TUI disposes all remaining shares in Hapag-Lloyd AG

July 10, 2017

Ad Hoc Releases

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.

Hanover, 10 July 2017, 18:20 CEST. TUI AG agreed on the disposal of all its remaining shares (8.5m shares) in Hapag-Lloyd AG1 in an open market block trade (Accelerated Book Building) close to today’s market closing price, facilitated and backstopped. Prior to this trade TUI AG had already disposed 6.0m shares in individual open market transactions since March 2017.

As outlined in TUI’s full year results presentation in December 2016, the proceeds will be reinvested in the transformation of TUI as the world’s leading integrated tourism business, focused on own hotel and cruise brands, and to further strengthen TUI’s balance sheet. In this context, TUI AG is contemplating to structure the intended cruise ship acquisitions (currently operated as Mein Schiff 1 and Mein Schiff 2) by TUI UK from TUI Cruises GmbH (50% JV with RCCL) in 2018 and 2019 as a straight cash transaction.

TUI AG previously accounted for its shareholding in Hapag-Lloyd AG as a financial asset available for sale. As at 31 March 2017 the carrying value was €395.0m in TUI AG’s consolidated balance sheet.

By disposing of all of its remaining Hapag-Lloyd AG shares TUI AG successfully concludes its non-core business disposal program as defined after the merger between TUI AG and TUI Travel plc in December 2014, achieving its strategic objective to transform TUI AG into a pure play vertically integrated tourism group.

July 10, 2017

TUI disposes all remaining shares in Hapag-Lloyd AG

Ad Hoc Releases

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN.

This communication is not for publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan. This communication does not constitute or form part of an offer of securities for sale or solicitation of an offer to purchase securities in the United States, Canada, Australia, Japan or in any other jurisdiction in which such offer may be restricted. The securities referred to in this communication have not been, and will not be, registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States, except on the basis of an applicable exemption from the registration requirements or in a transaction not subject to the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

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TUI disposes all remaining shares in Hapag-Lloyd AG