ACCENT GROUP LIMITED — Annual Report 2025

Aug 21, 2025

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FY2025 Results Year ended 29 June 2025

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The Accent growth journey	2
Value creation and investor value proposition	3
Operational highlights	4
FY25 sales and profit	5
FY25 summary of financial performance	6
Operating Review	7
Dividends and trading update	13
Appendix	15

Accent Group FY2025 Results Presentation

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The Accent growth journey
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$1.6b sales inc.
franchisees [1]
+58%
Demonstrated track $1,393 $1,435 $1,458
record of retail sales $968 $1,103
growth driven by
store rollout and new
banners
FY21 FY22 FY23 FY24 FY25
638 Stores 762 Stores 821 Stores 895 Stores 892 Stores
Expansion of omni-
channel capabilities and
contactable customer 17 websites >9m CUSTOMERS 31 websites
database 4.8m contactable >10m contactable
customers customers
Driving Growth
Through Distributed 12 distribution
Brands and agreements
Partnerships
Apparel and vertical
sales growth strategy
3% of sales 7% of sales c.9% of sales
1. Includes stores and digital sites, non-IFRS measure
Owned Sales ($millions)
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Accent Group FY2025 Results Presentation

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Value creation and investor value proposition
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Total Shareholder Return[(][1)] comparison of Accent and the ASX200 (30 June 2015 to 30 June 2025)

Total Shareholder Return(1)comparison of Accent and the ASX200 (30 June 2015 to 30 June 2025)	Total Shareholder Return(1)comparison of Accent and the ASX200 (30 June 2015 to 30 June 2025)
Total Shareholder Return since 30 June 2015: Accent Group:9.7% (Annualised Return) ASX200 Index:10.3% (Annualised Return) (50.0%) 0% 50% 100% 150% 200% 250% 300% 350% 2015 2016 2018 2019 202 AX1	0 2022 2023 2025 ASX200 151.5% 166.3%

Accent Group has a unique value and investor proposition in the ANZ market, characterised by:

• Significant scale in the ANZ performance and lifestyle footwear market with 892 direct to consumer stores (including owned stores, franchise stores and websites) and 1,200 wholesale customers with more than 2,000 consumer direct points of sale

• Access to more than 10 million customers across digital, retail and wholesale channels

• Exclusive brand distribution agreements across 12 global brands

• A growing portfolio of owned vertical brands in apparel, footwear and accessories

• Best in class omnichannel operational capabilities

Source: Bloomberg.

1. Assumes 100% dividend reinvestment on the ex-dividend date.

Accent Group FY2025 Results Presentation

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Operational highlights
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Total Sales (inc. Franchisees) Retail Owned Sales
$1.62 billion [1]
$1.30 billion [1]
+0.8% on FY24
+2.5% on FY24
LFL Sales Vertical Sales Store Network
892
c.$130
+0.7% [2] stores across Australia &
million New Zealand with 54 new
on FY24
c.9% of total sales stores opened during
FY25
Distributed Brands Customers & Loyalty Strategic Partnership TAF Buyback
>10 million
contactable customers 15 reacquisitions completed
with Frasers Group signed in
to commence in FY26 FY25 during FY25
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1. Financial results for the 52 weeks ended 29 June 2025, are presented on a statutory post AASB 16 basis unless otherwise noted.

2. Like-for-Like (“LFL”) sales include TAF Franchisee sales, measurement is based on the year-on-year sales comparison for all stores in which a sale has been recorded on the same day in the prior year.

Accent Group FY2025 Results Presentation

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FY25 sales and profit
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$’000’s Key Metrics	FY251 FY24	% Change
Group Sales (inc. Franchisees)	1,621,202 1,608,100	0.8%
EBITDA	288,831 293,687	(1.7%)
EBIT	110,2042 110,394	(0.2%)
PBT	81,996 84,416	(2.9%)
NPAT	57,660 59,530	(3.1%)
Net debt	(100,033) (122,202)
Full Year Dividend	7.0 cents 13.00 cents

1. Financial results for the 52 weeks ended 29 June 2025, are presented on a statutory post AASB 16 basis unless otherwise noted.

2. EBIT of $110.2 million includes $3.3 million (H1) of non-recurring items relating to the reversal of a historical impairment of the Hype brand carrying value of $9.7 million, the impairment of a number of underperforming Vans stores of $3.8 million and one-off costs and trading losses of $2.6 million relating to the discontinuation of the CAT brand distribution and the divestment of The Trybe.

Accent Group FY2025 Results Presentation

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FY25 summary of financial performance
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Financial Summary— FY25 Vs FY24

Financial Summary— FY25 Vs FY24	Financial Summary— FY25 Vs FY24	Financial Summary— FY25 Vs FY24
%
Profit & Loss ($000's)	FY251	FY24 Change
Owned sales Gross profit Gross margin (%) CODB– excl. lease depreciation & interest CODB %– excl. lease depreciation & interest CODB % Other income– inc. royalties and franchise fees	1,458,337 800,777 54.9% (529,871) 36.3% 46.6% 17,925	1,434,898 1.6% 800,144 55.8% (85bps) (525,911) 36.7% (32bps) 45.9% 75bps 19,454
EBITDA	288,831	293,687 (1.7%)
Depreciation on leases Depreciation & amortisation	(131,182) (47,445)	(115,200) (68,093)
EBIT	110,204	110,394 (0.2%)
Net finance costs on lease liabilities Net interest (paid) / received	(17,378) (10,830)	(16,798) (9,180)
PBT	81,996	84,416 (2.9%)
Tax	(24,336)	(24,886)
Net Profit After Tax	57,660	59,530 (3.1%)

1. Financial results for the 52 weeks ended 29 June 2025, are presented on a statutory post AASB 16 basis unless otherwise noted.

2. The Like-for-Like measurement includes the year-on-year sales comparison for all stores in which a sale has been recorded on the same day the prior year.

Operating Highlights

• Total company owned sales of $1.46 billion

• Sales • Like for Like (LFL) retail sales[2] up 0.7% (H1:+2.9%, H2: -1.7%)

• • Gross margin of 54.9% down 85 basis points to prior year.

• • Gross margins in FY25 were impacted by the

• Gross challenging consumer environment and

• Margin heightened promotional activity. The Company maintained disciplined inventory management, which placed additional downward pressure on margins.

• • Cost efficiency initiatives continued in noncustomer facing areas including (but not limited

• CODB to) lease renewals, support office team costs and distribution costs.

• •

• NPAT NPAT of $57.7 million

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Accent Group FY2025 Results Presentation

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Operating Review

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Retail, Wholesale & Vertical Owned Brands
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Retail

• Owned Retail sales of $1.3 billion, up 2.5% on FY24.

• 54 new stores added to the Accent Group network in FY25 with 39 closures from discontinued brands & Glue (The Trybe: 17, CAT: 8, Glue: 14) and 18 closures from other Accent banners where sustainable rent outcomes could not be achieved.

• Strong retail performance across Hype, TAF, Nude Lucy and others.

• 44 Nude Lucy stores now open with consistently growing results YoY.

Wholesale

• Wholesale sales of $155 million.

Store Network[1]

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+54
895 -18 892
-39
821
762
638
Discontinued
FY21 FY22 FY23 FY24 Opened Closed FY25
& Glue
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1. Includes store closures and websites. For a breakdown by banner refer to page 11

Vertical Owned Brands

• Continued growth in Vertical Owned sales.

• Sales of c.$130 million, representing c.9% of total owned sales.

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Vertical Owned Brands Sales

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($ Millions)
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$126m c.$130m
$105m
$75m
$26m
FY21 FY22 FY23 FY24 FY25
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Accent Group FY2025 Results Presentation

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Growth plan
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Sports Direct
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New Stores
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Distributed
Brands
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• ➢ Sports Direct roll out on track.

• ➢ At least 50 Sports Direct stores planned to open over the next six years.

• ➢ At least 4 stores including online are expected to open in FY26 . The first store will launch in Fountain Gate , Victoria in November 25.

• ➢ New online site to launch by November 25.

• ➢ The business expects to incur various costs associated with the establishment and growth in Sports Direct ahead of the sales.

• ➢ Continued roll-out of new stores, with 54 stores opened in FY25, at least 30 new stores are planned in FY26 (excluding Sports Direct).

• ➢ The Company sees a continued store roll-out opportunity in both its core banners and new businesses.

• ➢ Skechers distribution agreement has been extended to a 10 year term out to 2035.

• ➢ Continued growth planned from our new distributed brands, HOKA and UGG .

• ➢ Lacoste and Dickies will contribute from FY26.

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Accent Group FY2025 Results Presentation

8[9]

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Growth plan (continued)
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Nude Lucy
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• ➢ Nude Lucy is highly profitable and continues to resonate well with its loyal and growing customer base .

• ➢ The brand now has 44 stores trading (including online)

• ➢ 7 stores were added in FY25 with further stores planned.

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Stylerunner
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• ➢ Well positioned in the premium athleisure market, this brand continues to grow, with 9 stores opened in FY25 bringing the total up to 36 at the end of FY25.

• ➢ Further stores planned in FY26 .

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The Athlete’s
Foot
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• ➢ Franchisee reacquisitions are on track with 15 stores acquired in FY25.

➢ 45 Franchisee stores remain as at the end of FY25.

• ➢ A further 13 reacquisitions are planned in FY26.

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Accent Group FY2025 Results Presentation

8[10]

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Frasers Group Strategic Partnership
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Sports Direct across the Globe

Strategic Rationale

500+

UK stores

Wider variety of sports, athleisure and sports fashion products at affordable prices compared to competitors

1. Strategic alliance with 2. Operation of market Frasers Group leading global brand

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275+
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Europe stores

46 Asia stores

• Existing strong global brand recognition which builds trust and value perception

• Innovative store designs providing an engaging customer shopping experience blending physical and digital experiences

Ability to attract a broader customer base and maintain customer loyalty

3. Strong strategic alignment with Accent Group

4. Expansion into

complimentary and attractive market

5. Creates significant opportunity for growth

Sports Direct brand offering

Market opportunity

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The Australian and New Zealand sports market estimated at $5bn+

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1. Select brands shown
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Sports Direct rollout is on track

• Sports Direct Australia digital site will be trading by November 2025.

The Group can announce that it has signed the lease of its first store located in Fountain Gate, expected to open in November 2025.

• By the conclusion of FY26, the Group is expected to open at least 4 stores (including one digital store).

• 50 stores in the first 6 years , with an opportunity of 100 over time.

Accent Group FY2025 Results Presentation

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The Athlete’s Foot Update
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Strong 5-Year Performance

• Driven by margin expansion, successful franchise reacquisition strategy & operational efficiencies

Increased Margin

• Due to increased mix of distributed and vertical brands

Franchise Reacquisition Update

• 90 stores acquired to date

• The Company has determined not to renew franchise agreements at expiry

• The 15 FY25 reacquisitions contributed $42.5m in annualised sales at a cost of $21.4m (inclusive of $4.0m in stock)

• Intend to acquire the remaining 45 Australian franchisees over the next five years. These locations generated $135 million of sales in FY25.

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160
146
14 NZ
12 Corporate Stores
+103
115 101 AU
Corporate
Stores
90
134 reacquisitions
to date
15
45 reacquisitions
in FY25
FY17 FY25
Franchise Corporate
Physical Stores
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TAF Chadstone
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Accent Group FY2025 Results Presentation

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Dividends and trading update

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Dividends and trading update
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• Final dividend of 1.5 cents per share fully franked to be paid on 25 September 2025 to registered shareholders as of 28 August 2025 .

• Dividends • Total dividends (fully franked) for the year of 7.0 cents per share.

• • Total owned sales (ex. discontinued) for the first 7 weeks of FY26 are up 2% to last year. We have seen some early signs that our lifestyle banners including Platypus and Skechers are back to growth with sports and performance banners continuing to grow. We have a strong pipeline of committed

• Trading Update wholesale orders.

• • LFL retail sales for the first 7 weeks of FY26 are up 0.8% on the prior year.

• The company is targeting high-single digit EBIT growth in FY26 (inclusive of the startup costs associated with Sports Direct). The outlook for H1 FY26 EBIT is for a similar level of EBIT to H1 FY25 then growth in H2 FY26.

• Outlook • This target is based on achieving low single digit LFL sales growth, growth from new and annualising stores, incremental profit from The Athlete’s Foot franchise acquisition program, new distributed brands and continued growth in Hoka and Nude Lucy. Gross margin % and CODB % are planned to be broadly flat to FY25. The projection includes the impact of start up costs for Sports Direct.

Accent Group FY2025 Results Presentation

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Appendix

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Store Network and Distribution Agreements
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Store Network

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1. Includes websites (31) and franchises (45)

2. Discontinuation of CAT and The Trybe business

Distribution Agreements

Total Distribution Agreements: 12

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Accent Group FY2025 Results Presentation

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Gross margin and FX rate
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Statutory Gross Margin % and FX Rate Overview

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59% 0.80
58%
0.75 0.75
57%
0.74 0.75
56%
0.71
0.70
55%
0.70 0.70
0.70
54%
0.67
53% 56.1% 56.1% 0.66
55.8% 55.8%
55.2%
54.8% 54.9%
0.65
54.2%
52%
52.7%
51%
50% 0.60
FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25
Gross Margin FX Rate Achieved
Gross Margin %
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Accent Group FY2025 Results Presentation

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Balance sheet
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Commentary Balance Sheet • Inventory increase from FY24 mainly attributed to Goods in Transit (+$14.0m), The Athlete’s Foot reacquisition program (+$4.0m), the strategic partnership with Frasers Group (+$3.7m), with the remaining largely associated with timing of new stock purchases. • Intangible asset increase from 1 July 2024 predominantly driven by TAF Franchise Buyback Goodwill ($11m) and Software ERP system upgrades ($7m). $000's 29 Jun 2025 FY25 29 Dec 2024 FY25 30 Jun 2024 FY24 Trade receivables and prepayments 40,817 54,893 43,158 Inventories 308,556 285,960 264,844 Trade payables and provisions (223,948) (203,470) (173,685) Net working capital 125,425 137,383 134,317 Intangible assets 416,282 399,194 384,014 Property, plant and equipment 111,465 120,800 121,403 Capital investments 527,747 519,994 505,417 Lease receivable 16,411 17,456 15,943 Right of use asset 285,933 283,723 265,413 Lease liabilities (396,066) (407,466) (391,950) Lease balances (93,722) (106,287) (110,594) Net cash/(debt) (100,033) (115,897) (122,202) Deferred income (12,694) (15,285) (12,939) Tax and derivatives 28,367 26,316 24,806 Net assets/equity 475,090 446,224 418,805	Commentary Balance Sheet • Inventory increase from FY24 mainly attributed to Goods in Transit (+$14.0m), The Athlete’s Foot reacquisition program (+$4.0m), the strategic partnership with Frasers Group (+$3.7m), with the remaining largely associated with timing of new stock purchases. • Intangible asset increase from 1 July 2024 predominantly driven by TAF Franchise Buyback Goodwill ($11m) and Software ERP system upgrades ($7m). $000's 29 Jun 2025 FY25 29 Dec 2024 FY25 30 Jun 2024 FY24 Trade receivables and prepayments 40,817 54,893 43,158 Inventories 308,556 285,960 264,844 Trade payables and provisions (223,948) (203,470) (173,685) Net working capital 125,425 137,383 134,317 Intangible assets 416,282 399,194 384,014 Property, plant and equipment 111,465 120,800 121,403 Capital investments 527,747 519,994 505,417 Lease receivable 16,411 17,456 15,943 Right of use asset 285,933 283,723 265,413 Lease liabilities (396,066) (407,466) (391,950) Lease balances (93,722) (106,287) (110,594) Net cash/(debt) (100,033) (115,897) (122,202) Deferred income (12,694) (15,285) (12,939) Tax and derivatives 28,367 26,316 24,806 Net assets/equity 475,090 446,224 418,805	Commentary Balance Sheet • Inventory increase from FY24 mainly attributed to Goods in Transit (+$14.0m), The Athlete’s Foot reacquisition program (+$4.0m), the strategic partnership with Frasers Group (+$3.7m), with the remaining largely associated with timing of new stock purchases. • Intangible asset increase from 1 July 2024 predominantly driven by TAF Franchise Buyback Goodwill ($11m) and Software ERP system upgrades ($7m). $000's 29 Jun 2025 FY25 29 Dec 2024 FY25 30 Jun 2024 FY24 Trade receivables and prepayments 40,817 54,893 43,158 Inventories 308,556 285,960 264,844 Trade payables and provisions (223,948) (203,470) (173,685) Net working capital 125,425 137,383 134,317 Intangible assets 416,282 399,194 384,014 Property, plant and equipment 111,465 120,800 121,403 Capital investments 527,747 519,994 505,417 Lease receivable 16,411 17,456 15,943 Right of use asset 285,933 283,723 265,413 Lease liabilities (396,066) (407,466) (391,950) Lease balances (93,722) (106,287) (110,594) Net cash/(debt) (100,033) (115,897) (122,202) Deferred income (12,694) (15,285) (12,939) Tax and derivatives 28,367 26,316 24,806 Net assets/equity 475,090 446,224 418,805	Commentary Balance Sheet • Inventory increase from FY24 mainly attributed to Goods in Transit (+$14.0m), The Athlete’s Foot reacquisition program (+$4.0m), the strategic partnership with Frasers Group (+$3.7m), with the remaining largely associated with timing of new stock purchases. • Intangible asset increase from 1 July 2024 predominantly driven by TAF Franchise Buyback Goodwill ($11m) and Software ERP system upgrades ($7m). $000's 29 Jun 2025 FY25 29 Dec 2024 FY25 30 Jun 2024 FY24 Trade receivables and prepayments 40,817 54,893 43,158 Inventories 308,556 285,960 264,844 Trade payables and provisions (223,948) (203,470) (173,685) Net working capital 125,425 137,383 134,317 Intangible assets 416,282 399,194 384,014 Property, plant and equipment 111,465 120,800 121,403 Capital investments 527,747 519,994 505,417 Lease receivable 16,411 17,456 15,943 Right of use asset 285,933 283,723 265,413 Lease liabilities (396,066) (407,466) (391,950) Lease balances (93,722) (106,287) (110,594) Net cash/(debt) (100,033) (115,897) (122,202) Deferred income (12,694) (15,285) (12,939) Tax and derivatives 28,367 26,316 24,806 Net assets/equity 475,090 446,224 418,805
$000's	29 Jun 2025 FY25	29 Dec 2024 FY25	30 Jun 2024 FY24
Trade receivables and prepayments Inventories Trade payables and provisions	40,817	54,893	43,158
	308,556	285,960	264,844
	(223,948)	(203,470)	(173,685)
Net working capital	125,425	137,383	134,317
Intangible assets Property, plant and equipment
	416,282	399,194	384,014
	111,465	120,800	121,403
Capital investments	527,747	519,994	505,417
Lease receivable Right of use asset Lease liabilities
	16,411	17,456	15,943
	285,933	283,723	265,413
	(396,066)	(407,466)	(391,950)
Lease balances	(93,722)	(106,287)	(110,594)
Net cash/(debt) Deferred income Tax and derivatives
	(100,033)	(115,897)	(122,202)
	(12,694) 28,367	(15,285) 26,316	(12,939) 24,806
Net assets/equity	475,090	446,224 418,805

Accent Group FY2025 Results Presentation

18

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The Accent business model
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Accent Group’s mission is to be the market leading, digitally integrated retail and distribution business, in the performance lifestyle market for footwear, apparel and accessories across Australia and New Zealand.

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Global
Distributed
Brands
Retail
861 Retail Stores
and 31 Online Sites
Wholesale
14 Wholesale
Vertical
Brands
Apparel
Owned
Brands
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The Accent Business model

Scalable, flexible and defensible

Multi-Brand Retail Banners

Range global third-party brands, global distributed brands, and owned vertical brands and products through online and stores

Global Distributed Brands

Dedicated retail stores and online sites, as well as wholesale customer channels

Vertical Apparel Owned Brands

Supports margin growth and product differentiation in multi-brand banners, as well as having dedicated online sites

Accent Group FY2025 Results Presentation

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Notice and disclaimer
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• This presentation has been prepared by Accent Group Limited ABN 85 108 096 251 ( Accent Group or Company ) and is general background information in relation to Accent Group and its activities current as at the date of this presentation. It is information given in summary form and does not purport to be complete. Information in this presentation should not be considered as advice or a recommendation to investors or potential investors and does not take into account any particular investment objectives, financial situation or needs. Before acting on any information, investors should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, should seek independent financial and legal advice.

Important Notice and Disclaimer

• This presentation may contain forward looking statements including, without limitation, statements regarding our current intent, beliefs or expectations with respect to Accent Group’s businesses and operations. Readers are cautioned not to place undue reliance on these forward-looking statements. Accent Group does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements or to otherwise update any forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this presentation. Actual results may vary materially in a positive or negative manner. Forward looking statements and hypothetical examples are subject to known and unknown risks, uncertainties and other factors, many of which are beyond Accent Group’s control. The forward-looking statements in this presentation reflect views held only as at the date of this presentation. The operating and financial performance of Accent Group are influenced by a variety of general economic, market and business conditions, including levels of consumer spending, inflation, interest and exchange rates, access to debt and capital markets, and government fiscal, monetary and regulatory policies. Past performance and forecasts are not reliable indications of future performance.

• Accent Group Limited or its directors, officers, employees, agents or contractors makes no representation or warranty (either expressed or implied) as to the fairness, accuracy, completeness or correctness of all or any part of this presentation, or the likelihood of fulfilment of any future looking statement or any events or results expressed or implied in any forward-looking statement. To the full extent permitted by law, Accent Group disclaims any liability in connection with this presentation and any obligation or undertaking to release any updates or revisions to the information contained in this presentation to reflect any change in expectations or assumptions.

Accent Group FY2025 Results Presentation