Slide 1: Corporate Presentation October 2026
Corporate Presentation October 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Fourlis Group (the "Company") for informational purposes only. The information contained herein does not constitute an offer, solicitation, or recommendation to buy or sell any securities of the Company or any other entity. The information in this pr
Slide 3: Fourlis Group at a glance
A Leading Retail Group in Southeast Europe 75 yrs €594m 4 40% 25 yrs retail experience FY 2025 sales core markets of sales from partnerships with in Southeast Europe international markets global category leaders RETAIL PORTFOLIO & STRATEGIC PARTICIPATIONS Fourlis Group at a glance Home Furnishings S
Slide 4: Investment Case
Investment Case A scalable retail platform built on global brands, with a clear path to stronger returns from 2027 onwards 1 Leading international brands 25+ yrs IKEA (25+ years, 3 markets) · INTERSPORT (25+ years, 4 markets) · Foot Locker (exclusive, 8 countries) partnerships with global category l
Slide 5: Historical Growth and Profitability
Historical Growth and Profitability Sales (€ mil.) +8% CAGR 2022–26E 645 594 Sustainable demand 522 530 Investment case & Track record 474 Growth in every year, organic and through the network expansion — continuing at +6% YTD in 2026. Cost discipline Margin improved every single year 2022 2023 2024
Slide 6: The Group Has Entered a Structurally Different Phase
The Group Has Entered a Structurally Different Phase 01 02 03 04 A sharper Stronger A shared Increased portfolio focus growth drivers operating model financial flexibility • Trade Estates deconsolidation • Foot Locker acquisition & • Shared services across retail • Stronger capacity to reduce Strate
Slide 7: Fourlis Group Retail Platform
Fourlis Group Retail Platform One common operating platform to run and scale retail concepts faster and more efficiently across Southeast Europe. New concepts SCALABLE GROWTH Plug into the platform Superior customer FOURLIS GROUP RETAIL PLATFORM • experience Concept agnostic and shared capabilities,
Slide 8: 2026: An Investment & Transition Year
2026: An Investment & Transition Year Solid commercial performance. 2026 EBIT reflects transformation costs, strategic growth, external pressures and stock rationalization costs. WHAT HOLDS WHAT WEIGHS ON 2026 EBIT Growth investments +6% targeted expansion, Foot Locker roll-out & InterIKEA DC ramp-u
Slide 9: 2026 one-off actions & Recurring benefits from 2027
2026 one-off actions & Recurring benefits from 2027 2026 · ONE-OFF FROM 2027 · EVERY YEAR SECURED TO DATE €10.7m › €9.1m €7.3m Transformation & reorganisation costs Annual recurring benefits of the €9.1m — c.80% already secured ACTIONS STATUS 2026 ONE-OFF COST · recognised to date ANNUAL RECURRING B
Slide 10: H1 '26 Group & Business Unit performance
H1 ‘26 Group & Business Unit performance Sales Gross profit margin EBIT Contribution from associates €284.0m 46.7% –€1.6m €12.8m +7.6% yoy · L-f-L +3% Gross profit €132.6m Seasonality, inflationary cost pressures, Trade Estates & Sofia South Ring Mall ramp-up costs & Romanian market weakness BY BUSI
Slide 11: IKEA network execution on track
Looking Execution on track ahead ▪ Additional new-generation IKEA stores near small cities from 2027 2026 Execution up to date ▪ IKEA flagship Ellinikon store ▪ Rhodes upgraded from a Pick-up & Order Point to (2029) a new-generation IKEA store ▪ Plovdiv and Limassol upgraded to new-generation H1 Per
Slide 12: Scaling Foot Locker while accelerating INTERSPORT network optimization
Scaling Foot Locker while accelerating INTERSPORT network optimization ▪ 1 new store opened in Greece & 1 in BG ▪ 7 new stores opened ▪ 2 stores closed in Romania as part of the network ▪ Ermou Street store relocated to a new “Reimagined” rationalization plan concept location H1 Performance & Execut
Slide 13: Disciplined Capital Allocation & Strengthened Financial Flexibility
Disciplined Capital Allocation & Strengthened Financial Flexibility Discipline and prioritization in capex investments capex split H1 '26 ▪ €0.15 dividend per share paid in July 2026 Financial flexibility and capital allocation ▪ Share Buyback Program for up to 5% of share capital 19% 23% ▪ SSRM bus
Slide 14: Value creation from Associates
Value creation from Associates Income from Trade Estates (€ mil.) Trade Estates 700 60 Financial flexibility and capital allocation 17.5 601.5 600 541.5 50 500 486.0 40 400 340 8.6 298.4 311.9 30 300 5.7 20 200 22.0 1.4 100 15.2 10 8.9 0 0 Q1 '25 H1 '25 9M '25 FY 25 2023 2024 2025 GAV NAV FFO Strong
Slide 15: YTD 2026 Trading & FY 2026 Guidance
YTD 2026 Trading & FY 2026 Guidance YTD 2026 TRADING up to 23 Sep 2026 FY 2026 GUIDANCE REITERATED SALES GROWTH L-F-L Sales Gross profit margin EBIT Group +6% +3% €645m c.46.5% €15–17m +8.6% yoy Healthy & stable 2.3–2.6% margin Trading Update & Outlook Home Furnishings +2% 0% incl. €10.7m one-off co
Slide 16: Governance & Sustainability; Institutional Shareholder Base
Governance & Sustainability Institutional Shareholder Base Fourlis Family; 30% Quest; Robust Corporate Governance Framework & 13% Alignment with Shareholder Value Creation Management; 1% Hold IM; 10% ▪ Majority independent Board members Institutional Investors; ▪ Fully independent Audit and Nominati
Slide 17: Beyond 2026 – what the Investor Day will cover
Beyond 2026 – what the Investor Day will cover Investor Day 2026 will set out the medium-term value creation framework behind the transformation. 01 Group Strategy & the Retail Platform Trading Update & Outlook 02 Financial Framework & Capital Allocation 03 Business Unit Deep Dives Tuesday, 20 Octob
Slide 18: Appendix
Appendix 18
Slide 19: Group P&L H1 '26
Group (amounts in € mil.) H1 ‘25 % H1 ‘26 P&L H1 ’26 Revenues 264.0 7.6% 284.0 (Continuing Gross Profit 126.4 4.9% 132.6 activities) Gross Profit margin 47.9% 46.7% EBITDA* 30.8 -10.0% 27.7 EBITDA margin 11.7% 9.7% EBIT 6.0 -126.3% -1.6 EBIT margin 2.3% -0.6% Net Financial Income/(expenses) -11.3 -1
Slide 20: Net financial Income/(Expenses) Depreciation Analysis
Net financial Income/(Expenses) Depreciation Analysis Group H1 ’25 H1 ’26 Group H1 ’25 H1 ’26 Interest & Bank expenses & other -3.9 -3.9 Depreciation (assets) 8.4 9.6 IFRS16 interest -7.5 -8.5 Depreciation of Right of Use Assets 16.4 19.7 Total -11.3 -12.4 (RoUA)- IFRS 16 20
Slide 21: EBITDA-adjusted bridge
EBITDA-adjusted bridge EBITDA-adjusted used to better reflect underlying operational performance. EBITDA-adjusted reinstates lease expenses in the calculation, providing a clearer representation of the Group’s underlying profitability and cost structure, independent of lease accounting treatment. Gr
Slide 22: Home Furnishings (IKEA stores) H1 '26
Home Furnishings (IKEA stores) H1 ‘26 (amounts in € mil.) H1 ‘25 % H1 ‘26 Revenues 166.7 3.7% 172.9 Gross Profit 79.6 1.5% 80.8 Gross Profit margin 47.7% 46.7% EBITDA* 20.6 -10.7% 18.4 EBITDA margin 12.4% 10.7% EBIT 8.3 -51.3% 4.0 EBIT margin 5.0% 2.3% EBITDA (adjusted)* 8.6 -35.5% 5.5 EBITDA (adjus
Slide 23: Sporting Goods (Intersport & Foot Locker stores) H1 '26
Sporting Goods (Intersport & Foot Locker stores) H1 ‘26 (amounts in € mil.) H1 ’25 % H1 ‘26 Revenue 95.9 14.2% 109.5 Gross Profit 46.1 10.9% 51.1 Gross Profit margin 48.1% 46.6% EBITDA* 13.5 -1.4% 13.4 EBITDA margin 14.1% 12.2% EBIT 1.8 -135.5% -0.7 EBIT margin 1.9% -0.6% EBITDA (adjusted) * 4.0 -46
Slide 24: Health & Wellness (Holland & Barrett stores) H1 '26
Health & Wellness (HOLLAND & BARRETT stores) H1 ‘26 H1 ‘25 % H1 ‘26 (amounts in € mil.) Revenue 1.5 16.3% 1.8 Gross Profit 0.8 9.6% 0.9 Gross Profit margin 51.3% 48.4% EBITDA* -0.8 13.8% -0.7 EBIT -1.2 -9.4% -1.3 EBITDA (adjusted) * -1.1 1.2% -1.1 24
Slide 25: Balance Sheet H1 2026
Balance Sheet H1 2026 Balance sheet (€ mil.) FY '25 H1 ’26 Property, plant & equipment 91.7 94.5 Right of Use Assets 380.4 416.7 Other Non Current Assets 233.4 239.2 Non-current assets 705.4 750.3 Inventories 143.2 157.3 Receivables 20.8 26.2 Cash & Cash Equivalent 43.2 47.0 Current assets 207.2 230
Slide 26: Group P&L FY '25
(amounts in € mil.) FY '24 % FY '25 Group Revenues 529.7 12.1% 593.7 P&L FY ‘25 Gross Profit 248.4 13.0% 280.6 Gross Profit margin 46.9% 47.3% EBITDA* 73.0 12.6% 82.2 EBITDA margin 13.8% 13.8% EBIT 26.7 15.0% 30.7 EBIT margin 5.0% 5.2% Net Financial Income/(expenses) -21.2 4.9% -22.2 Contribution fr
Slide 27: FY 2025 Operational performance per business unit
FY 2025 Operational performance per business unit Sales EBIT* +7% +22% +3% +65% +3% +42% L-f-L +4% L-f-L +9% 369 27.0 27.8 346 221 181 6.3 3.8 -1.7 -1.0 Home Furnishings Sporting Goods -2.4 -2.3 2024 2025 Home Furnishings Sporting Goods Health & Wellness FH & other 2024 2025 1% EBIT* margin 7.8% 7.5
Slide 28: Maintaining a healthy balance sheet & returning value to shareholders
Maintaining a healthy balance sheet & returning value to shareholders Shareholders Remuneration Net debt 110 102.5 7.0 93.2 90 84.8 85.6 6.0 1.9 1.4 5.0 3.1 70 5.1 1.1 4.0 50 3.0 7.8 7.7 3.1 5.9 6.3 30 2.7 5.4 5.7 2.6 2.0 5.0 4.2 10 1.0 2.1 -10 2022 2023 2024 2025 0.0 2017 2018 2019 2020 2021 FY '22
Slide 29: Thank you
Thank you fourlis.com