HispanicBusiness

(i) The charterer has a unilateral option to extend the charter of the vessel for two periods of 30 months each +/-90 days on the final period performed, at a rate of $41,700 per day.
(ii) The charterer has a unilateral option to extend the charter of the vessel for a period of 12 months +/-60 days at a rate of $27,500 per day.

                               COSTAMARE INC.                     Consolidated Statements of Income                             Nine-months ended        Three-months ended                               September 30,             September 30,                         ------------------------  ------------------------(Expressed in thousands of U.S. dollars, except share and per share amounts)                    2011         2012         2011         2012                         -----------  -----------  -----------  -----------                                             (Unaudited)REVENUES:Voyage revenue           $   280,165  $   290,962  $    99,886  $    94,886EXPENSES:Voyage expenses               (3,320)      (3,990)        (799)      (1,707)Voyage expenses - related parties              (2,110)      (2,161)        (753)        (709)Vessels' operating expenses                    (83,312)     (84,700)     (27,579)     (28,335)General and administrative expenses      (3,567)      (3,086)      (1,102)        (987)Management fees - related parties             (11,275)     (11,418)      (3,792)      (3,845)Amortization of dry- docking and special survey costs                 (6,139)      (6,017)      (2,096)      (2,081)Depreciation                 (58,092)     (60,182)     (20,079)     (20,301)Gain/ (Loss) on sale of vessels                      10,771       (4,296)           -       (5,599)Foreign exchange gains (losses)                         (4)         167          (77)         (25)                         -----------  -----------  -----------  -----------Operating income         $   123,117  $   115,279  $    43,609  $    31,297                         -----------  -----------  -----------  -----------OTHER INCOME (EXPENSES):Interest income          $       354  $     1,173  $        45  $       457Interest and finance costs                       (55,953)     (57,840)     (19,847)     (19,603)Other                            572          (93)          95            8Gain/ (Loss) on derivative instruments       (6,580)        (321)      (6,511)         358                         -----------  -----------  -----------  -----------Total other income (expenses)              $   (61,607) $   (57,081) $   (26,218) $   (18,780)                         -----------  -----------  -----------  -----------Net Income               $    61,510  $    58,198  $    17,391  $    12,517                         ===========  ===========  ===========  ===========Earnings per common share, basic and diluted                 $      1.02  $      0.89  $      0.29  $      0.18                         ===========  ===========  ===========  ===========Weighted average number of shares, basic and diluted                  60,300,000   65,582,847   60,300,000   67,800,000                         ===========  ===========  ===========  ===========                               COSTAMARE INC.                        Consolidated Balance Sheets                                                   As of          As of                                                December 31,  September 30,                                               -------------  -------------   (Expressed in thousands of U.S. dollars)         2011           2012                                               -------------  -------------                                                 (Audited)     (Unaudited)ASSETSCURRENT ASSETS:Cash and cash equivalents                      $      97,996  $     217,131Restricted cash                                        7,371          5,454Receivables                                            2,150          2,816Inventories                                            9,335         11,080Due from related parties                               3,585          3,354Fair value of derivatives                                  -            258Insurance claims receivable                            3,076          2,923Accrued charter revenue                               13,428          5,041Prepayments and other                                  1,910          2,528                                               -------------  -------------Total current assets                           $     138,851  $     250,585                                               -------------  -------------FIXED ASSETS, NET:Advances for vessels acquisitions              $     148,373  $     257,421Vessels, net                                       1,618,887      1,606,489                                               -------------  -------------Total fixed assets, net                        $   1,767,260  $   1,863,910                                               -------------  -------------NON-CURRENT ASSETS:Deferred charges, net                          $      32,641  $      33,605Restricted cash                                       38,707         41,902Accrued charter revenue                                5,086         14,405                                               -------------  -------------Total assets                                   $   1,982,545  $   2,204,407                                               =============  =============LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIES:Current portion of long-term debt              $     153,176  $     158,520Accounts payable                                       4,057          5,457Accrued liabilities                                   13,455         12,979Unearned revenue                                       6,901          8,557Fair value of derivatives                             46,481         54,725Other current liabilities                              2,519          2,406                                               -------------  -------------Total current liabilities                      $     226,589  $     242,644                                               -------------  -------------NON-CURRENT LIABILITIESLong-term debt, net of current portion         $   1,290,244  $   1,396,733Fair value of derivatives, net of current portion                                             125,194        138,040Unearned revenue, net of current portion              10,532         13,942                                               -------------  -------------Total non-current liabilities                  $   1,425,970  $   1,548,715                                               -------------  -------------COMMITMENTS AND CONTINGENCIESSTOCKHOLDERS' EQUITY:Common stock                                   $           6  $           7Additional paid-in capital                           519,971        620,554Accumulated deficit                                  (48,854)       (43,549)Accumulated other comprehensive loss                (141,137)      (163,964)                                               -------------  -------------Total stockholders' equity                     $     329,986  $     413,048                                               -------------  -------------Total liabilities and stockholders' equity     $   1,982,545  $   2,204,407                                               =============  =============