1 RCL Advanced Emissions Purification Systems Selection

2 Project Realities Advanced Emissions Purification = “Scrubbers” or Exhaust Gas Cleaning Systems (EGCS) Selecting our vendors, both supplier and integrators was no accident This is a significant capital project Has potential for substantial guest, crew and operational impacts Must be “Fit For Purpose” not just type-approved Vast majority of the work to be done in service Guest, crew and contractor safety will not be compromised! Financial Considerations Capital investment is a 9 figure sum Operating costs must be minimized Despite recent fuel price drop, ROI still there as MGO vs IFO premium is still around $200 - $350 per ton location dependent

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5 CriteriaWeight ABCDE FGHIJ Acceptable plan to manage safety and environmental risks related to the system0.7% Meets Space and Stability limitations for specific vessel5.2% 234 i Center Center i Center Center Complies with RCL requirements for guest comfort & satisfaction3.4% No water spray (additional sud) on deck from normal AEP operation3.4% Plume conditioing0.2% Level of impact on passenger and public space arrangements3.9% 525 i Center Center i Center Center Lowest impact on Stability and Lightweight margin3.4% Can be incorporated into Engine Room with minimal changes to existing layout3.4% Can be incorporated into Uptakes and Funnel with minimal changes to existing layout (financial impact is captured in TCO)3.4% Maturity and experience of technology provider2.9% Ability to see their technology operation0.4% Ability to opererate in port (open loop)3.2% Ability to opererate in port (closed loop)3.2% Ability to be used by regular crew members0.7% Minimal operator interface0.7% i i i i i i i i i i

Hardware Suppliers 6

7 AEP Supplier Decision Drivers Commitment to R&D Commits to the TQP/FFP process Ability to advance to IMO type approval “Scheme A” Willingness to advance the technology Commitment to cruise ship solution Financial result Warranties extend to direct costs in the case of failure to meet technical or compliance standards Lowest operating cost Lowest total cost of ownership Lowest initial capital cost Warranty on tower (lifetime) and ancillary systems (near term)

8 AEP Supplier Decision Drivers (Cont.) Legislation Awareness of all international and national regulations (ports, territorial seas) Complies with key regulatory requirements, IMO, US EPA/USCG and EU Comply with SOLAS and class / marine industry safety regulations

9 AEP Supplier Decision Drivers (Cont.) Quality of service /partnership Willingness and ability to support Project Management Shared ownership of joint development initiatives Culture & organizational alignment w/RCL In case of AEP components only, supplier will offer installation PM and guarantee complete system Worldwide fleet support capability on spares and service Financial strength & reliability of company / sub suppliers Scalability / timeline Damages and costs in the case of failure to deliver on time Ability to meet the timelines Ability to increase production volume without sacrificing quality/safety

AEP Supplier Decision Drivers (Cont.) Technical Maturity / Fit Plume conditioning No water spray or soot on deck from normal AEP operation Minimal operator interface Can be incorporated into Uptakes and Funnel with minimal changes to existing layout Maturity and experience of technology provider Can be incorporated into Engine Room with minimal changes to existing layout Meet Space and Stability limitations for specific vessel

AEP Supplier Decision Drivers (Cont.) Technical Maturity / Fit (Cont.) Ability to be used by regular crew members Acceptable plan to manage system’s safety and environmental risks Complies with RCL requirements for guest comfort & satisfaction Ability to operate in ports and internal waters (closed loop) Lowest impact on Stability and Lightweight margin Level of impact on passenger and public space arrangements

Onboard Integrators/Installation 12

Integrators Decision Drivers (Cont.) Technical Capabilities & Experience Strength of design and installation strategy Experience with AEP (or other large retrofit) projects Awareness of RCL standards for guest comfort Quality of workmanship Continuous Improvement & Commitment to “Lean” Commits to TQP / FFP ISO certified (other relevant certifications) Willingness to improve installation process by 10% in quality, delivery & cost Financial Extended Warranties in case of failure of workmanship Lowest capital investment Financial strength to stand behind guarantees / warranties Rigor of budget management & project cost reporting Adherence with RCL’s invoicing requirements & documentation

Integrators Decision Drivers (Cont.) Project & Risk Management Ability to meet time lines Quality of planning & documentation Ability to scale core functions (without loss of quality) Ability & willingness to interface with various project stakeholders (i.e. Design Houses, Manufacturers, class, etc.) Strength and accuracy of reporting and communication tool Strength of material and procurement management Commitment to Safety, Health, & Environment Demonstrates robust safety plan and culture Strength of existing safety record Compliance with maritime safety regulations & procedures (i.e. SOLAS) Complies with RCL environmental policies and SQM procedures

Integrators Decision Drivers (Cont.) Quality of service / partnership / culture Level of administrative responsiveness Willingness to be flexible at minimal cost (e.g. Change Orders!) Experience and ability to manage intellectual property Accepts a “most favorable pricing – right of first refusal” clause Continuity of the management team Culture / organizational alignment World-wide fleet support Level of commitment to AEP industry

16 New/Emerging Regulatory Issues Future Impending Air Emissions Regulations IMO Annex VI NOx Tier III standards Black Carbon Other particulates Washwater Standards IMO Washwater Guidelines review at PPR2 National Standards US NPDES/VGP standards (pH 6.0 at discharge) Outright Prohibitions (e.g. Belgium) European Union Water Quality Framework

17 RCL Advanced Emissions Purification Systems Quality Review