2017 Annual Report for Norwegian Cruiseline Holdings - 3

Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this annual report constitute forward-looking statements within the meaning of the U.S. federal securities laws intended
to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than
statements of historical facts contained, or incorporated by reference, in this annual report, including, without limitation, those regarding our
business strategy, financial position, results of operations, plans, prospects and objectives of management for future operations (including
expected fleet additions, development plans, objectives relating to our activities and expected performance in new markets), are forwardlooking statements. Many, but not all, of these statements can be found by looking for words like "expect," "anticipate," "goal," "project,"
"plan," "believe," "seek," "will," "may," "forecast," "estimate," "intend," "future" and similar words. Forward-looking statements do not
guarantee future performance and may involve risks, uncertainties and other factors which could cause our actual results, performance or
achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking
statements. Examples of these risks, uncertainties and other factors include, but are not limited to the impact of:
x adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other
international events;
x adverse incidents involving cruise ships;
x adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the
volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level
of disposable income of consumers or consumer confidence;
x the spread of epidemics and viral outbreaks;
x our expansion into and investments in new markets;
x the risks and increased costs associated with operating internationally;
x breaches in data security or other disturbances to our information technology and other networks;
x changes in fuel prices and/or other cruise operating costs;
x fluctuations in foreign currency exchange rates;
x overcapacity in key markets or globally;
x the unavailability of attractive port destinations;
x our indebtedness and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business;
x the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to
accelerate the repayment of our indebtedness;
x volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could
increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance
contracts and new ship progress payment guarantees;
x our inability to recruit or retain qualified personnel or the loss of key personnel;
x delays in our shipbuilding program and ship repairs, maintenance and refurbishments;
x our reliance on third parties to provide hotel management services to certain ships and certain other services;
x future increases in the price of, or major changes or reduction in, commercial airline services;
x amendments to our collective bargaining agreements for crew members and other employee relation issues;
x our inability to obtain adequate insurance coverage;

3
Table of Contents for the Digital Edition of 2017 Annual Report for Norwegian Cruiseline Holdings
