Director/PDMR Shareholding

Carnival Corporation & plc Notification of Transaction of Directors/PDMRS MIAMI (April 16, 2015) - Following its annual shareholders' and Boards ofDirectors' meetings held between April 13 - 15 in London, United Kingdom,Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has announced grants ofrestricted shares to non-executive directors and grants of performance-basedrestricted stock units ("Performance RSUs") to certain executive directors andPDMRs. Non-Executive Director Share Grants Effective on April 14, 2015 grants of restricted shares in Carnival Corporationcommon stock, with a nominal value of US$.01 per share, were made tonon-executive directors pursuant to the Carnival Corporation 2011 Stock Plan.The Compensation Committees of the Boards of Directors approved the grants tonon-executive directors as follows: Non-Executive Director Number of Restricted Shares Sir Jonathon Band 3,369 Richard Glasier 3,369 Debra Kelly-Ennis 3,369 Sir John Parker 3,369 Stuart Subotnick 3,369 Laura Weil 3,369 Randall Weisenburger 3,369 The grants were approved in value form and converted to a number of shares bytaking the closing price of a share of Carnival Corporation common stock onApril 14, 2015. All grants will be released from restriction on the thirdanniversary of the grant date. Including the grant referred to above, the non-executive directors' totalCarnival Corporation total share and restricted stock unit ("RSU") holdings areas follows: Non-Executive Director Total Number of Shares Held Total Number of RSUs Held Sir Jonathon Band 20,552 - Richard Glasier 28,686 - Debra Kelly-Ennis 10,704 3,611 Sir John Parker 36,409 - Stuart Subotnick 36,922 - Laura Weil 33,555 - Randall Weisenburger 87,109 - These notifications relate 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, to be filed by each director with the U.S. Securities& Exchange Commission, can be found at the SEC web site, www.sec.gov, and theCarnival Corporation & plc web site, www.carnivalcorp.com andwww.carnivalplc.com. Executive Director and PDMR Grants The Compensation Committees of the Boards of Directors approved grants of thefollowing target amounts of Performance RSUs to the following individuals: Executive Title Performance RSUs Director Arnold W. Donald President and Chief Executive Officer of 29,479 Carnival Corporation & plc David Noyes Chief Executive Officer of Carnival UK 1,668 Michael Thamm Chief Executive Officer of Costa Group 7,645 The grant to Mr. Donald was made in respect of Carnival Corporation commonstock under the Carnival Corporation 2011 Stock Plan. The awards to Messrs.Noyes and Thamm were made in respect of Carnival plc shares under the Carnivalplc 2014 Employee Share Plan. Each Performance RSU represents one share of Carnival Corporation common stock,with a nominal value of US$.01 per share, or one share in Carnival plc, with anominal value of US$1.66 per ordinary share, as applicable. Each holder ofPerformance RSUs may earn from 0-200% of the stated target amount ofPerformance RSUs to the extent that Carnival Corporation & plc's annualoperating income, as adjusted for certain fuel price changes and currencyexchange rate impact for each of the three fiscal years in the 2015-2017performance cycle and return on invested capital at the end of the three yearperformance cycle exceed specified performance goals, as modified at the end ofthe three year performance cycle for Carnival Corporation & plc's totalshareholder return rank relative to peers. These notifications relate to disclosures made in accordance with 3.1.4(R)(1)(a) of the Disclosure Rules and Transparency Rules. Further details can be found at the Carnival Corporation & plc web site,www.carnivalcorp.com or www.carnivalplc.com.

SOURCE Carnival Plc