X0306 4 2020-04-09 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) 2020-04-09 4 A 0 27815 12.42 A 80328.36 D Trust Shares (beneficial Interest In Special Voting Share) 565199 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. The grant, which reflects the reporting person voluntarily deferring their salary for April to June 2020 in the form of restricted stock units ("RSUs") as described in FN3, was approved by the Compensation Committee. The number of RSUs was determined by dividing the deferred salary by the closing price of a share of Carnival Corporation common stock on April 9, 2020, then rounding down to the nearest whole share. Issued pursuant to the Carnival Corporation 2020 Stock Plan. The restriction on the RSUs lapses on February 12, 2021. Includes shares acquired pursuant to the purchase under, or the dividend reinvestment feature of, the Carnival Corporation Employee Stock Purchase Plan or brokerage account. /s/ Arnold W. Donald 2020-04-13