Morgan Stanley, Wilmington, Delaware, United States of America (USA)

Notification of Major Holdings

1. Details of issuer

Name :	TUI AG 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

Legal entity: Morgan Stanley City of registered office, country: Wilmington, Delaware, United States of America (USA)

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

5. Date on which threshold was crossed or reached:

05 Jun 2026

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	0.83 %	4.58 %	5.41 %	507431033
Previous notification	0.03 %	1.63 %	1.66 %	/

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	4206901	0 %	0.83 %
Total	4206901		0.83 %

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 %
Equity Call Option	From 19.06.2026 to 17.12.2027	at any time	1279200	0.25 %
Right of recall over securities lending agreements	at any time	at any time	6012735	1.18 %
		Total	7291935	1.44 %

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 %
Equity Put Option	From 19.06.2026 to 15.12.2028	at any time	Physical	4225600	0.83 %
Retail Structured Product	From 17.03.2071 to 02.06.2076	at any time	Cash	8314	0 %
Equity Swap	From 25.11.2026 to 04.11.2030	at any time	Cash	11709588	2.31 %
Retail Structured Product - Warrant	From 18.12.2026 to 17.12.2027	at any time	Cash	45	0 %
Compound Option	From 22.02.2027 to 12.05.2028	at any time	Cash	14207	0 %
Retail Structured Product - Note	12.05.2028	at any time	Cash	2629	0 %
			Total	15960383	3.15 %

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)
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley Domestic Holdings, LLC	%	%	%
Morgan Stanley Capital Services LLC	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley & Co. LLC	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley International Holdings Inc.	%	%	%
Morgan Stanley International Limited	%	%	%
Morgan Stanley Investments (UK)	%	%	%
Morgan Stanley & Co. International plc	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley & Co. LLC	%	%	%
Prime Dealer Services Corp.	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley International Holdings Inc.	%	%	%
Morgan Stanley B.V.	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley Smith Barney LLC	%	%	%

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

11 Jun 2026