附件 10.4

VIKING CRUISES LTD

7.00% SENIOR 到期日為2029年的債券

第五個補充信託契約

日期為2024年10月24日

1-4482

契約書

日期為2021年2月2日

紐約梅隆銀行信託公司，作為受託人

第五期補充契約（此」補充簽約」)，日期為 2024 年 10 月 24 日，在維京控股有限公司中，是一家根據百慕達法律組織而成立的有限責任公司（」保證實體」或」VHL」)，維京郵輪有限公司，豁免 根據百慕達法律組織的有限責任公司註冊成立的公司（」公司」)，其現有擔保人（」現有擔保人」和紐約銀行梅隆信託公司，N.A.， 一家國家銀行協會，以下簡稱「契約」下的受託人（以此身份，」受託人”).

獨奏會

考慮到，本公司 至今已於 2021 年 2 月 2 日起執行並交付給受託人的契約（如在本文日期前的補充和修訂，」契約」)，根據該公司已發行 5 億元 其 2029 年到期的 7.000% 高級債券的總本金額（」注意事項」），由現有擔保人保證；

考慮到，《契約》第 9.01 (a) (4) 條另有規定，該公司、其擔保人及 受託人可在未償還債券持有人同意的情況下修改或補充該契約，作出任何可為持有人提供任何額外權利或福利，或不會對其下的法定權利造成負面影響的任何更改 任何有關持有人在任何實質方面的承諾書；

考慮到，VHL 是該公司的母體，希望保證所有 本公司根據本文所載之條款及細則所承擔的債券及契約所承擔的義務，為持有人及受託人的利益；

考慮到，發行人希望修訂《契約》的前言及第 1.01、4.03 及 10.05 條，並增加新第 10.06 及 10.07 條 該簽約，以提供 VHL 能夠對本公司在債券和契約下的義務提供全面和無條件的保證，並在本補充契約生效後，根據以下條款 如 VHL 同意提供此類全面和無條件保證，VHL 可向受託人和債券持有人提供其經審核的綜合年度財務報表和簡明合併季度財務報表，而代替 本公司目前的報告義務；

考慮到，本公司已妥善通過並向受託人交付以下的決議 其董事會授權執行及批准本補充契約；

考慮到，所有必要的條件 授權本公司及現有擔保人執行及交付本補充承諾書，並使本補充承諾對本公司、保證實體及現有擔保人有效及具約束力 遵守或已經進行或執行；以及

鑑於根據《契約》第 9.01 條，受託人獲授權 執行並交付此補充承諾書。

現在，因此，考慮到處所以及其他好處和有價值 當事人特此承認的考慮因素是否足夠及充足，當事人同意下列事項：

第一條

DEFINITIONS

第1.01節 定義所有大寫術語的使用且未在此定義中另有規定，其含義應如信託契約中所述。

第二條

修正案

第2.01節 修訂事項.

(a) 對契約的前言現在修改為以下文字（建議添加到契約中的文字如下所示 粗體雙底線):

「日期為2021年2月2日的契約，當事方維京郵輪有限公司（以下簡稱「公司」），一家根據百慕達法律組織成立並具有有限責任的免稅公司， VHL （以下定義如下），擔保人（如 下文 本定義（Defined）之一方及紐約梅隆信托公司，一家全国性銀行協會，作為受託人（身為該等身份的「受託人」）。

本公司， VHL，擔保人和受託人為了互利，並且為了公司到期於2029年的7.000%資本額優先票據（「債券」）的持有人（定義如下）的平等和均等利益，同意如下：

（b）將債券契約的第1.01條修訂如下，在按字母順序插入以下新定義詞彙（擬加入債券的文本以粗體雙底線顯示 」):

“「VHL」指的是維京控股有限公司，根據百慕達法律成立的有限責任公司及其根據本債券擔保公司根據本債券將公司的債務和債券所述的債券下的擔保公司的繼承人和受讓人，直至該等人的擔保根據本債券的規定被釋放為止。

「VHL擔保」指的是VHL對公司根據債券及本債券條款下的債務提供的全面和無條件擔保。第本契約的第10.06條。

(c) 本契約的第4.03條現在修改為全文如下（在契約中建議新增的文字顯示為 粗體雙下劃線):

“第4.03節 報告。

(a) 只要有任何債券未償還，公司將向受託人提供：

（1）在公司財政年度結束後的120天內，從截至2021年12月31日結束的財政年度開始，年度報告，包含以下信息，其細節水平基本相當並在範圍上與認股說明書及以下信息相似：（A）公司截至最近兩個財政年度末的綜合賬戶餘額表，以及公司最近三個財政年度的綜合收入表和現金流量表，包括對這些財務報表的完整註腳

有關財務報表的報表及獨立核數師報告；(B) 本公司的專業損益表及資產負債表資料，連同說明 註腳，就該年報有關的最近完成財政年度開始發生的任何重大收購、處置或重資重資金（除非已提供此類專案資料，除非已提供此類專案資料 根據下文第 (2) 或 (3) 條) 的先前報告中；只須在可用的範圍內提供該等專案財務資料，而不會出現不合理的費用；(C) 對經審核人員進行營運及財務檢討 財務報表，包括討論營運結果（包括按業務部分劃分的討論）、財務狀況和流動性和資本資源，以及重要承諾和應變情況的討論 會計政策；(D) 公司業務、管理層及股東的描述、重大附屬交易及重大債務工具；及 (E) 重要風險因素及最近發展；提供 在所有重大方面符合表格適用的要求的任何披露項目 20-F 根據美國外匯法案，有關該項目的年度報告將被視為 滿足本公司在本條 (1) 條對該項目所承擔的義務；

(2) 在 60 天內 於截至 2021 年 3 月 31 日的財政季度開始，本公司每個財政年度的前三個財政季度結束後，季度報告包含以下資料：(A) 未經審核簡明 截至該季度末的綜合資產負債表及截至未經審核簡資產負債表日期截至未經審核簡明資產負債表及前一年截止季度及年度截至日期之未經審核簡明收入及現金流報表 本公司的期間（可以按照表格形式呈交），連同簡明的註腳披露；(B) 本公司的專業損益表和資產負債表資料，以及任何說明註腳 自該季度報告所涉及的最近完成財政季度開始以來發生的重大收購、處置或重資重資金（除非該等專案資料已在一份文件中提供 根據以下的先前報告 子條款 本第 (2) 條的 (A) 或 (C) 條；只須在可用的範圍內提供該等專案財務資料，而不得不合理的費用； (C) 未經審核財務報表的營運及財務檢討，包括討論本公司合併財務狀況及營運業績，以及當前季度之間的任何重大變化 及上一年的相應期間；及 (D) 最近的重大發展；及

(3) 立即後 發生本公司及受限制附屬公司的任何重大收購、處置或重組，或本公司任何高級行政主任變更，或本公司或任何其他核數師變更 本公司公開宣布的重要事件，包含該等事件描述的報告。

(b) 本公司會在提供上述各類報告的同時，本公司將在其網站或 IntraLinks 或任何類似密碼保護的線上數據系統上發布該報告，這些報告將需要保密。 確認（但不限制本公司或其附屬公司證券交易時獲得該等信息的收件人）。

(c) 本公司將於提交上述每份報告後的十個工作日內舉行電話會議 與報告有關。有關訪問此類電話會議的詳細信息將在該電話開始前至少 24 小時發布在

website, IntraLinks or other online data system on which the report is posted, provided, however, that, so long as the VHL Guarantee remains in effect, if VHL holds a conference call to discuss the financial condition and results of operations of VHL and its consolidated Subsidiaries for the most recently-ended period for which financial statements have been or will be delivered pursuant to this Section 4.03, the Company will not be required to hold a second, separate call for the Holders as long as access information regarding such conference call is made available at VHL’s investor relations website ahead of such conference call.

(d) The annual report required by Section 4.03(a)(1) above will include a presentation either on the face of the financial statements or in footnotes thereto of the assets and liabilities and operating results of the Guarantors separate from the assets and liabilities and operating results of the non-Guarantor Subsidiaries. If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries and such Subsidiaries are Significant Subsidiaries, then the quarterly and annual financial information required by the preceding paragraphs will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company.

(e) All financial statements shall be prepared in accordance with IFRS; provided that the Board of Directors of the Company may elect not to comply with the treatment of direct marketing and advertising costs under IAS 38, Intangible Assets, and, as determined in good faith by the Board of Directors of the Company, any other IFRS requirements inconsistent with industry practice. The footnotes to such financial statements shall explain in reasonable detail any such non-IFRS practices used in the preparation of such financial statements. Except as provided in the second preceding sentence, all financial statements shall be prepared in accordance with IFRS on a consistent basis for the periods presented; provided, however, that the reports set forth in Section 4.03(a) above may, in the event of a change in applicable IFRS present earlier periods on a basis that applied to such periods, subject to the provisions of this Indenture. Except as provided for above, no report need include separate financial statements for the Company or Subsidiaries of the Company or any disclosure with respect to the results of operations or any other financial or statistical disclosure not of a type included in the Offering Memorandum.

(f) In addition, for so long as any Notes remain outstanding, the Company will furnish to the Holders and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the U.S. Securities Act.

(g) The Trustee shall have no duty to examine any of such reports, information or documents to ascertain whether they contain the information and otherwise comply with the foregoing; the sole duty of the Trustee in respect of same being to file the same and make them available to Holders during normal business hours upon reasonable prior written request. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute actual or constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants under this Indenture (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates).

Notwithstanding any other provision of this Section 4.03, so long as the VHL Guarantee remains in effect, the reports, documents and other information required to be delivered to the Holders of the Notes pursuant to this Section 4.03 may be satisfied by VHL (or any successor parent entity of the Company that assumes the guarantee obligations hereunder of VHL) filing

or furnishing with the SEC, within the time periods specified in this Section 4.03, its annual and quarterly reports (other than the fourth quarter) and such other financial information required to be filed by it (or any such successor entity, as applicable) pursuant to Section 13 or 15(d) of the Exchange Act and such reports comply with the requirements of Rule 3-10 of Regulation S-X promulgated by the SEC (or any successor provision).

The Trustee may conclusively presume without independent investigation or inquiry that the (i) VHL Guarantee constitutes a full and unconditional guarantee of the Notes within the meaning of Rule 3-10 of Regulation S-X promulgated by the SEC (or any successor provision) and (ii) the VHL annual and quarterly reports and such other financial information referred to in the preceding paragraph comply with the requirements of Rule 3-10 of Regulation S-X promulgated by the SEC (or any successor provision), and the Trustee shall, in each case, be fully protected and have no liability in so presuming.”

(d) Section 10.05 of the Indenture is hereby amended to read in its entirety as follows (text that is proposed to be added to the Indentures is shown in bold double underlined):

“Section 10.05 Note Guarantees Release.

(a) The Note Guarantee of a Guarantor will automatically be released:

(1) in connection with any sale or other disposition of all or substantially all of the assets of that Guarantor (including by way of merger, consolidation, amalgamation or combination) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition does not violate Section 4.10 of this Indenture;

(2) in connection with any sale or other disposition of Capital Stock of that Guarantor to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition does not violate Section 4.10 of this Indenture and the Guarantor ceases to be a Restricted Subsidiary as a result of the sale or other disposition;

(3) if the Company designates such Guarantor to be an Unrestricted Subsidiary in accordance with the applicable provisions of this Indenture;

(4) upon repayment of the Notes; or

(5) upon legal defeasance, covenant defeasance or satisfaction and discharge of this Indenture as provided in Section 8.02, Section 8.03 and Section 11.01;

provided that, in each case, the Company or such Guarantor has delivered to the Trustee an Officer’s Certificate (which may be combined with any other Officer’s Certificate required to be delivered pursuant to other provisions referenced in the foregoing clauses) stating that all conditions precedent provided for in this Indenture relating to such release have been complied with.

(b) Any additional Note Guarantee by a Guarantor pursuant to Section 4.17 hereof shall be automatically released when the Indebtedness that caused such Guarantor to enter into the additional Note Guarantee pursuant to Section 4.17 hereof has been fully discharged or no longer Guaranteed.

(c) The VHL Guarantee will be automatically released:

(1) in connection with any sale or other disposition of all or substantially all of the assets of VHL (including by way of merger, consolidation, amalgamation or combination) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary;

(2) upon repayment of the Notes; or

(3) upon legal defeasance, covenant defeasance or satisfaction and discharge of this Indenture as provided in Section 8.02, Section 8.03 and Section 11.01;

provided that, in each case, the Company or VHL has delivered to the Trustee an Officer’s Certificate (which may be combined with any other Officer’s Certificate required to be delivered pursuant to other provisions referenced in the foregoing clauses) stating that all conditions precedent provided for in this Indenture relating to such release have been complied with.”

(e) Section 10.06 and Section 10.07 are hereby added in the Indenture, which shall provide as follows (text that is proposed to be added to the Indentures is shown in bold double underlined):

“Section  10.06 VHL Guarantee.

(a) Subject to this Section 10.06, VHL hereby fully and unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and their respective successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the Obligations of the Company hereunder or thereunder:

(1) the principal of, premium, if any, on, and interest and Additional Amounts, if any, on the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of, premium, if any, on and interest and Additional Amounts, if any, on the Notes (to the extent permitted by law) and all other Obligations of the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and

(2) in case of any extension of time of payment or renewal of any Notes or any of such other Obligations, that same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, VHL will be obligated to pay the same immediately. VHL agrees that this is a guarantee of payment and not a guarantee of collection.

(b) VHL hereby agrees that its obligations hereunder are unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or

defense of a guarantor. VHL hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this VHL Guarantee will not be discharged except by complete performance of the Obligations contained in the Notes and this Indenture.

(c) If any Holder or the Trustee is required by any court or otherwise to return to or for the benefit of the Company, VHL, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company, VHL, or the Guarantors, any amount paid by either the Company, VHL, or the Guarantors to the Trustee, or such Holder, this VHL Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect.

(d) VHL agrees that it will not be entitled to any right of subrogation in relation to the Holders in respect of any Obligations guaranteed hereby until payment in full of all Obligations guaranteed hereby. VHL further agrees that, as between VHL, on the one hand, and the Holders, and the Trustee, on the other hand, (1) the maturity of the Obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this VHL Guarantee, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such Obligations as provided in Article 6 hereof, such Obligations (whether or not due and payable) will forthwith become due and payable by VHL for the purpose of this VHL Guarantee. VHL will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders, or the Trustee under the VHL Guarantee.

Section 10.07 Limitation on VHL Liability.

(a) VHL, the Trustee, and, by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the VHL Guarantee does not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar national, federal, local or state law, a voidable preference, financial assistance or improper corporate benefit or violate the corporate purpose of VHL or any applicable capital maintenance or similar laws or regulations affecting the rights of creditors generally under any applicable law or regulation, in each case, to the extent applicable to such VHL Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and VHL hereby irrevocably agree that the Obligations of VHL will be limited to the maximum amount that will, after giving effect to such maximum amount and all other contingent and fixed liabilities of VHL that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of VHL in respect of the Obligations of VHL under this Article 10, result in the Obligations of VHL under its VHL Guarantee not constituting a fraudulent transfer or conveyance or a voidable preference, financial assistance or improper corporate benefit, or violating the corporate purpose of VHL or any applicable capital maintenance or similar laws or regulations affecting the rights of creditors generally under any applicable law or regulation.

(b) The VHL Guarantee shall be limited to the net assets of VHL at the relevant time.”

ARTICLE III

THE VHL GUARANTEE

Section 3.01 The VHL Guarantee. VHL, by delivering an executed counterpart of this Supplemental Indenture, fully and unconditionally guarantees all of the Company’s Obligations under the Notes and the Indenture for the benefit of the Holders and the Trustee on the terms and subject to the conditions set forth in the Indenture (as amended by this Supplemental Indenture).

ARTICLE IV

EFFECT

Section 4.01 Effectiveness. This Supplemental Indenture shall become effective as of the date first above written upon its execution and delivery by the parties hereto.

ARTICLE V

MISCELLANEOUS

Section 5.01 Governing Law. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

Section 5.02 No Recourse Against Others. No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, the Indenture, the Note Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

Section 5.03 Counterparts Originals. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy will be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (i.e., “pdf” or “tif” or any electronic signature complying with the U.S. federal ESIGN Act of 2000) or other electronically imaged transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (i.e., “pdf” or “tif” or any electronic signature complying with the U.S. federal ESIGN Act of 2000) or other electronically imaged transmission shall be deemed to be their original signatures for all purposes. Any certificate and any other document delivered in connection with this Supplemental Indenture may be signed by or on behalf of the signing party by manual, facsimile or electronic format (i.e., “pdf” or “tif” or any electronic signature complying with the U.S. federal ESIGN Act of 2000) or other electronically imaged transmission. The Trustee shall not have a duty to inquire into or investigate the authenticity or authorization of any such electronic signature and shall be entitled to conclusively rely on any such electronic signature without any liability with respect thereto.

Section 5.04 Headings. The headings of the Articles and Sections of this Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a

part of this Supplemental Indenture and will in no way modify or restrict any of the terms or provisions hereof.

Section 5.05 Trustee Not Responsible for Recitals. The statements and recitals contained herein shall be taken as statements and recitals of the Company, the Guaranteeing Entity and the Guarantors, and the Trustee does not assume any responsibility for their correctness. The Trustee makes no representations as to, and shall not be responsible in any manner whatsoever for or in respect of, (i) the validity, sufficiency or adequacy of this Supplemental Indenture, (ii) the proper authorization hereby by the Company by action or otherwise, (iii) the due execution hereof by the Company, the Guaranteeing Entity and the Guarantors or (iv) the consequences of any amendment herein provided for. In entering into this Supplemental Indenture, the Trustee shall be afforded the same rights, protections, privileges, immunities and indemnities as are afforded in the Indenture as if the same were fully set forth herein.

Section 5.06 Adoption, Ratification and Confirmation. The Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

Section 5.07 Enforceability. The Company, VHL and the Existing Guarantors each hereby represent and warrant that this Supplemental Indenture is their legal, valid and binding obligation, enforceable against each of them in accordance with its terms.

Section 5.08 Severability. In case any provision in this Supplemental Indenture is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby.

Section 5.09 Company Instruction. The Company hereby requests and directs the Trustee to join with the Company, the Guarantors and VHL in the execution of this Supplemental Indenture.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first written above.

 

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]

[Signature Page to Fifth Supplemental Indenture (2029 Senior Notes)]