MIAMI, June 30, 2025 Carnival Corporation & plc today announced that Carnival plc (the "Company") commenced a private offering of new senior unsecured notes in an aggregate principal amount of €1.0 billion, expected to mature in 2031 (the "Notes"), to fully repay the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2027 and to repay a portion of the borrowings under Carnival Corporation's first-priority senior secured term loan facility maturing in 2028. In addition, the indenture that will govern the Notes is expected to have investment grade-style covenants.