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 & Director of 
                          Carnival Corporation & plc 
b)   Initial notification Initial Notification 
     / Amendment 
3    Details of the issuer, emission allowance market participant, auction 
     platform, auctioneer or auction monitor 
a)   Name                 Carnival Corporation 
b)   Legal Entity         F1OF2ZSX47CR0BCWA982 
4    Details of the transaction 
a)   Description of the   Common stock with a nominal value of US$0.01 per 
     financial            share 
     instrument, type of 
     instrument           CUSIP: 143658300 
     Identification code 
b)   Nature of the        Grant of performance-based restricted stock units 
     transaction          ("PBS RSUs") pursuant to the Carnival Corporation 
                          2011 Stock Plan. Each PBS RSU represents one share 
                          of Carnival Corporation common stock.  Each holder 
                          of PBS RSUs may earn from 0-200% of the stated 
                          target amount of PBS RSUs to the extent that 
                          Carnival Corporation & plc's metrics related to the 
                          following exceed specified performance goals over 
                          the 2020-2022 performance period:  (i) annual 
                          operating income, as adjusted for certain fuel price 
                          changes and currency exchange rate impact; (ii) 
                          return on invested capital; and (iii) certain 
                          environmental, social & governance matters. 
c)   Price(s) and volume         Price(s)                  Volume(s) 
     (s)                           $0.00                     71,959 
d)   Aggregated 
     information          71,959 
     - Aggregated volume  $0.00 
     - Price 
e)   Date of the          2020-02-21 
f)   Place of the         Off Market 
Arnaldo Perez 
General Counsel & Secretary 
Carnival Corporation & plc 
3655 NW 87th Avenue 
Miami, FL 33178 
T: 305.599.2600 

(END) Dow Jones Newswires

February 25, 2020 11:30 ET (16:30 GMT)

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