Today, Royal Caribbean Group (NYSE: RCL) announced it has signed a maritime 
declaration with the Finnish government, represented by the Ministry of 
Economic Affairs and Employment (MEAE) and Meyer Turku Oy, to chart the way 
forward for innovative and sustainable shipbuilding in Finland. The commitment 
is set to advance innovation, strengthen competitiveness and bolster the 
maritime industry's ecosystem.

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"Our partners in Finland have helped us deliver some of the world's most 
impressive and sustainable ships of their time, including our newest ship 
debuting in January 2024, Icon of the Seas," said Jason Liberty, president and 
CEO of Royal Caribbean Group. "This new partnership sets the stage for future 
innovations and allows us and the maritime industry to continue pursuing 
sustainability at the highest level."

The declaration announces the following actions:

     -Preparing a roadmap for the production of climate-neutral ships in
      Finland. The roadmap is part of the maritime industry's green transition.
     -Strengthening the innovation of Meyer Turku, Royal Caribbean Group and 
      the maritime industry.
     -Supporting networking to curb economic challenges, develop new solutions 
      and secure the long-term viability of the maritime industry.
     -Assembling a digital demonstration of a climate-neutral ship as part of 
      the sustainable maritime industry development program of the Ministry of 
      Labor and Economy.
     -Piloting and testing new innovations and technologies on Royal Caribbean 
      Group ships.

This partnership also advances Royal Caribbean Group's Destination Net Zero 
strategy to decarbonize its operations by 2050 and its near- and medium-term 
targets, including reducing carbon intensity by double digits by 2025 compared 
to 2019 and the introduction of a net-zero cruise ship by 2035. 

The declaration comes on the heels of another major milestone for Royal 
Caribbean. On Friday, Dec. 9, the revolutionary, new vacation, Icon of the 
Seas, reached its next phase of construction ahead of its iconic January 2024 
debut. The new ship floated on water for the first time since the assembly 
began nine months ago at Meyer Turku shipyard in Turku, Finland. Icon will join 
the company's Royal Caribbean International cruise line and its lineup of 
industry-leading ships, becoming the brand's most sustainable ship to date and 
the crown jewel of shipbuilding in the Finnish maritime industry.

"The Finnish maritime ecosystem is built on the innovativeness, expertise and 
skills of the thousands of leading shipbuilders at Meyer Turku, and Icon of the 
Seas is the latest example of what can be built here in Finland," said Mika 
Lintilä, Finland's Ministry of Economic Affairs. "This new declaration will 
secure a future in which the maritime industry continues to make strides in our 
decarbonization goals and economic growth priorities for years to come."

The company also has agreements with the shipyard to build the unnamed second 
and third ships in the Icon Class for its Royal Caribbean International brand, 
and Mein Schiff 7, which is currently under construction for the company's TUI 
Cruises brand.

"While expertise and interdisciplinary collaboration will always be key to the 
success of shipbuilding, we recognize the need to continuously evolve and 
create strategies to reduce carbon emissions toward net zero," said Tim Meyer, 
CEO, Meyer Turku Oy. "This commitment will set us up, as an industry, to 
innovate and adapt in how we design, build and operate ships. This challenge 
presents significant opportunities for the Finnish maritime industry to take 
the lead globally and bring to market new technologies and products."

About Royal Caribbean Group:
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the 
world with a global fleet of 64 ships traveling to approximately 1,000 
destinations around the world. Royal Caribbean Group is the owner and operator 
of three award-winning cruise brands: Royal Caribbean International, Celebrity 
Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture 
that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an 
additional 10 ships on order as of June 30, 2022. Learn more at 
www.royalcaribbeangroup.com or www.rclinvestor.com.

About Meyer Turku:
The Meyer Turku Oy shipyard is specialized in the construction of very 
demanding, innovative, and environmentally efficient cruise ships, car ferries, 
and special vessels. Our share of the global cruise construction market is 
approximately 15%, and our shipyard's order books extend to 2026. Our largest 
customers are Royal Caribbean International, Carnival Cruise Lines, TUI Cruises 
and the Finnish Border Guard. 

Meyer Turku employs 2.000 top professionals and operates the Turku shipyard 
where vessels are built since 1373. Meyer Turku's subsidiaries are Piikkiö 
Works Oy, a cabin factory located in Piikkiö, Shipbuilding Completion Oy, which 
offers complete deliveries to public spaces, and ENG'nD Oy, a shipbuilding and 
offshore design company based in Rauma.

Together with the German shipyards, Meyer Werft in Papenburg, and Neptun Werft 
in Rostock, Meyer Turku forms the Meyer Group, one of world's leading cruise 
ship builders.

Source - Royal Caribbean Group

CONTACT: Jonathon Fishman, corporatecommunications@rccl.com