TUI AG

Director's Dealing • Jan 23, 2017

TUIAG / Director/PDMR Shareholding*

23-Jan-2017 / 15:53 CET/CEST

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TUIAG

PDMR INTEREST IN SHARES

Awards of PhantomShares Under Long TermIncentive Programmes

On 07 December 2016 TUIAG ('the Company') announced the appointment of Frank Rosenberger as a member of the Executive Board of the Company, the appointment to take effect from 01 January 2017. The Company now announces that an award of phantom shares (the 'Award') was granted to Mr Rosenberger under the Company's Long Term Incentive Plan with vesting to take effect as if the performance period commenced on 1 October 2016. The number of phantom shares subject to the Award was calculated based on a pro-rated target amount due to the date on which his appointment started on 01 January 2017 (being 3/4 of a full financial year) and the Award was granted at a base price of EUR 12.36 ¹ per share:

Name of the PDMRCorporate BodyNumber of PhantomShares

Frank Rosenberger Executive Board 18204

The Award made to Mr Rosenberger was granted in accordance with the terms of his service contract and will vest and be paid in cash subject to (i) a TSR performance target determined over a 4-year performance period; and (ii) the average XETRA price of the Company's shares over the 20 trading days prior to date of vesting.

1 Average XETRA price of the Company's shares over the 20 trading days prior to 1 October 2016.

Dated: 23 January 2017

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Language: English
Company:	TUIAG
	Karl-Wiechert-Allee 4
	30625 Hannover
	Germany
Phone:	+49 (0)511 566-00
Fax:	+49 (0)511 566-1901
E-mail:	Investor.Relations@tui.com
Internet:	www.tuigroup.com
ISIN:	DE000TUAG000, DE000TUAG281, DE000TUAG299
WKN:	TUAG00 , TUA G28, TUA G29
Listed:	Regulated Market in Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt ; London
Category Code:	DSH
TIDM:	TUI
LEICode:	529900SL2WSPV293B552
OAM Categories:	3.1.Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:	3777

End ofAnnouncementEQS News Service