2015 Agenda 1. Company Overview 2. Financial Summary 3. - - PowerPoint PPT Presentation

2015

Agenda

1. Company Overview 2. Financial Summary 3. Company Comparison 4. Investment plan 2015 5. How we will continue growing

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Investment Highlights

Brand Builder and Specialty Retailer Regional Presence in Latin America Strong Management Team Solid Financial Structure Footwear, apparel and accessories

→ Brand builder: solid and wide brand portfolio of 32 brands. → Huge portfolio of 19 different concepts of retail stores in Latam. → 100% Focus on Retail Business (and not in real state and financial).

With operations in Chile, Peru, Uruguay and Colombia

→ 466 stores → 295 stores in Chile 44 in Colombia → 52 in Uruguay 75 in Peru

Experienced management team in the retail sector

→ Expertise and Know-how of the business.

Solid financial structure with excellent financial track record

→ Strong growth in sales (CAGR = 17%) and profitability (CAGR = 31%) over the past 8 years (2005 to 2013). → High level of Cash. MM US$ 64.2 as of September 2014.

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Forus: Brands & Retail

32 Brands 19 stores’ concepts

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Our Brands – 32 brands

Licensed Brands

International Licensors: Wolverine World Wide (USA) Columbia Sportswear (USA) Jones New York Group (USA) Brooks (USA) Jansport (USA) Azaleia (Brazil) Church’s (England) Burton (USA) Skullcandy (USA) Dakine (USA) Burleigh Point Ltd (Australia)

26 brands

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Our Brands – 32 brands

Own Brands 6 brands

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New stores

• f:

Forus buys Hush Puppies Peru

• peration

2011 New stores

• f:

Enter in Colombia. Forus buys the Uruguayan brand Forus is opened in the stock market. Enter in Peru. Forus buys the brands Azaleia and Norseg. New stores : New stores

• f:

Our History: 34 years of experience

1980 1982 Alfonso Swett S. start with Hush Puppies in Chile with 70% of participation. The remaining 30% was in the Wolverine World Wide hands 1995 1996 2001 2006 2007 Enter in Uruguay Alfonso Swett S. buys the remaining 30% from the WWW 1991 Forus buys the brand Calpany. Born of the company name Forus S.A. New stores: 1990 1992 2009 Construction

• f the

footwear’s factory in Chile 1988 2003 2010 New Distribution Center in Chile. 2012 2005 2013

New Chain New Brand &Chain New Brand

2008 Joint Venture with WWW in Colombia for the brands

apparel

e-commerce Forus buys New brand

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1993 2014 2015

In the last 5 years, since 2009 until 2013 Forus:

• Created / acquired 15 brands
• Created / acquired 6 new concepts of stores
• Opened 169 stores: 34 as an average per year
• Launched e-commerce
• Acquired 2 companies: 7veinte and Billabong

How fast can we be

2009 2010 2011 2014 2012 e-commerce 2013

apparel

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Corporate Structure

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Forus S.A.

Uruforus S.A. (Uruguay) Peruforus S.A. (Peru) Forus Colombia S.A. (Colombia) LBC S.A.S. (Colombia)

100% 99.98% 51.00% 49.00%

Management

Board Alfonso Swett S. (34) President

+ 6 Board Members

CEO

Gonzalo Darraidou (14)

Commercial and MKT Manager

Sebastián Swett (26)

Factory Manager

Carlos Espinoza (8)

Corporate Retail Real State Manager

Claudio Cabrera (10)

L&D Manager

Patricio Ramírez (8)

Corporate CFO

Marisol Céspedes (15)

Uruguay CEO

Juan Strauch (9)

Colombia CEO

Alejandro Cruz (6)

Peru CEO

Eduardo Balbin (4)

HR & Legal Manager

Manuel Somarriva (6)

Planning Manager

Carlos Díaz (8)

TopSafety CEO

Andrés Infante (5)

Retail Manager

Matías Topali (8)

Head of IR Macarena Swett (6) Investor Relations Jeanne Marie Benoit (1)

Executive Director

Alfonso Swett O. (21)

() number of years working in the company.

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Costanera 63,0% Companies related to Costanera 5,1% Investment Funds 22,5% Institutional Investors 4,9% Brokers 4,2% Others 0,2%

Ownership Structure

Free Float: 31,9%

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Free Float: 28,9%

Free Float 28,9% Controlling Group 71,1%

December 2014 December 2008

Costanera 64,6% Companies related to Costanera 6,6% Investment Funds 16,1% Institutional Investors 4,6% Brokers 7,5% Others 0,6%

Free Float 31,9% Controlling Group 68,1%

466.765 311.675 153.979 319.935 402.908 722.962 1.323.758 1.003.322 2007 2008 2009 2010 2011 2012 2013 2014

Average Daily Volume trade (US$)

Increasing our Average Daily Volume Trade by 2.1x

→ From US$ 466,765 in 2007 to US$ 1,003,322 in 2014.

Increasing our Average Volume Trade

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Where are we

Uruguay

N° Stores: 52 % of total Sales: 7.8% Sales: US $22.3 MM # Concept stores: 8

Colombia

N° Stores: 44 % of total Sales: 2.3% Sales: US $7.3 MM # Concept stores: 5

Peru

N° Stores: 75 % of total Sales: 8.3% Sales: US $23.8 MM # Concept stores: 9

Chile

N° Stores: 295 % of total Sales: 79.8% Sales: US $233.5 MM # Concept stores: 17

Population: 30 MM GDP per capita: US$6,660 Population: 46 MM GDP per capita: US$7,826 Population: 17 MM GDP per capita: US$15,732 Population: 3 MM GDP per capita: US$16,351

Figures as of September 2014, in US$ converted using the October 1, 2014 USD/CLP 599.22 exchange rate. MM = million. Chile’ Sales includes Top Safety business’ Sales.

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Sales by Subsidiaries

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International Subsidiaries’ weight increased by 270 bp, reaching a 18.7% of the total Revenues in 9M 2014.

18.7% 16.0%

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Footwear is still the most important

Sales per Category Forus Chile

Footwear 73% Apparel 20% Accesories 7%

2013 2005

# of Concepts’ Stores

Our Retail Stores per Country

17 8 5 9

Store’s Concepts

Country

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• Best Distributor for

the brands

• Outstanding

Performance

• Outstanding sales

Our International Recognition

Last 4 years awards received, for the whole world, full year

2010 2013

• Excellence in Brand

Building

• Highest Revenue’s

Growth in Apparel and Accessories

• Highest Growth in

Latin America

• Best Distributor of

the world 2011

• Best Distributor in the

world

• Best Executive
• Highest Revenue’s

Growth for the brand in the countries Apparel

• Best Distributor for

the brands

• Highest Revenue’s

Growth in the countries

• Best Executive
• Highest Brand Value
• Best WWW Initiative

Accessories

JV

Apparel

4 5 10

2012

5

Apparel

17

Casual / Urban Sport

Rockford Caterpillar Hush Puppies

Fashion / Dress Outdoor

Sebago Columbia Patagonia Hush Puppies Kids Church’s Nine West Calpany Jansport Brooks Mountain Hardwear Azaleia Montrail Pasqualini

Brand Positioning by Concept

Sorel Cushe Merrell Just Smile We Love Shoes Burton Dakine Skullcandy Billabong Sperry Keds

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Agenda

1. Company Overview 2. Financial Summary 3. Company Comparison 4. Investment plan 2014 5. How we will continue growing

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Consolidated Income Statement 9M 2014

Consolidated Balance Sheets 9M 2014

21 Sep 2014 Dec 2013 Th Ch$ Th Ch$ ASSETS Current Assets Cash and cash equivalents 18.889.895 8.383.418 Other financial assets, current 19.559.100 33.687.676 Other non-financial assets, current 3.640.834 2.358.196 Trade and other account receivables 26.426.167 21.880.727 Accounts receivables from related companies 6.462 6.626 Inventories 60.763.759 48.473.974 Tax Assets, current 1.425.093 1.471.459 Total Current Assets 130.711.310 116.262.076 Non-Current Assets Other financial assets, Non-current 65.063 331.283 Other non-financial assets, Non-current 2.200.248 2.298.391 Fees receivables, Non-current 174.085 166.060 Investments in Associated 3.462.331 3.110.712 Net intangibles assets 4.294.132 3.417.123 Goodwill 8.810.772 8.810.772 Property, plant and equipments 30.678.445 29.084.804 Deferred tax Assets 1.392.446 1.577.054 Total Non-Current Assets 51.077.522 48.796.199 TOTAL ASSETS 181.788.832 165.058.275 FORUS S.A. & SUBSIDIARIES CONSOLIDATED BALANCE SHEETS expressed in Thousands of Chilean Pesos, as for

Consolidated Balance Sheets 9M 2014

22 Sep 2014 Dec 2013 Th Ch$ Th Ch$ LIABILITIES Current Liabilities Other financial liabilities, current 1.349.975 2.199.410 Current trade and other current accounts payable 12.072.062 12.784.120 Current accounts payable to related companies 475.375 304.828 Other current Provisions 1.223.761 7.501.216 Current tax liabilities 73.237 166.214 Current Provisions for employees benefits 2.825.578 3.053.515 Other non-financial liabilities, current 716.522 1.314.019 Total Current Liabilities 18.736.510 27.323.322 Non-Current Liabilities Other non-current financial liabilities 1.879.258 1.877.777 Deferred taxes liabilities

• Other non-financial non-current liabilities

32.619 108.842 Total Non-Current Liabilities 1.911.877 1.986.619 TOTAL LIABILITIES 20.648.387 29.309.941 SHAREHOLDER'S EQUITY Paid-in capital 24.242.787 24.242.787 Retained earnings 116.444.183 92.093.067 Issue Premium 17.386.164 17.386.164 Other reserves 1.637.459 422.035 Equity attributable to equity holders of the parent 159.710.593 134.144.053 Non-controlling interest 1.429.852 1.604.281 Total Net Equity 161.140.445 135.748.334 TOTAL NET EQUITY AND LIABILITIES 181.788.832 165.058.275

94 106 151 176 174 202 238 285 323 240 285 2005 2006 2007 2008 2009 2010 2011 2012 2013 9M'13 9M'14

Growing Sales

Forus Consolidated Revenues

Historical Data in MM US$ (October 1, 2014 USD/CLP at $599.22) 18,9%

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14 19 29 32 28 42 63 71 80 61 63 2005 2006 2007 2008 2009 2010 2011 2012 2013 9M'13 9M'14

EBITDA Margin

Forus Consolidated EBITDA

CAGR nominal (2005-2013) = 24,6%

EBITDA Margin

EBITDA 2,0%

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14,7% 17,6% 19,0% 18,3% 16,3% 20,7% 26,5% 24,9% 24,9% 25,5% 21,9%

Historical Data in MM US$ (October 1, 2014 USD/CLP at $599.22)

7 12 15 20 16 32 47 52 63 47 47 2005 2006 2007 2008 2009 2010 2011 2012 2013 9M'13 9M'14

7,6% 11,1% 10,2% 11,1% 9,4% 16,0% 20,0% 18,4% 19,6% 19,5% 16,5%

CAGR nominal (2005-2013) = 31,2%

Net Income

ROS Net Income

Forus Consolidated Net Income

Historical Data in MM US$ (Oct 1, 2014 USD/CLP) 0,9%

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50 100 150 200 250 300 350 400 450 2007 2008 2009 2010 2011 2012 2013 9M'14 Uruguay Colombia Peru Chile

Open Rate

Acceleration of average store opening in the last 5 years from 24 stores in 2008- 2012 to 41 stores as of 9M 14.

Number of Stores

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2012 2013 9M'14 Last 5 years average 24 34 41

Agenda

1. Company Overview 2. Financial Summary 3. Company Comparison 4. Investment plan 2014 5. How we will continue growing

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19,6% 4,4% 0,5% 10,1% 18,7% 8,3% 5,3% 3,5% 10,3% 9,3%

• 1,0%

5,8% 5,8% 5,4% 4,1% 1,4%

• 5,0%

0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 2007 2008 2009 2010 2011 2012 2013 9M 14

• Var. % SSS Forus

Var% IMACEC Chile

Source: Chilean Central Bank, Forus 28

Above the Chilean Economy SSS growth

Forus Chile SSS is above Chilean Imacec

• 5%

0% 5% 10% 15% 20% 25% 30% LULULEMON FORUS INDITEX (ZARA) GRENDENE (BRA.) RESTOQUE (BRA.) VF CORPORATION GAP AREZZO (BRA.) ROSS STORES J CREW THE TJX COMPANIES GRIMOLDI (ARG.) UNDER ARMOUR FALABELLA FOOT LOCKER HITES WWW AMERICAN EAGLE CROCS IN RETAIL (PERÚ) COLUMBIA SHIMAMURA RIPLEY CORP Walmart GENESCO ABCDIN CENCOSUD SKECHERS BROWN SHOE THE JONES GROUP FASA LA POLAR SMU

Ebitda Margin 2013

Forus is the 2nd highest Ebitda Margin in 2013 worldwide

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Agenda

1. Company Overview 2. Financial Summary 3. Company Comparison 4. Investment plan 2014 5. How we will continue growing

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Investment Plan 2014 and 2015

MM US$ 12 Consolidated Forus Capex 2014 E + 40 new stores 45 stores 25-30 stores / year New Stores Estimated 2014 Real 9M 2014 Estimated 2015

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22 9 7 7 CHILE PERÚ COLOMBIA URUGUAY

9'M14 Net Stores Openings

Agenda

1. Company Overview 2. Financial Summary 3. Company Comparison 4. Investment plan 2014 5. How we will continue growing

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• Forus has a high brand and store recognition.
• Our segment is the High- end customer: more inelastic.
• Without the financial risk of own credit cards.
• Type of products that we sell: Footwear and apparel.

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Forus: Economic Context

Forus is a more defensive Company when there is a economic activity decline, because:

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Real Retail sales in Santiago by category

Source: Study department National Chamber of Commerce

1,4 6,8 12,5 3,3 1,8

• 4,8

0,6

• 6,8
• 10
• 5

5 10 15 Total Apparel Footwear Electronics Appliance Furniture Grocery Perishable Foods

Jan-Sep 2014/2013 (% YoY)

Forus: Economic Context

FORUS 9% BATA 9% NIKE 7% ADIDAS 5% FALABELLA 4% WALMART 4% CENCOSUD 2% Otros 60%

US$ FOB 2012

FORUS 10% BATA 8% NIKE 6% ADIDAS 5% FALABELLA 5% WALMART 3% CENCOSUD 3% Otros 60%

US$ FOB 2013

Source: Market share according to imports, CCS

Footwear Market Share in Chile

Forus gained 100 bp in footwear market share in 1 year

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How we will continue growing

International Expansion

Inorganic Growth Organic Growth

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Date Concept Store Brands* # Initial stores 8 8 17 Sept 2013 Nov 2013

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# Stores 9M14 10 8 19 33 37 Youth Segment (15-25 years)

New Acquisitions

* In the case of 7veinte it appears the Main Brands, but it has more than these 3 brands announced.

New Acquisitions

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Inorganic growth

As we wanted, Footwear participation grew 433 bp, reaching a 7% of total sales in the new stores 7veinte as of September 2014.

Sales per Category 2012

Footwear Accessories Apparel

E-commerce Launched

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Jan-14 May-13 Sep-13 Nov-13 May-14