Aeffe

Investor Presentation • Mar 15, 2023

AEFFE GROUP FY Consolidated Revenues Presentation AEFFE GROUP FY Consolidated Results Presentation

15th March 2023

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This presentation does not constitute or form part of any offer to sell or invitation to purchase or subscribe for, or otherwise acquire or dispose of any Aeffe S.p.A. securities.

This presentation includes forward-looking statements which are based on the Company's management's current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are subject to risks and uncertainties. In light of these risks and uncertainties, the events described in such forward-looking statements may not occur and any targets or projections may differ materially from those expressed in or implied by these statements due to any number of different factors.

You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the dater of this presentation. Aeffe S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation.

Any reference to past performance or trends or activities of Aeffe Group shall not be taken as a representation or indication that such performance, trends or activities will continue in the future.

CONSOLIDATED REVENUES +8,4% at EUR 352 million (+7.7% at constant exchange rates)

EBITDA +0,6% at EUR 36 million (10.1% of revenues)

NET LOSS at EUR 9 million compared with a net profit of EUR 12 million in 2021 which included non-recurring tax benefits of 9.5 million euros.

FINANCIAL DEBT (net of IFRS16 effect) equal to EUR 127 million (EUR 93 million at December 31, 2021)

FINANCIAL DEBT (including IFRS16 effect) equal to EUR 232 million (EUR 169 million at the end of December 2021)

Euro millions

*At constant exchange rates

*At constant exchange rates

LEATHER GOODS

Before inter-divisional eliminations

Euro millions

Before inter-divisional eliminations

* +9.4 %

ASIA & ROW

USA Euro millions

*At constant exchange rates

Euro millions

EMARKET
SDIR
GERTIFIED

*At constant exchange rates

9

EMARKET
SDIR
GERTIFIED

FY REVENUES BY CHANNEL

RETAIL

ROYALTIES

Euro millions

* At constant exchange rates

REVENUES BY CHANNEL BY Q

Euro millions

$12$

EMARKET
SDIR
GERTIFIED

INC OME STATEMENT	FY 22	FY 21
Net S ales	352.0	324.6
% change	4% 8
Other Revenues	11.6	8.5
Total R evenues	363.6	333.1
% change	1% 9
Raw Materials C osts	(135.2)	(132.0)
S ervice C osts	(110.8)	(93.2)
C osts for use of third parties	(5.7)	(5.7)
P ersonnel	(69.9)	(63.1)
Other Operating E xpenses	(6.5)	(3.7)
Total Operating E xpenses	(328.0)	(297.8)
EB ITDA	35.6	35.3
(% sales) Margin of Net	1% 10	9% 10
Depreciation and A mortisation	(34.3)	(26.2)
EB IT	1.2	9.2
(% sales) Margin of Net	3% 0	8% 2
Net Financial Income / (E xpenses)	(5.0)	(2.9)
Profit before taxes	(3.8)	6.3
(% sales) Margin of Net	1%) (1	9% 1
Taxes	(5.3)	5.8
Net inc ome/(los s )	(9.1)	12.1
(% sales) Margin of Net	6%) (2	7% 3

(EUR MILLIONS)

BALANCE SHEET	2022Y	2021Y
Net W orking C apital	113.0	79.8
Net Tangible A ssets	61.3	58.8
Net Intangible A ssets	66.0	68.9
Net Intangible A ssets for Rights of use - IFRS 16	110.6	86.0
Net Financial A ssets	0.2	1.6
S everance S taff, P rovisions & Others	(9.5)	(6.1)
Net C apital Employed	341.6	288.9
S hareholders' E quity	109.8	120.2
Net financial Debt	126.9	93.1
Net financial debt for Lease liabilities - IFRS 16	104.9	75.7
Net Financial Debt and Shareholders' Equity	341.6	288.9
A ccounts Receivables	62.9	50.0
A ccounts P ayables	(88.6)	(78.7)
Inventory	116.7	91.4
Operating NW C	91.0	62.8
% of A LTM sales s	8% 25	3% 19
Other C urrent A ssets/Liabilities	22.0	17.1
Net W orking C apital	113.0	79.8

W O L F H S A C D E T A D
LI
O
S
N
O
C

CASH FLOW	2022Y	2021Y
PBT	(3.8)	6.3
Amortisation / write-downs	34.3	26.2
Accrual (+)/availment (-) of long term provisions	(0.3)	(0.2)
Paid income taxes	(2.2)	(1.4)
Financial income (-) and financial charges (+)	5.0	2.9
Change in operating assets and liabilities	(34.6)	15.0
Operating Cash Flow	(1.5)	48.7
Capital Expenditure	(8.8)	(2.2)
Capital Expenditure for Rights of use - IFRS 16	(47.7)	(1.7)
Free Cash Flow (Operating CF + Capital expenditure)	(58.1)	44.8
Changes in shareholders' equity	(1.3)	(70.7)
Proceeds (+)/ repayments (-) of financial payments	21.3	32.0
Proceeds (+)/ repayment (-) of lease payments	29.2	(12.5)
Increase (-)/ decrease (+) in long term financial receivables	4.3	0.8
Financial income (+) and financial charges (-)	(5.0)	(2.9)
Cash Flows from Financing Activities	48.5	(53.3)
Cash and cash equivalents at the beginning of the year	31.3	39.8
Cash Flow of the Period	(9.7)	(8.5)
Cash and cash equivalents at the end of the year	21.7	31.3

Aeffe SpA acquires the minority stake (30%) in Moschino S.p.A.

Moschino opens its first 21 store in China: a new Retail Project for the brand

New Moschino concept store opens in Via Spiga 26, Milan - Italy

Moschino and Altana signed an agreement to entrust the production, marketing, distribution and sale of clothing items relating to the Moschino Baby, Kids and Teen collections. Moschino Kids S.r.l. borns

Pantene & Moschino join together for second year of "stronger together" initiative and the launch of their first limited edition capsule collection

Moschino presents M05CH1N0 JEANS, a new line of ready-to-wear and women's accessories inspired by the tradition, history and culture of denim

JUNE 2022

SEPT 2022

OCT 2022

OCT 2022

NOV 2022

16

• Photovoltaic System in the two main facilities of the group with a total annual energy production equal to 750 MW (average of the last 3y of survey)
• Focus on setting internal ambitious goals for improving sustainability, starting from the «Pollini» production facilities in cooperation with University of Bologna

AEFFE ENVIRONMENT AEFFE PEOPLE & KNOW HOW AEFFE GOVERNANCE

• Focus on the entire Supply Chain optimization with strong involvement of suppliers and deep controls of raw material and processing

• Attention on employees healthy, safety and welfare

• Continuous investments in digitization and tech infrastructure

• Specific training for employees and managers on sustainability issues
• Procedures relating to data protection have been introduced