Lindblad Investor Presentation Deck

Disclaimer The market and industry data contained herein are (unless otherwise indicated) as of December 31, 2022. Caution Regarding Forward-Looking Statements Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the Company's financial projections and may also generally be identified as such because the context of such statements will include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or words of similar import. Similarly, statements that describe the Company's financial guidance or future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected. Many of these risks and uncertainties are currently amplified by, and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. It is not possible to predict or identify all such risks. There may be additional risks that we consider immaterial, or which are unknown. These factors include, but are not limited to, the following: (i) events and conditions around the world, including war and other military actions, such as the Israel-Hamas war, the current conflict between Russia and Ukraine, inflation, higher fuel prices, higher interest rates and other general concerns about the state of the economy or other events impacting the ability or desire of people to travel; (ii) suspended operations, cancelling or rescheduling of voyages and other potential disruptions to our business and operations related to the COVID-19 virus, the Russia-Ukraine conflict, political unrest in destinations we visit, outbreak of disease in any destination we visit or another unexpected event; (iii) the Israel-Hamas war, impacts of inflation, the COVID-19 virus and/or the Russia-Ukraine conflict on our financial condition, liquidity, results of operations, cash flows, employees, plans and growth; (iv) increases in fuel prices, changes in fuels consumed and availability of fuel supply in the geographies in which we operate or in general; (v) the impacts of inflation and negative economic conditions or negative economic outlooks on the demand for expedition travel; (vi) the loss of key employees, our inability to recruit or retain qualified shoreside and shipboard employees and increased labor costs; (vii) the impact of delays or cost overruns with respect to anticipated or unanticipated drydock, maintenance, modifications or other required construction related to any of our vessels; (viii) unscheduled disruptions in our business due to civil unrest, travel restrictions, weather events, mechanical failures, pandemics or other events; (ix) any change in state classifications of our workforce; (x) changes adversely affecting the business in which we are engaged: (xi) management of our growth and our ability to execute on our planned growth, including our ability to successfully integrate acquisitions; (xii) our business strategy and plans; (xiii) our ability to maintain or renew (on favorable terms or at all) our relationship with National Geographic and/or World Wildlife Fund; (xiv) compliance with new and existing laws and regulations, including environmental regulations and travel advisories and restrictions; (xv) compliance with the financial and/or operating covenants in our debt arrangements; (xvi) the impact of severe or unusual weather conditions, including climate change, on our business; (xvii) adverse publicity regarding the travel and cruise industry in general; (xviii) loss of business due to competition; (xix) the inability to meet or achieve our sustainability related goals, aspirations, initiatives, and our public statements and disclosures regarding them; (xx) the result of future financing efforts; and (xxi) those risks described in the Company's filings with the SEC. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect the Company's performance may be found in its filings with the SEC, which are available at http://www.sec.gov or at http://www.expeditions.com in the Investor Relations section of the Company's website. Trademarks and Tradenames This presentation may also include trademarks, trade names and service marks of other companies or third parties. Use or display by us of other parties' trademarks, trade names or service marks is not intended to and does not imply a relationship with, or endorsement or sponsorship of us by, these other parties other than as described herein. Solely for convenience, the trademarks, service marks and tradenames referred to in this presentation are without the "Ⓡ" and "TM" symbols, but such references are not intended to indicate, in any way, that the applicable owner will not assert, to the fullest extent under applicable law, its rights or the rights of the applicable licensors to these trademarks, service marks and tradenames. 2

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