Rcl Caribeen

lOVERVIEW

FINANCIALS

2012 Annual Meeting of Shareholders

PREMIUM HARDWARE

GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL STRUCTURE

SUMMARY

ROYAL CARIBBEAN CRUISES LTD.

WWW.RCLINVESTOR.COM

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FINANCIALS

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GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL STRUCTURE

SUMMARY

FORWARD LOOKING STATEMENTS

This presentation contains forward looking statements. Please note that actual results could differ materially from those contained herein. For a full discussion regarding the risks, uncertainties and other factors that could impact these statements, please see RCL’s annual and quarterly SEC filings or the company’s Investor Website – www.rclinvestor.com

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OVERVIEW

FINANCIALS

PREMIUM HARDWARE

GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL STRUCTURE

SUMMARY

Our Company

2

ND

3 SHIPS

on order in Germany

LARGEST

$7.5

BILLION

2011 Revenue

cruise company

4.9 MILLION

Guests carried in 2011

39

Ships

6 BRANDS

serving over

93,000

Berths

ports of call

400

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FINANCIALS

PREMIUM HARDWARE

GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL STRUCTURE

SUMMARY

OUR BRANDS

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OVERVIEW

FINANCIALS

PREMIUM HARDWARE

GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL STRUCTURE

SUMMARY

2011 Highlights

• • • • • • • Pricing and Occupancy Improvements Guest Satisfaction Levels Remain High EPS grew 40% to $2.77* Arab Spring/Japan Tragedy ≈ $0.65/share Celebrity Silhouette Delivery Strengthening Balance Sheet Dividend Reinstatement

* Versus 2010 EPS of $1.98 excluding legal settlement gain

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OVERVIEW

FINANCIALS

PREMIUM HARDWARE

GLOBAL EXPANSION

RATIONAL GROWTH

CONTROLLED COSTS/FUEL

CAPITAL...