Lindblad Expeditions Holdings, Inc. Acquires Majority Stakes in DuVine Cycling + Adventure Co. and Off the Crushed Path LLC

Experience Vacation Businesses Broaden Lindblad’s Platform of Substantial-High-quality Experiential Vacation Offerings and Expands Total Addressable Current market

Demand Surge for Cycling Encounters Being Fueled by Explosive Expansion in Standard Bicycle Profits and E-Bicycle Innovation and Level of popularity, as effectively as At-House Interactive Biking Phenomenon

Little Team and Private Outings Continue on to Operate By means of COVID and are Encountering Historically Robust Degrees of Bookings

NEW YORK, March 9, 2021 /PRNewswire/ — Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND the “Corporation” or “Lindblad”), a world wide service provider of expedition cruises and journey vacation ordeals right now introduced that it has obtained the vast majority stakes in DuVine Biking + Adventure Co. (“DuVine”), a main luxurious cycling and journey vacation firm, and Off the Crushed Path LLC (“Off the Beaten Route”), a foremost active travel operator with a specialization in U.S. National Parks. These acquisitions more broaden and deepen Lindblad’s system of superior-high quality experiential product or service offerings in robust experience travel sectors, together with the promptly expanding cycling tourism and domestic expedition markets. Related to the acquisition of Natural Habitat, Inc. (“Purely natural Habitat”), the Business will leverage its knowledge and resources to speed up the growth of these exclusive and profitable businesses and capitalize on the rising need for authentic and immersive journey journey.

DuVine is an award-successful intercontinental luxurious biking and journey company primarily based in Somerville, Massachusetts centered on offering immersive cultural encounters across the globe as a result of thoughtfully built itineraries led by specialist nearby guides. DuVine’s excursions include things like leading-quality equipment and assistance and are personalized to riders of all abilities with an emphasis on excellent food stuff and wine ordeals, alongside with boutique lodging. DuVine also at the moment operates a wide range of extraordinary journeys that combine sailing and biking activities, which will be further more expanded as component of Lindblad. Founded in 1996 by Andy Levine, DuVine’s varied tour offerings include compact team and non-public personalized outings to places across Europe, the United States, Latin The united states, Asia and Africa. Mr. Levine will retain an ownership interest in DuVine and will proceed as President and Main Executive Officer of the new Lindblad subsidiary.

Off the Beaten Route, primarily based in Bozeman, Montana, provides energetic small-group and personal custom made journeys all around the globe, with a extended-standing aim on U.S. National Parks and connecting the heart of the traveler with the soul of the spot via localized, authentic activities. Established in 1986, Off the Beaten Path’s little team solution offerings incorporate special expeditions all over the U.S., as properly as visits throughout Europe, Africa, Australia, Central and South America and the South Pacific. Cory Lawrence, Off the Crushed Path’s President and Main Govt Officer, will keep an ownership curiosity in Off the Overwhelmed Path and continue on in this job for the new Lindblad subsidiary.

DuVine and Off the Beaten Route will gain from Lindblad’s scale, resources and promoting experience while significantly raising the addressable prospect across Lindblad’s portfolio. The considerable desire for biking-connected written content and use was expanding promptly prior to COVID-19 and that has only accelerated through the pandemic. In accordance to the NPD Group, from January by way of October of 2020 US. bicycle profits elevated over 60% and e-bicycle gross sales increased 144% when compared with the same period in 2019. DuVine’s verified monitor file in providing significant-conclusion modest group biking encounters, along with the meaningfully improved accessibility that the evolution of the e-bicycle provides, ideally situates them to more capitalize on this growing possibility both promptly coming out of the pandemic and in excess of the prolonged-phrase. Equally, Off the Beaten Route has exclusive accessibility to limited lodging stock across its geographies, especially in U.S. National Parks enabling unmatched exploration in locations that catch the attention of hundreds of thousands of site visitors each individual calendar year. These outstanding spots will only develop in reputation post pandemic offered their proximity and, with a prolonged-standing status of delivering reliable modest team and private custom made journey encounters, Off the Crushed Path is well positioned for sustained expansion. Both of those DuVine and Off the Crushed Route have been running excursions during COVID and are presently experiencing potent amounts of bookings for long term journey.

Sven-Olof Lindblad, President and Chief Government Officer, said, “Bringing DuVine and Off the Beaten Path into our portfolio of manufacturers will enable us to better serve a broader centered clientele that has a various established of journey passions. The significant stage of quality and integrity of each these organizations can make them ideal associates in our tactic of expanding our system of experiential offerings. Our proven capability to leverage our platform and proficiently cross sector produces the opportunity to speed up growth throughout our complete portfolio, and we will continue to look for additional prospects to broaden and deepen our journey travel choices, equally organically and by way of acquisitions, to mixture larger sized audiences and make larger life time worth from our loyal company.”

Andy Levine, DuVine’s Founder and President, stated, “I have very long admired Lindblad for their extraordinary expeditions and commitment to accountable vacation, a main worth that has also guided DuVine’s philosophy. Our companies share not only a drive to maintain the world’s most compelling cultures and communities, but also the perception that authentic, deeply-rooted encounters make vacation additional satisfying. DuVine’s journeys offer a new standpoint grounded in energetic travel, community taste, and an appreciation of mother nature from the seat of a bicycle. I can not wait to introduce the transformative electric power of bike journey to a better audience of journey seekers.”

Cory Lawrence, Off the Beaten Path’s President, mentioned, “We couldn’t be far more energized to be part of Lindblad Expeditions and Normal Habitat Adventures to even further our mission to improve peoples’ lives by way of extraordinary journey ordeals. With our unique model of travel, potent domestic existence, and modest group and bespoke journey design choices, we are perfectly-positioned to have speedy affect on the recently expanded spouse and children of companies. Expanding consciousness of Off the Overwhelmed Path and its special choices by leveraging the get to and skills of the two Lindblad and Purely natural Habitat is a key possibility for our organization in its 35^th year of operation. We are thrilled!”

Mark Ein, Lindblad’s Chairman, included, “From when we to start with invested in Lindblad in 2015, we have usually considered Lindblad as an prospect to construct an remarkable platform business that would increase, organically and through acquisition, to provide an unparalleled established of indelible activities for its guests. We are proud of what we have already done to date, with outstanding new ship builds and the Pure Habitat acquisition, and, around the very last 12 months, we concentrated on securing the funds that would permit us to speed up our expansion coming out of COVID. We have now identified two great companies in DuVine, poised to capitalize on the explosive development in biking, and Off the Overwhelmed Path, with its exclusive access to U.S. Nationwide Parks, to convey into our Lindblad spouse and children. These are significant actions in our continuing quest to solidify Lindblad as 1 of the finest vacation firms in the earth.”

About Lindblad Expeditions Holdings, Inc.

Lindblad Expeditions Holdings, Inc. is an expedition journey company that focuses on ship-based voyages by way of its Lindblad Expeditions manufacturer and on land-based travel through its subsidiaries, Natural Habitat Adventures, Off the Crushed Path and DuVine Cycling and Journey.

Lindblad Expeditions will work in partnership with Nationwide Geographic to inspire individuals to check out and treatment about the planet. The businesses work in tandem to generate ground breaking marine expedition plans and to endorse conservation and sustainable tourism all around the environment. The partnership’s educationally oriented voyages permit friends to interact with and find out from main scientists, naturalists and researchers whilst finding stunning organic environments, earlier mentioned and under the sea, as a result of state-of-the-artwork exploration instruments.

Pure Habitat associates with the Environment Wildlife Fund to supply and endorse conservation and sustainable vacation that right protects nature. Natural Habitat’s adventures involve polar bear excursions in Churchill, Canada, Alaskan grizzly bear adventures and African safaris.

DuVine Cycling + Journey Co. types and qualified prospects luxury bike excursions in the world’s most astounding locations, from Italy’s sunlight-bleached villages and the medieval towns of Provence to Portugal’s Douro Valley and the vineyards of Napa, California. Guests bike, consume, drink, and rest their way via these regions and a lot of far more though sampling the finest delicacies, accommodations, and wine.

Off the Crushed Route is an outdoor, active vacation company supplying guided smaller team adventures and private personalized journeys that join tourists with the wild character and reliable culture of their locations. Off the Beaten Path’s excursions prolong throughout the globe, with a aim on extraordinary national park activities in the Rocky Mountains, Desert Southwest, and Alaska.