Carnival PLC – Intragroup Transaction

CARNIVAL PLC – INTRAGROUP TRANSACTION

London, January 30, 2023

To optimize certain existing intercompany loan balances between Carnival plc and Carnival Corporation, Carnival plc announces in accordance with Listing Rule 9.6.4R that it has agreed to allot and issue 1 ordinary share of US$1.66 (the "Share") to Carnival Corporation at a subscription price of US$1 billion. The Share will not carry the right to vote while it is owned by Carnival Corporation, in accordance with the Articles of Association of Carnival plc.

The transaction does not impact the consolidated liquidity, financial position or net assets of Carnival Corporation & plc, and supports intercompany balance sheet management, optimizing the standalone Carnival plc balance sheet.

Admission

Applications have been made to the Financial Conduct Authority for the Share to be admitted to listing on the premium listing segment of the Official List, and to the London Stock Exchange for the Share to be admitted to trading on the London Stock Exchange's main market for listed securities ("Admission").

The transaction is conditional on Admission, which is expected to occur on January 31, 2023.