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P A G E N U M B E R

This presentation has been prepared by YOOX NET-A-PORTER GROUP S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies.

For further details on YOOX NET-A-PORTER GROUP S.p.A., reference should be made to publicly available information.

Statements contained in this presentation, particularly regarding any possible or assumed future performance of the Group, are or may be forward-looking statements based on YOOX

NET-A-PORTER GROUP S.p.A.’s current expectations and projections about future events, and in this respect may involve some risks and uncertainties.

Actual future results for any quarter or annual period may therefore differ materially from those expressed in or implied by these statements due to a number of different factors, many of

which are beyond the ability of YOOX NET-A-PORTER GROUP S.p.A. to control or estimate precisely, including, but not limited to, the Group’s ability to manage the effects of uncertain

current global economic conditions on the business and to predict future economic conditions, the Group’s ability to achieve and manage growth, the degree to which YOOX NET-A-

PORTER GROUP S.p.A. enters into, maintains and develops commercial and partnership agreements, the Group’s ability to successfully identify, develop and retain key employees, manage

and maintain key customer relationships and maintain key supply sources, unfavourable development affecting consumer spending, the rate of growth of the Internet and online commerce,

competition, fluctuations in exchange rates, any failure of information technology, inventory and other asset risk, credit risk on the Group’s accounts, regulatory developments and changes

in tax laws.

YOOX NET-A-PORTER GROUP S.p.A. does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date

of this presentation.

Any reference to past performance of YOOX NET-A-PORTER GROUP S.p.A. shall not be taken as an indication of future performance.

This document does not constitute an offer or invitation to purchase or subscribe to any shares and no part of it shall form the basis of or be relied upon in connection with any contract or

commitment whatsoever.

By attending the presentation you agree to be bound by the foregoing terms.

In this entire presentation, pro-forma financials refer to the pro-forma financial statements relating to the financial year ended 31 December 2015, which have been prepared by aggregating

the historical data of YOOX GROUP and of THE NET-A-PORTER GROUP Limited and then carrying out adjustments for the purpose of simulating the economic effects of the merger on the

operating performance of YOOX NET-A-PORTER GROUP as if such transaction had virtually occurred at the beginning of the 2015 financial year (1 January 2015). For further information on

the preparation criteria of pro-forma financials and on the limits concerning the information content thereof, please refer to the information contained in the FY2015 results press release

published on the Company’s website.

P A G E N U M B E R

YOOX NET-A-PORTER GROUP FULL YEAR RESULTS TO 31 DECEMBER 2016

– RESULTS HIGHLIGHTS

– FINANCIAL REVIEW

OUTLOOK FOR 2017

Q&A

P A G E N U M B E R

Net Revenues of €1.9 billion, +17.7% organic1 (+12.4%

reported2) compared with pro-forma net revenues of €1.7

billion in FY 2015

– Multi-brand Off-Season (19.5%) outperforming In-

Season (16.0% organic) in the full year; acceleration of

Multi-brand In-Season in 2H 2016 on 1H; Strong

performance of Online Flagship Stores (GMV +23.7%

organic) fuelled by excellent results of Kering JV

– Positive contribution from all key regions

Adjusted EBITDA3 at €155.7m (vs. €133.1m in FY 2015), with a

margin of 8.3% (vs. 8.0% in FY 2015) reflecting operating

leverage in Fulfillment and G&A costs

Adjusted Net Income3 up 16.0% at €69.3m (vs €59.7m in 2015)

Net Cash at €104.7m as at 31 December 2016 (vs Net Cash of

€62.1 as at December 2015)

1. Organic net revenue growth is calculated at constant exchange rates and at comparable perimeter by including net revenues of all online stores active at the end of each period, which were also active at the beginning of the same period of the previous year2. Reported net revenue growth calculated at current exchange rates and at actual business perimeter3. For full glossary, please refer to slide 31Note: Figures as absolute values and in percentages are calculated using precise financial data. Some of the differences found in this presentation are due to rounding of the values expressed in millions of Euro

P A G E N U M B E R




OUTLOOK FOR 2017

Q&A

P A G E N U M B E R

€58.3m €74.3m

€175.7m€200.5m

€249.3m€263.4m

Net Revenue Performance and Breakdown

Constant FX4Q 2016GroupGrowth

51.6%12.1%

48.9%

37.3%

27.4% 0.3% 27.7%

Online Flagship StoresNet Revenue Growth

Impact of different bookingfor the JV online store sales

Online Flagship StoresGross Merchandise Growth

1. Organic net revenue growth is calculated at constant exchange rates and at comparable perimeter by including net revenues of all online stores active at the end of each period, which were also active at the beginning of the same period of the previous year.2. Gross Merchandise Value is defined as retail value of sales of all the Online Flagship Stores, including the JV online store sales, to final customers, net of returns and customer discounts. Set-up, design and maintenance fees for the Online Flagship Stores, accounted for within “Rest of the

World and Not Country Related”, are excluded3. Gross merchandise value organic growth is calculated at constant exchange rates and at comparable perimeter by including gross merchandise value of all Online Flagship Stores active at the end of each period, which were also active at the beginning of the same period of the previous year.

36.4%

13.8%

+30.7%

+11.6%

+16.4%

€538.2m

+14.1%

+11.4%

+27.4%

+5.7%

4Q 2015

4Q 2016 vs 4Q 2015

+15.7%

Constant FX

+30.6%

Organic1

+17.6%

+19.2%

Organic3

+34.6%

Current FX

€483.3m

Online Flagship Stores Gross Merchandise Value2 Growth

Multi-brand Off-SeasonMulti-brand In-Season Online Flagship Stores

P A G E N U M B E R


€175.3m €205.3m

€596.4m€696.8m

€893.3m€968.6m

Net Revenue Performance and Breakdown

€1,870.7m

€1,665.0m

2016

53.7%

35.8%

51.8%11.0%

Online Flagship Stores Gross Merchandise Value2 Growth

17.1%3.2% 20.3%

Online Flagship StoresNet Revenue Growth

Impact of different bookingfor the JV online store sales

Online Flagship StoresGross Merchandise Growth

10.5%

37.2%

+19.0%

+13.0%

+19.5%

+17.1%

+8.4%

+12.4%

+16.8%

2015Pro-forma

2016 vs 2015 Pro-forma

+16.0%

+21.8%

Current FX

+16.0%

+17.7%

+23.7%

1. Organic net revenue growth is calculated at constant exchange rates and at comparable perimeter by including net revenues of all online stores active at the end of each period, which were also active at the beginning of the same period of the previous year. Specifically, it excludes theperformance of THE CORNER and SHOESCRIBE (combined 1.1% of Group’s 2016 net revenues) as well as of 9 mono-brand contracts which are not being renewed (combined 0.8% of Group’s 2016 net revenues), of which 3 will be terminated in 2017

2. Gross Merchandise Value is defined as retail value of sales of all the Online Flagship Stores, including the JV online store sales, to final customers, net of returns and customer discounts. Set-up, design and maintenance fees for the Online Flagship Stores, accounted for within “Rest of theWorld and Not Country Related”, are excluded

3. Gross merchandise value organic growth is calculated at constant exchange rates and at comparable perimeter by including gross merchandise value of all Online Flagship Stores active at the end of each period, which were also active at the beginning of the same period of the previous year.Specifically, it excludes the performance of 9 mono-brand contracts which are not being renewed (combined 0.8% of Group’s 2016 net revenues), of which 3 will be terminated in 2017

GroupGrowth

Constant FX Organic1

Constant FX Organic3

P A G E N U M B E R

(€m )

Italy 110.9 124.8 12.5% 12.6% 35.8 37.4 4.5% 4.8%

UK 263.9 269.9 2.3% 15.3% 79.6 78.2 (1.7%) 16.6%

Rest of Europe 439.5 488.1 11.1% 13.2% 121.9 134.4 10.2% 11.0%

North America 503.1 573.9 14.1% 14.0% 151.0 172.9 14.5% 13.6%

APAC 242.3 302.3 24.8% 27.1% 66.5 88.1 32.4% 36.0%

Rest of the World + NCR 105.3 111.7 6.0% 16.5% 28.4 27.2 (4.3%) 10.2%

Group Net Revenues 1,665.0 1,870.7 12.4% 16.0% 483.3 538.2 11.4% 15.7%

1. Not Country Related

30.2%

15.8%14.6%

6.3%

26.4%

6.7%

2015 Pro-forma 2016

30.7%

14.4%16.2%

6.0% 6.7%

26.1%

4Q 2015

13.8%

5.9%

16.5%

31.2%

7.4%

25.2%

16.4%

5.0%

14.5%

32.1%

7.0%

4Q 2016

25.0%

Net Revenue Performance

Net Revenue Breakdown

Italy UK Rest of Europe APACNorth America Rest of the World and NCR1

2015 Pro-forma 2016 % Growth

% GrowthConstant FX 4Q 2015 4Q 2016 % Growth

% GrowthConstant FX

1

Organic growth at

18.7%, accelerating on 9M 2016

(+15.5%)

4.6%

P A G E N U M B E R

10.4 11.7

9.711.4

8.59.4

20162015 Pro-forma Dec 2015 Dec 2016

2015 Pro-forma

352334

346 4 339

4Q 20164Q 2015

-5.1% -2.0% +16.0%

2,519

2,922

4Q 20164Q 20152016

7,072

8,361

2,0532,422

+18.2% +18.0%

# Orders (‘000) - Group

Average Order Value (€) - Group Active Customers5 (‘000) - Group6

Constant FX

1. Key performance indicators do not include the Joint Venture with Kering and the jimmychoo.com online flagship store2. Source: Adobe Analytics for NET-A-PORTER and MR PORTER in 2016 and THE OUTNET; Adobe Analytics and Flurry for NET-A-PORTER and MR PORTER in 2015, Google Analytics for YOOX, THECORNER, SHOESCRIBE and the Online Flagship Stores "Powered by YOOX NET-A-PORTER

GROUP"3. 2015 monthly unique visitors (“MUV”) have been restated to include the MUV from native apps, previously not tracked, for NET-A-PORTER, MR PORTER and THE OUTNET as well as to account for the change in data source used for YOOX MUV starting from November 2015. Specifically, YOOX

MUV for both 2015 and 2016 are now sourced from Google Analytics, instead of Google Analytics for the website and SiteCatalyst for the mobile site as previously used4. 4Q 2015 AOV has been restated as a result of inconsistent recognition criteria used by the former YOOX GROUP and the former THE NET-A-PORTER GROUP for the calculation of the 4Q 2015 underlying gross sales. On the contrary, no restatement is necessary for FY 2015 AOV5. Active Customer is defined as a customer who placed at least one order in the 12 preceding months. The figure reported is calculated as the sum of the Active Customers of each online store for the reporting period6. Includes Active Customers of the Online Flagship Stores “Powered by YOOX NET-A-PORTER GROUP”

Constant FX

-1.7% +1.9%

9.1 9.7

9.510.4

8.28.7

26.7 328.8

20162015 Pro-forma

10.4 11.7

9.711.4

8.89.4

29.0 332.6

+7.8%

+6.7%

+12.4%

4Q 2015 4Q 2016

Monthly Unique Visitors (m)2

+10.0%

+7.2%

+12.4%

+17.0%

Organic Organic

+18.2%

+12.7%+6.3%

GroupGrowth


P A G E N U M B E R

(€m )

Net Revenues 1,665.0 1,870.7 873.2 973.6

growth 30.9% 12.4% 11.5%

COGS (1,008.1) (1,138.2) (529.9) (596.1)

Gross Profit 657.0 732.4 343.4 377.5

% of Net Revenues 39.5% 39.2% 39.3% 38.8%

Fulfillment Excl. IPC (165.7) (181.4) (86.8) (92.9)

% of Net Revenues 10.0% 9.7% 9.9% 9.5%

Sales & Marketing Excl. IPC (203.5) (229.3) (111.2) (123.3)

% of Net Revenues 12.2% 12.3% 12.7% 12.7%

General & Administrative Excl. IPC (150.1) (159.9) (76.6) (78.9)

% of Net Revenues 9.0% 8.5% 8.8% 8.1%

Other Income / (Expenses) (4.6) (6.1) (2.1) (3.3)

Adjusted EBITDA 133.1 155.7 66.7 79.2

% of Net Revenues 8.0% 8.3% 7.6% 8.1%

Ordinary Depreciation & Amortisation (56.9) (58.4) (29.2) (34.0)

% of Net Revenues 3.4% 3.1% 3.3% 3.5%

Adjusted Operating Profit 76.2 97.4 37.5 45.2

% of Net Revenues 4.6% 5.2% 4.3% 4.6%

Income / (Loss) From Investment In Associates 0.6 0.4 0.5 0.1

Net Financial Income / (Expenses) 0.8 (4.1) (1.6) (3.0)

Adjusted Profit Before Tax 77.6 93.7 36.5 42.3

% of Net Revenues 4.7% 5.0% 4.2% 4.3%

Taxes (17.9) (24.4) (8.9) (10.0)

Adjusted Net Income 59.7 69.3 27.6 32.2

% of Net Revenues 3.6% 3.7% 3.2% 3.3%

Note: Depreciation & Amortisation included in Fulfilment, Sales & Marketing, General & Administrative have been reclassified and grouped under Ordinary Depreciation & Amortisation1. The Adjusted P&L excludes non-cash costs associated with Stock Option Plans as well as the amortisation related to the Purchase Price Allocation process arising from the merger of YOOX GROUP and THE NET-A-PORTER GROUP2. For full glossary and for the description of the pro-forma adjustments, please refer to slide 31

20162015

Pro-Forma2H 2016

2H 2015 Pro-Forma

2

2

2

2

P A G E N U M B E R

(€m )

Net Revenues 1,665.0 1,870.7 873.2 973.6

growth 30.9% 12.4% 11.5%

COGS (1,008.1) (1,138.2) (529.9) (596.1)

Gross Profit 657.0 732.4 343.4 377.5

% of Net Revenues 39.5% 39.2% 39.3% 38.8%

Fulfillment Excl. IPC (165.7) (181.4) (86.8) (92.9)

% of Net Revenues 10.0% 9.7% 9.9% 9.5%

Sales & Marketing Excl. IPC (203.5) (229.3) (111.2) (123.3)

% of Net Revenues 12.2% 12.3% 12.7% 12.7%

General & Administrative Excl. IPC (150.1) (159.9) (76.6) (78.9)

% of Net Revenues 9.0% 8.5% 8.8% 8.1%

Incentive Plan Costs (IPC) (6.7) (12.4) (0.5) (6.4)

Other Income / (Expenses) (4.6) (6.1) (2.1) (3.3)

Reported EBITDA 126.4 143.4 66.2 72.7

% of Net Revenues 7.6% 7.7% 7.6% 7.5%

Ordinary Depreciation & Amortisation (56.9) (58.4) (29.2) (34.0)

% of Net Revenues 3.4% 3.1% 3.3% 3.5%

PPA-related amortisation - (32.8) - (15.6)

% of Net Revenues 0.0% 1.8% 0.0% 1.6%

Reported Operating Profit 69.5 52.2 37.0 23.2

% of Net Revenues 4.2% 2.8% 4.2% 2.4%

Income / (Loss) From Investment In Associates 0.6 0.4 0.5 0.1

Net Financial Income / (Expenses) 0.8 (4.1) (1.6) (3.0)

Reported Profit Before Tax 70.9 48.5 36.0 20.3

% of Net Revenues 4.3% 2.6% 4.1% 2.1%

Taxes (17.4) (14.6) (8.9) (5.2)

Reported Net Income 53.4 33.9 27.0 15.1

% of Net Revenues 3.2% 1.8% 3.1% 1.6%

Note: Depreciation & Amortisation included in Fulfillment, Sales & Marketing, General & Administrative have been reclassified and grouped under Ordinary Depreciation & Amortisation

20162015

Pro-Forma2H 2016

2H 2015 Pro-Forma

P A G E N U M B E R

Gross Profit by Business Line

Multi-brand In-Season Multi-brand Off-Season Online Flagship Stores

% of division Net revenues 41.4%

20162015 Pro-Forma

40.8% 37.7% 38.5% 33.5% 31.4%

€364.4m

€401.3m

Gross profit is defined as net revenues less cost of goods sold (“COGS”), which includes shipping costs

€183.3m €195.3m

€227.8m€262.4m

€126.4m€145.6m

€64.7m€68.7m

€33.7m€36.6m

2H 2016

2H 2015 Pro-Forma

40.8% 40.7% 38.2% 38.5% 36.9% 35.4%

20162015 Pro-Forma

2H 2016

2H 2015 Pro-Forma

20162015 Pro-Forma

2H 2016

2H 2015 Pro-Forma

P A G E N U M B E R

(€m )

Adjusted EBITDA 133.1 155.7 66.7 79.2

Realised Net Financial Income / (Expenses) & Associates 1.3 (8.8) (1.1) (6.2)

Taxes paid (28.9) (24.9) (17.1) (14.0)

Change in Ordinary Working Capital (12.2) (23.4) 14.9 (0.2)

Capital Expenditure (83.7) (136.9) (36.8) (88.8)

Other (4.1) (19.2) (1.6) (4.2)

Translation Adj. 17.5 6.3

Free Cash Flow at Constant FX 5.5 (40.1) 25.0 (28.0)

€62.1m

€155.7m

€(8.8)m€(24.9)m

€(23.4)m

€(136.9)m €(19.2)m

€100.2m €104.7m

Dec 2015Net Cash

AdjustedEBITDA

Net FinancialIncome / (Expenses)

& Associates

Taxespaid

Change inOrdinaryWorkingCapital

CapitalExpenditure

Other Capital Increase &Proceeds from S.O.

Exercise

Dec 2016Net Cash

1. Other mainly refers to exchange rate impact resulting from the consolidation of foreign subsidiaries and unrealised gain and losses2. Translation Adjustments refer to the delta FX which arises from converting Ordinary Working Capital, Capital Expenditure and Other into Euro at the exchange rates as at 30 December 2016 and 31 December 2015

Cash Flow Statement

Net Financial Position Evolution

2H 20162015

Pro-Forma

1

1

20162H 2015

Pro-Forma

2

P A G E N U M B E R

(€m )

Inventories 531.6 530.7 578.2 (46.6) (47.5)

Trade Receivables 31.3 23.9 32.4 (1.1) (8.5)

Trade Payables (353.3) (362.2) (399.4) 46.2 37.2

Other Receivables / (Payables) (113.6) (73.1) (91.7) (21.9) 18.6

Ordinary Net Working Capital 96.1 119.3 119.5 (23.4) (0.2)

as % of LTM Net Revenues 5.8% 6.7% 6.4%

% of Net Revenues

€83.7m

€136.9m

5.0% 7.3%

2015 2016

Net Working Capital

Capital Expenditure

Technology Operations Other

Dec 2016Dec 2015 FY 2016Jun 2016 2H 2016

% of Net Revenues

€36.8m

€88.8m

4.2% 9.1%

2H 2015 2H 2016

Balance Sheet Cash Flow

P A G E N U M B E R




OUTLOOK FOR 2017

Q&A

P A G E N U M B E R

1. Organic net revenue growth is calculated at constant exchange rates and at comparable perimeter by including net revenues of all online stores active at the end of each period, which were also active at the beginning of the same period of the previous year.

Organic Net Revenue

Growth1Within 5Y Plan range of 17-20%

Adjusted EBITDA Margin

Capital Expenditure

Free Cash Flow

Slight improvement on 2016

~€160-170 million

Lower absorption than in 2016

P A G E N U M B E R

Further enrichment of brand portfolio with new prestige brands and exclusive

capsule collections, including:

–Alaïa ready-to-wear on NET-A-PORTER since January

– Stella McCartney’s first-ever menswear collection on MR PORTER since

February

– Strengthening of successful partnership with Prada Group following NET-A-

PORTER and MR PORTER becoming their exclusive online-only luxury retail

partners in 2016

Important developments in the new Fine Jewellery & Watches category,

building on 2016 successes, including:

– Extension of scope for NET-A-PORTER’s global exclusive collaboration with

Tiffany & Co. Jewellery: introduction of Infinity collection and Fine Watches

Launch of MR PORTER private label in 4Q 2017

Further service enhancements, with strong focus on EIPs:

– Strengthened on-the-ground presence of Personal Shoppers and Client

Relations teams (including West Coast, Middle East and APAC)

– Introduction of new innovative delivery and return options setting new

service standards for luxury e-commerce

Enrichment of content offering to be further leveraged as a marketing tool to

drive further engagement

P A G E N U M B E R

Kick-off of THE OUTNET’s international expansion upon migration to new

omni-stock set-up and inheritance of YOOX’s localisation platform

capabilities in 2H 2017:

– 5 new currencies (Russian Rouble, Australian Dollar, Chinese Won,

Japanese Yen, Hong Kong Dollar)

–New local payment methods in Germany, Austria, China and Russia and

Cash on Delivery in select European and Asian countries

–New regionally-relevant delivery methods in Continental Europe, Russia

and APAC

– Full website translation and in-language customer care in Russia from 4Q

2017

Further product enrichment:

–Debut of activewear on THE OUTNET in January 2017

– Launch of YOOX’s private label business in 4Q 2017

Further service enhancement

– Introduction of new dedicated value-added services for YOOX native app

– Roll-out of pick-up and drop-off points in Italy, UK, Germany and Benelux

following successful experience in France and Spain

P A G E N U M B E R

Ongoing dynamic and profit-driven portfolio optimisation strategy

Capitalising on the Omni-channel opportunity:

– Laying the foundations for the go-live of the first next generation omni-

channel partnership for one of the Group’s customers

– Roll-out of existing innovative omni-channel functionalities to more of the

Group’s online flagship stores, including Click from store, Check online in-

store availability, Pick-up and Return in store for Moncler

Significant upgrade of front-end capabilities upon the roll-out of the new core

e-commerce platform to select online stores, including:

– Strengthened precision marketing and personalization capabilities

– Enhanced mobile experience

Strong growth expected from existing portfolio

Relevant new business developments including isabelmarant.com launch in

mid 2017 and signing of new partnership

Joint decision of YNAP and Diesel to terminate the management of Diesel

online store in late March (~1% of Group’s net revenues in 2016) and refocus

the collaboration on YOOX.COM. Successful mono-brand partnership with

OTB group to continue with the management of Maison Margiela, Marni and

Just Cavalli online flagship stores until 2020/2021

P A G E N U M B E R

THE

OUTNET.COM

YOOX.COMMR PORTER.COMNET-A-

PORTER.COM

ONLINE

FLAGSHIP STORES

API LAYER

CORE E-COMMERCE PLATFORM

PRODUCT INFORMATION MANAGEMENT

ORDER MANAGEMENT SYSTEM

BACK-END SYSTEMS (ERP, WMS)

INFRASTRUCTURE

SM

AR

T D

AT

A

FR

ON

T E

ND

In-Season

Off-Season

Shared across

In-Season & Off-Season

B2B Intercompany flows

/ JIT and Replenishment

B2C / last-mile flows

Development of new photo studios and capacity expansion at Interporto

(Bologna) in 1H 2017 in anticipation of THE OUTNET’s migration

Roll-out of new core e-commerce platform to THE OUTNET and select online

flagship stores

Completion of convergence and Omni-stock programme for Off-Season

in 2H 2017

Opening of new office and distribution centre in Dubai by end of 2017; set-up

of In-Season hub in Milan with state-of-the-art automated Order Storage &

Retrieval System. Fully operational in 2018

–Unlocking same-day delivery capabilities in Milan and Dubai in addition to

London, New York and Hong Kong

Ongoing investment to enhance delivery and return proposition

P A G E N U M B E R




OUTLOOK FOR 2017

Q&A

P A G E N U M B E R

FY 2016 RESULTS

– KEY 2016 DEVELOPMENTS

– FROM EBITDA TO NET INCOME

– FOCUS ON INCENTIVE PLAN COSTS

– NET FINANCIAL POSITION AND DEBT FACILITIES OVERVIEW

– SUMMARY BALANCE SHEET

ONLINE FLAGSHIP STORES POWERED BY YOOX NET-A-PORTER GROUP

SHAREHOLDER STRUCTURE

EXCHANGE RATES

P A G E N U M B E R

MULTI-BRAND IN-SEASON

Launch of several prestige brands

– IWC Schaffhausen and PRADA on NET-A-PORTER and MR PORTER

– Moncler and Tiffany & Co. on NET-A-PORTER, Giorgio Armani and Ermenegildo Zegna on MR PORTER

Debut of exclusive capsule collections, including GUCCI for NET-A-PORTER

Enhancement of MR PORTER content offering

Launch of MR PORTER Apple TV App

NET-A-PORTER and MR PORTER named “Luxury Retailer of the Year 2016” by Luxury Daily

New 5-year global agreement with Isabel Marant for isabelmarant.com, launching in June 2017

Global debut of Chloé and Alfred Dunhill; launch of A|X Armani Exchange in US

Continued outstanding performance of the JV with Kering

Renewal of important partnerships: Armani until 2025; Moncler, Valentino, REDValentino and Marni until 2021

Ongoing dynamic brand portfolio management strategy

– Contracts accounting for a combined 0.8% of Group’s net revenues in 2016 not being renewed

Further enrichment of brand offering with the introduction of

– Burberry Children, shop-in-shops of Polo Ralph Lauren, Montblanc and of Disney’s fashion collaborations with

designers on YOOX

– Tom Ford, Fendi, Etro and Iris & Ink’s first footwear collection on THE OUTNET

Launch of new YOOX release, redesigned with brand positioning and user-centric shopping experience in mind

Makeover of THE OUTNET, with more mobile-friendly interface and launch of its first Android native app

MULTI-BRAND OFF-SEASON

ONLINE FLAGSHIP STORES

Delivery of Integration plan on track: migration of all former YOOX Group’s online stores to new OMS and

convergence towards a common ERP

PLATFORM

€100m capital increase subscribed by Alabbar Enterprises

Signing of JV agreement with Alabbar for the Middle East

P A G E N U M B E R

€133.1m

€(6.7)m

€126.4m

€(56.9)m

€69.5m €0.6m €0.8m

€(17.4)m

€53.4m €6.3m €59.7m

AdjustedEBITDA

Incentive PlanCosts

("IPCs")

EBITDA D&A EBIT Income / (Loss)From Associates

Net FinancialIncome /

(Expenses)

Taxes NetIncome

IPCs net ofrelated tax

effects

AdjustedNet

Income

€155.7m

€(12.4)m

€143.4m

€(58.4)m

€(32.8)m

€52.2m €0.4m

€(4.1)m€(14.6)m

€33.9m

€35.4m €69.3m

AdjustedEBITDA

Incentive PlanCosts

("IPCs")

EBITDA OrdinaryD&A

PPA-relatedamortisation

EBIT Income/ (Loss)From

Associates

Net FinancialIncome /

(Expenses)

Taxes NetIncome

IPCs & PPARelated D&Anet of related

tax effects

AdjustedNet

Income

2015 Pro-Forma

2016

% of Net Revenues8.3% 7.7% 3.7%1.8%

% of Net Revenues7.6% 4.2% 3.6%3.2%8.0%

2.8%

P A G E N U M B E R

(€m )

Fulf i l lm ent (165.709) (181.417)

of which Incentive Plan Costs (0.009) 0.1% (0.059) 0.5%

Sales & Marketing (203.546) (230.775)

of which Incentive Plan Costs (0.078 ) 1.2% (1.468 ) 11.9%

General & Adm inistrative (156.711) (170.738)

of which Incentive Plan Costs (6.63 3 ) 98.7% (10.8 23 ) 87.6%

Incentive Plan Costs (6.720) 100.0% (12.3 51) 100.0%

EBITDA 126.3 73 143 .3 52

% of Net Revenues 7.6% 7.7%

Incentive Plan Costs (6.720) (12.351)

Adjusted EBITDA 1 13 3 .093 155.703

% of Net Revenues 8.0% 8.3%

2015 Pro-Forma

% of Total

2016% of Total

1. For full glossary and the description of the pro-forma adjustments, please refer to slide 31

P A G E N U M B E R

(€m )

Overdrafts 69.9 0.0 69.9

Bank Loans 201.2 76.2 125.0

European Investment Bank 27.2 27.2 -

Financial Leases & Other 11.4 11.4 -

Total 309.9 114.9 194.9

(€m )

Cash and Cash Equivalents 130.3 155.5

Other Current Financial Assets 63.1 67.7

Current Financial Assets 193.4 223.1

Current Financial Liabilities (30.1) (19.4)

Long Term Financial Liabilities (101.2) (99.0)

(Net Financial Debt) / Net Cash 62.1 104.7

Dec 2016Dec 2015

Long average maturity of outstanding debt (>80% of loans due between 2019 and 2020) at an average cost of debt of ~110bps over the 3/6 month Euribor

AvailableDrawnGranted

Net Financial Position

Overview of Debt Facilities at 31 December 2016

P A G E N U M B E R

(€m )

Net Working Capital (23.8) 36.6 60.4

Non-Current Assets 2,013.2 1,880.4 (132.8)

Non-Current Liabilities (excl. financial liabilities) (15.0) (85.7) (70.7)

Total 1,974.4 1831.3 (143.1)

Net Financial Debt / (Net Cash) (62.1) (104.7) (42.6)

Shareholders' Equity 2,036.5 1,936.0 (100.5)

Total 1,974.4 1831.3 (143.1)

ChangeDec 2015 Dec 2016

P A G E N U M B E R

Online Flagship Stores “Powered by YOOX NET-A-PORTER GROUP”

JVCo with Kering

alexanderwang.com

pomellato.com

barbarabui.com

moncler.com

trussardi.com

dodo.it

dsquared2.com

moschino.com

emiliopucci.com

valentino.com

stoneisland.com

marni.com

emporioarmani.com

diesel.com

jilsander.com

albertaferretti.com

justcavalli.com

y-3store.com

kartell.com

ysl.com

mcq.com

bottegaveneta.com

sergiorossi.com

alexandermcqueen.com

stellamccartney.com

balenciaga.com

missoni.com

redvalentino.com

lanvin.com

brioni.com

chloe.com

dunhill.com

karl.com

maisonmargiela.com

jimmychoo.com

isabelmarant.com

napapijri.com

OPENING SOON

armani.com

P A G E N U M B E R

Feder ico Marchet t i 7 ,581,814 5.4% 5,164,667 3.9% 7,581,814 7.5% 5,164,667 5.7%

YNAP Managem ent team and other stock option holders 5,218,656 3.7% 5,218,656 5.2%

Sub-total 12,800,470 9.0% 5,164,667 3.9% 12,800,470 12.7% 5,164,667 5.7%

Richem ont 65,599,597 46.4% 65,599,597 49.0% 25,279,391 25.0% 22,693,459 25.0%

Renzo Rosso 5,186,321 3.7% 5,186,321 3.9% 5,186,321 5.1% 5,186,321 5.7%

Alabbar Enterprises 3,571,428 2.5% 3,571,428 2.7% 3,571,428 3.5% 3,571,428 3.9%

Capital Research and Managem ent Com pany 3,288,469 2.3% 3,288,469 2.5% 3,288,469 3.3% 3,288,469 3.6%

Fidelity International 2,897,225 2.0% 2,897,225 2.2% 2,897,225 2.9% 2,897,225 3.2%

Market 48,094,259 34.0% 48,094,259 35.9% 48,094,259 47.6% 48,094,259 52.9%

Tota l Outs tanding Shares 141,437,769 100.0% 133,801,966 100.0% 101,117,562 100.0% 90,895,828 100.0%

Treasury Shares 17,339 0.0% 17,339 0.0% 17,339 0.0% 17,339 0.0%

Tota l Issued Shares 141,455,108 100.0% 133,819,305 100.0% 101,134,901 100.0% 90,913,167 100.0%

Shareholders

Total Ordinary Capital (Voting)

Total Share Capital (Ordinary + Non-voting)

1 1

Updated as of 1 March 20171. Computed assuming that all of the 7,635,803 stock options granted under YOOX NET-A-PORTER GROUP S.p.A.’s stock option plans are exercised2. Excludes Federico Marchetti3. The number of ordinary shares is calculated assuming that Richemont converts 2,585,931 non-voting shares to ordinary shares (ratio of 1:1) in order to re-establish the maximum of 25% of shares with voting rights as stipulated by the New Bylaws

3

2

Diluted Current Diluted Current

P A G E N U M B E R

Period Average End of Period

2015 4Q 2015 4Q 2016 Mar 2016Dec 2015 Jun 2016 Sep 20162016 Dec 2016

EUR USD 1.110 1.107 1.104 1.098 1.095 1.078 1.08 9 1.13 9 1.110 1.116 1.054

% yoy appreciation / (depreciation) vs.

EUR19.7% 0.2% 0.5% 14.1% 1.6% 11.5% (5.5%) 0.8% 0.4% 3.3%

0 0 0 0

EUR GBP 0.726 0.8 19 0.720 0.8 59 0.722 0.8 69 0.73 4 0.792 0.8 27 0.8 61 0.8 56


EUR11.1% (11.4%) (16.2%) 9.3% (16.9%) 6.1% (8.1%) (13.9%) (14.2%) (14.3%)

0 0 0 0

EUR JPY 13 4.3 14 120.197 13 4.419 116.077 13 2.952 117.918 13 1.070 127.900 114.050 113 .090 123 .400


EUR4.5% 11.7% 15.8% 7.4% 12.7% 10.8% 0.8% 20.1% 19.1% 6.2%

0 0 0 0

EUR CNY 6.973 7.3 52 7.004 7.407 7.000 7.3 69 7.061 7.3 51 7.3 76 7.446 7.3 20


EUR17.4% (5.2%) (5.4%) 9.7% (5.0%) 6.7% (9.3%) (6.0%) (4.4%) (3.5%)

0 0 0 0

EUR RUB 68 .072 74.145 71.3 46 70.08 8 72.405 67.997 8 0.674 76.3 05 71.520 70.514 64.3 00


EUR(25.2%) (8.2%) 1.8% (17.5%) 6.5% (10.3%) (18.2%) (12.8%) 3.9% 25.5%

0 0 0 0

EUR HKD 8 .601 8 .592 8 .553 8 .518 8 .48 9 8 .3 70 8 .43 8 8 .8 28 8 .614 8 .655 8 .175


EUR19.8% 0.1% 0.4% 14.2% 1.4% 11.6% (5.5%) 0.7% 0.3% 3.2%

0 0 0 0

EUR KRW 1,256.544 1,28 4.18 1 1,28 4.43 8 1,250.248 1,268 .03 8 1,249.517 1,28 0.78 0 1,294.8 8 0 1,278 .48 0 1,229.760 1,269.3 60


EUR11.3% (2.2%) 2.7% 7.1% 1.5% 3.4% (7.9%) (2.1%) 8.0% 0.9%

0 0 0 0

EUR AUD 1.478 1.48 8 1.527 1.455 1.521 1.43 8 1.490 1.48 1 1.493 1.466 1.460


EUR(0.4%) (0.7%) 4.9% (4.0%) 5.7% (0.5%) (4.4%) (2.5%) 8.7% 2.1%

0 0 0 0

EUR CAD 1.419 1.466 1.458 1.448 1.462 1.440 1.512 1.474 1.43 8 1.469 1.419


EUR3.4% (3.2%) 0.7% (2.9%) 1.5% (7.0%) (6.8%) (3.8%) 2.3% 6.5%

- - -

2H 2015 2H 2016

P A G E N U M B E R

Gross Merchandise Value (GMV): GMV is defined as retail value of sales of all the Online Flagship Stores, including the JV online store sales to

final customers, net of returns and customer discounts. Set-up, design and maintenance fees for the Online Flagship Stores, accounted for

within “Rest of the World and Not Country Related”, are excluded

Pro-forma: Pro-forma Financials relating to the 6-month periods ended 30 June 2015 of YOOX-NET-A-PORTER GROUP S.p.A. have been

adjusted by aggregating the historical data of YOOX Group and of THE NET-A-PORTER GROUP and then carrying out adjustments for the

purpose of simulating the economic effects of the merger on the operating performance of YOOX NET-A-PORTER GROUP as if such

transaction had virtually occurred at the beginning of the 2015 fiscal year (1 January 2015), exclusively presented for comparative purposes

Adjusted EBITDA: Adjusted EBITDA is defined as reported EBITDA before the non-cash costs associated with the existing Stock Option Plans

Adjusted Operating Profit: Adjusted Operating Profit is defined as reported Operating Profit before the non-cash costs associated with the

existing Stock Option Plans and the non-cash amortisation related to the Purchase Price Allocation (“PPA”) arising from the merger

Adjusted Profit Before Tax: Adjusted Profit Before Tax is defined as reported Profit Before Tax before the non-cash costs associated with the

existing Stock Option Plans and the non-cash amortisation related to the Purchase Price Allocation (“PPA”) arising from the merger

Adjusted Net Income: Adjusted Net Income is defined as reported net income before the non-cash costs associated withthe existing Stock

Option Plans, net of their related tax effects, and before the non-cash amortisation related to the Purchase Price Allocation (“PPA”) arising

from the merger, net of its related tax effect

T H I S D O C U ME N T I S P R O P R I E T A R Y A N D C O N F I D E N T I A L . N O P A R T O F T H I S D O C U ME N T MA Y B E D I S C L O S E D I N

A N Y MA N N E R T O A T H I R D P A R T Y W IT H O U T T H E P R I O R W R I TT E N C O N S E N T O F Y O O X N E T - A - P O R T E R G R O U P

[email protected]

@ynap

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