<SEC-DOCUMENT>0001104659-25-063060.txt : 20250626
<SEC-HEADER>0001104659-25-063060.hdr.sgml : 20250626
<ACCEPTANCE-DATETIME>20250626163055
ACCESSION NUMBER:		0001104659-25-063060
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		21
FILED AS OF DATE:		20250626
DATE AS OF CHANGE:		20250626
EFFECTIVENESS DATE:		20250626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARNIVAL CORP
		CENTRAL INDEX KEY:			0000815097
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				591562976
		STATE OF INCORPORATION:			R1
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288351
		FILM NUMBER:		251080841

	BUSINESS ADDRESS:	
		STREET 1:		3655 NW 87TH AVE
		STREET 2:		PO BOX 1347
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178-2428
		BUSINESS PHONE:		3055992600

	MAIL ADDRESS:	
		STREET 1:		3655 NW 87TH AVE
		STREET 2:		PO BOX 1347
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CARNIVAL CRUISE LINES INC
		DATE OF NAME CHANGE:	19920703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARNIVAL PLC
		CENTRAL INDEX KEY:			0001125259
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288351-01
		FILM NUMBER:		251080842

	BUSINESS ADDRESS:	
		STREET 1:		100 HARBOUR PARADE
		STREET 2:		CARNIVAL HOUSE
		CITY:			SOUTHAMPTON SO15 1ST
		STATE:			X0
		ZIP:			00000
		BUSINESS PHONE:		011 44 23 8065 5000

	MAIL ADDRESS:	
		STREET 1:		100 HARBOUR PARADE
		STREET 2:		CARNIVAL HOUSE
		CITY:			SOUTHAMPTON SO15 1ST
		STATE:			X0
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	P&O PRINCESS CRUISES PLC
		DATE OF NAME CHANGE:	20000929
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm2518990d1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange Commission
on June&nbsp;26, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Registration No.&nbsp;333-</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT <BR>
UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;S-8</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CARNIVAL CORPORATION</B></P></TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 30%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;S-8</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CARNIVAL PLC</B></P></TD></TR>
</TABLE>

<P STYLE="font-size: 1pt; margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>(Exact name of registrant as specified in its charter)</B></P>

<P STYLE="margin: 0; font-size: 1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Republic of Panama</B></FONT></TD>
    <TD STYLE="width: 40%; text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>England and Wales</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 1pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>(State or other jurisdiction of incorporation or organization)</B></P>

<P STYLE="margin: 0; font-size: 1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>59-1562976</B></FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt; width: 40%">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>98-0357772</B></FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0; font-size: 1pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>(I.R.S. Employer Identification No.)</B></P>

<P STYLE="margin: 0; font-size: 1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%">
    <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Carnival
Place<BR>
3655 N.W. 87th Avenue<BR>
Miami, Florida 33178-2428<BR>
(305) 599-2600</B></P></TD>
    <TD STYLE="font-size: 10pt; width: 40%">&nbsp;</TD>
    <TD STYLE="width: 30%">
    <P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Carnival
House <BR>
100 Harbour Parade<BR>
Southampton, SO15 1ST <BR>
United Kingdom <BR>
011 44 23 8065 5000</B></P></TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address, including zip code, and telephone
number, including area code, of<BR>
 registrant&rsquo;s principal executive offices)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Carnival Corporation 1993 Employee Stock Purchase
Plan <BR>
(Full title of the plan)</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Enrique Miguez <BR>
General Counsel</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Carnival Corporation&nbsp;&amp;
plc <BR>
3655 N.W. 87th Avenue <BR>
Miami, Florida 33178-2428</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(305) 599-2600</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Name, address, including zip code, and telephone
number, including area code, of agent for service)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Copies to:</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Sean C. Feller,&nbsp;Esq.</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Gibson, Dunn&nbsp;&amp;
Crutcher LLP <BR>
2000 Avenue of the Stars Suite&nbsp;1200N</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Los Angeles, CA 90067-4700</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(310) 552-8500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of
 &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo;, &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth
company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 52%; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD STYLE="width: 20%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Do
    not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to General Instruction E of Form&nbsp;S-8, the registrants,
Carnival Corporation and Carnival plc, are filing this registration statement (&ldquo;<B>Registration Statement</B>&rdquo;) with respect
to the issuance of an additional 4,000,000 shares of Carnival Corporation common stock, par value $0.01 per share (the &ldquo;<B>Common
Stock</B>&rdquo;) in the Carnival Corporation 1993 Employee Stock Purchase Plan, as amended (the &ldquo;<B>Plan</B>&rdquo;), and 4,000,000
trust shares (the &ldquo;<B>Trust Shares</B>&rdquo;) of beneficial interest in the P&amp;O Princess Special Voting Trust (the &ldquo;<B>Trust</B>&rdquo;),
which are paired with the shares of Common Stock on a one-for-one basis. Each of the Trust Shares represents an undivided beneficial
interest in the Carnival plc Special Voting Share (the &ldquo;<B>Special Voting Share</B>&rdquo;), &pound;1.00 par value, which is held
by the Trust. The arrangements with respect to the Special Voting Share and the Trust Shares were entered into in connection with the
dual listed company transaction between Carnival Corporation and Carnival plc, which was completed on April&nbsp;17, 2003. The shares
of Common Stock registered hereby, together with the paired Trust Shares, are to be issued under the Plan. The contents of the Registration
Statement on Form&nbsp;S-8 (File no. 33-51195) filed with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;)
on November&nbsp;24, 1993 and the Registration Statement on Form&nbsp;S-8 (<U><A HREF="https://www.sec.gov/Archives/edgar/data/1125259/000095014203000751/forms8_041703.txt" STYLE="-sec-extract: exhibit">File no. 333-104609</A></U>) filed with the Commission on April&nbsp;17,
2003, are hereby incorporated by reference in this Registration Statement pursuant to General Instruction E of Form&nbsp;S-8, except
for Items 3, 6, 8 and 9 of Part&nbsp;II which are being updated by this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3</B>. <I>Incorporation of Documents by Reference</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following documents filed with the Commission by us are incorporated
by reference in this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD>Our latest Annual Report on Form&nbsp;10-K filed pursuant to Section&nbsp;13
                                            or 15(d)&nbsp;of the Securities Exchange Act of 1934 (the &ldquo;<B>Exchange Act</B>&rdquo;)
                                            on <U><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000081509725000007/ccl-20241130.htm" STYLE="-sec-extract: exhibit">January&nbsp;27, 2025</A></U>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>Our Quarterly Reports on Form&nbsp;10-Q filed on <U><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000081509725000025/ccl-20250228.htm" STYLE="-sec-extract: exhibit">March&nbsp;25,&nbsp;2025</A></U> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000081509725000052/ccl-20250531.htm" STYLE="-sec-extract: exhibit">June&nbsp;26, 2025</A>;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD>Our Current Reports on Form&nbsp;8-K filed <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000110465925002319/tm252805d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;10,
2025</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014225000085/eh250577194_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;13,
2025</A> (Items 1.01 and 2.03 only), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014225000285/eh250587971_8k.htm" STYLE="-sec-extract: exhibit"><U>February&nbsp;7,
2025</U></A> (Items 1.01 and 2.03 only), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014225000567/eh250597311_8k.htm" STYLE="-sec-extract: exhibit">February&nbsp;28,
2025</A> (Items 1.01 and 2.03 only), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000081509725000029/ccl-20250416.htm" STYLE="-sec-extract: exhibit">April&nbsp;18,
2025</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014225001443/eh250630725_8k.htm" STYLE="-sec-extract: exhibit">May&nbsp;21,
2025</A> (Items 1.01 and 2.03 only), and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014225001611/eh250641949_8k.htm" STYLE="-sec-extract: exhibit">June&nbsp;13,
2025</A> (Items 1.01, 1.02 and 2.03 only); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(d)</TD><TD>The description of the Common Stock, Trust Shares and Special Voting
                                            Share contained in the Description of Equity Securities Registered Under Section&nbsp;12
                                            of the Exchange Act in <A HREF="https://www.sec.gov/Archives/edgar/data/815097/000081509720000003/exhibit412-description.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.12</A>
                                            of our Annual Report on Form&nbsp;10-K for the fiscal year ended November&nbsp;30, 2019,
                                            filed on January&nbsp;28, 2020, including any amendment or report filed for the purpose of
                                            updating such description.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, all documents subsequently filed by us pursuant to Section&nbsp;13(a),
13(c), 14 and 15(d)&nbsp;of the Exchange Act, excluding any information furnished under Item 2.02 or Item 7.01 of any Current Report on
Form&nbsp;8-K and corresponding information furnished under Item 9.01 or included as an exhibit, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which deregisters all such securities then remaining unsold, shall
be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in a document incorporated by reference herein shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is
deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall
not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6</B>. <I>Indemnification of Directors and Officers.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival Corporation&rsquo;s Third Amended and Restated Articles of
Incorporation and By-Laws provide, subject to the requirements set forth therein, that with respect to any person who was or is threatened
to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative,
Carnival Corporation shall indemnify such person by reason of the fact that he is or was one of Carnival Corporation&rsquo;s or Carnival
plc&rsquo;s directors or officers, and may indemnify such person by reason of the fact that he is or was one of Carnival Corporation&rsquo;s
or Carnival plc&rsquo;s employees or agents or is or was serving at Carnival Corporation&rsquo;s or Carnival plc&rsquo;s request as a
director, officer, employee or agent in another corporation, partnership, joint venture, trust or other enterprise, in either case against
expenses (including attorney&rsquo;s fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in
connection with such action, suit or proceeding if he acted in good faith and in a</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">manner he reasonably believed to be in or not opposed to Carnival Corporation&rsquo;s
or Carnival plc&rsquo;s best interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe his
conduct was unlawful. Carnival Corporation has entered into agreements with each of its directors providing essentially the same indemnities
as are described in Carnival Corporation&rsquo;s Third Amended and Restated Articles of Incorporation in the event that such director
or such director&rsquo;s heirs, executors or administrators are made a party to threatened, pending or completed actions, suits or proceedings
as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Article&nbsp;288 of Carnival plc&rsquo;s Articles of Association provides:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;Subject to and in so far as permitted by the Companies Acts,
the Company may: (a)&nbsp;indemnify any director, office or employee of the Company or of any associated company against any liability
pursuant to any qualifying third party indemnity provision or any qualifying pension scheme indemnity provision, or on any other basis
as is then lawful, in each case on such terms as the board may decide; and (b)&nbsp;purchase and maintain for any director, officer or
employee of the Company or of any associated company insurance against any liability. In this article &ldquo;qualifying third party indemnity
provision&rdquo;, &ldquo;qualifying pension scheme provision&rdquo; and &ldquo;associated company&rdquo; have meanings that they have
in Part&nbsp;10 of the 2006 Act.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under the UK Companies Act 2006, a UK company is not permitted to indemnify
a director or officer of the company (or any person employed by the company as an auditor) against any liability in respect of any fine
imposed in criminal proceedings, a sum payable to a regulatory authority by way of a penalty in respect of non-compliance with any requirement
of a regulatory nature, negligence, default, breach of duty or breach of trust of which he may be guilty in relation to the company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">UK companies, however, may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">purchase and maintain liability insurance for officers and directors; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">indemnify officers and directors against any liability incurred by him either
in defending any proceedings in which judgment is given in his favor or he is acquitted, or in connection with the court granting him
relief from liability in the case of honest and reasonable conduct.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival plc has entered into agreements with each of its directors
providing essentially the same indemnities as are described in Carnival plc&rsquo;s articles of association as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8</B>. <I>Exhibits</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>EXHIBIT</U></FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>DESCRIPTION</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex31.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex31.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Third Amended and Restated Articles of Incorporation of Carnival Corporation (incorporated by reference to</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Exhibit&nbsp;3.1 to the Current Report on Form&nbsp;8-K of Carnival Corporation and Carnival plc, filed on April&nbsp;17, 2003).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000119312509082568/dex31.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000119312509082568/dex31.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Third Amended and Restated By-Laws of Carnival Corporation (incorporated by reference to Exhibit&nbsp;3.1 to the</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">joint Current Report on Form&nbsp;8-K of Carnival Corporation and Carnival plc, filed on April&nbsp;20, 2009).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000119312509082568/dex33.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000119312509082568/dex33.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Articles of Association of Carnival plc (incorporated by reference to Exhibit&nbsp;3.3 to the joint Current Report on</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Form&nbsp;8-K of Carnival Corporation and Carnival plc, filed on April&nbsp;20, 2009).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex42.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex42.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Voting Trust Deed, dated as of April&nbsp;17, 2003, between Carnival Corporation and The Law Debenture Trust</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Corporation (Cayman) Limited, as trustee (incorporated by reference to Exhibit&nbsp;4.2 to the joint Current Report on</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Form&nbsp;8-K of Carnival Corporation and Carnival plc, filed on April&nbsp;17, 2003).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex41.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex41.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Pairing Agreement, dated as of April&nbsp;17, 2003, between Carnival Corporation, The Law Debenture Trust</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Corporation (Cayman) Limited, as trustee, and Computershare Investors Services (formerly SunTrust Bank), as</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">transfer agent (incorporated by reference to Exhibit&nbsp;4.1 to the joint Current Report on Form&nbsp;8-K of Carnival</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Corporation and Carnival plc, filed on April&nbsp;17, 2003).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex43.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000102140803006279/dex43.txt" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">SVE Special Voting Deed, dated as of April&nbsp;17, 2003 between Carnival Corporation, DLS SVC Limited, P&amp;O</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Princess Cruises plc, The Law Debenture Trust Corporation (Cayman) Limited, as trustee, and The Law Debenture</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Trust Corporation, P.L.C. (incorporated by reference to Exhibit&nbsp;4.3 to the joint Current Report on Form&nbsp;8-K of</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Carnival Corporation and Carnival plc, filed on April&nbsp;17, 2003).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000104746903021743/a2113194zex-4_16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7</FONT></A></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/815097/000104746903021743/a2113194zex-4_16.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">Specimen Common Stock Certificate (incorporated by reference to Exhibit&nbsp;4.16 to the joint Registration Statement</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">on Form&nbsp;S-3/ F-3 of Carnival Corporation, Carnival plc and P&amp;O Princess Cruises International Limited, filed on</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: blue">June&nbsp;19, 2003).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Tapia Linares y Alfaro.*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Maples and Calder (Cayman) LLP.*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Ashurst.*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Tapia Linares y Alfaro (included with Exhibit&nbsp;5.1).*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Maples and Calder </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Cayman) LLP (included with Exhibit&nbsp;5.2).*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex5-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ashurst (included with Exhibit&nbsp;5.3).*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex23-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.4</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex23-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Deloitte&nbsp;&amp; Touche LLP,&nbsp;Independent Registered Certified Public Accounting Firm.*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex23-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.5</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex23-5.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of PricewaterhouseCoopers LLP,&nbsp;Independent Registered Certified Public Accounting Firm.*</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1</FONT></A></TD>
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney of certain officers and directors of Carnival Corporation (included on the signature pages&nbsp;hereof).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.2</FONT></A></TD>
    <TD><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney of certain officers and directors of Carnival plc (included on the signature pages&nbsp;hereof).</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carnival Corporation 1993 Employee Stock Purchase Plan, as amended and restated.* </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP></SUP></FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><A HREF="tm2518990d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107.1</FONT></A></TD>
    <TD><A HREF="tm2518990d1_ex-filingfees.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table.*</FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9</B>. <I>Undertakings</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.4in">(a)</TD><TD>The undersigned registrant hereby undertakes:</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
                                                                                                                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To file during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</TD></TR>
                                                                                                                                                                                                                                                       </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD>to include any prospectus required by Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD>to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth
in the registration statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if, in the
aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the
 &ldquo;<B>Calculation of Registration Fee</B>&rdquo; table in the effective registration statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD>to include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>provided, however</I>, that the undertakings set forth in paragraphs
(a)(1)(i)&nbsp;and (a)(1)(ii)&nbsp;above do not apply if the information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the Commission by us pursuant to Section&nbsp;13 or Section&nbsp;15(d)&nbsp;of
the Exchange Act that are incorporated by reference in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(2)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;That,
for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">(3)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;To
remove from registration by means of a post-effective amendment any of the securities being registered hereby which remain unsold at the
termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
registrant&rsquo;s annual report pursuant to Section&nbsp;13(a)&nbsp;or Section&nbsp;15(d)&nbsp;of the Exchange Act (and, where applicable,
each filing of an employee benefit plan&rsquo;s annual report pursuant to Section&nbsp;15(d)&nbsp;of the Exchange Act) that is incorporated
by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein,
and the offering of such securities at that time shall be deemed to be the initial bona fide offering hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Commission
such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director,
officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_001"></A>SIGNATURES OF CARNIVAL CORPORATION AND CARNIVAL
PLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933 the registrants
certify that they have reasonable grounds to believe that they meet all of the requirements for filing on Form&nbsp;S-8 and have duly
caused this Registration Statement to be signed on their behalf by the undersigned, thereunto duly authorized, in the City of Doral, State
of Florida, on June&nbsp;26, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CARNIVAL CORPORATION</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CARNIVAL PLC</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">/s/ Enrique Miguez</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">/s/ Enrique Miguez</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 3%"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 38%">Enrique Miguez</TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 3%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top; width: 38%">Enrique Miguez</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">General Counsel</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">General Counsel</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each of the undersigned directors and officers of Carnival Corporation
and Carnival plc hereby severally constitutes and appoints Enrique Miguez, as attorney-in-fact for the undersigned, in any and all capacities,
with full power of substitution, to sign any amendments to this Registration Statement (including post-effective amendments), and to file
the same with exhibits thereto and other documents in connection therewith with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and
about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Act of 1933, this Registration
Statement has been signed by the following persons in the capacities indicated effective June&nbsp;26, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%"><B>CARNIVAL CORPORATION</B></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 46%"><B>CARNIVAL PLC</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Josh Weinstein</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Josh Weinstein</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Josh Weinstein</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Josh Weinstein</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Chief Executive Officer, Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Chief Executive Officer, Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ David Bernstein</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ David Bernstein</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>David Bernstein</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>David Bernstein</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Chief Financial Officer and Chief Accounting Officer</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Chief Financial Officer and Chief Accounting Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Micky Arison</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Micky Arison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Micky Arison</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Micky Arison</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Chair of the Board of Directors</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Chair of the Board of Directors</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Sir Jonathon Band</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Sir Jonathon Band</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Sir Jonathon Band</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Sir Jonathon Band</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jason Glen Cahilly</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jason Glen Cahilly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Jason Glen Cahilly</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Jason Glen Cahilly</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Nelda J. Connors</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Nelda J. Connors</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Nelda J. Connors</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Nelda J. Connors</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Helen Deeble</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Helen Deeble</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Helen Deeble</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Helen Deeble</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jeffrey J. Gearhart</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jeffrey J. Gearhart</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Jeffrey J. Gearhart</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Jeffrey J. Gearhart</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Katie Lahey</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Katie Lahey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Katie Lahey</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Katie Lahey</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Stuart Subotnick</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Stuart Subotnick</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Stuart Subotnick</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Stuart Subotnick</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Laura Weil</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Laura Weil</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Laura Weil</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Laura Weil</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Randall J. Weisenburger</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Randall J. Weisenburger</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Randall J. Weisenburger</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Randall J. Weisenburger</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Director</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Director</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2518990d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TAPIA,
LINARES Y ALFARO&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ABOGADOS-ATTORNEYS AT LAW&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="vertical-align: middle; width: 80%; text-align: left">June 26, 2025</TD><TD STYLE="text-align: left; width: 20%">&nbsp;<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">F. S. TAPIA C. &dagger;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0">JULIO E. LINARES &dagger;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">ELOY ALFARO</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0">MARIO E. CORREA E.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.2pt">OCTAVIO DEL MORAL</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.2pt">JULIO E. LINARES F.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.2pt">ADOLFO E.
LINARES F.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.2pt">FERNANDO A. LINARES F.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.2pt">ANABEL GA MALLO Q.</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.05pt">CARMEN G. CAO</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.05pt">FRANCESCA
VASQUEZ</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.05pt">RONIE
MORENO</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: -0.05pt">ANGELA GUAJARDO</P>

</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Carnival Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3655
N.W. 87<SUP>th</SUP> Avenue</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Miami, Florida 33178-2428</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">U.S.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Carnival plc&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">100 Harbour Parade</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Southampton, SO15
1ST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Re:</FONT>&#9;Registration Statement
on Form S-8</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Dear Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 10pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt">In
connection with the joint Registration Statement on Form S-8 (the <B>&quot;Registration Statement&quot;),</B></FONT> filed by Carnival
Corporation (the <FONT STYLE="font-size: 10pt"><B>&quot;Company&quot;)</B></FONT> and Carnival plc, with the Securities and Exchange Commission
pursuant to the Securities Act of 1933, as amended (the <FONT STYLE="font-size: 10pt"><B>&quot;Act&quot;),</B></FONT> and the rules and
regulations promulgated thereunder, which relates to the issuance of an additional 4,000,000 shares of the Company common stock, par value
$0.01 per share (the <FONT STYLE="font-size: 10pt"><B>&quot;Common Stock&quot;), </B>and 4,000,000 trust shares of beneficial interest
in the P&amp;O Princess plc Special Voting Trust (the <B>&quot;Trust Shares&quot;),</B> which are paired with the shares of Common Stock
on a one-for-one basis, to be issued pursuant to the Carnival Corporation 1993 Employee Stock Purchase Plan (the <B>&quot;Plan&quot;),
</B>we have been requested to render our opinion as to the legality of the Common Stock and Trust Shares being registered thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 10pt; margin-bottom: 0pt; text-align: justify">In
this connection, we have examined (i) originals, photocopies or conformed copies of the Plan, (ii) the Third Amended and Restated Articles
of Incorporation and the Third Amended and Restated By-Laws of the Company, and (iii) records of certain of the Company's corporate proceedings.
In addition, we have made such other examinations of law and fact as we have considered necessary in order to form a basis of the opinions
hereinafter expressed. In connection with such investigation, we have assumed the genuineness of all signatures, the authenticity of
all documents submitted to us as originals, and the confonnity to originals of all documents submitted to us as photocopies or conformed
copies. We have relied as to matters of fact upon declarations and certificates of officers of the Company.&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Edificio Capital Plaza, Piso 15</FONT></TD>
    <TD STYLE="width: 39%; padding-left: 38pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Telefono +507 306-5000</FONT></TD>
    <TD STYLE="width: 27%; padding-left: 57pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BVI</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Paseo Roberto Motta, Costa de! Este</FONT></TD>
    <TD STYLE="padding-left: 39pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fax +507 306-5005</FONT></TD>
    <TD STYLE="padding-left: 57pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P.O. Box 3161</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Apartado Postal 0816-02984</FONT></TD>
    <TD STYLE="padding-left: 39pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Email: talial@talial.com</FONT></TD>
    <TD STYLE="padding-left: 58pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Road Town, Tortola</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Panama, Rep. de Panama</FONT></TD>
    <TD STYLE="padding-left: 39pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Web: www.talial.com</FONT></TD>
    <TD STYLE="padding-left: 58pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">British Virgin Islands</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><B>TAPIA, LINARES Y ALFARO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt">Carnival Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt">Carnival plc</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt">June 26, 2025</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Terms defined in the Plan and the Registration Statement shall have
the same meaning herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt">Based on the foregoing, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.6pt"></TD><TD STYLE="width: 17.4pt">1.</TD><TD STYLE="text-align: justify; padding-right: 2pt">The Company is duly incorporated and validly existing as a corporation in good standing
under the laws of the Republic of Panama.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.2pt"></TD><TD STYLE="width: 17.8pt">2.</TD><TD STYLE="text-align: justify; padding-right: 2pt">The Common Stock and the Trust Shares have been duly and legally authorized for issuance,
and such Common Stock and Trust Shares, when issued and delivered by the Company on the terms and conditions
described in the Plan and paid for in accordance with the terms and provisions of the Plan, will be validly issued, fully paid and non-assessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 19.2pt"></TD><TD STYLE="width: 17.8pt">3.</TD><TD STYLE="text-align: justify; padding-right: 2pt"> The Common
Stock, when issued and delivered by the Company on the terms and conditions described in the Plan and paid for in accordance with the
terms and provisions of the Plan, will be paired with the Trust Shares on a one-for-one basis, pursuant to the Pairing Agreement dated
as of April 17, 2003, between the Company, The Law Debenture Trust Corporation (Cayman) Limited, as trustee, and SunTrust Bank, as transfer
agent.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-indent: -0.2pt">We are members of the Bar of the Republic
of Panama. We express no opinion as to matters of law other than the laws of the Republic of Panama.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2pt 0pt 1pt; text-align: justify; text-indent: 0.25pt">We hereby consent
to all references to our firm in the Registration Statement and in the prospectus therein, and to the filing by the Company of this opinion
as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we come within the category of persons
whose consent is required by the Act or the rules and regulations promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt">Yours truly,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">TAPIA,
LINARES Y ALFARO</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%; text-align: left">/s/ Mario E. Correa</TD><TD STYLE="text-align: justify; width: 50%"><FONT STYLE="font-style: normal; font-weight: normal">&nbsp;</FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">Mario E. Correa</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>3
<FILENAME>tm2518990d1_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 5.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="tm2518990d1_ex5-2img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">The Addressees named in the First Schedule</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">26 June 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Sirs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>P&amp;O Princess Special Voting Trust</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as Cayman Islands counsel to The Law Debenture Trust
Corporation (Cayman) Limited (the &quot;<B>Trustee</B>&quot;) in connection with:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">1</TD><TD STYLE="text-align: justify">the voting trust deed (the &quot;<B>Trust Deed</B>&quot;) dated 17 April 2003 by and between Carnival
Corporation, a Panamanian corporation, (&quot;<B>Carnival Corporation</B>&quot;) and the Trustee, pursuant to which the Depositor and
the Trustee established the P&amp;O Princess Special Voting Trust, a Cayman Islands law trust (the &quot;<B>Trust</B>&quot;) and pursuant
to which shares of beneficial interest in the Trust have been issued and the initial trust property of which was the P&amp;O Princess
Special Voting Share; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2</TD><TD STYLE="text-align: justify">the registration statement on Form S-8, including all amendments or supplements thereto (&quot;<B>Form
S-8</B>&quot;), filed with the Securities and Exchange Commission on 26 June 2025, by Carnival Corporation and Carnival plc, a public
limited company incorporated under the laws of England and Wales (&quot;<B>Carnival plc</B>&quot;), under the Securities Act of 1933,
as amended (the &quot;<B>Registration Statement</B>&quot;) relating to, among other things, the registration of 4,000,000 trust shares
of beneficial interest in the Trust, which Trust Shares are paired with the shares of Carnival Corporation Common Stock on a one-for-one
basis and represent a beneficial interest in a special voting share of Carnival plc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are furnishing this opinion as Exhibit 5.2 to the Registration Statement.
Other terms used but not defined in this opinion are used as defined in the Trust Deed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.2pt"></TD>
  <TD STYLE="width: 35.8pt"><FONT STYLE="font-size: 10pt"><B>1</B></FONT></TD>
  <TD><FONT STYLE="font-size: 10pt"><B>Documents Reviewed</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have reviewed originals, copies, drafts or conformed copies of the
following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">1.1</TD><TD STYLE="text-align: justify">The Trust Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">1.2</TD><TD STYLE="text-align: justify">A letter from the Trustee to Carnival Corporation dated 17 April 2003 (the &quot;<B>Representation Letter</B>&quot;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">1.3</TD><TD STYLE="text-align: justify">The Form S-8.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2518990d1_ex5-2img002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>2</B></FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><B>Assumptions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following opinions are given only as to, and
based on, circumstances and matters of fact existing and known to us on the date of this opinion letter. These opinions only relate to
the laws of the Cayman Islands which are in force on the date of this opinion letter. We have also relied upon the following assumptions,
which we have not independently verified:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.1</TD><TD STYLE="text-align: justify">The trusts powers and provisions of the Trust have been validly subsisting without interruption since
17 April 2003 and are validly subsisting at the date of this opinion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.2</TD><TD STYLE="text-align: justify">All the present terms of the Trust are contained within the Trust Deed and no other documents or events
are relevant to establishing the present terms of the Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.3</TD><TD STYLE="text-align: justify">The Trustee has strictly complied at all times with the terms of the Trust and the trust laws of the Cayman
Islands and P&amp;O Princess Special Voting Share remains the trust property subject to the terms of the Trust.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.4</TD><TD STYLE="text-align: justify">The Trustee has now and has always had the power and authority to perform all its trusts and powers as
trustee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.5</TD><TD STYLE="text-align: justify">The Trustee has exercised and will exercise all powers conferred on it by the Trust Deed or by law in
good faith and for the purposes for which they were conferred and for no collateral purpose.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.6</TD><TD STYLE="text-align: justify">The representations of the Trustee in the Representation Letter are as true and correct today as they
were at the date of the Representation Letter and that the Trustee has performed and continues to perform the undertakings of the Trustee
in the Representation Letter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.7</TD><TD STYLE="text-align: justify">Copies of documents, conformed copies or drafts of documents provided to us are true and complete copies
of, or in the final forms of, the originals, and translations of documents provided to us are complete and accurate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.8</TD><TD STYLE="text-align: justify">All signatures, initials and seals are genuine.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">2.9</TD><TD STYLE="text-align: justify">There is nothing under any law (other than Cayman Islands law) that would or might affect the opinions
in this letter. Specifically, we have made no independent investigation of the laws of England and Wales, the Republic of Panama or the
States of New York or Florida.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>3</B></FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><B>Opinions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on the foregoing and subject to the qualifications set out below
and having regard to such legal considerations as we consider relevant, we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">3.1</TD><TD STYLE="text-align: justify">The Trust is duly established and constitutes a validly existing trust under the laws of the Cayman Islands.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">3.2</TD><TD STYLE="text-align: justify">The P&amp;O Trust Shares when issued as contemplated by the Registration Statement (the <B>&quot;P&amp;O
Trust Shares&quot;</B>), have been authorised for issuance in accordance with the provisions of the Trust Deed and, on the relevant entries
being made in the Share Register, the P&amp;O Trust Shares will constitute validly issued, fully paid and non-assessable Trust Shares
and, in respect of such P&amp;O Trust Shares, the registered holders will have the rights attributable thereto as set forth in the Trust
Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>4</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Qualification</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The opinions expressed above are subject to the following qualifications:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">4.1</TD><TD STYLE="text-align: justify">Nominal Cayman Islands stamp duty of CI$40 (US$48) may be payable if the original Trust Deed is brought
to or executed in the Cayman Islands.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">4.2</TD><TD STYLE="text-align: justify">The obligations of the Trustee may be subject to restrictions pursuant to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.2pt"></TD><TD STYLE="width: 35.8pt">(a)</TD><TD STYLE="text-align: justify">United Nations and United Kingdom sanctions extended to the Cayman Islands by Orders in Council; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36.2pt"></TD><TD STYLE="width: 35.8pt">(b)</TD><TD STYLE="text-align: justify">sanctions imposed by Cayman Islands authorities under Cayman Islands legislation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2pt"></TD><TD STYLE="width: 35.8pt">4.3</TD><TD STYLE="text-align: justify">All the beneficiaries under the Trust may together terminate the Trust notwithstanding anything to the
contrary in the Trust Deed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We express no view as to whether the terms of
the Trust Deed represent the intentions of the parties and make no comment with regard to the representations which may be made by Carnival
Corporation or the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is given today and may not be relied
on at any later date. This opinion is given for your benefit for the purposes of the Registration Statement to be filed with the Securities
and Exchange Commission (the &quot;<B>Commission</B>&quot;) under the United States Securities Act of 1933 as amended (the <B>&quot;Securities
Act&quot;</B>). It may be relied on by the addressees only. It may not be relied on by any other person except with our prior written
consent. We hereby consent to filing of this opinion as an exhibit to the Registration Statement. In giving this consent, we do not admit
that we are in the category of persons whose consent is required under the Securities Act, or the Rules and Regulations of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours faithfully&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; width: 50%; text-align: left">/s/ Maples and Calder (Cayman) LLP</TD><TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">Maples and Calder (Cayman) LLP</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Schedule</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival plc&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 Harbour Parade&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 278pt 0pt 0">Southampton SO15 1ST, United Kingdom</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 278pt 0pt 0">011 44 23 8065 5000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival Corporation&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3655 NW 87th Avenue&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Miami, FL 33178-2428&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States of America</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-5.3
<SEQUENCE>4
<FILENAME>tm2518990d1_ex5-3.htm
<DESCRIPTION>EXHIBIT 5.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0"><B>Exhibit 5.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2518990d1_ex5-3img001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 33%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ashurst LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">London Fruit &amp; Wool</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exchange&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1 Duval Square&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">London E1 6PW</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel +44 20 7638 1111</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">www.ashurst.com</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0">Our ref: JZF\538C.1000-199-852</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0">Direct line: &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29pt 0pt 0">+44 20 7859 3156</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 29pt 0pt 0">Email:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">james.fletcher@ashurst.com&nbsp;</P>
</TD><TD STYLE="width: 34%; text-align: left"><P STYLE="margin-top: 0; margin-bottom: 0">26 June 2025</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>
                                              <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                              <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119pt 0pt 0">Carnival plc</P>
                                              <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119pt 0pt 0">Carnival House</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 97pt 0pt 0">100 Harbour Parade Southampton</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 97pt 0pt 0">United Kingdom</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 97pt 0pt 0">SO15 1ST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Carnival Place</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3655 N.W. 87th Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Miami, Florida 33178-2428</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S.A.</P>
</TD><TD STYLE="text-align: justify; width: 33%">&nbsp;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>Registration Statement on Form S-8</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in"><FONT>1.</FONT></TD><TD STYLE="text-align: justify"><B>Introduction </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.1</TD><TD STYLE="text-align: left">In connection with the joint registration statement
                                            filed on 26 June 2025 under the Securities Act 2933, as amended (the <B>Act</B>) on Form
                                            S-8 (the <B>Registration Statement</B>) of Carnival Corporation, a corporation organised
                                            under the laws of the Republic of Panama (<B>Carnival Corporation</B>) and Carnival plc,
                                            a public limited company incorporated under the laws of England and Wales (the <B>Company</B>),
                                            we have been requested to render our opinion on certain matters in connection with the Registration
                                            Statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.2</TD><TD STYLE="text-align: left">The Registration Statement relates to the registration
                                            under the Act of the issuance of an additional 4,000,000 shares of Carnival Corporation common
                                            stock, par value US$0.01 per share (the <B>Common Stock</B>) in the Carnival Corporation
                                            1993 Employee Stock Purchase Plan, as amended (the <B>Plan</B>) and 4,000,000 trust shares
                                            (the <B>Trust Shares</B>) of beneficial interest in the P&amp;O Princess Special Voting Trust,
                                            a trust established under the laws of the Cayman Islands, that are paired with the shares
                                            of Common Stock on a one-for-one basis and represent a beneficial interest in a special voting
                                            share of &pound;1.00 in the capital of the Company (the <B>Special Voting Share</B>) issued
                                            to Carnival Corporation (such share having been transferred to the trustee of the P&amp;O
                                            Princess Special Voting Trust).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3pt 0pt 39.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3pt 0pt 39.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0.5in">Ashurst LLP is a limited liability partnership registered
in England and Wales under number OC330252 and is part of the Ashurst Group. It is a law firm authorised and regulated by the Solicitors
Regulation Authority of England and Wales under number 468653. A list of members of Ashurst LLP and their professional qualifications
is open to inspection at its registered office London Fruit &amp; Wool Exchange, 1 Duval Square, London E1 6PW. The term &quot;partner&quot;
in relation to Ashurst LLP is used to refer to a member of Ashurst LLP or to an employee or consultant with equivalent standing and qualifications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.3</TD><TD STYLE="padding-right: 26pt">We are acting as legal advisers as to English law to the Company for the purposes of giving this opinion.
In so acting, we have examined the following documents:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT>(a)</FONT></TD><TD STYLE="text-align: justify">a draft of the Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify; padding-right: 5pt">a copy of the articles of association of the Company in force as at the date of this
opinion (the <B>Articles</B>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify; padding-right: 16pt">a copy of the Company's Certificate of Incorporation dated 19 July 2000 issued by
the Registrar of Companies of England and Wales;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify">a search carried out on 24 June 2025 (carried out by us or by an information service provider (<B>ISP</B>)
on our behalf) of the public documents of the Company kept at Companies House in Cardiff (the <B>Company Search</B>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="padding-right: 11pt">a search carried out at 2.53 p.m. (London time) on 24 June 2025 (carried out by us or an ISP on our behalf)
of the Central Registry of Winding Up Petitions (the <B>Winding Up Enquiry</B>);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify; padding-right: 8pt">a certificate issued to us by the Corporate Counsel of the Company dated 26 June 2025
(the <B>Counsel's Certificate</B>); and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">a certificate issued to Freshfields Bruckhaus Deringer LLP by the Corporate Counsel of the Company dated
28 June 2021 (the <B>Historic Certificate</B>).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.4</TD><TD STYLE="text-align: justify; padding-right: 8pt">The documents listed in paragraphs 1.3(a) to 1.3(g) above are referred to in this
opinion as the <B>Documents</B> and we have relied upon the statements as to factual matters contained in or made pursuant to each of
the Documents.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">1.5</TD><TD STYLE="text-align: justify; padding-right: 23pt">Except as stated in paragraph 1.3 above, we have not, for the purpose of this opinion:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="padding-right: 4pt">examined any other contracts, agreements, instruments or documents and we have not made any search at the
High Court, Strand, London or any other court in the United Kingdom in respect of winding up, administration or similar petitions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">examined any corporate or other records of or affecting the Company;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="padding-right: 4pt">investigated whether the Company is or will be by reason of any of the transactions and matters contemplated
by the Documents in breach of any of its obligations under any other contract, agreement, instrument or document; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify; padding-right: 4pt">made any other enquiries concerning the Company or conducted any form of due diligence
into the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify"><B>Assumptions </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0.5in; text-align: justify">In considering the Documents and
rendering this opinion we have with your consent and without any further enquiry assumed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.1</TD><TD STYLE="padding-right: 6pt"><B>Authenticity</B>: the genuineness of all signatures (which, in this paragraph 2, includes electronic
signatures and references to &quot;sign&quot; shall be construed similarly), stamps and seals on, and the authenticity, accuracy and completeness
of, all documents submitted to us whether as originals or copies (including electronic copies);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.2</TD><TD STYLE="padding-right: 1pt"><B>Copies</B>: the conformity to originals and completeness of all documents supplied to us as photocopies,
portable document format (PDF) copies, digital photographs, facsimile copies or e-mail conformed copies (including electronic copies or
electronic conformed copies);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.3</TD><TD STYLE="padding-right: 5pt"><B>Drafts</B>: that, where a document has been examined by us in draft or specimen form, it will be or
has been duly executed and delivered in the form of that draft or specimen;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.4</TD><TD STYLE="padding-right: 14pt"><B>Counsel's Certificates</B>: that each of the statements contained in the Counsel's Certificate and
the Historic Certificate (and in the schedules to each of the Counsel's Certificate and the Historic Certificate) was true and correct
as at the date thereof and remains true and correct;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.5</TD><TD STYLE="padding-right: 1pt"><B>Company Search and Winding Up Enquiry</B>: that the information revealed by the Company Search and the
Winding Up Enquiry was accurate, complete and up-to-date and included all relevant information which had been properly submitted to the
Registrar of Companies or the Central Registry of Winding Up Petitions (as applicable), and no additional matters would have been disclosed
by searches or enquiries being carried out since the carrying out of the Company Search and the Winding Up Enquiry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.6</TD><TD STYLE="padding-right: 7pt"><B>Board Meeting in relation to the Special Voting Share</B>: that the meeting of the board of directors
of the Company to authorise the allotment and issue of the Special Voting Share was properly constituted and convened, that a quorum of
properly appointed directors of the Company (holding the necessary offices and meeting the other requirements for the purposes of forming
a quorum) was present throughout, that the resolutions referred to therein were properly passed at such meeting, that all provisions contained
in the Companies Act 1985, the Articles, the memorandum and articles of association of the Company in force as at the date of such meeting
and the articles of incorporation and by-laws of Carnival Corporation were duly observed, and that such resolutions
have not been amended, revoked or rescinded and are in full force and effect;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.7</TD><TD STYLE="padding-right: 6pt"><B>Directors' Duties</B>: that the directors of the Company, in authorising the allotment and issue of
the Special Voting Share and filing of the Registration Statement, have exercised their powers in accordance with their duties under all
applicable laws and the Articles and the memorandum and articles of association of the Company in force at the relevant time;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.8</TD><TD STYLE="padding-right: 31pt"><B>Bad faith, fraud etc.</B>: that there has been, and will be, no bad faith, fraud, coercion, duress
or undue influence on the part of any of the parties to the Documents and their respective directors, employees, agents and advisers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.9</TD><TD STYLE="padding-right: 4pt"><B>Unknown Facts</B>: that there are no facts or circumstances (and no documents, agreements, instruments
or correspondence) which are not apparent from the face of the Documents or which have not been disclosed to us that may affect the validity
or enforceability of the Documents or any obligation therein or otherwise affect the opinions expressed in this opinion;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.10</TD><TD STYLE="padding-right: 6pt"><B>Representations</B>: that the representations and warranties by the parties in the Documents in any
case (other than as to matters of law on which we opine in this opinion) are or were, as applicable, true, correct, accurate and complete
in all respects on the date such representations and warranties were expressed to be made and that the terms of the Documents have been
and will be observed and performed by the parties thereto;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.11</TD><TD STYLE="padding-right: 4pt"><B>Anti-terrorism, money laundering</B>: that the parties to the Documents have complied (and will continue
to comply) with all applicable anti-terrorism, anti-corruption, anti-money laundering, anti-tax evasion, other financial crime, civil
or criminal antitrust, cartel, competition, public procurement, state aid, sanctions and human rights laws and regulations, and that performance
and enforcement of the Documents is, and will continue to be, consistent with all such laws and regulations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.12</TD><TD STYLE="text-align: justify; padding-right: 7pt"><B>Secondary Legislation</B>: that all UK secondary legislation relevant to this opinion
is valid, effective and enacted within the scope of the powers of the relevant rule-making authorities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.13</TD><TD STYLE="text-align: justify"><B>Authorisations of the Special Voting Share</B>:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="padding-right: 17pt">that the Company had sufficient authorised capital at the time of the allotment and issue of the Special
Voting Share to effect such allotment and issue; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="padding-right: 6pt">that the Company had sufficient authority to allot the Special Voting Share pursuant to section 80 of the
Companies Act 1985 or any preceding legislation at the time of such allotment;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.14</TD><TD STYLE="padding-right: 6pt"><B>Pre-emption rights</B>: that the Company complied with all applicable pre-emption rights, whether pursuant
to law, regulation or the articles of association of the Company, at the time of the allotment and issue of the Special Voting Share;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">2.15</TD><TD><B>Filings under all laws</B>: that all consents, licences, approvals, notices, filings, recordations, publications and registrations
which are necessary under any applicable laws (other than the laws or regulations of England) in order to permit the execution, delivery
or performance of the Documents, including the filing of the Registration Statement and the allotment and issue of the Special Voting
Share, or to perfect, protect or preserve any of the interests created by the Documents, have been made or obtained, or will be made or
obtained within the period permitted or required by such laws or regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt; color: #747474">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Opinion</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.1</TD><TD STYLE="padding-right: 3pt">Based on the foregoing and subject to the matters set out in paragraphs 4 and 5 below and to any matters
not disclosed to us, we are of the opinion that the Special Voting Share has been duly authorised and validly issued and is fully paid
and non-assessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">3.2</TD><TD STYLE="padding-right: 5pt">For the purposes of this opinion, we have assumed that the term &quot;non-assessable&quot; in relation
to the Special Voting Share means under English law that the holder of such share, in respect of which all amounts due on such share as
to the nominal amount and any premium thereon have been fully paid, will be under no further obligation to contribute to the liabilities
of the Company solely in its capacity as holder of such share.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify"><B>Qualifications </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Our opinion is subject to the following
qualifications:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.1</TD><TD STYLE="text-align: justify; padding-right: 7pt"><B>Company Search</B>: the Company Search is not capable of revealing conclusively
whether or not:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify; padding-right: 7pt">a winding up order has been made or a resolution passed for the winding-up of a company;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">an administration order has been made; or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify; padding-right: 22pt">a receiver, administrative receiver, administrator or liquidator has been appointed;
or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD STYLE="text-align: justify; padding-right: 47pt">a court order has been made under the Cross-Border Insolvency Regulations 2006,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14pt 0pt 0.5in">since notice of these matters may not be filed with the
Registrar of Companies immediately and, when filed, may not be entered on the public microfiche of the relevant company immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">In addition, the Company Search is not capable of revealing,
prior to the making of the relevant order or the appointment of an administrator otherwise taking effect, whether or not a winding-up
petition or an application for an administration order has been presented or notice of intention to appoint an administrator under paragraphs
14 or 22 of Schedule B1 to the Insolvency Act 1986 (the <B>Insolvency Act</B>) has been filed with the court;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">4.2</TD><TD STYLE="text-align: justify"><B>Winding Up Enquiry</B>: the Winding Up Enquiry relates only
to the presentation of: (i) a petition for the making of a winding-up order or the making of a winding-up order by the Court, (ii) an
application to the High Court of Justice in London for the making of an administration order and the making by such court of an administration
order, (iii) a notice of intention to appoint an administrator or a notice of appointment of an administrator filed at the High Court
of Justice in London; and (iv) a notice of a moratorium under Part AI of the Insolvency Act. It is not capable of revealing conclusively
whether or not such a winding-up petition, application for an administration order, notice of intention, notice of appointment or notice
of a moratorium has been presented or winding-up or administration order granted, because:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="padding-right: 17pt">details of a winding-up petition or application for an administration order may not have been entered
on the records of the Central Registry of Winding Up Petitions immediately;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="padding-right: 4pt">in the case of an application for the making of an administration order and such order and the presentation
of a notice of intention to appoint or notice of appointment and a notice of moratorium, if such application is made to, order made by
or notice filed with, a Court other than the High Court of Justice in London, no record of such application, order or notice will be kept
by the Central Registry of Winding Up Petitions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="padding-right: 20pt">a winding up order or administration order may be made before the relevant petition or application has
been entered on the records of the Central Registry of Winding Up Petitions, and the making of such order may not have been entered on
the records immediately;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">details of a notice of intention to appoint an administrator
or a notice of appointment of an administrator under paragraphs 14 and 22 of Schedule B1 of the Insolvency Act and details of a notice
of moratorium under Part AI of the Insolvency Act may not be entered on the records immediately (or, in the case of a notice of intention
to appoint, at all); and</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="padding-right: 1pt">with regard to winding-up petitions, the Central Registry of Winding Up Petitions may not have records
of winding up petitions issued prior to 1994;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.3</TD><TD STYLE="padding-right: 11pt"><B>Jurisdiction</B>: no opinion is given as to whether or not any court will take jurisdiction, or whether
the English courts would grant a stay of any proceedings commenced in England, or whether the English courts would grant any relief ancillary
to proceedings commenced in a foreign court;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.4</TD><TD STYLE="padding-right: 2pt"><B>Foreign Courts</B>: we express no opinion as to whether or not a foreign court, including the chosen
court (applying its own conflict of laws rules), will act in accordance with the parties' agreement as to jurisdiction and/or choice of
law; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">4.5</TD><TD STYLE="padding-right: 4pt"><B>Insolvency</B>: this opinion is subject to all applicable laws relating to insolvency, bankruptcy, administration,
moratorium, reorganisation, liquidation or analogous circumstances and other similar laws of general application relating to or affecting
generally the enforcement of creditors' rights and remedies from time to time.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify"><B>Observations </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0in"></TD>
  <TD STYLE="text-align: justify; width: 0.5in">&nbsp;</TD>
  <TD STYLE="text-align: justify">We should also like to make the following observations, it should be understood that:</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.1</TD><TD STYLE="padding-right: 6pt"><B>Factual Statements</B>: we have not been responsible for verifying whether any statements of fact (including
as to foreign law) or any statement of opinion or intention contained in or relevant to the Documents or any related documents are accurate,
complete or reasonable or that no material facts have been omitted therefrom;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.2</TD><TD STYLE="text-align: justify; padding-right: 2pt"><B>Tax</B>: we express no opinion as to any liability to tax or to make any tax filing
which may arise as a result of or in connection with any Document;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.3</TD><TD STYLE="text-align: justify; padding-right: 4pt"><B>Company Search</B>: we have not conducted any further searches since the date of
the Company Search and the Winding Up Enquiry;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.4</TD><TD STYLE="text-align: justify"><B>Enforceability</B>: we express no opinion on whether the obligations of the Company under the Documents
are enforceable against it in the English courts;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in">5.5</TD><TD><B>Nature of Role</B>: we have not been involved in the preparation or negotiation of the Documents, and have reviewed them only for
the limited purpose of giving this opinion. Accordingly, we express no view as to the suitability of the Documents or of their provisions
or their general compliance with market practice or any commercial aspects of the Documents; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt">5.6</TD><TD STYLE="text-align: justify; padding-right: 28pt"><B>Operational Licences</B>: we have not investigated whether the Company has obtained
any of the operational licences, permits and consents which it may require for the purpose of carrying on its business.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt; text-align: left"><FONT STYLE="font-size: 10pt; color: #747474">6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Limitations of Liability</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt">6.1</TD><TD STYLE="padding-right: 1pt">Where you have received advice from a number of advisers in connection with the matters on which we opine
in this opinion or any related matter in respect of which we could be potentially jointly or severally liable with any such other advisers
for losses suffered by you, our liability will not be affected by any limitation of liability which you may agree with any other advisers.
Accordingly, our liability to you will be limited to such proportion of the losses suffered by you as is finally determined to be just
and equitable, having regard to the relative responsibility of ourselves and any other person who is jointly or severally liable for such
losses. If you have received advice from any other advisers with respect to matters on which we opine in this opinion which qualifies
such opinions then, to the extent that such advice is correct, you will not place any reliance on the unqualified opinions contained in
this opinion, and we will have no liability to you in connection therewith.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt">6.2</TD><TD>Your reliance on the matters addressed in this opinion letter is on the basis that any associated recourse is against the firm's assets
only and not against the personal assets of any individual partner. The firm's assets for this purpose consist of all assets of the firm's
business, including any right of indemnity of the firm or its partners under the firm's professional indemnity insurance policies, but
excluding any right to seek contribution or indemnity from or against any partner of the firm or person working for the firm or similar
right. The restrictions in the previous sentences apply to any claim, whether in contract, tort (including negligence) for breach of statutory
duty, or otherwise, but they do not apply in the case of our wilful misconduct or fraud or where and to the extent prohibited by applicable
law and regulation (including without limitation, the rules of professional responsibility governing the practice of law).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt">6.3</TD><TD STYLE="padding-right: 2pt">This opinion is limited to English law in force as at the date of this opinion and as currently applied
by the English courts and this opinion and any non-contractual obligations arising out of or in relation to this opinion are governed
by, and are to be construed in accordance with, English law. Accordingly, we express no opinion with regard to any system of law other
than the laws of England as currently applied by the English courts. We undertake no responsibility to notify you of any change in English
law after the date of this opinion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.45pt; text-align: left">6.4</TD><TD STYLE="text-align: justify">We hereby consent to the use of our name in the Registration
Statement and to the filing of this opinion as Exhibit 5.3 to the Registration Statement. In giving this consent, we do not thereby admit
that we are within the category of persons whose consent is required by the Act or by the rules and regulations promulgated thereunder.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="width: 15pc"><FONT STYLE="font-size: 10pt">Registration Statement on Form S-8</FONT></TD>
  <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">26 June 2025</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15pt"></TD><TD STYLE="width: 39.35pt">7.</TD><TD STYLE="text-align: justify"><B>Benefit of Opinion </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1pt 0pt 39.5pt">This opinion is given by Ashurst LLP and by no other person
for the sole benefit of the persons to whom it is addressed (each a <B>Recipient</B>) in relation to the Registration Statement to be
filed under the Act. It is not to be transmitted to any person nor is it to be relied upon by any other person or for any other purpose,
nor is its contents to be quoted or referred to in any public document without our prior written consent, except that we consent to the
filing of this opinion as an exhibit to the Registration Statement on the basis stated in paragraph 6.4. We accept no liability in respect
of this opinion to any person other than a Recipient.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.15pt"></TD><TD STYLE="width: 39.35pt">8.</TD><TD STYLE="text-align: justify"><B>Governing Law and Jurisdiction </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 39.5pt">8.1</TD><TD STYLE="text-align: justify; padding-right: 2pt">This opinion and any non-contractual obligations arising out of or in relation to
this opinion are governed by English law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.05pt"></TD><TD STYLE="width: 39.45pt">8.2</TD><TD STYLE="padding-right: 9pt">The English courts shall have exclusive jurisdiction, to which you and we submit, in relation to all disputes
(including claims for set-off and counterclaims) arising out of or in connection with this opinion, including, without limitation, disputes
arising out of or in connection with: (i) the creation, effect or interpretation of, or the legal relationships established by, this opinion;
and (ii) any non-contractual obligations arising out of or in connection with this opinion.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 297pt 0pt 39.5pt; text-align: justify">Yours faithfully</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 297pt 0pt 39.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 297pt 0pt 39.5pt; text-align: justify">/s/ Ashurst LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 297pt 0pt 39.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.5pt; text-align: justify"><B>Ashurst LLP </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.5pt; text-align: justify"></P>

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<DOCUMENT>
<TYPE>EX-23.4
<SEQUENCE>5
<FILENAME>tm2518990d1_ex23-4.htm
<DESCRIPTION>EXHIBIT 23.4
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82pt"><B>Exhibit 23.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 82pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in this joint Registration
Statement on Form S-8 of our report dated January 27, 2025 relating to the financial statements of Carnival Corporation and Carnival plc
and the effectiveness of Carnival Corporation and Carnival plc&rsquo;s internal control over financial reporting, appearing in the Annual
Report on Form 10-K of Carnival Corporation and Carnival plc for the year ended November 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 345pt 0pt 0">/s/ Deloitte &amp; Touche LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 345pt 0pt 0">Miami, Florida&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 26, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.5
<SEQUENCE>6
<FILENAME>tm2518990d1_ex23-5.htm
<DESCRIPTION>EXHIBIT 23.5
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 23.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>CONSENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the incorporation by reference in this joint Registration
Statement on Form S-8 of Carnival Corporation and Carnival plc of our report dated January 26, 2024, relating to the financial statements,
which appears in the Carnival Corporation and Carnival plc's Annual Report on Form 10-K for the year ended November 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 313pt 0pt 0">/s/ PricewaterhouseCoopers LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 313pt 0pt 0">Miami, Florida&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 26, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>tm2518990d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>CARNIVAL CORPORATION<BR>
1993 EMPLOYEE STOCK PURCHASE PLAN</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Amended and Restated
as of April 16, 2025&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #0B0B0B"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Page</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>1.</TD>
    <TD COLSPAN="3">Purpose </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>2.</TD>
    <TD COLSPAN="3">Administration </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Compliance with Rule 16b-3</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">The Committee</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Interpretation of the Plan</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>3.</TD>
    <TD COLSPAN="4">Common Stock Subject to Plan</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>4.</TD>
    <TD COLSPAN="4">Offerings of Common Stock</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">(a)</TD>
    <TD STYLE="width: 3%">Offerings</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Business Day</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>5.</TD>
    <TD COLSPAN="4">Eligibility to Participate in the Plan</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Eligible Employees</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="2">Subsidiary</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Continuous Service</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>6.</TD>
    <TD COLSPAN="4">Enrollment:&#8239;&#8239;Election to Participate by Deposits and Payroll Deductions</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Enrollment</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Enrollment Form</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Participating Employee</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD>Paymaster</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Participating Depositing Employees</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Deposit Election</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Participating Depositing Employee</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD COLSPAN="2">Change in Status During an Offering to an Ineligible Employee</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iv)</TD>
    <TD COLSPAN="2">Mandatory Continuing Reelection to Participate</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(v)</TD>
    <TD COLSPAN="2">Failure to Make Deposits in a Timely Manner and in the Agreed Amounts</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(A)</TD>
    <TD>Insufficient Deposit</TD>
    <TD STYLE="text-align: right">7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(B)</TD>
    <TD>Return of Excessive Deposit</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(vi)</TD>
    <TD COLSPAN="2">Deposit</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Participating Withholding Employees</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Withholding Election</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Offerings to Which Payroll Deductions Are to be Applied</TD>
    <TD STYLE="text-align: right">8</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD COLSPAN="2">Participating Withholding Employee</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iv)</TD>
    <TD COLSPAN="2">Restricted Employees</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(v)</TD>
    <TD COLSPAN="2">Paycheck</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(vi)</TD>
    <TD COLSPAN="2">Change in Status During an Offering</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(A)</TD>
    <TD>Change in Status to a Restricted Employee</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(B)</TD>
    <TD>Change in Status to an Ineligible Employee</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(vii)</TD>
    <TD COLSPAN="2">Deemed Election Regarding Continuing Participation as a Participating Withholding Employee</TD>
    <TD STYLE="text-align: right">10</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>TABLE OF CONTENTS</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">(continued)</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(viii)</TD>
    <TD COLSPAN="2">Changing Payroll Deductions Prior to Any Offering</TD>
    <TD STYLE="text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ix)</TD>
    <TD COLSPAN="2">Discontinuing Payroll Deductions During Any Offering</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">(d)</TD>
    <TD STYLE="width: 3%">General</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Election Forms</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Inactive Participating Employee</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD COLSPAN="2">Death, Retirement and Termination of Employment</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iv)</TD>
    <TD COLSPAN="2">Reenrollment or Ending Inactive Participation</TD>
    <TD STYLE="text-align: right">11</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>7.</TD>
    <TD COLSPAN="4">Stock Purchase Accounts </TD>
    <TD STYLE="text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Minimum/Maximum Allowable Deposits and Payroll Deductions</TD>
    <TD STYLE="text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="2">Deposits</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Inactive Status:&#8239;&#8239;Failure to Invest</TD>
    <TD STYLE="text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD COLSPAN="3">Annual Limit of U.S. $17,647.06</TD>
    <TD STYLE="text-align: right">12</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD COLSPAN="3">Five Percent Limitations:&#8239;&#8239;Ineligible Employees</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD COLSPAN="3">Maximum Number of Shares</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD COLSPAN="3">Merger, Consolidation, Dissolution or Liquidation</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>8.</TD>
    <TD COLSPAN="4">Investment of Moneys in Stock Purchase Accounts to Purchase Common Stock:&#8239;&#8239;Investment Accounts</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Right to Purchase on an Investment Date</TD>
    <TD STYLE="text-align: right">13</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Investment Accounts</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Definitions</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Investment Date</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Purchase Price</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD COLSPAN="2">Fair Market Value</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD COLSPAN="3">Deemed Grant of Options</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>9.</TD>
    <TD COLSPAN="4">Limitation of Number of Shares That an Employee May Purchase</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Annual Limit of U.S. $17,647.06</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Limitation of Five Percent Voting Power</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD COLSPAN="2">Five Percent Holder</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD COLSPAN="2">Safe Harbor Purchase Limitations</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD COLSPAN="2">Determination of Stock Ownership</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Effect on Eligibility</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD COLSPAN="3">Insufficient Number of Shares</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>10.</TD>
    <TD COLSPAN="4">Rights Not Transferable</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>11.</TD>
    <TD COLSPAN="4">Adjustment upon Changes in Capitalization:&#8239;&#8239;Effects of Certain Transactions</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Changes in Capitalization</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Effect of Merger.&#8239;&#8239;Consolidation, Dissolution or Liquidation</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>12.</TD>
    <TD COLSPAN="4">Share Ownership</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>13.</TD>
    <TD COLSPAN="4">Right to Terminate Employment</TD>
    <TD STYLE="text-align: right">17</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>TABLE OF CONTENTS</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">(continued)</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>14.</TD>
    <TD COLSPAN="4">Nonalienation of Benefits</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>15.</TD>
    <TD COLSPAN="4">Purchase for Investment</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>16.</TD>
    <TD COLSPAN="4">Termination and Amendment of Plan</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD COLSPAN="3">Insufficient Number of Shares</TD>
    <TD STYLE="text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD COLSPAN="3">Termination by the Board of Directors</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD COLSPAN="3">Effect of Termination of Plan on Participating Employees</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>17.</TD>
    <TD COLSPAN="4">Government and Other Regulations</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>18.</TD>
    <TD COLSPAN="4">Withholding</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>19.</TD>
    <TD COLSPAN="4">Severability</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>20.</TD>
    <TD COLSPAN="4">Non-Exclusivity of the Plan</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>21.</TD>
    <TD COLSPAN="4">Governing Law</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1993 EMPLOYEE STOCK PURCHASE PLAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #0E0E0E">Carnival Corporation
a Panamanian corporation (the </FONT>&ldquo;<B>Company</B>&rdquo;), <FONT STYLE="color: #0E0E0E">hereby formulates and adopts the following
1993 Employee Stock Purchase Plan (the </FONT>&ldquo;<B>Plan</B>&rdquo;) for <FONT STYLE="color: #0E0E0E">Eligible Employees (as defined
in Paragraph 5(a)&nbsp;of the Plan) of </FONT><FONT STYLE="color: #1C1C1C">the </FONT><FONT STYLE="color: #0E0E0E">Company and each Subsidiary
(as defined in Paragraph 5(b)&nbsp;of the Plan) of the Company that has adopted the Plan with the consent of the Board of Directors of
the Company (the </FONT>&ldquo;<B>Board of Directors</B>&rdquo;). <FONT STYLE="color: #0E0E0E">The Company and each Subsidiary so adopting
the Plan are referred to for purposes of the Plan collectively as the</FONT> &ldquo;<B>Employers</B>&rdquo; and <FONT STYLE="color: #0E0E0E">separately
as an</FONT> &ldquo;<B>Employer</B>&rdquo;. The <FONT STYLE="color: #0E0E0E">Plan was effective on January&nbsp;15, 1993, the date of
its adoption by the Board of Directors (the </FONT>&ldquo;<B>Effective Date</B>&rdquo;), subject, <FONT STYLE="color: #0E0E0E">however,
to approval of the Plan by the Company&rsquo;s shareholders within 12 months after the date of such adoption. The Plan was restated effective
July&nbsp;1, 1999, and was further amended effective December 1, 2003, January 21, 2025 and April 16, 2025.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>1.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Purpose</B>.
The purpose of the Plan is to secure for the Company and the other Employers the benefits of the additional incentive inherent in the
ownership by Eligible Employees of Common Stock, par value $.01 per share, of the Company (&ldquo;<B>Common Stock</B>&rdquo;) and to help
the Company and the other Employers secure and retain the services of the Eligible Employees. The Plan is intended to comply with the
provisions of sections 421, 423 and 424 of the Internal Revenue Code of 1986, as amended (the &ldquo;<B>Code</B>&rdquo;) and the rules&nbsp;and
regulations promulgated thereunder (the &ldquo;<B>Regulations</B>&rdquo;), and the Plan shall be administered, interpreted and construed
in accordance with such provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>2.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Administration</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Compliance
with Rule&nbsp;16b-3</U>. The Plan shall be administered in a manner consistent with the requirements for exemptive relief under Rule&nbsp;16b-3
or any successor provision under the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;) unless the Board
of Directors shall determine that it is not in the best interests of the Corporation and the other Employers that the Plan be so administered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>The
Committee</U>. The Plan shall be administered by the Compensation Committee of the Board of Directors (the &ldquo;<B>Committee</B>&rdquo;).
The Committee may delegate any of its administrative functions to employees of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Interpretation
of the Plan</U>. Subject to the express provisions of the Plan, the Committee shall have plenary authority to interpret the Plan, to prescribe,
amend and rescind the rules&nbsp;and regulations relating to it and to make all other determinations deemed necessary and advisable for
the administration of the Plan. The determinations of the Committee shall be conclusive<FONT STYLE="color: #2D2D2D">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>3.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Common
Stock Subject to Plan</B>. Subject to the adjustment provisions of Paragraph 11 below, a maximum of <FONT STYLE="color: #2D2D2D">Eight
</FONT>Million (<FONT STYLE="color: #2D2D2D">8</FONT>,000,000) shares of Common Stock may be made available for purchase under the Plan.
Shares subject to the Plan may be shares of authorized and unissued Common Stock, shares of issued Common Stock held in the Company&rsquo;s
treasury, or both. There shall be reserved at all times for sale under the Plan a number of shares, of either authorized and unissued
shares of Common Stock, shares of Common Stock held in the Company&rsquo;s treasury, or both, equal to the maximum number of shares of
Common Stock that may be purchased under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>4.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Offerings
of Common Stock</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Offerings</U>.
The right to purchase shares of Common Stock pursuant to the Plan shall be made available to Eligible Employees in a series of semi-annual
offerings beginning on the first Business Day (as defined in subparagraph 4(b)&nbsp;below) of each January&nbsp;and July&nbsp;during which
the Plan is in effect (individually an &ldquo;<B>Offering</B>&rdquo; and collectively the &ldquo;<B>Offerings</B>&rdquo;). If and to the
extent that any right to purchase reserved shares of Common Stock shall not be exercised by any Participating Employee (as defined in
Paragraph 6(a)(ii)&nbsp;of the Plan) for any reason or if any such right to purchase shall terminate as provided herein, shares of Common
Stock that have not been so purchased under the Plan shall again become available for the purposes of the Plan unless the Plan has been
terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Business
Day</U>. For purposes of the Plan, &ldquo;<B>Business Day</B>&rdquo; shall mean any day on which both the Company and the New York Stock
Exchange (the &ldquo;<B>NYSE</B>&rdquo;) are open for business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>5.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Eligibility
to Participate in the Plan</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Eligible
Employees</U>. All members of the Board of Directors of an Employer, all corporate officers of an Employer, and any other person employed
by an Employer shall be eligible to participate in the Plan, <U>provided</U> that each of such persons at the time of any determination
of eligibility (i)&nbsp;is classified by his or her Employer as (A)&nbsp;a regular full-time employee of such Employer, or (B)&nbsp;a
part-time employee of such Employer whose customary employment is for fifteen (15) hours or more per week and for five (5)&nbsp;months
or more per year, (ii)&nbsp;has been employed by any Employer or any other Subsidiary for at least six months&rsquo; Continuous Service
(as defined in subparagraph 5(c)&nbsp;below), and (iii)&nbsp;is not a Five Percent Holder (as defined in Paragraph 9(b)(i)&nbsp;of the
Plan), each of whom are referred to for purposes of the Plan as &ldquo;<B>Eligible Employee</B>&rdquo; and collectively as &ldquo;<B>Eligible
Employees</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Subsidiary</U>.
For purposes of the Plan, a &ldquo;<B>Subsidiary</B>&rdquo; of the Company shall mean any &ldquo;subsidiary corporation&rdquo;, as such
term is defined in section 424(f)&nbsp;of the Code. An entity shall be deemed a Subsidiary of the Company only for such periods as the
requisite ownership relationship is maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Continuous
Service</U>. For purposes of the Plan, &ldquo;<B>Continuous Service</B>&rdquo; means with respect to any Eligible Employee the period
of time during which the Eligible Employee has been employed (i)&nbsp;by any Employer or any other Subsidiary or (ii)&nbsp;with the approval
of the Committee, (A)&nbsp;by a predecessor business acquired by any Employer or any other Subsidiary or (B)&nbsp;by a predecessor company
merged or consolidated with or into any Employer or any other Subsidiary, and during which period there has been no interruption of the
Eligible Employee&rsquo;s employment by such Employer, such Subsidiary or such predecessor employer; <U>provided, however</U>, that, for
this purpose, Continuous Service shall include periods prior to the Effective Date; and <U>provided further, however</U>, that any change
of employment by the Eligible Employee shall not be considered to be an interruption of Continuous Service so long as the Eligible Employee
has continued to be employed by an Employer or any other Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>6.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Enrollment:
Election to Participate by Deposits and Payroll Deductions</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Enrollment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Enrollment
Form</U>. Any Eligible Employee may elect at any time to enroll in the Plan by correctly enrolling with his or her Paymaster (as defined
in subparagraph 6(a)(iii)&nbsp;below) in such form as proscribed by the Committee (an &ldquo;<B>Enrollment Form</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Participating
Employee</U>. Any Eligible Employee who has elected to participate shall be referred to for purposes of the Plan as a &ldquo;<B>Participating
Employee</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Paymaster</U>.
For purposes of the Plan, &ldquo;<B>Paymaster</B>&rdquo; means with respect to each Eligible Employee, the person(s)&nbsp;or department(s)&nbsp;charged
by the Committee with the responsibility for administering the Plan for the Employer of the Eligible Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Participating
<FONT STYLE="color: #0C0C0C">Depositing </FONT>Employees</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Deposit
Election</U>. Subject to any restrictions imposed by the Committee, at any time during the period from the ninetieth (90th) day to and
including the tenth (10th) Business Day prior to the first day of any Offering, any Participating Employee may elect to actively participate
in the Plan by enrolling by making a deposit election (&ldquo;<B>Deposit Election</B>&rdquo;) indicating that he or she (1)&nbsp;is a
Participating Employee, (2)&nbsp;elects to actively participate in the Plan by making Deposits (as defined in subparagraph 6(b)(v)&nbsp;below),
which is specifically identified as to the amount thereof, to his or her Stock Purchase Account (as defined in Paragraph 7 of the Plan)
during that Offering, which Deposit he or she commits to deliver to his or her Paymaster on or before the twentieth (20th) Business Day
prior to the Investment Date (as defined in subparagraph 8(c)(i)&nbsp;of the Plan) for that Offering and (3)&nbsp;authorizes his or her
Employer to deposit in his or her Stock Purchase Account the Deposit referred to in the Deposit Election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in; color: #0C0C0C">The effective date of
a Deposit Election shall be the first day of the Offering next following the date on which the election is made. Any effective Deposit
Election shall remain effective only for the Offering with respect to which it is filed and until such time as the Participating Employee
filing such Deposit Election (A)&nbsp;shall have ceased to be an Eligible Employee in accordance with subsection 6(b)(iii)&nbsp;below,
or (B)&nbsp;shall be deemed to have elected to cease to actively participate in the Plan as a Participating Depositing Employee including,
without limitation, in accordance with subsections 6(b)(v)(A)&nbsp;or 6(c)(ix)&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Participating
Depositing Employee</U>. Any Participating Employee who has on file an effective Deposit Election shall be referred to for purposes of
the Plan as a &ldquo;<B>Participating Depositing Employee</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Change
in Status During an Offering to an Ineligible Employee</U>. If at any time during an Offering a Participating Depositing Employee ceases
to be an Eligible Employee for any reason, including, without limitation, upon his or her death or retirement or termination of his or
her employment, then the Participating Depositing Employee will be deemed to have made an election to cease to actively participate in
the Plan as a Participating Depositing Employee and to have authorized his or her Employer to return to him or her the balance standing
to his or her credit in his or her stock Purchase Account in accordance with Paragraph 7(e). Such deemed election shall be effective as
of the date of the occurrence causing the Participating Depositing Employee to cease to be an Eligible Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Mandatory
Continuing Reelection to Participate</U>. A Participating Depositing Employee must elect, with respect each successive Offering, to continue
to actively participate in the Plan as a Participating Depositing Employee during such Offering, which election must be made by complying
with subparagraph 6(b)&nbsp;(i)&nbsp;above. Any Participating Depositing Employee not making an effective election with respect to any
Offering to continue to actively participate in the Plan as a Participating Depositing Employee during such Offering shall be deemed to
have voluntarily elected to cease to actively participate in the Plan as a Participating Depositing Employee for such Offering and shall
cease to be a Participating Depositing Employee for such Offering and for each successive Offering. The effective date of any such deemed
election shall be the first day of the Offering to which such deemed election relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Failure
to Make Deposits in a Timely Manner and in the Agreed Amounts</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"><FONT>(A)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Insufficient
Deposit</U>. If a Participating Depositing Employee who has on file an effective Deposit Election fails to timely make the Deposit in
the dollar amount to which he or she committed in the Deposit Election for any reason, such insufficient Deposit shall be deposited in
the Stock Purchase Account of the Participating Depositing Employee. Any balance standing to the credit of a Participating Depositing
Employee in his or her Stock Purchase Account after making such an insufficient Deposit shall remain in the Stock Purchase Account of
the Participating Depositing Employee and be applied on the Investment Date for that Offering in accordance with Paragraph 8 of the Plan.
Such Participating Depositing Employee may elect to actively participate in the Plan with respect to any subsequent Offering by completing
an effective Election Form&nbsp;in accordance with subparagraph 6(b)(i)&nbsp;or 6(c)(i), as appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"><FONT>(B)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Return
of Excessive Deposit</U>. If a Participating Depositing Employee makes a timely Deposit in an amount greater than the dollar amount specified
in his or her effective Deposit Election, any amount in excess of the amount specified in the Deposit Election shall be returned by his
or her Employer to the Participating Depositing Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(vi)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Deposit</U>.
For purposes of the Plan, a &ldquo;<B>Deposit</B>&rdquo; means cash in U.S. dollars or a money order that is payable in U.S. dollars,
that is identified in an effective Deposit Election and delivered to the Paymaster of the Participating Depositing Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Participating
Withholding Employees</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Withholding
Election</U>. Subject to any restrictions imposed by the Committee, at any time during the period from the ninetieth (90th) day to and
including the tenth (10th) Business Day prior to the first day of any Offering, any Participating Employee may elect to actively participate
in the Plan by enrolling by making a withholding election (&ldquo;<B>Withholding Election</B>&rdquo;) indicating that he or she (A)&nbsp;is
a Participating Employee and is not a Restricted Employee (as defined in subparagraph 6(c)(iv)&nbsp;below), (B)&nbsp;elects to actively
participate in the Plan through Payroll Deductions (as defined below), and (C)&nbsp;authorizes his or her Employer to make the amount
of payroll deductions specified therein (&ldquo;<B>Payroll Deductions</B>&rdquo;) from each subsequent Paycheck as provided in 8/13 subparagraph
6(c)(ii)&nbsp;below. Restricted Employees may not file a Withholding Election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The effective date of a Withholding Election authorizing
Payroll Deductions shall be the first day of the Offering next following the date on which the election is made. Any effective Withholding
Election shall remain effective until such time as the Participating Employee filing such Withholding Election (1)&nbsp;shall have completed
an effective Withholding Election replacing the previously effective Withholding Election in accordance with subsection 6(c)(viii)&nbsp;or
6(c)(ix)&nbsp;below, or (2)&nbsp;shall be deemed to have elected to cease to actively participate in the Plan through Payroll Deductions,
including, without limitation, in accordance with subsections 6(b)(v)(A)&nbsp;above or 6(c)(ix)&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Offerings
to Which Payroll Deductions Are to be Applied</U>. Payroll Deductions for a Participating Employee shall begin on the issue date of his
or her Paycheck for the first complete pay period coincident with or next following the effective date of a Withholding Election and shall
continue thereafter until the issue date of the Paycheck for the first complete pay period next following the date on which such Withholding
Election ceases to be effective. Any Payroll Deductions that are made during a Paycheck that includes an Investment Date for any Offering
shall be deposited in the Participating Employee&rsquo;s Stock Purchase Account after such Investment Date and applied on the Investment
Date for the next Offering in accordance with subparagraph 8(a)&nbsp;of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Participating
Withholding Employee</U>. Any Participating Employee who has on file an effective Withholding Election shall be referred to for purposes
of the Plan as a &ldquo;<B>Participating Withholding Employee</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Restricted
Employees</U>. For purposes of the Plan a &ldquo;<B>Restricted Employee</B>&rdquo; shall mean any Employee working outside of the
United States, including those working shipboard. A Restricted Employee may not actively participate in the Plan as a Participating
Withholding Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(v)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Paycheck</U>.
For purposes of the Plan, a &ldquo;<B>Paycheck</B>&rdquo; means any check for compensation received by an Eligible Employee from his or
her Employer at the end of a regular pay period of the Eligible Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(vi)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Change
<FONT STYLE="color: #0A0A0A">in </FONT>Status During an Offering</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"><FONT>(A)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Change
in Status to a Restricted Employee</U>. If an Eligible Employee who is a Participating Withholding Employee shall become a Restricted
Employee at any time during an Offering, such Eligible Employee immediately shall be treated as a Restricted Employee for purposes of
the Plan and immediately upon the occurrence of the event causing him or her to be a Restricted Employee shall be deemed to have made
an election to cease to actively participate in the Plan as a Participating Withholding Employee and to have authorized his or her Employer
to discontinue his or her Payroll Deductions. The effective date of any such deemed election shall be the date of the event causing the
Eligible Employee to be classified as a Restricted Employee, which deemed election shall remain effective until such time as the Restricted
Employee shall have on file with his or her Paymaster an effective Withholding Election. Any balance standing to the credit of a Participating
Withholding Employee in his or her Stock Purchase Account after such a change in status to a Restricted Employee shall remain in his or
her Stock Purchase Account and be applied on the next Investment Date in accordance with Paragraph 8 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"><FONT>(B)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Change
in Status to an Ineligible Employee</U>. If at any time during an Offering a Participating Withholding Employee ceases to be an Eligible
Employee for any reason, including, without limitation, upon his or her death or retirement or termination of his or her employment, then
the Participating Withholding Employee will be deemed to have made an election to cease to actively participate in the Plan as a Participating
Withholding Employee and to have authorized his or her Employer to discontinue his or her Payroll Deductions, in each case as of the date
of the occurrence causing the Participating Withholding Employee to cease to be an Eligible Employee. Any balance standing to the credit
of a Participating Withholding Employee in his or her Stock Purchase Account after ceasing to be an Eligible Employee shall be returned
to him or her in accordance with Paragraph 7(e)&nbsp;of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(C)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Special
Eligibility Provision</U>. Notwithstanding B above, to the extent a Participating Withholding Employee terminates employment with an Employer
(prior to the Investment Date of December&nbsp;26, 2003) in the month of December&nbsp;2003, such Eligible Employee shall continue to
be treated as an Eligible Employee for purposes of the Plan. If such individual has transferred employment to Carnival plc (and its subsidiaries)
(a &ldquo;<B>Transferred Employee</B>&rdquo;), such Employee&rsquo;s regular payroll withholding shall continue unless he or she elects
to cease participation in the Plan for such Offering. If such individual has terminated employment with an Employer (and is not transferred
to Carnival plc), that Employee shall remit to the Company an amount equal to his or her regular withholding amount unless he or she elects
to cease participation in the Plan for such Offering. If employees described in this paragraph choose not to contribute their previously-elected
Payroll Deduction, then such employees shall constitute Ineligible Employee and will be subject to section (B)&nbsp;above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(vii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Deemed
Election Regarding Continuing Participation as a Participating Withholding Employee</U>. A Participating Withholding Employee will be
deemed to have elected to continue to actively participate through Payroll Deductions in each Offering subsequent to becoming a Participating
Withholding Employee, <U>provided</U>, that on the first day of such Offering he or she is an Eligible Employee and is not a Restricted
Employee and has not filed with his or her Paymaster, in accordance with subparagraph 6(c)(ix)&nbsp;below, an effective Withholding Election
authorizing his or her Employer to discontinue his or her Payroll Deductions. A Participating Withholding Employee will also be deemed
to have elected to have his or her Employer make the same Payroll Deduction for each subsequent Offering, <U>provided</U>, that on the
first day of such Offering he or she is an Eligible Employee and is not a Restricted Employee and has not filed with his or her Paymaster,
in accordance with subparagraph 6(c)(viii)&nbsp;below, an effective Election Form&nbsp;authorizing his or her Employer to increase or
decrease his or her Payroll Deductions. A Participating Withholding Employee who as of the first day of any offering after he or she becomes
a Participating Withholding Employee (A)&nbsp;is a Restricted Employee or (B)&nbsp;is not an Eligible Employee, in any such case shall
be deemed to have elected to cease to actively participate in the Plan as a Participating Withholding Employee for such Offering. The
effective date of any such deemed election shall be the first day of the Offering to which such deemed election relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(viii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Changing
Payroll Deductions Prior to Any Offering</U>. A Participating Withholding Employee may increase or decrease his or her Payroll Deductions
for any entire Offering at any time during the period from the ninetieth (90th) day to and including the tenth (10th) Business Day prior
to the first day of any Offering by correctly completing, executing and filing with his or her Paymaster a Withholding Election authorizing
his or her Employer to increase or decrease his or her previously authorized Payroll Deductions to the amount of Payroll Deductions specified
therein. Any such increase or decrease shall become effective on the issue date of the Paycheck for the first complete pay period next
following the first day of the Offering next following the date on which his or her Paymaster receives from the Participating Withholding
Employee a properly completed, executed and timely filed Withholding Election indicating such an election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ix)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Discontinuing
Payroll Deductions During Any Offering</U>. A Participating Withholding Employee may at any time elect to cease to actively participate
in the Plan as a Participating Withholding Employee during any Offering by correctly completing, executing and filing with his or her
Paymaster a Withholding Election authorizing his or her Employer to discontinue his or her Payroll Deductions and identifying the first
full Paycheck with respect to which the discontinuation is to be effective. Any such Withholding Election authorizing the discontinuation
of Payroll Deductions and the election set forth therein shall become effective on the issue date of the Paycheck that is identified in
the properly completed, executed and timely filed Withholding Election indicating such an election. If a Participating Withholding Employee
so elects to cease to actively participate in the Plan through Payroll Deductions during any Offering prior to the last Paycheck from
which Payroll Deductions are applied during such Offering in accordance with subparagraph 6(c)(ii), any balance standing to the credit
of a Participating Withholding Employee in his or her Stock Purchase Account after making such an election to discontinue Payroll Deductions
shall remain in the Stock Purchase Account of the Participating Withholding Employee and be applied on the Investment Date for that Offering
in accordance with Paragraph 8 of the Plan. If a Participating Withholding Employee so elects to cease to actively participate in the
Plan through Payroll Deductions during any Offering after the last Paycheck from which Payroll Deductions are applied during such Offering
and with respect to the first Paycheck from which Payroll Deductions are applied during the next Offering, all in accordance with subparagraph
6(c)(ii)&nbsp;above, then the Participating Withholding Employee shall be deemed to have made an election in accordance with subparagraph
6(c)(viii)&nbsp;above to decrease his or her Payroll Deductions to zero for the next Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>General</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Election
Forms</U>. Deposit Elections and Withholding Elections shall be referred to collectively for purposes of the Plan as &ldquo;<B>Election
Forms</B>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Inactive
Participating Employee</U>. Any Participating Employee who does not have on file with his or her Paymaster an effective Election Form&nbsp;shall
be referred to for purposes of the Plan as an &ldquo;<B>Inactive Participating Employee</B>&rdquo;. Any Inactive Participating Employee
may elect to actively participate in the Plan by completing an effective Election Form&nbsp;in accordance with subparagraph 6(b)(i)&nbsp;or
6(c)(i), as appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Death,
Retirement and Termination of Employment</U>. In the event of a Participating Employee&rsquo;s death, retirement or termination of employment,
such Participating Employee shall immediately be deemed to have ceased to be an Eligible Employee and, accordingly, he or she shall cease
to actively participate in the Plan through Payroll Deductions and Deposits and he or she shall be deemed to have authorized his or her
Employer to discontinue his or her Payroll Deductions and to cancel his or her enrollment in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iv)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Reenrollment
or Ending Inactive Participation</U><FONT STYLE="color: #1C1C1C">. </FONT>Any Eligible Employee whose enrollment in the Plan has been
canceled or who has ceased to actively participate in the Plan for any reason may elect to enroll in the Plan or continue to actively
participate in the Plan, as appropriate, with respect to any subsequent Offering as provided in subparagraph 6(a)(i), 6(b)(i)&nbsp;or
6(c)(i)&nbsp;above, as appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>7.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Stock
Purchase Accounts</B>. For purposes of the Plan, &ldquo;<B>Stock Purchase Account</B>&rdquo; means for each Participating Employee a non-interest
bearing account consisting of all Payroll Deductions and Deposits made for the account of the Participating Employee under the Plan, reduced
by all amounts applied to the purchase of Common Stock for such Participating Employee pursuant to Paragraph 8 of the Plan and all amounts
returned to the Participating Employee (or his or her court appointed legal representative) pursuant to this Paragraph 7 or Paragraph
6(b)(v)(B)&nbsp;of <FONT STYLE="color: #1C1C1C">the </FONT>Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Minimum/Maximum
Allowable Deposits and Payroll Deductions</U>. The minimum allowable amount that can be deposited to the Stock Purchase Account of a Participating
Employee during any single Offering, whether by a Deposit and/or Payroll Deductions, is U.S. $50.00 or any amount determined by the Committee.
The maximum allowable amount that can be deposited to the Stock Purchase Account of a Participating Employee during any single Offering,
whether by a Deposit and/or Payroll Deductions, is equal to the lesser of (i)&nbsp;an amount that would purchase 2,000 shares of Common
Stock or (ii)&nbsp;an amount that would not exceed the limits contained in 7(d)&nbsp;or 7(e)&nbsp;below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Deposits</U>.
Subject to Paragraph 6(b)(v)(B)&nbsp;of the Plan, each Deposit shall be credited on behalf of a Participating Employee on the date of
receipt by the Paymaster of the Deposit. Each Payroll Deduction shall be credited on behalf of a Participating Withholding Employee on
the date of the Paycheck to which the Payroll Deduction relates. Each Payroll Deduction and Deposit shall be credited on the records of
each Employer to the Stock Purchase Account in the name of the Participating Employee authorizing the Payroll Deduction or Deposit as
soon as practicable after each Investment Date. Such credit shall constitute only a convenient bookkeeping entry by the Employer and no
interest will be paid or due on any money credited to such Participating Employee&rsquo;s Stock Purchase Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Inactive
Status: Failure to Invest</U>. If a Participating Employee elects to cease to actively participate in the Plan or to be enrolled as a
Participating Employee under the Plan, then the entire amount standing to the Participating Employee&rsquo;s credit in his or her Stock
Purchase Account on the effective date of such occurrence shall be used to purchase shares of Common Stock on the Investment Date during
the Offering during which such event occurs in accordance with Paragraph 8 of the Plan. If for any reason the Company does not invest
on any Investment Date any amount standing to the credit of a Participating Employee in his or her Stock Purchase Account, then the entire
amount standing to the Participating Employee&rsquo;s credit in his or her Stock Purchase Account on the effective date of such occurrence
shall be used to purchase shares of Common Stock on the next succeeding Investment Date in accordance with Paragraph 8 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Annual
Limit of U.S. $25,000</U>. If any Participating Employee becomes subject to the limitations of Paragraph 9(a)&nbsp;of the Plan, then the
amount in excess of those limitations standing to the credit of such Participating Employee in his or her Stock Purchase Account on the
effective date of such occurrence shall be returned by his or her Employer to the Participating Depositing Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(e)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Five
Percent Limitations: Ineligible Employees</U>. If any Participating Employee becomes subject to the limitations of Paragraph 9(b)(ii)&nbsp;of
the Plan, then the entire amount standing to the credit of such Participating Employee in his or her Stock Purchase Account shall be returned
to such Participating Employee (or his or her court appointed legal representative) after the Investment Date on which the safe-harbor
provisions of Paragraph 9(b)(ii)&nbsp;of the Plan are applied with respect to the Participating Employee&rsquo;s rights under Paragraph
8(a)&nbsp;of the Plan. If on or before the tenth (10th) Business Day prior to any Investment Date, any Participating Employee ceases to
be an Eligible Employee for any reason, including, without limitation, upon his or her death or retirement or termination of his or her
employment, then the entire amount standing to the credit of such Participating Employee in his or her Stock Purchase Account shall be
returned to such Participating Employee (or his or her court appointed legal representative).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(f)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Maximum
Number of Shares</U>. Except as specifically provided to the contrary in the Plan, if the Participating Employees shall have purchased
the maximum number of shares of Common Stock available under the Plan and all rights of the Participating Employees are to be terminated
pursuant to Paragraph 16(a)&nbsp;of the Plan, each Participating Employee shall be refunded any excess balance standing to his or her
credit in his or her Stock Purchase Account on the effective date of the termination of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(g)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Merger,
Consolidation, Dissolution or Liquidation</U>. In the event of a dissolution or liquidation of the Company, or of a merger or consolidation
in which the Company is not the surviving or resulting corporation, the Plan and any Offering hereunder shall terminate upon the effective
date of such dissolution, liquidation, merger or consolidation, and the balance then standing to the credit of each Participating Employee
in his or her Stock Purchase Account shall be returned to him or her.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>8.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Investment
of Moneys in Stock Purchase Accounts to Purchase Common Stock: Investment Accounts</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Right
to Purchase on an Investment Date</U>. Subject to Paragraphs 9(b)(ii)&nbsp;and 9(d)&nbsp;of the Plan, as of each Investment Date each
Participating Employee and each other Eligible Employee shall have the right to purchase the number of whole shares and fractional shares
(computed to four decimal places) of Common Stock determined by dividing (i)&nbsp;the entire amount credited on behalf of the Participating
Employee in his or her Stock Purchase Account by (ii)&nbsp;the Purchase Price (as defined in subparagraph 8(c)(ii)&nbsp;below). Each Participating
Employee and each other Eligible Employee having a positive balance in his or her Stock Purchase Account as of an Investment Date shall
be deemed, without any further action, to have elected to purchase, and the Employer shall cause to be purchased, with such balance the
number of whole shares and fractional shares (computed to four decimal places) that the Eligible Employee has the right to purchase at
the Purchase Price on that Investment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Investment
Accounts</U>. All whole and fractional shares of Common Stock purchased under the Plan shall be held in separate investment accounts (&ldquo;<B>Investment
Accounts</B>&rdquo;) maintained by such brokerage house, investment banking firm, commercial bank or other such similar institution as
may be selected by the Committee for the Participating Employees. If a Participating Employee shall cease to be a Participating Employee
without ceasing to be an Eligible Employee, his or her Investment Account shall remain open for his or her benefit in accordance with
the Plan, except as otherwise determined by the Committee. All cash dividends paid with respect to the whole and fractional shares in
an Eligible Employee&rsquo;s Investment Account shall be credited to his or her Stock Purchase Account and reinvested on the day after
it is paid at the fair market value of a share of Common Stock on that date. The effect on an Eligible Employee&rsquo;s Investment Account
of such Eligible Employee ceasing to be an Eligible Employee, including, without limitation, upon termination of his or her employment
or death, shall be determined by the Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Definitions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Investment
Date</U>. For purposes of the Plan, &ldquo;<B>Investment Date</B>&rdquo; shall mean the last Friday of each offering period or, if such
Friday is not a Business Day, the next preceding Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Purchase
Price</U>. The purchase price for each share of Common Stock purchased pursuant to the Plan on any Investment Date (the &ldquo;<B>Purchase
Price</B>&rdquo;) shall be equal to the lesser of (A)&nbsp;the greater of (1)&nbsp;eighty-five percent (85%) of the average of the Fair
Market Values on the Grant Date and the Investment Date and the last Friday of each month within the Offering of one share of Common Stock
or (2)&nbsp;eighty-five percent (85%) of the Fair Market Value of one share of Common Stock on the Grant Date, or (B)&nbsp;eighty-five
percent (85%) of the Fair Market Value of one share of Common Stock on the Investment Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Fair
Market Value</U>. For purposes of the Plan, &ldquo;<B>Fair Market Value</B>&rdquo; of a share of Common Stock means the last price of
a share of Common Stock on the NYSE Composite Tape on the date in question (or if such day is not a Business Day, the Business Day immediately
prior thereto); <U>provided, however</U>, that if shares of Common Stock are not listed on the NYSE on such date, &ldquo;<B>Fair Market
Value</B>&rdquo; of a share of Common Stock shall be determined by the Committee in its sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Deemed
Grant of Options</U>. For purposes of section 423 of the Code and the Regulations, the Company shall be deemed to have granted to each
Participating Employee an option to purchase shares of Common Stock on the first day of each Offering, which option shall be deemed for
such purposes to be exercised, if at all, on the Investment Date for such Offering. Such option shall not be transferable by the Participating
Employee except as permitted by Paragraph 10 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>9.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Limitation
of Number of Shares That an Employee May&nbsp;Purchase</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Annual
Limit of U.S. $25,000</U>. No Participating Employee may be granted an option under the Plan that permits the employee&rsquo;s rights
to purchase shares under all employee stock purchase plans of the Company, its Subsidiaries or any parent corporation of the foregoing
to accrue at a rate that exceeds $25,000 of fair market value of such shares (determined at the time such option is granted) for each
calendar year in which such option is outstanding at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><FONT STYLE="color: #2D2D2D"><U>Limitation
</U></FONT><U>of Five <FONT STYLE="color: #2D2D2D">Percent </FONT>Voting Power</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(i)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Five
Percent Holder</U>. For purposes of the Plan, a &ldquo;<B>Five Percent Holder</B>&rdquo; means a Participating Employee who, for the purposes
of section 423(b)(3)&nbsp;of the Code, immediately after a right to purchase shares is granted to him or her under the Plan, owns or would
be deemed to own stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company,
any Subsidiary, or any parent corporation of the foregoing. When making this determination, the rules&nbsp;of section 424(d)&nbsp;of the
Code will apply, and shares that the employee may purchase under outstanding options (whether issued under the plan or otherwise) are
treated as owned by the employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(ii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Safe
Harbor Purchase Limitations</U>. Notwithstanding anything in the Plan to the contrary, if on any Investment Date, as a result of the application
of the entire amount standing to the credit of any Participating Employee in his or her Stock Purchase Account to purchase shares of Common
Stock in accordance with Paragraph 8(a)&nbsp;of the Plan, a Participating Employee would be deemed for the purposes of section 423(b)(3)&nbsp;of
the Code to own stock (including any number of shares of Common Stock that such Participating Employee would be entitled to purchase under
the Plan) possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company, any
Subsidiary, or any parent corporation of the foregoing, and, thus, as a Five Percent Holder would otherwise no longer be an Eligible Employee,
the maximum number of shares of Common Stock that such Participating Employee shall be entitled to Purchase pursuant to Paragraph 8(a)&nbsp;of
the Plan shall be reduced to that number which, when added to the number of shares of stock of the Company that such Participating Employee
is deemed to own in accordance with the foregoing (excluding any number of shares that such Participating Employee would be otherwise
entitled to Purchase under the Plan) is one share less than five percent (5%) of the total combined voting power or value of all classes
of stock of the Company, any Subsidiary or any parent corporation of the foregoing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"><FONT>(iii)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Determination
of Stock Ownership</U>. In determining stock ownership of an Employee under this subparagraph 9(b), (A)&nbsp;the rules&nbsp;of sections
423(b)(3)&nbsp;and 424(d)&nbsp;of the Code shall apply in determining whether stock of the Company, any Subsidiary or any parent corporation
of the foregoing, that an Employee may purchase under all other outstanding rights to purchase such stock shall be treated as stock owned
by the Employee and (B)&nbsp;the Company shall be deemed to have granted to each Participating Employee who is not an Inactive Participating
Employee an option to purchase shares of Common Stock on be first day of each Offering, which option shall be deemed for such purposes
to be exercised, if at all, on the Investment Date of such Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Effect
on Eligibility</U>. If any Participating Employee becomes subject to the limitations of subparagraph 9(a)&nbsp;or if the number of shares
of stock of the Company that a Participating Employee is deemed to own in accordance with subparagraph 9(b)(ii)&nbsp;above is one share
less than five percent (5%) of the total combined voting power or value of all classes of stock of the Company or any Subsidiary, such
Participating Employee shall continue to be considered an Eligible Employee; provided, however, that such Participating Employee shall
be deemed to have involuntarily ceased to actively participate in the Plan effective on the effective date of such event, in which event
he or she shall be deemed for purposes of the Plan to be an Inactive Participating Employee; and provided further, however, that such
Inactive Participating Employee may elect to continue to actively participate in the Plan in accordance with Paragraph 6(b)(i)&nbsp;or
6(c)(i)&nbsp;of the Plan, as appropriate, as of the next succeeding Offering on the first day on which he or she would be eligible to
purchase at least one share of Common Stock pursuant to subparagraphs 9(a)&nbsp;and 9(b)(ii). Notwithstanding the foregoing and the safe
harbor procedures established by subparagraph 9(b)(ii)&nbsp;above, if any Participating Employee shall become a Five Percent Holder, he
or she shall cease to be an Eligible Employee and shall be deemed to have elected to cease to be enrolled in the Plan, effective at 12:01
a.m., Miami, Florida time, as of the day after the Investment Date for the Offering during which the event causing the Participating Employee
to become a Five Percent <FONT STYLE="color: #0E0E0E">Holder shall have occurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(d)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Insufficient
Number of Shares</U>. In the event that the Plan is to be terminated pursuant to Paragraph 16(a)&nbsp;because there are an insufficient
number of shares of Common Stock available for purchase, reserved shares remaining as of the termination date shall be issued to Participating
Employees in accordance with subparagraph 9(a)&nbsp;above on a pro-rata basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>10.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Rights
Not Transferable</B>. No rights granted under the Plan shall be transferrable by an Eligible Employee or a Participating Employee in any
manner other than by will or the laws of descent and distribution and, during the lifetime of the person to whom such rights are granted,
may be exercised only by an Eligible Employee or a Participating Employee (or his or her court appointed legal representative), as appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>11.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Adjustment
upon Changes in Capitalization: Effects of Certain Transactions</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Changes
in Capitalization</U>. In order to prevent the dilution or enlargement of rights granted under the Plan, in the event of a reorganization,
recapitalization, stock split, stock dividend, combination of shares, merger, consolidation or other change in the Common Stock, the Committee
shall make appropriate changes in the number and type of shares authorized by the Plan, the number and type of shares covered by, or with
respect to which payments are measured under, outstanding rights and prices specified therein, subject to the limitations of section 424
of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Effect
of Merger. Consolidation, Dissolution or Liquidation</U>. Subject to any required action by the stockholders and subject to Paragraph
7(g)&nbsp;of the Plan, if the Company shall be the surviving or resulting corporation in any merger or consolidation, or if the Company
shall be merged for the purpose of changing the jurisdiction of its incorporation, any Offering hereunder shall pertain to and apply to
the shares of stock of the Company or the survivor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>12.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Share
Ownership</B>. The shares of Common Stock purchased by a Participating Employee on an Investment Date shall, for all purposes, be deemed
to have been issued and/or sold when the Transfer Agent of the Company actually records such purchase on the share records of the Company.
Prior to that time, none of the rights of a shareholder of the Company with respect to such shares shall inure to the benefit of the Participating
Employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: #0E0E0E">Notwithstanding the
foregoing, effective for shares of Common Stock acquired on or after July&nbsp;1, 1999, a Participating Employee shall be precluded from
selling or otherwise alienating or assigning the shares of Common Stock purchased by a Participating Employee on an Investment Date until
one year from such Investment</FONT> <FONT STYLE="color: #0A0A0A">Date. Such restriction shall not apply in the case of death or disability
of the Eligible Employee. In addition, such restriction shall not apply to any Common Stock purchased with cash dividends paid with respect
to whole and fractional shares in an Eligible Employee&rsquo;s Investment Account pursuant to <U>Section&nbsp;8(a)</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; color: #0A0A0A">In addition, a Participating Employee
may request the issuance of certificates representing shares of Common Stock granted under the Plan, or request a transfer of such shares
from the Participating Employee&rsquo;s Investment Account only if the shares of Common Stock have been held by the Participating Employee
for two years from the Offering of such shares and the Participating Employee pays any fees associated with the issuance of certificates
or transfer of such shares. Nothing in the preceding sentence shall preclude a Participating Employee from selling such shares of Common
Stock if permitted under the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>13.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Right
to Terminate Employment</B>. Nothing in the Plan shall confer upon any Eligible Employee the right to continue in the employment of any
Employer or affect the right of any Employer to terminate the Eligible Employee&rsquo;s employment at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>14.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Nonalienation
of Benefits</B>. No right or benefit under the Plan shall be subject to anticipation, alienation, sale, assignment, hypothecation, pledge,
exchange, transfer, encumbrance or charge, and any attempt to anticipate, alienate, sell, assign, hypothecate, pledge, exchange, transfer,
encumber or charge the same shall be void. To the extent permitted by applicable law, no right or benefit under the Plan shall in any
manner be liable for or subject to the debts, contracts, liabilities or torts of the person entitled to such benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>15.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Purchase
for Investment</B>. Whether or not the shares of Common Stock covered by the Plan have been registered under the Securities Act of 1933,
as amended, each Participating Employee may be required by the Company to give a representation in writing that such Participating Employee
is acquiring such shares for investment and not with a view to, or for sale in connection with, the distribution of any part thereof.
The Company will endorse any necessary legend referring to the foregoing restriction upon any certificate or certificates representing
any shares of Common Stock issued or transferred to the Participating Employee upon the exercise of any purchase rights granted under
the Plan or at any time thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>16.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Termination
and Amendment of Plan</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(a)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Insufficient
Number of Shares</U>. Unless the Plan shall theretofore have been terminated as hereinafter provided, the Plan and all rights of Eligible
Employees hereunder may be suspended or terminated at any time at the discretion of the Board of Directors and shall terminate at 11:59
p.m., on the Investment Date that Participating Employees become entitled to purchase a number of shares of Common Stock greater than
the number of reserved shares available for purchase pursuant to Paragraph 3 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(b)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Termination
by the Board of Directors</U>. The Plan may be terminated or amended at any time by the Board of Directors; <U>provided, however</U>,
that any such amendment shall comply with all applicable laws (including section 423 of the Code), applicable stock exchange listing requirements,
and applicable requirements for exemption (to the extent necessary) under Rule&nbsp;16b-3 under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT>(c)<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></FONT><U>Effect
of Termination of Plan on Participating Employees</U>. No termination, modification or amendment of the Plan, without the consent of any
Participating Employee, may adversely affect the rights of such Participating Employee that is specified in the Plan with respect to his
or her right to withdraw any shares of Common Stock held in his or her Investment Account or to withdraw or invest any balance then standing
to the credit of the Participating Employee in his or her Stock Purchase Account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>17.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Government
and Other Regulations</B>. The obligation of the Company with respect to rights under the Plan shall be subject to all applicable laws,
rules&nbsp;and regulations and such approvals by and governmental agency as may be required, including, without limitation, the effectiveness
of any registration statement required under the Securities Act of 1933, as amended, and the rules&nbsp;and regulations of the NYSE or
any other securities exchange on which the Common Stock may be listed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>18.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Withholding</B>.
The Company&rsquo;s obligation to deliver shares of Common Stock under the Plan shall be subject to all applicable foreign or United States
federal, state and local tax withholding requirements. Any such federal, state and local withholding tax due upon any disqualifying disposition
of shares of Common Stock purchased under the Plan, in the Committee&rsquo;s sole discretion, may be paid in shares of Common Stock (including
the withholding of shares subject to purchase under the Plan) upon such terms and conditions as the Committee may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>19.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Severability</B>.
If any of the terms or provisions of the Plan conflict with the requirements of Rule&nbsp;16b-3 under the Exchange Act and/or section
423 of the Code, then such terms or provisions shall be deemed inoperative to the extent they so conflict with the requirements of Rule&nbsp;16b-3
and/or section 423 of the Code, <U>provided, however</U>, that if the Board of Directors shall have made a determination that the Plan
shall not be administered in a manner consistent with Rule&nbsp;16b-3, as provided in Paragraph 2 hereof, this Paragraph shall not apply
with respect to the requirements of Rule&nbsp;16b-3. If the Plan does not contain any provision required to be included herein under section
423 of the Code, such provision shall be deemed to be incorporated herein with the same force and effect as if such Provision had been
set out at length herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>20.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Non-Exclusivity
of the Plan</B>. Neither the adoption of the Plan by the Board of Directors or by any Subsidiary nor the submission of the Plan to the
shareholders of the Company for approval shall be construed as creating any limitation on the power of the Board of Directors or any Subsidiary
to adopt such other incentive arrangements as it may deem desirable, including, without limitation, the granting of stock options and
the awarding of stock and cash otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only
in specific cases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>21.<FONT STYLE="font-size: 10pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT></B></FONT><B>Governing
Law</B>. The Plan shall be governed by, and construed in accordance with, the laws of the State of Florida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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              <xbrli:endDate>2025-06-25</xbrli:endDate>
            </xbrli:period>
          </xbrli:context>
          <xbrli:context id="offrl_1">
            <xbrli:entity>
              <xbrli:identifier scheme="http://www.sec.gov/CIK">0000815097</xbrli:identifier>
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                  <dei:lineNo>1</dei:lineNo>
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              <xbrli:startDate>2025-06-25</xbrli:startDate>
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              <xbrli:startDate>2025-06-25</xbrli:startDate>
              <xbrli:endDate>2025-06-25</xbrli:endDate>
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            <xbrli:measure>iso4217:USD</xbrli:measure>
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            <xbrli:measure>xbrli:pure</xbrli:measure>
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            <xbrli:measure>xbrli:shares</xbrli:measure>
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    <div>
      <table style="width: 99%; font-family: Arial, Helvetica, sans-serif; font-size: 20pt; text-align: center;">
        <tr>
          <td colspan="4" style="padding-bottom: .5em">
            <p>
              <b>Calculation of Filing Fee Tables</b>
            </p>
          </td>
        </tr>
        <tr>
          <td style="padding-bottom: .25em">
            <p>
              <b>
                <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-209">S-8</ix:nonNumeric>
              </b>
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        <tr>
          <td style="padding-bottom: .25em">
            <p>
              <b>
                <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-210">CARNIVAL CORP</ix:nonNumeric>
              </b>
            </p>
          </td>
        </tr>
      </table>
    </div>
    <div style="padding-bottom: 20px;">
      <table style="float: center; width: 100%; text-align: left;  ">
        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
          <th style="vertical-align: bottom; text-align: center; width: 90%; word-wrap: break-word">
            <p style="margin: 0pt; text-align: center;">
              <b>Table 1: Newly Registered Securities</b>
            </p>
          </th>
        </tr>
      </table>
      <table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 90%; text-align: center;  border: 1px solid black; margin-left: auto; margin-right: auto;">
        <tr style="background-color:#9ADAF6">
          <th style="width: 2%;">
            <!-- BLANK -->
          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Security Type</b>
            </p>
          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Security Class Title </b>
            </p>
          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Fee Calculation Rule</b>
            </p>
          </th>
          <th style="width: 10%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Amount Registered</b>
            </p>
          </th>
          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Proposed Maximum Offering Price Per Unit</b>
            </p>
          </th>
          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Maximum Aggregate Offering Price</b>
            </p>
          </th>
          <th style="width: 3%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Fee Rate</b>
            </p>
          </th>
          <th style="width: 15%;">
            <p style="margin: 0pt; text-align: center;">
              <b>Amount of Registration Fee</b>
            </p>
          </th>
        </tr>
        <tr style="background-color:#E7E7E2">
          <td style="text-align: center;">
		1
	</td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_1" id="ixv-211">Equity</ix:nonNumeric>
          </td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_1" id="ixv-212">Carnival Corporation common stock, par value $0.01 per share (Common Stock), to be issued under the Carnival Corporation 1993 Employee Stock Purchase Plan, as amended </ix:nonNumeric>
          </td>
          <td style="text-align: center;">
            <ix:nonNumeric name="ffd:FeesOthrRuleFlg" contextRef="offrl_1" format="ixt:booleantrue" id="ixv-213">Other</ix:nonNumeric>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:AmtSctiesRegd" unitRef="Shares" decimals="0" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-214">4,000,000</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:MaxOfferingPricPerScty" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-215">23.34</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:MaxAggtOfferingPric" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-216">93,360,000.00</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-217">0.0001531</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:FeeAmt" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-218">14,293.42</ix:nonFraction>
          </td>
        </tr>
        <tr style="background-color:#E7E7E2">
          <td style="text-align: center;">
		2
	</td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_2" id="ixv-219">Equity</ix:nonNumeric>
          </td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_2" id="ixv-220">Carnival plc, special voting share, (pound) 1.00 par value </ix:nonNumeric>
          </td>
          <td style="text-align: center;">
            <ix:nonNumeric name="ffd:Rule457aFlg" contextRef="offrl_2" format="ixt:booleantrue" id="ixv-221">457(a)</ix:nonNumeric>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:AmtSctiesRegd" unitRef="Shares" decimals="0" format="ixt:numdotdecimal" contextRef="offrl_2" id="ixv-222">1</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:MaxOfferingPricPerScty" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_2" id="ixv-223">1.35</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:MaxAggtOfferingPric" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_2" id="ixv-224">1.35</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_2" id="ixv-225">0.0001531</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:FeeAmt" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_2" id="ixv-226">0.00</ix:nonFraction>
          </td>
        </tr>
        <tr style="background-color:#E7E7E2">
          <td style="text-align: center;">
		3
	</td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_3" id="ixv-227">Equity</ix:nonNumeric>
          </td>
          <td style="text-align: left;">
            <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_3" id="ixv-228">Trust shares of beneficial interest in P&amp;O Princess Special Voting Trust </ix:nonNumeric>
          </td>
          <td style="text-align: center;">
            <ix:nonNumeric name="ffd:FeesOthrRuleFlg" contextRef="offrl_3" format="ixt:booleantrue" id="ixv-229">Other</ix:nonNumeric>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:AmtSctiesRegd" unitRef="Shares" decimals="0" format="ixt:numdotdecimal" contextRef="offrl_3" id="ixv-230">4,000,000</ix:nonFraction>
          </td>
          <td style="text-align: right;">

	</td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:MaxAggtOfferingPric" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_3" id="ixv-231">0.00</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_3" id="ixv-232">0.0001531</ix:nonFraction>
          </td>
          <td style="text-align: right;">
            <span>$</span>
            <ix:nonFraction name="ffd:FeeAmt" unitRef="USD" decimals="INF" format="ixt:numdotdecimal" contextRef="offrl_3" id="ixv-233">0.00</ix:nonFraction>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top">
            <p style="margin: 0pt; text-align: right">Total Offering Amounts:</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td style="vertical-align: top; width: 16%;">
            <p id="MaxAggtOfferingPrice" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:TtlOfferingAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-234">93,360,001.35</ix:nonFraction>
            </p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td style="vertical-align: top; border-bottom: 1px black; width: 16%;">
            <p id="TotalFeeAmt" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:TtlFeeAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-235">14,293.42</ix:nonFraction>
            </p>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top">
            <p style="margin: 0pt; text-align: right">
					Total Fee Offsets:
				</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td style="vertical-align: top">
            <p id="TotalOffsetAmt" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:TtlOffsetAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-236">0.00</ix:nonFraction>
            </p>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top">
            <p style="margin: 0pt; text-align: right">
					Net Fee Due:
				</p>
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td>
            <!-- BLANK -->
          </td>
          <td style="vertical-align: top">
            <p id="NetFeeAmt" style="margin: 0pt; text-align: right">
              <span>$</span>
              <ix:nonFraction name="ffd:NetFeeAmt" contextRef="rc" decimals="INF" format="ixt:numdotdecimal" unitRef="USD" id="ixv-237">14,293.42</ix:nonFraction>
            </p>
          </td>
        </tr>
      </table>
    </div>
    <div>
      <table style="width: 100%; text-indent: 0px;">
        <tbody>
          <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
            <td>
              <p style="margin:0pt;text-align:left; margin-bottom: 5px;">
                <b>Offering Note</b>
              </p>
            </td>
            <td/>
          </tr>
        </tbody>
      </table>
    </div>
    <div style="padding-bottom: 20px;">
      <table style="width: 100%; text-indent: 0px;">
        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
          <td style="width:10pt;">
            <p style="margin:0pt;text-align:left;">
              <sup style="vertical-align:top;line-height:120%;font-size:10px">1</sup>
            </p>
          </td>
          <td colspan="7" style="white-space: pre-line;">
            <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_1" id="ixv-238">(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
</ix:nonNumeric>
          </td>
        </tr>
        <tr>
          <td style="width:10pt;"/>
          <td colspan="7">
            <hr style="width:100%;text-align:left;margin-left:0"/>
          </td>
        </tr>
        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
          <td style="width:10pt;">
            <p style="margin:0pt;text-align:left;">
              <sup style="vertical-align:top;line-height:120%;font-size:10px">2</sup>
            </p>
          </td>
          <td colspan="7" style="white-space: pre-line;">
            <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_2" id="ixv-239">(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
</ix:nonNumeric>
          </td>
        </tr>
        <tr>
          <td style="width:10pt;"/>
          <td colspan="7">
            <hr style="width:100%;text-align:left;margin-left:0"/>
          </td>
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        <tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
          <td style="width:10pt;">
            <p style="margin:0pt;text-align:left;">
              <sup style="vertical-align:top;line-height:120%;font-size:10px">3</sup>
            </p>
          </td>
          <td colspan="7" style="white-space: pre-line;">
            <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_3" id="ixv-240">
(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
</ix:nonNumeric>
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          <td style="width:10pt;"/>
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<html>
<head>
<title></title>
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Jun. 25, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0000815097<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">CARNIVAL CORP<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">S-8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings<br></strong></div></th>
<th class="th">
<div>Jun. 25, 2025 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=1', window );">Offering: 1</a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesOthrRuleFlg', window );">Other Rule</a></td>
<td class="text">true<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Carnival Corporation common stock, par value $0.01 per share (Common Stock), to be issued under the Carnival Corporation 1993 Employee Stock Purchase Plan, as amended <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_AmtSctiesRegd', window );">Amount Registered | shares</a></td>
<td class="nump">4,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxOfferingPricPerScty', window );">Proposed Maximum Offering Price per Unit</a></td>
<td class="nump">23.34<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 93,360,000.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 14,293.42<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=2', window );">Offering: 2</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457aFlg', window );">Rule 457(a)</a></td>
<td class="text">true<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Carnival plc, special voting share, (pound) 1.00 par value <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_AmtSctiesRegd', window );">Amount Registered | shares</a></td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxOfferingPricPerScty', window );">Proposed Maximum Offering Price per Unit</a></td>
<td class="nump">1.35<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 1.35<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingAxis=3', window );">Offering: 3</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
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<tr class="ro">
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<td class="text">true<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Trust shares of beneficial interest in P&O Princess Special Voting Trust <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_AmtSctiesRegd', window );">Amount Registered | shares</a></td>
<td class="nump">4,000,000<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_MaxAggtOfferingPric', window );">Maximum Aggregate Offering Price</a></td>
<td class="nump">$ 0.00<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01531%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeAmt', window );">Amount of Registration Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">
(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
(3)	Represents one special voting share of Carnival plc issued to and held by the P&amp;O Princess Special Voting Trust in connection with the dual listed company transaction completed by Carnival plc and Carnival Corporation on April 17, 2003.
(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
(7)	Upon each issuance of shares of Common Stock in connection with the Carnival Corporation 1993 Employee Stock Purchase Plan, participants will receive both shares of Common Stock and an equivalent number of trust shares (which represent a beneficial interest in the special voting share of Carnival plc).
(8)	Includes an indeterminate number of trust shares that may be issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_AmtSctiesRegd">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of securities being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_AmtSctiesRegd</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegativeDecimal2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of registration fee (amount due after offsets).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesOthrRuleFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesOthrRuleFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_MaxAggtOfferingPric">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum aggregate offering price for the offering that is being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_MaxAggtOfferingPric</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative100TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_MaxOfferingPricPerScty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum offering price per share/unit being registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_MaxOfferingPricPerScty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<td><strong> Data Type:</strong></td>
<td>ffd:nonNegativeDecimal4lItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457aFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Checkbox indicating whether filer is using Rule 457(a) to calculate the registration fee due.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457aFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<title></title>
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<span style="display: none;">v3.25.2</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Jun. 25, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesSummaryLineItems', window );"><strong>Fees Summary [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOfferingAmt', window );">Total Offering</a></td>
<td class="nump">$ 93,360,001.35<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlFeeAmt', window );">Total Fee Amount</a></td>
<td class="nump">14,293.42<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOffsetAmt', window );">Total Offset Amount</a></td>
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(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
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(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
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(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
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(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
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(1)	Pursuant to Rule 416 of the Securities Act of 1933 (the "Securities Act"), this Registration Statement on Form S-8 also includes additional shares of Common Stock in respect of the securities identified in the above table that may become issuable as a result of adjustments for stock splits, stock dividends and similar transactions.
(2)	Estimated solely for purposes of calculating the registration fee, pursuant to paragraphs (c) and (h) of Rule 457 under the Securities Act, on the basis of the average of the high and low sale prices of the shares of common stock of Carnival Corporation on the New York Stock Exchange on June 23, 2025, within five business days prior to filing.
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(4)	Based on an exchange rate of US $1.35 = (pound) GBP1.00 as of June 23, 2025.
(5)	The filing fee with respect to this share is less than $0.01.
(6)	Represents trust shares of beneficial interest in the P&amp;amp;O Princess Special Voting Trust.  In connection with the dual-listed company transaction, one trust share is paired with each share of Common Stock on a one-for-one basis and is not transferable separately from the share of Common Stock.
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(9)	Participants in the Carnival Corporation 1993 Employee Stock Purchase Plan will not pay any separate consideration in respect of the trust shares and Carnival plc will not receive any cash or other consideration in respect of the trust shares.  Accordingly, no registration fee is payable in respect of the trust shares.
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