Fincantieri S p A : UNDER CONSTRUCTION IN GENOA EXPLORA II, THE EURO 500 MILLION LUXURY SHIP BUILT BY FINCANTIERI FOR MSC GROUP

UNDER CONSTRUCTION IN GENOA EXPLORA II, THE EURO 500 MILLION LUXURY

SHIP BUILT BY FINCANTIERI FOR MSC GROUP

• • This investment will generate an impact of over euro 2 billion on the Ligurian and national economy, ensuring work for 2,500 people for two years at the Sestri Ponente shipyard
• The Coin Ceremony for Explora II took place in the presence of the President of the Liguria Region
  Giovanni Toti, the Mayor of Genoa Marco Bucci and the top management from the Cruise

Division of the MSC Group and Fincantieri

• Explora II is part of a total order of six Explora Journeys vessels, including two options, worth euro
  3.5 billion with an impact of more than euro 15 billion on the Italian economy

Geneva, Switzerland/Trieste, Italy - February 8, 2023 - Explora II is under construction in Genoa, at the Fincantieri shipyard in Sestri Ponente, and is the second of six ships from Explora Journeys, the new luxury brand of the Cruise Division of the MSC Group. A first section, assembled in recent months in Castellammare di Stabia, reached the Genoese shipyard by sea a few days ago, where the ship will be built over the next 18 months and will be delivered in August 2024. The Coin Ceremony took place today in Sestri Ponente - an important ancient seafaring tradition where the ship owner and builder place two coins in the keel of the ship as a sign of good luck.

The event was attended by the President of the Liguria Region, Giovanni Toti and the Mayor of Genoa, Marco Bucci. The Executive Chairman of the Cruise Division of the MSC Group, Pierfrancesco Vago, and the Chief Executive Officer of Explora Jouneys, Michael Ungerer, were present on behalf of the shipowner. Doing the honors for Fincantieri were the company's Chief Executive Officer, Pierroberto Folgiero, and the General Manager of the Merchant Ships Division Luigi Matarazzo.

Pierfrancesco Vago stated: «I am particularly proud that Explora Journeys ships are also built in Italy. In fact, they are destined to represent Italian excellence in the world, honoring an engineering, innovation and design capacity that has no equal at an international level. The building of these ships bear witness to our concrete and tangible commitment in Italy and for Italy. Together with our confidence in the prospects of a country in which the MSC Group has been operating for half a century and employs over 15,000 direct employees, generating an employment impact of a further 40,000 people».

Pierroberto Folgiero commented: "It is exciting to see the advancement of this construction. The Explora

class is meaningful of the progress of our journey: a concentrate of high technology which, with the subsequent units, will reach even higher levels, following a precise planning towards the ship of tomorrow".

The construction of Explora II required an investment of approximately euro 500 million on the part of the Cruise Division of MSC Group with significant economic and employment effects both for Genoa and the entire Ligurian and national territory. From an economic point of view, for example, the construction of an Explora Journeys ship is capable of generating an overall impact of more than euro 2 billion on the Italian economy, while in terms of employment, the construction requires over 7 million man-hours of work and the average employment of 2,500 people for about two years in the Genoese shipyard and related industries.

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Explora II is part of an order for four luxury ships for over euro 2.2 billion, to which two options have been added - Explora V and Explora VI - which would bring the total value of the order to around euro 3.5 billion, with an impact of over euro 15 billion on the country's economy. At the same time, the investment will ensure employment in the coming years at the Sestri Ponente shipyards where, along with Explora II, Explora III and Explora IV will also be built and will join the fleet, between 2024 and 2027.

The environmental technologies featured on the Explora ships are particularly sophisticated. The last four vessels (from III to VI) will be equipped with industry-first solutions and, specifically, they will be powered by LNG, the cleanest marine fuel currently available at scale, which virtually eliminates local air pollutant emissions like sulphur oxides (99 per cent), nitrogen oxides (85 per cent), particles (98 per cent) and CO2 (25%). Explora V and Explora VI will feature a containment system for liquid hydrogen, a low-carbon fuel, that will power a six-megawatt fuel cell to produce emissions-free power for the hotel operation and allow the vessels to run on 'zero emissions' in port, with the engines turned off.

All vessels will also be equipped with the latest environmental and marine technologies, including the latest selective catalytic reduction technology, shore power plug-in connectivity, underwater noise management systems to help protect marine life, and a comprehensive range of onboard energy efficient equipment to optimise engine use to further reduce emissions.

ENDS

About the Cruises Division of MSC Group

The Cruises Division of MSC Group, the leading privately held Swiss-based shipping and logistics conglomerate with over 300 years of maritime heritage, is headquartered in Geneva, Switzerland, and has two distinct brands within its structure - the contemporary and luxury brands.

MSC Cruises, the contemporary brand, is the world's third largest cruise brand as well as the leader in Europe, South America, the Gulf region and Southern Africa with more market share in addition to deployed capacity than any other player. It is also the fastest growing global cruise brand with a strong presence in the Caribbean, North America and the Far East markets.

Its fleet comprises 21modern vessels combined with a sizeable future global investment portfolio of new vessels and is projected to grow to 23 cruise ships by 2025 with options for six more vessel orders in place through 2030.

MSC Cruises offers its guests an enriching, immersive and safe cruise experience inspired by the Company's European heritage, where they can enjoy international dining, world-class entertainment, award-winning family programmes and the very latest user-friendly technology on board. To learn more about contemporary brand's itineraries and experience on board its ships please see here.

Meanwhile the luxury brand, Explora Journeys, is set to start operating in 2023 with a fleet with the latest and most advanced environmental and maritime technologies available. The first of which will have a gross tonnage of 63,900 GT and feature 461 of the largest suites at sea, all with ocean front balconies or terraces. These luxury ships will introduce to the luxury segment a broad range of new guest experiences and other activities as well as generous ratios of public spaces, in addition to showcasing highly innovative design. For further information about Explora Journeys please see here.

MSC's number one priority across all its operations has always been the health and safety of its guests and crew, as well as the communities at the destinations its ships serve. In August 2020, MSC Cruises implemented a new comprehensive and robust health and safety protocol to become the first major line to return to sea. To learn more about MSC Cruises' health & safety protocol please see here.

MSC has long been committed to environmental stewardship with a long-term goal to achieve net zero emissions for its operations by 2050. The Company is also a significant investor in next-generation environmental marine technologies, with the objective to support their accelerated development and availability industry-wide. To learn more about the Company's environmental commitment please see here.

Finally, to learn more about the MSC Foundation, MSC Group's own vehicle to lead, focus and advance its conservation, humanitarian and cultural commitments please see here.

About Explora Journeys

Explora Journeys is the privately-owned luxury lifestyle brand of the MSC Group, headquartered in Geneva, Switzerland, created at the heart of Swiss luxury hospitality. The brand stems from the long-held vision of the Aponte- Vago family to redefine the ocean experience for a new generation of discerning luxury travellers, drawing on the Aponte family`s 300 years of maritime heritage. The brand's aspiration is to create a unique 'Ocean State of Mind' by connecting guests with the sea, with themselves, and like-minded people, while remarkable itineraries will blend renowned destinations with lesser-travelled ports, for a journey that inspires discovery in all its forms.

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A fleet of six ships, two of which are under construction, will be launched from 2023 to 2028. Equipped with the latest environmental and marine technologies, Explora Journeys will introduce a new style of transformative ocean travel.  When EXPLORA I sets sail in May 2023, she will offer 461 oceanfront suites, penthouses and residences designed to be 'Homes at Sea' for our guests, all with sweeping ocean views, private terrace, a choice of nine distinct culinary experiences, ten indoor and outdoor bars and lounges, four swimming pools, extensive outdoor decks with private cabanas, wellness facilities, and refined entertainment.  Inspired by the company`s European heritage, Explora Journeys will provide guests with an immersive ocean experience respectful and intuitive hospitality.

To learn more about Explora Journeys, visit explorajourneys.com or follow us on Instagram, Twitter, Facebook and LinkedIn.

Fincantieri is one of the world's largest shipbuilding groups, the only one active in all high-tech marine industry sectors. It is leader in the construction and transformation of cruise, naval and oil & gas and wind offshore vessels, as well as in the production of systems and component equipment, after-sales services and marine interiors solutions. Thanks to the expertise developed in the management of complex projects, the Group boasts first-class references in infrastructures, and is a reference player in digital technologies and cybersecurity, electronics and advanced systems. With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how, expertise and management centres in Italy, here employing 10,000 workers and creating around 90,000 jobs, which double worldwide thanks to a production network of 18 shipyards operating in four continents and with over 21,000 employees. www.fincantieri.com

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