Slide 1: 4Q25 results presentation
4Q25 results presentation WARSAW, 26 MARCH 2026 4Q25 PRESENTATION 1
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) was prepared by LPP SA (the “Company”) with due care. Still, it may contain certain inconsistencies or omissions. The Presentation does not contain a complete or thorough financial analysis of the Company and does not present its standing or prospect
Slide 3: Summary 2025
Summary 2025 4Q25 PRESENTATION 3
Slide 4: Dynamic business growth and scaling
Dynamic business growth and scaling 1,029 6 PLN 6.4 bn PLN 3.2 bn stores opened new countries online sales in investment including 913 Kosovo, Albania, +19% YoY in CC including over in Sinsay brand Uzbekistan, Azerbaijan, 28% share PLN 1.3 bn on logistics 3,748 stores at the Moldova and Geor
Slide 5: Financial strength
Financial strength 1.1x PLN 13.5 bn PLN 900 net debt/EBITDA in financing dividend per share in 2026 very secure secured for over 36% YoY growth indebtedness level 3–5 years 4Q25 PRESENTATION 5
Slide 6: Record profits in 2025
Record profits in 2025 PLN 23.1 bn PLN 5.4 bn PLN 3.3 bn PLN 2.4 bn revenue EBITDA EBIT net profit +19% YoY1 +31% YoY +37% YoY +36% YoY margin 23.3% margin 14.3% margin 10.3% +2.2 pp. YoY +1.9 pp. YoY +1.2 pp. YoY 1Growth reported on core business in constant currency: +21%. Growth reported includin
Slide 7: Expansion of Sinsay store chain
Expansion of Sinsay store chain NEW SINSAY STORES (by region) 950 913 913 Sinsay stores were opened in 2025 16% 18% 2,388 stores at the end of 2025 10% 13% Brand debut in 6 new countries: 564 37% Kosovo, Albania, Moldova, Uzbekistan, 24% 33% Azerbaijan, Georgia 15% 278 2% 4% Expansion and bu
Slide 8: Sinsay: a proven model with high profitability
Sinsay: a proven model with high profitability STORE PROFITABILITY1 SHARE OF PROFITABLE STORES1 (EBITDA %, data for 2025) (data for 2025) Sinsay 40% avg. EBITDA: 30% 20% heritage brands śr. EBITDA: 30% 98% 98% 0% 96% -20% -40% 98% of stores with positive EBITDA contribution 2023 2024 2025 1 data for
Slide 9: Sinsay app supports traditional stores and builds customer loyalty
Sinsay app supports traditional stores and builds customer loyalty 32 m total downloads1 SINSAY APP SHARE IN MOST DOWNLOADED +45% YoY SALES1 APP IN POLAND IN 20252 2025 83% 2,037,091 2024 77% 1,892,159 11 m 1,325,084 active users1 2023 56% 1,187,120 2022 22% #1 502,079 2021 0% 22,528 1 Source: own d
Slide 10: AI solutions to support the customer experience
AI solutions to support the customer experience VIRTUAL TRY-ON ORYGINAŁ AI PHOTO SHOOTS VIRTUAL ASSISTANT 4Q25 PRESENTATION 10
Slide 11: Technological leverage in our operations
Technological leverage in our operations CONTACT A TOOL TO CENTER LOGISTICS SUPPORT THE 35 EXPANSION OF THE STORE CHAIN languages 3,500+ 200+ robots calls simultaneously Recommendation engine, forecast and allocation of goods 4Q25 PRESENTATION 11
Slide 12: 4Q25 financial results
4Q25 financial results 4Q25 PRESENTATION 12
Slide 13: LFL store sales
LFL store sales COMPARABLE SALES (LFL) 7.5% 7.5% 5.7% 4.7% 4.3% 4.3% 3.2% 2.3% 1.4% 1.6% -0.5% LFL 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 2024 2025 2-year (average) Sinsay 16.1% 20.3% 8.7% 11.2% 1.5% 0.9% -0.6% -1.7% -1.6% 9.4% -0.9% 4.1% heritage 1.9% -0.7% -0.5% 4.6% 1.4% 7.9% 3.7% 10.8% 0.5
Slide 14: Double-digit sales growth in both channels
Double-digit sales growth in both channels GROUP REVENUES1 PLN m +19% 23,109 Impact of FX rates in 4Q25: ca. -2.0 pp. 19,407 Double-digit sales growth in 4Q25 both in Poland (+14.5% YoY) and abroad +16% (+17.8% YoY). 6,460 +19.6% 16,608 5,550 13,885 Online sales in 4Q25 accounted for 28.7% of
Slide 15: Improvement in gross profit margin on sales
Improvement in gross profit margin on sales QUARTERLY GROUP GROSS PROFIT MARGIN +2.3 pp. Higher YoY gross profit margin despite 56.6% 57.6% the growing share of Sinsay brand 55.6% in sales. 55.1% 56.2% Collections ordered at a favourable 54.0% 54.4% US$/PLN FX rate, visible positive effect 53.9%
Slide 16: Efficient management of SG&A costs
Efficient management of SG&A costs SG&A COSTS/M2 Growth in SG&A costs slower than sales 500 -1.4 pp. 46 growth. 44% 450 44 42% SG&A costs increase by 12.6% YoY, mainly 400 40% 41% 42 due to intensive expansion (costs of new 350 39% 40 stores), higher logistics costs resulting from 300 38 increas
Slide 17: Dynamic profit growth in 4Q25
Dynamic profit growth in 4Q25 EBITDA EBIT NET PROFIT PLN m PLN m PLN m +34% +44% +59% 1,518 1,134 952 714 662 450 4Q24 4Q25 4Q24 4Q25 4Q24 4Q25 20.4% 23.5% 11.9% 14.7% 8.1% 11.1% EBITDA margin1 EBIT margin1 Net profit margin1 1 For comparability, 4Q24 figures have been cleared for the impact of tran
Slide 18: Record profits in 2025
Record profits in 2025 EBITDA EBIT NET PROFIT PLN m PLN m PLN m +31% +37% +36% 5,391 4,104 3,316 2,369 2,415 1,747 2024 2025 2024 2025 2024 2025 21.1% 23.3% 12.4% 14.3% 9.0% 10.3% EBITDA margin1 EBIT margin1 Net profit margin1 1 For comparability, 2024 figures have been cleared for the impact of tra
Slide 19: Systematic improvement of inventory level
Systematic improvement of inventory level INVENTORY AND INVENTORY/M2 -21% At the end of 2025, inventory amounted to 7,000 PLN 4.6bn, a YoY decrease of PLN 82m 1,964 1,816 1,827 1,918 1,903 2,000 (-1.8% YoY). 6,000 1,693 1,534 1,542 5,000 1,507 In 4Q25, inventory/m2 decreased by 21.4% 1,500 YoY,
Slide 20: Favourable working capital
Favourable working capital WORKING CAPITAL PLN m -999 -689 Cash conversion cycle at a favourable negative level of -29 days: 4,669 4,587 slower inventory turnover (increase from 147 to 149 days), 147 161 stable accounts receivable payments cycle (ca 3 days), -5,815 -5,437 reduction of paymen
Slide 21: Record investment: PLN 3.2 billion in 2025
Record investment: PLN 3.2 billion in 2025 CAPEX PLN m +61% PLN 3.2bn investment in 2025 985 1 000 938 52 (2024: PLN 1.8bn). 900 56 800 Expenditure on stores in 4Q25 amounted 371 700 612 613 635 452 to PLN 562m (+37% YoY) due to dynamic 600 67 44 63 opening of new traditional stores, mainly 500
Slide 22: Safe debt level
Safe debt level NET DEBT (PLN m, IFRS16) At the end of 4Q25, net debt according 8,000 1.3 1.3 1.4 1.3 to IFRS16 amounted to PLN 6.1bn, 7,000 1.1 1.1 1.2 including: PLN 5.5bn due to leases. 1.0 1.1 6,000 1.0 5,000 0.9 Net debt includes PLN 0.8bn in money 0.8 market funds at the end of 4Q25 (PLN 4
Slide 23: Plans for 2026
Plans for 2026 4Q25 PRESENTATION 23
Slide 24: Outlook for 1Q
Outlook for 1Q 13% YoY growth in the Group’s sales in constant currency between 1 February and 23 March (impact of FX rates ca. -1.0pp.): YoY, constant 1.02.2026- 1.03.2026- currencies 28.02.2026 23.03.2026 Sales +10% +18% online -3% +7% LFL -3% +4% Planned opening of around 120 new stores acros
Slide 25: 2026 targets
2026 targets 2026 2025 2026 update Sales from core business, PLN bn 23.1 ca 28–29 including: no change Offline 16.6 ca. +20–25% YoY Online 6.4 ca. +20% YoY Gross profit margin on sales 55.6% 54.0% – 54.5% 55.0% – 55.5% SG&A % of sales 40.7% 40% – 41% no change EBITDA margin 23.3% 22%–23% 23%–24% Net
Slide 26: 2025 Summary
2025 Summary Dynamic profit growth 01 A year of profit growth at every level: EBITDA, EBIT, net profit. Development focused on profitability 02 Steady network expansion while maintaining good quality financial results. Cost efficiency 03 Improvement in the SG&A/sales ratio by almost 2 pp. YoY. Build
Slide 27: Consistent value creation for shareholders
Consistent value creation for shareholders LPP – SHARE PRICE (PLN) 20,000 PLN 21,450 highest share price 7 January 2026 16,000 12,000 for 15 years regular dividend payments 8,000 4,000 +28% 3Y PLN 900 +24% 5Y dividend per share, CAGR TSR i.e. +36% YoY (share price + dividends) +15% 0 5Y 10Y 2016 201
Slide 28: Q&A
Q&A 4Q25 PRESENTATION 28
Slide 29: Back-up
Back-up 4Q25 PRESENTATION 29
Slide 30: Dynamic growth in key regions
Dynamic growth in key regions POLAND CEE SEE No. of Floorspace No. of Floorspace No. of Floorspace stores (ths. m2) stores (ths. m2) stores (ths. m2) 1,321 1,038 539 441 982 832 +125 +10% +125 +23% +308 +34% BALTICS WE EE & ME No. of Floorspace No. of Floorspace No. of Floorspace stores (ths. m2) st
Slide 31: Steady development of the Sinsay chain
Steady development of the Sinsay chain NO. OF NEW STORES NO. OF STORES BY BRANDS # (gross) # (net YoY, as at 31.01.2026) +71 244 365 (+14) 380 (+9) 294 296 379 232 3,748 (+6) (+901) 348 253 279 136 357 2,388 200 (-4) (+876) 112 15 24 43 32 17 4Q24 1Q25 2Q25 3Q25 4Q25 FLOORSPACE Sinsay Reserved, Crop
Slide 32: Lower costs of own stores
Lower costs of own stores COST OF OWN STORES/M2 240 220 200 -7.3% Lower YoY rental costs/m2 → higher 180 175 165 168 number of Sinsay stores opened with 164 162 160 lower rent. 55 50 140 52 51 51 120 Lower YoY personnel (HR) costs/m2 → 100 61 61 effective management of working hours 80 59 57 57
Slide 33: Sinsay: focus on quality
Sinsay: focus on quality PROFITABILITY BY STORE SIZE1,2 STORE PAYBACK PERIOD (data for 2025) (in months, data for 2025) 26 32.3% 32.7% 31.4% 31.3% 25.2% 30.6% 31.5% average 30.1% 29.0% ~17 months 17 15 23.2% 13 50% 44% 31% 25% 15% 12% 4% 3% 7% 10% format "mini" XS S M L PL EE SEE CEE % in floorspace
Slide 34: Impact of the write-off on 2025 results
Impact of the write-off on 2025 results 2025 2025 PLN m change reported business Revenue 23,109 23,109 - In connection with information received Gross profit margin on sales 55.6% 55.6% - from investors who purchased shares in SG&A costs 9,414 9,414 - Russian company in 2022 regarding the loss of
Slide 35: Financial results
Financial results PLN m, IFRS16 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 YoY Revenues 4,306 5,005 5,212 5,671 4,954 5,554 6,141 6,460 13.9% Revenues1 4,074 4,731 5,050 5,550 4,954 5,554 6,141 6,460 16.4% Gross profit margin 52.1% 52.5% 54.8% 52.7% 54.0% 54.0% 57.6% 56.2% 3.5 pp. 1 Gross profit margin
Slide 36: Glossary
Glossary Poland Retail sales in Poland and other sales of LPP SA. Region including: CEE (Czech Republic, Slovakia, Hungary), Baltic (Lithuania, Latvia, Estonia), SEE (Bulgaria, Romania, Croatia, Serbia, Slovenia, Bosnia and Herzegovina, Northern Macedonia, Greece, Albania, Kosovo, Moldova), WE (Germ
Slide 37: Contact
Contact LPP SA HQ ul. Łąkowa 39/44, 80-769 Gdańsk Tel. +48 58 76 96 900 Email: lpp@lpp.com CONTACT FOR INVESTORS Email: LPP.investor.relations@lpp.com CONTACT FOR MEDIA Email: media@lpp.com discoverlpp company/lpp-sa discoverlpp discoverlpp 4Q25 PRESENTATION 37