Interim Results

NET DEBT REDUCING DESPITE HEADWINDS Movement in net debt £729.0m £3.5m £6.9m £12.6m £18.8m £5.0m (£26.6m) (£15.0m) (£12.9m) Available Operating Cash Flow before cash support to Cruise and Travel of £31.2m £721.3m 1 Feb 2022 Unrestricted Trading EBITDA Dividend from AICL Working capital Capital expenditure River Cruise and Travel cash injection Ocean Cruise Available Operating Cash Flow* Debt service Non-trading items, tax & other 31 Jul 2022 Available Operating Cash Flow of £31.5m (vs. £41.9m in the prior year), mainly due to one-off positive working capital benefits in the prior year Lower level of cash support provided to River Cruise and Travel although, due to trust arrangement, small working capital outflow as business resumes closer-to-normal operations • Improved Ocean Cruise cash flow, supporting resumption of ship repayments in June Reduced debt service costs with higher current-year bond interest offset by fees in the prior year in relation to the partial tender of the 2024 bond and issue of the 2026 bond • Non-trading items largely reflect agreed deficit recovery plan payments to the defined benefit pension fund *Ocean Cruise cash flow represents net advance customer receipts, net trading income and capital expenditure as shown on page 46 14 Interim results for the six months ended 31 July 2022 SAGA

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