Notifying Parties:

Alexey A. Mordashov

Kirill A. Mordashov

Nikita A. Mordashov

Severgroup Limited Liability Company

Rayglow Limited

KN-Holding Limited Liability Company

Unifirm Limited

Issuer: TUI AG, Hannover, Germany

On 29 January 2021, Mr. Alexey A. Mordashov, Mr. Kirill A. Mordashov and Mr. Nikita A. Mordashov notified the Issuer and the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) pursuant to Section 33 para. 1 of the German Securities Trading Act (Wertpapierhandelsgesetz; WpHG) that their voting rights and the voting rights of the other Notifying Parties in the Issuer exceeded the threshold of 30% on January 26, 2021 and amounted to 30.10 % (this corresponds to 330,917,480 voting rights) in the Issuer as per this date.

Against this background, the Notifying Parties hereby notify the Issuer pursuant to Section 43 para. 1 WpHG of the following:

I. Aims Underlying the Acquisition of the Voting Rights (Section 43 para. 1 sentence 3 WpHG)

1. The investment is aimed at implementing strategic objectives.

2. If market conditions permit and depending on the development of the share price, the Notifying Parties may decide to acquire further voting rights in the Issuer within the next twelve months by means of an acquisition or by any other means.

3. The Notifying Parties do not intend to exert an influence on the appointment or removal of members of the Issuer's management board or supervisory board, other than by exercising the voting rights held by Unifirm Limited in the ordinary course of elections of members of the supervisory board in the general meeting and other than by the Notifying Parties' representatives on the supervisory board exercising their role in decisions to be made by the supervisory board in relation to upcoming appointments or removals of members of the management board.

4. The Notifying Parties do not pursue a material change in the Issuer's capital structure, including as regards the ratio between equity and debt financing and the dividend policy.

II. Origin of the Funds Used (Section43 para. 1 sentence 4 WpHG)

          The Notifying Parties used own funds in order to finance the acquisition of the voting rights.