Lindblad Investor Presentation Deck

Strong Track Record of Expanding Growth Opportunity ● · Significantly expanded inventory - capacity increase of ~75% since 2016 • Broadened and deepened product portfolio through targeted expansion of land-based segment Expanded sales and marketing opportunities across all global markets • Created potential for additional revenue growth through new product verticals (e.g., river cruises and larger ships) ● 1958 Founding of Lindblad Travel 1967 1980 - 1985 First civilian Expands offerings expedition to Canada, Alaska to Galápagos & Baja California 1966 First civilian expedition to Antartica 2004 Signs strategic relationship with National Geographic 1997 Begins to permanently station ship in the Galápagos 1979 Sven-Olof Lindblad, founds Special Expeditions (now Lindblad Expeditions) 2013 Acquires Orion Expedition Cruises 2008 - 2009 Forms Fund for Conservation and Exploration in partnership with National Geographic Launch of National Geographic Explorer 2017 National Geographic Endeavour II launches National Geographic Quest launches 2015-2016 Public listing on the NASDAQ Orders two new coastal vessels Acquires Natural Habitat Adventures 2021 Launch of National Geographic Endurance & Resolution Acquires Off the Beaten Path, Duvine Cycling Co., and Classic Journeys 2019 2022 Achieved 100% National Geographic carbon neutrality Islander II launches 2018 National Geographic Venture launches Implemented single-use plastics ban fleet-wide 2023 17-year expansion and extension of strategic relationship with National Geographic 8

View entire presentation