X0306 4 2020-01-16 0001125259 CARNIVAL PLC CUK 0001083206 DONALD ARNOLD W CARNIVAL CORPORATION 3655 N.W. 87TH AVENUE MIAMI FL 33178 1 1 President & CEO Trust Shares (beneficial Interest In Special Voting Share) 2020-01-16 4 F 0 13620 50.9086 D 92784.675 D Trust Shares (beneficial Interest In Special Voting Share) 2020-01-17 4 F 0 13264 51.8148 D 83066.675 D Trust Shares (beneficial Interest In Special Voting Share) 2020-01-17 4 A 0 21676 0 A 104742.675 D Trust Shares (beneficial Interest In Special Voting Share) 2020-01-17 4 F 0 8530 51.90 D 96212.675 D Trust Shares (beneficial Interest In Special Voting Share) 483391 I By The Arnold W. Donald Revocable Trust Uad 5/26/98 Represents trust shares (the "Trust Shares") of beneficial interests in P&O Princess Voting Trust (the "Trust"). In connection with the dual listed company transaction between Carnival plc (fka P&O Princess Cruises plc) and Carnival Corporation (the "DLC Transaction"), Carnival plc issued one special voting share to the Trust and, following a series of transactions, the Trust Shares were distributed to holders of common stock of Carnival Corporation (the "Carnival Corporation Common Stock"). Since completion of the DLC Transaction on April 17, 2003, if Carnival Corporation issues Carnival Corporation Common Stock to a person, the Trust will issue an equivalent number of Trust Shares to such person. The Trust Shares are paired with shares of Carnival Corporation Common Stock and are represented by the same stock certificate. The Trust Shares represent a beneficial interest in the Carnival plc special voting share. Represents a surrender of shares to satisfy a tax obligation on the vesting of restricted stock units ("RSUs"), and settlement of dividend equivalents granted January 16, 2018. Represents a surrender of shares to satisfy a tax obligation on the vesting of RSUs, and settlement of dividend equivalents granted January 17, 2017. Grant of RSUs made pursuant to the Carnival Corporation 2011 Stock Plan. Award of RSUs represent a hypothetical interest in Carnival Corporation common stock. The RSUs will vest 50% as of January 17, 2020 due to the Reporting Person becoming eligible for retirement due to his age and 50% as of January 17, 2022. The RSUs will accumulate dividend equivalents and may only be settled in shares. The grant was approved by the Compensation Committee as a total value to be received in the form of RSUs. The Compensation Committee also approved that the number of RSUs were determined by dividing the value by the closing price on date of grant. Represents a surrender of shares to satisfy a tax obligation on the vesting of RSUs referenced in FN(4). Includes shares acquired pursuant to purchases made under the Carnival Corporation Employee Stock Purchase Plan (ESPP), dividend reinvestments under the ESPP or the reporting person's brokerage account and/or dividend equivalent shares associated with the release of RSU grants. /s/ Arnold W. Donald 2020-01-21