Safilo S p A : Q1 2024 Trading Update Presentation

Q1 2024 TRADING UPDATE

MAY 7, 2024

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DISCLAIMER

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.

"In a business environment which is still complex and uncertain, it was again a positive start to the year for our European business, where Carrera and David Beckham kept shining, while North America was affected by a subdued winter season for our sports business and a wholesale eyewear market still weak in the contemporary segment.

In the first quarter, our economic and financial performance was solid.

We improved both our industrial and operating margins, and we maintained a good grip on cash flow.

We remain focused on the objectives of our medium-term strategy, enhancing the quality, uniqueness and innovation of our products and services, while solidifying the core assets of our business model." Angelo Trocchia, CEO

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Q1 2024 TRADING UPDATE

TOTAL SALES PERFORMANCE

Q1 2024

277.2 €M

-3. 5% reported, -1.8%@cFX

(including a reduction in sales resulting from the Jimmy Choo phase-out)

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Q1 2024 TRADING UPDATE

PERFORMANCE IN EUROPE

Q1 2024

125.3 €M

+ 3. 0% reported, +5.8%@cFX

France our most dynamic market. Very positive IPP channel in Germany and ongoing business progress in Poland and Turkey

Carrera and David Beckham outperforming brands, up double digits

Promising launch of new Etro eyewear collections

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Q1 2024 TRADING UPDATE

PERFORMANCE IN NORTH AMERICA

Q1 2024

114.5 €M

-8 . 2% reported, -7.2%@cFX

Subdued winter season hitting Smith's business in physical sports shops

Still weak market in the contemporary sunglass segment, and

Jimmy Choo phase-out

Blenders and Smith's DTC business very positive

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Q1 2024 TRADING UPDATE

PERFORMANCE IN ASIA PACIFIC

Q1 2024

11.9 €M

-1 . 1% reported, +2.3%@cFX

Positive performance in China, also supported by good results at the Shanghai fair held in March

Smith continuing to outperform in Australia

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Q1 2024 TRADING UPDATE

PERFORMANCE IN REST OF WORLD

Q1 2024

25.6 €M

-11 . 3% reported, -12.7%@cFX

Different timing of some deliveries in Middle East and soft travel retail business in Latin America

Carrera and Polaroid making nice progress in India

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Q1 2024 TRADING UPDATE

ECONOMIC PERFORMANCE

Q1 2024 GROSS PROFIT

166.2 €M, -1.0%

GROSS MARGIN

60.0%, +160 bps

Higher production efficiency and lower D&A resulting from 2023 industrial restructuring

Positive pricing and channel mix offsetting dilutive effect of phase-out sales

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Q1 2024 TRADING UPDATE

ECONOMIC PERFORMANCE

Q1 2024 ADJ.1 EBITDA

32.0 €M, -1.3%

ADJ.1 EBITDA MARGIN

11.5%, +20 bps

Normalization of IT and marketing investments

Operating leverage still slightly negative