November 2019

Agenda

1. Company Overview

2. Retail and Brand Leadership

3. Strategy

4. Key Financial Metrics

2

Agenda

Chile

82,1%

Uruguay

8,3%

Perú

7,6%

Colombia

2,0%

Footwear66%

Apparel

26%

Accesories 8%

COLOMBIA

PERU

CHILE URUGUAY

25 Store Concepts of retail chains

1As of September 30th, 2019, 2 Converted to USD using average LTM September 30, 2019 exchange rate of 683,6 CLP/USD. 3 Stock price ($1,181) and FX (795,1 CLP/USD) as ofNovember 22nd 2019,

Forus at a glance

Revenue per Subsidiary 2018 2014 RatiosRevenue per Category 2018

Brand Builder & Specialty Retailer

17,9%

Ratios 2018

344

67

54

62

31 Brandsin our portfolio

527 Storesin 4 countries 1

US$ 364 millionin Revenue LTM 3Q19 2

US$ 384 million in Market Cap3

32 e-Commerce SitesMono-brand & multi-brand

41 Int. Awardsfor Brand Building & Retail

Excellence (2011 – 2019)

CAGR sales +12%nominal 2005-2018

10,1% 10,3%11,6%

15,2%

ROA ROS ROE EBITDAMg

Solid Balance Sheet1: US$ 138 million in cash and Net financial debt/Ebitda of -1.1x.

0

300

600

2007 2009 2011 2013 2015 2017 3Q19

Uruguay

Colombia

Peru

Chile

# stores 2019

% of total Sales 3Q’19

Sales LTM 3Q’19

# store concepts 3Q’19*

# of websites*

# of brands 3Q’19*

StoreConcepts

* Sales figures converted to USD using average LTM September 30, 2019 exchange rate of 683,6 CLP/USD. Mn = million.

Snapshot by country

4

344

80,8%

US$ 298.2 Mn

20

19

29

67

8,7%

US$ 28,2 Mn

11

4

13

62

8,7%

US$ 30.5 Mn

10

6

15

54

1.8%

US$ 7.1 Mn

4

3

3

CHILE PERU URUGUAY COLOMBIA

ecommerce in Chile

Acquisitions:

Chile & Peru:

Chile:

New brand (apparel)

Peru & Uruguay:

Calpanyacquisition

The company is renamed Forus S.A.

New store concept

New store concept:

New store concept

New store concept

20172012

New store concept in Peru

New store concepts:

2011

New store concept:

1982

Alfonso Swett S. launches the company with the Hush Puppies brand in Chile. WWW has a 30% stake in the new company.

1995 1996 2001

Enters Uruguay

Alfonso Swett S. acquires WWW´s 30% stake.

New store concept:

1991

2009

The company builds a footwear factory in Chile.

1988 2003

2010

New distribution center in Chile

2013

New Brand&

Chain

JV with WWW in Colombia for the brands:

1993

2014

Acquisition of Hush Puppies Peru operation

Enters Colombia

Acquisition in Uruguay of:

Forus IPO

Enters Peru

Azaleia and Norsegacquisitions.

New stores in Chile

2006 2008

38 years growing with the Latin American consumer

New brand in Uruguay:

2016

1980 2007

Inorganic 1

1 Red i: cash payment. Blue i: WC.

New store concept in Peru

ecommerce in Uruguay

Ne

w

Bra

nd

s

1990 1992 2005

Ne

w

Bra

nd

s

2015

5

2018

New brands in Peru:

ecommerce in Peru & Colombia

New store concept:

New brand and store concept in Uruguay

New multi-brand ecommerce site in Chile

New brand and concept store in Chile, as well as large wholesale business and ecommerce (vans.cl).

2019

Brand building leadership

6

41 International

Awardsin recognition of Forus’ brand building & retail

excellence (2011 – 2019)

Outstanding Performance in Sales Growth Accessories Category , Chile

Outstanding Performance in Sales GrowthAccessories Category , Peru

Bill Brown Achievement AwardIn recognition of Forus’ trajectory in the development and positioning of the CAT brand in Chile, Colombia and Uruguay.

4 INTERNATIONAL AWARDS RECEIVED IN 2019

Distributor of the YearChile

IT ManagerSaul Palma (3)

Forus Uruguay CEOJuan Strauch (19)

Forus Colombia CEOPablo Muxi (5)*

Forus Peru CEOGonzalo Sotomayor (9)**

CEOSebastián Swett O. (30)

BoardAlfonso Swett S. (39)

Chairman

Alfonso Swett O. (26)

Heriberto Urzúa S. (24)

Ricardo Swett S. (19)

Macarena Swett O. (< 1)

Francisco Gutierrez P. (9)

Catalina Cabello R. (< 1)

Experienced and professional management team

(x) Number of years at the Company. In the case of the Board of Directors, the number of years refers to the Director’s tenure as a board member. The Board of Directors reflects the election results as per the April 17, 2019 GSM. Independent directors in orange letters. * Mr. Muxi has been at Forus for a total of five years, one year as Colombia CEO. ** Mr. Sotomayor has been at Forus for eight years, three as Peru CEO.

7

CFOFrancisco Del Río (< 1)

Dir

ect

ors

COOMarisol Céspedes (22)

Committee to be

Brand Business Manager Lifestyle/Outdoor

Juan Pablo Dussaillant (19)

Brand Business Manager Outdoor/Active

Francisco Arrighi (6)

HR & Legal ManagerManuel Somarriva (11)

Retail ManagerMatias Topali (13)

Head of Investor RelationsIsabel Darrigrandi (< 1)

Corporate Retail Real Estate ManagerClaudio Cabrera (16)

Logistics ManagerPatricio Ramírez (13)

Dir

ect

ors

’ C

om

mit

teeCatalina Cabello R. (President)

Heriberto Urzúa Sanchez

Ricardo Swett Saavedra

2018 sales per brand concept

8% as for Consolidated figures. Vans not included in 2018 figures.

Casual52%

Outdoor38%

Active Outdoor8%

Fashion2%

1. Company Overview

2. Retail and Brand Leadership

3. Strategy

4. Key Financial Metrics

Agenda

9

Agenda

Ebitda margin – among the most profitable worldwide

10* As of December of 2018

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5%

10%

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25%

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19,0% 18,3%16,3%

20,7%

26,5%24,9% 24,9%

21,2%

18,3% 17,4%16,2%

15,2%

10,5% 9,7%

7,6%

11,2% 10,7%

7,9%

10,3%

11,4% 9,4%10,5% 9,3%

9,7%

,0

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200,0

300,0

400,0

500,0

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700,0

800,0

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10%

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2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Ebitda Margin vs. Exchange rate

FORUS Retail Players Average FX

Ebitda Margin vs. Exchange rate

Eb

itd

a M

arg

inE

xch

an

ge

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te

Ebitda margin above the industry in Chile

• Retail Average: Falabella, Cencosud , Ripley and Hites. Exchange Rate: average annual CLP/USD. 11

3,3%

5,3%

1,9% 2,3%1,7%

1,3%

4,0%

14,1%

15,8%

14,3%

3,3%

4,2%3,6%

-1,1%

1,3%

12,0%

3,6%3,2%

6,9%

4,1%

-0,6%

2006-2009 2010-2013 2014 2015 2016 2017 2018

Var % PIB Forus Chile Sales Growth Industry Sales Growth

Forus Chile: solid revenue performance over time

4,3x

3,0x

2,5x

GDP information from International Monetary Fund, World Economic Outlook Database.“Industry” and “Retail Players Avg.” includes Chile Department Store Revenue and sales area for Falabella, Ripley, Cencosud and Hites.Figures in USD/Sqm, calculated using the observed dollar exchange rate (in USD/CLP) for December 31st, 2018: 695.7. 12

1.4x 1.5x 1.5x 1.5x 1.4x 1.4x 1.4x

Sales per square meterAverage Total Growth

4.190 4.152 4.087 4.1164.389 4.471

4.287

5.7776.124 6.303

5.9706.209 6.363

6.131

2012 2013 2014 2015 2016 2017 2018

Retail Players Avg.* Forus Chile

3,0x3,0x7,5x

3,0x1,5x 2,8x

-0,3x

GDP Growth

Agenda

13

Agenda

1. Company Overview

2. Retail and Brand Leadership

3. Strategy

4. Key Financial Metrics

Agenda

14

Our DNA

Discipline

Customer Centric

Excellence

PassionEthics

Austerity

We aim to be leaders in specialty retail in footwear, apparel and accessories,both in Chile and abroad, by earning our customers’ preference every day.

We are brand builders

Multi brand store concepts

New brands added to portfolio

1988

1995

2006

1993

New mono- brand store concepts

With important Growth

Brand Revenue CAGR

(2010-2018)**

9.4%

2001

* Numbers represent the years between the arrival of the brand to the market until its first mono-brand store opening.

**Patagonia not included.

2013

+4+4

*1980

1991

1992

+13+22

+9+10

15

We have a portfolio of iconic & consumer-focused brands…

16

8 D

ev

elo

p B

ran

ds

16 N

ich

e B

ran

ds

Big

7

Wolverine World Wide

Columbia Sportswear

AB Group

Brooks

Patagonia

VF Corporation

Burton

Dakine

Vulcabras Azaleia

Church’s

Boardriders

24

Bra

nd

s

7 B

ran

ds

… based on solid, diversified partnerships.

17

LICENSORS BRANDS FORUS PROPRIETARY BRANDS

Aldo Group

Consumer-centric, omnichannel portfolio2

5 S

tore

Co

nce

pts

Mono-Brand

Multi-Brand 61%**

39% **

18*. Store chains with e-commerce web sites (Zapatos.cl and Zapatillas.cl are exclusively online stores). **As a % of total stores as of March 2019.

A robust digital strategy.

Social Media Omnichannel Technology Business Intelligence

19

20

Pillars of omnichannel strategy

20

Mono brand and multi brand websites

Stock online

Ship from store (Forus App)

Click & Collect (Forus App)

Marketplaces

Never out of stock (Forus App)

• Differentiated digital store fronts that leverage brand recognition (and store concepts). The multiple websites are efficiently operated by one, world-class e-commerce platform.

• Store/DC inventory integration platform, updated every 5 minutes. Online assortment (SKUs) based on inventory from both physical stores and DC. Increases assortment, reduces stock outs and optimizes inventory management.

• Using in-store inventory for e-commerce reduces shipping expenses and shipping time; currently rolled out in +130 stores in the Santiago Metropolitan Region (MR).

• Increases customer choice, decreases shipping expenses & shipping time and increases in-store purchases. Attracts new customers that otherwise would not have purchased through e-commerce without C&C. Rolled out in +120 stores in Santiago MR as of November.

• Online traffic aggregators (+ last mile and payment services). New sales channels with the same inventory. Currently participating in Dafiti, Mercado Libre and Mercado Ripley.

• When a product that a customer is looking for is out of stock at a store, the sales person uses the Forus App to find the product (model, size, color) at another store and to make the sale (with C&C or home delivery). Rolled out in +130 stores in Santiago MR as of November.

Omnichannel growing triple digits in Chile

+4.1 million likes & followers

Actively interacting with our Social Media

Forus # 2 in retail category in Chile in number of

Shares, Likes & Comments, according to Comscore (March 2019)

32 e-commerce siteswith strong growth and profitable

e-commercein 4 countries in the region

21

124% YoY growth 7.2% of DTC sales

Forus’ e-commerce in Chile continues to grow and gain scale:3Q19

Sustainable corporate practices

22

Educational institutions

Children in vulnerable situations

LEED Gold Certified

Corporate Head Quarters

Employee professional development

Educational institutions

Support of sports, outdoor &

environmental activities

23

Agenda

1. Company Overview

2. Retail and Brand Leadership

3. Strategy

4. Key Financial Metrics

Consolidated Income Statement

24(*) Margin variations are in percentage points.

Ch$ million 3Q19 3Q18 Var % 9M19 9M18 Var %

Revenues 57,750 56,779 1.7% 180,141 185,797 -3.0%

Gross Profit 28,652 30,059 -4.7% 95,410 102,872 -7.3%

Gross Margin 49.6% 52.9% (3.3) 53.0% 55.4% (2.4)

SG&A Expenses (27,010) (25,122) 7.5% (78,407) (76,431) 2.6%

SG&A / Revenues (46.8%) (44.2%) (2.5) (43.5%) (41.1%) (2.4)

Operating Income 1,642 4,936 -66.7% 17,003 26,440 -35.7%

Operating Margin 2.8% 8.7% (5.9) 9.4% 14.2% (4.8)

Other Income / (Expense) 12 19 -33.6% 11,003 67 16275.6%

Net Financial Income / (Expense) 863 469 83.9% 3,448 979 252.0%

Profit / (Loss) in Associate Companies 13 (74) -117.1% (109) (318) -65.8%

Exchange Rate Differentials 1,098 (79) -1492.4% 645 827 -22.0%

Monetary Correction 7 15 -54.3% 10 12 -15.1%

Other 31 57 -45.6% 217 66 228.8%

Non-Operating Income 2,024 407 397.8% 15,214 1,633 831.6%

Profit before Income Tax 3,666 5,343 -31.4% 32,218 28,074 14.8%

Income Tax (775) (1,406) (8,823) (7,682)

Profit 2,891 3,937 -26.6% 23,395 20,391 14.7%

Profit Margin (%) 5.0% 6.9% (1.9) 13.0% 11.0% 2.0

Profit (loss) attributable to equity holders of parent 2,912 3,950 -26.3% 23,530 20,515 14.7%

Margin (%) 5.0% 7.0% (1.9) 13.1% 11.0% 2.0

Profit (loss) attributable to minority interest (20) (13) 58.8% (135) (123) 9.7%

EBITDA 7,043 6,330 11.3% 31,898 30,602 4.2%

EBITDA Margin 12.2% 11.1% 1.0 17.7% 16.5% 1.2

Consolidated Balance Sheet

25

Ch$ million Sep-19 Dec 18 Ch$ million Sep-19 Dec 18

Cash and cash equivalents 7,583 5,259 Other financial liabilities, current 13,926 2,005

Other financial assets, current 92,236 83,505 Current trade and other current accounts payable 11,400 13,599

Other non-financial assets, current 4,325 3,469 Current accounts payable to related companies 760 967

Trade and other account receivables 28,709 23,588 Other current provisions 2,844 5,831

Accounts receivables from related companies 1 0 Current tax liabilities - -

Inventories 76,068 77,604 Current provisions for employee benefits 5,900 5,886

Tax assets, current 56 2,692 Other non-financial liabilities, current 863 1,280

Total Current Assets 208,981 196,117 Total Current Liabilities 35,693 29,567

Other financial assets, Non-current - 25 Other non-current financial liabilities 42,411 1,625

Other non-financial assets, Non-current 2,318 2,589 Other non-current accounts payable - -

Fees receivables, Non-current 456 206 Deferred taxes liabilities - -

Investments in Associated 1,807 1,946 Other non-financial non-current liabilities - 6

Net intangibles assets 1,882 1,791 Total Non-Current Liabilities 42,411 1,631

Goodwill 5,426 5,426

Property, plant and equipments 95,210 41,331 TOTAL LIABILITIES 78,103 31,198

Deferred tax assets 2,758 2,540

Total Non-Current Assets 109,857 55,854 Equity attributable to equity holders of the parent 240,016 219,906

Non-controlling interest 719 867

Total Equity 240,735 220,773

TOTAL ASSETS 318,838 251,970 TOTAL SHAREHOLDERS EQUITY AND LIABILITIES 318,838 251,970

81 91130 152 150

174 205246279

337 336348 361 357

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

6 10 13 17 14

28

41 4555 53

4738 38 37

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

7,6%11,1% 10,2% 11,1% 9,4%

16,0% 20,0%18,4% 19,6% 15,7% 14,1%10,9% 10,6% 10,3%

12 1625

2824

36

5461

69 7162 61 58 54

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Forus Consolidated Financial Figures

Figures in US$ million, as of January 2nd 2019: 694,8 CLP/USD,

2005-2018 CAGR + 12.3% nominal 2005-2018 CAGR + 12.0% nominal

2005-2018 CAGR + 14.7% nominal

Revenues EBITDA

Net Income

EBITDA Margin

(%)

Net IncomeMargin (%)

26

15%18% 19% 18%

16%21%

26% 25% 25%21%

18% 17% 16% 15%

September 2019December 2008

Ownership Structure

27

Free float31,9%

Controlling Group68,1%

Free Float28,8%

Controlling Group71,2%

Costanera64,6%

Companies related to Costanera

6,6%

Investment Funds16,7%

AFPs (Pension Funds)4,0%

Brokers7,5%

Others0,7%

Costanera

63.0%

Companies related to

Costanera5.1%

Investment & Mutual Funds17.0%

AFPs (Pension Funds)

10.5%

Brokers

3.8%Others0.6%

5 416 16

818

6 6 10 8

15

2516

15

3236

48

93

74

26

28 2823

0

20

40

60

80

100

120

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

One-time Capex (US$ MM)

Capex (US$ MM)

# Gross Stores Opened

8

4 3 2

Chile Perú Colombia Uruguay

Capex 2019 US$ 25 MM *17 Stores

Capex Evolution

2019 Stores Opening Plan and Capex Evolution

28

DC in ChileBillabong &

7veinteAcquisition

2019 Plan of Stores Openings

*Includes land and initial expenditures for the new distribution center.

New HQ in Chile

29

Certain information set forth in this presentation contains “forward-looking information”. Except for statements of

historical fact, information contained herein constitutes forward-looking statements and may include, but is not limited

to, the projected financial performance and financial position of the Company; the expected development of the Company’s

business, projects and joint ventures; the execution of the Company’s vision and growth strategy; the renewal of the

Company’s current customer, supplier and other material agreements; the completion of the Company’s projects that are

currently underway, in development or otherwise under consideration; and the Company’s future liquidity, working

capital, and capital requirements. These statements are not guarantees of future performance and undue reliance should

not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and

uncertainties, which may cause actual performance and financial results in future periods to differ materially from any

projections of future performance or result expressed or implied by such forward-looking statements. The Company

undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions

should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on

forward-looking statements.

Disclaimer