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DISCLAIMER This presentation (the “Presentation”) was prepared by LPP SA (the “Company”) with a 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 prospects in a comprehensive or in-depth manner. Therefore, anyone who intends to make an investment decision with respect to the Company should rely on the information disclosed in the official reports of the Company, published in accordance with the laws applicable to the Company. This Presentation was prepared for information purposes only and does not constitute an offer to buy or to sell any financial instruments. The Presentation may contain 'forward‐looking statements'. However, such statements cannot be treated as assurances or projections of any expected future results of the Company. Any statements concerning expectations of future financial results cannot be understood as guarantees that any such results will actually be achieved in future. The expectations of the Management Board are based on their current knowledge and depend on many factors due to which the actual results achieved by the Company may differ materially from the results presented in this document. Many of those factors are beyond the awareness and control of the Company or the Company’s ability to foresee them. Neither the Company, nor its directors, officers, advisors, nor representatives of any such persons are liable on account of any reason resulting from any use of this Presentation. Additionally, no information contained in this Presentation constitutes any representation or warranty of the Company, its officers or directors, advisors or representatives of any of the above persons. The Presentation and the forward‐looking statements speak only as at the date of this Presentation. These may not be indicative of results or developments in future periods. The Company does not undertake any obligation to review, to confirm or to release publicly any revisions to any forward‐looking statements to reflect events that occur or circumstances that arise after the date of this Presentation. 2

AGENDA  Executive summary  2Q15 financial results  Key corporate events  2015 outlook  Q&A 3

Over PLN2 bn revenues in 1H15 1,594 +0.5% PLN2,294 m STORES LFLs REVENUES +16% 16 +8% SPACE m2 m2 COUNTRIES -15% 53% PLN160 m EBIT SG&A / SG / m2 GROSS PROFIT > > consensus MARGIN 4

Key 2Q15 achievements Next opening New stores in the Prestigious location On-line store in Germany Middle East in Poznan in Czech Republic RESERVED franchise stores Stores of 5 LPP’s brands Third country with RESERVED own store Qatar, Kuwait in a new shopping mall RESERVED in Wuppertal 2,365 m2 4,500 m2 on-line offer 2,050 m2 April 2015 May 2015 June 2015 June 2015 5

Already 1,594 stores on 3 continents N U M B E R o f L P P ’s S TO R E S NUMBER of of STORES 30.0 30.06.2 .2015 270 26 LPP GROUP 1,594 19 RESERVED 429 25 Cropp 382 996 House 330 7 64 MOHITO 268 78 50 SiNSAY 150 11 20 Outlets 35 10 15 1 KUWAIT 1 1 1 QATAR EGYP YPT 1 6

AGENDA  Executive summary  2Q15 financial results  Key corporate events  2015 outlook  Q&A 7

LFL dynamics return to positive levels L FL s i n CONSTANT CURRENCI ES L FL s i n CON STAN T C URREN C I ES ( d a t a f o r t h e g r o u p ) ( d a t a f o r t h e g r o u p ) 20% 15.3% 14.3% 13.7% 15% 11.7% positive LFLs in May and 10% 6.7% 5.1%4.6% 4.8% June 5% 1.1% 1.5% 0% -0.7% 0.5% -1.7% -5% -2.3% -3.5% -6.9% -10% 1H14 1H15  All brands showed positive LFLs in 2Q15.  All countries showed positive LFLs with exception of Poland and Estonia.  Negative LFLs in Poland resulted from falling traffic.  Despite political issues, LFLs in Russia and Ukraine were double-digit positive. 8

Growth in floorspace by regions FLOORS PAC E GROWTH 2Q15 FLOORSPAC E by reg i on s by reg i on s ths m2 800 ths hs m2 m2 2Q14 2Q 14 2Q15 2Q 15 YoY 778 0 2 8 780 20 LPP GROUP 672.2 778.4 15.8% 760 748 Poland 401.1 443.5 10.6% 740 EU 100.9 147.7 46.4% +30 ths m2 CIS 170.2 183.2 7.6% 720 ME 0.0 3.9 N/M 700  Poland dominated the new openings in terms of countries. Openings in Poland encompassed also seasonal stores of Cropp and House (c. 6 ths m2).  Dynamic growth in the EU region in 2Q15 resulted from: 1) acceleration of development in Romania (8 stores, +5.8 ths m2) and 2) development in Germany (1 store, 2 ths m2).  Two new stores in the Middle East (Kuwait and Qatar). No openings in Russia and Ukraine. 9

New openings across all brands FLO O RS PAC E G ROWT H 2Q15 FLOORSPAC E by bra nds by b ra n d s ths m2 ths hs m2 m2 2Q14 2Q 14 2Q 2Q15 15 YoY 800 0.5 778 4 2.5 6 LPP GROUP 672.2 778.4 15.8% 780 5 12 RESERVED 358.9 416.3 16.0% 760 748 Cropp 102.2 111.5 9.1% 740 House 89.9 96.7 7.5% 720 +30 ths m2 MOHITO 76.7 89.1 16.2% 700 SiNSAY 35.1 52.4 49.2% Outlets 9.3 12.4 33.5%  Dynamic RESERVED development due to openings in the Middle East, Romania and Germany.  The majority of MOHITO and SiNSAY 2Q15 openings took place in Poland.  QoQ acceleration of Cropp and House openings in 2Q15 due to setting up of seasonal stores. 10

Growth in group revenues GROUP REVEN U ES GROUP REVEN U ES by reg i on s by b ra n d s i n 2Q15 PLN m PLN m 10.9% 31.7% 1,600 40% 35.6% 19.6% 30.4% 9.0% RESERVED 627 31.4% 31.3% 11.4% 21.9% 25.9% 6.1% 1,200 30% Cropp 196 31.0% 14.1% 800 20% House 160 400 10% MOHITO 146 SiNSAY 83 0 0% Other 80 Poland EU CIS Sales growth 0 200 400 600 800  Group revenues grew 9% due to higher floorspace and positive LFLs.  Among countries, Poland was the largest revenue contributor, while EU added the most among regions.  Flat YoY revenues in Russia and Ukraine (growth in local currencies but depreciation of those currencies to PLN).  RESERVED and SiNSAY were the largest revenue growth contributors by brands. 11

Growth in floorspace lowers sales/m2 SAL ES / m2 RETAI L SAL ES / m2 PLN / m2 avera ge p er mo nt h PLN (month) 2Q 2Q14 14 2Q 2Q15 15 YoY 1,000 30% 632 695 721 784 697 724 755 800 20% 536 610 608 663 LPP GROUP 582 542 -6.9% 570 567 600 10% 462 Poland 630 596 -5.4% 400 0% EU 469 460 -2.0% 200 -10% CIS 553 494 -10.6% 0 -20% Sales/m2 (PLN) YoY % growth  Sales/m2 in Poland remain higher than abroad due to superior brand recognition.  Falls in sales /m2 in PLN in Russia and Ukraine resulted from local currencies’ depreciation versus zloty.  In 2Q15, in local currencies, sales/m2 grew 11% YoY in Russia while 38% YoY in Ukraine.  Growth in sales/m2 took place in Czech Republic, Slovakia, Hungary and Lithuania in 2Q15. 12

E-commerce development continues ON - L I N E SAL ES ON - L I N E SAL ES PLN m PLN m 23.4 40 +24% 25 2.0% 12.4 16.1 20 17.4 18.0 1.5% 12.8 30 11.5 15 1.0% 6.9 6.6 10 20 35.4 1.7 0.5% 5 28.5 10 0 0.0% 8.6 0 1H13 1H14 1H15 E-commerce revenues % of group sales  On-line sales constituted 1.4% of group revenues in 2Q15.  Each of the 5 brands has its own internet store in Poland.  RESERVED on-line store operates also in Germany and in Czech Republic.  Next e-openings: Slovakia (3Q15) and Hungary (4Q15). 13

Stronger US$ increases COGS GROSS PROFI T M ARGI N vs P L N/USD 1H15 PURCHASES by reg i on s PLN/USD 0.35 65% Other Poland 57.9% 59.2% 61.3% 52.1% 2% 5% Turkey 0.33 60% 5% 0.31 55% 0.29 50% China Far East 52% 36% PLN/USD rate (T-2 quarters) Gross profit margin (%)  2Q15 fall in gross profit margin resulted in 30% from zloty depreciation to US$ (the majority of purchases is conducted in the Far East) and in 70% from higher YoY sell-offs.  High base effect: record high gross profit margin in 2Q14 (61.3%), higher than in 4Q14 (59.0%).  Lower-than-planned LFLs caused stronger YoY mid-season discounts, both in CIS and in Poland. 14

Lower costs of own stores COSTS of OWN STORES / m 2 1H 15 COSTS SP L I T PLN/m2 PLN188/m2 -16% YoY monthly -15% YoY 234 243 238 239 238 235 224 233 250 220 222 220 202 189 187 69 59 63 62 200 61 61 66 56 Other costs 54 57 57 52 46 25% 47 150 61 59 58 56 57 59 53 58 56 57 56 53 50 48 100 Rental costs 49% 116 116 118 117 118 115 115 111 110 108 107 50 97 93 93 0 HR costs 26% Rental costs HR costs Other costs  Fall in rental charges  successful rental renegotiations domestically, in Russia and Ukraine.  Fall in personnel costs  continuous headcount optimisation.  Fall in other costs of stores  depreciation of ruble and hryvnia against US$ and zloty.  Depreciation constitutes half of other costs of own stores; the remaining part is made up of energy costs, banking provisions and security. 15