TUI AG

Remuneration Information • Jan 23, 2017

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TUI AG / Director/PDMR Shareholding*

TUI AG: Awards of Phantom Shares Under Long Term Incentive Programmes

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

Dissemination of a Regulatory Announcement, transmitted by EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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TUI AG

PDMR INTEREST IN SHARES

Awards of Phantom Shares Under Long Term Incentive Programmes

On 07 December 2016 TUI AG ('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 PDMR	Corporate Body	Number of Phantom Shares
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:	TUI AG
	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
LEI Code:	529900SL2WSPV293B552
OAM Categories:	3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:	3777

End of Announcement	EQS News Service

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538447  23-Jan-2017