Update on Carnival Corporation Announcements

March 31, 2020

CARNIVAL CORPORATION & PLC ANNOUNCES PUBLIC OFFERING OF COMMON STOCK, PRIVATE OFFERING OF SENIOR SECURED NOTES,  SENIOR CONVERTIBLE NOTES, SUSPENSION OF DIVIDEND AND OTHER ANNOUNCEMENTS

Carnival Corporation & plc is hereby announcing that today it has commenced an underwritten public offering of shares of common stock of Carnival Corporation, suspending the payment of dividends on the common stock of Carnival Corporation and the ordinary shares of Carnival plc as well as updates to debt facilities, on Form 8-K with the U.S. Securities and Exchange Commission (“SEC”).

• Schedule A contains announcement of Equity and Notes Offerings, dividend payment suspension and updates to debt facilities

• Schedule B contains disclosure provided to potential investors

• Schedule C contains press release of Carnival Corporation and Carnival plc dated March 31, 2020 (relating to Equity Offering)

• Schedule D contains press release of Carnival Corporation and Carnival plc dated March 31, 2020 (relating to offering of the Notes)

The Directors consider that within the Carnival Corporation and Carnival plc dual listed company arrangement, the most appropriate presentation of Carnival plc's results and financial position is by reference to the Carnival Corporation & plc U.S. GAAP consolidated financial statements.

MEDIA CONTACT   INVESTOR RELATIONS CONTACT

Roger Frizzell  Beth Roberts

001 305 406 7862   001 305 406 4832

The Form 8-K is available for viewing on the SEC website at www.sec.gov under Carnival Corporation or Carnival plc or the Carnival Corporation & plc website at www.carnivalcorp.com or www.carnivalplc.com.