Harry Sommer

President and Chief Executive Officer at Norwegian Cruise Line Holdings Ltd

Since July 1, 2023

Age

57 years

Education

Holds an M.B.A. from Pace University and a B.B.A. from Baruch College.

Tenure

Joined NCLH in February 2015 as Executive Vice President and Chief Integration Officer, later serving in roles including International Business Development and President International, before being appointed President and Chief Executive Officer on July 1, 2023.

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About

Harry Sommer is a seasoned executive with over 30 years of experience in the cruise industry. At 57 years old as of February 2025, he has developed a comprehensive background in both operational leadership and strategic management, underpinned by his strong educational foundation.

His professional journey includes co-founding and presiding over a luxury travel agency, which laid the groundwork for his later successes. He joined Norwegian Cruise Line Holdings in February 2015 as Executive Vice President and Chief Integration Officer, playing a pivotal role in integrating acquired businesses and expanding the company's international footprint.

In a series of progressive roles, he led international business development efforts, served as President International, and ultimately navigated the company through significant challenges, including a global pandemic. In April 2023, he was named President and CEO-elect, officially assuming his current role on July 1, 2023, where his leadership continues to drive innovation and growth.

$NCLH Performance Under Harry Sommer

Past Roles

Organization	Role	Date Range	Details
Norwegian Cruise Line Holdings Ltd.	President and Chief Executive Officer, Norwegian Cruise Line	January 2020 – March 2023	N/A
Norwegian Cruise Line Holdings Ltd.	President, International, NCLH	January 2019 – January 2020	N/A
Norwegian Cruise Line Holdings Ltd.	Executive Vice President, International Business Development, NCLH	May 2015 – January 2019	N/A
Norwegian Cruise Line Holdings Ltd.	Executive Vice President and Chief Integration Officer, NCLH	February 2015 – May 2015	N/A
Prestige Cruises International (a subsidiary of NCLH)	Senior Vice President and Chief Marketing Officer	October 2013 – February 2015	N/A
Prestige Cruises International (a subsidiary of NCLH)	Senior Vice President, Finance and Chief Information Officer	September 2011 – October 2013	N/A
Prestige Cruises International (a subsidiary of NCLH)	Senior Vice President, Accounting, Chief Accounting Officer, and Controller	August 2009 – August 2011	N/A
Luxury Cruise Center	Co-founder and President	2002 – 2008	N/A
Norwegian Cruise Line	Vice President, Relationship Marketing	2000 – 2001	N/A

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,000,822	Annual (blended; increased effective July 1, 2023)	Increased from $900,000 to $1,100,000 mid-year
Car Allowance	$30,000	Monthly ($2,500 per month); Annual total	Total annual allowance
Executive Medical Plan Premium	$21,396	Annual	Fixed premium cost
Home Security Enhancements	$20,000	Annual	Provided for home security improvements
Life Insurance Premiums & Cruise Benefits	$840	Annual	Includes life insurance premiums and immediate family cruise benefits

Performance Compensation

Data from FY 2023

Annual Cash Performance Incentive

Metric	Threshold / Target / Max	Amount / Percentage	Actual Performance / Payout
Adjusted EBITDA	Threshold: $1.619B; Target: $1.8B - $1.9B; Max: $2.051B	—	Actual: $1.916B (resulting in a 91% payout)
Strategic Ship Delivery	Target: Delivery of 3 specified ships	Qualitative condition	Achieved (10% payout)
Sustainability Metric	Target: Set interim greenhouse gas reduction targets (for 2050)	Qualitative condition	Achieved (10% payout)
Total Cash Incentive	N/A	Target: $1,416,712 (141.55% of base salary)	Actual: $1,572,551 (111% of target)

Long-Term Equity Incentive Compensation

Component	Grant Date	Grant Date Fair Value	Target Number of Shares	Threshold Number of Shares	Maximum Number of Shares	Vesting Schedule
PSUs (Mar 1, 2023)	Mar 1, 2023	$999,997	66,050	16,513	132,100	Vests on Mar 1, 2026, subject to performance conditions
RSUs (Mar 1, 2023)	Mar 1, 2023	$999,997	66,050 shares	N/A	N/A	Vest in three equal installments on Mar 1, 2024, 2025, and 2026
PSUs (Jul 5, 2023)	Jul 5, 2023	$1,612,495	72,766	18,192	145,532	Vests on Mar 1, 2026, subject to performance conditions
RSUs (Jul 5, 2023)	Jul 5, 2023	$1,612,495	72,766 shares	N/A	N/A	Vest in three equal installments on Mar 1, 2024, 2025, and 2026

*Note: At least 50% of the grant date fair value of the annual equity awards is subject to performance-based vesting. *