Item 8.01 Other Events.

As previously announced, on November 10, 2020, Carnival Corporation (the "Corporation") and Carnival plc entered into an equity distribution agreement (the "Equity Distribution Agreement") with J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC, as original sales agents, in connection with the Corporation's $1.5 billion "at-the-market" equity offering program (the "New ATM Offering"). A copy of the Equity Distribution Agreement was filed as Exhibit 1.1 to the Current Report on Form 8-K filed on November 10, 2020.

On November 12, 2020, the Corporation and Carnival plc entered into Amendment No.1 to the Equity Distribution Agreement (the "Joinder Agreement") by and among Carnival Corporation, Carnival plc and J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., BofA Securities, Inc., Barclays Capital Inc., HSBC Securities (USA) Inc., Intesa Sanpaolo IMI Securities Corp., Mizuho Securities USA LLC, Raymond James & Associates, Inc., Santander Investment Securities Inc., SMBC Nikko Securities America, Inc., Deutsche Bank Securities Inc., DZ Financial Markets LLC, PNC Capital Markets LLC and Siebert Williams Shank & Co., LLC (the "Additional Sales Agents"). Pursuant to the Joinder Agreement, the Additional Sales Agents each became a sales agent under the Equity Distribution Agreement and agreed to undertake all the rights and obligations of a sales agent pursuant to the Equity Distribution Agreement.

PJT Partners is serving as independent financial advisor to the Corporation.

The New ATM Offering was registered under the Securities Act of 1933, as amended, pursuant to a registration statement on Form S-3 (File Nos.

333-322555 and 333-332555-01 ) (the "Registration Statement") filed by the Corporation and Carnival plc with the U.S. Securities and Exchange Commission on March 9, 2018. The terms of the New ATM Offering are described in the prospectus dated March 9, 2018, as supplemented by the prospectus supplement dated November 10, 2020 and the supplement to the prospectus supplement dated November 12, 2020.

A copy of the Joinder Agreement is attached hereto as Exhibit 1.1, and the descriptions of the material terms of the Joinder Agreement in this Item 8.01 are qualified in their entirety by reference to such Exhibit, which is incorporated by reference into this Current Report on Form 8-K and the Registration Statement.

This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock under the Equity Distribution Agreement nor shall there be any sale of such shares of common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Cautionary Note Concerning Factors That May Affect Future Results

Carnival Corporation and Carnival plc and their respective subsidiaries are referred to collectively in this Current Report on Form 8-K, including the Exhibits hereto (collectively, this "document"), as "Carnival Corporation & plc," "our," "us" and "we." Some of the statements, estimates or projections contained in this document are "forward-looking statements" that involve risks, uncertainties and assumptions with respect to us, including some statements concerning the financing transactions described herein, future results, operations, outlooks, plans, goals, reputation, cash flows, liquidity and other events which have not yet occurred. These statements are intended to qualify for the safe harbors from liability provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts are statements that could be deemed forward-looking. These statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and the beliefs and assumptions of our management. We have tried, whenever possible, to identify these statements by using words like "will," "may," "could," "should," "would," "believe," "depends," "expect," "goal," "anticipate," "forecast," "project," "future," "intend," "plan," "estimate," "target," "indicate," "outlook," and similar expressions of future intent or the negative of such terms.

Forward-looking statements include those statements that relate to our outlook and financial position including, but not limited to, statements regarding:





 ·   Pricing               ·   Estimates of ship depreciable lives and residual
                               values
 ·   Booking levels        ·   Goodwill, ship and trademark fair values
 ·   Occupancy             ·   Liquidity and credit ratings
 ·   Interest, tax and     ·   Adjusted earnings per share
     fuel expenses
 ·   Currency exchange     ·   The impact of the COVID-19 coronavirus global
     rates                     pandemic on our financial condition and results of
                               operations
 ·   Net cruise costs,
     excluding fuel per
     available lower
     berth day

Because forward-looking statements involve risks and uncertainties, there are many factors that could cause our actual results, performance or achievements to differ materially from those expressed or implied by our forward-looking statements. This note contains important cautionary statements of the known factors that we consider could materially affect the accuracy of our forward-looking statements and adversely affect our business, results of operations and financial position. Additionally, many of these risks and uncertainties are currently amplified by and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. It is not possible to predict or identify all such risks. There may be additional risks that we consider immaterial or which are unknown. These factors include, but are not limited to, the following:

· COVID-19 has had, and is expected to continue to have, a significant impact on


   our financial condition and operations, which impacts our ability to obtain
   acceptable financing to fund resulting reductions in cash from operations. The
   current, and uncertain future, impact of the COVID-19 outbreak, including its
   effect on the ability or desire of people to travel (including on cruises), is
   expected to continue to impact our results, operations, outlooks, plans, goals,
   reputation, litigation, cash flows, liquidity, and stock price;

· as a result of the COVID-19 outbreak, we may be out of compliance with a

maintenance covenant in certain of our debt facilities, for which we have

waivers for the period through August 31, 2021 with the next testing date of

November 30, 2021;

· world events impacting the ability or desire of people to travel may lead to a

decline in demand for cruises;

· incidents concerning our ships, guests or the cruise vacation industry as well

as adverse weather conditions and other natural disasters may impact the

satisfaction of our guests and crew and lead to reputational damage;

· changes in and non-compliance with laws and regulations under which we operate,

such as those relating to health, environment, safety and security, data

privacy and protection, anti-corruption, economic sanctions, trade protection

and tax may lead to litigation, enforcement actions, fines, penalties and

reputational damage;

· breaches in data security and lapses in data privacy as well as disruptions and


   other damages to our principal offices, information technology operations and
   system networks, including the recent ransomware incident, and failure to keep
   pace with developments in technology may adversely impact our business
   operations, the satisfaction of our guests and crew and lead to reputational
   damage;

· ability to recruit, develop and retain qualified shipboard personnel who live

away from home for extended periods of time may adversely impact our business

operations, guest services and satisfaction;

· increases in fuel prices, changes in the types of fuel consumed and

availability of fuel supply may adversely impact our scheduled itineraries and

costs;

· fluctuations in foreign currency exchange rates may adversely impact our

financial results;

· overcapacity and competition in the cruise and land-based vacation industry may

lead to a decline in our cruise sales, pricing and destination options;

· geographic regions in which we try to expand our business may be slow to

develop or ultimately not develop how we expect; and

· inability to implement our shipbuilding programs and ship repairs, maintenance


   and refurbishments may adversely impact our business operations and the
   satisfaction of our guests.

The ordering of the risk factors set forth above is not intended to reflect our indication of priority or likelihood.

Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under applicable law or any relevant stock exchange rules, we expressly disclaim any obligation to disseminate, after the date of this document, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based.

Item 9.01 Financial Statements and Exhibits.






(d)    Exhibits



Exhibit No.                               Description
  1.1            Amendment No. 1 to the Equity Distribution Agreement, dated as
               of November 12, 2020, among Carnival Corporation, Carnival plc and
               the financial institutions named therein.

104            Exhibit 104 Cover page from this Current Report on Form 8-K,
               formatted in Inline XBRL (included as Exhibit 101).

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