TUI AG receives commitment of the German Federal Government for a KfW loan in the amount of € 1.8 billion

March 27, 2020

Ad Hoc Releases

Hanover, 27.03.2020, 17:36 CET. TUI AG has today received commitment of the German Federal Government for a €1.8 billion KfW loan to increase TUI's existing €1.75 billion credit agreement ("Revolving Credit Facility"). The KfW loan is subject to the approval of the banking consortium in regards to the necessary amendments of the Revolving Credit Facility. Thereby, TUI would have currently cash and available facilities of €3.1 billion. TUI decided to apply for the KfW loan to soften the unprecedented effects of the COVID 19 pandemic until normal business operations can be resumed.

One of the conditions of the KfW loan is that TUI de facto waives dividend payments for the term of the credit line.

TUI's Executive Board is continuously evaluating the impact on our operations from the development of the COVID 19 pandemic and is implementing a variety of actions to support our customers, colleagues and stakeholders. The health and safety of our customers and employees remain our top priority during these exceptional times.

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March 27, 2020