16 | CHART 3 TOP EUROPEAN DESTINATIONS SOLD FOR RIVER CRUISES TRENDS IN THE RIVER CRUISE SEGMENT Germany France Netherlands Hungary Austria Spain and Portugal Switzerland The Czech Republic (Czechia) Italy Croatia Romania United Kingdom Bulgaria Serbia Russia 0% 10% 90% 80% 70% 60% 50% 40% 30% 20% 8 https://www.travelmarketreport.com/articles/France-Drops-Remaining-COVID-19-Requirements-for-Travel Usually, clients don’t ask for a specific destination; they ask for a specific river (which then gives them several destinations) The sudden rise in popularity of France as a river cruise destination could be because it was only in August 2022 that the country dropped all COVID-19 restrictions for travelers 8 Across advisors, the most popular river cruises being sold in North America are for the Danube and Rhine. One advisor said, Germany is the most preferred cruise destination. Hungary and the Netherlands retain their share from las year, while the popularity of France jumps from 21% in 2022 to 72% in 2023. 2022 2023

CHART 4 | 17 A river cruise has multiple advantages over other vacation. Smaller ships mean that the guest size aboard a river cruise is intimate, exuding a feeling of luxury. As the ship trav- els along the river, one can easily access the continent’s bustling city centers with their many cultural attractions. With multiple offerings in a single booking, advisors say the typical river cruise client opts for the package because of the value it offers.. One advisor said, With over 400 protected UNESCO world heritage sites over 150 rivers that intersect the land, one of the best ways of exploring Europe is through its network of rivers 9 . TRENDS IN THE RIVER CRUISE SEGMENT 9 https://www.travelmarketreport.com/articles/France-Drops-Remaining-COVID-19-Requirements-for-Travel In recommending a river cruise to clients, I tell them that they are close to the city, they don’t have to pack and unpack, and it is almost all inclusive versus going from city to city and getting different transportation and wasting time between cities. You can eat and drink without searching where to eat, when to eat, and wasting time and money. KEY MOTIVATORS FOR TAKING A RIVER CRUISE VACATION 85% 67% 64% 45% 42% 37% 34% 29% 8% Cruising on a smaller ship with fewer number of guests Ease of access to city centers Bucket list experience/destination The value river cruising offers to the client Create new memories Celebrate personal occasions Explore the unknown and have fun Lifestyle/Element of exclusivity Celebrate professional achievements