Page 1

COSTAMARE INC . REPORTS RESULTS FOR THE FIRST QUARTER ENDED MARCH 31 , 2021 Monaco , June 1 , 2021 - Costamare Inc. ( " Costamare " or the " Company " ) ( NYSE : CMRE ) today reported unaudited financial results for the first quarter ended March 31 , 2021 ( “ Q1 2021 ” ) . I. COSTAMARE INC . II . PROFITABILITY Q1 2021 Net Income available to common stockholders of $ 60.5 million . Q1 2021 Earnings per Share of $ 0.49 . Q1 2021 Adjusted Net Income available to common stockholders ( 2 ) of $ 38.0 million . Q1 2021 Adjusted Earnings per Share ( 2 ) of $ 0.31 . ● COMMON DIVIDEND INCREASE Management of the Company announced that it will recommend to the Board of Directors that the Board approve a fifteen percent ( 15 % ) dividend increase , beginning with the second quarter 2021 dividend , raising the quarterly dividend from $ 0.10 to $ 0.115 per common share ( ¹ ) . III . ISSUANCE OF € 100m 5 - YR UNSECURED BOND AT 2.7 % In May 2021 , the Company , through its wholly owned subsidiary , Costamare Participations Plc , issued € 100 million of unsecured bond ( the " Bond " ) on the A thens Exchange . The Bond will mature in May 2026 and have a coupon of 2.7 % , payable semiannually . ● IV . SALE AND PURCHASE ACTIVITY Since the beginning of the year , total vessel acquisitions and deliveries of twelve vessels amounted to approximately $ 617 million . More specifically : c / v Cape Akritas ( acquisition of 51 % equity share previously owned by York Capital ) , 2016 built , 11,010 TEU containership chartered to MSC until June 2031 . c / v Cape Kortia ( acquisition of 75 % equity share previously owned by York Capital ) , 2017 built , 11,010 TEU containership chartered OMSC until July 2031 . c / v Cape Sounio ( acquisition of 75 % equity share previously owned by York Capital ) , 2017 built , 11,010 TEU containership chartered MSC until April 2031 . c / v Cape Tainaro ( acquisition of 51 % equity share previously owned by York Capital ) , 2017 - built , 11,010 TEU containership chartered to MSC until April 2031 . c / v Cape Artemisio ( acquisition of 51 % equity share previously owned by York Capital ) , 2017 - built , 11,010 TEU containership chartered to Hapag Lloyd until March 2025 . c / v Aries , 2004 - built , 6,492 TEU containership chartered to ONE until December 2022 . c / v Argus , 2004 - built , 6,492 TEU containership chartered to ONE until January 2023 . c / v Glen Canyon , 2006 - built , 5,642 TEU containership chartered to ONE until January 2022 . c / v Androusa , 2010 - built , 4,256 TEU containership chartered to Maersk until May 2023 . c / v Norfolk , 2009 - built , 4,259 TEU containership chartered to Maersk until May 2023 . Delivery of the 12,690 TEU containership YM Target chartered to Yang Ming until November 2030 . 1