MS Silver Discoverer 4.3 INTRODUCTION AND BACKGROUND Silversea has undertaken this assessment to document and assess the planned activities of MS Silver Discoverer for the period of November 2018 when they plan two cruises to St. Brandon, as described in Section 2.1. In addition to also ensuring compliance with international and national laws and regulations, this assessment has been prepared to meet with general obligations under company‐specific guidelines and SOPs, and shipping requirements in general. 4.3.1 Company Description Silversea is a cruise company reflecting generations of maritime and travel experience. In the early 1990s, the Lefebvre family of Rome, former owners of Sitmar Cruises, conceived and organized a unique cruise company pledging to build and operate the highest quality ships in the ultra‐luxury segment. The name "Silversea" was chosen because it connotes quality and luxury as well as capturing the romance and special sensations of the sea. Silversea launched its first ship, MS Silver Cloud, in 1994, followed by MS Silver Wind in 1995, MS Silver Shadow in 2000 and MS Silver Whisper in 2001, MS Silver Spirit in 2009 and MS Silver Muse in 2017. MS Silver Moon will enter into service in 2020. The fleet was purpose‐built for the ultra‐luxury market, establishing a new class of smaller, intimate vessels that could slip into more exotic ports off the beaten path. These elite vessels were specifically designed for fewer guests, more space and the highest levels of personalized service, delivered by mainly Italian and other European officers overseeing an International staff. All‐ocean view suites, most with private veranda, and open seating dining options so guests dine when, where and with whom they desire, add to the very special ambiance created onboard. But what is also unique is that they incorporate the favorite amenities found on larger ships, such as an elaborate show lounge featuring nightly entertainment, casino, spa and state‐of‐the‐art fitness facility. Information on Silversea ultra‐luxury small ships can be found on the Company’s website at: https://www.silversea.com/ships.html. Silversea entered the expedition market with the launch of its expedition ship, the MS Silver Explorer (ex‐Prince Albert II) in 2008. The Lloyd's Register 1A ice‐rated vessel is purpose‐built for expedition cruising and recently underwent an extensive multimillion‐dollar renovation at the Fincantieri shipyard in Trieste, Italy. To ensure the ship would deliver an expedition cruise experience consistent with Silversea’s award‐winning luxury standards, the refurbishment included exterior design modifications, state‐of‐the‐art technological enhancements and a comprehensive upgrade of all guest accommodations and public spaces. After the ship's refit, the ice‐class vessel carries a reduced number of guests, only 132 in 66 ocean‐view accommodations, with many featuring private verandas. With staterooms and suites ranging from 180 to over 600 square feet, the ship provides some of the largest accommodations of any expedition ship. Eighteen suites each feature more than 400 square feet of luxury. Silversea Cruises Ltd. Page 8 MS Silver Discoverer Guests aboard Silversea’s MS Silver Explorer are inspired by the varied and constantly adapted itineraries that make the most of the natural opportunities created by the landscapes around them. The ship operates in Antarctica from November through March each year, with an extensive program of exploration in the Arctic (Canada, Greenland and Svalbard) between June and September with exceptional voyages in South America, Africa and British Islands in between. The management teams at Silversea, as well as the company’s management partners, are all highly experienced in cruising to Antarctica, the Sub‐Antarctic (including South Georgia) and to remote destinations throughout the Arctic with the MS Silver Explorer. As of August 2017, the vessel has completed over 162 trips to the Polar Regions and around 284 voyages worldwide, all without environment incident of any kind and, to the best of the company’s knowledge, without adverse environmental impact on the environment. In June 2012, Silversea purchased Canodros S.A., the premier Ecuadorian tourism company that operates in the Galápagos Islands, and their up‐market expedition ship, MS Galapagos Explorer II. In late September 2013, the all‐ suite, 100‐guest ship joined the company's expedition fleet as MS Silver Galapagos, following a major stem‐to‐stern refurbishment. All public spaces and guest suites have been refreshed with new upholstery, carpeting, curtains, and wall treatments. Each suite is highlighted by a totally renovated bathroom, enhanced with rich marble detailing. Besides a new walk‐in rainforest shower, each bathroom features a new vanity, shelving, mirrors, lighting fixtures, and wood flooring. Plus, all guest suites have been outfitted with new flat screen TVs, new mattresses (custom‐made exclusively for Silversea), and luxurious Pratesi bed linens. Other ship enhancements include the installation of Wi‐ Fi access throughout the ship (including all suites) and a new complimentary service providing streaming movies and live television news broadcasts for guests to enjoy on their portable devices. And rounding out the renovations are a new fitness centre, massage room, beauty salon, outdoor Jacuzzi, outdoor furniture, and Silversea's signature outdoor dining venue, The Grill. MS Silver Discoverer (ex‐Clipper Odyssey) joined the expedition fleet in 2013. She recently underwent a major refurbishment prior to entering service on 1st March 2014. Accommodations consist of five suite categories. She can accommodate up to 128 guests and has extensive facilities on board including 10 Zodiac boats; snorkeling equipment (Tropical waters); a swimming pool; a gym and beauty salon; a restaurant and pool grill; a lecture room for in‐depth presentations and briefings about the destinations and a panoramic lounge. MS Silver Discoverer has been operated to remote destinations and sensitive environments including, through August 2017, the Russian Far East and Alaskan Peninsula (4 seasons), Southeast Alaska (Inside Passage) (4 seasons), the Kimberly region of Australia (4 seasons and over 40 trips), Aldabra (Indian Ocean) (4 trips), Bangladesh, Sunderbands National Reserve (one trip), and New Zealand (8 trips mainly around the South Island), including the New Zealand sub‐Antarctic (4 trips). Prior to joining the Silversea fleet, the vessel was employed around the world to many sensitive sea areas for other operators. She has established a very fine reputation in conducting environmentally‐sensitive cruises throughout the world. In November 2017, the first ship in the fleet, MS Silver Cloud, was adapted to cruise the polar regions. This way, the Cloud will become Silversea’s 4th luxury expedition ship joining MS Silver Discoverer, MS Silver Galapagos and MS Silver Explorer. During her refit, starting in August 2017, the 296‐guest ship will be refurbished for 248 passengers (200 in the Polar Regions) and transformed into an ice‐class vessel. Her inaugural Antarctica season, in 2017‐18, will feature nine voyages to the Antarctic Peninsula and two voyages to South Georgia. Information on Silversea Expeditions and Silversea expedition ships can be found on the Company’s website at: https://www.silversea.com/expeditions.html. In October 2017, Silversea introduced the ‘Couture Collection’ (https://www.silverseacouture.com/) of bespoke global experiences. The Collection is an exclusive series of ocean and land adventures custom‐designed for the world's most discerning travelers. Hand‐crafted by Conrad Combrink, Silversea’s Senior Vice President Strategic Development Expeditions and Experiences, and under the watchful eye of Silversea's Executive Chairman, Manfredi Lefebvre d'Ovidio, the inaugural 2018 Couture Collection is an inspired portfolio of nine pre‐ and post‐cruise luxury land programs of five to 11 days, offering authentic and immersive travel experiences in the most remote and untouched regions of the Earth. Silversea's own experienced architects, drawing on the best itinerary expertise and global knowledge, have custom‐crafted each element of the 2018 Couture Collection down to the smallest details. Silversea's experts designed the inaugural collection with inspiration from Silversea guests; a survey of North Silversea Cruises Ltd. Page 9 MS Silver Discoverer American travelers, 87 percent of whom are from the United States, explored guests' "dream destinations" and most sought‐after cultural experiences. The Couture Collection programs are limited to small groups and include most meals, beverages and exclusive culinary events. Guests enjoy inclusive luxury accommodations at renowned boutique hotels, lodges and private tents specifically built for these experiences. Each bespoke adventure is fully escorted. Each program provides a perfect extension to select Silversea cruises, creating an unrivaled luxury travel experience, deeper on land. Silversea caters to the cosmopolitan world traveler with its main office in Monaco and sales and reservation offices in the US (Miami), United Kingdom, Germany, Australia, Singapore and Ecuador. The US office, incorporated under US law, employs nearly 100 individuals and is a regional head office responsible for the legal team, IT support (including the main company server), reservations, sales, marketing and some operational functions, including destination development. 4.3.2 Corporate Staff Manfredi