In the opening scene, a woman is sitting naked on a rocky cliff, seen from behind; part of her breast can be seen. Throughout the movie, fit men are seen bare chested outdoors sailing and indoors weight-lifting.
There are two implied sex scenes. In the empty hull of a boat, boyfriend and girlfriend undress each other, and kiss; sex is implied. Man and woman are shown laying naked in bed together, kissing; sex implied. No explicit nudity in either scene.
At the America's Cup Finals opening sequence in Australia, there are two topless women waving the Australian's team flag on a float. They are seen for 3 seconds.