News Release

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Notification of Transaction of Director/PDMRs

MIAMI (April 5, 2016) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified on April 4, 2016 that on April 1, 2016 Richard Glasier, a member of Carnival Corporation & plc's Boards of Directors, exercised options to purchase 10,000 shares of Carnival Corporation common stock, with a nominal value of US$0.01 per share (the "Shares"), at $47.83 per Share.  The options were scheduled to expire on October 16, 2016.  Upon exercise, Mr. Glasier sold all 10,000 Shares on the New York Stock Exchange at an average sale price of $52.43 per Share. Following these transactions, Mr. Glasier continues to beneficially own 24,686 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 Form 4, Statement of Changes in Beneficial Ownership of Securities, to be filed with the U.S. Securities & Exchange Commission, can be found at the SEC web site, www.sec.gov, and the Carnival Corporation & plc web site, www.carnivalcorp.com or www.carnivalplc.com. For all other queries, please contact the Carnival Corporation & plc Legal Department at 1-305-599-2600.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Carnival Corporation (PR)'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.