<SEC-DOCUMENT>0001104659-25-123284.txt : 20251219
<SEC-HEADER>0001104659-25-123284.hdr.sgml : 20251219
<ACCEPTANCE-DATETIME>20251219171155
ACCESSION NUMBER:		0001104659-25-123284
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251219
DATE AS OF CHANGE:		20251219

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15136
		FILM NUMBER:		251588505

	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>
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<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 138.8pt 0pt 138.4pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 138.8pt 0pt 138.4pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 138.7pt 0pt 138.4pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 138.7pt 0pt 138.95pt; text-align: center"><B>SCHEDULE 14A</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>14(a) of the Securities Exchange Act</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>of 1934 (Amendment No. )</B><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt"><FONT STYLE="font-size: 10pt">Filed by the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt"><FONT STYLE="font-size: 10pt"></FONT>Filed
by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%">Preliminary Proxy Statement</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Definitive Proxy Statement</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Definitive Additional Materials</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Soliciting Material Pursuant to &sect;240.14a-12</TD></TR>
  </TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name
of Registrant as Specified In Its Charter)</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; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 108.35pt 0pt 0.4pt; text-indent: 128.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-align: left">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; text-align: left">No fee required</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -25.25pt; padding-left: 25.65pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Fee paid previously with preliminary materials</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -25.25pt; padding-left: 25.65pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.4pt">The following is an excerpt relating to the proposed unification
and redomiciliation transactions taken from the transcript of Carnival Corporation and Carnival plc&rsquo;s joint earnings conference
call held on December 19, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 33.1pt; text-indent: -15.1pt">David Bernstein: I&rsquo;ll finish up with some comments on the recommended Simplification of our Corporate Structure:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-indent: -15.1pt">&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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We are recommending to our shareholders that we unify the dual-listed company
or DLC framework into a single company listed solely on the New York Stock Exchange. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -15.1pt">&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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">This aligns with the marketplace. We are aware of 15 Dual Listed Companies
or DLC&rsquo;s created over the last four decades, including our DLC in 2003. A substantial number of those have been unified in recent
years for many of the same reasons we are recommending our unification. Today, we know of only three other major DLC&rsquo;s remaining.
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.7pt; text-indent: -15.1pt">&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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under our plan, Carnival plc shareholders would receive Carnival Corporation
shares on a one-for-one basis, and Carnival plc shares and ADS&rsquo;s would be de-listed. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.7pt; text-indent: -15.1pt">&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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Carnival plc would become a wholly owned UK subsidiary of Carnival Corporation.
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.7pt; text-indent: -15.1pt">&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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">This would create a single global share price, streamline governance &amp;
reporting and reduce administrative costs. We believe it will also increase liquidity for stock trades and increase weighting of the stock
in major U.S. stock indexes.</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="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We intend to hold meetings of our shareholders in April to consider the recommendation.
Subject to shareholders approving our recommendation, we intend to complete the unification in the second quarter of 2026.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Question:
On the listing, presumed that there could be a couple of bucks of cost savings upfront and ongoing, thinking a few million dollars upfront
and maybe a few million as an ongoing, every little bit helps. Is that the neighborhood?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Answer: Yes, that&rsquo;s the neighborhood.
And the payback on this is very quick. It&rsquo;s just less than two years. And so we feel very good about the situation, and it also
streamlines reporting and simplifies governance and other things for us. So we feel very good about the decision, and we finally got
to it.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Information for Investors and Stockholders</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: justify">In connection with the proposed unification and
redomiciliation transactions, Carnival Corporation plans to file with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) a Registration
Statement on Form S-4, containing a Proxy Statement/Prospectus relating to the proposed transactions (collectively, the &ldquo;Proxy Statement&rdquo;),
and Carnival plc plans to file the Proxy Statement with the SEC. Investors and securityholders of Carnival Corporation and Carnival plc
are urged to read the Registration Statement, the Proxy Statement and any other relevant documents filed with the SEC when they are available,
because they contain, or will contain, important information about Carnival Corporation and Carnival plc, the proposed transactions and
related matters. The final Proxy Statement will be mailed to shareholders of Carnival Corporation and Carnival plc. Investors and securityholders
of Carnival Corporation and Carnival plc will be able to obtain copies of the Registration Statement and the Proxy Statement, when they
become available, as well as other filings with the SEC that will be incorporated by reference into such documents, containing information
about Carnival Corporation and Carnival plc, without charge, at the SEC&rsquo;s website (http://www.sec.gov). The release, publication
or distribution of this communication in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into
which this communication is released, published or distributed should inform themselves about and observe such restrictions. Any failure
to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No Offer or Solicitation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This communication does not constitute an offer
to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of
securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended. This communication shall not constitute or form the basis of, and should not
be relied on in connection with, any contract or investment decision in relation to the securities of Carnival Corporation or Carnival
plc or any other entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Participants in the Solicitation</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: justify">Carnival Corporation, Carnival plc and their respective
directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of
proxies from Carnival Corporation&rsquo;s and Carnival plc&rsquo;s shareholders in respect of the proposed transactions under the rules
of the SEC. Information regarding Carnival Corporation&rsquo;s and Carnival plc&rsquo;s directors and executive officers is available
in Carnival Corporation&rsquo;s and Carnival plc&rsquo;s joint Annual Report on Form 10-K for the year ended November 30, 2024 and Carnival
Corporation&rsquo;s and Carnival plc&rsquo;s joint proxy statement, dated February 28, 2025, for its 2025 annual meeting of stockholders,
which can be obtained free of charge through the website maintained by the SEC at http://www.sec.gov. Any changes in the holdings of Carnival
Corporation&rsquo;s securities by Carnival Corporation&rsquo;s directors or executive officers or Carnival plc&rsquo;s securities by Carnival
plc&rsquo;s directors or executive officers from the amounts described in Carnival Corporation&rsquo;s and Carnival plc&rsquo;s 2025 joint
proxy statement have been reflected in Statements of Change in Ownership on Form 4 filed with the SEC subsequent to the filing date of
Carnival Corporation&rsquo;s and Carnival plc&rsquo;s 2025 joint proxy statement and are available at the SEC&rsquo;s website at www.sec.gov.
Additional information regarding the interests of such participants will be included in the Registration Statement, the Proxy Statement
and other relevant materials to be filed with the SEC when they become available.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cautionary Statement Regarding Forward-Looking Information</B>&nbsp;</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 communication contains statements herein
regarding the proposed unification and redomiciliation transactions, future financial and operating results, benefits of the transactions
and any other statements about future expectations that constitute forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements
in this communication, other than statements of historical fact, are forward-looking statements that may be identified by the use of words
 &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;could,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo;
 &ldquo;may,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;target,&rdquo;
 &ldquo;will,&rdquo; &ldquo;would&rdquo; and, in each case, their negative or other various or comparable terminology. Such forward-looking
statements are based upon current beliefs, expectations and discussions related to the proposed unification and redomiciliation transactions
and are subject to significant risks and uncertainties that could cause actual results to differ materially from the results expressed
in such statements. There are a number of important factors that could cause actual results or events to differ materially from those
indicated by such forward looking statements, including: the ability to obtain governmental and court approvals of the transactions on
the proposed terms and schedule, the failure of Carnival Corporation and Carnival plc shareholders to approve the transactions, the effects
of industry, market, economic, political or regulatory conditions outside of the parties&rsquo; control and the parties&rsquo; ability
to achieve the benefits from the proposed transactions. Additional factors that may affect future results are contained in Carnival Corporation&rsquo;s
and Carnival plc&rsquo;s filings with the SEC, including Carnival Corporation&rsquo;s and Carnival plc&rsquo;s most recent joint Annual
Report on Form 10-K, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of
which are available at the SEC&rsquo;s website http://www.sec.gov. The information set forth herein speaks only as of the date hereof,
and, except to the extent legally required, any intention or obligation to update any forward-looking statements as a result of developments
occurring after the date hereof is hereby disclaimed.</P>

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

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

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</SEC-DOCUMENT>
