News Release

Notification of Transaction of Director / PDMRS

MIAMI, November 27, 2012 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified on November 26, 2012 that on that date Howard S. Frank, Vice Chairman and Chief Operating Officer of Carnival Corporation & plc, sold 100,816 shares of Carnival Corporation common stock (“CC Shares”) acquired under and pursuant to stock plans administered by Carnival Corporation & plc. The CC Shares were sold on the New York Stock Exchange at an average price of $38.50 per CC Share. Following this transaction, Mr. Frank continues to hold directly and indirectly 126,199 CC 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 Forms 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.