Slide 1: Tapestry
tapestry coacsi | kate spade | STUART WEITZMAN NEW YORK © 2024 Tapestry, nc
Slide 2: Forward-looking statements
This presentation contains certain “forward-looking statements” based on management's current expectations. Forward-looking statements include, but are not limited to statements which can be identified by the use of forward-looking terminology such as “may,” “will,” “can,” “should,” “expect,” “inten
Slide 3: Purpose
Purpose STRETCH WHAT'S POSSIBLE STRETCH speaks to how tensions challenge and pull us in new directions. These tensions compel us to look beyond ourselves and embrace new perspectives, experiences and ideas. WHAT'S POSSIBLE refers to what happens when we embrace the creative tensions within each othe
Slide 4: Values
Values Built by go-getters who saw unseen needs and took daring leaps, we channel that same passion today, doing what it takes to make the dream happen and refusing to settle for anything less. From how we source, to how we sew, to how we sell, we insist on the highest integrity at each step, doing
Slide 5: Competitive Advantages
bi ' . & Competitive Avhantages UR a 01 02 08 tapestry 5 4 O05
Slide 6: Iconic Brands
OT Iconic Brands — ROR G OAC H kate spade STUART WEITZMAN NEW YORK tapestry
Slide 7: Attractive Categories
02 Attractive Categories RESILIENT CATEGORIES WITH CONTINUED. GROWTH EXPECTED IN COMPETITIVE MARKET PERSONAL PREMIUM GOODS") WE PLAY IN Growing & High-margin Categories y y a HANDBAGS, SLGS, FTW & APPAREL") HANDBAGS, SLGS & FTW!) TAPESTRY FY23 (1) Global market; Source Euromonitor CY23. Global perso
Slide 8: Diversified Model with Omni-Channel Leadership
03 Diversified Model with Omni-Channel Leadership Women's Accessories 20% Category High-growth, high-margin categories Resilient & durable demand given emotional & functional needs these categories fulfill Global leader in core categories with permission to play in lifestyle coum Geography China 15%
Slide 9: Global Platform
04 Global Platform Modern, Data-driven & Agile Platform DESIGNED TO DRIVE CONSUMER ENGAGEMENT tapestry ’
Slide 10: Talented Team
05 Talented Team Joanne Scott Roe Crevoiserat CHIEF FINANCIAL CHIEF EXECUTIVE OFFICER & CHIEF OFFICER OPERATING OFFICER Andrea Shaw Resnick CHIEF COMMUNICATIONS OFFICER Todd Kahn CEO & BRAND PRESIDENT COACH Peter Charles CHIEF SUPPLY CHAIN OFFICER . A 8 David Howard Liz Fraser CEO & BRAND PRESIDENT
Slide 11: Powering Iconic Brands to Move at the Speed of the Consumer
WE'RE POWERING ICONIC BRANDS TO MOVE AT THE SPEED OF THE CONSUMER futurespeed
Slide 12: Q3 Overview and FY24 Outlook
Q3 Overvietores o% FY24 Outlook ws 2s tapestry
Slide 13: Third Quarter Highlights
Third Quarter Highlights Drove third quarter operating income and EPS ahead of expectations DELIVERED REVENUE OF APPROXIMATELY IN LINE WITH THE PRIOR YEAR EXCLUDING FX EXPANDED GROSS MARGIN BY DUE TO BENEFITS FROM FREIGHT, FX & OPERATIONAL OUTPERFORMANCE =~ tapestry ACHIEVED SALES GAIN OF INTERNATIO
Slide 14: Revenue Trends by Geography: FY24 Q3
Revenue Trends by Geography: FY24 Q3 Growth rates shown on a constant currency basis. =~ tapestry
Slide 15: Our third quarter earnings results outperformed expectations
“Our third quarter earnings results outperformed expectations, reflecting our unwavering commitment to disciplined brand building and operational excellence. Our talented global teams continued to advance our long-term initiatives, fueling innovation and consumer connections, while successfully harn
Slide 16: P&L Overview by Brand: FY24 Q3
P&L Overview by Brand: FY24 Q3 NET REVENUE”) GROSS PROFIT SG&A EXPENSES OPERATING INCOME EARNINGS PER DILUTED SHARE $1.48B 0% vs. LY $1.11B 74.7% margin $868M 58.6% of sales $239M 16.1% margin $0.81 +4% vs. LY (1) Net Revenue growth rates expressed on a constant currency basis. Financials provided o
Slide 17: Coach Highlights: FY24 Q3
Coach Highlights: FY24 Q3 Achieved another strong quarter through the power of the brand's unique Expressive Luxury positioning, highlighted by 2% revenue growth at constant currency, while delivering 170 basis points of operating margin expansion Fueled momentum in the leathergoods offering led by
Slide 18: Kate Spade Highlights: FY24 Q3
Kate Spade Highlights: FY24 Q3 Advanced strategic agenda while remaining agile operators, highlighted by profit and margin growth versus prior year despite top-line softness Remained focused on strengthening the brand’s core handbag foundation; new product introductions drove higher customer recruit
Slide 19: Stuart Weitzman Highlights: FY24 Q3
Stuart Weitzman Highlights: FY24 Q3 Remained focused on supporting brand health by investing in product and marketing to drive growth and profitability long-term Delivered newness and innovation to consumers through an assortment of on-trend casual styles, driving strong sales gains at POS in North
Slide 20: Maintained Fiscal Year Earnings per Share Outlook
Maintained Fiscal Year Earnings per Share Outlook “FY26 EXPECTATIONS REVENUE Over $6.6 billion REVENUE GROWTH Approximately in-line with prior year on a reported basis and approximately 1% growth on a constant currency basis GROSS MARGIN Approximately 230 basis points above last year, including a be
Slide 21: Capital allocation priorities focused on driving growth
Capital allocation priorities focused on driving growth, profitability, and shareholder value = Continue to invest in brand-building activities = Prioritize deleveraging and anticipate = Continue to pay dividends; Board of Directors and platform enhancements to fuel long- reaching a leverage ratio o
Slide 22: Proposed Acquisition of Capri Holdings Limited
Proposed Acquisition of Capri Holdings Limited I ACQUISITION BUILDS ON TAPESTRY’S CORE TENETS AS CONSUMER-CENTRIC BRAND BUILDERS & DISCIPLINED OPERATORS The combination is expected to: = Expand the portfolio’s reach and diversification across consumer segments, geographies, and product categories wi
Slide 23: Tapestry
tapestry
Slide 24: Tapestry
tapestry
Slide 25: Being genuine and real has always been part of our ethos
BEING GENUINE AND REAL HAS ALWAYS BEEN PART OF OUR ETHOS AND PART OF THE IMPACT WE MAKE. TODAY, OUR CUSTOMERS SEEK MEANINGFUL CONNECTION AND SOMETHING REAL. THIS CAN ONLY HAPPEN WHEN THEY FEEL LIKE THEY CAN BE THEIR TRUE SELVES. OVER TIME, WE'VE LEARNED THAT COURAGE IS CONTAGIOUS, AND THAT WHEN YOU
Slide 26: Coach: Net sales, stores, countries, employees
$4.9B+ 939 NET SALES DIRECTLY OPERATED STORES mm COACH aN -60 COUNTRIES ‘11,100 EMPLOYEES
Slide 27: Coach Revenue Breakdown
Coach Revenue Breakdown Other Asia 15% Category = Geography Channel As of FY23. COACH
Slide 28: Coach strategic priorities
N LEAD WITH BUILD FUEL GAINS DEEPEN GROW BCONNECTIONS |} LEATHER- ACROSS PURPOSE-LED MOMENTUM IN WITH @GooDs LIFESTYLE STORYTELLING #SUB-BRAND, CONSUMERS , COACHTOPIA = COACH 28
Slide 29: Tapestry
tapestry
Slide 30: Kate Spade New York since its launch in 1993
SINCE ITS LAUNCH IN 1993 WITH A COLLECTION OF SIX ESSENTIAL HANDBAGS, KATE SPADE NEW YORK HAS ALWAYS BEEN COLORFUL, BOLD AND OPTIMISTIC. TODAY IT IS A GLOBAL LIFESTYLE BRAND THAT DESIGNS EXTRAORDINARY THINGS FOR THE EVERYDAY, DELIVERING SEASONAL COLLECTIONS OF HANDBAGS, READY- TO-WEAR, JEWELRY, FOOT
Slide 31: Kate Spade: Net sales, countries, employees
$L4B+ 4,600 NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES
Slide 32: Kate Spade revenue breakdown
As of FY23. & Category Rest of World Other Asia 6% 10% am Geography 32 ue Ye
Slide 33: Kate Spade strategic priorities
STRENGTHEN CORE HANDBAG FOUNDATION FUEL LIFESTYLE OFFERING FOCUS ON THE INVEST IN OMNI-CHANNEL # MARKETING TO OPPORTUNITY DRIVE BH acauisition & RETENTION GROW IN CHINA 33
Slide 34: Stuart Weitzman
STUART WEITZMAN tapestry
Slide 35: Stuart Weitzman celebrates women who stand strong
STUART WEITZMAN CELEBRATES WOMEN WHO STAND STRONG
Slide 36: Stuart Weitzman: Net sales, countries, employees
40+ COUNTRIES NET SALES DIRECTLY OPERATED STORES EMPLOYEES As of FY23. az 36
Slide 37: Stuart Weitzman Revenue Breakdown
Stuart Weitzman Revenue Breakdown Remain focused on key geographies & channels with a compelling footwear assortment Category Footwear 100% As of FY23. w Rest of World Other as® 1% Greater China 25% Geography North America 64% Wholesale & Other 34% Channel 37
Slide 38: Stuart Weitzman growth priorities
Growt al aS INCREASE DRIVE GROWTH ADD DEPTH TO ACCELERATE LEVERAGE MARKETING IN CORE & UNDER- GROWTH IN TAPESTRY'S RELEVANCY & ICONIC PENETRATED CHINA PLATFORM TO DRIVE BRAND CATEGORIES CATEGORIES FUEL DIGITAL CONSIDERATION
Slide 39: ESG & Corporate Responsibility
ESG & Corporate - jh Responsibility tapestry
Slide 40: The Fabric of Change
The Fabric of Change AMBITION: MAKE EVERY BEAUTIFUL CHOICE A RESPONSIBLE CHOICE ‘ J Lil », ¥ WAL POWER SUSTAIN UPLIFT CREATE | OF OUR PEOPLE THE PLANET OUR COMMUNITIES PRODUCTS WITH CARE 4 tapestry “
Slide 41: Power of Our People
Power of Our People 2025 Goals Build diversity in Tapestry and brand leadership teams in North America by increasing the number of racial & ethnic minority leaders to better reflect the company's general corporate population. Reduce differences in our Employee Inclusion Index scores based on gender
Slide 42: Sustain the Planet
Sustain the Planet 2025 & Beyond Goals Reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions 64%, Scope 3 emissions 42%, and Scope 3 FLAG emissions 30% by FY2030 from a FY2021 baseline. Reach net-zero GHG emissions across the value chain by 2050. Procure 100% renewable energy in Tapestry-oper
Slide 43: Uplift Our Communities
Uplift Our Communities 2025 & Beyond Goals 500,000 volunteer service hours completed by our employees around the world by FY2030. $75 million in financial and product donations to nonprofit organizations globally by FY2025. 100,000 people working in the factories crafting our products will have acce
Slide 44: Create Products with Care
Create Products with Care 2025 & Beyond Goals 95% traceability and mapping of our raw materials by 2025. 90% of leather used in our products comes from Silver- and Gold-rated LWG tanneries by 2025. 95% of polyamide (nylon) will be from pre- or post-consumer recycled sources by 2025. 90% of cotton wi
Slide 45: Tapestry
tapestry
Slide 46: Non-GAAP and constant currency measures
Management utilizes non-GAAP and constant currency measures to conduct and evaluate its business during its regular review of operating results for the periods affected and to make decisions about Company resources and performance. The Company believes presenting these non-GAAP measures, which exclu
Slide 47: Condensed Consolidated Segment Data and Items Affecting Comparability
Condensed Consolidated Segment Data and Items Affecting Comparability For the quarter ended March 30, 2024. in millions, except per share data; unaudited GAAP BASIS (AS REPORTEI ACQUISITION COSTS. NON-GAAP BASIS (EXCLUDING ITEMS) Coach $891.3 + $891.3 Kate Spade 183.6 - 183.6 Stuart Weitzman 325 - 3
Slide 48: Condensed Consolidated Segment Data
Condensed Consolidated Segment Data For the quarter ended April 1, 2023. in millions, except per share data; unaudited GAAP BASIS (AS REPORTED] Coach $866.5 Kate Spade 191.41 Stuart Weitzman 40.7 Gross profit 1,098.3 Coach 524.3 Kate Spade 183.1 Stuart Weitzman 39.9 Corporate 124.7 Selling, general
Slide 49: Tapestry
tapestry COACH | kate spade | STUART WEITZMAN NEW YORK © 2024 Tapestry, Inc