CARNIVAL PLC

Carnival Corporation & plc is the largest global cruise company and among the largest leisure travel companies. Carnival Corporation was incorporated in Panama in 1974, and Carnival plc was incorporated in England and Wales in 2000. The two companies operate as a single economic enterprise with a single executive management team and identical Boards of Directors, while retaining separate legal identities and stock exchange listings. The company's portfolio includes AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn. During 2025, the P&O Cruises (Australia) brand will be sunset, and its Australia operations will be folded into Carnival Cruise Line. The Boards of Directors of Carnival Corporation and Carnival plc recommended unifying the dual listed company under a single corporate entity, Carnival Corporation, listed solely on the New York Stock Exchange, with Carnival plc as its wholly-owned UK subsidiary. Under this plan, Carnival plc shareholders would receive Carnival Corporation shares on a one-for-one basis, and Carnival plc shares and American Depositary Receipts would be de-listed from both the London Stock Exchange and the New York Stock Exchange, respectively. Carnival Corporation also proposes shifting its legal incorporation from Panama to Bermuda under the name Carnival Corporation Ltd.