Fincantieri S p A : DELIVERS ENCHANTED PRINCESS IN MONFALCONE

FINCANTIERI DELIVERS ENCHANTED PRINCESS IN MONFALCONE

A video message from the Italian Prime Minister Conte for the 100th cruise ship built by the

Group in the last 30 years

Trieste, September 30, 2020 - A live video message was sent by the Italian Prime Minister Giuseppe Conte to celebrate the delivery at Monfalcone shipyard of Enchanted Princess to Princess Cruises, a Carnival Corporation & plc brand. She is the 100th cruise ship delivered by Fincantieri

in the last thirty years.

The ceremony was virtually attended, from the United States, by Micky Arison, Chairman of Carnival Corporation, Arnold Donald, President and CEO of Carnival Corporation, Stein Kruse, Group CEO of Princess Cruises, Holland America Line, Seabourn, Carnival Australia and Carnival UK, and Jan Swartz Group President of Princess Cruises and Carnival Australia. Fincantieri was represented by Giuseppe Bono, CEO, while Giampiero Massolo, Chairman, was remotely connected.

Enchanted Princess is the 18th unit built by Fincantieri for Princess Cruises at Monfalcone shipyard. This new unit, with 145,000 gross tons and accommodation on board for 4,610 passengers in 1,830 cabins and 1,411 crew members, represents an evolution of the successfully delivered sister ships

• Royal Princess, Regal Princess, Majestic Princess and Sky Princess, all built from the same shipyard starting from 2013 onwards. This class introduced a "new generation" of ships that was warmly welcomed by cruise passengers. The upcoming unit of the same class, Discovery Princess, is to be delivered in 2021.

Enchanted Princess, like its sister ships, represents a leading technological model in Europe and worldwide thanks to its innovative layout, outstanding performances and top quality of its state-of-the-art technology. This project once again demonstrated that innovation and customer care are pivotal in confirming Fincantieri as market leader, further consolidating its historic partnership with Carnival Group, the world's largest cruise ship operator.

"With the delivery of Enchanted Princess, we officially welcome her into the Princess family and recognize the strong bond between Carnival Corporation, Princess Cruises and Fincantieri, our longstanding shipbuilder partner," said Jan Swartz, President of Princess Cruises. "Fincantieri shares the Princess spirit of delivering the highest level of excellence, and we know they will also share in our enthusiasm and pride when the ship welcomes its first guests".

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Giuseppe Bono, CEO of Fincantieri, stated: "Enchanted Princess is a special ship: she is, indeed, the first cruise ship we delivered after COVID-19 outbreak and the 100th ship built by Fincantieri in the last 30 years. We believe she demonstrates the best ability to tackle the hardest times with passion and commitment, as well as the historic resilience of our industry. Hence, I wish fair winds and following seas to this newly-built jewel, to our Princess Cruises friends with whom we have worked together successfully, and to all of the cruise industry workers, trusting that the recovery has already begun".

The partnership between Monfalcone shipyard and Princess Cruises will continue with two next- generation cruise ships. These will be the largest built in Italy with a 175,000 gross tons, expected to be delivered at the end of 2023 and in spring 2025. The vessels will accommodate approximately 5,300 guests and will be the first - in the owner's fleet - dual-fuel ships primarily powered by Liquefied Natural Gas (LNG).

Fincantieri has built 100 cruise ships since 1990 (70 of which for Carnival Corporation), and other 44 ships are currently being designed or built in the Group's yards.

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Fincantieri is one of the world's largest shipbuilding groups and number one for diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega yachts, as well as in ship repairs and conversions, production of systems and mechanical and electrical component equipment, cruise ship interiors solutions, electronic systems and software, infrastructures and maritime constructions as well as after-sales services. With over 230 years of history and more than 7,000 vessels built, Fincantieri has always kept its management offices, as well as all its distinctive engineering and production skills, in Italy. With over 9,500 employees and a supplier network that employs nearly 50,000 people in Italy alone, Fincantieri has enhanced a fragmented production capacity over several shipyards into a strength, acquiring the widest portfolio of clients and products in the cruise business. To hold its own in relation to competition and assert itself at global level, Fincantieri has broadened its product portfolio becoming world leader in the sectors in which it operates.

The Group now has 18 shipyards operating in four continents, nearly 20,000 employees, and is the leading Western shipbuilder; its clients include the world's biggest cruise operators and the Italian and the US Navy as well as numerous foreign navies. Fincantieri is also a partner of some of the main European defence companies within supranational programs.

Fincantieri's business is widely diversified by end markets, geographical exposure and by client base, with revenue generated from cruise ship, naval vessel, Offshore and Specialized Vessel construction and from the supply of solutions for electronic systems and software and for maritime infrastructure and works. Compared with less diversified players, such diversification allows it to mitigate the effects of any fluctuations in demand on the end markets served.

www.fincantieri.com
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