Royal Caribbean Cruises LtdRCL

01Total revenues increased $747 million for the six months ended June 30, 2026 compared to the same period in 2025 The increase was primarily due to an increase in capacity and higher pricing in 2026 compared to the same period in 2025 Passenger ticket revenues increased 7.1% driven by 6.5% capacity growth from the addition of Star of the Seas and Celebrity Xcel As of June 30, 2026, the aggregate expected cost of ships on order was approximately $16.5 billion

02Onboard and other revenues include revenues from sale of goods and services not included in ticket prices, casino operations, and fees from third-party concessionaires who pay a percentage of their revenues The costs associated with concession revenues are minimal as the costs are mostly incurred by third-party concessionaires Passenger ticket revenues comprised 69% of 2026 total revenues

03Net cash provided by operating activities was $3.7 billion for the six months ended June 30, 2026, compared to $3.4 billion in 2025 Approximately 80% of the cost of ships on order for Global Brands have committed financing, all of which include sovereign financing guarantees As of June 30, 2026, we had approximately $14.3 billion of committed financing for ships on order

04We use Available Passenger Cruise Days to perform capacity and rate analysis to identify main non-capacity drivers Net Yields represent Adjusted Gross Margin per APCD Total cruise operating expenses increased primarily due to an increase in capacity, not per-unit cost inflation