Deutsche Lufthansa Aktiengesellschaft in Respect of Non-Equity Securities Within the Meaning of Art

Second Supplement dated 19 December 2019 to the Prospectus dated 4 July 2019 as supplemented by the First Supplement dated 23 August 2019

This document constitutes a supplement (the "Second Supplement") within the meaning of Article 46(3) of Regulation (EU) 2017/1129 of the European Parliament and the Council of 14 June 2017 (the "Prospectus Regulation") in connection with Article 13 Luxembourg law relating to prospectuses for securities dated 10 July 2005, as amended, (Loi relative aux prospectus pour valeurs mobilières, the "Luxembourg Law 2005"), which implemented Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003, as amended (the "Prospectus Directive") to the base prospectus of Deutsche Lufthansa Aktiengesellschaft in respect of non-equity securities within the meaning of Art. 22 No. 6(4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004, as amended, ("Non-Equity Securities") (the "Debt Issuance Programme Prospectus" or the "Prospectus").

This Second Supplement is supplemental to, and must be read in conjunction with the Debt Issuance Programme Prospectus dated 4 July 2019 as supplemented by the first supplement dated 23 August 2019 (the "First Supplement") (the Prospectus together with the First Supplement, the "Supplemented Prospectus").

Deutsche Lufthansa Aktiengesellschaft (Cologne, Federal Republic of Germany) as Issuer EUR 4,000,000,000 Debt Issuance Programme (the "Programme")

The Issuer has requested the Luxembourg Commission de Surveillance du Secteur Financier (the "Commission") in its capacity as competent authority under the Luxembourg law relating to prospectuses for securities dated 16 July 2019 (Loi du 16 juillet 2019 relative aux prospectus pour valeurs mobilières et portant mise en œuvre du règlement (UE) 2017/1129), which implements the Prospectus Regulation, to approve this Second Supplement and to provide the competent authorities in the Federal Republic of Germany, the Republic of Austria, the Republic of Ireland and the United Kingdom of Great Britain and Northern Ireland with a certificate of approval attesting that the Second Supplement has been drawn up in accordance with the Luxembourg Law 2005 (each a "Notification") pursuant to Article 46(3) Prospectus Regulation in connection with Article 19 Luxembourg Law 2005. The Issuer may request the Commission to provide competent authorities in additional host Member States within the European Economic Area with a Notification.

This Second Supplement has been approved by the Commission, has been filed with said authority and will be published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu) and on the website of Lufthansa (www.lufthansa.com).

Deutsche Lufthansa Aktiengesellschaft ("Lufthansa" or "Lufthansa AG" or the "Issuer", together with its consolidated group companies, the "Lufthansa Group") with its registered office in Cologne, Federal Republic of Germany accepts responsibility for the information given in this Second Supplement.

The Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Second Supplement for which it is responsible is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import.

Terms defined or otherwise attributed meanings in the Supplemented Prospectus have the same meaning in this Second Supplement.

This Second Supplement shall only be distributed in connection with the Supplemented Prospectus. It should only be read in conjunction with the Supplemented Prospectus.

To the extent that there is any inconsistency between any statement in this Second Supplement and any other statement in or incorporated by reference into the Supplemented Prospectus, the statements in this Second Supplement will prevail.

Save as disclosed in this Second Supplement, there has been no other significant new factor, material mistake or material inaccuracy relating to information included in the Supplemented Prospectus which is capable of affecting the assessment of Notes issued under the Programme since the publication of the Supplemented Prospectus.

The Issuer has confirmed to the Dealers that the Supplemented Prospectus as supplemented by this Second Supplement contains all information which is necessary to enable investors to make an informed assessment of the assets and liabilities, financial position, profit and losses and prospects of the Issuer and the rights attaching to the Notes which is material in the context of the Programme; that the information contained therein with respect to the Issuer and the Notes is accurate and complete in all material respects and is not misleading; that any opinions and intentions expressed therein are honestly held and based on reasonable assumptions; that there are no other facts with respect to the Issuer or the Notes, the omission of which would make the Supplemented Prospectus as supplemented by this Second Supplement as a whole or any of such information or the expression of any such opinions or intentions misleading; that the Issuer has made all reasonable enquiries to ascertain all facts material for the purposes aforesaid.

No person has been authorised to give any information which is not contained in or not consistent with the Supplemented Prospectus or this Second Supplement or any other document entered into in relation to the Programme or any information supplied by the Issuer or any other information in the public domain and, if given or made, such information must not be relied upon as having been authorised by the Issuer, the Dealers or any of them.

To the extent permitted by the laws of any relevant jurisdiction, neither the Arranger nor any Dealer nor any other person mentioned in the Supplemented Prospectus or this Second Supplement, excluding the Issuer, is responsible for the information contained in the Supplemented Prospectus or this Second Supplement or any Final Terms or any other document incorporated therein by reference, and accordingly, and to the extent permitted by the laws of any relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and completeness of the information contained in any of these documents.

In accordance with Article 46(3) Prospectus Regulation in connection with Article 13(2) of the Luxembourg Law 2005, where the Supplemented Prospectus relates to an offer of Notes to the public, investors who have already agreed to purchase or subscribe for Notes before this Second Supplement is published have the right, exercisable within a time limit of two working days after the publication of this Second Supplement, until 23 December 2019, to withdraw their acceptances provided that the new factor, mistake or inaccuracy referred to in Article 46(3) Prospectus Regulation in connection with Article 13(2) of the Luxembourg Law 2005 arose before the final closing of the offer to the public and the delivery of the Notes.

SUPPLEMENTAL AND REPLACEMENT INFORMATION

I. Replacement and supplemental information pertaining to the SUMMARY

1. Section B – Issuer – Element B.12 – "Selected historical key financial information" on pages 7-8 of the Supplemented Prospectus shall be supplemented by the following:

"Period ended Period ended 30 September 2019 (1) 30 September 2018 (unaudited) (unaudited) (EUR in millions, unless otherwise indicated) Revenues 27,700 26,897 Adjusted EBITDA (2) 3,715 4,078 Adjusted EBIT (3) 1,715 2,458 EBIT (4) 1,637 2,457 Net profit/loss attributable to shareholders of Lufthansa AG 1,038 1,820 Cash flows from operating activities 3,735 4,124 Free cash flow (5) 963 1,152 Adjusted free cash flow (6) 685 1,181 Total assets 44,187 38,838 Shareholder's equity 8,991 11,037 Number of employees (7) 138,350 135,033

(1) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements from 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) "Adjusted EBIT" is defined as EBIT adjusted for asset valuations and disposals and for the measurement of pension provisions. Adjusted EBIT should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (4) "EBIT" is defined as earnings before interest and taxes. EBIT should not be considered by investors as an alternative to Lufthansa's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (5) "Free cash flow" is defined as cash flow from operating activities after deducting net cash used for investing activities. Net cash used for investing activities is defined as the cash flow resulting from investments and additions to repairable spare parts, purchase / disposal of shares / non-current assets, as well as dividends and interest received. (6) "Adjusted free cash flow" is defined as Free cash flow adjusted for effects of IFRS 16 (EUR 278 million in 2019). Lease payments are shown as payments of capital and interest within cash flow from financing activities, in accordance with IFRS 16. Adjusted free cash flow reflects the cash outflow for leases (capital payments) that is shown in cash flow from financing activities; comparative figure is restated for the interest portion of lease expenses shown in cash flow from operating activities (EUR 315 million). (7) Number as per end of period.

Information for the periods ended 30 September 2019 and 30 September 2018 extracted from the Unaudited Consolidated Interim Financial Statements from 1 January to 4

30 September 2019 of Lufthansa Group."

2. Section B – Issuer – Element B.12 – "Significant change in the financial and trading position" on page 8 of the Supplemented Prospectus shall be replaced by the following:

"Not applicable. There has been no significant change in the financial or trading position of Lufthansa since 30 September 2019."

3. Section B – Issuer – Element B.13 – "Recent events" on pages 8-9 of the Supplemented Prospectus shall be supplemented by the following:

"In November 2019, Lufthansa decided to start the collective arbitration with the UFO trade union under the leadership of the two arbitrators Matthias Platzeck and Frank-Jürgen Weise. On 3 December 2019, the Supervisory Board of Deutsche Lufthansa AG approved the planned sale of the LSG Group's European business to gategroup. Following on 7 December 2019 the Lufthansa Group and gategroup concluded a purchase agreement for the European business of the LSG Group. The sale is subject to the approval of the relevant competition authorities. The businesses concerned currently employ some 7,100 personnel and generated revenues of around EUR 1.1 billion in 2018 – about a third of the LSG Group’s total revenue volume. The sale of the remaining part of the LSG Group should be initiated early next year. On 3 December 2019, the Supervisory Board of Deutsche Lufthansa AG decided to realign the Executive Board. As of 1 January 2020, the Executive Board will be expanded to include the board-level position "Customer & Corporate Responsibility". The Supervisory Board has also decided to consistently structure the Executive Board according to functional criteria. As a result, "Eurowings" will no longer be managed as a separate board-level division. As of 1 January 2020, the "HR & Legal" department will be headed by Michael Niggemann, CFO of Swiss International Airlines."

4. In Setion B – Issuer – Element B.15 – "Principal activities" on page 9 of the Supplemented Prospectus, the 5th paragraph shall be supplemented by the following:

"Lufthansa is in the process of selling the catering segment. Beginning of December 2019 an asset and share purchase agreement regarding the European business of LSG Group (including the divisions Spiriant, Ringeltaube and Lounge) was concluded. The sale is subject to cartel clearance. The sale of the rest of the world catering business shall start beginning 2020." 5

II. Replacement and supplemental information pertaining to the GERMAN TRANSLATION OF THE SUMMARY

1. Abschnitt B – Emittentin – Element B.12 – "Ausgewählte wesentliche historische Finanz- informationen" on page 20 of the Supplemented Prospectus shall be supplemented by the following:

"Periode zum Periode zum 30. September 2019 (1) 30. September 2018 (ungeprüft) (ungeprüft) (EUR in Millionen, sofern nicht anderweitig angegeben) Umsatzerlöse 27.700 26.897 Adjusted EBITDA (2) 3.715 4.078 Adjusted EBIT (3) 1.715 2.458 EBIT (4) 1.637 2.457 Auf Aktionäre der Lufthansa AG entfallendes Konzernergebnis 1.038 1.820 Operativer Cash Flow 3.735 4.124 Free Cash Flow (5) 963 1.152 Adjusted Free Cash Flow (6) 685 1.181 Bilanzsumme 44.187 38.838 Eigenkapital 8.991 11.037 Anzahl der Mitarbeiter (7) 138.350 135.033

(1) Die erstmalige Anwendung von IFRS 16 erfolgte ab Januar 2019 in Übereinstimmung mit den Übergangsvorschriften des IFRS 16 nach dem modifizierten retrospektiven Ansatz. Die Vergleichszahlen für das Geschäftsjahr 2018 wurden dementsprechend nicht angepasst. Eine detaillierte Erläuterung ist im ungeprüften Konzernzwischenabschluss vom 1. Januar bis zum 30. September 2019 aufgeführt (IFRS 16, S. 20 f.). (2) "Adjusted EBITDA" ist definiert als Adjusted EBIT zuzüglich planmäßiger Abschreibungen. Der Begriff Abschreibungen umfasst hier sowohl die Abschreibungen auf immaterielle Vermögenswerte und Sachanlagevermögen als auch auf lang- und kurzfristige Finanzvermögenswerte. Weiterhin sind die außerordentlichen Abschreibungen der nach der Equity-Methode bewerteten Beteiligungen und der zum Verkauf vorgesehenen Vermögenswerte enthalten. Adjusted EBITDA sollte von den Anlegern nicht als Alternative zu dem Ergebnis der betrieblichen Tätigkeit oder der gewöhnlichen Geschäftstätigkeit der Lufthansa als Indikator für das Betriebsergebnis des Unternehmens verstanden werden oder als Alternative zum Cashflow aus der betrieblichen Tätigkeit als Indikator für den Cashflow. (3) "Adjusted EBIT" ist definiert als EBIT bereinigt um Bewertungseffekte aus Bewertung von Vermögensgegenständen, um Ergebniseffekte aus Veräußerung von Vermögensgegenständen sowie um Bewertungseffekte von Pensionsrückstellungen. Adjusted EBIT sollte von den Anlegern nicht als Alternative zu dem Ergebnis der betrieblichen Tätigkeit oder der gewöhnlichen Geschäftstätigkeit der Lufthansa als Indikator für das Betriebsergebnis des Unternehmens verstanden werden oder als Alternative zum Cashflow aus der betrieblichen Tätigkeit als Indikator für den Cashflow. (4) "EBIT" ist definiert als das Ergebnis vor Zinsen und Ertragsteuern. EBIT sollte von den Anlegern nicht als Alternative zu dem Ergebnis der betrieblichen Tätigkeit oder der gewöhnlichen Geschäftstätigkeit der Lufthansa als Indikator für das Betriebsergebnis des Unternehmens verstanden werden oder als Alternative zum Cashflow aus der betrieblichen Tätigkeit als Indikator für den Cashflow. (5) "Free Cashflow" Finanzkennzahl. Sie zeigt die in der Berichtsperiode nach Abzug der für Investitionstätigkeit eingesetzten Nettozahlungsmittel verbliebenen Zahlungsmittel aus dem operativen Cashflow. Für Investitionstätigkeit eingesetzte Nettozahlungsmittel sind definiert als der Cash Flow von Investitionen und Zugängen reparaturfähiger Ersatzteile, Einnahmen aus Verkäufen von Anteilen/Abgang von Anlagevermögen und Zinseinnahmen und Dividenden. (6) "Adjusted Free Cash Flow" ist definiert als Free Cash Flow bereinigt um IFRS 16-Effekte (EUR 278 Millionen in 2019). Leasingzahlungen werden entsprechend IFRS 16 als Tilgung und Zinszahlung innerhalb des Finanzierungs-Cash Flows gezeigt. Adjusted Free Cash Flow berücksichtigt den Mittelabfluss aus Leasingverhältnissen (Tilgungsanteil), der im Finanzierungs-Cash Flow gezeigt wird; Vergleichsbasis wird entsprechend um den Zinsanteil der Leasingaufwendungen im operativen Cash Flow (EUR 315 Millionen) korrigiert. (7) Anzahl zum Stichtag. 6

Die Informationen für die Periode zum 30. September 2019 und zum 30. September 2018 wurden aus dem ungeprüften Konzernzwischenabschluss vom 1. Januar bis zum 30. September 2019 der Lufthansa Group entnommen."

2. Abschnitt B – Emittentin – Element B.12 – "Signifikante Veränderungen in der Finanz- bzw. Handelsposition" on pages 20-21 of the Supplemented Prospectus shall be replaced by the following:

"Nicht anwendbar. Seit dem 30. September 2019 hat es keine signifikanten Änderungen der Finanz- bzw. Handelsposition von Lufthansa gegeben."

3. Abschnitt B – Emittentin – Element B.13 – "Letzte Ereignisse" on page 21 of the Supplemented Prospectus shall be supplemented by the following:

"Im November 2019 hat die Lufthansa entschieden, die Schlichtungsgespräche mit der Gewerkschaft UFO, unter der Leitung der beiden Schlichter Matthias Platzeck und Frank-Jürgen Weise, zu beginnen. Am 3. Dezember 2019 hat der Aufsichtsrat der Deutschen Lufthansa AG dem geplanten Verkauf des Europageschäftes der LSG Group an gategroup zugestimmt. Dem folgend, haben die Lufthansa Group und gategroup am 7. Dezember 2019, einen Kaufvertrag über das Europageschäft der LSG Group geschlossen. Der Verkauf steht unter dem Vorbehalt der Genehmigung durch die Kartellbehörden. In den verkauften Unternehmensteilen sind rund 7.100 Mitarbeiter beschäftigt. Sie erwirtschafteten im Jahr 2018 einen Umsatz von rund 1,1 Milliarden Euro und trugen damit rund ein Drittel zum Gesamtumsatz der LSG Group bei. Der Verkauf des verbliebenen Teils der LSG Group wird Anfang nächsten Jahres eingeleitet. Am 3. Dezember 2019 hat Aufsichtsrat der Deutschen Lufthansa AG beschlossen, den Vorstand der Gesellschaft mit Wirkung zum 1. Januar 2020 inhaltlich und personell neu auszurichten. Zum 1. Januar 2020 wird der Vorstand um das Ressort "Customer & Corporate Responsibility" erweitert. Der Aufsichtsrat hat zudem beschlossen, den Vorstand durchgängig nach funktionalen Kriterien aufzustellen. Daher wird "Eurowings" nicht weiter als eigenes Vorstandsressort geführt. Ab dem 1. Januar 2020 wird das Ressort "Personal & Recht" künftig von Michael Niggemann, CFO von Swiss International Airlines, verantwortet."

4. In Abschnitt B – Emittentin – Element B.15 – "Haupttätigkeiten" on pages 21-22 of the Supplemented Prospectus, the 5th paragraph shall be supplemented by the following:

"Lufthansa befindet sich im Prozess, das Catering Segment zu verkaufen. Anfang Dezember 2019 wurde ein Verkaufsvertrag für das Europageschäft der LSG Group (inklusive der Sparten Spiriant, Ringeltaube und Lounge-Geschäft) abgeschlossen. Der Verkauf steht unter dem Vorbehalt der Genehmigung durch die Kartellbehörden. Der Verkauf des restlichen Geschäftes in den anderen Teilen der Welt soll in 2020 beginnen." 7

III. Replacement and supplemental information pertaining to DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT AND LUFTHANSA GROUP

1. The section "Lufthansa AG Selected Consolidated Financial Information" on page 57 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (7) of the second table:

"Lufthansa AG Period ended Period ended Selected Consolidated Financial Information 30 September 2019 (1) 30 September 2018 (EUR in millions, unless otherwise indicated) (unaudited) (unaudited)

Revenues 27,700 26,897 Adjusted EBITDA (2) 3,715 4,078 Adjusted EBIT (3) 1,715 2,458 EBIT (4) 1,637 2,457 Net profit/loss attributable to shareholders of Lufthansa AG 1,038 1,820 Cash flows from operating activities 3,735 4,124 Free cash flow (5) 963 1,152 Adjusted free cash flow (6) 685 1,181 Total Assets 44,187 38,838 Shareholders' equity 8,991 11,037 Number of employees (7) 138,350 135,033

(1) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements from 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) "Adjusted EBIT" is defined as EBIT adjusted for asset valuations and disposals and for the measurement of pension provisions. Adjusted EBIT should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (4) "EBIT" is defined as earnings before interest and taxes. EBIT should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (5) "Free cash flow" is defined as cash flow from operating activities after deducting net cash from/used in investing activities. Net cash used for investing activities is defined as the cash flow resulting from investments and additions to repairable spare parts, purchase / disposal of shares / non-current assets, as well as dividends and interest received. (6) "Adjusted free cash flow" is defined as Free cash flow adjusted for effects of IFRS 16 (EUR 278 million in 2019). Lease payments are shown as payments of capital and interest within cash flow from financing activities, in accordance with IFRS 16. Adjusted free cash flow reflects the cash outflow for leases (capital payments) that is shown in cash flow from financing activities; comparative figure is restated for the interest portion of lease expenses shown in cash flow from operating activities (EUR 315 million). (7) Number as per end of period." 8

2. The section "Reconciliation of results" on page 58 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (*) of the second table:

"Reconciliation of results Period ended Period ended 30 September 2019 (1) 30 September 2018 (unaudited) (unaudited) Recon. Adj'd Recon. Adj'd EUR in millions Inc. Stmt.(*) Inc. Stmt.(*) EBIT(*) EBIT(*) Revenues 27,700 - 26,897 - Changes in inventories 479 - 386 - Other operating income 1,269 - 1,234 - of which book gains - -16 - -15 of which write-ups on capital assets - -25 - -7 of which badwill - -- - Total operating income 29,448 -41 28,517 -22 Cost of materials and services -15,075 - -13,851 - Staff costs -6,735 - -6,529 - of which past service costs/ settlement - 6- 1 Depreciation -2,067 - -1,627 - of which impairment losses - 67 - 8 Other operating expenses -4,109 - -4,186 - of which impairment losses on assets held for sale - -- - of which expenses incurred from book losses - 32 - 14 Total operating expenses -27,986 105 -26,193 23 Profit / loss from operating activities 1,462 - 2,324 - Result from equity investments 175 - 133 - EBIT 1,637 - 2,457 - Total amount of reconciliation Adjusted EBIT - 78 - 1 Adjusted EBIT - 1,715 - 2,458 Depreciation - 2,000 - 1,620 Adjusted EBITDA - 3,715 - 4,078

(*) For layout purposes, Income Statement and Reconciliation Adjusted EBIT are abbreviated as "Inc. Stmt." and "Recon. Adj'd EBIT", respectively."

3. The section "Reconciliation of results" on page 58 of the Supplemented Prospectus shall be supplemented by inserting the following after the paragraph reading "Information for the periods ended 30 June 2019 and 30 June 2018 have been extracted from the Unaudited Consolidated Interim Financial Statements from 1 January to 30 June 2019 of Lufthansa Group":

"Information for the periods ended 30 September 2019 and 30 September 2018 have been extracted from the Unaudited Consolidated Interim Financial Statements from 1 January to 30 September 2019 of Lufthansa Group."

4. The penultimate paragraph of the section "Organisational Structure" on pages 59-60 of the Supplemented Prospectus shall be replaced by the following:

"The Catering segment is made up of the LSG Group, which consists of more than 150 companies with catering facilities and numerous partnerships at more than 200 airports worldwide per year end 2018. The segment includes, inter alia, the brands 'LSG Sky Chefs' and 'Ringeltaube'. Lufthansa is in the process of selling the catering segment. Beginning of December 2019 an asset and share purchase 9

agreement regarding the European business of LSG Group (including the divisions Spiriant, Ringeltaube and Lounge) was concluded. The sale is subject to cartel clearance. The sale of the rest of the world catering business shall start beginning 2020 (for further details please refer to the section "Trend Information - Recent Events")."

5. The section "Business Overview – Principal Activities of Lufthansa AG and Lufthansa Group – Network Airlines business segment" on pages 60-61 of the Supplemented Prospectus shall be supplemented by the following: a) After footnote (5) of the second table, it shall be inserted:

"Total Network Airlines business segment Total (1) Jan. Sept. 2019 (2) Jan. - Sept. 2018 (unaudited) (unaudited) Revenue EUR million 17,661 17,094 Adjusted EBITDA (3) EUR million 2,833 3,190 Adjusted EBIT (4) EUR million 1,589 2,075 EBIT (5) EUR million 1,555 2,084 Passengers thousands 81,889 78,905 Passenger load factor % 82.8 82.0 Available seat-kilometers change in % 4.4 Revenue seat-kilometers change in % 5.4 Unit revenue (RASK) EUR Cent 8.0 8.0 Unit cost (CASK) excluding fuel EUR Cent 5.5 5.5

(1) A translation of the figures from Lufthansa German Airlines, SWISS and Austrian Airlines to the Network Airlines business is only possible when considering consolidation effects. (2) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (3) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (4) To calculate Adjusted EBIT, EBIT was adjusted for book gains and losses from the disposal of non-current assets, impairment losses and write-ups, as well as the measurement of pension obligations. For the detailed reconciliation of the Alternative Performance Measure "Adjusted EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference. (5) For the detailed reconciliation of the Alternative Performance Measure "EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27– p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference." b) After the second table on page 61 of the Supplemented Prospectus, it shall be inserted:

Jan. - Sept. 2019 (1) Jan. - Sept. 2018 "Lufthansa German Airlines (unaudited) (unaudited) Revenue EUR million 12,327 11,951 Adjusted EBITDA EUR million 1,932 2,202 10

Adjusted EBIT EUR million 1,110 1,458 EBIT EUR million 1,083 1,462 Passengers thousands 54,624 53,159 Passenger load factor % 82.6 81.9 Available seat-kilometers change in % 4.1 Revenue seat-kilometers change in % 5.1

Jan. - Sept. 2019 (1) Jan. - Sept. 2018 "SWISS (unaudited) (unaudited) Revenue EUR million 3,899 3,679 Adjusted EBITDA EUR million 756 751 Adjusted EBIT EUR million 458 505 EBIT EUR million 455 505 Passengers thousands 16,495 15,580 Passenger load factor % 84.0 83.7 Available seat-kilometers change in % 6.1 Revenue seat-kilometers change in % 6.5

"Austrian Airlines Jan. - Sept. 2019 (1) Jan. - Sept. 2018 (unaudited) (unaudited) Revenue EUR million 1,630 1,665 Adjusted EBITDA EUR million 143 237 Adjusted EBIT EUR million 17 110 EBIT EUR million 14 116 Passengers thousands 11,217 10,632 Passenger load factor % 81.2 79.6 Available seat-kilometers change in % 3.1 Revenue seat-kilometers change in % 5.1

6. The section "Business Overview – Principal Activities of Lufthansa AG and Lufthansa Group – Eurowings business segment" on pages 61-62 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (4) of the second table:

"Eurowings business segment Jan. - Sept. 2019 (1) Jan. - Sept. 2018 (unaudited) (unaudited) Revenue EUR million 3,243 3,240 Adjusted EBITDA (2) EUR million 247 179 Adjusted EBIT (3) EUR million -104 -98 EBIT (4) EUR million -107 -98 Passengers thousands 29,744 29,344 Passenger load factor % 82.8 82.1 Available seat-kilometers change in % 0.9 Revenue seat-kilometers change in % 1.7 Unit revenue (RASK) EUR Cent 6.8 6.8 Unit cost (CASK) excluding fuel EUR Cent 5.5 5.6

(1) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) To calculate Adjusted EBIT, EBIT was adjusted for book gains and losses from the disposal of non-current assets, impairment losses and write-ups, as well as the measurement of pension obligations. For the detailed reconciliation of the Alternative Performance Measure "Adjusted EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference. (4) For the detailed reconciliation of the Alternative Performance Measure "EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference."

7. The section "Business Overview – Aviation Services – Logistics business segment" on page 62 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (4) of the second table:

"Logistics Business Segment Jan. - Sept. 2019 (1) Jan. - Sept.- 2018 (unaudited) (unaudited) Revenue EUR million 1,836 1,960 Adjusted EBITDA (2) EUR million 83 238 Adjusted EBIT (3) EUR million -33 162 EBIT (4) EUR million -40 159 Cargo load factor % 60.3 65.8 Available cargo tonne-kilometers change in % 8.9 Revenue cargo tonne-kilometers change in % -0.2

the detailed explanation see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) To calculate Adjusted EBIT, EBIT was adjusted for book gains and losses from the disposal of non-current assets, impairment losses and write-ups, as well as the measurement of pension obligations. For the detailed reconciliation of the Alternative Performance Measure "Adjusted EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference. (4) For the detailed reconciliation of the Alternative Performance Measure "EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference."

8. The section "Business Overview – Aviation Services – MRO business segment" on page 63 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (4) of the second table:

Jan. - Sept. 2019 (1) Jan. - Sept. 2018 "MRO Business Segment (unaudited) (unaudited) Revenue EUR million 5,149 4,530 of which with companies of the Lufthansa Group EUR million 1,945 1,636 Adjusted EBITDA (2) EUR million 523 429 Adjusted EBIT (3) EUR million 371 337 EBIT (4) EUR million 371 337

(1) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) To calculate Adjusted EBIT, EBIT was adjusted for book gains and losses from the disposal of non-current assets, impairment losses and write-ups, as well as the measurement of pension obligations. For the detailed reconciliation of the Alternative Performance Measure "Adjusted EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference. (4) For the detailed reconciliation of the Alternative Performance Measure "EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference." 13

9. The section "Business Overview – Aviation Services – Catering business segment" on pages 63- 64 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (4) of the second table:

"Catering business segment Jan. - Sept. 2019 (1) Jan. - Sept. 2018 (unaudited) (unaudited) Revenue EUR million 2,508 2,413 of which with companies of the Lufthansa Group EUR million 555 531 Adjusted EBITDA (2) EUR million 180 146 Adjusted EBIT (3) EUR million 93 99 EBIT (4) EUR million 52 94

(1) IFRS 16 was initially applied as of January 2019 using the modified retrospective approach, in accordance with the transitional provisions of IFRS 16. The comparative figures for the financial year 2018 were therefore not adjusted. For the detailed explanation see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (IFRS 16, p. 20 et seq.). (2) "Adjusted EBITDA" is defined as Adjusted EBIT plus depreciation and amortisation. Depreciation and amortisation includes write-downs of tangible and intangible assets and of current and non-current financial assets, as well as impairments of investments accounted for using the equity method and of assets held for sale. Adjusted EBITDA should not be considered by investors as an alternative to Lufthansa AG's profit/loss from operating activities or profit/loss from ordinary activities as an indication of operating performance, or as an alternative to cash flows from operating activities as indication of cash flows. (3) To calculate Adjusted EBIT, EBIT was adjusted for book gains and losses from the disposal of non-current assets, impairment losses and write-ups, as well as the measurement of pension obligations. For the detailed reconciliation of the Alternative Performance Measure "Adjusted EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference. (4) For the detailed reconciliation of the Alternative Performance Measure "EBIT" see Unaudited Consolidated Interim Financial Statements 1 January to 30 September 2019 (Segment Information for the Reporting Segments, p. 27 – p. 28) and Audited Consolidated Financial Statements 2018 (Segment Information for the Reporting Segments, p. 158 – p. 159), which are incorporated by reference."

10. The last paragraph of the section "Business Overview – Aviation Services – Additional Businesses and Group Functions" on page 64 of the Supplemented Prospectus shall be supplemented by the following:

"As per 30 September 2019, Adjusted EBIT for the Additional Business and Group Functions fell by 56% to EUR -169 million (previous year EUR -108 million)."

11. The section "Business Overview – Aircraft Fleet" on page 65 of the Supplemented Prospectus shall be supplemented by inserting the following after footnote (1) of the second table:

"As of 30 September 2019, the Lufthansa Group had a total fleet comprising 766 aircraft. Of these aircraft, 364 were held by Lufthansa German Airlines (including regional partners). Additional 105 aircraft were held by SWISS, 81 were held by Austrian Airlines, 195 were held by Eurowings, including Brussels Airlines, and 21 were held by Lufthansa Cargo. Of these aircraft, about 14% were subject to operating leases. As of 30 September 2019, the average age of the Lufthansa fleet was around 12.1 years. With more than 75%, the majority of the Lufthansa fleet is financially unencumbered. The table below shows the commercial aircraft fleets of Lufthansa and its Group companies as of 30 September 2019. This table does not indicate whether Lufthansa or one of its Group companies holds legal title to the aircraft, nor does it indicate whether the aircraft are actually in operation. 14

Planned Changes as additions Manufacturer Group thereof of 31 Dec. Q3 2019 to Additional /Model Operator fleet Leases (1) 2018 2027 Options LH* LX* OS* EW* LCAG*

Airbus A319 30 3 7 73 113 37 -2 Airbus A320 97 29 23 77 226 33 +4 81 17 Airbus A321 67 9 6 5 87 2 +4 44 Airbus A330 15 16 22 53 12 -4 1 Airbus A340 33 9 1 43 -1 Airbus A350 15 15 +3 30 10 Airbus A380 14 14 Boeing 747 32 32 Boeing 767 6 65 Boeing 777 10 6 10 26 +3 22 27 Boeing 787 0 20 20 Boeing MD-11F 11 11 -1 Airbus A 220 (formerly Bombardier C-Series 29 29 +1 1 30 Bombardier CRJ 35 35 Bombardier Q-Series 16 17 33 17 -5 Embraer 26 17 43 Total aircraft 364 105 81 195 21 766 106 199 104

*) LH refers to Lufthansa German Airlines (including regional partners); LX refers to SWISS including Edelweiss; OS refers to Austrian Airlines; EW refers to Eurowings including Brussels Airlines; and LCAG refers to Lufthansa Cargo. (1) From 1 January 2019, operating leases are recognised as finance leases pursuant to IFRS 16 and are therefore consolidated under "Leases"."

12. The section "Business Overview – Market Environment and Competition" on pages 65-66 of the Supplemented Prospectus shall be replaced by the following:

"According to the International Air Transport Association ("IATA"), 4.5% more passenger-kilometers were sold year-to-date in the first nine months of 2019. Growth was therefore notably weaker compared to the previous year (Jan.-Sept. 2018: 6.7%). The European business in the first nine months of the financial year 2019 have been marked by price erosion due to overcapacities throughout the market and the general economic downturn in the Group’s home markets. The European aviation industry grew by 6.8% on average within the years 2014 to 2018, measured by Revenue Passenger Kilometers ("RPK") growth. The GDP (Gross Domestic Product) in Europe grew respectively by 1.9%. Thereby, the RPK growth was 3.6 times higher than the GDP growth, according to the IATA (Industry Statistics June 2019)."

13. The section "Business Overview – Market Environment and Competition – Network Airlines business segment" on page 66 of the Supplemented Prospectus shall be supplemented by the following: a) After the first paragraph of this section, it shall be inserted:

"Together, the network airlines hold 550 aircrafts per end of September and comprised 270 destinations in 105 countries according to the summer flight timetable 2019 by the international hubs Frankfurt, Munich, Zurich and Vienna. In 2018, the network airlines welcomed 104 million passengers. In addition, 15

Lufthansa German Airlines has been awarded as "Europe's Best Airline" as one of the world airline winners by the international air transport rating organisation Skytrax. Furthermore, Lufthansa German Airlines has been awarded the "2019 Airline of the Year" by Air Transport World." b) At the end of the fifth paragraph of this section, it shall be inserted:

"These extended partnerships strengthen Lufthansa Group's network, competitive position, and revenue quality due to a joint capacity management, joint pricing, joint product strategy, mutual market access, and last but not least revenue sharing."

14. The section "Business Overview – Market Environment and Competition – Eurowings business segment" on pages 66-67 of the Supplemented Prospectus shall be supplemented by the following:

"Eurowings is working on a turnaround plan, which aims to refocus on short-haul flights and to transfer commercial responsibility for long-haul business to Network Airlines business segment. It also aims to increase the productivity, decrease overhead costs, improve digital sales channels, as well as to modernize and harmonize the fleet."

15. The first paragraph of the section "Business Overview – Market Environment and Competition – Logistics business segment" on page 67 of the Supplemented Prospectus shall be replaced by the following:

"Global airfreight volumes (FTK) rose by 3.6% in 2018 after an extraordinary 9.9% growth in 2017 (IATA Air Freight Market Analysis 12 / 2018). Measured by international freight-tonne-kilometers transported, Lufthansa Cargo offers connections to more than 300 destinations in around 100 countries and the subsidiary heyworld offers tailored solutions for the e-commerce business."

16. The section "Trend Information – Known trends affecting the Issuer and the industries in which it operates" on page 68 of the Supplemented Prospectus shall be supplemented by the following: a) After the fifth paragraph of this section, it shall be inserted:

"The oil price increased in the first half of 2019 from USD 53.80/barrel of Brent Crude on 31 December 2018 to USD 66.78/barrel. The average price over the first half of 2019 was USD 66.12/barrel, which is 7% lower than in the previous year. The jet fuel crack, the price difference between crude oil and jet fuel, was 3% lower year on year. Overall, oil prices will remain exposed to geopolitical developments, however." b) After the seventh paragraph of this section, it shall be inserted:

"The Lufthansa Group uses standard market instruments for fuel hedging and hedges fuel price risks mostly by utilising option structures. As of 30 September 2019, around 79% of the forecast fuel requirement for the remaining year 2019 and around 65% of the forecast fuel requirement for the year 2020 were hedged. As of 30 September 2019, Lufthansa Group expects fuel expenses of around EUR 6.8 billion for the year 2019. This forecast is based on the expected fuel consumption, existing hedges, Brent crude oil forward prices and EUR/USD forward exchange rates."

17. The section "Trend Information – Recent Events" on page 69 of the Supplemented Prospectus shall be supplemented by the following:

Group to focus on the airline business. Following on 7 December 2019 the Lufthansa Group and gategroup concluded a purchase agreement for the European business of the LSG Group. The sale is subject to the approval of the relevant competition authorities. In addition to the LSG Group’s European catering operations, the purchase agreement extends to its lounge business, retail convenience food specialist Evertaste, the SPIRIANT equipment business and the retail outlets and operations of the Ringeltaube brand. The businesses concerned currently employ some 7,100 personnel and generated revenues of around EUR 1.1 billion last year – about a third of the LSG Group’s total revenue volume. Part of the purchase agreement which was signed on 7 December 2019 consists of a long-term contract for gategroup to cater LH flights at the Lufthansa Group’s Frankfurt and Munich hubs and SWISS flights at Zurich hub. The sale of the remaining part of the LSG Group should be initiated early next year. On 3 December 2019, the Supervisory Board of Lufthansa AG decided to realign the Executive Board. As of 1 January 2020, the Executive Board will be expanded to include the board-level position "Customer & Corporate Responsibility". Christina Foerster, CEO Brussels Airlines, has been appointed to the board for this task; her contract has a term of three years. Among other things Christina Foerster will be responsible for "Cultural Development" and will head the "Corporate Responsibility" department. Going forward, Harry Hohmeister will be responsible for the coordination of network planning, revenue management, distribution and sales for all of the Group's passenger airlines as head of the "Commercial Passenger Airlines" division. Due to the great importance of IT, digitalization and innovation, responsibility for these topics will be bundled in a newly created department "IT, Digital & Innovation" in future, to be headed by Thorsten Dirks. The Supervisory Board has also decided to consistently structure the Executive Board according to functional criteria. As a result, "Eurowings" will no longer be managed as a separate board-level division. As of 1 January 2020, the "HR & Legal" department will be headed by Michael Niggemann, CFO of SWISS. He was also appointed to the Executive Board for three years. Bettina Volkens, who was previously responsible for "HR & Legal" on the Executive Board, will leave the company by mutual agreement on 31 December 2019."

18. The section "Financial Information concerning Lufthansa Group's Assets and Liabilities, Financial Position and Profit and Losses" on page 75 of the Supplemented Prospectus shall be supplemented by inserting the following after the last paragraph of this section:

"The unaudited consolidated interim financial statements of Lufthansa Group for the period ended on 30 September 2018 and 30 September 2019 are incorporated by reference into this Prospectus."

19. The penultimate sentence of the second paragraph of the section "Legal and arbitration proceedings – Lufthansa Cargo AG" on pages 75-76 of the Supplemented Prospectus shall be replaced by the following:

"Lufthansa Group and Deutsche Bahn have settled their dispute in August 2019."

20. The second, third and fourth paragraph of the section "Legal and arbitration proceedings – Labour Proceeding against the Seniority Rules of Austrian Airlines" on page 76 of the Supplemented Prospectus shall be replaced by the following:

"Furthermore, one pilot argues, that the seniority system of the Collective Agreement has to determine that all pilots who accepted a mutual termination of their contracts due to Art 86 of Collective Agreement should be listed as NEW pilots and therefor lose their seniority ranking position. This procedure would have a significant impact provided the claimant is successful. Austrian succeeded finally and conclusive in all instances. Meanwhile two additional law suits have been filed: In a new law suit a pilot claims a salary compensation (difference between Mainline and a Regional Captains salary). He argues that the differentiation between Regional and Mainline based on the seating capacity is unlawful. Furthermore he claims that it is a breach of the Collective Agreement to restrict internal job postings (Stellenausschreibungen) to particular homebases (here: VIE). Austrian Airlines won in the first instance but the filing of an appeal is expected. In the second law suit a Regional-Captain claims the right to be promoted to the Embraer-fleet (Mainline). He argues that he was unlawfully overtaken due to an infringement of the seniority rules of the collective agreement. Austrian objected that the claimant unlawfully restricted his application by only 17

accepting an Embraer position while refusing Airbus. Thus he waved his rights for a promotion to the Mainline. Austrian won the first instance. The filing of an appeal is highly expected. The law proceedings, if lost, might have an impact on the the system of internal staffing and cause further law suits."

21. The first paragraph of the section "Legal and arbitration proceedings – Tax Proceedings" on page 77 of the Supplemented Prospectus shall be replaced by the following:

"Lufthansa Group is engaged in tax proceedings with the tax office in Cologne-Altstadt at the Federal Fiscal Court regarding several tax matters, in particular, the deductibility of write-downs on cross-border inter-company loans granted by Lufthansa Group originating in the years between 2001 and 2005. In its financial accounts for the first half year of 2019, the Lufthansa Group shows an additional tax expense for its tax risk of EUR 340 million relating to this open tax matter in Germany. Past judgments by the competent Fiscal Court and the Supreme Tax Court had confirmed the Company’s legal opinion in principal. However, the Supreme Tax Court has recently repealed the case law established in prior years in a comparable case which led Lufthansa to reassess this tax risk. After the hearing at the Federal Fiscal Court in June 2019, the court has decided to refer back the Lufthansa case to the Local Fiscal Court in Cologne. Another tax proceeding at the Local Fiscal Court in Cologne is pending and relates to the years 2006 to 2009. The main controversial issues are the acquisition costs of a foreign subsidiary, the tax exemption of certain dividends and the deductibility of certain accruals. While Lufthansa Group believes that it has valid arguments supporting its position in this case, it is not possible to determine the final outcome of the case at this stage."

22. The section "Significant change in Lufthansa's financial or trading position" on page 77 of the Supplemented Prospectus shall be replaced by the following:

"There has been no significant change in the financial or trading position of Lufthansa since 30 September 2019."

23. The first sentence of the first paragraph of the section "Additional Information – Share Capital" on page 77 of the Supplemented Prospectus shall be replaced by the following:

"As of 30 November 2019, Lufthansa AG's issued capital amounts to EUR 1,224,177,297.92 divided into 478,194,257 shares, each with a notional value of EUR 2.56 and is fully paid up."

24. The section "Additional Information – Net Indebtedness of the Lufthansa Group" on page 78 of the Supplemented Prospectus shall be supplemented by the following: a) After footnote (2) of the second table, it shall be inserted:

"The valuation of Lufthansa Group's pension obligations is highly influenced by the respective interest rate to calculate the present value of the pension obligations according to International Financial Reporting Standards as adopted by the European Union ("IFRS"). As of 30 September 2019, the interest rate used for calculating the present value of the pension obligations was at 1.1%, which is 90 basis points lower than at year-end 2018.

in EUR million 30 September 2019 (1) (unaudited) 31 December 2018 Change in % Liabilities to banks 2,125 1,957 +8.6 Bonds 1,002 1,007 -0.5 Liabilities for right of use (IFRS 16) 2,284 n/a n/a Other borrowings 4,213 3,721 +13.2 Other bank borrowings 34 39 -12.8 18

in EUR million 30 September 2019 (1) (unaudited) 31 December 2018 Change in % Group indebtedness 9,658 6,724 +43.6 Cash and cash equivalents 927 1,500 -38.2 Securities 2,648 1,735 +52.6 Net indebtedness (2) 6,083 3,489 +74.3 Pension provisions 7,914 5,865 +34.9 Net indebtedness and pensions 13,997 9,354 +49.6

"As of 31 October 2019, all maturities of Lufthansa Group's financial liabilities until 2028 are as follows (nominal values):

in EUR million

Year Bond "Schuldscheindarlehen" Hybrid Bond Other Maturities (1) Sum 2019 0 183 183 2020 652 485 1,137 2021 466 500(2) 457 1,423 2022 425 353 778 2023 104 475 579 2024 500 396 412 1,308 2025 0 321 321 2026 34 315 349 2027 0 264 264 2028 0 212 212

(1) Predominantly Aircraft Financing. (2) First Call Date in 2021; maturity in 2075. Lufthansa Group uses diversified long term debt financings. As of 30 November 2019, Lufthansa Group has closed 18 JOLCOs for aircraft financing in 2019, thereof five in January (EUR 209 million), one in March (EUR 124 million), six in April (EUR 345 million), and six in October (EUR 353 million). Furthermore in 2019, Lufthansa Group has issued a EUR 800 million unsecured "Schuldscheindarlehen" (fix/floating) with maturities of three and five years in April, an EUR 438 million unsecured "Schuldscheindarlehen" in June, and another EUR 165 million "Schuldscheindarlehen" in August. Moreover, Lufthansa Group has issued a senior unsecured bond in September 2019 with a volume of EUR 500 million." 19

25. The following new section shall be inserted after the section "Additional Information – Net Indebtedness of the Lufthansa Group" on page 78 of the Supplemented Prospectus:

"Environment Social Governance (ESG) Sustainable and responsible entrepreneurial practice is an integral part of Lufthansa Group's corporate strategy. Since 25 years Lufthansa Group is publishing its sustainability report "Balance", starting 2020 a new board resort "Customer & Corporate Responsibility" is created. Concrete measures of Lufthansa Group include inter alia, the continuous investment in modern fleet to reduce CO2 emission. In addition, the Lufthansa Group offers its customers the option to compensate on a voluntary basis a large part of the CO2 emissions that are unavoidably caused by their flights and thus to make a personal contribution to climate protection. Since 2007, Lufthansa and SWISS have cooperated with the climate protection foundation myclimate for this purpose. The Lufthansa Group underscored the importance of diversity and equal opportunities over 20 years ago by creating the management function "Change Management and Diversity" and promoting equal career opportunities for men and women. The help alliance is the Lufthansa Group's central corporate citizenship pillar. The charitable aid organization acts as a catalyst for greater social engagement, combining proven projects initiated by employees with the power and network of the Lufthansa Group. The Lufthansa Group Code of Conduct, which was adopted in 2017 and internally and externally communicated in 2018, contains the principles and guidelines that are binding for all bodies, executives and employees in daily business life. The code also serves as an aid to orientation for business partners."

26. The section "Material Contracts" on page 79 of the Supplemented Prospectus shall be supplemented by the following:

"Lufthansa Hub Catering Contract (LHCC) As part of the sale of LSG Group's European business to gategroup in early December 2019 and subject to the closing of the sale which is expected within the first half year 2020, Lufthansa concluded a long- term contract ("LHCC") with gategroup to cater Lufthansa flights at the Lufthansa Group’s Frankfurt and Munich hubs and SWISS flights at its Zurich hub. The LHCC is a modular contract and covers food production, catering logistics and other catering services. The sale of LSG Group's European business to gategroup is subject to fulfilment of certain closing conditions, amongst them being the approval of the European Commission. As a consequence, the commencement of the LHCC is also dependent on the closing of the sale. During an initial transition phase business disruptions and quality issues might occur post-closing which shall be mitigated by a joint venture structure of Lufthansa and gategroup governing the future catering activities in Frankfurt and Munich. Further on, joint implementation teams will be formed and joint contingency plans will be in place."

27. The section "Material Contracts – Additional sources of funding" on page 79 of the Supplemented Prospectus shall be replaced by the following:

"As per 11 December 2019, the Lufthansa Group has bilateral credit lines totaling EUR 798.5 million with a large number of banks. As of today, none of these lines of credit lines are being used. They have a scheduled tenure of two years and may be extended for another two years after the first year. In addition, Lufthansa Group holds a Multi-Currency Commercial Paper Programme with a volume of up to EUR 1,000,000,000."

IV. Replacement and supplemental information pertaining to RISK FACTORS REGARDING DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT AND LUFTHANSA GROUP

1. The first sentence of the first paragraph of the section "Political and geopolitical conditions could change." on page 32 of the Supplemented Prospectus shall be replaced by the following:

"There is a high level of uncertainty regarding the global economic outlook. Significant downside risks stem e.g. from the consequences of the Brexit vote, from political uncertainty (e.g. the recent developments in Hong Kong and Chile) and from an increasing trend towards populism." 20

2. The second paragraph of the section "The European sovereign debt crisis has not been fully resolved yet and could still curtail Lufthansa Group's financing options and increase its financing costs." on page 33 of the Supplemented Prospectus shall be replaced by the following:

"Lufthansa Group's purchase commitments for capital expenditure on property, plant and equipment and for intangible assets as of 30 September 2019 totaled up to EUR 14.2 billion. For firm orders placed for aircraft, based on current expectations and depending on the delivery dates for the aircraft, approximately EUR 2.1 billion will be due in 2020, approximately EUR 2.7 billion will be due in 2021, and approximately EUR 2.5 billion will be due in 2022. Future orders for aircraft could also require considerable additional financing. Whether Lufthansa Group will be able to borrow the necessary funds at suitable terms depends on a number of factors, including prevailing interest rates, conditions in the capital markets, and its credit rating. Obtaining financing could become more difficult or more expensive, or could prove impossible. If Lufthansa Group is unable to borrow sufficient funds at suitable terms to meet its financing needs, it could have a material adverse effect on Lufthansa Group's financial condition and results of operations."

3. The first sentence of the section "Consolidation in the aviation market could lead to increased competition for Lufthansa and playing an active role in the market consolidation could lead to write downs and future losses." on page 36 of the Supplemented Prospectus shall be replaced by the following:

"The European aviation market currently undergoes significant consolidation. In particular, due to the insolvency filings of Alitalia, Air Berlin, Germania and Thomas Cook, shifts in market shares occurred and led to new market entries and stronger market positions of airlines which were previously not as active in Lufthansa's main markets."

4. The section "Commitments in binding aircraft orders could prove less profitable than expected at the time of ordering." on pages 37-38 of the Supplemented Prospectus shall be supplemented by inserting the following new paragraph after the second paragraph of that section:

"As of 30 September 2019, the Lufthansa Group's order book totals 199 aircraft for delivery by 2027. In particular, Lufthansa Group ordered 22 aircraft of the Boeing B777 family, 20 Boeing B787 "Dreamliner", 30 Airbus A350 and 1 used Airbus A330 for the long-haul fleet and 125 aircraft of the Airbus A320 family and 1 Airbus A220 (formerly Bombardier C Series) for the short-haul fleet. Lufthansa Group may order additional aircraft in the future, which could substantially increase its financing requirements."

5. The section "Lufthansa Group's pension obligations could substantially increase and exceed the provisions it has recognised for these obligations in its accounts." on pages 45-46 of the Supplemented Prospectus shall be supplemented by inserting the following new paragraph after the last paragraph of that section:

"As of 30 September 2019, the pension provisions of the Lufthansa Group were EUR 7,914 million (as of 31 December 2018: EUR 5,865 million)."

V. Supplemental information pertaining to DOCUMENTS INCORPORATED BY REFERENCE

1. The first five paragraphs on page 178 of the Supplemented Prospectus shall be supplemented by the following:

"the published unaudited interim report of Lufthansa AG (English language version) dated for the period from 1 January – 30 September 2019; the published unaudited consolidated interim financial statements of Lufthansa Group (English language version) dated for the period ended on 30 September 2018 and 30 September 2019;" 21

2. The section "Comparative Table of Documents incorporated by Reference" on pages 178-179 of the Supplemented Prospectus shall be supplemented by the following:

Page Section of Prospectus Document incorporated by reference

57 Deutsche Lufthansa "Unaudited Consolidated interim Financial Statements Aktiengesellschaft as 1 January – 30 September 2019 of Lufthansa Group (p. Issuer, Financial 14 – p. 29) Information • Consolidated statement of financial position (p. 16 – p. 17), • Consolidated income statement (p. 14) • Statement of comprehensive income (p. 15), • Consolidated statement of changes in shareholders' equity (p. 18), • Consolidated cash flow statement (p. 19), • Notes (p. 20 – p. 29) • Declaration by the legal representatives (p. 30)"

NAMES AND ADDRESSES

THE ISSUER Deutsche Lufthansa Aktiengesellschaft Venloer Str. 151-153 50672 Cologne Federal Republic of Germany

FISCAL AGENT Deutsche Bank Aktiengesellschaft Taunusanlage 12 60325 Frankfurt am Main Federal Republic of Germany

LUXEMBOURG LISTING AGENT Deutsche Bank Luxembourg S. A. 2 Boulevard Konrad Adenauer 1115 Luxembourg Luxembourg