Trend towards higher-value travel causes average prices and revenues to rise significantly / 1.4 billion euros cash flow in the fourth financial quarter of 2021 – second quarter in succession positive

• High-earning Group unit TUI Hotels & Resorts and TUI tour operators in the Central (Germany, Austria, Switzerland, Poland) and Western (Belgium, Netherlands, France) regions report positive quarterly earnings for the first time since the start of the pandemic
• Underlying Group EBIT close to break-even in Q4 on the basis of reduced capacities
• Significantly stronger cash inflow: cash flow before financing activities positive for the second consecutive quarter at 1.4 billion euros from July to September
• Q1 2022 programme with 93 per cent almost fully sold – currently 69 per cent of capacity of pre-crisis level achieved (Q1 2019)
• Successful transformation: global efficiency programme takes effect – around 60 per cent of the annual cost savings of 400 million euros announced from 2023 already achieved in 2021
• CEO Joussen: “We had a successful summer season after the relaunch. The overarching trends are intact. TUI's operating business is back and has recovered significantly in the last financial quarter of 2021. The first financial quarter of 2022 is already almost fully booked at 93 per cent. This means that we are currently at 69 per cent of the pre-crisis level capacities in the current quarter. We expect summer 2022 and the peak travel season to return to booking levels similar to pre-Corona 2019.”

TUI has taken another step out of the crisis with an almost balanced fourth financial quarter of 2021. Due to the successful resumption of the tourism business, TUI is close to reaching break-even in terms of underlying EBIT at -97 million euros in Q4 2021. TUI Hotels & Resorts, an important and high earning division for the Group, as well as TUI tour operators in the Central and Western Regions, reported positive underlying quarterly results for the first time since the beginning of the pandemic. Cash flow before financing activities was also positive for the second quarter in a row. Fritz Joussen, CEO of TUI Group: “The operating business is back. We are generating significant cash inflows and achieving positive results again in many markets and with our hotels and TUI hotel brands. The programme of the first financial quarter of 2022 is already almost fully sold. This means that we are currently achieving 69 per cent of the pre-crisis level. We expect Summer 2022 to reach a largely normalised booking level. Structurally, we have also done our homework. The Group’s transformation and the global efficiency programme are progressing very well. In 2021 we have already achieved around 60 per cent of the annual cost savings of 400 million euros announced for 2023. In addition, we have reduced our debt with successful refinancing measures, strengthened the balance sheet and have very solid liquidity. I would like to thank our guests for their trust, all colleagues for their commitment and our partners in the markets and destinations for their dedicated support with the successful relaunch of tourism in 2021.”