Carnival Corporation & plc Announces the Partial Redemption of Existing $1.4
Billion 7.625% Senior Unsecured Notes due 2026

MIAMI, April 22, 2025 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL;
NYSE: CUK) today announced that Carnival Corporation (the "Company") issued a
notice of redemption for $350.0 million outstanding principal amount of its $1.4
billion 7.625% senior unsecured notes due 2026 (the "2026 Unsecured Notes") to
be redeemed on May 1, 2025 at a redemption price equal to 100.0% of the
principal amount of the 2026 Unsecured Notes to be redeemed, plus accrued and
unpaid interest to, but excluding, the redemption date. This redemption is a
continuation of the Company's strategy to deleverage and reduce interest
expense.

This press release does not constitute a notice of redemption with respect to
the 2026 Unsecured Notes.

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.

Cautionary Note Concerning Forward-Looking Statements

Carnival Corporation and Carnival plc and their respective subsidiaries are
referred to collectively in this press release as "Carnival Corporation & plc,"
"our," "us" and "we." Some of the statements, estimates or projections contained
in this press release 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
and Section 21E of the Securities Exchange Act of 1934, as amended. 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," "aspiration," "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:

·          Interest, tax and fuel expenses
·          Liquidity and credit ratings
·          The transactions described herein

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. These factors include, but are not limited to, the
following:

·          Events and conditions around the world, including geopolitical
uncertainty, war and other military actions, pandemics, inflation, higher fuel
prices, higher interest rates and other general concerns impacting the ability
or desire of people to travel could lead to a decline in demand for cruises as
well as have significant negative impacts on our financial condition and
operations.

·          Incidents concerning our ships, guests or the cruise industry may
negatively 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-money laundering, anti-corruption, economic
sanctions, trade protection, labor and employment, and tax may be costly and
lead to litigation, enforcement actions, fines, penalties and reputational
damage.

·          Factors associated with climate change, including evolving and
increasing regulations, increasing concerns about climate change and the shift
in climate conscious consumerism and stakeholder scrutiny, and increasing
frequency and/or severity of adverse weather conditions could have a material
impact on our business.

·          Inability to meet or achieve our targets, goals, aspirations,
initiatives, and our public statements and disclosures regarding them, including
those related to sustainability matters, may expose us to risks that may
adversely impact our business.

·          Cybersecurity incidents and data privacy breaches, as well as
disruptions and other damages to our principal offices, information technology
operations and system networks and failure to keep pace with developments in
technology have adversely impacted and may in the future materially adversely
impact our business operations, the satisfaction of our guests and crew and may
lead to fines, penalties and reputational damage.

·          The loss of key team members, our inability to recruit or retain
qualified shoreside and shipboard team members and increased labor costs could
have an adverse effect on our business and results of operations.

·          Increases in fuel prices, changes in the types of fuel consumed and
availability of fuel supply may adversely impact our scheduled itineraries and
costs.

·          We rely on suppliers who are integral to the operations of our
businesses. These suppliers and service providers may be unable to deliver on
their commitments, which could negatively impact our business.

·          Fluctuations in foreign currency exchange rates may adversely impact
our financial results.

·          Overcapacity and competition in the cruise and land-based vacation
industry may negatively impact our cruise sales, pricing and destination
options.

·          Inability to implement our shipbuilding programs and ship repairs,
maintenance and refurbishments may adversely impact our business operations and
the satisfaction of our guests.

·          We require a significant amount of cash to service our debt and
sustain our operations. Our ability to generate cash depends on many factors,
including those beyond our control, and we may not be able to generate cash
required to service our debt and sustain our operations.

·          Our substantial debt could adversely affect our financial health and
operating flexibility.

·          The risk factors included in Carnival Corporation's and Carnival
plc's Annual Report on Form 10-K filed with the SEC on January 27, 2025.

The ordering of the risk factors set forth above is not intended to reflect our
indication of priority or likelihood. Additionally, many of these risks and
uncertainties are currently, and in the future may continue to be, amplified by
our substantial debt balance incurred during the pause of our guest cruise
operations. There may be additional risks that we consider immaterial or which
are unknown.

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.

Forward-looking and other statements in this document may also address our
sustainability progress, plans, and goals (including climate change and
environmental-related matters). In addition, historical, current, and forward
-looking sustainability- and climate-related statements may be based on
standards and tools for measuring progress that are still developing, internal
controls and processes that continue to evolve, and assumptions and predictions
that are subject to change in the future and may not be generally shared.

SOURCE Carnival Corporation & plc

Carnival Corporation & plc Media Contact: Jody Venturoni, Carnival Corporation,
jventuroni@carnival.com, (469) 797-6380

Carnival Corporation & plc Investor Relations Contact: Beth Roberts, Carnival
Corporation, eroberts@carnival.com, (305) 406-4832

This information was brought to you by Cision http://news.cision.com