Notification of Transactions of Directors/PDMRS

Carnival Corporation & plc

Notification of Transactions of Directors/PDMRS

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
4A	Details of the transaction: 1
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	Automatic vesting of restricted stock units (including dividend equivalents accumulated thereto during the restricted period) on December 24, 2019 as a result of the Reporting Person becoming eligible for retirement due to his age.
c)	Price(s) and volume(s)	Price(s) $50.94	Volume(s) 23,337
d)	Aggregated information - Aggregated volume - Price	23,337 $50.94
e)	Date of the transaction	2019-12-24
f)	Place of the transaction	Off Market
4B	Details of the transaction: 2
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	Represents a surrender of shares to satisfy the tax obligation on the vesting of restricted stock units released on December 24, 2019 as a result of the Reporting Person becoming eligible for retirement due to his age.
c)	Price(s) and volume(s)	Price(s) $50.94	Volume(s) 18,020
d)	Aggregated information - Aggregated volume - Price	18,020 $50.94
e)	Date of the transaction	2019-12-24
f)	Place of the transaction	Off Market

Arnaldo Perez

General Counsel & Secretary

Carnival Corporation & plc

3655 NW 87^th Avenue

MLGL-815

Miami, FL 33178

T: 305.599.2600