Director/PDMR Shareholding

Carnival Corporation & plc

Notification of Transactions of Directors/PDMRS

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Sir Jonathon Band
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Carnival Corporation
b)	Legal Entity Identifier	F1OF2ZSX47CR0BCWA982
4	Details of the transaction
a)	Description of the financial instrument, type of instrument Identification code	Common stock with a nominal value of US$0.01 per share CUSIP: 143658300
b)	Nature of the transaction	Sale of Stock
c)	Price(s) and volume(s)	Price(s) $69.59	Volume(s) 3,840
d)	Aggregated information - Aggregated volume - Price	3,840 $69.59
e)	Date of the transaction	2017-1-16
f)	Place of the transaction	NYSE

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Arnold W. Donald
2	Reason for the notification
a)	Position/status	President & Chief Executive Officer of Carnival Corporation & plc / Director
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Carnival Corporation
b)	Legal Entity Identifier	F1OF2ZSX47CR0BCWA982
4	Details of the transaction
a)	Description of the financial instrument, type of instrument Identification code	Common stock with a nominal value of US$0.01 per share CUSIP: 143658300
b)	Nature of the transaction	Grant of restricted stock units ("RSUs") made pursuant to the Carnival Corporation 2011 Stock Plan. Award of RSUs represent a hypothetical interest in Carnival Corporation common stock. The restriction on the RSUs lapse on the second anniversary of the grant date. The RSUs will accumulate dividend equivalents and may only be settled in shares. The grant was approved by the Compensation Committee as a total value to be received in the form of RSUs. The Compensation Committee also approved that the number of RSUs were determined by dividing the value by the closing price on date of grant.
c)	Price(s) and volume(s)	Price(s) $0.00	Volume(s) 31,939
d)	Aggregated information - Aggregated volume - Price	31,939 $0.00
e)	Date of the transaction	2018-01-16
f)	Place of the transaction	Off Market