Basis of Presentation and General Information:

The accompanying consolidated financial statements include the accounts of Costamare Inc. (“Costamare”) and its wholly-owned subsidiaries (collectively, the “Company”). Costamare is organized under the laws of the Republic of the Marshall Islands.

November 4, 2010,

Costamare completed its initial public offering (“Initial Public Offering”) in the United States under the United States Securities Act of

1933,

as amended (the “Securities Act”). During the

six

-month period ended

June 30, 2019,

the Company issued

299,200

shares to Costamare Shipping Services Ltd. (“Costamare Services”) (Note

). On

July 6, 2016,

the Company implemented a dividend reinvestment plan (the “Plan”) (Note

). As of

June 30, 2019,

under the Plan, the Company has issued to its common stockholders

11,508,233

shares, in aggregate. As of

June 30, 2019,

the aggregate

issued share capital was

114,501,033

common shares. At

June 30, 2019,

members of the Konstantakopoulos Family owned, directly or indirectly, approximately

56.8%

of the outstanding common shares, in the aggregate. Furthermore, on

January 30, 2018,

the Company completed a public offering of

4,600,000

shares of its

8.875%

Series E Cumulative Redeemable Perpetual Preferred Stock (the “Series E Preferred Stock”), par value

$0.0001,

at a public offering price of

$25.00

per share.

As of

December 31, 2018

and

June 30, 2019,

the Company owned and/or operated a fleet of

and

container vessels, respectively, with a total carrying capacity of approximately

409,345

and

402,333

twenty

-foot equivalent units

(“

TEU”), respectively, through wholly-owned subsidiaries. The Company provides worldwide marine transportation services by chartering its container vessels to some of the world’s leading liner operators under long-, medium- and short-term time charters.

June 30, 2019,

Costamare had

wholly-owned subsidiaries incorporated in the Republic of Liberia and

ten

incorporated in the Republic of the Marshall Islands.

Revenues for the

six

-month periods ended

June 30, 2018

and

2019,

derived from significant charterers individually accounting for

10%

or more of revenues (in percentages of total revenues) were as follows:

	2018			2019
A		28	%		23	%
B		28	%		24	%
C		11	%		8	%
D		23	%		39	%
Total		90	%		94	%

The reconciliation of the cash, cash equivalents and restricted cash

for the

six

-month periods ended

June 30, 2018

and

2019

is presented in the table below:


	2018		2019
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents		124,392		98,563
Restricted cash – current portion		5,199		147,292
Restricted cash – non-current portion		30,256		38,043
Total cash, cash equivalents and restricted cash	$	159,847	$	283,898

The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do

not

include all the information and notes required by U.S. GAAP for annual financial statements. These statements and the accompanying notes should be read in conjunction with the Company's Annual Report on Form

-F for the fiscal year ended

December 31, 2018,

filed with the SEC on

March 7, 2019.

These unaudited interim consolidated financial statements have been prepared on the same basis as the Company's annual consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. Operating results for the

six

-month period ended

June 30, 2019,

are

not

necessarily indicative of the results that might be expected for the fiscal year ending

December 31, 2019.