Costamare Bulkers Holdings Limited · NYSE:CMDB

Costamare Bulkers — Q3 2025 Earnings Presentation

13 slides from Costamare Bulkers's earnings presentation, Nov 14, 2025

  1. Slide 1: Third Quarter 2025 Financial Results Conference Call

    Third Quarter 2025 Financial Results Conference Call November 14, 2025

  2. 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

  3. Slide 3: Highlights (1/5)

    Highlights (1/5) First full quarter results as an independent, publicly traded company Q3 2025 – Financial Results ► Q3 2025 Net Income of $7.4 million ($0.30 per share). ► Q3 2025 Adjusted Net Income(1) of $5.4 million ($0.22 per share). ► Q3 2025 liquidity of $290.5 million(2). ► Debt(3) of $159.3

  4. Slide 4: Highlights (2/5) Realignment of Trading Platform and Integration with Owned Fleet

    Highlights (2/5) Realignment of Trading Platform and Integration with Owned Fleet ► FFA and Forward Cargo Book transferred to Cargill(1). ► Further optimization of Chartered-in Fleet(2): ❖ 19 chartered-in vessels transferred or agreed to be transferred to Cargill. ❖ Early redelivery to owners of thr

  5. Slide 5: Highlights (3/5) Owned Fleet and Employment Strategy

    Highlights (3/5) Owned Fleet and Employment Strategy ► 31(1) owned dry bulk vessels of a total capacity of approximately 2.8 million DWT: ❖ 7 Capesize vessels out of which 6 are on period charters. ❖ 7 Kamsarmax vessels out of which 5 are on period charters. ❖ 8 Ultramax vessels all of which are on

  6. Slide 6: Highlights (4/5) Sale and Purchase Activity

    Highlights (4/5) Sale and Purchase Activity ► Vessel Disposals ❖ Conclusion of the previously announced sale of the below vessels, generating net sale proceeds after debt prepayment of $44 million: ▪ 2010-built, 58,018 DWT capacity dry bulk vessel, Pythias. ▪ 2011-built, 35,995 DWT capacity dry bulk

  7. Slide 7: Highlights (5/5) Debt Financing

    Highlights (5/5) Debt Financing ► Financed the acquisition of the Imperator through an existing hunting license facility: ❖ Amount drawn of approximately $15.3 million. ❖ Tenor of 6 years. ▶ Approximately $84.7 million is available, until December 2027, through one hunting license facility for the f

  8. Slide 8: Market Environment (1)

    Market Environment (1) Average Baltic TC Rates Forward Freight Agreements Curve – Cal 26 35.000 25.000 23,233 30.000 25,714 20.000 25.000 15,345 20.000 15.000 16,607 15,001 15.000 16,258 10.000 10.000 5.000 5.000 0 0 C5TC P5TC S11TC C5TC P5TC S11TC Orderbook for Dry Bulk Vessels 25% ► The FFA curve

  9. Slide 9: Thank you! Q&A

    Thank you! Q&A Costamare B ulkers Holdings Limited 9

  10. Slide 10: Appendix I - Net Income to Adj. Net Income Reconciliation

    Appendix I - Net Income to Adj. Net Income Reconciliation Expressed in thousands of U.S. dollars, Three-month period ended September 30 Adjusted Net Income and Adjusted Earnings per Share represent Net Income before non-cash “Accrued charter revenue” recorded under charters with escalating or descen

  11. Slide 11: 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 September 30 dividing (i) the aggregate number of our on-hire days and ballast days (excluding dry dock ballast days) in a perio

  12. Slide 12: Appendix III – Owned Vessels Fleet List

    Appendix III – Owned Vessels Fleet List # Vessel Name Type Capacity (DWT) Year Built Type Capacity (DWT) % 1 FRONTIER Capesize 181,415 2012 Capesize 1,253,703 44% 2 MIRACLE Capesize 180,643 2011 Kamsarmax 571,596 20% 3 PROSPER Capesize 179,895 2012 4 DORADO Capesize 179,842 2011 Ultramax 501,077 18%

  13. Slide 13: 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 1 81,800 Q2 2026 2 SHANDONG MISSION (2) 210,800 2021 November 2026 2 NEWB

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