The most important factors in selecting ocean cruises have been steady for the past few TMR Outlooks. Nearly 4 out of 5 advisors said that the price/cost of the ocean cruise is the main reason why clients chose a particular vacation. Itineraries/destinations are equally important. Other factors are included amenities (73%), length of the cruise (66%), and experience and reputation of the cruise line (64%). One advisor said, “Most of my clients definitely want a more inclusive experience. They understand the higher costs and are willing to pay for the features.” Another identified, IMPORTANT FACTORS IN SELECTING AN OCEAN CRUISE VACATION Quality of Wi-Fi, food, and demographics of the passengers” as factors on the basis of which clients choose their ocean cruise. 11% 19% 28% 30% 33% 38% 48% 48% 51% 58% 63% 64% 66% 73% 78% 78% Cruise line follows sustainable practices Past customer testimonials/reviews Pre-or post-cruise vacation opportunities Age of the vessel Onboard entertainment/activities for children Diversity of onboard entertainment/activities Preferred departure port Size of the vessel Variety and/or quality of cuisine Advisor’s recommendation Availability for desired dates Experience and reputation of the cruise line Length of cruise Included amenities Specific itineraries/destinations Price/cost TRENDS IN OCEAN CRUISE CHART 5 | 13

Ocean cruises have come a long way from being a niche product aimed only at specific age groups. Over the last few Outlooks, advisors have shared that they plan to sell across multiple client segments. Affinity groups and clubs are the most popular segments with more than 4 out of 5 advisors saying that they plan to sell to them. It makes sense as cruise lines are also curating experiences that appeal to people in different age brackets and across specific interest groups — pickleball is an example. 10 Today, there are several cruise lines that offer pickleball experiences that also dock on different destinations. Similarly, there are book reading, jazz, and even Comic- Con themed cruises, making the travel appeal to a vast variety of people. 11 One advisor shared, PAST PERFORMANCE & OUTLOOK BY CLIENT SEGMENTS My focus for 2025 and beyond is to sell groups to places I want to travel to and host. And to sell to affinity groups with a common purpose/connection, whatever that may be. I’ll also be concentrating on solo travelers. 42% 47% 50% 58% 64% 67% 71% 72% 72% 76% 77% 79% 83% 83% Sold in the past Seniors Couples Empty nesters generational family Nuclear families Reunions Millennials Luxury/affluent Solo travelers Leisure groups Students/Gen Z Weddings Affinity/clubs Incentive/conference groups % Sold in the past 79% 84% 70% 74% 81% 79% 82% 77% 80% 79% 80% 79% 79% 78% Plan to sell in the next 24 months TRENDS IN OCEAN CRUISE 10 https://pickleballinparadise.com/pickleball-cruises/ 11 https://travel.usnews.com/features/the-best-themed-cruises 14 | CHART 6