Notification of Major Holdings

1. Details of issuer

Name:	TUI AG
Street:	Karl-Wiechert-Allee 23
Postal code:	30625
City:	Hannover Germany
Legal Entity Identifier (LEI):	529900SL2WSPV293B552

2. Reason for notification

X	Acquisition/disposal of shares with voting rights
	Acquisition/disposal of instruments
	Change of breakdown of voting rights
	Other reason:

3. Details of person subject to the notification obligation

Natural person (first name, surname): Federico Riggio Date of birth: 24 Sep 1987

4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.

Helikon Long Short Equity Fund Master ICAV

5. Date on which threshold was crossed or reached:

12 Oct 2023

6. Total positions

	% of voting rights attached to shares (total of 7.a.)	% of voting rights through instruments (total of 7.b.1 + 7.b.2)	Total of both in % (7.a. + 7.b.)	Total number of voting rights pursuant to Sec. 41 WpHG
New	3.0072 %	1.95 %	4.96 %	507431033
Previous notification	2.95 %	1.98 %	4.92 %	/

7. Details on total positions
a. Voting rights attached to shares (Sec. 33, 34 WpHG)

ISIN	Absolute		In %
	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)
DE000TUAG505	0	15259628	0.00 %	3.0072 %
Total	15259628		3.0072 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Voting rights absolute	Voting rights in %
			0	0.00 %
		Total	0	0.00 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Cash or physical settlement	Voting rights absolute	Voting rights in %
cash-settled equity swap	17/12/2024		Cash	1514650	0.29 %
cash-settled equity swap	02/06/2026		Cash	149296	0.02 %
cash-settled equity swap	17/12/2024		Cash	4230713	0.83 %
cash-settled equity swap	05/05/2026		Cash	4043604	0.79 %
			Total	9938263	1.95 %

8. Information in relation to the person subject to the notification obligation

	Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).
X	Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name	% of voting rights (if at least 3% or more)	% of voting rights through instruments (if at least 5% or more)	Total of both (if at least 5% or more)
Federico Riggio	%	%	%
F Squared S.r.l.	%	%	%
Rule 72 S.r.l.	%	%	%
Helikon Investments	3.0072 %	%	%

9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:

Proportion of voting rights	Proportion of instruments	Total of both
%	%	%

10. Other explanatory remarks:

Date

05 Dec 2023