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Carnival Corporation Reports Record-Breaking First Quarter Results

Strong Demand Drives Revenue and Guest Cruise Operations

Miami, FL – January 21, 2023

Carnival Corporation plc (NYSE/LSE: CCL; NYSE: CUK) today announced record-breaking first quarter results for the period ended November 30, 2022. The company reported record first quarter revenues of $5.4 billion, representing an increase of nearly 80% compared to the third quarter of 2022. This growth was driven by record net yields in constant currency, reflecting strong demand for cruises.

As of the end of the quarter, Carnival Corporation had 50 ships in guest cruise operations, a significant increase from just one ship in 2020. This expansion reflects the company's recovery from the COVID-19 pandemic and its continued commitment to providing exceptional cruise experiences.

The company attributed the strong results to a combination of factors, including pent-up demand for travel, a favorable booking environment, and the easing of travel restrictions in many parts of the world. Carnival Corporation expects this momentum to continue in the future, with a full fleet of ships in guest cruise operations by the end of 2024.

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