X0305 4 2012-04-11 0000815097 CARNIVAL CORP CCL 0001243482 FRANK HOWARD S CARNIVAL CORPORATION 3655 NW 87TH AVE MIAMI FL 33178 1 1 Vice Chairman & COO Common Stock 2012-04-11 4 A 0 9336 0 A 224000.7986 D Common Stock 2012-04-11 4 F 0 3403 31.25 D 220597.7986 D Common Stock 5880 I Howard S. Frank Grat #5 On April 11, 2012, the reporting person was granted 23,340 performance-based restricted stock units ("Performance RSUs"). The Reporting Person may earn from 0-200% of his target amount of Performance RSUs depending on the extent of Carnival Corporation & plc's earnings per share growth over the three-year performance period ending with fiscal 2014, subject to his continued employment during the performance period (with earlier partial vesting in certain cases upon eligibility for retirement, or death or disability, prior to the expiration of the performance period). Because, as of the date of the grant, the Reporting Person was eligible for retirement due to his age, 9,336 Performance RSU's vested on April 11, 2012. Represents a surrender of shares to satisfy the tax obligation on the vesting of the Performance RSUs. Includes shares acquired pursuant to purchase under, or the dividend reinvestment feature of, the Carnival Corporation Employee Stock Purchase Plan. /s/ Howard S. Frank 2012-04-13