Prior to entering its close period ahead of reporting its full year results for the twelve months ending 30 September 2024 on 11 December, TUI Group announces the following trading update:

• Positive booking momentum and a strong close to Summer 2024 leave us well positioned to reaffirm our FY24 guidance1 to increase Und. EBIT by at least 25% year-on-year
  • Markets + Airline remains well ahead with bookings² up +6% and ASP +3% for Summer 2024
  • Holiday Experiences continues to perform strongly, delivering in line with our upgraded expectations
• Promising start to Winter 2024/25 as consumers continue to prioritise spend for leisure experiences
  • Bookings in Markets + Airline² up +7% with ASP +5%, ahead across all our source markets, bolstered by stronger demand for dynamically packaged product
  • Holiday Experiences with solid start to H1 FY25, supported by asset-right growth strategy including our fleet expansion in TUI Cruises

• FY24 Guidance¹ – we continue to trade in line with management expectations and therefore reaffirm our guidance to increase underlying EBIT by at least 25% year-on-year (FY23: €977m)
• Mid-term ambitions – we have a clear strategy to accelerate profitable growth by increasing the customer lifetime value, creating a business which is more agile, more cost-efficient and achieving a higher speed to market with the aim to create additional shareholder value. We remain committed to delivering our mid-term ambitions which are as follows:
  • Generate underlying EBIT growth of c. +7-10% CAGR
  • Target net leverage³ strongly below 1.0x
  • Return to a credit rating territory in line with our pre-pandemic rating BB/Ba (S&P/Moody’s)