Safilo Group — Investor Presentation 2018

Aug 3, 2018

H1 2018 Results

August 3, 2018

This presentation may contain forward looking statements based on current expectations and projects of the Group in relation to future events. Due to their specific nature, these statements are subject to inherent risks and uncertainties, as they depend on certain circumstances and facts, most of which being beyond the control of the Group. Therefore actual results could differ, even to ^a significant extent, with respect to those reported in the statements.

H1 2018 BUSINESS AND ECONOMIC HIGHLIGHTS

• • H1 SALES PERFORMANCE REFLECTED THE DECLINE OF EUROPEAN SUNGLASSSALES IN Q2 AND THE ONGOING WEAKNESS OF THE BUSINESS IN NORTHAMERICA
• • In Q2, high-single digit negative underlying performance exacerbated by high comp base
• • BEST HIGHLIGHTS WERE EMERGING MARKETS2 AND PRESCRIPTION FRAMES INEUROPE
• • MOSCHINO AND RAG&BONE BUSINESS, MAKING UP FOR HALF OF THE EXITED CELINE BUSINESS
• • POSITIVE PERFORMANCE OF POLAROID, CARRERA, TOMMY HILFIGER, HUGO BOSS, KATE SPADE AND GIVENCHY, WHILE MARC JACOBS REPORTED THE MOST SIGNIFICANT DECLINE
• • ADJUSTED1 EBITDA MARGIN HELPED BY COST SAVINGS: IN LINE WITH LASTYEAR AT THE REPORTED LEVEL; UP AT CONSTANT EXCHANGE RATES
• •NET DEBT SUBSTANTIALLY IN LINE WITH Q1 2018

in millions of Euro and % change vs same periods of 2017

2

H1 2018 NET SALES PERFORMANCE

% change vs H1 2017

-4.3% @ constant forex (-3.8% Wholesale)

-3.7% @ constant forex, excl. Gucci business

N O R T H	E U R O P E	A S I A P A C I F I C -	R O W
% 7 7 - W h l l 6. 9 % o e s a e : - R i l 1 1. 8 % t e a -	7 2 % - S l 1 6 % u n g a s s e s c a : - i i % P 1 0 t r e s c r p o n c a : +	2 1 9 % + B d b d r o a a s e - h t g r o w	1 6 7 % + L d t t a a m a n s r o n g h f d i I t g r o w o n a

Q2 2018 NET SALES PERFORMANCE

% change vs Q2 2017

-19.1% @ constant forex (-19.0% Wholesale)

• •Challenging comp base, as Q2 2017 recovered products not delivered in Q1 for the difficult go-live of new IT system
• • Q2 UNDERLYING SALES PERFORMANCE down high-single digit, behind very poor sun season in the core European markets of Spain, Italy and France and the ongoing weak performance of North America

On the positive side: PRESCRIPTION FRAMES UP LOW-SINGLE DIGIT AND IMPROVING TRADING FOR SMITH

O R A R C A N T H M E I	O E U R P E	A S A P A C C I I F I -	O R W
1 0 9 % -	2 % 7 7 -	8 0 % +	9 % 1 7 -
W h l l 8 % 6 o e s a e -
R i l % t 2 0. 6 e a -

GROSS MARGIN PERFORMANCE

in millions of Euro and % on total net sales

ADJ.1 EBITDA MARGIN PERFORMANCE

In millions of Euro and % on total net sales

KEY DRIVERS

• •H1 adj.1 EBITDA margin helped by cost savings, totalling 13m
• • Q2 adj.1 EBITDA margin impacted by negative operational leverage and phasing of marketing costs

ADJ.1 GROUP NET RESULT

in millions of Euro and % on total net sales

Adj.1 Group net result reflecting also:

Higher total net financial expenses

FREE CASH FLOW

in millions of Euro

•Cash Flow for Operating Activities

•Cash Flow for Investing Activities

KEY DRIVERS

• •Adj.1 EBITDA of the periods
• • Lower absorption from Net Working Capital behind a decrease in inventories and DOH improving by 5 days
• Lower Capex

GROUP NET DEBT

in millions of Euro

+3.1% vs Q1 2018 and +51.9% vs H117

Adj.3 Financial Leverage

TOTAL NET SALES EXPECTED TO DECLINE BY AROUND -3% @constant FX vs 20174 (ca -6% @current FX)

• •Business trends expected to improve in H2, but seasonality does not allow for full recovery
• •Forex impact expected to ease in H2

ADJUSTED1 EBITDA MARGIN EXPECTED AT 4% to 5% OF NET SALES

• •Completion of overhead productivity plan launched in 2016 (15M by this year)
• •Further cost actions now in place to protect H2 margins

EXPECTED FREE CASH FLOW ABSORPTION

• •Last 30M Kering compensation to be received by September
• •Net Debt to slightly increase compared to H1

Update of the 2020 Group Business Plan

August 3, 2018

This presentation may contain forward looking statements based on current expectations and projects of the Group in relation to future events. Due to their specific nature, these statements are subject to inherent risks and uncertainties, as they depend on certain circumstances and facts, most of which being beyond the control of the Group. Therefore actual results could differ, even to a significant extent, with respect to those reported in the statements.

TODAY AGENDA

• •An Attractive Eyewear Industry
• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Financial Targets

•An Attractive Eyewear Industry

• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Financial Targets

AN ATTRACTIVE EYEWEAR INDUSTRY

Demographics >2bn people in need of eyecare solution

Consumer behaviorImpact of millennials

ChannelsDigital growing

• • The share of the world's population aged 45+ will increase significantly
• • Increasing wealth in emerging markets will result in more people gaining access to eyecare
• • Health & wellness trends will continue to generate interest in preventive/protective eyecare
• • Consumers are increasingly willing to pay for brands that offer distinguishing value. Traditional brand segmentation may lose relevance
• • Millennials will be 45% of consumers in 2025 and will influence consumption attitudes also for eyewear
• • Eyewear distribution is fragmented, with a large part of business in independent opticians

• • Digital channels currently represent ̴ 5% sales, growing fast, with online platforms/multi brand websites and specialist players leading the growth. Omni-channel becomes more and more important

• •An Attractive Eyewear Industry

• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Financial Targets

WHAT SAFILO STANDS FOR

•2nd Biggest Global Player

• • Distinctive and recognized product design, creation and innovation capabilities, supported by strong communication in reaching key influencers
• • 140 years of eyewear manufacturing: Made in Italy capacity and craftmanship, recently enhanced by smart automation and the latest technologies
• • Know-how in licenses' management and ideal partner for high potential brands within a multi-segment brand portfolio
• •Four own core brands representing 25% of the Group's business
• • Direct distribution in 40 countries and wide network of global partners worldwide, reaching ~100.000 points of sales

WHAT SAFILO STANDS FOR:

Product Design and Manufacturing Footprint

• • A new Product Creation Dep. was created in late 2014 with the purpose to drive the creation, development and innovation of the most unique eyewear collections, operating from a network of international design studios
• • Our products are manufactured both in-house, in our own plants in Italy, China, Slovenia and the United States and through a network of third-party manufacturers in Italy and Asia
• • We tailor production to each brand and market segment, from the value-for-money to the highest end atelier

• • In 2017, we produced 40% of our sale volumes in-house

• Design studios: Padua, Milan, New York, Portland, Hong Kong

• Plants:Europe

•

North AmericaFar East

•

Suzhou (RPC)

• • Salt Lake City •Longarone (Italy)
• S.Maria di Sala (Italy)
• •Martignacco (Italy)
• •Bergamo (Italy)
• •Ormoz (Slovenia)

WHAT SAFILO STANDS FOR:

Global Distribution Network

• • We sell our products with an extensive subsidiary network in 40 countries in North and LatinAmerica, Europe, Middle East and Africa, Asia Pacific and China
• • We have a network of more than50 independent distribution partners covering the other countries
• • We reach nearly 100,000 points of sale all over the world including opticians, optometrists, ophthalmologists, distribution chains, department stores, specialised retailers, licensors' own stores, duty free shops and sports shops

* Recommended retail price

• •An Attractive Eyewear Industry
• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Financial Targets

SAFILO IN CONTEXT

SAFILO IN CONTEXT

SAFILO IN CONTEXT

SOURCE: Safilo's data in % on 2017 sales and management estimates

• 1 An Attractive Eyewear Industry
• 2 What Safilo stands for
• 3 Safilo in context
• 4 Key Strategies
• 5 Financial Targets

KEY STRATEGIES

with FOCUS on Key Brands, Geographies and Channels

Leveraging world-class PRODUCT CREATION AND INNOVATION

Embedding DIGITAL AND E-COMMERCEinto our way of work and sell

Putting the CONSUMER & CUSTOMER at the heart of what we do

2RECOVER OPERATING PERFORMANCE

Significantly REDUCE THE GROUP COST STRUCTURE

•Gross margin improvement from COGS savings

•Overheads reduction

…with a Culture of AGILITY & SPEED

KEY STRATEGIES AND IMPACTS

• •An Attractive Eyewear Industry
• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Reignite Sales Growth
• •Financial Targets

LICENSED BRAND PORTFOLIO

Expected to grow MID-SINGLE DIGIT in the next 2Y

• • Fashion Luxury as our stronghold, behind the Group renowned product creation skills, Made in Italy capacity and tailored-made selective distribution
• • Accelerated growth in the Premium, Contemporary and Lifestyle segments:
• •biggest part of today business
• attractive segment trends and profitability
• capabilities in Fashion Luxury to support growth of Premium
• clear success cases and potential in the licensed portfolio

Expected to grow MID-SINGLE DIGIT in the next 2Y

• • Carrera & Polaroid:
• • Clear design language and collection architecture, back to the DNA of the brands
• •Improve current in-store execution
• • Attract millennials through our brand authenticity, empowered by a new integrated digital strategy (e-commerce and communication)
• •Focused investments in key geographies
• • Smith:
• • Expand market leadership in NA core snow business, with product innovation
• •Expand sunglasses in NA, leveraging on ChromaPop™ lenses
• •Selective expansion of snow business in Europe
• •Accelerate e-commerce in NA and Europe

1.2Catch growth in EMERGING MARKETS

EMERGING MARKETS

Expected to grow HIGH-SINGLE digits in the next 2Y

Emerging markets comprise the regions of India, Middle East & Africa and Latin America (reported within Rest of the World), Central Eastern Europe (reported within Europe), Greater China and APAC (reported within Asia Pacific)

• • Develop "Glocal" strategies:
• •Increase Asian model product offering
• •Leverage the optical strategy, tailored to Emerging markets
• • Invest in locally relevant influencers and marketing campaigns
• • Accelerate hybrid commercial model for wider geographical and in market coverage

DEVELOPED MARKETS*

Expected to grow LOW to MID-SINGLE digits in the next 2Y

• •Step up Service Levels and Customer care
• •Complete the commercial reorganization in North America
• •Digitalize the salesforce and exploit more our B2B platform
• •Enhance portfolio opportunities in optical across Europe

1.4Start an OMNI-CHANNEL strategy

E-COMMERCE BUSINESS

Expected to grow HIGH-DOUBLE digits in the next 2Y Double its share of the total sales from 3% to 6% in 2020

• • E-commerce to develop a true omni-channel strategy:
• • New Carrera and Polaroid e-commerce, starting with Western Europe
• • New Smith e-commerce inWestern Europe
• • Develop/accelerate partnerships with big marketplace players (e.g., YNAP, Amazon, Farfetch, JD.com)/ Internet pure players (e.g., Mr. Spex,)

OPTICAL BUSINESS

Grow its share on the total sales from 35% to 40% in 2020Expected to grow MID-SINGLE digits in the next 2Y

• •Broaden the optical category for all our key brands
• •Strengthen and enlarge the product offer and price positioning
• •Improve execution in after-sales service

• • Make our Safilo optical specialist brand the essence of our 360° optical strategy

• •An Attractive Eyewear Industry

• •What Safilo stands for
• •Safilo in context
• • Key Strategies
• •Reignite Sales Growth
• •Reduce Cost Structure
• •Financial Targets

REDUCE COST STRUCTURE

2.1

Cost of Goods Sold Savings (excl. Obsolescence)

PROCUREMENT

• • Partner closer withfewer suppliers
• •Strengthen design-to-cost per segment

MANUFACTURING

• • Improve plant efficiency, adopting best-in-class industrial processes and technologies
• •Redesign manufacturing flows and indirect structures

DISTRIBUTION & LOGISTICS

• •DC consolidation: from 10 in 2017 to 4 in 2020
• •Optimization of transportation and warehousing flows

REDUCE COST STRUCTURE

• Lead Time Reduction behind better planning and flows optimization/ synchronization with suppliers and within Safilo factories
• • Supply Chain Reliability improvement based on better capacity planning and material stock management
• • Improvement of Forecast Accuracy by optimizing safety stock and rationalizing SKU's

REDUCE COST STRUCTURE

2.3Overhead Cost Savings

• •Work process simplification in central and regional offices
• • Agility and efficiency in transactional work, powered by completion of the Eyeway IT systems rollout
• •Detailed, zero-based budgeting effort on G&A

• •Indirect costs efficiencies through Eyebuy platform

• •An Attractive Eyewear Industry

• •What Safilo stands for
• •Safilo in context
• •Key Strategies
• •Financial Targets

FINANCIAL TARGETS

	2 0 2 0 A R G S * T E T
S A S G R O L E W T H	~1 0 0 0 1. 0 2 0 M i € o – 2 % C A G R 2 0 8 1 c a + s e v	 S l b k h f 2 0 1 9 t t a e s a c o g r o r o m w  % C G l. G i b i 4 A R 2 0 1 8, c a v s e x c u c c u s n e s s +
E B I T D A M A R G I N E X P A N S I O N	8 % 0 % f S l 1 N t o e a e s -	 S d f i f i l d i t e a y r e c o v e r y o e c o n o m c p e r o r m a n c e m a n y r v e n b G i i d O h d i t r o s s m a r g n m p r o e m e n a n e r e a s a n g s y v v v
C A S O H F L W G R A O E N E T I N * a 2 0 8 F X t 1	b N D / E B I T D A 1. 5 t t : e e c a x	 P i i C h F l f b l d b i t 2 0 1 9, o s v e a s o w r o m e n a e y e c o n o m c l d b N W k i C i l t t t t t r e s s a n e e r e o r n g a p a u  C l d i d i E U R 8 0 M t t t u m u a e n v e s m e n s a r o u n o

Safilo's 150 Mio € Revolving Credit Facility ('RCF") is expiring on November 30, 2018 and the 150 Mio € Equitylinked Bond ("ELB") is maturing on 22 May 2019.

The Company is progressing in its discussions with financial institutions on the refinancing options, in the context of the updated business plan. In addition, the Company is having discussions with its reference shareholder, HAL Holding N.V ("HAL"), to which extent and under which terms and conditions HAL could potentially provide financial support in the refinancing process. The company expects to complete the work and all considerations regarding the final choice of financing options within the coming months and to launch the actual refinancing project within the upcoming maturity timelines.

H1 2018 Results Appendices

Notes

1 In H1 2018, the adjusted economic results exclude non-recurring costs for Euro 3.5 million, mainly related to the CEO succession plan and reorganization costs in North America; include an income of Euro 19.5 million, as pro-rata portion of the accounting compensation for the early termination of the Gucci license, equal to Euro 39 million for the full year 2018.

In Q2 2018, the adjusted EBITDA excludes non-recurring costs for Euro 1.8 million and includes an income of Euro 9.8 million, as pro-rata portion of the accounting compensation for the early termination of the Gucci license.

In H1 2017, the adjusted economic results excluded non-recurring costs of Euro 3.7 million, mainly related to the reorganization of the Ormoz plant in Slovenia and other overhead cost saving initiatives (Euro 3.0 on the Net result), and included income of Euro 21.5 million as a pro-rata portion of the accounting compensation for the early termination of the Gucci license, equal to Euro 43 million for the full year 2017.

In Q2 2017, the adjusted EBITDA excluded non-recurring costs of Euro 0.4 million related to overhead cost saving initiatives and included income of Euro 10.8 million as a pro-rata portion of the accounting compensation for the early termination of the Gucci license.

2 Emerging markets comprise the regions of India, Middle East & Africa and Latin America (reported within Rest of the World), Central Eastern Europe (reported within Europe), Greater China and APAC (reported within Asia Pacific).

3 The June 2018 LTM financial leverage, calculated taking into account also the reported H2 2017 EBITDA adjusted for the non-recurring costs incurred in the year and for the extraordinary items ascribed to the implementation of the new Order-to-Cash IT system in the Padua DC, stood at 3.4x. As a consequence of this result, Safilo has exceeded the level of leverage set in the covenant of its Revolving Credit Facility, expiring at the end of November 2018. This now triggers a remediation period, with a new test at end of September, to be concluded within November, while the Company is progressing with the relevant refinancing considerations.

4 The new accounting standard IFRS 15 regarding "Revenue from contracts with customers" entered into effect starting from 1 January 2018. Following the fully retrospective approach chosen by the Group, the application of the principle to the first semester and second quarter of 2018, had an adjustment effect on the sales and cost of goods sold of the same periods of 2017 equal respectively to Euro 5.4 million and Euro 2.7 million, with a neutral effect on the gross profit. Consequently, Q2 and H1 2017 total net sales were adjusted to Euro 312.6 and Euro 547.2 million respectively. The application of the principle to FY 2017 total net sales had an adjustment effect on the sales and cost of goods sold equal to Euro 11.6 million with a neutral effect on the gross profit.

H1 Economic results

in millions of Euro and % on net sales

	H 1 2 0 1 8	%	4 H 1 2 0 1 7	%	% C ha ng e
Ne les t s a	49 2. 2	10 0. 0	54 7. 2	10 0. 0	-1 0. 0%
Co of les st sa	( ) 23 8.1	( ) 48 .4	( ) 26 0.0	( ) 47 .5	-8 .4%
Gr fit os s p ro	25 4. 1	51 6	28 7. 2	52 .5	-1 1.5 %
Se llin d m ark eti g an ng ex p en se s	( ) 20 2.3	( ) 41 .1	( ) 21 6.6	( ) 39 .6	-6 .6%
Ge ral d a dm ini ati str ne an ve ex p en se s	( ) 69 .1	( ) 14 .0	( ) 85 .3	( ) 15 .6	-1 9.0 %
Ot he tin inc (ex ) r o p era g om e p en se s	16 .9	3. 4	18 .0	3. 3	.8% -5
los Op ati fit /( s) er ng p ro	( 0. 4)	( 0. 1)	3. 3	0. 6	n. s.
Fin cia l c ha et an rg es , n	( ) 9.7	( ) 2.0	( ) 7.3	( ) 1.3	32 .3%
fit be fo Pr /( Lo ) ati tax o ss re on	( 10 0)	( 2. 0)	( 4. 0)	( 0. 7)	n. s.
Inc e t om ax es	( ) 3.9	( ) 0.8	( ) 5.6	( ) 1.0	-3 0.1 %
fit /( los s) ri bu b le he G Ne t p att ta to t ro ro up	( 13 9)	( 2. 8)	( 9. 6)	( 1. 8)	45 .1 %
EB ITD A	21 .7	4. 4	24 .1	4. 4	-1 0. 2%
1 E A dj d BIT te us	3. 1	0. 6	7. 0	1. 3	-5 4. 9%
1 E A dj d BIT DA te us	25 .1	5. 1	27 8	5. 1	-9 .5 %
1 n dj d los bu b le he A fit /( s) ri G te et att ta to t us pr o ro up	( 10 .4 )	( 2. 1)	( 6. 6)	( 1. 2)	56 8%

Q2 Economic results

in millions of Euro and % on net sales

	Q 2 2 0 1 8	%	4 Q 2 2 0 1 7	%	% C ha ng e
Ne t s les a	2 4 1. 3	1 0 0. 0	3 1 2. 6	1 0 0. 0	2 2. 8 % -
Gr f i t os s p ro	1 2 6. 6	5 2. 5	1 7 0. 4	5 4. 5	2 5. 7 % -
E B I T D A	1 0. 3	4. 3	3 3. 7	1 0. 8	6 9. 4 % -
1 E A d j te d B I T D A us	1 2. 1	0 5.	3 4. 0	1 0. 9	6 4. % 5 -

Net sales by geographical area and distribution channel

	H 1 2 0 1 8	%	4 H 1 2 0 1 7	%	C ha % ng e	C ha % ( *) ng e
Eu ro p e	2 3 9. 9	48 .7	2 6 1. 8	47 .8	-8 3 %	7. 2 % -
h ica No t Am r er	1 8 3. 8	37 .3	2 2 1. 8	40 .5	% -1 7. 2	% 7. 7 -
As ia Pa i f ic c	3 2. 5	6.6	2 8. 9	5.3	2. 3 % 1	2 9 % 1.
Re f he l d t o t s or w	3 6. 0	7.3	3 4. 7	6.3	3. 8 %	1 6. 7 %
l To ta	4 9 2. 2	1 0 0. 0	5 4 7. 2	1 0 0. 0	1 0. 0 % -	4. 3 % -
W ho les le a	4 6 5. 7	94 .6	5 1 3. 7	93 .9	-9 3 %	3. 8 % -
i l Re ta	2 6. 5	5.4	3 3. 5	6.1	% -2 1. 1	% 1 1. 8 -
To l ta	4 9 2. 2	1 0 0. 0	5 4 7. 2	1 0 0. 0	1 0. 0 % -	4. 3 % -

in millions of Euro

	Q 2 2 0 1 8	%	4 Q 2 2 0 1 7	%	ha C % ng e	ha *) C % ( ng e
Eu ro p e	1 1 6. 4	48 .2	1 6 3. 3	52 .2	-2 8. 7 %	2 7. 7 % -
h ica No t Am r er	8 9. 0	36 .9	1 0 7. 4	34 .3	% -1 7. 1	% 1 0. 9 -
As ia Pa i f ic c	8. 2 1	7.5	9 1 7.	5.7	8 % 1.	8. 0 %
Re f he l d t o t s or w	1 7. 7	7.4	2 4. 1	7.7	-2 6. 3 %	1 7. 9 % -
l To ta	2 4 1. 3	1 0 0. 0	3 1 2. 6	1 0 0. 0	2 2. 8 % -	1 9. 1 % -
W ho les le a	2 2 6. 6	93 .9	2 9 2. 5	93 .6	-2 2. % 5	9. % 1 0 -
Re i l ta	1 4. 7	6.1	2 0. 1	6.4	-2 7. 0 %	2 0. 6 % -
l To ta	2 4 1. 3	1 0 0. 0	3 1 2. 6	1 0 0. 0	2 2. 8 % -	1 9. 1 % -

(*) Sales performance at constant exchange rates

Balance Sheet

in millions of Euro

	J 3 0, 2 0 1 8 u n e	b D 3 1, 2 0 1 7 e c e m e r	h C g a n e
N k i i l t t e o r n g c a p a w	2 5 1. 7	2 3 1. 6	2 0. 2
i b l d i i b l f i d T t t a n g e a n n a n g e x e a s s e s	4 6 9. 9	4 7 3. 3	( ) 3. 4
F i i l f i d t n a n c a x e a s s e s	-	-	-
N h l d f l t t o n- c u r r e n a s s e s e o r s a e	-	1. 3	( ) 1. 3
( ), / O h l i b i l i i t t t t e r a s s e s a e s n e	( ) 2 0. 8	( ) 4 1. 3	2 0. 5
i d i l N t t t e n e s e c a p a v	0 0. 9 7	6 6 9 4.	3 6. 0
N f i i l i i t t e n a n c a p o s o n	( ) 1 7 1. 1	( ) 1 3 1. 6	( ) 3 9. 5
G S h h l d ' i t r o u p a r e o e r s e q u y	( ) 5 2 9. 8	( ) 5 3 3. 2	3. 4
N l l i i t t t o n- c o n r o n g n e r e s s	-	-	-

Net Working Capital

in millions of Euro

	J 3 0, 2 0 1 8 u n e	J 3 0, 2 0 1 7 u n e	h C g a n e
T d i b l r a e r e c e v a e s	1 8 5. 8	2 3 5. 9	( ) 5 0. 1
I i t n v e n o r e s	2 4 5. 2	2 7 1. 1	( ) 8 2 5.
d b l T r a e p a a e s y	( ) 1 7 9. 3	( ) 2 2 3. 5	4 4. 2
k l N i i t t g e w o r n c a p a	2 5 1. 7	2 8 3. 5	( 3 1. 7 )
% l t L T M o n n e s a e s	% 2 5. 7	% 2 4. 7

Free Cash Flow

in millions of Euro

	2 0 8 H 1 1	2 0 H 1 1 7
C h f l f i i i i b f h i W C t t t a s o r o m o p e r a n g a c e s e o r e c a n g e s n w v	1 3. 4	( ) 5. 6
C h i k i i l t a n g e s n w o r n g c a p a	( ) 3 7. 7	( ) 3 0. 8
C h f l i i i i t t t a s o o p e r a n g a c e s w v	( ) 2 4. 3	( ) 3 6. 4
C h f l i i i i i t t t a s o w n v e s n g a c v e s	( ) 3. 0 1	( ) 2 0. 8
h l F f r e e c a s o w	( 3 7. 3 )	( 5 7. 2 )

Exchange Rates

		As	f o	( Ap ia io ) / t p re c n De ia io t p re c n	Av ag er	( Ap ia io ) / t p re c n De ia io t p re c n
Cu rr en cy	de Co	Ju 3 0, 2 0 1 8 ne	be De 3 1, 2 0 1 7 ce m r	%	Ju 3 0, 2 0 1 8 ne	Ju 3 0, 2 0 1 7 ne	%
U S Do l lar	U S D	8 1. 1 6 5	9 9 3 1. 1	2. 8 % -	2 0 1. 1 4	0 8 3 0 1.	8 % 1 1.
Ho -K Do l lar ng on g	H K D	9. 1 4 6 8	9. 3 7 2 0	2. 4 % -	9. 4 8 6 3	8. 4 1 9 9	1 2. 7 %
Sw iss Fr an c	C H F	9 1. 1 5 6	0 2 1. 1 7	% 1. 1 -	9 8 1. 1 6	0 1. 7 6 6	8. % 6
Ca d ia Do l lar na n	C A D	1. 5 4 4 2	1. 5 0 3 9	2. 7 %	1. 5 4 5 8	1. 4 4 5 3	7. 0 %
Ja Ye p an es e n	Y E N	2 9. 0 0 0 1 4	3 0 0 0 1 5. 1	% 4. 4 -	3 0 1 1. 6 5 7	2 8 0 1 1. 7 4	8. % 1
Br i t is h Po d un	G B P	0. 8 8 6 1	0. 8 8 7 2	0. 1 % -	0. 8 7 9 8	0. 8 6 0 6	2. 2 %
Sw d is h Kr e ow n	S E K	0. 3 0 1 4 5	9. 8 3 8 4	2 % 6.	0. 0 8 1 1 5	9. 9 8 5 6	8 % 5.
Au tra l ia Do l lar s n	A U D	1. 5 7 8 7	1. 5 3 4 6	2. 9 %	1. 5 6 8 8	1. 4 3 6 4	9. 2 %
So h- A fr ica Ra d t u n n	Z A R	1 6. 0 4 8 4	1 4. 8 0 4 5	8. 4 %	1 4. 8 9 1 3	1 4. 3 0 6 3	4. 1 %
Ru ia Ru b le ss n	R U B	7 3. 1 5 8 2	6 9. 3 9 2 0	5. 4 %	7 1. 9 6 0 1	6 2. 8 0 5 7	1 4. 6 %
Br i l ia Re l as n a	B R L	4. 4 8 7 6	3. 9 7 2 9	1 3. 0 %	4. 1 4 1 5	3. 4 4 3 1	2 0. 3 %
In d ia Ru n p ee	I N R	7 9. 8 1 3 0	7 6. 6 0 5 5	4. 2 %	7 9. 4 9 0 3	7 1. 1 7 6 0	1 1. 7 %
S ing Do l lar ap or e	S G D	1. 5 8 9 6	1. 6 0 2 4	0. 8 % -	1. 6 0 5 4	1. 5 2 0 8	5. 6 %
Ma lay ia R ing i t s n g	M Y R	4. 7 0 8 0	4. 8 5 3 6	3. 0 % -	4. 7 6 7 0	4. 7 5 1 1	0. 3 %
C h ine Re in b i se nm	C N Y	7. 7 1 7 0	7. 8 0 4 4	1. 1 % -	7. 7 0 8 6	7. 4 4 4 8	3. 5 %
Ko W re an on	K R W	1, 2 9 6. 7 2 0 0	1, 2 7 9. 6 1 0 0	1. 3 %	1, 3 0 2. 3 7 5 2	1, 2 3 6. 3 3 0 2	5. 3 %
Me ica Pe x n so	M X N	2 2. 8 8 1 7	2 3. 2 6 6 1	3. 3 % -	2 3. 0 8 0 5	2 0 1. 4 4 1	9. % 7
Tu k is h L ira r	T R Y	5. 3 3 8 5	4. 5 4 6 4	1 7. 4 %	4. 9 5 6 5 5	3. 9 3 9 1	2 5. 8 %
D ir ha Un i d Em ira te te m s	A E D	2 8 4. 1 4	0 4. 4 4 4	2. 8 % -	0 2 4. 4 4 5	3. 9 8 7 5 7	8 % 1 1.

Brand Portfolio

SAFILO	$\rm{Dior}$	ELIE SAAB	BOSS	havaianas ®
MADE IN ITALY DAL 1934		kate spade	MARC JACOBS	BANANA REPUBLIC
CARRERA	GIVENCHY PARIS	NEW YORK TOMMY INILFIGER	MOSCHINO	& bone rag NEW YORK
•Polaroid	FENDI	FOSSIL REBECCA MINKOFF	LOVE MOSCHINO	Juice Couture BLACK LABEL los angeles
			BROWN BOBBI	Liz claiborne
OXYDO	MaxMara	swatch the oo eyes	MAX&Co	Ho bin Alchiuc
SMITH	JIMMY CHOO	800 B	pierre cardin PARIS	JACK SPADE