Slide 1: Third Quarter 2023 Financial Results Conference Call
Third Quarter 2023 Financial Results Conference Call November 1, 2023
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 2023 Financial Results
Highlights (1/5) Q3 2023 – Financial Results ► Q3 2023 Net Income available to common stockholders of $53.3 million ($0.45 per share). ► Q3 2023 Adjusted Net Income available to common stockholders(1) of $53.9 million ($0.46 per share). ► Q3 2023 liquidity of $996.9 million(2). Notes 1. Adjusted Net
Slide 4: Highlights (2/5) Share Repurchases and Dividends
Highlights (2/5) Share Repurchase Program to Date ► Since our Q2 2023 earnings release, repurchase of 882,316 common shares for a total consideration of $10 million. ► Available funds remaining under the share repurchase programs: ❖ $30 million for common shares. ❖ $150 million for preferred shares.
Slide 5: Highlights (3/5) Dry Bulk and Lease Financing Platforms
Highlights (3/5) Dry Bulk Operating Platform ► Third full operational quarter of our newly set-up dry bulk operating company, Costamare Bulkers Inc. ("CBI"). ► Chartered-in 59(1) period vessels of a total capacity of c. 9.0 million dwt: ❖ 37 Newcastlemax/Capesize vessels. ❖ 22 Kamsarmax/Panamax vess
Slide 6: Highlights (4/5) Sale and Purchase Activity
Highlights (4/5) Sale and Purchase Activity ▶ Vessel Acquisitions: ❖ Conclusion of: ▪ the acquisition of the 2011-built, 175,975 DWT capacity dry bulk vessel, Enna, in August 2023. ▪ the acquisition of the 2011-built, 179,842 DWT capacity dry bulk vessel, Dorado, in August 2023. ▪ the acquisition of
Slide 7: Highlights (5/5) New Debt Financings and Capital Structure
Highlights (5/5) New Debt Financings and Capital Structure ► Financing of the acquisition of two dry bulk vessels through an existing hunting license facility. Total amount drawn of approximately $27.5 million. ► New hunting license facility(1) of up to $60 million in aggregate for the financing of
Slide 8: Strong Liquidity Position
Strong Liquidity Position ► Ample liquidity of $996.9 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 $7.3 million held by vessel-owning companies set-up purs
Slide 9: Container Market Environment
Container Market Environment Charter Rates (1) 12m Timecharter Rates ► Charter rates have softened mainly for the smaller sizes, 160.000 remaining though at above pre-covid levels. 120.000 80.000 ► The high orderbook remains the principal threat of the market. 40.000 0 Jan-20 Apr-20 Jan-21 Apr-21 Ja
Slide 10: Dry Bulk Market Environment
Dry Bulk Market Environment Average Spot Earnings (USD/p.d.) (1) Forward Freight Agreements Curve (2) 30.000 16.000 25.000 14.000 20.000 18,072 15.000 14,148 12.000 12,688 10.000 12,917 10.000 5.000 8.000 0 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 6.000 Capesize Panamax
Slide 11: Thank You Q&A
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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 2022 2023 earnings a
Slide 13: Appendix II – Dry Bulk Fleet
Appendix II – Dry Bulk Fleet No. Vessel Built Dwt No. Vessel Built Dwt No. Vessel Built Dwt Capesize Ultramax/Supramax Handysize 1 DORADO 2011 179,842 1 MERCHIA 2015 63,800 1 VERITY 2012 37,163 2 SEABIRD 2016 63,553 2 PARITY 2012 37,152 2 ENNA 2011 175,975 3 DAWN 2018 63,530 3 ACUITY 2011 37,149 4 O
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 Kamsarmax/Panamax 1 BERGE GROSSGLOCKNER 2017 211,182 2 GOLDEN SCAPE 2016 211,122 1 XING LE HAI 2022 85,038 3 SHANDONG PROSPERITY 2021 211,103 2 GIA INSPIRATION 2022 85,
Slide 15: Appendix IV – Containership Operating Fleet Charter Status (1/5)
Appendix IV – Containership Operating Fleet Charter Status (1/5) (1) Charterer Age Vessels 2 YM TIPTOP 2 YM TARGET 3 YM TOTALITY 3 YM TRUTH 3 YM TRIUMPH 12,000 – 15,000 TEUs 7 THESEUS 10x Vessels 7 TAURUS 7 TALOS 7 TITAN 7 TRITON Nov/23 Nov/24 Nov/25 Nov/26 Nov/27 Nov/28 Nov/29 Nov/30 Nov/31 7 CAPE
Slide 16: Appendix IV – Containership Operating Fleet Charter Status (2/5)
Appendix IV – Containership Operating Fleet Charter Status (2/5) Charterer Age Vessels(1) 10 VANTAGE 10 VALENCE / Confidential 10 VALIANT VALUE 10 7,500 – 10,000 TEUs 10 VALOR 18x Vessels / Confidential 13 NAVARINO 9 MSC AMALFI 9 MSC AJACCIO 27 KOTKA 9 MSC AZOV 27 KLEVEN 10 MSC ATHOS 10 MSC ATHENS 1
Slide 17: Appendix IV – Containership Operating Fleet Charter Status (3/5)
Appendix IV – Containership Operating Fleet Charter Status (3/5) (1) Charterer Age Vessels 20 METHONI 27 KURE 21 PORTO GERMENO 5,000 – 7,500 TEUs 22 PORTO CHELI 12x Vessels 21 PORTO KAGIO 19 ARGUS Confidential 19 ARIES 20 ZIM VIETNAM 20 ZIM AMERICA 18 MAERSK KOWLOON 23 ZIM TAMPA 17 GLEN CANYON Nov/2
Slide 18: Appendix IV – Containership Operating Fleet Charter Status (4/5)
Appendix IV – Containership Operating Fleet Charter Status (4/5) Charterer Age Vessels (1) 13 VULPECULA 14 VELA 12 NEOKASTRO 1,000 – 5,000 TEUs Confidential / Confidential 15 TRADER 23x Vessels Confidential 18 ETOILE / Confidential 22 LUEBECK 21 ULSAN Confidential 15 MICHIGAN 10 MARATHOPOLIS 10 MEGA
Slide 19: Appendix IV – Containership Operating Fleet Charter Status (5/5)
Appendix IV – Containership Operating Fleet Charter Status (5/5) Charterer Age Vessels(1) Confidential 14 NORFOLK 5 POLAR BRASIL 9 LEONIDIO 1,000 – 5,000 TEUs 9 KYPARISSIA 23x Vessels 13 VOLANS 16 SCORPIUS 13 ANDROUSA Confidential 14 GIALOVA 14 VIRGO ARKADIA 22 DYROS 15 Nov/23 Nov/24 Nov/25 Nov/26 N