X0306 4 2016-02-09 0 0000884887 ROYAL CARIBBEAN CRUISES LTD RCL 0001316987 Fain Richard D ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY MIAMI FL 33132 1 1 0 0 Chairman & CEO Common Stock 2016-02-09 4 A 0 38847 0 A 934469 D Common Stock 2016-02-09 4 A 0 105222 0 A 1039691 D Common Stock 421412 I See Footnotes Common Stock 5500 I See Footnotes Represents shares of common stock underlying restricted stock units granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan. In accordance with our vesting into retirement policy, award vests in one installment on the first anniversary of the grant date but will be subject to restrictions on transferability through the fourth anniversary of the grant date. Granted in consideration for service as an officer of the issuer. Represents shares of common stock underlying performance shares granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan. The target award was authorized by the Board of Directors on December 12, 2014. The actual number of shares underlying the award was determined by the Compensation Committee on February 9, 2016 based on the Company's Return on Invested Capital for the year ended December 31, 2015. In accordance with our vesting into retirement policy, the award vested in one installment on February 9, 2016 but is subject to restrictions on transferability which will lift on December 12, 2017. Shares owned by Monument Capital Corporation as nominee for various trusts primarily for the benefit of certain members of the Fain family. The reporting person disclaims beneficial ownership of some or all of these shares. Shares owned by The Montana Trust primarily for the benefit of certain members of the Fain family. This form does not include shares owned by other trusts for the benefit of members of the Fain family in which Mr. Fain does not have any beneficial or pecuniary interest nor shares directly or indirectly owned by Mr. Fain's adult children. Carrie Levine Schwartz, Attorney-in-Fact for Richard D. Fain 2016-02-09