TUI AG: Award of phantom shares under TUI AG's Long Term Incentive Plans

TUI AG

PDMR Interest in shares

Award of phantom shares under TUI AG's Long Term Incentive Plans

TUI AG (the "Company") announces that phantom share awards ("Awards") were granted to its members of the Executive Board and MrWolfgangFlintermann, a member of the Company's Supervisory Board, as set out in the table below under its Long Term Incentive Plans.

The Awards were granted with retroactive effect to 1 October 2017at a base price of EUR14.60[1] per share.

The Awards were granted under the terms and conditions oftherespective service contracts. The vesting of the Awards isdepending on the performance criteria specified by the respective service contracts and the price of TUI AG shares.

Vesting of phantom shares under TUI AG's Long Term Incentive Plans

Furthermore, the Company announces that Awardsgranted under itsExecutive Board Long Term Incentive Planvested on 30 September 2017 and became payable on 12 December 2017after the adoption of the annual accounts for the financial year 2016/17, asset out in the table below.

The Awards, which will be paid out in cash, vested at a value of EUR14.60[3]per share.

The Awards vested and became payablein accordance with the terms and conditions oftherespective service contracts.

[1]Average XETRA price of TUI AG shares over the 20 trading days prior to the date of grant.

[2]In addition to further 46,233 Awards received on 1 October 2017 (as announced on 5 October 2017).

[3]Average XETRA price of TUI AG shares over the 20 trading days prior to the date of vesting.