TUI AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

Notification of Major Holdings 1. Details of issuer

TUI AGKarl-Wiechert-Allee 430625 HannoverGermany

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

Name:	City and country of registered office:
Standard Life Aberdeen plc	Edinburgh, ScotlandUnited Kingdom

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:

21 Nov 2017

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 of issuer
Resulting situation	4.94 %	0.00 %	4.94 %	587,386,900
Previous notification	5.32 %	0.0 %	5.32 %	/

7. Notified details of the resulting situationa. Voting rights attached to shares (Sec.s 21, 22 WpHG)

ISIN	absolute		in %
	direct (Sec. 21 WpHG)	indirect (Sec. 22 WpHG)	direct (Sec. 21 WpHG)	indirect (Sec. 22 WpHG)
DE000TUAG000		29014890	%	4.94 %
Total	29014890		4.94 %

b.1. Instruments according to Sec. 25 para. 1 No. 1 WpHG

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

b.2. Instruments according to Sec. 25 para. 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 %
					%
			Total		%

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

	Person subject to the notification obligation is not controlled and does itself not control any other undertaking(s) holding directly or indirectly 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 held 3% or more)	% of voting rights through instruments (if at least held 5% or more)	Total of both (if at least held 5% or more)
Standard Life Aberdeen plc	%	%	%
Standard Life Investments (Holdings) Limited	%	%	%
Standard Life Investments Limited	%	%	%
Standard Life Investments (Mutual Funds) Limited	%	%	%
Standard Life Aberdeen plc	%	%	%
Aberdeen Asset Management PLC	%	%	%
Aberdeen Asset Managers Limited	%	%	%
Standard Life Aberdeen plc	%	%	%
Aberdeen Asset Management PLC	%	%	%
Aberdeen Asset Investment Group Limited	%	%	%
Aberdeen Asset Investments Limited	%	%	%
Standard Life Aberdeen plc	%	%	%
Standard Life Investments (Holdings) Limited	%	%	%
Ignis Asset Management Limited	%	%	%
Ignis Investment Services Limited	%	%	%

9. In case of proxy voting according to Sec. 22 para. 3 WpHG

Date of general meeting:
Holding position after general meeting:	% (equals voting rights)

10. Other explanatory remarks: