capesize Post-Panamax/Kamsarmax 1 BERGE GROSSGLOCKNER 2017 211.171 1 PETALON 2010 87.328 2 SHANDONG PROSPERITY 2021 211.103 2 W-SMASH 2013 82.742 3 SHANDONG INNOVATION 2021 210.
Slide 15: Appendix IV – Containership Operating Fleet Charter Status (1/5)
Appendix IV – Containership Operating Fleet Charter Status (1/5) (1) Charterer Age Vessels 3 YM TIPTOP 3 YM TARGET 4 YM TOTALITY 4 YM TRUTH 12,000 – 15,000 TEUs 4 YM TRIUMPH 8 THESEUS 10x Vessels 8 TAURUS 8 TALOS 8 TITAN 8 TRITON Nov/24 Nov/25 Nov/26 Nov/27 Nov/28 Nov/29 Nov/30 Nov/31 8 CAPE AKRITAS
Slide 16: Appendix IV – Containership Operating Fleet Charter Status (2/5)
Appendix IV – Containership Operating Fleet Charter Status (2/5) Charterer Age Vessels(1) 11 VANTAGE 11 VALENCE / Confidential 11 VALIANT 11 VALUE 7,500 – 10,000 TEUs 11 VALOR 18x Vessels / Confidential 14 NAVARINO 18 COSCO HELLAS / Confidential 18 BEIJING 18 YANTIAN / Confidential 18 18 ZIM SHANGHA
Slide 17: Appendix IV – Containership Operating Fleet Charter Status (3/5)
Appendix IV – Containership Operating Fleet Charter Status (3/5) (1) Charterer Age Vessels 24 TAMPA I / Confidential 18 GLEN CANYON 21 METHONI 5,000 – 7,500 TEUs 28 KURE 12x Vessels 22 PORTO GERMENO 22 PORTO KAGIO 23 PORTO CHELI 20 ARGUS Confidential 20 ARIES 21 ZIM VIETNAM 21 ZIM AMERICA 19 MAERSK
Slide 18: Appendix IV – Containership Operating Fleet Charter Status (4/5)
Appendix IV – Containership Operating Fleet Charter Status (4/5) (1) Charterer Age Vessels 14 VULPECULA 15 VELA 1,000 – 5,000 TEUs 15 NORFOLK Confidential 23x Vessels 14 VOLANS 15 VIRGO 16 DYROS 24 AREOPOLIS 13 NEOKASTRO 20 LAKONIA 10 LEONIDIO Nov/24 Nov/25 Nov/26 Nov/27 Nov/28 Nov/29 Nov/30 Nov/31
Slide 19: Appendix IV – Containership Operating Fleet Charter Status (5/5)
Appendix IV – Containership Operating Fleet Charter Status (5/5) Charterer Age Vessels (1) 10 KYPARISSIA 16 TRADER 1,000 – 5,000 TEUs Confidential 19 ETOILE 23x Vessels 23 LUEBECK 6 POLAR BRASIL 14 ANDROUSA Confidential 15 GIALOVA 17 SCORPIUS 22 ULSAN Confidential 16 MICHIGAN 11 MARATHOPOLIS 11 MEGA