Financial Management at Aida Cruises

FINANCIAL MANAGEMENT AT AIDA CRUISES

Marcel Gnoth, FP&A Munich, April 2018

Company presentation

Financial Management at AIDA Cruise

Driver-based mid- and long-term planning

With the most beautiful smile across the oceans you experience a beautiful vacation. Our ships welcome you with generosity and variety. No matter if you are First Timer or Repeater – we offer you a variety of individual offers and unforgettable moments. The best: Despite the variety we focus on exceptional quality. Excellent food, a great Spa & Sports area as well as extraordinary entertainment will inspire you. Holiday a new way.

2,200 2,000 1,800 +11.1% 1,600 1,400 1,200 1,000 800 600 400 200 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Passenger 763 907 1,027 1,219 1,388 1,544 1,687 1,771 1,813 2,018 2,188 in `000

YoY in % 8.2% 18.9% 13.2% 18.7% 13.9% 11.2% 9.3% 5.0% 2.4% 11.3% 8.4%

Source:CLIA report “2016 Statistics & Markets Europe“, CLIA press release March 2018 4

With 12 ships we have the most modern fleet worldwide We are one of the fastest growing and most successful travel companies in Germany Until 2021 we will put two new ships into service

AIDAcara AIDAvita/aura AIDAdiva/bella/luna AIDAblu/sol/mar/stella AIDAprima/perla Two newbuilds 1996 2002 – 2003 2007 – 2009 2010 – 2013 2016 – 2017 until 2021 5

Product Features Improved variety of cabins types (single veranda cabins, family cabins, Penthouse Suite) High variety of restaurants (17): new dimension of service restaurants such as Dinner Entertainment Restaurant “Time Machine”, authentic taste of Asia in “Hot Pot Restaurant” and new “Street Food Passage” New Generation of entertainment with Penthouse Suite Time Machine Entertainment real TV production at StudioX, a 360° Theatrium and a mystery room Premium shopping outlets allowing a new shopping experience Futuristic Art & Picture Club with lobby Hot Pot Art & Picture Club The Rockbox bar

Brand Awareness 2017

72% Over 1 Million guests in 2017 44% 50 Million Germans know 39% AIDA 10 Million Germans 38% would like to spend their vacation with AIDA 32%

28%

Source: F.U.R. Reiseanalyse 2017 7

Donations, e.g. for SOS Kinderdorf e.V., GEOMAR Helmholtz Centre for Ocean Research Kiel We are members of the foundation “Stiftung 2°” LNG Hybrid Barge “Hummel”: energy supply with LNG in Hamburg Dual-Fuel-engines on AIDAprima: She is the world's first cruise ship to operate using environmentally friendly liquid natural gas (LNG) Increase of energy efficiency: By hydrodynamic ship’s design Azipod propulsion “Green Cruising”: Starting 2019, AIDA will be the world's first cruise line to operate its new generation of ships with 100 percent LNG 8

Our Guests Our Offer

> 22.500 lower berths Nearly 800 cruise offers Around 8.6 mil. overnight stays in 2016 > 210 different ports world wide 92% Guest satisfaction > 3.800 shore excursions

Our Employees Our Responsibility

10.000 employees from > 40 countries 100 mil. € investments in environmental technologies 9.000 aboard, 1.000 ashore in Rostock and Hamburg 70% European, 50% German Vendors

105 ships Over 10 million guests per year 50% market share worldwide Over 120.000 employees world wide 9 brands under one roof Listed in the FTSE 100 & S&P 500

Company presentation

Financial management at AIDA Cruises

Driver-based mid- and long-term planning

So far (1) Interface between Controlling and Manager remains untouched (2) There will be another (1) interface between the business Business Controlling and Commercial Analytics (2/4) (3) CA (3) Controlling and Commercial Analytics stay connected, but Today have clear separated roles and responsibilities (4) CA will be part of the (1) planning-, reporting- and Business Controlling forecasting-Processes to improve (4) the overall performance (2) (3) Commercial Analytics are to be Commercial engaged by the business Analytics (CA)

Forecast- and plan scenarios are created by flexibly combining assumptions about drivers and effects of measures Assumptions will be done „middle up“ on BU-level and driver models will be improved constantly Main KPIs are derived through simulations using driver models based on actual data Focus on objectives and measures to increase quality of planning

13 Source:Valsight

Company presentation

Financial management at AIDA Cruises

Driver-based mid- and long-term planning

Influencing factor Planning process

Excel-based Strong business growth long-term planning

Historical grown Dynamic environment and complex models Restructuring of the Finance function Time-consuming Complex business model and error-prone adjustments

Increasing product Limited reporting differentiation capabilities

2. Mid- & long-term 4. Operational 1. Strategy 3. Target Setting planning Planning

Goals Requirements

Forward-looking planning and scenario-based Driver-based models thinking through creating and comparing of different Simulations combinations of assumptions and measures

Improved data quality to enable driver-based Integration of data source simulations and derivation of relevant key Verified data model without manual inputs („stop performance indicators using excel“)

Increased efficiency through focus on measures State-of-the-art software-solution and activities to supporting strategy execution Multi-user-capabilitiy

More agility and transparent reporting of results Better reporting functionalities and presentation of reconciliations Visualization and real-time adjustments

Szenario Manager Dashboards Value Trees

Flexible and transparent Better visualization and Transparent and clear scenario modeling reporting relationships

Source:Valsight 17

Transparent and combinable scenarios

Assumption: fuel price increase

Bundling of different assumptions to scenarios

Source:Valsight 18

Source:Valsight 19

Source:Valsight 20

Benefits Goals Requirements

Forward-looking Driver models Fast and transparant planning Simulations presentation of root cause and impact

High Comparability of Improved data Integration of data sources scenarios quality Verified data model Less time-consuming planning

State-of-the-art software- More efficient planning Increased solution discussions efficiency Multi-user-capability Focus on measures to support strategy execution Better reportings More Visualization and „Real- Agility time“

All relevant and legal figures are available in the Annual Report of Carnival Corporation: www.carnivalcorp.com Investor Relations Financial Information: Annual Reporting Or direct link: http://phx.corporate-ir.net/phoenix.zhtml?c=140690&p=irol-reportsannual