Lindblad Expeditions Holdings Inc. · NASDAQ:LIND
Lindblad Expeditions — Merger or Acquisition (September 2026)
9 slides from Lindblad Expeditions's merger presentation, Sep 15, 2026
Slide 1: Lindblad Expeditions Builds on Its Leadership in Experiential Travel through the Acquisition of White Desert and Echo Charlie
Lindblad Expeditions Builds on Its Leadership in Experiential Travel through the Acquisition of White Desert and Echo Charlie SEPTEMBER 15, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements: This presentation contains forward-looking information and statements, within the meaning of applicable securities laws (collectively, “forward-looking statements”), including, but not limited to, statements relating to the Lindblad Expedition Holdings, Inc.’s
Slide 3: White Desert: an unparalleled way to experience the most remote place on Earth
White Desert: an unparalleled way to experience the most remote place on Earth—the heart of Antarctica • The leading provider of luxury tourism in the interior of Antarctica, operating three “After two decades of White Desert, it still inspires me to bring unique camps with a fourth underway, all li
Slide 4: Together, we are launching Echo Charlie to take the White Desert experience to new frontiers
Together, we are launching Echo Charlie to take the White Desert experience to new frontiers across the globe • Echo Charlie will create White Desert style experiences around the world with small group, ~10-12 day itineraries • Echo Charlie's "Modern Odysseys" are journeys designed for travelers who
Slide 5: White Desert has a demonstrated track record of growth and profitability, with substantial runway ahead
White Desert has a demonstrated track record of growth and profitability, with substantial runway ahead • Lindblad has acquired 60% of White Desert and Echo Charlie for White Desert at-a-Glance $61 million, plus $6 million for cash on the balance sheet1 $M • Transaction is being funded by cash on ha
Slide 6: Combines two best-in-class experiential travel companies with a shared history of innovation
Combines two best-in-class experiential travel companies with a shared history of innovation, unlocking significant value + • Legacy of taking first non-scientific • Leading operator of luxury tourism ✓ Expansion of White Desert’s camp guests to Antarctica 60+ years ago in the interior of Antarctica
Slide 7: Patrick Woodhead, White Desert's founder, brings unique innovation and creativity to Lindblad
Patrick Woodhead, White Desert’s founder, brings unique innovation and creativity to Lindblad • FOUNDED WHITE DESERT IN 2005, building it over 20 years, with deep relationships in Antarctica and South Africa • FOUNDER OF ECHO CHARLIE, an innovative aviation-based tour platform bringing the White Des
Slide 8: Acquisition of White Desert and Echo Charlie establishes a new aviation-based platform
Acquisition of White Desert and Echo Charlie establishes a new aviation - based platform to complement our established land and sea offerings LINDBLAD’S PORTFOLIO OF EXCEPTIONAL COMPANIES WILL TAKE YOU BY… … TO THE WORLD’S MOST EXTRAORDINARY PLACES 8
Slide 9: Our approach is consistent: partner with exceptional founders, preserve what makes each business special
Our approach is consistent: partner with exceptional founders, preserve what makes each business special, and invest to accelerate growth Nature / Wildlife Outdoor Safari Tours, One-of-a-Kind Luxury Luxury Remote Focus Cycling Tours Walking Tours Land-Based Adventure Kilimanjaro Experiences in Aviat
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