PRADA S.p.A. — Earnings Release 2014

Feb 22, 2015

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PRADA S.p.A.

Via A. Fogazzaro n. 28, Milan, Italy
Registry of Companies of Milan, Italy: No. 10115350158
(Incorporated under the laws of Italy as a joint-stock company)
(Stock Code: 1913)

PRELIMINARY SALES FIGURES

OF FINANCIAL YEAR 2014

This announcement is made pursuant to Rule 13.09 of the Listing Rules and Section 307B(1) of the Securities and Futures Ordinance. PRADA S.p.A. provides its preliminary sales figures for the financial year ended January 31, 2015.

PRADA S.p.A. (the "Company" and, together with its subsidiaries, the "Group") is pleased to announce the preliminary sales figures of the Group for the financial year ended January 31, 2015. This announcement is made pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and Section 307B(1) of the Securities and Futures Ordinance.

The preliminary sales reported by the Group for the financial year ended January 31, 2015 amount to Euro 3,552 million, slightly down compared to the previous financial year (-1%), both at current and constant exchange rates.

In line with our forecast and Group strategy which has, for some years, prioritized retail channel development, the wholesale channel ended financial year 2014 with sales of Euro 532 million, a decrease of 4% (-5% at constant exchange rates). This decrease is essentially due to the European and American markets where we continued our rationalization program. In contrast, there was strong sales growth for the network of franchise stores in the Asia Pacific region (DFS) which have benefited from an increasing flow of Chinese consumers.

As at January 31, 2015, the Group retail network comprised 594 DOS and its sales for the financial year then ended totaled Euro 2,981 million, broadly in line with financial year 2013 at both current exchange rates and constant exchange rates. There were clear differences between the various geographical

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areas: the growth recorded in Japan, the Americas and the Middle East was offset by a fall in sales in the Far East, where market conditions gradually deteriorated in the second half of the year.

In more detail:

• in Europe sales revenue decreased by 1% compared to the previous financial year because of a fall in the tourists' spending and a still weak domestic demand. However, the trend did improve in the fourth quarter when a sales increase was recorded;

• in the fourth quarter, the Americas market confirmed the strong performance recorded earlier in the year thanks to buoyant domestic consumption: the twelve months growth was 8% at current exchange rates (+7% at constant exchange rates);

• the situation was more difficult in Asia Pacific and sales for financial year 2014 were 5% down on prior year at current exchange rates (-7% at constant exchange rates). The fall in sales in this area originated primarily in Hong Kong and Macau where market conditions deteriorated significantly during the second half of the year. The different timing of the Chinese New Year also affected performance for the month of January throughout the Greater China area;

• the Japanese market continued its robust growth even in the fourth quarter. Sales for financial year 2014 as a whole increased by 8% at current exchange rates (+13% at constant exchange rates);

• there was healthy growth in the Middle East although performance was affected by a slump in the number of Russian tourists. Overall sales growth in the area amounted to 10% at current exchange rates (+9% at constant exchange rates).

The Prada brand now accounts for 83% of consolidated sales. In financial year 2014, it recorded a 1.7% decrease at current exchange rates (-1.6% at constant exchange rates) and performance varied from one geographical area to another, in line with the variations in total sales described above. The Men's segment achieved sales growth in all geographical areas.

Miu Miu recorded a 4% increase in sales at current exchange rates in financial year 2014 (+4.4% at constant exchange rates). Except for Europe, the brand achieved good rates of growth on all markets, including the Far East.

Sales increases were also achieved by both Church's, +14.8% at current exchange rates (+12.2% at constant exchange rates), and Car Shoe, +12.7% at current exchange rates (+11.5% at constant exchange rates).

Mr. Patrizio Bertelli, Chief Executive Officer of the Company, commented: "Throughout financial year 2014, we operated under a geopolitical and

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monetary environment which was more uncertain and complex than could have been envisaged. This situation has temporarily held up the Group's path of growth, but it will not affect our medium/long-term growth objectives. We shall continue to pursue said objectives, adapting our strategy and organizational structure to the constantly evolving global environment. Thanks to operational decisions taken in recent years, we now have a balanced, global retail presence which enables us to maintain and develop direct relations with our customer base and makes a daily contribution to broadening the image of our brands around the world. The Group's medium-term plan shall continue with the focused industrial, marketing and retail investments needed to guarantee solid future growth. The closest attention is always paid to costs, in order to safeguard profit margins and yield satisfactory returns on investments".

The information contained in this announcement is based on a preliminary assessment of the management accounts of the Group for the financial year ended January 31, 2015, which have not been audited or reviewed by the Company's auditors. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

The audited consolidated results of the Group for the financial year ended January 31, 2015 are tentatively scheduled to be announced by the Company on March 26, 2015.

By Order of the Company
PRADA S.p.A.
Mr. Carlo Mazzi
Chairman

Milan, Italy, February 22, 2015

As at the date of this announcement, the Company's executive directors are Mr. Carlo MAZZI, Ms. Miuccia PRADA BIANCHI, Mr. Patrizio BERTELLI, Mr. Donatello GALLI and Ms. Alessandra COZZANI; the Company's non-executive director is Mr. Gaetano MICCICHE and the Company's independent non-executive directors are Mr. Gian Franco Oliviero MATTEI, Mr. Giancarlo FORESTIERI and Mr. Sing Cheong LIU.

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