TUI AG announced that, on 2 December 2020 that it had agreed a €1.8 billion financing package with the German Economic Support Fund (Wirtschaftsstabilisierungsfonds) (the WSF), Unifirm Limited, a syndicate of underwriting banks (the Underwriting Banks) and KfW. The Company announced that the formal written agreements relating to the Financing Package with the WSF, KfW and various commercial banks have been executed by the relevant parties.  The Financing Package comprises the following measures: an increase in the share capital of TUI by way of a fully underwritten rights issue to raise net proceeds of approximately €509 million (the Rights Issue); German law 'silent participation' (stille Beteiligung) private instruments issued by the Company to the WSF in an aggregate amount of approximately €1,091 million, divided into: a €420 million convertible silent participation (the Convertible Silent Participation); and an €671 million non-convertible silent participation (the Non-Convertible Silent Participation) which may be subsequently decreased if and to the extent that a further funding instrument in an amount of up to €400 million (but, most likely, not exceeding €200 million) (the Additional Funding Instrument) is provided by one or more than one German federal states (Lender) (the Lender) by way of a full or partial guarantee of a guarantee facility agreement concluded by the Company with certain commercial banks; a €200 million revolving credit facility provided by KfW and a syndicate of commercial banks (the New Loan Facility) on a secured basis; and a waiver by KfW (the KfW Waiver) pursuant to which KfW agrees to the waiver of an automatic cancellation of commitments in the amount of €500 million under an existing €2.85 billion revolving credit facility provided by KfW to the Company until the maturity of that facility subject to the payment of the Convertible Silent Participation and the signing of the New Loan Facility (the Existing Loan Facility).