ROYAL CARIBBEAN CRUISES LTD

Water Transportation·MIAMI, FL·FY end 12/31·CIK 884887

Named Executive Officers

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Jason LibertyPresident and Chief Executive Officer	—	—	—	—	—	$24.0M
Jason T. LibertyPresident and Chief Executive Officer	$1.4M	$15.8M	—	$5.1M	$1.7M	$24.0M
Michael W. BayleyPresident and CEO, Royal Caribbean	$1.2M	$5.5M	—	$2.4M	$407.6K	$9.4M
Naftali HoltzChief Financial Officer	$946.8K	$4.0M	—	$2.1M	$66.0K	$7.1M
Laura Hodges BethgePresident, Celebrity Cruises	$893.5K	$3.2M	—	$1.7M	$143.0K	$6.0M
Harri U. KulovaaraEVP, Maritime	$932.8K	$1.9M	—	$2.0M	$142.9K	$4.9M
Michael Bayley	—	—	—	—	—	—

Jason Liberty · FY 2025

TSR % vs. CEO comp actually paid · 5 fiscal years · Item 402(v) disclosure

TSR

CEO comp

FY21

+3%

$15M

FY22

-34%

$4M

FY23

+73%

$44M

FY24

+210%

$77M

FY25

+280%

$49M

Need at least two fiscal years of proxy data to draw the trend line. The ingestion worker will populate prior-year proxies as it processes them.