Lindblad Investor Presentation Deck

Lindblad Expeditions Lindblad is Expanding its Reach in the Large, High-Growth Adventure Tourism Market 17.8% Projected Adventure Tourism CAGR 2021 through 2026 Global Cruise Market Size 2019 $45B < 1% 7 Global Adventure Tourism Market Size 2019 $683B Global Adventure Tourism Market Size 2026 (Projected) $1.8T Adventure Tourism: Top 5 Players Combined Global Market Share PLAS Sources: Market Watch 2020, Euromonitor's Travel & Tourism Global Economic Impact & Issues 2017 // 2019 Shaping the Future of Adventure and Cultural Travel Report (ATTA & IFC/World Bank Group) 7

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