Director/PDMR Shareholding

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/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Carnival Corporation
b)	Legal Entity Identifier	F1OF2ZSX47CR0BCWA982
4	Details of the transaction
a)	Description of the financial instrument, type of instrument Identification code	Common stock with a nominal value of US$0.01 per share CUSIP: 143658300
b)	Nature of the transaction	Open market acquisition of shares.
c)	Price(s) and volume(s)	Price(s) $46.28 $46.29 $46.30 $46.31	Volume(s) 100 1400 1100 6045
d)	Aggregated information - Aggregated volume - Price	8,645 $46.3051
e)	Date of the transaction	December 26, 2018
f)	Place of the transaction	NYSE

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/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Carnival Corporation
b)	Legal Entity Identifier	F1OF2ZSX47CR0BCWA982
4	Details of the transaction
a)	Description of the financial instrument, type of instrument Identification code	Common stock with a nominal value of US$0.01 per share CUSIP: 143658300
b)	Nature of the transaction	Open market acquisition of shares by the Arnold W. Donald Revocable Trust Uad 5/26/98.
c)	Price(s) and volume(s)	Price(s) $45.75  $46.63 $46.64  $46.66 $46.67	Volume(s) 2200 200 640 250 9660
d)	Aggregated information - Aggregated volume - Price	12,950 $46.51
e)	Date of the transaction	December 26, 2018
f)	Place of the transaction	NYSE

Arnaldo Perez

General Counsel & Secretary

Carnival Corporation & plc

3655 NW 87^th Avenue

MLGL-815

Miami, FL 33178

T: 305.599.2600