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Costamare Inc. Announces Pricing Of Its 8.50% Series C Preferred Stock

Costamare Inc. (the “Company”) (NYSE:CMRE) announced today that its offering of 4,000,000 shares of its 8.50% Series C Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share (the “Series C Preferred Stock”), was priced at $25.00 per share. The gross proceeds from the offering before the underwriting discount and other offering expenses are expected to be $100,000,000. The Company has also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of the Series C Preferred Stock. Dividends will be payable on the Series C Preferred Stock at a rate of 8.50% per annum of the stated liquidation preference. Following the offering, the Company intends to file an application to list the Series C Preferred Stock on the New York Stock Exchange.

The Company plans to use the net proceeds of the offering for general corporate purposes, including making vessel acquisitions or investments.

Morgan Stanley & Co. LLC, UBS Securities LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering, which will be made under an effective shelf registration statement. Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as co-managers.

The offering is expected to close on or about January 21, 2014.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus. A preliminary prospectus supplement and accompanying base prospectus relating to the offering has been filed with the Securities and Exchange Commission (“SEC”) and is available at the SEC’s website at http://www.sec.gov. When available, the final prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department, email: prospectus@morganstanley.com, UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attn: Prospectus Specialist, telephone: 1-877-827-6444, ext. 561 3884, or Credit Suisse Securities (USA) LLC, One Madison Avenue, New York, NY 10010, Attn: Prospectus Department, telephone: 1-800-221-1037.

The offering is subject to customary closing conditions.

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