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1 A strong partnership for the future Q3 and 9M 2010 Results

2 Disclaimer This presentation may contain forward looking statements based on current expectations and projects of the Group in relation to future events. Due to their specific nature, these statements are subject to inherent risks and uncertainties, as they depend on certain circumstances and facts, most of which being beyond the control of the Group. Therefore actual results could differ, even to a significant extent, with respect to those reported in the statements.

3 Agenda Introduction New brand and product initiatives Q3 and 9M 2010 Results

4 Introduction

5 Another encouraging set of results in Q3 2010 • Top line growth and better profitability What we achieved • Free Cash Flow generation • Improved Financial leverage (2.8x) • Strategic renewal of the Dior license agreement

6 New brand and product initiatives

7 Enhancing our brands and product portfolio Launch project - Exclusive launch preview - Chain activities Launch project presentation of the collection to WWD Grand Optical & Vision Express - Website - Dedicated press launch of the www.blesstheboring.com TH 1985 style for Tommy Hilfiger’s 25 th Anniversary - Facebook Contest October to December 2010

8 Q3 and 9M 2010 Results

9 Q3 2010 overview • Improved results in Europe 1 Market • Further progresses in US, both in sunglasses and prescription frames environment • Solid performance of Asian markets, led by greater China 2 • Volumes growth and easing price/mix pressures in all product categories Business • Good performance of luxury and priority brands drivers • Strong growth of Carrera in Europe 3 • Better utilization of production capacity in all plants • Higher operating leverage Profitability • Smaller and more profitable retail business, with good comps sales 4 • Improved profitability Financial • Better Working Capital management Leverage • Focus on core business investments

10 Financial Highlights in millions of Euro and % of net sales perimeter currency and at constant perimeter currency and at constant Q3 2010 Q3 2009 % Change 9M 2010 9M 2009 % Change Net sales 237.9 212.6 +7.6% 818.2 774.7 +5.4% +11.9% +5.6% 100.0% 100.0% 100.0% 100.0% Gross profit 136.2 115.2 482.7 446.4 +18.2% +8.1% 57.3% 54.2% 59.0% 57.6% EBITDA 17.7 3.5 82.5 55.0** n.m. +50.1% 7.5% 1.6% 10.1% 7.1% Operating result 7.7 (7.6)* n.m. 52.4 21.7*** n.m. 3.2% -3.6% 6.4% 2.8% Group net result (0.4) (22.1)* (3.6) (30.0)*** n.m. n.m. -0.2% -0.4% -10.4% -3.9% Net financial position 262.7 586.3 -55.2% Sales of the disposed retail chains in Spain and Australia accounted for Euro 9.4 million in Q3 2009 and 27.9 million in 9M 2009. *adjusted for the write down of assets for Euro 28 million in view of the sale of retail companies; **adjusted for the provision of Euro 7.4 million for non-recurring costs related to the industrial reorganisation plan (recorded in Q2 2009);. ***adjusted for the provision of Euro 7.4 million, the goodwill write down of Euro 120.7 million (recorded in Q2 2009) and the write down of assets for Euro 28 million in view of the sale of retail companies (recorded in Q3 2009).

11 Sales performance perimeter currency and at constant perimeter currency and at constant 9M 2010 9M 2009 Q3 2010 Q3 2009 (in millions of Euro and % change) (in millions of Euro and % change) Total Sales Total Sales +11.9% +5.6% +7.6%: +5.4%: 818.2 774.7 237.9 212.6 Wholesale Sales Wholesale Sales +16.5% +8.5% +4.6% +7.5% - Volume growth and improving mix, with high-end brands more in favour 751.1 - Carrera up 31% thanks to expansion program 692.0 214.7 - Tommy Hilfiger and Boss Orange launch 184.3 Retail Sales Retail Sales -17.9% +9.5% -18.9% +15.8% - Solstice comp sales up 12.4% thanks to good sun business in the US 67.1 28.3 82.7 23.2

12 Sales drivers Perimeter* currency and at constant Perimeter* currency and at constant Q3 2010 9M 2010 % Change % Change by region: • Europe - Better momentum in all the main channels and brands; +11.0% +2.3% +5.7% -1.1% - France and Spain best performers; - Italy flattish also due to channel clean-up; Greece -52%. - US market strong in dept stores and sun business; • America +8.1% +21.7% +12.4% +6.3% - 3Os channel recovering some growth; - Smith sport business growing fast. • Asia +11.9% - Greater China markets solid, growing double digits; +16.3% +29.7% +23.1% - Duty free business strong; - Japan mitigating decline . by product: • Sunglasses - Volumes and better mix across all important collections +19.3% +8.8% • Prescription +2.0% - Improved price/mix effect +7.6% +2.0% • Sport products & other +2.2% - Solid preseason sport business

13 EBITDA performance 9M 2010 9M 2009 Q3 2010 Q3 2009 (in millions of Euro) (in millions of Euro) Total EBITDA Total EBITDA + 50.1 % n.m. 82.5 55.0 +590 bps 17.7 3.5 driven by: Margin 7.5% 1.6% Margin 10.1% 7.1% Wholesale EBITDA Wholesale EBITDA • Gross margin +35.0% improvement thanks to n.m. better capacity utilization • Higher operating leverage 78.5 58.2 16.6 4.1 Margin 7.7% Margin 2.2% 10.5% 8.4% Retail EBITDA Retail EBITDA • Smaller and more efficient retail structure n.s. n.m. 1.1 4.0 (3.2) (0.6) Margin Margin 4.9% 5.9% -2.2% -3.9%

14 Net Result in millions of Euro and % on net sales Q3 2010 Q3 2009 9M 2010 9M 2009 (30.0) ( 22.1 ) Group Net Result (0.4) (3.6) -0.2% -10.4% -0.4% -3.9% Below the operating line: • Positive forex impact in Q3 • Exchange rate differences: 2.2 5.7 7.4 (2.4) 2010 due to USD devaluation 3.1% 1.0% -0.3% 0.7% • Lower interest expenses • Interest expenses: (6.1) (10.1) (20.7) (31.5) thanks to lower debt -4.8% -4.1% -2.6% -2.5% • High income taxes due to • Income taxes: (23.5) (6.5) (5.0) (18.3) prudent policy not to accrue -2.9% -2.3% -2.4% -2.7% deferred tax assets

15 Free Cash Flow in millions of Euro 9M 2010 Q3 2010 9M 2009 Q3 2009 Free cash flow 64.5 12.6 (12.3) 6.3 key drivers: Cash flow from operating activities 83.2 20.7 16.0 15.1 14.1 9.4 (4.7) - net profit and other changes 34.2 6.6 19.8 - change in working capital 49.0 6.6 (18.7) (8.1) (28.3) (8.8) Cash flow from investing activities Net financial position as at 30 Sept 2010 262.7 -6.7 ∆ vs 1H 2010 position of 269.4 -325.3 ∆ vs FY 2009 position of 588.0

16 Net Financial Position in millions of Euro 588 €74m 13 Other net of cash 250 €195m HY 7 Bonds 315 3 €195m Revolv. 3 269 49 Facility 6 263 13 €124m Senior Debt Proceeds Proceeds Net Debt Proceeds Q1 2010 Net Debt other other Q2 2010 Net Debt Q3 2010 Net Debt from from from Free Cash 2009 Q1 2010 Free Cash 1H 2010 Free Cash 9M 2010 Reserved Rights Rights flow flow flow Capital Issue Auction Increase Sale Net Debt / Net Debt/ Net Debt/ Net Debt / EBITDA Adj LTM: 4.5x EBITDA Adj LTM: 3.4x EBITDA Adj: 8.9x EBITDA Adj LTM: 2.8x Note: EBITDA Adjusted

17 Partnerships Strong focus on an ever more efficient brands portfolio Strong focus on an ever more efficient brands portfolio Sept. 28, 2010: Worldwide licensing agreement with Dior renewed until the end of 2017 Worldwide licensing agreement with Diesel July 21, 2010: not renewed at expiration (end of 2010) Worldwide licensing agreement with Juicy Couture May 26, 2010: renewed until the end of 2013 Global licensing agreement with Marc Jacobs April 27, 2010: and Marc by Marc Jacobs extended until the end of 2015

18 Q&A

19 Appendices

20 Consolidated P&L Q3 2010 Q3 2009 % Change 9M 2010 9M 2009 % Change Net sales 237.9 212.6 818.2 774.7 +11.9% +5.6% Gross profit 136.2 115.2 482.7 446.4 +18.2% +8.1% % 57.3% 54.2% 59.0% 57.6% EBITDA 17.7 3.5 82.5 47.5 n.m. +73.5% % 7.5% 1.6% 10.1% 6.1% 82.5 55.0 ** 17.7 3.5 +50.1% EBITDA from ordinary activities n.m. 10.1% 7.1% % 7.5% 1.6% Operating profit/(loss) 7.7 (35.6) 52.4 (134.5) n.m. n.m. % 3.2% -16.8% 6.4% -17.4% (7.6) * 21.7 *** 7.7 52.4 n.m. n.m. Operating profit/(loss) from ordinary activities % 3.2% -3.6% 6.4% 2.8% Net profit/(loss) (0.4) (50.1) (3.6) (186.2) n.m. n.m. % -0.2% -23.6% -0.4% -24.0% (22.1) * (0.4) (3.6) n.m. (30.0) *** n.m. Net profit/(loss) from ordinary activities % -0.2% -10.4% -0.4% -3.9% *adjusted for the write down of assets for Euro 28 million in view of the sale of retail companies; **adjusted for the provision of Euro 7.4 million for non-recurring costs related to the industrial reorganisation plan (recorded in Q2 2009);. ***adjusted for the provision of Euro 7.4 million, the goodwill write down of Euro 120.7 million (recorded in Q2 2009) and the write down of assets for Euro 28 million in view of the sale of retail companies (recorded in Q3 2009).