Slides
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CAPITAL MARKETS PRESENTATION June 11th 2025
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Highly committed management Team TODAY'SSPEAKERS Charles-Henri de Maleissye CEO Belgium Tiffany Foucault General Secretary HR, CSR & Governance François Gazuit Store operations director Vincent Gufflet Services & Operations Director Florence Lemetais Sales & Marketing Director Bruna Olivieri Country Manager Italy Nuno Luz Managing Director Iberia Cécile Trunet Favre Communication & Public Affairs Director Olivier Theulle Ecommerce & Digital Director Thibault Vigié Strategy & Transformation Director Enrique Martinez CEO Jean-Brieuc Le Tinier, CFO
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03 Build a digitized omnichannel retail Scale the next in-home subscription-based assistance service Lead durable behaviors CAPITAL MARKETS DAY 2025 A UNIQUE TRANSFORMATION Creating value and setting new retail standards around omnichannel, services, sustainability
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04 #1 WESTERN & SOUTHERN EUROPE #1 Embedded AI #1 Premium Products Q3 Q4 #1 #2 #1 #2 #2 In retail of editorial products, consumers electronics and domestic appliances Everyday Technical products 50% Editorial Products 14% Domestic Appliances 22% Others 14% 2 €10.5 bn1 France 60% Switzerland 2% Belgium 6% Iberia 8% Italy 25% €10.5 bn1 1,527 Stores o/w 45% Franchisees >20% online sales CAPITAL MARKETS DAY 2025| 1 Pro forma: unaudited: Group Sales (12m Fnac Darty + 1m Unieuro) + 11m Unieuro (Jan-Nov 2024) 2 Include: Ticketing, B2B, after sales service, membership fees, franchise fees, insurance, consumer credit #X Market rank
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PROFITABLE AND UNIQUE 05 Digitized omnichannel retail All 2021 non profitable stores recovered / in recovery > 20% Of online sales < 20% Of Revenue online #1 Home delivery & installation in France #1 E-commerce in France after Amazon1 52% Omnichannel online sales +6pts vs 2021 (49% incl. Unieuro) CAPITAL MARKETS DAY 2025| 1 Fevad Q4 24 Everyday
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# of subscribers 2 1 SUCCESSFUL TRANSITION 06 Towards profitable & predictable subscription service model with c.2m subscribers Best in class operations #1 Repairer3 Competitive acquisition costs Industry benchmark << Customer stickiness x1.5 Purchase frequency x1.6 Average basket x1.1 NPS on at-home repair Everyday 0,2 1,4 0,3 0,5 Feb. 2021 Feb. 2025 0.5m 1.9m x3 vs. standard Darty customer CAPITAL MARKETS DAY 2025| 1 Incl. Vanden Borre Life 2 Including Darty Sérénité 3 Internal
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More sustainable offer Sustainability score1 2nd life €90m €160m STRONG FOUNDATIONS 07 On circular retail and the path to better consumption Repair # of repaired products 2.1m 2.6m 2021 2024 +24% 2021 2024 GMV 114 133 2021 2024 +19pts x1.8 More sustainable choice A World Best in class 65/100 (+4pts vs 2022) #2 in specialized retail Everyday CAPITAL MARKETS DAY 2025| 1 Average of a reliability score and a repairability score, constructed from data collected by Fnac Darty's after-sales service over the last two years for each reference, and weighted by the volumes of products sold by the Group in the year in question
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NEW GROWTH VENTURES 08 AI & GenAI acceleration Impactful Retail Media offer Disruptive partnerships to accelerate growth €100m 2019 2024 x1.5 1.2% of Group’s sales >50% Of Store associates are AI Experts Everyday Sales1 CAPITAL MARKETS DAY 2025| 1 France sales
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#1 #2 #1 #2 #2 Since Dec. 2024 Everyday UNPRECEDENTED MARKET CONSOLIDATION Building the leading player in Western & Southern Europe 9 & 2024 Excl. Unieuro1 2024 Pro forma2 Sales €7.9bn €10.5bn EBIT margin 2.3% 2.0% Weight of France in Group’s sales 80% 60% #X Market rank CAPITAL MARKETS DAY 2025| 1 Fnac Darty 2024 12 months excluding Unieuro 2 Pro forma: unaudited: Group P&L (12m Fnac Darty + 1m Unieuro) + 11m Unieuro (Jan-Nov 2024)
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DELIVERING STRONG FINANCIALS Supported by services mix and growth Ramp up of subscription services Gross margin rate increase as a % of sales Strong free cash flow generation 2021 2022 2023 2024 Subscription services1 Other Services 29.5% 30.6% +110bps 2021 2024 € 515m Cumulative FCF 2 2021-2024 10 25% Contribution of services in 2024 gross margin >60% 2024 Contribution of subscription services in B2C services gross margin (vs. 22% in 2021) Everyday CAPITAL MARKETS DAY 2025| 1 Darty Max, VDB Life and Fnac Vie Digitale 2 Free cash flow from operations, excluding IFRS 16. Fnac Darty standalone
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IMPROVED FINANCIAL 11 Profile and shareholder return Payout ratio above target 1.98x 1.78x 1.65x1 1,5x Controlled net debt with leverage ratio below 2x target 31/12/2022 31/12/2023 31/12/2024 Dividend per share2 37% 38% 39% 40% 2021 2022 2023 2024 €1.40€1.00 €0.45 €1.00 Everyday CAPITAL MARKETS DAY 2025| 1 Excluding one-off impacts of the acquisition of Unieuro (c. +0.1x leverage impact) and the ticketing deconsolidation (c. +0.2x leverage impact) 2 Paid in year + 1
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BEYOND FIGURES 12 A group “à l’avant-garde” What if we consume better ? Circularity Culture Fair markets CAPITAL MARKETS DAY 2025
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A FUTURE OF CHALLENGES AND OPPORTUNITIES
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14 SOLUTIONS ORIENTED DURABLE & AFFORDABLE ENVIRONMENT GEOPOLITICS UNIFIED CONVERSATIONAL FUTURE OF RETAIL AN ACCELERATING WORLD CAPITAL MARKETS DAY 2025 DEMOGRAPHICS TECHNOLOGY TECH ACCELERATION TALENT REVOLUTION
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FUTURE OF OUR CHANNELS 15 Store #1 in our countries Tech & durables web penetration1 In value, continental Europe French people remain deeply attached to stores 92% believe stores are essential highlighting their importance for proximity and social connection2 16-19 (pts.a) 22-24 (pts.a) 24-30F GE +2pts +1pt c.55-60% BE +3pts +0.5pt c.35-40% ES +3pts +1pt c.40-45% FR +1.5pts +1pt c.35-40% IT +1.8pts +0.5pt c.30-35% PT +2pts +2pt c.30-35% 29% 51% 47% 14% 35% 4% 21% 23%19% 30% 16% 35% 11% 27% 2016 2017 2018 2019 2020 2021 2022 2023 2024 36% 30% 35% 24% COVID CAPITAL MARKETS DAY 2025| 1 Source : GFK for 16-24, Internal assessment 24-30 2 Bonial 2024 Study “The Commercial Appeal of major retail chains” – 10,000 French respondents’ panel: Stores are important and should not be closed”, % agreement
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Sustainability 2nd life, more repairable, less resources intensive (Re)equipment cycle Hard, MDA, Mangas, Records, components, Gaming Innovation AI inside, Robotics, Connectivity Diversification New consumer electronics & appliances cat. Premium tech & durable growth opportunities FUTURE OF OUR MARKETS 16 CAPITAL MARKETS DAY 2025 PASSION CURIOSITY COMMUNITIES
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GROWTH POTENTIAL 17 In our products and services markets Products 2024 Market share of #1 player in core geographies Services 2024 # of subscribers in France 17% 21% 23% 25% #1 player #1 player c.13m c.10m 3.5m 1.1m Home Services player #1 Music#1 Pay TV 2#1Video 1 1.9m CAPITAL MARKETS DAY 2025| Sources : GfK, Annual Reports, Players’ websites 1 Estimated based on 40% of French households' subscription in 2024 (Source : Capital) and c.31m households 2 Based on Alloforfait estimations – c.10m subscribers in France
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#1 Editorial products LOYALTY, CULTURE, TECH #1 Electronics & appliances#3 Electronics & appliances LEVERAGING 18 Strong, iconic & preferred brands in their local markets « LIBÉRONS LA CULTURE » « C’EST PARTI POUR DURER » « BATTE. FORTE. SEMPRE. » PRICE, CHOICE, SERVICE, SUSTAINABILITY PASSION, TECHNOLOGY, PEOPLE Preferred retailer CAPITAL MARKETS DAY 2025| Sources : EY (Fnac, Darty 2024), Ipsos (Unieuro, 2024)
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HIGHLY COMMITTED AND SEASONED TEAMS 19 To serve our customers & partners Stores / Warehouses / Delivery / Call Center / Headquarters / Repair 53 64 2020 2024 +11pts 73% Employees recommend the company1 ALL LEADERS 30,000 CHANGE MAKERS NPS CAPITAL MARKETS DAY 2025| 1 Share of employees answering 7 to 10 to « On a scale of 1-10, how likely are you to recommend working at this organization to your friends and family?”
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20 INSPIRING COMMERCE THAT MATTERS We renew our commitment to a unique vision we shaped by embracing a changing retail landscape. A vision that pioneered our omnichannel, service-driven and sustainable model we implemented all over our stores through Europe with our passionate employees. And now, we accelerate. Building on our own success, we are scaling sustainable and innovative solutions that forge a commerce that matters – for our customers, for all the Fnac Darty teams, for our partners and stakeholders. A commerce that builds relationships, crafts experiences, and creates moments that last. CAPITAL MARKETS DAY 2025
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21 CAPITAL MARKETS DAY 2025
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22 REPAIR & BEYOND Lead European circular & service-based retail #Beyond retail Scale services for third parties and partners throughout Europe CAPITAL MARKETS DAY 2025 BEYOND DIGITIZED OMNICHANNEL Set the European benchmark for social and human centric omnichannel retail experience BEYOND RETAIL Scale services for third parties and partners throughout Europe Beyond everyday: Three strategic pillars To inspire a commerce that matters
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BEYOND DIGITIZED OMNICHANNEL Set the European benchmark for social and human centric omnichannel retail experience REPAIR & BEYOND Lead European circular & service-based retail BEYOND RETAIL Scale services for third parties and partners throughout Europe
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REPAIR & BEYOND Lead circular and service based European retail BETTER PRODUCTS Lead on high margin premium & durable products BETTER USE & RE-USE Scale in-home assistance services & operations throughout Europe BEYOND CARBON Take planetary boundaries into account
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INNOVATION Preempt durable innovations and drive sustainable choice BETTER PRODUCTS Lead on high margin premium & durable products A more sustainable offer (+19 vs 2021) Sustainability score1133 Product leadership #1 Editorial products #1 Premium Products #1 White goods #1 AI inside Q3 Q4 INDUSTRY Engage suppliers & partners in improving the sustainability of their products Lead on High margin premium & durable products REPAIR & BEYOND 1 2 3 25 PRODUCT Grow profitable market share on high margin premium & durable products CAPITAL MARKETS DAY 2025| 1 Average of a reliability score and a repairability score, constructed from data collected by Fnac Darty's after-sales service over the last two years for each reference, and weighted by the volumes of products sold by the Group in the year in question
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Lead on high margin premium & durable products Grow profitable market share Grow Affordability 26 BETTER PRODUCTS Editorial ProductsWhite Goods Portfolio review Unieuro Synergies Portugal developement Streamlined OperationsSourcing Business sales (c.+€300m vs 2024) x2 Kitchen Business sales (+c.€130m vs 2024) x1.6 Footprint expansion Cross-selling Diversification Kidults Partnerships & Licences Subscriptions & loyalty Events Credit solutions Trade-in 2nd Life GMV (+c.€180m vs 2024) x2 #1 AI inside CAPITAL MARKETS DAY 2025 REPAIR & BEYOND 1 2 3
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BETTER PRODUCTS Preempt durable innovations AI inside, connectible, more reliable, more repairable, less resources intensive Preempt durable innovations and drive sustainable choice Engage suppliers & partners in improving the sustainability of their products Align 2nd life retail on New products standards Seamless integration in customer journey Same UX & services Help customers choose more sustainable products Reliability Reparability Spare parts availability Leverage unique owned data on products c.200,000 datapoints Sustainability Portal for suppliers and Product teams (+12pts vs ‘24) 80% Engage suppliers representing of CO2 emissions from product manufacturing in setting science-aligned targets by 2026 CAPITAL MARKETS DAY 202527 Lead on high margin premium & durable products REPAIR & BEYOND 1 2 3 Personnalized and more sustainable product recommendation based on Real user feedbacks, Real reliability & reparability
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Feb.21 Feb.25 0.5m 1.9m A successful transition towards subscription-based services Scale in-home assistance services & operations throughout Europe BETTER USE & RE-USE 2030F # Of Subscribers (million) x2 x2 x2 28 CAPITAL MARKETS DAY 2025 x2 x4 STRONGER Maximize ARPU & reduce churn LARGER Diversify on new growth activities start with energy efficiency Scale in-home assistance services & operations throughout Europe EVERYWHERE Scale underpenetrated channels (franchise, web) and countries (Italy, Portugal) % Subscribers within B2C Services margin >80%60% REPAIR & BEYOND 1 2 3 c.4.0m
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BETTER USE & RE-USE Scale Underpenetrated Channels and Countries Underpenetrated Channels Franchises Web Call Center New offers Mobile AI Tools Assistance Underpenetrated Countries Mobilecare24 CasaSicura24 Operations ramp-up Repaired products by 2030 (+34% vs 2024) 3.5m Maintenance & refurbishment capabilities ramp-up (in-house & partners) Digital Passport & Predictive maintenance CAPITAL MARKETS DAY 202529 Scale in-home assistance services & operations throughout Europe @ REPAIR & BEYOND 1 2 3
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BETTER USE & RE-USE Upsell & cross-sell (Owned & partners) Maximize ARPU Services Bundle & options (Owned, Partners) 30 CAPITAL MARKETS DAY 2025 Reduce Churn + x Today Tomorrow (illustrative) + + + + … Process Data Training Sales Excellence Personalisation Customer journey Benefits Personalized Experience Selfcare CRM campaigns Retention taskforce Retention Scale in-home assistance services & operations throughout Europe REPAIR & BEYOND 1 2 3
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Scale in-home assistance services & operations throughout Europe BETTER USE & RE-USE 31 CAPITAL MARKETS DAY 2025 Diversify on new growth activities: Start with Energy Efficiency Attractive market High demand Incentives, regulations 500k houses to retrofit / y in France Need for trust Fragmented Value Chain Covercare Climasmart Existing capabilities Charging stations Energy efficiency Home automation By 2030 – Holistic approach Air treatment Heating Solar panels Home automation Charging stations Lead Energy study Technical visit Formalities Installation Inspection Maintenance & Repair Organic (leverage Covercare), partnerships and M&A x2 x2 REPAIR & BEYOND 1 2 3
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BEYOND CARBON Climate & resources Manufacturing (60% of total emissions)1 Emissions covered by science aligned targets by 2026 (+12pts) 2 80% Usage (33% of total emissions) 2030 Repairs (+0.9m) 2 3.5m Predictive maintenance Develop and structure MDA reuse sector (Collection, Refurbishment, Spare parts) End of life & waste (4.4% of total emissions) 2030 MDA WEEE collection (home delivery) (+20pts) 2 >70% Transport & Energy (1.5% of total emissions) 2030 CO2 emissions Vs 2019 (-19pts) 2 -50% 2027: Adaptation policy « Fnac Darty in a 4° world » and 1st Biodiversity policy 32 Take planetary boundaries into account CAPITAL MARKETS DAY 2025| 1 Including upstream transportation 2 Vs 2024 REPAIR & BEYOND 1 2 3
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Lead circular and service-based European Retail REPAIR & BEYOND 33 2030 c.4M Subscribers >80% of subscribers within B2C Services margin Outperforms market -50% Carbon emissions vs 20191 BETTER PRODUCTS Lead on high margin premium & durable products BETTER USE & RE-USE Scale in-home assistance services & operations throughout Europe BEYOND CARBON Take planetary boundaries into account CAPITAL MARKETS DAY 2025| 1 Group, Energy & Transportation REPAIR & BEYOND 1 2 3
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REPAIR & BEYOND Lead European circular & service-based retail BEYOND DIGITIZED OMNICHANNEL Set the European benchmark for social and human centric omnichannel retail experience BEYOND RETAIL Scale services for third parties and partners throughout Europe
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BEYOND DIGITIZED OMNICHANNEL Set the European benchmark for social and human centric omnichannel retail experience SOCIAL Set the European standard for social omnichannel experience HUMAN CENTRIC Unleash Human magic empowering Teams and unlocking the full potential of customer interactions EVERYWHERE Expand the reach and consolidate the European market
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32% 42% SOCIAL 2030F >50% Members (%GMV 1) Set the European benchmark for Social and human centric omnichannel retail experience 2019 2024 36 BEYOND DIGITIZED OMNICHANNEL 1 2 3 Our members, a growing part of our GMV Build long term daily relationships with our customers SOCIAL Build the ultimate shopping experience SEAMLESS Unlock full potential of digitized and conversational omnichannel CAPITAL MARKETS DAY 2025| 1 GMV = Owned channels + Marketplace, France +8pts +10pts
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SEAMLESS Unlock full potential of digitized and conversational omnichannel retail 37 CAPITAL MARKETS DAY 2025 Best-in-class C&C Best Omnichannel Delivery Times H+1 Local inventory delivery Day+1 Central inventory delivery Best-in-class MDA / TV operations Optimized warehouses Better D+1 coverage New Warehouse in Rome Conversational Online Community Experiences Personalization Human ConnectionConversational search on all websites Visio store Visio repairCall center Social App Product reco Gift finder Selfcare Cyberguardian AI Chatbot >50% of online revenue from C&C BEYOND DIGITIZED OMNICHANNEL 1 2 3
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The place to be to live unique experiences everyday Social humanized stores SOCIAL Build the ultimate shopping experience 38 CAPITAL MARKETS DAY 2025 Store #1 market channel in our geographies Ecommerce market penetration 35-45% by 2030F Inspire Touch, feel, play Get personalized experiences and advantages Learn Connect & build long lasting communities around passions BEYOND DIGITIZED OMNICHANNEL 1 2 3
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SOCIAL Build the ultimate shopping experience 39 CAPITAL MARKETS DAY 2025 >200 Stores Customer focus Members, Service oriented, Advice, assistance, simplicity Immersive experience Product, Service, Events New Categories Spatial computing, BeautyTech, SportTech, Security, PetTech, Outdoor Adaptative & customizable Layout, Assortment, Modularity Test & Learn Insights Advanced Technology CRM, Category Management 5 Years Stores transformation & upgrade plan 25-30F BEYOND DIGITIZED OMNICHANNEL 1 2 3
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SOCIAL Build the ultimate shopping experience 40 CAPITAL MARKETS DAY 2025 Inspirational Content everywhere & everyday Tech & Culture thought leadership Store associate influencer Beyond stores Brand & influencers Collaboration Out of home events Social brands driving customer acquisition BEYOND DIGITIZED OMNICHANNEL 1 2 3
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LEAN AT SCALE Free up value-added and productive time Increase face-to-face time with customers PEOPLE 1ST Empower & Develop Teams HUMAN CENTRIC Unleash Human magic empowering Teams and unlocking the full potential of customer interactions 33% Women in Top 200 73% Employees recommend the company 80% Store managers are internally promoted 100% Trained store associates on products & services CAPITAL MARKETS DAY 202541 Diversity & Expertise Unleash human magic and unlock the full potential of customer interactions AT THE END OF 2024 BEYOND DIGITIZED OMNICHANNEL 1 2 3
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Support Diversity & Inclusion Strengthen people’s expertise For today & tomorrow Products & Services Sustainability, Repair, Climate Digital, Data, AI, Cloud PEOPLE 1ST Empower & Develop Teams Share Value Creation Foster workplace quality Facilitate internal promotion Support diverse career paths Promote employee recognition and engagement through transparent value-sharing mechanisms Of women Leaders (Top 200, +7pts vs 2024) >40% Employee shareholding (+2.4pts vs 2024, Non dilutive1) >5% Trained on AI & climate 100% School stores 14 Highly committed teams enhancing customer experience 42 CAPITAL MARKETS DAY 2025| 1 Covered through dedicated share buy back plan BEYOND DIGITIZED OMNICHANNEL 1 2 3
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LEAN AT SCALE Free up value-added & productive time 43 CAPITAL MARKETS DAY 2025 Employee #Value added tasks #Customer facing #Management time Lean everywhere Simplify organization Focus on core Front Mid Back Governance BI Cyber Modernisation Standardization Simplification AI & Cloud After sales, Sales & Marketing, Logistics Copilots & cockpits at scale AI Driven operations Upgrade tech & operations tools & process Operational excellence PRODUCTIVITY CONSUMER EXPERIENCE TALENT EXPERIENCE BEYOND DIGITIZED OMNICHANNEL 1 2 3
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LARGER Enlarge addressable market EVERYWHERE Maximize customer touchpoints online and offline STRONGER Consolidate & strengthen #1& #2 positions EVERYWHERE Expand the reach and consolidate the European market CAPITAL MARKETS DAY 2025 | 1Source: GfK44 #1 #2 #1 #2 #2 Expand and strengthen our impact and presence across Europe #1 or #2 in most of our markets Store #1 market channel in our geographies Ecommerce market penetration 23-35%1 BEYOND DIGITIZED OMNICHANNEL 1 2 3
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STRONGER Consolidate & strengthen #1/#2 positions CAPITAL MARKETS DAY 202545 Opportunistic M&A : International, Services €20m synergies by 2026 (purchasing and sourcing) Beyond everyday Marketplace, Services, Retail Media International coordination acceleration Procurement, Sourcing, IT, Retail Media, People mobility, Accounting, Payroll, Sales administration New owned services development (Private label legal Warranty, 2nd life, energy, out of warranty repair) Process standardization and alignment, systems integration Operations full integration into Group operations Offer 2nd life, Marketplace, Franchise partnerships & & & & Challenging post covid context Strong competition from low-cost players, esp. Chinese platforms Strong decline in sales and profitability Turnaround plan to reach breakeven New governance New strategy: rebuild offer (products, services, experience), accelerate omnichannel, streamline costs Unlock European synergies Turnaround non profitable subsidiaries BEYOND DIGITIZED OMNICHANNEL 1 2 3
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LARGER Enlarge addressable markets Accelerate Small & Medium business activities New customer segments : Hospitality Europe New B2B Tech Stack B2B native customer journey & Services 46 2024 2030F >€400m X1.4 Small & Medium business activities sales CAPITAL MARKETS DAY 2025 BEYOND DIGITIZED OMNICHANNEL 1 2 3
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MARKETPLACE REVERSE EVERYWHERE Maximize Customer Touchpoints ONLINE Online expansion CAPITAL MARKETS DAY 202547 AI RETAIL Launch Diversification +1New category per year Digital Shop in shop x Other Leading Marketplaces Leading Social networks (upcoming) Owned best in class Marketplace technology Owned websites GPTs Chat Based AI retail Affiliation BEYOND DIGITIZED OMNICHANNEL 1 2 3
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EVERYWHERE Maximize Customer Touchpoints OFFLINE Offline expansion on selected concept & geographies 20-24 25-30F Stores openings (Net of closures) +92 +150 +75% CLASSIC ~1,500 sqm CAPITAL MARKETS DAY 202548 CLASSIC “Darty like” ~1,500 sqm PROXI ~700-1,000 sqm KITCHEN SOLO ~150-300 sqm BEDDING SOLO ~ 200 sqm PROXI ~700 sqm BEYOND DIGITIZED OMNICHANNEL 1 2 3
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Lead circular and service-based European Retail BEYOND DIGITIZED OMNICHANNEL 49 2030 SOCIAL Set the European standard for social omnichannel experience >50% Of GMV with loyal members +150 Store openings (net of closures) >200 Store upgrade 5% Employee shareholding (Non dilutive1) HUMAN CENTRIC Unleash Human magic empowering Teams and unlocking the full potential of customer interactions EVERYWHERE Expand the reach and consolidate the European market CAPITAL MARKETS DAY 2025| 1 Covered through dedicated share buyback plan BEYOND DIGITIZED OMNICHANNEL 1 2 3
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REPAIR & BEYOND Lead European circular & service-based retail BEYOND DIGITIZED OMNICHANNEL Set the European benchmark for social and human centric omnichannel retail experience BEYOND RETAIL Scale services for third parties and partners throughout Europe
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BEYOND RETAIL Scale services for third parties and partners throughout Europe ASSETS Scale Operations for third parties (Omnichannel, Circularity, Culture) AUDIENCE Lead Omnichannel Retail Media
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ASSETS Scale operations for third parties BEYOND RETAIL 1 2 3 Best-in-class Assets Best-in-class Marketplace Tech stack #1 Home delivery & installation #1 Repairer CAPITAL MARKETS DAY 202552 CIRCULARITY Scale circularity operations for third parties CULTURE Develop culture operations for third parties Monetize Fnac & Darty best in class solutions and assets to Third parties OMNICHANNEL Scale omnichannel operations for third parties A growing offer for third parties Since 2024 Since 2023
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ASSETS Scale omnichannel operations for third parties Marketplace Operations Bulky Products The most comprehensive solution for best-in-class fulfilment #1 FulfillmentSaas MP The most comprehensive Saas Marketplace suite (2026) Best-in-class Marketplace Tech stack Saas solutions for retailers & Brands MP Back office, Catalogue, Fulfilment, Retail Media #Saas contracts 95 by 2030 (incl. Unieuro) Leaders-like services (Since 2024) • Standard, express and reverse delivery • Fulfilled seller benefits >75 sellers YTD 0% >35% 10% 0% >60% 30% Owned MP (% fulfilled) Other MP (% of Weavenn sales) Best in class Fnac & Darty solutions (2025) + C&C in store MDA / TV Last mile delivery & installation 2nd life Repair CAPITAL MARKETS DAY 202553 MDA TV DIY Furniture Monetize our Best- in-class last mile delivery & installation capabilities to third parties 23 25YTD 30F 23 25YTD 30F BEYOND RETAIL 1 2 3
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ASSETS Scale circularity operations for third parties Ecoconception Repair & maintenance, 2nd life In-home & in-office assistance operations Subscriber managment #1 ASSISTANCE #1 PARTNER TELCO & PAY TV PLAYERS #1 REPAIRER End to end Customer service management for subscribers Technical support Subscription +350,000 subscribers management Repair Customer care #1 Partner of Insurers and Suppliers #1 Partner of Suppliers #1 Partner of Retailers & Multi-utilities Protection & Warranties Cyberguardian Enterprise Fleet Repair IT fleet management Partners Leasing solutions (in-home & in-office) CAPITAL MARKETS DAY 202554 Best in class circularity operations for Suppliers, Sellers, Retailers, Insurers, Telcos, Utilities, Banks, Real Estate Sourcing Office BEYOND RETAIL 1 2 3
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ASSETS Develop culture operations for third parties TODAY +8,500 cultural events organized by the group: in-store and off-site (VivaTech, Fnac Live, Gaming Tour...). Unique Experiences New formats and collaborations designed to promote and celebrate culture. TOMORROW TODAY Publishers’ distribution solutions : 14k publishers, 4k suppliers, 3.5m titles to more than 50% of France bookstores. Unique Omnichannel solutions #BRANDS #BOOKSTORES #ARTISTS #MAJORS Bookstores digitalization solutions C&C, next-day book ordering, Retail Media solutions TOMORROW Direct to fans Connecting artists with their fans by designing and managing artist websites (order processing, delivery, after-sales) CAPITAL MARKETS DAY 202555 BEYOND RETAIL 1 2 3
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AUDIENCE 56 613 k 1.2 M 1.6M 8,000 EVENTS +80k visitors @Fnac Live 29M UV1 2000 screens 40M in CRM 11M subscribers 1.3m UV/m DOOH The most comprehensive retail media offer CAPITAL MARKETS DAY 2025| 1 France, Fevad Q4 2024 Lead omnichannel Retail Media BEYOND RETAIL 1 2 3
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0.9% 1.2% AUDIENCE 2030F 2% Retail Media (% of Group’s sales) Lead omnichannel Retail Media 2019 20241 57 Unlock full potential on underpenetrated as well as emerging segments Lead on data sharing Scale throughout Europe Sellers Non- endemic In-store DOOH Connected TV c. x5 by 2030 Technology upgrade (in-house and partners) The most comprehensive Retail Media offer Leverage our audience to lead omnichannel retail media CAPITAL MARKETS DAY 2025| 1 Including Unieuro x1.7 x1.3 BEYOND RETAIL 1 2 3
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BEYOND RETAIL Scale services for third parties and partners throughout Europe CAPITAL MARKETS DAY 202558 2030 ASSETS Scale Operations for third parties 2% Share of retail media in total Group's sales Scale Omnichannel Circularity Culture Operations for third parties AUDIENCE Lead Omnichannel Retail Media BEYOND RETAIL 1 2 3
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FINANCIAL PROFILE AND CAPITAL STRUCTURE
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Strong focus on profitability and cash generation Strong liquidity position Dividend policy payout above target Proactive debt management and conservative net leverage target CAPITAL MARKETS DAY 202560 FROM A SOLID STARTING POINT
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61 TOWARDS AN INCREASED PROFITABILITY ROC margin1 at least +100 bps by 2030 Key growth drivers c.4M Subscribers x3 ROC Italia 2% Share of Retail media in Group's sales Services from 25% to 30% of Group's gross margin c.€300m Cumulative Performance plan Outperform market CAPITAL MARKETS DAY 2025| 1 As a % of sales 2% REPAIR & BEYOND BEYOND DIGITIZED OMNICHANNEL BEYOND RETAIL >3%
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By 2030 Beyond everyday deployment Deploy in-home assistance services Omnichannel experiences Retail media acceleration Marketplace launch By 2026 At least €20m synergies (purchasing and sourcing) CURRENT OPERATING PROFIT ITALIA c.€27m 2024PF 2030F c.€80mx3 CAPITAL MARKETS DAY 202562 STRONG VALUE CREATION COMING FROM ITALIA
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~€90m ~€35m ~€35m 2024PF ~€90m ~€70m ~€40m 2025-2030F CAPITAL MARKETS DAY 202563 CAPEX EXPECTED TO INCREASE AS WE EXPAND OUR REACH + c.€40m c.€200m on average p.a Upgrade tech & operations tools & process IT (excl. Web) >200 stores transformation & upgrade +150 stores opening STORES (excl. Web) Enhanced logistics & Services and operations Online expansion OTHERS (Web, Logistics,...) c.€160m
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FREE CASH FLOW GENERATION INCREASING THROUGHOUT THE PLAN WCR Income tax >€1.2bn Optimized 30% on average 64 >1.2bn Cumulative FCF over 2025-20301 2030 ROC margin increase CAPEX c.€200m on average per year >3% by 2030 CAPITAL MARKETS DAY 2025| 1 Free cash flow from operations excluding IFRS 16
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DISCIPLINED APPROACH TO CAPITAL ALLOCATION 65 Financial resilience and effective balance sheet TARGETED LEVERAGE RATIO2 of 1.5x STRONG LIQUIDITY HEADROOM Reinvest in the business INCREASE CAPEX €200m pa on average over 2025-2030 Return to shareholders BOOST DIVIDEND ≥40% Payout ratio Dividend per share floor €1 p.a PARTNERSHIPS AND M&A to support strategy SPECIAL DIVIDEND Additional opportunistic decisions >1.2bn CUMULATIVE FCF1 over 2025-2030 CAPITAL MARKETS DAY 2025| 1 Free cash flow from operations excluding IFRS 16 2 Leverage ratio = net debt/EBITDA (IFRS 16, year-end)
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DASHBOARD BY 2030 Operational key figures OUTPERFORM MARKET c.4M Subscribers >80% of subscribers within B2C Services margin 2% Share of Retail media in total Group’s sales >50% Of GMV with loyal members +150 Store openings (net of closures) >200 Store upgrade Financial and non-financial ambitions >3% ROC MARGIN >€1.2bn CUMULATIVE FCF 2025-20301 €200m p.a. Average CAPEX 2025-2030 c.1.5x targeted Leverage ratio >40% Payout ratio €1 per share Yearly dividend floor 5% Employee shareholding -50% Carbon emissions vs 20192 66 CAPITAL MARKETS DAY 2025| 1 Free cash flow from operations excluding IFRS 16 2 Group
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WRAP-UP
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A commerce that matters for our customers for the Fnac Darty talents for our partners for our shareholders for the planet for the people CAPITAL MARKETS DAY 202568
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QUESTIONS & ANSWERS
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DISCLAIMER IMPORTANT NOTICE: By reading this presentation, you agree to be bound by the following limitations and qualifications: certain information incl uded in this release is not based on historical facts but on forward-looking statements. Such forward looking statements speak only as of the date of this presentation and Fnac Darty expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation to reflect any change in expectations or any change in events, conditions or circumstances (or otherwise) on which these forw ard-looking statements are based. Such forward looking statements are for illustrative purposes only. Investors are cautioned that forward-looking information and statements do not guarantee future performance and are subject to various known and unknown risks and uncertainties and o ther factors, many of which are difficult to predict and generally beyond the control of Fnac Darty, and could cause actual results to differ materially from those expressed in, or implied or projected by, such forward-looking information and statements. These risks and uncertainties include those discussed or identified in Chapter 5 “Risk factors and internal control” of the Fnac Darty 2024 Universal registration document which has been registered with the French Autorité des marchés financiers ("AMF") on March 10, 2025, and which is available in French and in English on the AMF's website at www.amf - france.org and on Fnac Darty’s website at www.fnacdarty.com. This material was prepared solely for informational purposes and does not constitute and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in the United States of America or any other jurisdiction. Likewise it does not give and should not be treated as giving investment advice. It does not reflect in any way the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions expressed in this material are subject to change without notice. This material is being furnished to you solely for your information, and it may not be reproduced, redistributed or published (whether internally or externally to your company), directly or indirectly, in whole or in part, to any other person. Failure to comply with these restrictions may result in the violation of legal restrictions in some jurisdictions. The distribution of, or the access to, this release in certain jurisdictions may be subject to legal or regulatory restrictions. Accordingly, any persons coming into possession of this document are required to inform themselves about and to observe any such restrictions. Fnac Darty expressly disclaims any liability as to the violation of such restrictions by any person. CAPITAL MARKETS DAY 202570