Director/PDMR Shareholding

Notification of Transactions of Directors / PDMRs MIAMI, January 16, 2014 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:CUK) announced that on January 14, 2014 grants were made to certain executivedirectors and PDMRs pursuant to the Carnival Corporation 2011 Stock Plan (the"2011 Plan") and Carnival plc 2005 Employee Share Plan (the "2005 Plan"). Theawards were approved in value form and converted to a number of shares bytaking the closing price of a share of Carnival Corporation common stock onJanuary 14, 2014 for those receiving Carnival Corporation awards, and by takingthe closing price of a Carnival plc ordinary share on January 14, 2014 forthose receiving Carnival plc awards. With respect to Micky Arison, Chairman of the Boards of Carnival Corporation &plc, the grant of Carnival Corporation restricted common stock (the "CCRestricted Shares") was made pursuant to the 2011 Plan and Mr. Arison'sExecutive Long-Term Compensation Agreement. Mr. Arnold W. Donald, President andChief Executive Officer of Carnival Corporation & plc, received a grant of CCRestricted Shares pursuant to the 2011 Plan and the terms of Mr. Donald'semployment agreement. Awards of Carnival plc restricted share unitsrepresenting a hypothetical interest in Carnival plc ordinary shares ("plcRSUs") were made pursuant to the 2005 Plan to David Dingle, Chief ExecutiveOfficer of Carnival UK and Michael Thamm, Chief Executive Officer of CostaCrociere S.p.A. The CC Restricted Shares and plc RSUs will be released fromrestriction on January 14, 2017. The awards described above were made to these executive directors and PDMRs inthe following amounts: Name CC Restricted Shares plc RSUsMicky Arison 63,242 -Arnold W. Donald 50,578 -David Dingle - 15,486Michael Thamm - 20,870 Following the awards described above, the following executive directors andPDMRs direct and indirect holdings are: Name CC Shares plc SharesMicky Arison 166,728,116 -Arnold W. Donald 74,355 -David Dingle - 65,873Michael Thamm - 42,456 This notification relates to disclosures made in accordance with 3.1.4(R)(1)(a)of the Disclosure Rules and Transparency Rules. Further details and a copy of the Forms 4, Statement of Changes in BeneficialOwnership of Securities, being filed with the U.S. Securities & ExchangeCommission, can be found at the SEC web site, www.sec.gov, and the CarnivalCorporation & plc web site located at www.carnivalcorp.com orwww.carnivalplc.com .

SOURCE Carnival Plc