Carnival PLC – PUBLICATION OF SHAREHOLDER DOCUMENT

CARNIVAL PLC

PUBLICATION OF SHAREHOLDER DOCUMENT

MIAMI, March 2, 2026 — Carnival Corporation and Carnival plc (NYSE/LSE: CCL;
NYSE: CUK) announces that it has published a combined shareholder document (the
«Shareholder Document») in relation to (i) the proposed unification of their
dual listed company structure under a single company, Carnival Corporation, with
Carnival plc as its wholly owned UK subsidiary, creating a simpler corporate
structure and single global share price for the combined company (the «DLC
Unification»), and (ii) migration of Carnival Corporation from the Republic of
Panama, where Carnival Corporation is currently domiciled, to Bermuda under the
name «Carnival Corporation Ltd.» (the «Redomiciliation»), as recommended by the
Boards of Directors. The Shareholder Document comprises a registration statement
on Form S-4 and a joint definitive proxy statement in compliance with Regulation
14A of the U.S. Securities Exchange Act of 1934 and section 897 of the UK
Companies Act 2006. The DLC Unification will be effected by means of a scheme of
arrangement under Part 26 of the UK Companies Act 2006 (the «Scheme»).

The Shareholder Document is being posted to shareholders of Carnival Corporation
& plc and is now available on the websites at www.carnivalcorp.com/investors and
www.carnivalplc.com/investors. A copy of the Shareholder Document has been
submitted to the National Storage Mechanism and is available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Transaction conditions and timetable

The DLC Unification and Redomiciliation are subject to a number of conditions,
including, among others, approval of the proposals at the special shareholder
meetings and the court meeting, sanction of the Scheme of Arrangement by the
Court in the UK and the receipt of certain antitrust and regulatory clearances.
If the proposals are approved by Carnival Corporation and Carnival plc
shareholders, and all other conditions to the completion of the transactions are
satisfied, it is anticipated that the DLC Unification and Redomiciliation will
become effective by May 7, 2026. On completion of the DLC Unification and
Redomiciliation, Scheme Shareholders will receive one Common Share of Carnival
Corporation Ltd. for each Carnival plc Share they hold at the Scheme Record
Time, and Carnival plc will become a wholly owned subsidiary of Carnival
Corporation Ltd.

The Shareholder Document includes full details of the Scheme, together with the
notices of shareholder meetings of Carnival Corporation & plc and the notice of
court meeting of Carnival plc. The Shareholder Document also contains the
expected timetable for the implementation of the DLC Unification and
Redomiciliation, which is also set out in the appendix to this announcement, and
specifies the necessary action to be taken by Carnival Corporation & plc
shareholders.

Shareholders are encouraged to read the Shareholder Document and submit their
votes in advance of the shareholder meetings in accordance with the instructions
included in the Shareholder Document.

Meeting dates

Shareholder meetings will be held sequentially on Friday, April 17, 2026,
starting at 8:30 a.m. (EDT).

All of the meetings will be held at 3655 N.W. 87th Avenue, Miami, Florida 33178,
United States. A live video broadcast of the meetings for shareholders will be
hosted at Carnival House, 100 Harbour Parade, Southampton, SO15 1ST, United
Kingdom. Shareholders planning to attend the live video broadcast in Southampton
must submit a proxy in order to vote as they will not be able to vote in person
from Southampton.

Further information on the meetings related to the DLC Unification and
Redomiciliation is set out in the Shareholder Document.

Capitalised terms used but not otherwise defined in this announcement shall have
the meanings set out in the Shareholder Document.

About Carnival Corporation & plc

Carnival Corporation & plc is the largest global cruise company, and among the
largest leisure travel companies, with a portfolio of world-class cruise lines –
AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line,
P&O Cruises, Princess Cruises, and Seabourn.

Carnival plc’s LEI is 4DR1VPDQMHD3N3QW8W95. The ISIN of Carnival plc’s ordinary
shares of $1.66 is GB0031215220.

Important Information for Investors and Stockholders

In connection with the proposed DLC Unification and Redomiciliation, Carnival
Corporation has filed with the Securities and Exchange Commission («SEC») the
Shareholder Document, which comprises a Registration Statement on Form S-4,
containing a Proxy Statement/Prospectus relating to the proposed transactions
(collectively, the «Proxy Statement»), and Carnival plc has filed the Proxy
Statement with the SEC. Investors and securityholders of Carnival Corporation
and Carnival plc are urged to read the Registration Statement, the Proxy
Statement and any other relevant documents filed with the SEC, because they
contain important information about Carnival Corporation and Carnival plc, the
proposed transactions and related matters. The final Proxy Statement has been
mailed to shareholders of Carnival Corporation and Carnival plc. Investors and
securityholders of Carnival Corporation and Carnival plc may obtain copies of
the Registration Statement and the Proxy Statement, as well as other filings
with the SEC that are incorporated by reference into such documents, containing
information about Carnival Corporation and Carnival plc, without charge, at the
SEC’s website (http://www.sec.gov). The release, publication or distribution of
this document in certain jurisdictions may be restricted by law and therefore
persons in such jurisdictions into which this document is released, published or
distributed should inform themselves about and observe such restrictions. Any
failure to comply with any such restrictions may constitute a violation of the
securities laws of any such jurisdiction.

No Offer or Solicitation

This document does not constitute an offer to sell or the solicitation of an
offer to buy any securities or a solicitation of any vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of securities shall
be made except by means of a prospectus meeting the requirements of Section 10
of the Securities Act of 1933, as amended. This document shall not constitute or
form the basis of, and should not be relied on in connection with, any contract
or investment decision in relation to the securities of Carnival Corporation or
Carnival plc or any other entity.

Participants in the Solicitation

Carnival Corporation, Carnival plc and their respective directors and executive
officers and other members of management and employees may be deemed to be
participants in the solicitation of proxies from Carnival Corporation’s and
Carnival plc’s shareholders in respect of the proposed transactions under the
rules of the SEC. Information regarding Carnival Corporation’s and Carnival
plc’s directors and executive officers is available in Carnival Corporation’s
and Carnival plc’s joint Annual Report on Form 10-K for the year ended November
30, 2025 and Carnival Corporation’s and Carnival plc’s joint proxy statement,
dated February 27, 2026, for its 2026 annual meeting of stockholders, which can
be obtained free of charge through the website maintained by the SEC at
http://www.sec.gov. Any changes in the holdings of Carnival Corporation’s
securities by Carnival Corporation’s directors or executive officers or Carnival
plc’s securities by Carnival plc’s directors or executive officers from the
amounts described in Carnival Corporation’s and Carnival plc’s 2026 joint proxy
statement have been reflected in Statements of Change in Ownership on Form 4
filed with the SEC subsequent to the filing date of Carnival Corporation’s and
Carnival plc’s 2026 joint proxy statement and are available at the SEC’s website
at www.sec.gov. Additional information regarding the interests of such
participants is included in the Registration Statement, the Proxy Statement and
other relevant materials filed with the SEC.

Cautionary Statement Regarding Forward-Looking Information

This document contains statements herein regarding the proposed DLC Unification
and Redomiciliation, future financial and operating results, benefits of the
transactions and any other statements about future expectations that constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements in this
document, other than statements of historical fact, are forward-looking
statements that may be identified by the use of words «anticipate,» «believe,»
«could,» «estimate,» «expect,» «intend,» «may,» «plan,» «potential,» «predict,»
«project,» «should,» «target,» «will,» «would» and, in each case, their negative
or other various or comparable terminology. Such forward-looking statements are
based upon current beliefs, expectations and discussions related to the proposed
DLC Unification and Redomiciliation and are subject to significant risks and
uncertainties that could cause actual results to differ materially from the
results expressed in such statements. There are a number of important factors
that could cause actual results or events to differ materially from those
indicated by such forward looking statements, including: the ability to obtain
governmental and court approvals of the transactions on the proposed terms and
schedule, the failure of Carnival Corporation and Carnival plc shareholders to
approve the transactions, the effects of industry, market, economic, political
or regulatory conditions outside of the parties’ control and the parties’
ability to achieve the benefits from the proposed transactions. Additional
factors that may affect future results are contained in Carnival Corporation’s
and Carnival plc’s filings with the SEC, including Carnival Corporation’s and
Carnival plc’s most recent joint Annual Report on Form 10-K, as it may be
updated from time to time by quarterly reports on Form 10-Q and current reports
on Form 8-K, all of which are available at the SEC’s website http://www.sec.gov.
The information set forth herein speaks only as of the date hereof, and, except
to the extent legally required, any intention or obligation to update any
forward-looking statements as a result of developments occurring after the date
hereof is hereby disclaimed.

MEDIA CONTACT: Jody Venturoni, +1 469 797 6380; INVESTOR RELATIONS CONTACT: Beth
Roberts, +1305406 4832

Appendix

Expected Timetable of Principal Events

The following timetable is based on our current expectations regarding dates for
the implementation of the DLC Unification and Redomiciliation, and is subject to
change. If any of the dates and/or times in this expected timetable change, the
revised dates and/or times will be notified to the Carnival Corporation
Shareholders and the Carnival plc Shareholders by announcement through the LSE
and NYSE and on our website.

Event Time and/or date
Publication of February 27, 2026
the Shareholder
Document
Latest time for 11:59 p.m. (EDT) on April 13, 2026(1)
receipt by the
Depositary of
voting
instructions
for the
Carnival plc
Court Meeting
and Carnival
plc General
Meeting
Latest time for
lodging Forms
of Proxy or
electronic
proxy
instructions
for the:
Carnival plc 1:30 p.m. (BST) on April 15, 2026(2)
Court Meeting
(BLUE form)
Carnival plc 1:40 p.m. (BST) on April 15, 2026(3)
General Meeting
(YELLOW form)
Corporation 11:59 p.m. (EDT) on April 16, 2026
Extraordinary
General Meeting
Voting Record 5:00 p.m. (EDT) on February 17, 2026
Time for
Corporation
Extraordinary
General Meeting
Voting Record 6:30 p.m. (BST) on April 15, 2026(4)
Time for
Carnival plc
Meetings
Carnival plc 1:30 p.m. (BST)/ 8:30 a.m. (EDT) on April 17, 2026
Court Meeting
Carnival plc 1:40 p.m. (BST)/ 8:40 a.m. (EDT) on April 17, 2026(5)
General Meeting
Corporation 1:50 p.m. (BST) / 8:50 a.m. (EDT) on April 17, 2026(6)
Extraordinary
General Meeting
Carnival 2:00 p.m. (BST)/ 9:00 a.m. (EDT) on April 17, 2026(7)
Corporation &
plc Annual
Shareholder
Meetings
Court Hearing May 1, 2026
(to sanction
the Scheme)
Last time and 6:00 p.m. (BST) on May 5, 2026
date of
dealings in
Carnival plc
Shares
Scheme Record 6:00 p.m. (BST) on May 5, 2026
Time
Last time and 6:00 p.m. (BST) on May 5, 2026
date for
registration of
transfers of,
and disablement
in CREST of,
Carnival plc
Shares
Latest time and 4:00 p.m. (EDT) on May 5, 2026
date of
dealings in,
and
registration of
transfers of,
Carnival plc
ADSs on NYSE
Suspension of 7:30 a.m. (BST) on May 6, 2026
listing of, and
dealings in,
Carnival plc
Shares
Effective Date May 7, 2026(8)
of the Scheme
Cancellation of By 8.00 a.m. (BST) on May 7, 2026
listing of
Carnival plc
Shares
Redomiciliation May 7, 2026
becomes
effective
Admission of By 9.30 a.m. (EDT) on May 7, 2026
New CCL Shares
on NYSE
New CCL Shares On or as soon as possible after 9.30a.m. (EDT) on May 7, 2026
issued and butnotlater than 14 days after the SchemeEffective Date
registered
through DRS (in
respect of New
CCL Shares held
by former
Carnival plc
Shareholders in
certificated
form)
CCL DIs On or as soon as possible after 9.30a.m. (EDT) on May 7, 2026
credited to butnotlater than 14 days after the SchemeEffective Date
CREST accounts
(in respect of
New CCL Shares
held by former
Carnival plc
Shareholders in
uncertificated
form) and CSN
accounts
credited
Mandatory May 7, 2026
Exchange of
ADSs for New
CCL Shares
Dispatch of By no later than May 22, 2026
statements of
entitlement
relating to New
CCL Shares held
through the CSN
Dispatch of By no later than May 22, 2026
statements of
entitlement to
New CCL Shares
held through
DRS (in respect
of New CCL
Shares held by
former Carnival
plc
Shareholders in
certificated
form)
Expected date By no later than May 22, 2026
for receipt of
sale proceeds
by any
Restricted
Shareholder
Long Stop Date December 31, 2026(9)

Notes:

(1)Only those holders of Carnival plc ADSs who hold Carnival plc ADSs on
February 17, 2026 will be entitled to instruct the Depositary to exercise the
voting rights in respect of the Carnival plc Shares represented by their
Carnival plc ADSs at the Carnival plc Meetings.

(2)It is requested that BLUE Forms of Proxy or CREST or other electronic proxy
instructions in respect of the Carnival plc Court Meeting be lodged at least 48
hours prior to the time appointed for the Carnival plc Court Meeting (excluding
any part of such 48-hour period falling on a non-working day) or, in the case of
any adjournment, not later than 48 hours before the time fixed for the holding
of the adjourned Carnival plc Court Meeting (excluding any part of such 48-hour
period falling on a non-working day). If the BLUE Forms of Proxy or electronic
proxy instructions are not received by this time, the BLUE Form of Proxy may be
(i) scanned and emailed to Equiniti at the following email address:
[email protected]; or (ii) handed to the Chair of the Carnival plc Court
Meeting or a representative of Carnival plc’s Registrar, Equiniti, at the
Carnival plc Court Meeting venue any time prior to the start of the Carnival plc
Court Meeting (or any adjournment thereof).

(3)YELLOW Forms of Proxy or CREST or other electronic proxy instructions in
respect of the Carnival plc General Meeting must be lodged at least 48 hours
prior to the time appointed for the Carnival plc General Meeting (excluding any
part of such 48-hour period falling on a non-working day) or, in the case of any
adjournment, not later than 48 hours before the time fixed for the holding of
the adjourned Carnival plc General Meeting (excluding any part of such 48-hour
period falling on a non-working day). YELLOW Forms of Proxy that are not so
lodged may NOT be emailed to Equiniti or handed to the Chair of the Carnival plc
General Meeting or a representative of Carnival plc’s Registrar, Equiniti, at
the Carnival plc General Meeting venue before the start of or at the Carnival
plc General Meeting (or any adjournment thereof).

(4)If either the Carnival plc Court Meeting or Carnival plc General Meeting is
adjourned, the voting record time for the relevant adjourned Meeting will be
6:30 p.m. (BST) on the day which is two days (excluding any part of a day that
is a non-working day) before the date set for such adjourned Carnival plc
Meeting and only Scheme Shareholders (in the case of the Carnival plc Court
Meeting) and Carnival plc Shareholders and the holder of the Carnival plc
special voting share (in the case of the Carnival plc General Meeting) on the
register of members at such time shall be entitled to attend and vote at the
relevant Meeting(s).

(5)Or as soon thereafter as the Carnival plc Court Meeting shall have been
concluded or been adjourned.

(6)Or as soon thereafter as the Carnival plc General Meeting shall have been
concluded or been adjourned.

(7)Or as soon thereafter as the Corporation Extraordinary General Meeting shall
have been concluded or been adjourned.

(8)The Scheme of Arrangement will become effective as soon as a copy of the
Court Order has been delivered to the UK Registrar of Companies for
registration. This is expected to occur following the Scheme Record Time and
prior to the Redomiciliation becoming effective. The events which are stated as
occurring on subsequent dates are conditional on the Scheme Effective Date and
operate by reference to that date.

(9)This is the latest date by which the Scheme may become effective unless
Carnival Corporation & plc agree to a later date.

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