BRIEF

on TUI AG (isin : DE000TUAG000)

Change of major holdings at TUI AG by The Goldman Sachs Group, Inc.

TUI AG announced a significant change in its shareholder structure, marked by an adjustment of shareholdings carried out by The Goldman Sachs Group, Inc. This change results from the acquisition/disposal of shares with voting rights and a change in the distribution voting rights, which took place on February 23, 2024.

The new positions reveal that The Goldman Sachs Group, Inc. now holds 0.30% of direct voting rights and 5.27% through financial instruments, consolidating a total stake of 5.57% in TUI AG. This amounts to a notable change from the previous notification, marking the growing importance of Goldman Sachs' investment strategy in the Hannover-based company.

Financial instruments play a significant role in this redistribution, including call options, convertible bonds and call warrants, highlighting the complexity of market operations undertaken by The Goldman Sachs Group, Inc.

This development is highlighted in a voluntary group notification, detailing the achievement of a trigger threshold at the subsidiary level, which highlights the increased and strategic interest of the American entity in TUI AG.

R. H.

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