Slide 1: Tapestry
tapestry coacse | kate spade | STUART WEITZMAN NEW YORK © 2023 Tapestry, Inc.
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 O08 tapestry 5 4 O05
Slide 6: Iconic Brands
OT Iconic Brands COACH kate spade sifier weleman NEW YORK tapestry
Slide 7: Attractive Categories
02 Attractive Categories PERSONAL PREMIUM GOODS") +MSD HISTORICAL CAGR EXPECTED TO CONTINUE WE PLAY IN HANDBAGS, SLGS, FTW & APPAREL) Growing & High-margin HANDBAGS, SLGS & FTW!) Categories TAPESTRY FY23 (1) Global market; Source Euromonitor CY23. Global personal premium goods includes handbags/SLGs
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 need these categories fulfill coum Geography China 15% Global leader in core categories with permission to play in lifestyle
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 Crevoiserat CHIEF EXECUTIVE OFFICER Andrea Shaw Resnick CHIEF COMMUNICATIONS OFFICER Scott Roe CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER Peter Charles CHIEF SUPPLY CHAIN OFFICER | Todd Kahn CEO & BRAND PRESIDENT COACH t : David Howard GENERAL COUNSEL & SECRETARY Liz F
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: Q1 Overview
QI Overvieteo®™ FY24 Duis AM 2 tapestry
Slide 13: First Quarter Highlights
First Quarter Highlights Delivered record first quarter revenue and EPS DELIVERED REVENUE OF OVER REPRESENTING 2% GROWTH VS. PRIOR YEAR EXCLUDING FX ACHIEVED GLOBAL HANDBAG BENEFITING FROM FASHION INNOVATION & PRODUCT EXCELLENCE Earnings per share provided on a non-GAAP basis (full reconciliation av
Slide 14: Revenue Trends by Geography: FY24 Q1
Revenue Trends by Geography: FY24 QI Growth rates shown on a constant currency basis. =~ tapestry
Slide 15: CEO quote
“Throug h arelentless drive to fuel brand magic and deliver for our customers, we are confident in our ability to achieve organi driven, d c top and bottom-line gains, supported by our data- irect-to-consumer operating model that enables speed and agility. These advantages have powered Tapestry’s SU
Slide 16: P&L Overview by Brand: FY24 Q1
P&L Overview by Brand: FY24 QI NET REVENUE GROSS PROFIT SG&A EXPENSES OPERATING INCOME EARNINGS PER DILUTED SHARE Net Revenue growth rates expressed on a constant currency basis. Financials provided on a non-GAAP basis (full reconciliation available in appendix). =~ tapestry $1.51B +2% vs. LY $1.10B
Slide 17: Coach Highlights: FY24 Q1
Coach Highlights: FY24 QI Fueled continued momentum, highlighted by a 5% revenue increase at constant currency, while delivering 180 basis points of operating margin expansion, supported by gross margin gains Continued to build out the brand’s leathergoods offering, innovating across key families, i
Slide 18: Kate Spade Highlights: FY24 Q1
Kate Spade Highlights: FY24 QI Advanced strategic agenda, while remaining agile operators, highlighted by operating margin expansion of 160 basis points, driven by gross margin gains Remained focused on building a compelling and innovative handbag offering, including the launch of the Dakota family
Slide 19: Stuart Weitzman Highlights: FY24 Q1
Stuart Weitzman Highlights: FY24 QI Remain focused on executing against the brand's strategic priorities by building a stronger foundation with relevant assortments and new categories to deepen consumer engagement and improve profitability of the brand over the long-term Curated a relevant offering
Slide 20: Focused on delivering revenue and profit gains
Focused on delivering revenue and profit gains REVENUE Approximately $6.7 billion REVENUE GROWTH Slight growth on a reported basis or 2% to 3% on a constant currency basis excluding ~150bps of FX headwinds GROSS MARGIN Year-over-year expansion, including a benefit from moderating freight costs SG&A
Slide 21: Capital allocation priorities
Capital allocation priorities focused on driving organic growth, profitability, and shareholder value = Continue to invest in brand-building activities = Prioritize deleveraging and anticipates = Continue to pay dividends; Board of Directors and platform enhancements to fuel long- reaching a leverag
Slide 22: Acquisition of Capri Holdings Limited
Acquisition of Capri Holdings Limited ACQUISITION BUILDS ON TAPESTRY’S CORE TENETS AS THE COMPANY CONTINUES TO MAKE PROGRESS TOWARDS THE CONSUMER-CENTRIC BRAND BUILDERS & DISCIPLINED OPERATORS TRANSACTION CLOSE The combination will: = On October 25, 2023, the shareholders of Capri Holdings Limited =
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 key facts
$4.9B+ 939 -60 — 11,100 NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES As of FY23. mm COACH 26
Slide 27: Coach Revenue Breakdown
Coach Revenue Breakdown Category As of FY23. COACH Other Asia \ 15% — Geography China 18% Channel
Slide 28: Coach strategic priorities
DEEPEN CONNECTIONS GROW LEATHER- GOODS FUEL GAINS ACROSS LIFESTYLE LEAD WITH PURPOSE-LED STORYTELLING BUILD MOMENTUM IN SUB-BRAND, COACHTOPIA CONSUMERS = COACH 8
Slide 29: Tapestry
tapestry
Slide 30: Kate Spade New York brand overview
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 key facts
NET SALES DIRECTLY COUNTRIES EMPLOYEES OPERATED STORES
Slide 32: Kate Spade revenue breakdown
Rest of World Other Asia 6% — 10% ater = a Category Geography Other Lifestyle 23% As of FY23. —— & 32
Slide 33: Strategies
Strategies ‘ STRENGTHEN FUEL FOCUS ON THE INVEST IN - GROW IN CORE LIFESTYLE OMNI-CHANNEL |} MARKETING TO CHINA HANDBAG OFFERING OPPORTUNITY DRIVE FOUNDATION | ACQUISITION & RETENTION
Slide 34: Tapestry
tapestry
Slide 35: Stuart Weitzman celebrates women who stand strong
STUART WEITZMAN CELEBRATES WOMEN WHO STAND STRONG
Slide 36: Stuart Weitzman key facts
40+ COUNTRIES NET SALES DIRECTLY OPERATED STORES EMPLOYEES As of FY23. ae 36
Slide 37: Stuart Weitzman revenue breakdown
assortment _ Rest of World 10% Other Asia 1% Wholesale & Other Greater 34% China Category 25% Geography Channel North Direct to ‘America Consumer a 66% Footwear 100% As of FY23. w >
Slide 38: Stuart Weitzman strategic priorities
INCREASE MARKETING RELEVANCY & DRIVE BRAND CONSIDERATION DRIVE GROWTH IN CORE & ICONIC CATEGORIES ADD DEPTH TO UNDER- PENETRATED CATEGORIES _ ACCELERATE GROWTH IN CHINA — LEVERAGE TAPESTRY'S PLATFORM TO FUEL DIGITAL 38
Slide 39: ESG & Corporate Responsibility
_ ESG & Corpora Responsibility _ Esai —— tapestry
Slide 40: Fabric of Change
tapestry A VISION FOR A BETTER-MADE FUTURE Fabric of Change ja OUR PLANET OUR COMMUNITIES \ ia a, \\ A ww 40
Slide 41: Our People
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 and ethni
Slide 42: Our Planet
Our Planet 2025 & Beyond Goals Reduce absolute Scope 1, 2 and 3 GHG emissions by 42.5% below FY21 by FY30 Attain a 95% traceability and mapping of our raw materials to ensure a transparent and responsible supply chain. Ensure that 90% of leather is sourced from Silver and Gold-rated Leather Working
Slide 43: Our Communities
Our Communities Dedicate 500,000 volunteer service hours by our employees around the globe by 2030, following the achievement of reaching Tapestry's 100,000-hour volunteer goal two years ahead of schedule. Give $75 million in financial and product donations to nonprofit organizations globally. Provi
Slide 44: Tapestry
tapestry
Slide 45: 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 46: Condensed Consolidated Segment Data and Items Affecting Comparability
Condensed Consolidated Segment Data and Items Affecting Comparability For the quarter ended September 30, 2023. in millions, except per share data; unaudited GAAP BASIS (AS REPORTE! ACQUISITION COSTS NON-GAAP BASIS (EXCLUDING ITEMS) Coach $867.6 $- $867.6 Kate Spade 198.9 - 198.9 Stuart Weitzman 312
Slide 47: Condensed Consolidated Segment Data
Condensed Consolidated Segment Data For the quarter ended October 1, 2022. in millions, except per share data; unaudited GAAP BASIS (AS REPORTE! Coach $808.9 Kate Spade 2078 Stuart Weitzman 37.9 Gross profit 1,054.6 Coach 469.7 Kate Spade 184.6 Stuart Weitzman 43.0 Corporate 103.0 Selling, general a
Slide 48: Tapestry
tapestry COACH | kate spade | STUART WEITZMAN NEW YORK © 2023 Tapestry, Inc.