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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.

P A G E N U M B E R

YOOX NET-A-PORTER GROUP FIRST HALF RESULTS TO 30 JUNE 2017

– RESULTS HIGHLIGHTS AND LATEST BUSINESS DEVELOPMENTS

– FINANCIAL REVIEW

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 a 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. For full glossary, please refer to slide 27Note: 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

2Q 2017 net revenues at €519 million, up 20% organic1

Excellent performance across all business lines

Solid growth in all key markets with North America and APAC

outperforming

2Q performance led to 1H 2017 net revenues of €1 billion, up 19%

organic1

1H 2017 adjusted EBITDA2 at €98m, with a margin of 9.5% (vs. 8.5% in

1H 2016)

1H 2017 adjusted net income2 at €38m (vs. €37m in 1H 2016)

Net cash at €85m as at 30 June 2017 (vs. net cash of €105m as at

December 2016) after €80m CAPEX (vs. capex of €48m in 1H 2016)

P A G E N U M B E R

Further enrichment of unique offer through new exclusive capsule collections

– Chloé for NET-A-PORTER, MR PORTER X GUCCI and Tod’s for MR PORTER

New prestigious brand additions to the Fine Jewellery and Watches category

– Piaget and Cartier Panthère watch collection on NET-A-PORTER

Continued focus on mobile developments

– New functionalities released on MR PORTER app now ranked among the top 10 Men’s Fashion

apps on the global App store

Brand additions on both YOOX and THE OUTNET

– Reaffirmed YOOX’s commitment to promote emerging designers and young talents with the launch

of Bianca Balti’s swimwear, ARTHUR ARBESSER X YOOX and Fausto Puglisi collections

– Philosophy (Alberta Ferretti) launched on THE OUTNET

– Strengthened beachwear offer on THE OUTNET: Stella McCartney, Roberto Cavalli, Just Cavalli, La

Perla, Calvin Klein and first-ever Iris & Ink beachwear collection

Successful YOOX’s 17th birthday global campaign through an innovative and diversified media mix

including social networks, new digital formats and radio

New multi-year global agreement with Ferrari for ferrari.com, launching in 1Q 2018

Launch of isabelmarant.com in Europe, US and APAC

See by Chloé added to the global partnership with Chloé

ONLINE FLAGSHIP STORES

Successful launch of the first Online Flagship Store on the new front-end platform

PLATFORM

MULTI-BRAND OFF-SEASON

MULTI-BRAND IN-SEASON

P A G E N U M B E R




Q&A

P A G E N U M B E R

Reported Growth

1.3%

3.7%

Reported Constant Organic

1. Organic net revenue growth is calculated at constant exchange rates and at a 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 theprevious year.

+15.2%

+16.5%

+20.2%

Constant FX Growth Organic Growth1

FX Impact

Perimeter Effect

P A G E N U M B E R

€42.3m €43.5m

€156.1m €189.5m

€252.4m€286.3m

Net Revenue Performance and Breakdown

Constant FX2Q 2017GroupGrowth

56.0%9.4%

55.1%

36.5%

1. Organic net revenue growth is calculated at constant exchange rates and at a 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 excluded.3. Gross merchandise value organic growth is calculated at constant exchange rates and at a 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.

34.6%

8.4%

+3.0%

+15.8%

+21.5%

€519.3m

+21.4%

+15.2%

+2.9%

+13.4%

2Q 2016

2Q 2017 vs 2Q 2016

+16.5%

Constant FX

+8.9%

Organic1

+19.5%

+20.2%

Organic3

+22.6%

Current FX

€450.8m

Online Flagship Stores Gross Merchandise Value2 Growth

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

2.9%

5.9%8.8%

Online Flagship StoresNet Revenue Growth

Impact of different bookingfor the JV online store sales

and Not Country Related

Online Flagship StoresGross Merchandise Growth

P A G E N U M B E R

(€m )

Italy 57.5 64.4 12.0% 12.2% 29.2 33.1 13.2% 13.2%

UK 135.2 138.5 2.4% 13.0% 70.2 71.8 2.2% 11.7%

Rest of Europe 238.4 267.0 12.0% 9.7% 117.5 132.4 12.8% 11.6%

North America 268.1 322.5 20.3% 17.3% 135.1 161.2 19.3% 17.0%

APAC 137.4 178.5 29.9% 31.9% 68.2 87.4 28.2% 30.8%

Rest of the World + NCR 60.4 63.3 4.9% 13.1% 30.7 33.4 9.0% 16.3%

Group Net Revenues 897.0 1,034.1 15.3% 16.3% 450.8 519.3 15.2% 16.5%

1. Not Country Related

29.9%

15.1%15.3%

6.7%

26.6%

6.4%

1H 2016 1H 2017

31.2%

13.4%17.3%

6.1% 6.2%

25.8%

2Q 2016

15.1%

6.8%

15.6%

30.0%

6.5%

26.0%

16.8%

6.4%

13.8%

31.1%

6.4%

2Q 2017

25.5%

Net Revenue Performance

Net Revenue Breakdown

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

1H 2016 1H 2017 % Growth% Growth

Constant FX 2Q 2016 2Q 2017 % Growth% Growth

Constant FX

1

P A G E N U M B E R

10.4 11.7

9.711.4

8.59.4

1H 20171H 2016 1H 2016 1H 2017

1H 2016

335345 346 347

2Q 20172Q 2016

+3.0% +0.2% +17.3%

2,600

3,050

2Q 20172Q 20161H 2017

3,9454,452

1,9552,265

+12.9% +15.9%

# Orders (‘000) - Group

Average Order Value (€) - Group Active Customers3 (‘000) - Group4

Constant FXConstant FX

+3.8% +1.0%

74.9 84.7

152.8183.6

115.0

125.8

342.7

394.1

1H 20171H 2016

33.7 37.7

74.793.2

56.3

63.1164.6

194.0

+15.0%

+13.2%

+17.9%

2Q 2016 2Q 2017

Visits (m)2

+20.2%

+12.1%

+11.9%

+24.9%

Organic Organic

+18.1%

+17.4%+9.3%

GroupGrowth


1.Key performance indicators do not include the Joint Venture with Kering2.Source: Adobe Analytics for NET-A-PORTER, MR PORTER and THE OUTNET; Google Analytics Premium for YOOX, THECORNER, SHOESCRIBE and the Online Flagship Stores "Powered by YOOX NET-A-PORTER GROUP“3.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 period4. Includes Active Customers of the Online Flagship Stores “Powered by YOOX NET-A-PORTER GROUP”

+22.3%+17.4%

+23.8%+9.8%

P A G E N U M B E R

Reported Growth

1.0%

3.2%

Reported Constant Organic

FX Impact

1. Organic net revenue growth is calculated at constant exchange rates and at a 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 theprevious year.

+15.3%

+16.3%

+19.5%

Constant FX Growth Organic Growth1

Perimeter Effect

P A G E N U M B E R

(€m )

Net Revenues 897.0 1,034.1

growth 13.3% 15.3%

COGS (542.2) (619.6)

Gross Profit 354.9 414.5

% of Net Revenues 39.6% 40.1%

Fulfillment Excl. IPC (88.5) (99.9)


Sales & Marketing Excl. IPC (106.0) (124.4)


General & Administrative Excl. IPC (81.0) (87.5)


Other Income / (Expenses) (2.8) (4.6)

Adjusted EBITDA 76.5 98.0


Ordinary Depreciation & Amortisation (24.4) (36.5)


Adjusted Operating Profit 52.2 61.5


Income / (Loss) From Investment In Associates 0.2 0.0

Net Financial Income / (Expenses) (1.0) (10.0)

Adjusted Profit Before Tax 51.4 51.6


Taxes (14.4) (13.5)

Adjusted Net Income 37.0 38.0


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 27

1H 20171H 2016

2

2

2

2

P A G E N U M B E R

(€m )

Net Revenues 897.0 1,034.1

growth 13.3% 15.3%

COGS (542.2) (619.6)

Gross Profit 354.9 414.5


Fulfillment Excl. IPC (88.5) (99.9)


Sales & Marketing Excl. IPC (106.0) (124.4)


General & Administrative Excl. IPC (81.0) (87.5)


Incentive Plan Costs (IPC) (5.9) (6.6)

Other Income / (Expenses) (2.8) (4.6)

Reported EBITDA 70.6 91.4


Ordinary Depreciation & Amortisation (24.4) (36.5)


PPA-related amortisation (17.3) (15.6)


Reported Operating Profit 29.0 39.3


Income / (Loss) From Investment In Associates 0.2 0.0

Net Financial Income / (Expenses) (1.0) (10.0)

Reported Profit Before Tax 28.2 29.4


Taxes (9.4) (8.8)

Reported Net Income 18.8 20.6


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

1H 20171H 2016

P A G E N U M B E R

Gross Profit by Business Line

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

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

% of divisionNet revenues

42.0%

1H 20171H 2016

42.4% 36.7%

1H 20171H 2016

37.7% 36.1%

1H 20171H 2016

36.3%

€206.0m

€234.4m

€116.9m

€144.0m

€32.0m€36.1m

P A G E N U M B E R

(€m )

Adjusted EBITDA 76.5 98.0

Realised Net Financial Income / (Expenses) & Associates (2.5) (5.6)

Taxes paid (10.9) (16.5)

Change in Ordinary Working Capital (23.2) (6.2)

Capital Expenditure (48.1) (80.2)

Other (15.0) (29.5)

Translation Adj. 4.3

Free Cash Flow at Constant FX (23.3) (35.7)

Cash Flow Statement

1H 20171H 2016

1

Net Financial Position Evolution

€104.7m

€98.0m

€(5.6)m€(16.5)m €(6.2)m

€(80.2)m€(29.5)m

€20.1m €84.7m

Dec 2016Net Cash

AdjustedEBITDA

Net FinancialIncome / (Expenses)

& Associates

Taxespaid

Change inOrdinaryWorkingCapital

CapitalExpenditure

Other AlabbarEquity

Contribution

June 2017Net Cash

3

1

1. Mainly refers to deferred tax assets and liabilities, exchange rate impact resulting from the consolidation of foreign subsidiaries and other reserves 2. 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 of 30 June 2017 and as of 31 December 20163. Equity injection by Symphony, a company controlled by Mohamed Alabbar’s family, into Middle East Joint Venture

2

P A G E N U M B E R

(€m )

Inventories 530.7 578.2 646.3 (68.1)

Trade Receivables 23.9 32.4 40.6 (8.2)

Trade Payables (362.2) (399.4) (478.8) 79.4

Other Receivables / (Payables) (73.1) (91.7) (82.3) (9.4)

Ordinary Net Working Capital 119.3 119.5 125.7 (6.2)

as % of LTM Net Revenues 6.7% 6.4% 6.3%

% of Net Revenues

€48.1m

€80.2m

5.4% 7.8%

1H 2016 1H 2017

Net Working Capital

Capital Expenditure

Technology Operations Other

Jun 2017Jun 2016 Dec 2016 1H 2017

Balance Sheet Cash Flow

P A G E N U M B E R




Q&A

P A G E N U M B E R

FIRST HALF 2017 RESULTS

– NET REVENUE REVIEW BY BUSINESS LINE - FIRST HALF 2017

– 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


€88.7m €99.5m

€318.3m€381.7m

€490.1m

€552.9m

Net Revenue Performance and Breakdown

€1,034.1m

€897.0m

1H 2017

54.6%

35.5%

53.5%9.6%

Online Flagship Stores Gross Merchandise Value2 Growth

9.9%

36.9%

+12.3%

+15.3%

+18.8%

+12.2%

+12.8%

+15.3%

+19.9%

1H 2016

1H 2016 vs 1H 2017

+16.3%

+16.6%

Current FX

+19.8%

+19.5%

+23.9%

GroupGrowth

Constant FX Organic1

Constant FX Organic3

12.2%

4.4% 16.6%

Online Flagship StoresNet Revenue Growth

Impact of different bookingfor the JV online store sales

and Not Country Related

Online Flagship StoresGross Merchandise Growth

1. Organic net revenue growth is calculated at constant exchange rates and at a 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 excluded.3. Gross merchandise value organic growth is calculated at constant exchange rates and at a 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.

P A G E N U M B E R

€76.5m

€(5.9)m

€70.6m

€(24.4)m

€(17.3)m

€29.0m €0.2m

€(1.0)m€(9.4)m

€18.8m

€18.2m €37.0m

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

€98.0m

€(6.6)m

€91.4m

€(36.5)m

€(15.6)m

€39.3m €0.0m

€(10.0)m€(8.8)m

€20.6m

€17.5m €38.0m

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

1H 2016

1H 2017

% of Net Revenues 9.5% 8.8% 3.7%2.0%3.8%

% of Net Revenues 8.5% 7.9% 4.1%2.1%3.2%

P A G E N U M B E R

(€m )

Fulf i l lm ent (88.518) (99.971)

of which Incentive Plan Costs (0.017) 0.3% (0.051) 0.8%

Sales & Marketing (106.790) (124.926)

of which Incentive Plan Costs (0.754) 12.7% (0.505) 7.7%

General & Adm inistrative (86.178) (93.525)

of which Incentive Plan Costs (5.143 ) 87.0% (5.998 ) 91.5%

Incentive Plan Costs (5.914) 100.0% (6.555) 100.0%

EBITDA 70.603 91.43 9


Incentive Plan Costs (5.914) (6.555)

Adjusted EBITDA 1 76.517 97.994


1H 2016% of Total

1H 2017% of Total

1. For full glossary and the description of the pro-forma adjustments, please refer to slide 27

P A G E N U M B E R

(€m )

Cash and Cash Equivalents 155.5 186.5

Other Current Financial Assets 67.7 41.5

Current Financial Assets 223.1 228.0

Current Financial Liabilities (19.4) (61.3)

Long Term Financial Liabilities (99.0) (82.0)

(Net Financial Debt) / Net Cash 104.7 84.7

(€m )

Overdrafts 123.8 0.0 123.8

Bank Loans 200.4 75.4 125.0

European Investment Bank 22.8 22.8 -

Financial Leases & Other 45.2 45.2 -

Total 392.1 143.4 248.8

June 2017Dec 2016

Long average maturity of outstanding debt (>80% of loans due between 2019 and 2020) at an average cost of debt of ~105bps over the 3/6 month Euribor

AvailableDrawnGranted

Net Financial Position

Overview of Debt Facilities at 30 June 2017

P A G E N U M B E R

(€m )

Net Working Capital 0.6 36.6 61.7 25.1

Non-Current Assets 1,914.3 1,880.4 1,866.5 (13.9)

Non-Current Liabilities (excl. financial liabilities) (90.8) (85.7) (80.8) 4.8

Total 1,824.1 1,831.3 1,847.3 16.0

Net Financial Debt / (Net Cash) (138.8) (104.7) (84.7) 20.0

Shareholders' Equity 1,962.9 1,936.0 1,932.1 (3.9)

Total 1,824.1 1,831.3 1,847.3 16.0

ChangeDec 2016Jun 2016 Jun 2017

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

moncler.com

trussardi.com

dodo.it

dsquared2.com

moschino.com

emiliopucci.com

stoneisland.com

marni.com

jilsander.com

valentino.com

emporioarmani.comalbertaferretti.com

justcavalli.com

y-3store.com

kartell.com

ysl.com

mcq.com

bottegaveneta.com

alexandermcqueen.com

stellamccartney.com

balenciaga.com

missoni.com

redvalentino.com

lanvin.com

brioni.com

chloe.com

dunhill.com

karl.com

maisonmargiela.com

napapijri.com

isabelmarant.com

armani.com

OPENING SOON

ferrari.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 5,243,668 3.7% 5,243,668 5.2%

Sub-total 12,825,482 9.1% 5,164,667 3.9% 12,825,482 12.7% 5,164,667 5.7%

Richem ont 65,599,597 46.3% 65,599,597 49.0% 25,340,057 25.0% 22,693,459 24.9%

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 5,200,690 3.7% 5,200,690 3.9% 5,200,690 5.1% 5,200,690 5.7%

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

Market 46,339,026 32.7% 46,339,026 34.6% 46,339,026 45.7% 46,339,026 50.9%

Tota l Outs tanding Shares 141,619,769 100.0% 133,958,954 100.0% 101,360,229 100.0% 91,052,816 100.0%

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

Tota l Issued Shares 141,637,108 100.0% 133,976,293 100.0% 101,377,568 100.0% 91,070,155 100.0%

Shareholders

Total Ordinary Capital (Voting)

Total Share Capital (Ordinary + Non-voting)

1 1

Updated as of 2 August 20171. Computed assuming that all of the 6,864,756 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 2,646,598 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

EUR USD 1.107 1.116 1.08 3 1.129 1.102 1.054 1.069 1.141

% yoy appreciation / (depreciation) vs. EUR 0.2% (0.0%) 3.0% (2.1%) 2.5% 3.3% 6.5% (2.7%)

EUR GBP 0.8 19 0.779 0.8 61 0.78 7 0.8 61 0.8 56 0.8 56 0.8 79

% yoy appreciation / (depreciation) vs. EUR (11.4%) (6.0%) (9.5%) (8.4%) (8.6%) (14.3%) (7.5%) (6.0%)

EUR JPY 120.197 124.414 121.78 0 121.949 122.58 4 123 .400 119.550 127.750

% yoy appreciation / (depreciation) vs. EUR 11.7% 7.9% 2.2% 10.1% (0.5%) 6.2% 7.0% (10.7%)

EUR CNY 7.3 52 7.296 7.445 7.3 79 7.560 7.3 20 7.3 64 7.73 9

% yoy appreciation / (depreciation) vs. EUR (5.2%) (4.9%) (2.0%) (7.1%) (2.4%) (3.5%) (0.2%) (4.7%)

EUR RUB 74.145 78 .297 62.8 06 74.3 3 5 63 .103 64.3 00 60.3 13 67.545

% yoy appreciation / (depreciation) vs. EUR (8.2%) (17.4%) 24.7% (21.7%) 17.8% 25.5% 26.5% 5.9%

EUR HKD 8 .592 8 .668 8 .420 8 .764 8 .58 3 8 .175 8 .3 07 8 .907

% yoy appreciation / (depreciation) vs. EUR 0.1% (0.2%) 3.0% (2.2%) 2.1% 3.2% 6.3% (3.3%)

EUR KRW 1,28 4.18 1 1,3 18 .916 1,23 6.3 3 0 1,3 13 .744 1,245.8 09 1,269.3 60 1,194.540 1,3 04.560

% yoy appreciation / (depreciation) vs. EUR (2.2%) (3.2%) 6.7% (7.6%) 5.5% 0.9% 8.4% (2.0%)

EUR AUD 1.48 8 1.522 1.43 6 1.515 1.469 1.460 1.3 98 1.48 5

% yoy appreciation / (depreciation) vs. EUR (0.7%) (6.3%) 6.0% (6.2%) 3.1% 2.1% 5.9% 0.5%

EUR CAD 1.466 1.48 4 1.445 1.455 1.48 2 1.419 1.427 1.479

% yoy appreciation / (depreciation) vs. EUR (3.2%) (7.2%) 2.7% (6.6%) (1.8%) 6.5% 3.3% (2.7%)

Period Average End of Period

1H 2016 1H 2017 2Q 2016 Dec 20162Q 2017 Mar 20172016 Jun 2017

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 with the 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]

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