Notification of Transaction of Director/PDMRS

NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMRS MIAMI (July 1, 2014) - On June 30, 2014, Carnival Corporation & plc (NYSE/LSE:CCL; NYSE: CUK) was informed that on June 29, 2014, Micky Arison, Chairman ofCarnival Corporation & plc's boards of directors, reached "retirement age"under the terms of his Executive Long-Term Compensation Agreement. Upon Mr. Arison reaching retirement age, certain of the restricted stock ("RS")and performance-based restricted stock unit ("PBS") grants previously awardedto Mr. Arison became subject to taxation. The PBS grant agreements provide forrelease of a portion of the grants previously received by Mr. Arison in orderto address these tax obligations. The following table summarizes the releases that occurred on June 30, 2014: Grant Original Grant Vesting Number of Shares Shares Released on Type Date Date Originally Granted June 30, 2014 PBS 04/11/12 04/11/15 28,008 16,804 PBS 07/16/13 07/16/16 24,145 12,072 As a result of the releases that occurred on June 30, 2014, Mr. Arisonsurrendered 64,848 shares of Carnival Corporation common stock ("Shares") insatisfaction of U.S. withholding tax obligations. Following these transactions,Mr. Arison continues to have economic ownership of 100,903,165 Shares and120,000 options to acquire 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.

SOURCE CARNIVAL PLC