HUGO BOSS AG

Investor Presentation • May 6, 2025

© 2022 HUGO BOSS

FIRST QUARTER 2025 RESULTS

MAY 6, 2025

Q1

FULL YEAR 2022 RESULTS FIRST QUARTER 2025 RESULTS PAGE 2

FIRST QUARTER 2025 RESULTS

DANIEL GRIEDER, CEO Q1

© 2022 HUGO BOSS

SOLID Q1 PERFORMANCE AGAINST CHALLENGING MARKET BACKDROP

GROUP SALES

EUR MILLION VS. Q1 2024

(2)% (2)%

EUR MILLION VS. Q1 2024

INDUSTRY

ELEVATED MACROECONOMIC UNCERTAINTY WEIGHS ON GLOBAL CONSUMER SENTIMENT

SUBDUED CONSUMER SENTIMENT AFFECTS INDUSTRY DEVELOPMENT

STRONG FOCUS ON EXECUTING STRATEGIC INITIATIVES & DRIVING COST EFFICIENCY

© HUGO BOSS

HUGO BOSS

BOSS ONE BODYWEAR CAMPAIGN

STRATEGIC PARTNERSHIP WITH DAVID BECKHAM SUPPORTS BRAND MOMENTUM

BECKHAM X BOSS COLLECTION

© 2022 HUGO BOSS

STRONG

INITIAL SELL-THROUGH

BILLION IMPRESSIONS IN ONE MONTH ~3

BOSS AND HUGO WITH SOLID PERFORMANCE AGAINST BROADER CONSUMER HEADWINDS

Q1

REGIONAL PERFORMANCE IMPACTED BY SUBDUED CONSUMER SENTIMENT IN KEY MARKETS

(1)% VS. Q1 2024

Moderate sales decline in the U.S. market reflects softer consumer demand

Double-digit growth trajectory in Latin America maintained

* (1)% VS. Q1 2024 *

Sales in Germany on the prior-year level

Revenues in France and the UK slightly below last year

AMERICAS EMEA ASIA/PACIFIC

(8)% VS. Q1 2024 *

Weak consumer sentiment continues to weigh on local demand in China

Southeast Asia & Pacific continues growth trajectory, supported by robust performance in Japan Q1

*CURRENCY-ADJUSTED

GROWTH IN DIGITAL BUSINESS PARTIALLY OFFSETS SOFTER TRENDS IN B&M RETAIL AND B&M WHOLESALE

B&M RETAIL	B&M WHOLESALE	DIGITAL	BOSS halo store Shanghai
* (4)%	(3)% *	+4% *
VS. Q1 2024	VS. Q1 2024	VS. Q1 2024
Lower store traffic in key markets offsets higher sales per transaction	Market environment and slight delivery shift weigh on performance in Q1	Growth in Q1 driven by continued momentum in digital partner business

Q1

FURTHER EFFICIENCY GAINS IN SOURCING SUPPORT GROSS MARGIN DEVELOPMENT IN Q1

OPERATING EXPENSES REMAIN AT PRIOR-YEAR LEVEL DUE TO SUCCESSFUL EXECUTION OF COST EFFICIENCY MEASURES

SOURCING EFFICIENCIES AND RIGOROUS COST MANAGEMENT SUPPORT BOTTOM-LINE DEVELOPMENT

	Q1 2025	YOY CHANGE
GROSS MARGIN	61.4%	0 BP
OPERATING EXPENSES	EUR 552 MILLION	0%
OPERATING EXPENSES (IN % OF SALES)	55.2%	+60 BP
EBIT	EUR 61 MILLION	(12)%
EBIT MARGIN	6.1%	(70) BP
NET INCOME (ATTRIBUTABLE TO SHAREHOLDERS)	EUR 35 MILLION	(8)%
EARNINGS PER SHARE	0.51 EUR	(8)% © 2023 HUGO BOSS

DECLINE IN EBIT AND HIGHER CASH OUTFLOW IN TNWC WEIGH ON FREE CASH FLOW DEVELOPMENT

JAN.–MARCH 2025 CAPITAL

(29)%

33

EUR MILLION

EXPENDITURE

MARCH 31, 2025 TRADE NET WORKING CAPITAL

Inventories up 5%* given higher goods in transit and intentional increase in coverage due to tariff uncertainty

Decline reflects focus on driving CapEx efficiency, maintaining strong investment discipline

JAN.–MARCH 2025 FREE CASH FLOW

vs. EUR 13 MILLION JAN.–MARCH 2024

Free cash flow development reflects higher inventories and normalization in trade payables

OUR FOCUS IN 2025

Balanced focus on strategic investments and cost efficiency aimed at driving profitability improvements

Brand, product, and distribution initiatives to further fuel brand relevance of BOSS and HUGO

HUGO BOSS remains vigilant, closely monitoring elevated global uncertainties, including current tariff discussions

DIVERSIFIED REGIONAL SOURCING STRUCTURE AS A KEY ASSET IN DEALING WITH GLOBAL TRADE CONFLICTS

© 2022 HUGO BOSS

MEASURES TO MANAGE THE CURRENT UNCERTAINTY REGARDING U.S. TARIFFS

INTENTIONAL INCREASE IN INVENTORY COVERAGE IN THE U.S. IN Q1

PRODUCTS REROUTED FROM CHINA TO OTHER MARKETS

ONGOING OPTIMIZATION OF VENDOR BASE

EVALUATION OF DEMAND-SENSITIVE PRICING ADJUSTMENTS

HUGO BOSS CONFIRMS OUTLOOK FOR 2025

2025

© 2022 HUGO BOSS

SALES

(2)% TO +2% 4.2 TO 4.4 EUR BILLION 2025E +5% TO +22% 380 TO 440 EUR MILLION 2025E EBIT

FY 2025 ASSUMPTIONS

MACROECONOMIC BACKDROP TO REMAIN VOLATILE

HIGH UNCERTAINTY AROUND FURTHER COURSE OF TARIFF DISCUSSIONS

MUTED CONSUMER SENTIMENT TO IMPACT INDUSTRY DEVELOPMENT

FOCUS ON BRAND AND PRODUCT INITIATIVES TO SUPPORT TOP-LINE

TARGETED SOURCING AND COST EFFICIENCIES TO SUPPORT MARGINS

© 2022 HUGO BOSS

HUGO BOSS

IS WELL POSITIONED TO NAVIGATE EXTERNAL CHALLENGES WHILE SEIZING GROWTH OPPORTUNITIES

Ivica Maric EVP Business Operations

Christian Stöhr

IF YOU'D LIKE TO ASK A QUESTION, PRESS * FOLLOWED BY 1

© 2022 HUGO BOSS

© 2022 HUGO BOSS PAGE 20

FORWARD-LOOKING STATEMENTS CONTAIN RISKS

This document contains forward-looking statements that reflect management's current views with respect to future events. The words "anticipate", "assume", "believe", "estimate", "expect", "intend", "may", "plan", "project", "should", and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties. If any of these or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made.