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20 March 2020 Company Announcements Office Australian Securities Exchange Premier Investments Limited – 2020 Half-year Results Presentation Please find attached for immediate release to the market the half-year results presentation for the 26 weeks ended 25 January 2020 for Premier Investments Limited. Yours faithfully, Marinda Meyer Company Secretary _______________________________________________________________________________________________________________ Premier Investments Limited ABN 64 006 727 966 Level 53, 101 Collins Street, Melbourne, Vic 3000 Tel: +61 3 9650 6500

Pre mie r Inve stme nts L imite d 2020 Ha lf Ye a r Re sults Ove r vie w 20 Ma rc h 2020 X 0

Agenda Smiggle - Accelerated global growth Premier Investments Limited 1 8 strategy far exceeded expectations 1H20 overview Premier Investments Limited 2 9 Peter Alexander - Delivers record result 1H20 consolidated financial results 3 10 Premier Retail - Delivers record result Premier Retail summary 4 11 11 Premier Retail 1H20 EBIT Balance Sheet, Cashflow & Dividends Premier Retail - Investment continues in 5 store network 6 13 Apparel Brands - Deliver strong 1H20 sales growth 7 Online - Delivers record sales X 1

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1 Premier Investments Limited 1H20 overview Group profit Net profit after tax (Pre AASB 16) of $99.6 million, up 12.2% on 1H19 1 – – Net profit before tax (Pre AASB 16) of $136.9 million, up 12.4% on 1H19 1 Record Premier Retail EBIT (Pre AASB 16) of $126.1 million, up 10.7% on 1H19 1 – – Record Premier Retail Sales of $732.1 million up 7.6% on 1H19 – LFL sales up 4.3% on 1H19 on a constant currency basis – Apparel Brands LFL sales up 7.5% on 1H19 on a constant currency basis – In Australia and New Zealand, LFL sales up 6.7% on a constant currency basis, with all 7 brands delivering LFL growth – Record Online sales up 28.4% on previous record 1H19 – Record Peter Alexander sales up 11.1% on previous record 1H19 – Record Smiggle global retail sales to consumers up 14.2% on previous record 1H19 Note: 1. The Statutory results for 1H20 reflect the adoption of the new Accounting Standard AASB 16 Leases. To allow for prior period comparison, 1H20 results disclosed in this presentation are pre adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of AASB16. Refer Appendix for reconciliations of Statutory and Pre AASB 16 results. 3

1 Premier Investments Limited 1H20 overview Exceptional cash flow and strong balance sheet – Net cash generated (operating cash flow less investing activities) for the half of $133.0 million, up $38.8 million or 41% on 1H19 1 – The strong cash flow allowed the group to: • Pay a record final FY19 dividend of $58.6 million to shareholders; • Decrease debt by $65.9 million to $101.6 million; and • Increase cash on hand by $9.5 million to $199.8 million – Balance sheet at end of 1H20 also shows: – Investment in associate (Breville Group Limited) of $245.6 million. The market value of this investment on 25 January 2020 was $707.4 million – Investment in Myer Holdings Limited of $40.7 million – Investment in strategically-owned properties at St Kilda Road Melbourne (Premier Retail’s global head office) and Premier Retail’s Australian Distribution Centre of $71.5 million, reflected at historical cost not their current market value – Franking credit pool of $210.4 million Increased record ordinary interim dividend of 34 cps fully franked Note: 1. The Statutory results for 1H20 reflect the adoption of the new Accounting Standard AASB 16 Leases. To allow for prior period comparison, 1H20 results disclosed in this presentation are pre adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of AASB16. Refer Appendix for reconciliations of Statutory and Pre AASB 16 results. 4

2 Premier Investments Limited summarised consolidated income statement $'M 1H20 1H19 Results Pre AASB 16 1 Premier Retail EBIT 126.1 113.9 Premier Investments income from Associate (BRG) 13.9 12.2 Premier Investments other revenue (Interest, Dividend, Rent & Other) 3.4 3.8 Premier Investments expenses (ex Premier Retail) (3.4) (4.1) Finance Costs (3.1) (4.0) Net profit before tax Pre AASB 16 1 136.9 121.8 Income tax expense Pre AASB 16 1 (37.3) (33.0) Net profit after tax Pre AASB 16 1 99.6 88.8 Note: 1. The Statutory results for 1H20 reflect the adoption of the new Accounting Standard AASB 16 Leases. To allow for prior period comparison, 1H20 results disclosed in this presentation are pre adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of AASB16. Refer Appendix for reconciliations of Statutory and Pre AASB 16 results 5

2 Premier Investments Limited summarised consolidated balance sheet Pre AASB16 1 Pre AASB16 1 Balance Sheet $'M 25 Jan 2020 27 Jul 2019 Assets Cash and cash equivalents 199.8 190.3 Inventories 2 197.9 171.2 Property, plant and equipment 198.5 210.9 Other Assets 33.9 43.7 Deferred tax assets 43.9 40.4 Listed equity investment at fair value 46.9 40.7 Notes: 1. The Statutory results for 1H20 reflect the Investment in associate 245.6 238.7 adoption of the new Accounting Standard Intangible assets 826.8 826.6 AASB 16 Leases. To allow for prior period comparison, 1H20 results Total assets 1,787.1 1,768.7 disclosed in this presentation are pre Liabilities adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of Interest bearing loans and borrowings 101.6 167.5 AASB16. Refer Appendix for Trade payables, provisions and other liabilities 237.6 188.1 reconciliations of Statutory and Pre AASB 16 results Deferred tax liabilities 62.0 63.9 Total liabilities 401.2 419.5 2. As a result of the earlier timing of Chinese New Year (25-Jan-2020) and Equity the strategy to bring forward delivery of key 2H20 purchases for shipment before Contributed equity 608.6 608.6 Chinese suppliers closed for this holiday Reserves (15.2) (10.9) period, 1H20 inventory reported at 25- Jan-2020 is 19% higher than the same Retained earnings 792.5 751.5 time last year. Total equity 1,385.9 1,349.2 6

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3 Premier Retail - Delivers record result • Record sales of $732.1 million up 7.6% on 1H19 • Like-for-like (LFL) sales up 4.3% on 1H19 on a constant currency basis • Record EBIT (Pre AASB 16) of $126.1 million, up 10.7% on 1H19 1 • Record EBIT % to sales (Pre AASB 16) of 17.2%, up 48 bps on 1H19 1 • Record profit before tax (Pre AASB 16) of $124.5 million, up 11.8% on 1H19 1 • Apparel Brands continuing to deliver strong sales growth momentum • 1H20 LFL sales growth of 7.5% was stronger than overall growth, with 21 unprofitable apparel stores closed during the last 12 months • 2 year LFL Sales Growth of 16.9% from 1H18 to 1H20 • In Australia and New Zealand, LFL sales up 6.7% on a constant currency basis, with all 7 brands delivering LFL growth • Record Online sales of $97.2 million, up 28.4% on a previous record 1H19 • Record Peter Alexander sales of $144.8 million, up 11.1% on a previous record 1H19 underpinned by strong LFL growth • Smiggle’s Accelerated Growth Strategy, announced in September 2018, continued to be successfully delivered with performance in 1H20 far exceeding expectations • Record Smiggle global retail sales to consumers up 14.2% on previous record 1H19 • Record reported Smiggle sales of $193.7 million, up 8.3% on previous record 1H19 Note: 1. The Statutory results for 1H20 reflect the adoption of the new Accounting Standard AASB 16 Leases. To allow for prior period comparison, 1H20 results disclosed in this presentation are pre adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of AASB16. Refer Appendix for reconciliations of Statutory and Pre AASB 16 results 8

3 Premier Retail performance Pre AASB16 2 Pre AASB16 2 26 weeks 26 weeks $'000 to 25 Jan 2020 to 26 Jan 2019 Var LY Sales 732,074 680,201 +7.6% LFL sales (constant currency) 4.3% 4.6% Gross Profit 457,834 428,662 +6.8% Gross margin (%) 62.5% 63.0% -48bps Employee Expenses 1 (163,231) (157,102) +3.9% % sales 22.3% 23.1% -80bps Rent 1 (116,400) (116,640) -0.2% % sales 15.9% 17.1% -125bps Advertising & Direct Marketing 1 (8,928) (9,206) -3.0% % sales 1.2% 1.4% -13bps Depreciation, Amortisation & Impairment 1 (21,074) (14,887) +41.6% % sales 2.9% 2.2% 69bps Other Cost of Doing Business 1 (22,634) (17,255) +31.2% % sales 2.5% 55bps 3.1% Other income 559 323 EBIT 126,126 113,895 +10.7% 17.2% 16.7% 48bps Borrowing Costs (1,625) (2,556) -36.4% PBT 124,501 111,339 +11.8% 17.0% 16.4% 64bps Note: 1. 1H20 total cost of doing business (Pre AASB 16) equates to 45.4% of sales (1H19 46.3%) 2. The Statutory results for 1H20 reflect the adoption of the new Accounting Standard AASB 16 Leases. To allow for prior period comparison, 1H20 results disclosed in this presentation are pre adoption of AASB 16 (“Pre AASB 16”) and therefore exclude the impact of AASB16. Refer Appendix for reconciliations of Statutory and Pre AASB 16 results 9