• Group revenue for the second quarter of 2025 increases by 1.5 per cent to €3.71 billion (previous year: €3.65 billion)

• Taking into account the Easter effect^[1] of -32 million euros, adjusted Q2 Group EBIT improved by +14 million euros (Q2 2025: -207 million euros; previous year: -189 million euros)

• Good lates markets for Winter 2024/25: Overall, the season saw a +2 per cent increase in bookings and average prices up +4 percent year-on-year

• Net debt improved by -0.1 billion euro to 3.0 billion euro as of 31 March 2025

• Guidance for the current 2025 financial year reaffirmed: Revenue increase of 5-10 per cent, increase in underlying EBIT of 7-10 per cent

• TUI Group CEO Sebastian Ebel: "We will continue to grow profitably in this financial year. TUI reaffirms its revenue and earnings outlook for 2025. Given the economic conditions, 2025 will be challenging. Europe needs new momentum. We must return to an overall economy that is growing. More investment, more freedom – less regulation and less bureaucracy. This will strengthen the economy and consumer behavior."

TUI continues to expect a successful full year 2025 and reaffirms its targets and outlook after six months. The second quarter (January to March) was concluded with a good result despite the economic challenges in Europe. Group revenue for the reporting period (January to March 2025) amounted to €3.71 billion (previous year: €3.68 billion).

TUI Group CEO Sebastian Ebel: "The environment was challenging. And the second half of the year will also remain demanding for the overall economy in Europe. Our integrated and diversified business model with its activities in Europe and increasingly also outside Europe, proved its worth again in the second quarter. The Hotel, Cruises and activities business benefited from strong tour operator and travel sales. Our focus is now on the important summer business. We are offering more and more products in more destinations for existing and new customers. In times of economic and political challenges, we are focusing on securing margins, driving forward the transformation of the Markets + Airline business (tour operators, retail and TUI Airline) and consistently reducing costs. Travel agencies remain an important partner and distribution channel.We are expanding our tour operator business and travel agency sales, as well as our own app, in particular with our dynamically compiled product offerings. We see that customers appreciate the flexibility and significantly greater choice. More individuality, flexibile options and the proven security of package holidays are the strengths of dynamically sourced travel offerings. This enables us to optimise the customer lifetime value and offer customers more frequent leisure activities and trips with TUI all year-round – from summer holidays and city breaks to event activities. We are continuing to expand the synergies from our integrated business model and are leveraging the sales strength of our Markets + Airline division strategically and operationally. This will further strengthen the already highly successful Holiday Experiences, as well as the overall profitability of the Group. Our global platforms are increasingly helping us to achieve this.”

Mathias Kiep, TUI Group CFO: “We are in a good financial position as a Group. We were able to further reduce our net debt. In March 2025, we successfully refinanced our central financing instrument, the sustainability-linked revolving credit facility (RCF). The new RCF, which has a term of five years and matures in March 2030, has a volume of around 1.9 billion euros and improves our financial flexibility and liquidity position."

Development in the second quarter of 2025

Holiday Experiences bookings remain on track for the second half of the year, Markets + Airline: Good lates market in Winter 2024/25, later booking behavior for Summer 25 due to the Easter effect^[2] with higher average prices – Group confirms outlook and growth for full year 2025

Holiday Experiences remains on track, supported by higher average prices in the second half of the year. In the Hotels & Resorts segment, occupancy is up 1 percentage point with an average price increase of 8 per cent. The number of available passenger days for cruises is up 23 per cent thanks to two new additions to the TUI Cruises fleet. Global occupancy is at the previous year's level. The daily rate is up 2 per cent. TUI Musement is benefiting from strong demand for its own differentiated products and expects bookings to increase in the high single-digit range. The number of transfers in the second half of the year is in line with our expectations for Markets + Airline.

For the upcoming Summer 2025, the Group's strategy focuses on growing dynamically packaged travel, securing margins and reduce cost. Due to the later Easter business in April, a later booking behaviour can be observed. In a highly competitive environment with capacities remaining unchanged, incoming bookings are slightly below the previous year's level at -1 per cent. Average prices are up +4 per cent.

Guidance for Full Year 2025

TUI remains on course for growth – the focus continues to be on operational excellence, implementing initiatives for further transformation and profitable growth. The outlook is based on sustainable growth in the Holiday Experiences segment and transforming the Markets + Airline business. It is also supported by the overall good performance in the first half of 2025. Against this backdrop, the Group confirms its guidance for the 2025 financial year:

• a 5-10 per cent increase in revenue compared with the previous year
• an increase in underlying EBIT of 7-10 per cent compared with the previous year, driven in particular by expectations for Summer 2025 with a 32 million euros phasing effect from Easter holidays shifting to Q3

TUI is pursuing a clear strategy to accelerate profitable growth. The transformation is aimed at making TUI's business more agile and cost-efficient and achieving greater speed in market launches and global expansion. This will generate additional value for customers, shareholders and employees.

In the medium term, TUI therefore continues to expect:

• average underlying EBIT growth of approximately 7-10 per cent CAGR
• a net debt ratio of well below 1.0x
• With the recent upgrades of our credit ratings by the rating agencies, we have achieved our goal of returning to pre-pandemic levels.