Carnival Corporation & plc Announces Exchange Rate For Quarterly Dividend   

    MIAMI, June 1, 2016 -- On April 14, 2016, Carnival Corporation & plc (NYSE/LSE:
    CCL; NYSE: CUK) announced a quarterly cash dividend of $0.35 (U.S.) per share.
    The dividend is payable on June 17, 2016, to shareholders of record on May 27,
    2016.

    Holders of Carnival Corporation common stock or Carnival plc ADSs will receive
    a dividend payable in U.S. dollars. The dividend for Carnival plc ordinary
    shares will be payable in sterling unless shareholders elected to receive the
    dividend in U.S. dollars by May 27, 2016.

    Dividends payable in sterling will be converted from U.S. dollars at the
    exchange rate quoted by the Bank of England in London at 12 noon on June 1,
    2016 (US$1 = 69.22331 pence). Accordingly, the dividend payable in sterling on
    June 17, 2016, will be 24.22816 pence per share.

    Carnival Corporation & plc is the largest leisure travel company in the world,
    and among the most profitable and financially strong in the industry.  With a
    portfolio of 10 cruise brands in North America, Europe, Australia and Asia,
    comprised of Carnival Cruise Line, Fathom, Holland America Line, Princess
    Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard,  P&O Cruises 
    (Australia) and P&O Cruises (UK).

    Together, these brands operate 101 ships visiting over 700 ports around the
    world and totaling 225,000 lower berths with 15 new ships scheduled to be
    delivered between 2016 and 2020. Carnival Corporation & plc also operates
    Holland America Princess Alaska Tours, the leading tour companies in Alaska and
    the Canadian Yukon. Traded on both the New York and London Stock
    Exchanges, Carnival Corporation & plc is the only group in the world to be
    included in both the S&P500 and the FTSE 100 indices.

    Additional information can be found on http://www.carnival.com/, http://
    www.hollandamerica.com/, http://www.princess.com/, http://www.seabourn.com/, 
    http://www.aida.de/, http://www.costacruise.com/, http://www.cunard.com/, http:
    //www.pocruises.com.au/, http://www.pocruises.com/, and http://www.fathom.org/.

    CONTACT:  MEDIA CONTACT, Carnival Corporation & plc, Roger Frizzell, 1 305 599
    2600, ext. 67862; INVESTOR RELATIONS CONTACT, Carnival Corporation & plc, Beth
    Roberts, 1 305 406 4832