Salvatore Ferragamo

Investor Presentation • Jul 31, 2025

9M 2024 RESULTS UPDATE REVENUE UPDATE H1 2025 RESULTS UPDATE H1 2025 RESULTS UPDATE H1 2025 RESULTS UPDATE

ANALYST PRESENTATION ANALYST PRESENTATION ANALYST PRESENTATION ANALYST PRESENTATION

JULY 31, 2025 JULY 31, 2025 JULY 31, 2025

OCTOBER 15, 2024

DISCLAIMER

This presentation contains forward-looking statements regarding future events and results of the Company that are based on the current expectations, projections and assumptions of the management of the Company.

The actual results may differ materially from those expressed in any forward-looking statement and the Company does not assume any liability with respect thereto.

This document has been prepared solely for this presentation and does not constitute any offer or invitation to sell or any solicitation to purchase any share in the Company.

The Manager in Charge of preparing the Company financial reports hereby certifies pursuant to paragraph 2 of art. 154-bis of Legislative Decree no. 58 of February 24, 1998, that the accounting disclosures of this document are consistent with the accounting documents, ledgers and entries.

We have already started implementing tangible changes and are confident that these efforts will become increasingly effective by the end of this year and then even more in 2026 .

With respect to our product offer, we are working on recognizable aesthetics, leveraging on our heritage symbols and codes . The focus remains on our core leather offering , shoes and leather goods, enhancing desirability through craftsmanship and innovation . Our goal is to deliver a global assortment, partially diversified by geography , ensuring a stronger alignment with our target clients . This will be achieved through a more punctual and efficient collection structure, featuring higher depth, fewer SKUs, and an optimized pricing architecture .

We are revising our storytelling through a global communication strategy with local amplifications , coordinating all touchpoints while boosting clienteling initiatives, like in -store events, collaborations and more targeted, relevant and efficient digital content Our better targeting and clearer narrative has significantly increased the efficiency of our marketing spend .

We will continue to optimize our wide store network , while advancing the renovation plan also via cost -effective actions and attractive visual merchandising . We keep also boosting our online presence and, as a result, net sales on ferragamo .com have shown a double -digit increase in the first half of the year . On wholesale, we are progressively focusing on key accounts .

While the geopolitical and macroeconomic environment remains uncertain, we will continue to strengthen our strategic positioning, to convey a clear brand image, consistent with our core clientele expectations, ensuring the alignment of style, product and communication tools . We will keep on executing with operational flexibility and financial discipline, optimizing our cost structure to reflect current business needs without compromising on future growth . This will be achieved through a comprehensive revision of all company's expenses and processes .

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H1 2025 BUSINESS UPDATE H1 2025 BUSINESS UPDATE H1 2025 BUSINESS UPDATE

2025 | Restating the Ferragamo reason-whyto regain interest

2025 | Ferragamo Values as the Foundation of our Brand proposition

PIONEERING SPIRIT / INNOVATION	LOVE / PASSION / CREATIVITY	THE SEARCH FOR EXCELLENCE / CRAFTMANSHIP	AESTHE THICS TALIANITY	UNIQUENESS AUTHENT CITY
the CORE VALUE behind the founders' story and independence of the brand	the ESSENTIAL VALUE that keeps everything moving - the underdog	the KEY VALUE to be credible and accredited	the MEANININGFUL VALUE to express a recognizable style	The SERVICE: the exclusive experience we HAVE To have this !!!

7

2025 | Working on clear Business Priorities

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2025 | Revisiting our Heritage

OUR CORE VALUES

C R A F T M A N S H I P, C R E AT I V I T Y, I N N O V AT I O N , M A D E I N I TA LY, AT T E N T I O N T O D E TA I L S , Q U A L I T Y, C O M F O R T

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2025 | Reviving our Product Offer

FOCUS ON OUR CORE CATEGORIES G LOBAL ASSORTMENT TAILORED TO GEOGRAPHIC SPECIFICATIONS AND IMPROVED COLLECTION EFFICIENCY

2025 | Consistent Narrative with a Full funnel Approach

FIAMMA FRAGRANCE LAUNCH WW	TRAMEZZA EVENT SALONE DEL MOBILE	BACK TO EARTH SUSTAINABLE CAPSULE COLLECTION	PF25 WW (CHAPTER 1)	THE MET GALA	MOTHER'S AND FATHER'S DAY (COMMERCIAL)	CNY 520 (COMMERCIAL)	PF25 WW (CHAPTER 2)	COMMUNITY ACTIVATIONS

Q2 MAIN ADV CAMPAIGNS AND EVENTS

GLOBAL COMMUNICATION STRATEGY WITH LOCAL AMPLIFICATIONS PRODUCT AS PROTAGONIST AND FULL FUNNEL CONTEXTUAL CONTENT

| Revising Narrative - PF25 ADV Campaign

CELEBRATING OUR UNIQUE, OWNABLE IDENTITY BETWE E N FLORE NCE & HOLLYWOOD CO H ESIVE I M AG E ACROSS TOU CH PO I NTS B OOSTS PRO D U CT D E SI R AB I LITY & E N G AG E M E NT.

| PF25 ADV Campaign - Chapter 1, L'appuntamento

REVISITING OUR CINEMATIC HERITAGE PRODUCT AND CRAFTMANSHIP AS PROTAGONIST

| PF25 ADV Campaign - Chapter 2, Avventura

MODERN AND ENGAGING CONTENT WITH HIGH ROI FOCUS ¹⁴

| PF25 ADV Campaign - Chapter 3, Doppio Sogno

TH R E E CH APTE RS TO D R IVE CU STO M E R E N G AG E M E NT, R E CRU IT N EW CU STO M E RS AND AVOID CAMPAIGN FATIGUE

| PF25 ADV boosting Brand Visibility

• Strong branding moments
• Strong increase in impressions and number of views Solid engagement

Higher views and engagement, in particularly around Cannes and the Female Quotient collaboration

• Print up double-digit VLY
• Quality editorials updriving visibility

In store activation Primary B&M – YTD

• Nr. of activities implemented WW and new registered prospects up double-digit
• Increase in new clients acquired and net revenues generated

Strong increase in Open rate and Influenced revenues

E-BUSINNESS | PERFORMANCE

• Double-digit increase in Traffic, positive in all regions in Q2, thanks to full funnel media campaign
• Double-digit increase in Net sales, driven by Europe, US and Latin America
• Higher Order number and value, with strong performance of handbags

IMPROVED PERFORMANCES ON CLIENTELING, NEWSLETTER & DIGITAL SHOW INCREASE IN MARKETING SPEND EFFICIENCY THROUGH TARGETED APP ROACH

Q2 | The Met Gala

D R IVE AWA R E N E S S A N D CU LTU R A L R E LEVA N CE WITH STRO N G CO M M E RCI A L CO M PO N E NT

| Community Engagement

NEW CUSTOMER ACQUISITION ACTIVITIES WITH HIGHLY TARGETTE D, QUALITATIVE CO MMUNITY E NGAGE MNT

| PF25 Eyewear Collection - Hollywood Reframed

NEW CUSTOMER ACQUISITION AND CONSISTENT BRAND EXPERIENCE THROUGH LICENCES ¹⁹

| Celebrating 40 Years of Porsche Italia

NEW CUSTOMER ACQUISITION AND VISIBILITY FERRAGAMO AND PORSCHE - TWO ICONIC BRANDS SHARING THE SAME VALUES OF DESIGN EXCELLENCE, CRAFTSMANSHIP AND COURAGE TO INNOVATE

| Elevate In-store Experience

INCHEON (SOUTH KOREA) Shinsegae Airport T1

QINGDAO (CHINA) Hisense Plaza Mall

NEW STORE CONCEPT

| Elevate In-store Experience

LAS VEGAS (USA) Caesars Forum Shops

SHANGHAI (CHINA) Hongqiao Domestic Airport T2

NEW STORE CONCEPT

| Elevate In-store Experience

FRANKFURT (GERMANY) Frankfurt Airport T1 JINAN (CHINA)

NEW STORE CONCEPT

| Retail Evolution

STORE VISUAL DISPLAY ENERGIZED TO IMPROVE IMAGE AND CROSS & UP S ELLING

| ESG Achievements

RATINGS AND ACKNOWLEDGEMENTS

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| BACK TO EARTH Capsule collection

HARMONY BETWEEN ETHICS AND AESTHETICS, BETWEEN FUNCTION AND FORM

H1 2025 RESULTS

* "NON-AUDITED"

9M 2024

REVENUE *

business.

H1 2025 REVENUE BY DISTRIBUTION CHANNEL

1. Other income includes: Hedging, licenses & other revenues, rental income investment properties

2. YoY var at Constant FX calculated only on licenses & other revenues and rental income investment properties components

H1 2025 Total Net Revenues down 9% (-7% at const. FX), penalized in particular by the deteriorating consumer environment, the challenging wholesale scenario and the persistent weakness of the Asia Pacific area. In Q2 Total Net Revenues down 15% (-12% at const. FX), mainly penalized by the wholesale

DTC*, at const. FX down 5% vs. H1 2024, with the positive results in Europe and Latin America only partly offsetting the negative performance in Asia Pacific and Japan.

In Q2 DTC* down 5% at const. FX, only slightly deteriorating vs. Q1, despite the harder comparison base, mainly due to the worsening performances in Europe and Japan, driven by lower tourists' purchases, compensated by improving trends in North America, Latin America and Asia Pacific.

WHL, at const. FX, down 14% in H1 2025 and down 30% in Q2 vs. Q2 2024, mainly due to the challenging wholesale environment.

^* DTC (Direct To Consumer) channel consists of directly operated mono-brand stores (DOS), as well as e-commerce platforms of direct to customers online sales.

EMEA down 9% in H1 2025, with positive DTC* performance offset by negative Wholesale.

In Q2 DTC* down 4% vs. Q2 2024, mainly due to lower tourists' purchases vs. Q1 2025, while very negative Wholesale brought total Net Sales down 20% vs. Q2 2024.

North America down 1% in H1 2025, with DTC* in line with last year, driven by primary.

In Q2 positive DTC*, slightly accelerating vs. Q1, was offset by negative Wholesale, which drove total Net Sales down 3% vs. Q2 2024.

Latin America up 12% in H1 2025, with DTC* up doubledigit and Wholesale down low-single digit vs. H1 2024. In Q2, ongoing double-digit performance of the DTC* partly penalized by negative Wholesale, and total Net Sales up 11% vs. Q2 2024.

Asia Pacific down 16% in H1 2025, due to the ongoing weak consumer environment significantly impacting traffic. In Q2, improvement registered in DTC* vs. Q1 offset by Wholesale deterioration, bringing total Net Sales down 19% vs. Q2 2024.

Japan down 5% in H1 2025, due to the deteriorating trend in Q2 (-13% vs. Q2 2024), mainly due to the harder comparison base and lower Chinese tourists' purchases.

Note: all data at const. FX.

29 * DTC (Direct To Consumer) channel consists of directly operated mono-brand stores (DOS), as well as e-commerce platforms of direct to customers online sales. Primary DTC consists of directly operated mono-brand primary stores and e-commerce platforms of direct to customers online sales, while secondary DTC consists of directly operated mono-brand outlet stores.

H1 2025 NET SALES BY PRODUCT

YOY var, % Shoes down 13% in H1 2025, with the deteriorating trend in Q2 (-16%) mainly due to Wholesale.

Leather Goods and Handbags in H1 2025 in line with last year, with the deteriorating trend in Q2 (-8%), mainly due to Wholesale.

Silk & Other Accessories down 6% in H1 2025.

RTW down 9% in H1 2025 .

Note: all data at const. FX.

* DTC (Direct To Consumer) channel consists of directly operated mono-brand stores (DOS), as well as e-commerce platforms of direct to customers online sales. Primary DTC consists of directly operated mono-brand primary stores and e-commerce platforms of direct to customers online sales, while secondary DTC consists of directly operated mono-brand outlet stores.

Gross Margin H 1 2025 Gross Profit at €321 M ( -15 % vs . H 1 2024 ) with 67 . 7 % incidence on Revenues, vs . 72 . 1 % in H 1 2024 , mainly due to the negative FX impact and higher provision for inventory obsolescence related to products of previous collections .

DTC/WHL mix positive H 1 2025 total Operating Costs, excluding €41 M related to write -down from the Impairment Test mainly related to assets in China and Korea, at 324 million Euros ( - 7 % vs . H 1 2024 and - 6 % at const . FX), thanks to the focus on cost control . Including the Impairment Test charge, in H 1 2025 total Operating Costs at €365 M (+ 4 % vs . H 1 2024 ) .

H 1 2025 EBIT adjusted, excluding €41 M of Impairment Test charge negative for € 3 M vs . €28 M positive in H 1 2024 . Including the Impairment Test impact EBIT negative for €44M.

FX negative

H1 2025 Net Profit including Minority Interest, negative for €57 M vs . € 6 M positive in H 1 2024 . Excluding Impairment Test charge, H 1 2025 Net Profit negative for €16 M .

H1 2025 P&L

June YTD

(Euro MM)	2025	%	2024	%	Δ %
Net Revenues	473.9	100.0%	523.1	100.0%	-9.4%
Cost of goods sold	(153.1)	-32.3%	(145.8)	-27.9%	5.0%
Gross profit	320.8	67.7%	377.4	72.1%	-15.0%
Total operating costs	(365.0)	-77.0%	(349.7)	-66.8%	4.4%
EBIT	(44.1)	-9.3%	27.7	5.3%	nm
Impairment	(41.2)	-8.7%	-		nm
EBIT w/o Impairment	(2.9)	-0.6%	27.7	5.3%	nm
Financial income (expenses)	(10.3)	-2.2%	(2.0)	-0.4%	>100%
Financial ROU	(10.7)	-2.3%	(11.0)	-2.1%	-2.3%
Profit before taxes	(65.2)	-13.7%	14.7	2.8%	nm
Income taxes	7.7	1.6%	(9.0)	-1.7%	nm
Net income	(57.5)	-12.1%	5.7	1.1%	nm
Group net income	(57.5)	-12.1%	5.7	1.1%	nm
Income to minorities	-		0.0	0.0%	nm
EBITDA	72.5	15.3%	117.2	22.4%	-38.1%

H1 2025 BALANCE SHEET

(Euro MM)	June 25 YTD	June 24 YTD	%
Tangible assets	180.6	219.0	-17.5%
Intangible assets	34.9	38.8	-9.9%
Right of Use	464.0	584.8	-20.7%
Financial assets	-	-
Fixed assets	679.5	842.6	-19.3%
Inventory	309.1	318.4	-2.9%
Trade receivables	75.9	91.5	-17.0%
Trade payables	(141.4)	(142.0)	-0.5%
Operating working capital	243.7	267.9	-9.1%
Other assets (liabilities)	192.9	138.6	39.2%
Net Asset Disposal for Sales	0.1	0.1	-8.7%
Employee Benefit Liabilities	(5.6)	(6.3)	-11.0%
Provisions for risks and charges	(20.3)	(23.0)	-11.7%
Net invested capital	1,090.2	1,219.9	-10.6%
Shareholders' equity (A)	598.0	707.8	-15.5%
Group equity	596.8	706.8	-15.6%
Minority interest	1.2	0.9	28.1%
Current financial liabilities	(206.6)	(223.8)	-7.7%
Non current financial liabilities	(495.8)	(560.1)	-11.5%
Cash & Cash equivalents	210.2	271.7	-22.7%
Net debt (B)	(492.3)	(512.1)	-3.9%
Financial sources (A-B)	1,090.2	1,219.9	-10.6%
Net debt (B)	(492.3)	(512.1)	-3.9%
Non Current Lease Liabilities	495.8	560.1	-11.5%
Current Lease Liabilities	115.8	119.2	-2.8%
Lease Liabilities	611.7	679.3	-10.0%
Net debt Adjusted	119.4	167.1	-28.6%

H1 2025 CAPEX at €16M vs. €21M in H1 2024, mainly for the renovation of the retail network.

Net Working Capital at 30 June 2025 down 9% vs. 30 June 2024.

Net Financial Position Adjusted* at 30 June 2025 positive for €119M vs. € 167M positive at 30 June 2024. Including IFRS16 effect, Net Financial Position at 30 June 2025 negative for €492M.

* Net Financial Position Adjusted is the Net Financial Position excluding Current and non-current Lease Liabilities.

DOS NETWORK @ 30.06.2025

9M 2024 Q&A Q1 2025 Q&A H1 2025 Q&A H1 2025 Q&A

9M 2024

Q&A

ANNEX

H1 2025 REVENUE BY DISTRIBUTION CHANNEL

		June YTD
				Δ %	Weight on	Weight on
(Euro MM)	2025	2024	Δ %	Const FX	Tot 2025	Tot 2024
DTC *	357.0	381.6	-6.5%	-5.0%	75.4%	73.0%
Wholesale	105.4	128.3	-17.9%	-14.0%	22.2%	24.5%
Net Sales	462.4	510.0	-9.3%	-7.2%	97.6%	97.5%
Hedging	1.5	3.0	-51.5%	na	0.3%	0.6%
Licences & Other Revenues	8.1	8.4	-3.5%	-3.5%	1.7%	1.6%
Rental income	1.9	1.7	11.3%	12.4%	0.4%	0.3%
Total Net Revenues	473.9	523.1	-9.4%	-7.1%	100.0%	100.0%

* DTC (Direct To Consumer) channel consists of DOS and directly managed online boutique/e-commerce platforms.