Slide 1: FY 2025 Financial results
FY 2025 Financial results 16 April 2026 A conference call with analysts and investors will take place on the 17 April 2026 at 15:00, local time. The conference call can be accessed via the following link: https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=5668086&link
Slide 2: 2025 best-ever full year results, very positive start of 2026
2025 best-ever full year results, very positive start of 2026 Dividend at 0.14 Euro per share, up 27% Net sales EBITDA Net cash flow Dividend (€m) (€m) (€m) (€/share) +21.1% +15.4% +11.7% +7.0% +40% +133% +31% +27% 1,746 218.2 90.0 0.14 1,631 195.3 1,536 180.2 182.2 0.11 1,513 68.6 0.07 64.2 64.3 0.
Slide 3: Driving growth through 'House of Brands' Strategy
Driving growth through 'House of Brands' Strategy Capturing diverse market segments through curated identities and specialized lifestyles Fall 2025 Spring 2026 Fall 2025 3 FY 2025 Financial results, 16 April 2026
Slide 4: Driving growth through 'House of Brands' Strategy
Driving growth through 'House of Brands' Strategy Capturing diverse market segments through curated identities and specialized lifestyles Spring 2026 Winter 2025 Winter 2025 4 FY 2025 Financial results, 16 April 2026
Slide 5: Womenswear grew +19% vs. 2022, still substantial upside remaining
Womenswear grew +19% vs. 2022, still substantial upside remaining Thanks to the new design direction, OVS is successfully growing yet a 20pp gap remains vs. total market composition OVS sell-out sales composition, €bn Apparel market in Italy, €bn 20.2 1.79 1.82 +8% 1.69 1.71 11.2 0.61 0.64 Women 0.5
Slide 6: Diversified portfolio driving Womenswear expansion
Diversified portfolio driving Womenswear expansion Distinct brand identities of Spring 2026 collections 6 FY 2025 Financial results, 16 April 2026
Slide 7: Goldenpoint Strategic Relaunch
Goldenpoint Strategic Relaunch Positive impact from the new product offering and refreshed store concept • First seven months of consolidation closed with very positive results (sales growth of ca. 10%); • Contemporary product offering well-received by customers, alongside a more attractive, refresh
Slide 8: Shaka: Standalone Store and Shop-in-shop growth
Shaka: Standalone Store and Shop-in-shop growth Scaling the beauty concept that already generates €120M in sales • Over 450 shop-in-shops within OVS stores generating ca. €120M in sale; • 10 standalone Shaka stores launched in key cities with excellent performance; • Significant potential for furthe
Slide 9: Q4 2025 Key income statement items
Q4 2025 Key income statement items Fall winter collections were particularly well-received 4Q 2025 4Q 2025 4Q 2024 €m Change Change % Adjusted Change Change % Adjusted Excl. GP Adjusted • Net sales €501.2m, +10.1% vs. Q4 2024; Net sales growth excluding Goldenpoint stands at +2.9%, Net sales 501.2 4
Slide 10: FY 2025 Key income statement items
FY 2025 Key income statement items Strong execution on the organic perimeter boosted by Goldenpoint consolidation • Net sales +7.0%YoY, driven by both like-for-like sales growth — +2.9% FY 2025 €m FY 2025 Change Change % Adjusted Change Change % FY 2024 outperforming reference market that in the sam
Slide 11: FY 2025 Sales and EBITDA performance
FY 2025 Sales and EBITDA performance OVS continues its growth trajectory in both sales and EBITDA (14% on Net sales). Upim improves the excellent performance of 2024. Stefanel and Goldenpoint +10% like-for-like. Net Sales - €m EBITDA and EBITDA margin adjusted - €m DOS and E-commerce +11.7% Franchis
Slide 12: 31 January 2026 Trade working capital
31 January 2026 Trade working capital Overall trade working capital at 31 January 2026 stable vs. 31 January 2025 31 January 2026 €m 31 January 2026 Goldenpoint 31 January 2025 Change Excluding GP Trade Receivables 67.3 1.5 65.8 78.2 (12.3) Inventory 496.5 27.2 469.3 486.7 (17.4) Trade Payables (421
Slide 13: FY 2025 Capital expenditures
FY 2025 Capital expenditures Overall decreasing following the completion of special projects in 2024 (Puglia garment refurbishment plant and new POS system). Investment focus remains high on Network refurbishment and New openings FY 2024 54.7 New openings FY 2025 and refurbishments 57.6 17.0 IT and
Slide 14: FY 2025 Cash flow statement
FY 2025 Cash flow statement After cash flow consolidation in post-Covid years, 2024 and even more 2025 recorded an acceleration in cash generation. Over the four-year period, the company generated cash for nearly €300 million €m FY 2025 FY 2024 • Net cash flow +€21.4 million (+31.2%) YoY; EBITDA Adj
Slide 15: 31 January 2026 Net debt and Leverage
31 January 2026 Net debt and Leverage Adjusted Net financial position and the leverage ratio continue to improve €m 31 January 2026 31 January 2025 • Net Debt adjusted and Leverage on EBITDA decrease Net Debt reported 1,316.2 1,179.4 showing improvement after the financial impact of the Net Debt adj
Slide 16: Shareholders Remuneration via Dividends and Buybacks
Shareholders Remuneration via Dividends and Buybacks Based on the strength of the Balance sheet thanks to the increasing cash generation, the BoD has resolved to propose to the AGM a dividend of 14 cents per share (+27% vs. LY) and to continue with the buyback plan Net cash flow Dividend Buybacks(1)
Slide 17: Current trading and Outlook (1/2)
Current trading and Outlook (1/2) The Italian clothing market is showing good resilience following the start of the conflict in Middle East (+1.6% in March). However, it cannot be ruled out that the ongoing crisis may impact consumer attitudes in the medium term. On the sales and cost side: • OVS Bu
Slide 18: Current trading and Outlook (2/2)
Current trading and Outlook (2/2) • The new 2026 collections have been well-received, with sales showing high single-digit growth compared to 2025; • Sales growth will be supported by assortment and brands initiatives, network expansion, and the development of new banners, such as Shaka, and Goldenp
Slide 19: Q&A
Q&A 19 FY 2025 Financial results, 16 April 2026
Slide 20: Store network as at 31 January 2026
Store network as at 31 January 2026 Italy International Total 31 January 2026 DOS Franchising Total DOS Franchising Total DOS Franchising Total OVS 543 233 776 8 83 91 551 316 867 Upim 190 186 376 - 10 10 190 196 386 Stefanel 32 36 68 - 26 26 32 62 94 GAP 11 - 11 - - - 11 - 11 Full-format stores 776
Slide 21: Reconciliation between Adjusted and Reported Profit and Loss and Net financial position
Reconciliation between Adjusted and Reported Profit and Loss and Net financial position of which of which Reclass Reclass 31 Jan 2026 of which of which Stock Option, 31 Jan 2026 31 Jan 2025 of which of which Stock Option, 31 Jan 2025 €m income from income from Reported IFRS 16 Impact non recurring D
Slide 22: Reconciliation between Adjusted and Reported Profit and Loss and Net financial position
Reconciliation between Adjusted and Reported Profit and Loss and Net financial position In the 2025 financial year, the results are adjusted primarily to remove the impacts related to IFRS 16, specifically: (i) 224.3 million Euro on EBITDA, mainly to reflect lease payments; (ii) 58.8 million Euro on
Slide 23: Disclaimer
Disclaimer This presentation is being provided to you solely for information only and may not be reproduced or redistributed to any other person. This presentation may contain certain forward-looking statements that reflect the current views of the Company’s management with respect to future events