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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 of Carnival Corporation & plc / Director

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

4A

Details of the transaction: 1

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

Grant of performance-based restricted stock units ("Performance RSUs") pursuant to the Carnival Corporation 2011 Stock Plan. Each Performance RSU represents one share of Carnival Corporation common stock.  Each holder of Performance RSUs may earn from 0-200% of the stated target amount of Performance RSUs to the extent that Carnival Corporation & plc's annual operating income, as adjusted for certain fuel price changes and currency exchange rate impact for each of the three fiscal years in the 2018-2020 performance cycle and the average of each year's return on invested capital at the end of the three-year performance cycle exceed specified performance goals.

c)

Price(s) and volume(s)

Price(s)

$0.00

Volume(s)

43,623

d)

Aggregated information

- Aggregated volume

- Price

 

43,623

$0.00

e)

Date of the transaction

2018-02-12

f)

Place of the transaction

Off Market

4B

Details of the transaction: 2

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

Acquired 49,985 Performance RSU, originally granted on April 14, 2015 pursuant to the Carnival Corporation 2011 Stock Plan. Each Performance RSU represents one share of Carnival Corporation common stock.  The reporting person was eligible to earn from 0-200% of the stated target amount of Performance RSUs to the extent that Carnival Corporation & plc's annual earnings before interest and taxes, as adjusted for certain fuel price changes and exchange rate impact, and return on invested capital at the end of the three year performance cycle exceed specified performance goals, as modified at the end of the three year performance cycle for Carnival Corporation & plc's total shareholder return rank relative to peers. This includes shares from the settlement of dividend equivalents accumulated during the Performance RSU restricted period.

c)

Price(s) and volume(s)

Price(s)

$0.00

Volume(s)

49,985

d)

Aggregated information

- Aggregated volume

- Price

 

49,985

$0.00

e)

Date of the transaction

2018-02-13

f)

Place of the transaction

NYSE

4C

Details of the transaction: 3

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

Sale of shares to satisfy the tax obligation on the release of vested Performance RSU

c)

Price(s) and volume(s)

Price(s)

$68.7349

Volume(s)

19,759

d)

Aggregated information

- Aggregated volume

- Price

 

19,759

$68.7349

e)

Date of the transaction

2018-02-13

f)

Place of the transaction

NYSE

 

 

Arnaldo Perez

General Counsel & Secretary

Carnival Corporation & plc

3655 NW 87th Avenue

MLGL-815

Miami, FL 33178

T: 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.