Notification of Transaction of Director/PDMRS

NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMRS MIAMI (February 20, 2015) - Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:CUK) announced that on February 17, 2015 the following transactions occurred: David Noyes, Chief Executive Officer of Carnival UK, acquired 3,500 Carnivalplc ordinary shares, with a nominal value of US$1.66 per ordinary share ofCarnival plc ("plc Shares") on release from restriction of the February 15,2012 restricted stock unit award that was granted under the Carnival plc 2005Employee Share Plan ("2005 Plan"). The total number of ordinary shares receivedby Mr. Noyes included additional shares received as a result of the settlementof dividend equivalents accumulated during the restricted period of therestricted stock unit award. Mr. Noyes sold 1,937 plc Shares on the LondonStock Exchange at an average sale price of £28.88 per plc Share. Following thistransaction, Mr. Noyes continues to beneficially own 10,660 plc Shares. Michael Thamm, Chief Executive Officer of Costa Group, acquired 6,714 plcShares, with a nominal value of US$1.66 per ordinary share of Carnival plc, onrelease from restriction of the February 15, 2012 restricted stock unit awardthat was granted under the 2005 Plan. The total number of ordinary sharesreceived by Mr. Thamm included additional shares received as a result of thesettlement of dividend equivalents accumulated during the restricted period ofthe restricted stock unit award. Mr. Thamm sold 3,528 plc Shares on the LondonStock Exchange at an average sale price of £28.88 per plc Share. Following thistransaction, Mr. Thamm continues to beneficially own 51,948 plc Shares. Additionally, on February 18, 2015, Micky Arison, Chairman of the Board ofCarnival Corporation and Carnival plc, surrendered 33,024 shares of CarnivalCorporation common stock ("CC Shares") on release of 86,775 CC Shares fromrestriction. The CC Shares were originally granted on February 15, 2012 underthe Carnival Corporation 2011 Stock Plan. Following this transaction, Mr.Arison continues to beneficially own 128,238,597 CC Shares. This notification relates to disclosures made in accordance with Rule 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 with the U.S. Securities & ExchangeCommission, can be found at the SEC web site, www.sec.gov , and the CarnivalCorporation & plc web site, www.carnivalcorp.com or www.carnivalplc.com