The transaction builds on the proven residential cruising model and strategically positions Avora between Villa Vie Residences' contemporary residential cruise offerings and The World's ultra-high-net-worth maritime estates. Avora Residences was founded by Mikael Petterson, the creator of Villa Vie Residences.

The nine-year charter with a nominal purchase option arrangement establishes a long-term operational relationship with Norwegian Cruise Line.

As part of this relationship, Avora plans to preserve the operational DNA of SEVEN SEAS NAVIGATOR wherever possible, maintaining established systems, standards, and key vendor and service relationships that have defined the vessel's performance and reputation over decades of global service. This approach ensures operational consistency while allowing Avora to thoughtfully residentialize the onboard experience.

Ahead of its 2028 launch, LUMINA will undergo a full residential conversion. Planned upgrades include personalization and residential enhancements, reimagined common spaces optimized for long-term living, a dedicated business and global connectivity center designed to support extended voyages.

Residences range from approximately 28 to 109 square metres and will feature premium finishes, expansive ocean views, and opportunities for personalization.

With its size and configuration, LUMINA occupies a distinctive position within the global passenger fleet. The ship is small enough to access intimate ports and navigate waterways unavailable to larger vessels, while still offering full residential-scale amenities. The vessel is also polar-certified, enabling travel to remote destinations including Antarctica and the Northeast Passage.

LUMINA intends to launch from Lisbon, Portugal, embarking on a three-year continuous global circumnavigation, visiting more than 140 countries and over 400 destinations across seven continents. Unlike traditional cruise itineraries, the ship will remain in port for up to five days at a time, prioritizing depth of experience and cultural immersion over rapid port turnover. Following the inaugural circumnavigation, residents will have structured input into future itineraries.

Ownership Structure and Pricing

Avora Residences will offer two ownership pathways:

• Life-of-Ship Ownership, with pricing ranging from approximately USD 545,000 to USD 4.2 million across 242 private residences
• Five-Year Ownership Program, starting at approximately USD 219,600, offering long-term residential access with a lower overall commitment

Pricing is positioned to compete with traditional home ownership in major global cities, while offering the added benefit of global mobility within a fully serviced residential environment.

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