MIAMI (20 February 2018) - Carnival
Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the "Company") is committed to
increasing shareholder returns through a combination of dividend distributions
and share repurchases. In line with that policy, and as previously
announced, on 6 April 2017 the Company's board of directors approved a modification
of the general authorization under the share repurchase programme, which
replenished the remaining authorized purchases remaining at the time of
approval to US$1 billion, covering both Carnival Corporation common stock
and Carnival plc ordinary shares (the "Programme"). At this time there is US$394 million
remaining under the Programme.
The purpose of the Programme is to
reduce the Company's share capital as part of its commitment to increasing
shareholder returns through the repurchase of both Carnival Corporation common
stock and Carnival plc ordinary shares. As part of the Programme,
the Company has entered into arrangements with brokers to continue to repurchase
on behalf of the Company ordinary shares in Carnival plc, subject to
certain pre‑set parameters, through 4 July 2018 (in line with the share
repurchase authority granted at the Carnival plc 2017 annual general meeting). In accordance with that authority, the maximum
number of Carnival plc shares remaining to be repurchased will not exceed 16 million.
The Programme may continue during any closed periods of the Company which may
fall during this period.
Carnival plc ordinary shares repurchased under the Programme will be held