Slide 1: Coty 1Q FY26 Earnings Call
COTY 1Q FY26 EARNINGS CALL November 5, 2025
Slide 2: LFL Sales Trends Improving
LFL SALES TRENDS IMPROVING
Slide 3: Prestige: Sequential LFL Sales Improvement
PRESTIGE: SEQUENTIAL LFL SALES IMPROVEMENT 3Q25 4Q25 1Q26 2Q26E (3)% (7)% (6)% 3
Slide 4: Consumer Beauty: Sequential LFL Sales Improvement
CONSUMER BEAUTY: SEQUENTIAL LFL SALES IMPROVEMENT 3Q25 4Q25 1Q26 2Q26E (5)% (12)% (11)% 4
Slide 5: Beauty Market Normalizing, But Fragrance Outperforms
BEAUTY MARKET NORMALIZING, BUT FRAGRANCE CATEGORY CONTINUES TO OUTPERFORM PRESTIGE FRAGRANCE CATEGORY MASS COSMETICS CATEGORY ~LDD % ~LDD % ~HSD % ~HSD % ~MSD % ~MSD % ~MSD % VOLUMES ~LSD % +LSD% ~LSD % ~LSD % (~MSD) % (~LSD) % FY24 1Q25 2Q25 3Q25 4Q25 1Q26 FY24 1Q25 2Q25 3Q25 4Q25 1Q26 NielsenIQ GT
Slide 6: Q1 Sales Dynamics
Q1 SALES DYNAMICS PRESTIGE BEAUTY MASS BEAUTY MARKET MARKET +6% +2% (+5% IN FRAGRANCES) COTY PRESTIGE COTY PRESTIGE COTY CB COTY CB SELL-OUT REVENUES LFL SELL-OUT REVENUES LFL +1% -6% -6% -11% (+2% IN FRAGRANCES) Prestige Beauty Market source: Circana (L3M - September 2025) Mass Beauty Market source
Slide 7: Making Progress Addressing FY25 Challenges
MAKING PROGRESS ADDRESSING FY25 CHALLENGES
Slide 8: Key Actions: New Regional Structure & U.S. Leadership
KEY ACTIONS: NEW REGIONAL STRUCTURE & NEW U.S. LEADERSHIP ▪ 6 REGIONAL CLUSTERS IMPROVING AGILITY & ALIGNMENT WITH CHANNEL SHIFTS ▪ NEW U.S. LEADERSHIP ▪ ADJUSTED BONUS STRUCTURE TO BETTER INCENTIVIZE LOCALIZED PERFORMANCE GREEN SHOOTS: CLOSED THE GAP BETWEEN COTY’S U.S. PRESTIGE FRAGRANCE SELL-OUT
Slide 9: U.S. Prestige Fragrances
U.S. PRESTIGE FRAGRANCES: COTY CLOSED THE SELL-OUT GAP WITH THE MARKET, WITH POSITIVE SALES GROWTH EXPECTED IN Q2 7% 7% 7% 4% 2% -3% 3Q25 4Q25 1Q26 2Q26E U.S. Prestige Fragrance Market Coty U.S. Prestige Fragrance Sell-Out Coty U.S. Prestige Fragrance Net Revenue Retail Panel (NPD) – EUR5+NA+MX - Se
Slide 10: Key Actions: Step-Changing ROI and Efficiencies
KEY ACTIONS: STEP-CHANGING ROI AND EFFICIENCIES ▪ KICKED OFF NEXT PHASE OF ALL-IN-TO-WIN ▪ CREATED CHIEF PERFORMANCE AND OPERATIONAL EXCELLENCE OFFICER POSITION, WITH INTERNAL PROMOTION ▪ EVALUATING FULL MANUFACTURING AND SOURCING ECOSYSTEM TO DELIVER CONSISTENT COGS IMPROVEMENT GREEN SHOOTS: DELIVE
Slide 11: Key Actions: Competitive Advantage with U.S. Manufacturing
KEY ACTIONS: COMPETITIVE ADVANTAGE WITH U.S. MANUFACTURING ▪ COMPLETED TRANSFER OF KEY MASS FRAGRANCES SOLD IN U.S. TO OUR U.S. MANUFACTURING PLANT ▪ BY Q3 WILL TRANSFER ADDITIONAL ENTRY-PRESTIGE FRAGRANCES & ADJACENCIES TO U.S. PLANT ▪ ESTABLISHING DUAL SOURCING FOR MOST FRAGRANCES BY FY27 OUTCOME:
Slide 12: Key Actions: Fully Omnichannel Commercial Approach
KEY ACTIONS: FULLY OMNICHANNEL COMMERCIAL APPROACH ▪ INTEGRATING E-COM AND DIGITAL TEAMS INTO LOCAL MARKETS AND BRANDS GREEN SHOOTS: COTY’S E-COM SELL-OUT GROWTH CONTINUES WITH PRESTIGE +5% AND CONSUMER BEAUTY +6% IN 1Q26 E -com based on countries where e -com info is available covering approx. 86%
Slide 13: Key Actions: Accelerating AI Implementation
KEY ACTIONS: ACCELERATING AI IMPLEMENTATION ▪ CREATED CHIEF INFORMATION, DIGITAL INNOVATION AND BUSINESS SERVICES OFFICER, WITH INTERNAL PROMOTION GREEN SHOOTS: AI-DRIVEN CONTENT, AUTOMATION, PREDICTIVE ANALYTICS & VISUALIZATION, ENHANCED USER EXPERIENCE THROUGH CHATBOTS, AND EMBEDDED ASSISTANTS TRA
Slide 14: 1Q26 Financial Results In Line With Expectations
1Q26 FINANCIAL RESULTS IN LINE WITH EXPECTATIONS
Slide 15: Adj Gross Margin In Line with Expectations
ADJ GROSS MARGIN IN LINE WITH EXPECTATIONS Includes -100 headwinds from bps lower sales & ~40bps from 65.5% tariffs 64.5% 1Q25 1Q26 15
Slide 16: Maintaining Strong A&CP Support
MAINTAINING STRONG A&CP SUPPORT +110 bps ~25% ~26% 1Q25 1Q26 16
Slide 17: Adj EBITDA In Line with Guidance
ADJ EBITDA IN LINE WITH GUIDANCE -18% / -270 bps ~$360M ~$296M 1Q25 1Q26 17
Slide 18: Adj EPS Inline with Guidance
ADJ EPS INLINE WITH GUIDANCE EXCLUDING THE EQUITY SWAP -17% YoY $0.18 $0.15 1Q25 1Q26 Reflects diluted adjusted EPS excluding equity swap. 18
Slide 19: Continue to Target ~$200M in Savings in FY26
CONTINUE TO TARGET ~$200M IN SAVINGS IN FY26 >$330M Productivity savings Fixed cost savings ~$200M >$180M ~$170M >$140M >$115M >$90M FY21 FY22 FY23 FY24 FY25 FY26E FY27E SAVINGS 19
Slide 20: On Track to End CY25 with Leverage at ~3.5x
ON TRACK TO END CY25 WITH LEVERAGE AT ~3.5X ~3.7x ~3.5x $ 0.01 B $ 3.8 B $ 3.8 B $ 0.07 B FY25 1Q26 FX END NET FCF IMPACT OF 1Q DEBT & NET OTHER DEBT 20
Slide 21: ~$900M CY26 Debt Refinanced
~$900M CY26 DEBT REFINANCED, WITH Q2 FCF COVERING REMAINING PORTION ~$1,200M ~$900M REFINANCED AT 5.60% COST OF DEBT ~$300M CY26 DEBT MATURITIES 21
Slide 22: Framework for FY26
FRAMEWORK FOR FY26 1H FY26 2H FY26 INNOVATION DISTRIBUTION PRICING PROMOTIONAL ENVIRONMENT FY25 COMPS REVENUE LFL TARIFF NET IMPACT SAVINGS DELIVERY VARIABLE COMP ADJ EBITDA 22
Slide 23: 2Q26 Outlook
2Q26 OUTLOOK Continued sequential trend improvement in Prestige and Consumer REVENUE LFL Beauty, with LFL sales at the better end of prior guidance for a LFL decline of 3% to 5% REPORTED REVENUES LSD-MSD% benefit from FX in 2Q26 ADJ GROSS MARGIN Lower YoY on lower sales and tariff impact Continued s
Slide 24: 2H FY26 Outlook
2H FY26 OUTLOOK REVENUE LFL LFL growth vs. 2H25 Growth vs. 2H25 , supporting FY26 EBITDA of ~$1B, with an implied ADJ EBITDA +LSD% growth in 2H26 EBITDA vs. 2H24 ADJ EPS (EXCL. SWAP) Growth vs. 2H25 LEVERAGE Continued deleveraging over CY26 24
Slide 25: Powerhouse: Best-in-Class Fragrance & Scenting
BEST-IN-CLASS FRAGRANCE & SCENTING POWERHOUSE
Slide 26: We Have a Strong Portfolio with a Long Duration
WE HAVE A STRONG PORTFOLIO WITH A LONG DURATION 26
Slide 27: Continuing to Strengthen Portfolio, Reducing License Duration Risk
CONTINUING TO STRENGTHEN PORTFOLIO, REDUCING LICENSE DURATION RISK Owned % OF SALES License (~3 years) 85% OF THE PORTFOLIO OWNED OR UNDER LONG-TERM LICENSE License (7-8 years) (7 YEARS AND ABOVE OR EFFECTIVELY PERPETUAL) 80% License OF THE CORE BEAUTY PORTFOLIO (Effectively License (10-30 Perpetual
Slide 28: Maintaining Top Position in Global Fragrances
MAINTAINING TOP POSITION IN GLOBAL FRAGRANCES 28
Slide 29: Coty Remains Top 3 Global Fragrance Player
COTY REMAINS TOP 3 GLOBAL FRAGRANCE PLAYER 29
Slide 30: Coty #3 in ~$50B Prestige Fragrances Market
COTY #3 IN ~$50B PRESTIGE FRAGRANCES MARKET FEW GLOBAL PLAYERS COMPETE IN THE LICENSING MODEL – COTY A LEADER IN THE GROUP MARKET SHARE % 17.3% 12.7% 12.3% GUCCI 9.4% 7.8% 6.8% 2.9% Companies operating licensed fragrance businesses Source: Euromonitor + Generation; market share % as of 2024 data 30
Slide 31: Coty #1 in ~$7B Mass Fragrances Market
COTY #1 IN ~$7B MASS FRAGRANCES MARKET IN DEVELOPED MARKETS ~12% MARKET SHARE % ~7% ~4% ~4% ~3% ~3% Companies operating licensed fragrance businesses Source: Nielsen + Amazon; market share % as of August 2025 L12M. 31
Slide 32: Designer Brands Continue to Dominate Prestige Fragrance Market
DESIGNER BRANDS CONTINUE TO DOMINATE PRESTIGE FRAGRANCE MARKET ~90% OF TOP 20 PRESTIGE 16 OF TOP 20 FRAGRANCE FRAGRANCE BRANDS BRANDS FOR U.S. MALE GLOBALLY WERE DESIGNER TEENS ARE DESIGNER & BRANDS IN 2019 & 2024 ULTRA PREMIUM BRANDS 32
Slide 33: Coty Fueling Long-Term Growth in Core Designer Brands
COTY FUELING LONG-TERM GROWTH IN CORE DESIGNER BRANDS TOTAL GROWTH BY BRAND: FY19–FY25 AT CONSTANT CURRENCY +69% +141% +33% +47% 33
Slide 34: Exiting Designer Brand Have Also Seen Significant Growth
EXITING DESIGNER BRAND HAVE ALSO SEEN SIGNIFICANT GROWTH +61% TOTAL GUCCI BRAND GROWTH FY19-FY25 AT CONSTANT CURRENCY 34
Slide 35: Marc Jacobs Makeup Launching in CY26
MARC JACOBS MAKEUP LAUNCHING IN CY26 35
Slide 36: Brand-New Fragrance Launches Coming in CY26
BRAND-NEW FRAGRANCE LAUNCHES COMING IN CY26 REPROMOTION UNDER COTY: ETRO NECTAR 36
Slide 37: Launching in CY27
LAUNCHING IN LAUNCHING IN CY27 CY27 37
Slide 38: Boss Bottled Beyond Male Fragrance Launch in Key Markets
BOSS BOTTLED BEYOND #2 MALE FRAGRANCE LAUNCH IN KEY MARKETS 38
Slide 39: Major Prestige Fragrance Launch for Top Brand
MAJOR PRESTIGE FRAGRANCE LAUNCH FOR TOP BRAND IN 2H FY26 39
Slide 40: adidas Vibes
ADIDAS VIBES LARGEST CONSUMER BEAUTY LAUNCH IN 10 YEARS & CONTINUES TO EXPAND INTO A GLOBAL SCENTING PLATFORM 40
Slide 41: Internally Developed New Brands to Drive Incremental Sales
INTERNALLY DEVELOPED NEW BRANDS TO DRIVE INCREMENTAL SALES & DISTRIBUTION 41
Slide 42: Unlocking Other Scenting Opportunities
UNLOCKING OTHER SCENTING OPPORTUNITIES 42
Slide 43: High & Low Fastest Growing Sub-Segments in Fragrance
HIGH & LOW FASTEST GROWING SUB-SEGMENTS IN FRAGRANCE, AND COTY RAMPING TO CAPTURE ITS FAIR SHARE ULTRA-PREMIUM FRAGRANCE FRAGRANCES MISTS >10% OF PRESTIGE ~10% OF TOTAL FRAGRANCE FRAGRANCE MARKET MARKET ~2% OF COTY’S 1Q26 ~1-2% OF COTY’S PRESTIGE FRAGRANCE 1Q26 FRAGRANCE SALES SALES (N/M IN FY25) 43
Slide 44: Building Ultra-Premium Fragrance Business
BUILDING ULTRA-PREMIUM FRAGRANCE BUSINESS COTY’S ULTRA-PREMIUM COLLECTIONS 1Q26 SALES GROWTH +17% 44
Slide 45: Infiniment Coty Paris Limited Edition Launch
INFINIMENT COTY PARIS LIMITED EDITION LAUNCH HONORING COTY’S 1905 ICONIC FRAGRANCE 45
Slide 46: First Global Beauty Player Making Multi-Brand Push into Fragrance Mists
FIRST GLOBAL BEAUTY PLAYER MAKING MULTI-BRAND PUSH INTO FRAGRANCE MISTS FRAGRANCE MISTS ALREADY ADDING 1-2% TO FRAGRANCE SALES 46
Slide 47: Calvin Klein Mists - Incremental & Profitable Contribution
CALVIN KLEIN MISTS - INCREMENTAL & PROFITABLE CONTRIBUTION #4 MIST BRAND IN EUROPE & #1 TOTAL IN ITALY CK FRAGRANCE SELL-OUT +MSD % WITH GROWTH IN BOTH FRAGRANCE & MISTS Ranking source: Circana EU5 body spray market sell-out for month of August 47
Slide 48: Philosophy Mists - Incremental & Profitable Contribution
PHILOSOPHY MISTS - INCREMENTAL & PROFITABLE CONTRIBUTION TOTAL PHILOSOPHY FRAGRANCE SELL-OUT +DD % WITH GROWTH IN BOTH FRAGRANCE & MISTS Circana P3M through September 2025 48
Slide 49: Kylie Fragrance Mists - Incremental & Profitable Contribution
KYLIE FRAGRANCE MISTS - INCREMENTAL & PROFITABLE CONTRIBUTION TOTAL KYLIE FRAGRANCE LFL SALES +DD % DRIVEN BY FRAGRANCE & MISTS Circana P3M through September 2025 49
Slide 50: Other Scenting Adjacencies to Come Soon
OTHER SCENTING ADJACENCIES TO COME SOON 50
Slide 51: Steadily Building Prestige Cosmetics & Skincare
STEADILY BUILDING PRESTIGE COSMETICS & SKINCARE 51
Slide 52: Steadily Building Prestige Cosmetics
STEADILY BUILDING PRESTIGE COSMETICS KYLIE COSMETICS GLOBAL SELL-OUT GROWTH FUELED BY GROWING DD% ALL MAJOR MARKETS, IN Q1 AND CYTD INCLUDING U.S., WITH GROWTH IN EUROPE & BOTH MAKEUP & TRAVEL RETAIL FRAGRANCE Circana P3M through September 2025 52
Slide 53: Steadily Building Skincare
STEADILY BUILDING SKINCARE LONGEVITY EXPERT PHOTO AGING & NEURO BEAUTY REPAIR EXPERT 53
Slide 54: Coty Prestige Sell-Out in China Again Outperforming the Market
COTY PRESTIGE SELL-OUT IN CHINA AGAIN OUTPERFORMING THE MARKET COTY’S COTY’S Q1 FRAGRANCE SELL-OUT SELL-OUT IN CHINA ~1.5x MARKET, +15% & MAKEUP ~2x MARKET & 2x MARKET SKINCARE ~10x MARKET OFF SMALL BASE Source: Beauty Research L3M through September 2025 54
Slide 55: Consumer Beauty Performance Improvement Plan & Strategic Review
CONSUMER BEAUTY PERFORMANCE IMPROVEMENT PLAN & STRATEGIC REVIEW IN MOTION 55
Slide 56: Performance Improvement Plan & Strategic Review for Color Cosmetics
PERFORMANCE IMPROVEMENT PLAN & STRATEGIC REVIEW IN MOTION FOR COLOR COSMETICS CONSUMER BEAUTY COLOR COSMETICS ICONIC BRAND PORTFOLIO: COVERGIRL, RIMMEL, SALLY HANSEN, MAX FACTOR, BOURJOIS IN FY25, $1.2B IN SALES, HEALTHY GROSS MARGINS >60%, MODEST PROFITABILITY CATEGORY BACK TO MODERATE GROWTH ➢ KEY
Slide 57: Consumer Beauty Color Cosmetics: Progress to Date
CONSUMER BEAUTY COLOR COSMETICS: PROGRESS TO DATE KEY ACTIONS TO DATE ➢ GORDON VON BRETTEN APPOINTED END-TO-END PRESIDENT OF CONSUMER BEAUTY ➢ NEW CONSUMER BEAUTY LEADERSHIP TEAM NOW IN PLACE, FILLING OUT KEY ROLES AT NEXT LEVEL ➢ NEWLY APPOINTED CONSUMER BEAUTY EVP GLOBAL BRANDS & NEW PRODUCT DEVEL
Slide 58: Strategic Review in Motion for CB Brazil
STRATEGIC REVIEW IN MOTION FOR CB BRAZIL CONSUMER BEAUTY BRAZIL ICONIC BRAND PORTFOLIO: MONANGE, RISQUE, PAIXAO, BOZZANO CLOSE TO $400M IN SALES, STRONG OPERATING MARGINS SUSTAINED SHARE GAINS IN KEY CATEGORIES – SKINCARE, SHOWER GELS AND NAIL BEST-IN-CLASS PLATFORM IN BRAZIL, INCLUDING LOCAL GO- TO
Slide 59: Strong Market Share Momentum in Brazil
STRONG MARKET SHARE MOMENTUM IN BRAZIL COTY’S MARKET SHARE IN BRAZIL MASS CHANNELS FY23 FY25 NAIL 30.0% 34.4% SKINCARE 7.1% 8.5% MALE BEAUTY 40.5% 44.4% Source: Nielsen and Circana for Lifestyle. 59
Slide 60: Digital Momentum Fueling the Portfolio
DIGITAL MOMENTUM FUELING THE PORTFOLIO
Slide 61: Driving E-Commerce Expansion
DRIVING E-COMMERCE EXPANSION PRESTIGE CONSUMER BEAUTY 1Q26 SELL-OUT 1Q26 SELL-OUT +5% +6% E -com based on countries where e -com info is available covering approx. 86% of total Coty. Sources: Circana (Prestige) and Nielsen (CB) May 2025. Additionally, the data includes estimated data for Brick and C
Slide 62: Social Advocacy Momentum Across Key Brands
SOCIAL ADVOCACY MOMENTUM ACROSS KEY BRANDS 10x EMV growth YoY EMV +89% YoY Global EMV ranking is tracked within our competitive set. Lancaster’s EMV is specific to Europe, not global. 62 Source: Traacker.
Slide 63: Social Advocacy Momentum Across Key Brands
SOCIAL ADVOCACY MOMENTUM ACROSS KEY BRANDS EMV EMV +97% +37% YoY YoY 63 Global EMV ranking is tracked within our competitive set. Source: Traacker.
Slide 64: Marc Jacobs U.S. Sell-Out Since Launch
MARC JACOBS U.S. SELL-OUT +11% SINCE LAUNCH 64 Marc Jacobs total U.S. omnichannel sell-out performance from July 22nd through October 4th
Slide 65: Reaching Key Sustainability Milestones
REACHING KEY SUSTAINABILITY MILESTONES
Slide 66: Reaching New ESG Milestones
REACHING NEW ESG MILESTONES OUR FIRST CSRD-COMPLIANT SUSTAINABILITY REPORT WATER 100% WITHDRAWAL RSPO-CERTIFIED PALM OIL (INCL. TPMS) DOWN 16% & TRACKING AHEAD 99% OF 25% TARGET FSC-CERTIFIED BY 2030 FOLDING BOXES ONLINE NEW RETAILER PARTNERSHIPS & INGREDIENTS 1ST MULTI-BRAND RESOURCE SUSTAINABILITY
Slide 67: Conclusion
CONCLUSION
Slide 68: Refocusing the Portfolio, On Path Back to Growth
REFOCUSING THE PORTFOLIO, ON PATH BACK TO GROWTH ▪ ACTIVELY FOCUSING & OPTIMIZING PORTFOLIO: ➢ CLOSER INTEGRATION OF PRESTIGE & MASS FRAGRANCES ➢ UNLOCKING MATERIAL OPPORTUNITIES IN ULTRA PREMIUM FRAGRANCES, FRAGRANCE MISTS AND BROADER SCENTING ➢ TRANSFORMATION PLAN FOR CB COSMETICS ➢ STRATEGIC REVI
Slide 69: Medium-Term Focus: Outperform the Beauty Market & Expand Margins
MEDIUM-TERM FOCUS: OUTPERFORM THE BEAUTY MARKET & EXPAND MARGINS 69
Slide 70: Appendix
APPENDIX
Slide 71: Adjusted EPS Delivery
Q1 ADJUSTED EBITDA 296 DEPRECIATION (56) NET INTEREST (47) INCOME TAX 45 ADJUSTED OTHER (40) EPS DELIVERY ADJ PREFERRED DIVIDEND (3) DILUTED SHARE COUNT 876M DILUTED ADJUSTED EPS * 0.12 DILUTED ADJ EPS EXCL. EQUITY SWAP 0.15 * Diluted adjusted EPS calculated under the “if-converted” method for the C
Slide 72: Disclaimer
DISCLAIMER Forward-Looking Statements Certain statements in this presentation are forward-looking statements. These forward-looking statements reflect Coty's current views with respect to, among other things, strategic planning, targets and outlook for future reporting periods (including the extent,