Hanover, 26 September 2024. TUI has seen a significant growth in Markets + Airline
as well as in the Hotels & Resorts, Cruises and in the Experiences businesses in the last
two years. Not only has the Group invested in differentiated Hotel and Cruise products
but also in IT platforms – especially in sourcing, selling, production and pricing. With
this, a foundation has been laid for further growth. To support these platform growth
opportunities the organisation is now further developing to become a Global Curated
Leisure Marketplace.

In future, the tourism group will expand the successful TUI product range and offer
more third-party products. The core business of classic packages will be
complemented by dynamic packages and single components. At the same time, the
company will increase personalised offers, grow ancillaries and maintain the high level
of service, that TUI customers know and value for years. The successful Retail and
online direct channels will be at the center of the Group’s growth ambitions.

To realise its full potential, Markets + Airline now aligns the organisational structure
and processes with its strategic priorities. Therefore, a new set-up with three main
focus areas, that create strong synergies will be rolled-out: First, a new operating
model for the tour operator creating a fully integrated functional Marketplace for the
core business, enabling global scalability at speed, making it more efficient and
profitable. Second, a separate unit for Expansion Businesses, which will focus on new
product categories and markets. And thirdly, TUI is setting up an enlarged commercial
function in its Airline.

Sebastian Ebel, TUI Group CEO: “We have reported double-digit growth for the eighth
consecutive quarter in underlying EBIT in August. This demonstrates the strength of
our business strategy. We will accelerate our growth plans and are therefore now
taking the next step in our transformation. Markets + Airline plays a key role in this: In
addition to being a successful package tour operator with a strong brand, we will offer
a growing portfolio of products, services and destinations. The aim is to sell more
products to more customers globally throughout the whole year. The Markets + Airline
transformation will help us to grow our TUI smile globally.”

New organisational model and new leadership team for Markets + Airline
The transformation into a Marketplace means the main functions – Commercial and
Marketing – will be organised in an integrated way across the regions. The Commercial
function includes all product and sourcing activities as well as optimising trading tools.
It will be led by Stefan Baumert, the new Chief Commercial Officer, who is looking
back at a long and successful career at TUI. Marketing will also be organised on a
central level. The lead for this function will be appointed shortly. In the new
Marketplace the regions will ensure focus on local customer needs, with responsibilities
for flight capacity management, trading, as well as distribution and local marketing. A
Managing Director has been appointed per region. Arjan Kers will be responsible for
the BeNe (Belgium and the Netherlands) region. The GAS (Germany, Austria,
Switzerland) region will be led by Benjamin Jacobi and Jessica Enbacka will lead the
Nordics. Neil Swanson will be responsible for the UK & Ireland business, replacing
Andrew Flintham who will leave the organisation after a long career in the Group. The
regions will keep their own profit and loss statements and will report directly to David
Schelp, CEO Markets + Airline.

Expansion Businesses for incubation and growth at speed

As the tourism group wants to grow outside of its current portfolio, an “Expansion
Businesses” unit will be set up. Mircea Tudose will be responsible as Managing Director
Expansion Businesses and report directly to David Schelp. The unit will act as an
incubator and prioritise the roll-out of new product platforms, the attraction of new
customer segments, as well as entering new source markets.

Strengthening business relevance: TUI Airline with enlarged commercial set-up
The airline industry continues to evolve, with growing capacity, focus on cost and
efficiency, as well as a shift to leisure markets. In order to stay on its growth journey,
TUI Airline, which will continue to be led by Marco Ciomperlik, CEO TUI Airline, will
enlarge its commercial set-up. The focus will be to take advantage of commercial
opportunities whilst aligning operations with the needs of the regions and deliver value
for the TUI Group.

All changes will take effect as of 1 October 2024.

David Schelp, CEO Markets + Airline: “As the market environment and customer
demand are changing, we now will accelerate our transformation to ensure that we
deliver our ambitious growth targets. The new organisation will establish clear
accountabilities and allow for scalability, more agility and maximisation of our
opportunities in the global tourism market. Customers will be able to book more
flexibly and choose from an even wider product range. The integrated business model
with Holiday Experiences – which includes Hotels & Resorts, Cruises and Activities –
and Markets + Airline will further unlock significant value for our shareholders. The
transformation will support in delivering our growth ambitions and together with my
new leadership team, I look forward to accelerating the transformation and
successfully implementing the new set-up.”