Dividend Declaration

Carnival Corporation & plc Announces Exchange Rate for Quarterly Dividend

MIAMI, March 2, 2017 -- On January 19, 2017, Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced a quarterly cash dividend of $0.35 (U.S.) per share. The dividend is payable on March 17, 2017, to shareholders of record on February 24, 2017.

Holders of Carnival Corporation common stock or Carnival plc ADSs will receive a dividend payable in U.S. dollars. The dividend for Carnival plc ordinary shares will be payable in sterling unless shareholders elected to receive the dividend in U.S. dollars by February 24, 2017.

Dividends payable in sterling will be converted from U.S. dollars at the exchange rate quoted by the Bank of England in London at 12 noon on March 1, 2017 (US$1 = 81.18201 pence). Accordingly, the dividend payable in sterling on March 17, 2017, will be 28.41370 pence per share.

Carnival Corporation & plc is the largest leisure travel company in the world, and among the most profitable and financially strong in the industry.  With a portfolio of 10 cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Line, Fathom, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard,  P&O Cruises (Australia) and P&O Cruises (UK).

Together, these brands operate 102 ships visiting over 700 ports around the world and totalling 226,000 lower berths with 18 new ships scheduled to be delivered between 2017 and 2022. Carnival Corporation & plc also operates Holland America Princess Alaska Tours, the leading tour companies in Alaska and the Canadian Yukon. Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the only group in the world to be included in both the S&P500 and the FTSE 100 indices.

Additional information can be found on http://www.carnival.com/, http://www.fathom.org/, http://www.hollandamerica.com/, http://www.princess.com/, http://www.seabourn.com/, http://www.aida.de/, http://www.costacruise.com/, http://www.cunard.com/, http://www.pocruises.com.au/ , and http://www.pocruises.com/.

CONTACT: MEDIA CONTACT, Carnival Corporation & plc, Roger Frizzell, 1 305 599 2600, ext. 67862; INVESTOR RELATIONS CONTACT, Carnival Corporation & plc, Beth Roberts, 1 305 406 4832