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2026 H1 RESULTS JULY 28TH, 2026
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2026 H1 RESULTS PUBLICATION DISCLAIMER 2 Certain information contained in this presentation includes projections and forecasts. These projections and forecasts are based on SMCP management's current views and assumptions. Such forward-looking statements are not guarantees of future performance of the Group. Actual results or performances may differ materially from those in such projections and forecasts as a result of numerous factors, risks and uncertainties. These risks and uncertainties include those discussed or identified under Chapter 2 “Risk factors and Internal Control” of the Company’s Universal Registration Document filed with the French Financial Markets Authority (Autorité des Marchés Financiers - AMF) on April 9, 2026, and available on SMCP's website (www.smcp.com). This presentation has not been independently verified. SMCP makes no representation or undertaking as to the accuracy or completeness of such information. None of the SMCP or any of its affiliate’s representatives shall bear any liability (in negligence or otherwise) for any loss arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.
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3 ISABELLE GUICHOT CEO 2026 H1 RESULTS PUBLICATION
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2026 H1 RESULTS PUBLICATION SOLID STRATEGIC EXECUTION DELIVERING PROFITABLE GROWTH 4 Positive topline growth In a challenging environment, under a disciplined full-price strategy Profitability consistently improving Sound financial structure Continued focus on cash, costs management and deleveraging 2026 GUIDANCE CONFIRMED c.10% adjusted EBIT margin in H2 | €50M FY Free Cash -Flow Demonstrating the success of our margin improvement strategy and the efficiency of recent profitability initiatives
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2026 H1 RESULTS PUBLICATION 5 POSITIVE H1 SALES GROWTH SUPPORTED BY STRONGER Q2 MOMENTUM • H1 positive organic growth in America, EMEA and APAC • Improving sales momentum in Q2 across all regions, driven by like-for-like • Lower discount rates demonstrate the pricing power of our brands • Network stabilization in Q2 supported by the development through partners €597M OF SALES +0.6% ORGANIC +1.6% LFL 1,589 POS +2 POS IN Q2 2 POINTS REDUCTION IN DISCOUNT RATE VS H1 2025 €287m Q1 26 €310m +2.0% Q2 26 -0.8% -0.9% +3.9%LFL Organic Growth (at constant currency & scope) vs previous year Organic sales evolution by quarter vs 2025
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601 604 597 2025 H1 Comparable Network Evolution Wholesale 2026 H1 excl FX FX impact 2026 H1 * 2026 H1 RESULTS PUBLICATION LIKE-FOR-LIKE AND WHOLESALE MITIGATING NETWORK EVOLUTION AND FX IMPACT 6 LFL +1.6% Organic +0.6% Contribution to growth -1.9%+1.5% +0.9% -1.2% in M€ * Mostly BHV-SGM and Saks +9.1 +5.7 -11.4 -7.5
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2026 H1 RESULTS PUBLICATION 7 France 31% EMEA 37% America 16% APAC 16% By region Sandro 50% Maje 39% Other brands 11% By Brand Retail 88% Wholesale 12% By channel PERFORMANCE DRIVEN BY AMERICA AND EMEA, APAC CONFIRMING RETURN TO GROWTH Sales breakdown H1 sales variation -11% France +11% America +7% EMEA +2% APAC -5% +10% +4% +3% ORGANIC LFL
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2026 H1 RESULTS PUBLICATION 8 A STRONG SEMESTER FOR ALL KEY INDICATORS, SUPPORTED BY CONSTANT DISCIPLINE 76% +1.7 pts vs H1- 25 Management gross margin ratio at an outstanding level 8.9% +1.8 pts vs H1- 25 Adjusted EBIT margin reflecting continued improvement On track for H2 -26 target +52% vs H1 -25 Net income strongly increasing, mainly from EBIT progression 1.1x Net debt down -€61M vs H1 -25 Financial leverage reaching record -low level
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2026 H1 RESULTS PUBLICATION CSR - FOUR CERTIFICATIONS TO HELP OUR CUSTOMERS TO MAKE MORE CONSCIOUS CHOICES 9 SMCP PRODUCT PLANET PEOPLE Global Recycled Standard Responsible Wool Standard Organic Content Standard Global Organic Textile Standard CERTIFIED PIECES ACROSS OUR FOUR BRANDS
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2026 H1 RESULTS PUBLICATION BRAND DESIRABILITY – SANDRO INITIATIVES 10 Flagship reopening in Paris Francs-Bourgeois Prix Maison Mode Méditerranée Textile, Savoir-faire et Artisanat
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2026 H1 RESULTS PUBLICATION BRAND DESIRABILITY – MAJE X BLANCA MIRO 11
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2026 H1 RESULTS PUBLICATION BRAND DESIRABILITY - increasingly elevated KOL strategy 12 Diane KrugerPoppy Delevingne Scott SpeedmanChris Pratt
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2026 H1 RESULTS PUBLICATION BRAND DESIRABILITY 13 Claudie FW26 collection animation Fursac KOL Caetana Botelho Afonso & Rita Montezuma Paco LeonCesar de Rummel
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14 PATRICIA HUYGHUES DESPOINTES CFO 2026 H1 RESULTS PUBLICATION
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2026 H1 RESULTS PUBLICATION IMPROVING TREND IN Q2 IN FRANCE AND STRONG PERFORMANCE IN EMEA 15 FRANCE €185m -10.8% organic -4.6% LFL EMEA €218m +7.0% organic +3.9% LFL Organic Growth (at constant currency & scope) vs previous year, unless otherwise stated 2026 sales by quarter 2026 sales by quarter Q2 €96m -9% Q2 €115m Organic LFL -2% +9%Organic LFL +6% Q1 €89m -13% -7% Q1 €103m +5% +1% • H1 2026 sales down by -10.8% vs last year with an improvement in Q2 vs Q1 • H1 revenue impacted by weak consumer demand, especially in provincial stores, a negative perimeter effect, and limited liquidation activities compared to 2025 • Q2 like-for-like sales improving vs Q1 trend, in line with market indices • Continued full-price strategy with a two-point reduction in average discount rate • Network -9 POS in Q2, mainly due to less profitable store closures • H1 2026 sales increase by +7.0% vs last year, with strong like-for-like performance • Positive like-for-like in nearly all retail markets, driven by Southern Europe and Germany • Continued solid momentum on Retail partners activity, notably in Eastern Europe; resilient performance in the Middle East • Network +13 POS in Q2, well balanced between Retail (+6) and Partners (+7)
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2026 H1 RESULTS PUBLICATION CONTINUED MOMENTUM IN AMERICA AND CONFIRMATION OF THE DYNAMIC IN APAC 16 APAC €97m +1.9% organic +3.3% LFL AMERICA €98m +11.0% organic +10.1% LFL 2026 sales by quarter 2026 sales by quarter Q2 €53m Q2 €45m +10%Organic LFL +13% +1%Organic LFL +4% Organic Growth (at constant currency & scope) vs previous year, unless otherwise stated Q1 €44m Q1 €51m +12% +7% +3% +3% • Strong H1 2026 sales increase (+11.0%), driven by good momentum at both Sandro and Maje • US retail sales growth in Q2 supported by healthy like-for-like performance across both volume and pricing • Canada growing double-digit in both B&M and Digital • Wholesale continues to support growth, with successful development in Mexico and South America • Network +3 POS in Q2 • H1 2026 sales up +1.9% vs last year, driven by like-for-like performance • Most of directly-operated countries grow on a LFL basis • In Greater China, positive like-for-like sales in B&M and digital in a context of strict full-price strategy (-4 points of average discount rate), supporting brand desirability • Resilient trends in the rest of Asia, with strong growth in Malaysia, Thailand and Vietnam • Network -5 POS in Q2
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H1-24 H2-24 H1-25 H2-25 H1-26 H2-26 CONTINUED PROFITABILITY IMPROVEMENT TOWARD H2 2026 TARGET 19 34 43 53 3.2% 5.5% 7.1% 8.9% 8.5% 53 Target c.10% €53.2M ADJUSTED EBIT H1 -26 8.9% OF SALES +25% VS H1 -25 Adjusted EBIT trajectory - in €m and % of sales Steady climb to the c.10% target in H2 – H1 up by €34M and 5.7 pp margin in 2 years 2026 H1 RESULTS PUBLICATION 17+€34m +1.8 pts
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2026 H1 RESULTS PUBLICATION NET INCOME IMPROVES BY +52%, DRIVEN BY INCREASED OPERATING PROFIT 18 In €m H1-25 H1-26 Variance Adjusted EBIT 42.6 53.2 +25% LTIP -1.8 -2.8 +56% EBIT 40.8 50.4 +24% Non-recurring -8.2 -11.0 +34% Financial result -15.1 -12.9 -15% Profit before tax 17.5 26.5 +52% Income tax -6.5 -9.7 +50% Net Result 11.0 16.8 +52% • Higher LTIP cost from better performance • Non-recurring expenses include impairment of stores and goodwill, with no impact on cash • Decrease of financial expenses from lower level of net debt; excluding IFRS 16, net financial expenses decrease by 33% • Net result progression of €5.8m vs LY Highlights
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CONTINUED DELEVERAGING REACHING A RECORD RATIO 19 Free Cash -flow generation of €3.5M in H1-26 • Inventories and Capex stabilization vs H1-25 • Compared to last year, Working Capital showing a temporary timing difference between H1 and H2; this has no impact on full-year 2026 FCF target of €50m Lowest leverage ratio ever, from 1.9x one year ago to 1.1x now • Driven by EBITDA growing by +6% and Net debt decreasing by –30% Secured financing profile • Term Loan and RCF extended by one year until May 2028 • Substantial liquidity headroom of more than €150m (RCF/overdrafts) Highlights Net debt In €m Net debt / adj. EBITDA leverage ratio, excl. IFRS Dec 31, 2025 148 1.3x June 30, 2025 206 1.9x June 30, 2026 145 1.1x 2026 H1 RESULTS PUBLICATION Dec 31, 2024 237 2.6x June 30, 2024 293 3.1x -51%
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CONCLUSION 202026 H1 RESULTS PUBLICATION Positive H1 sales momentum and strong margin and profitability improvements 1 2 3 4 Enhanced business model supported by brand’s desirability, pricing power and disciplined execution Continued focus on value creation through operational efficiency and cash generation 2026 guidance confirmed
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2026 H1 RESULTS JULY 28TH, 2026 Q&A
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22 APPENDIX 2026 H1 RESULTS PUBLICATION
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2026 H1 RESULTS PUBLICATION FINANCIAL AGENDA Next financial publication OCTOBER 22ND, 2026 2026 Q3 Sales FEBRUARY 2027 2026 FY Results 23
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2026 H1 RESULTS PUBLICATION QUARTERLY NET SALES BY REGION AND BY BRAND Organic sales growth: at constant currency & scope Other brands: Claudie Pierlot and Fursac 24 In €m Q1-25 Q1-26 Reported % Organic % Q2-25 Q2-26 Reported % Organic % H1-25 H1-26 Reported % Organic % France 102,1 88,8 -13,0% -13,0% 104,9 95,9 -8,6% -8,6% 207,0 184,8 -10,8% -10,8% EMEA 98,0 102,6 +4,7% +4,9% 106,0 115,4 +8,9% +9,0% 204,0 218,0 +6,9% +7,0% America 43,9 44,4 +1,3% +11,7% 49,6 53,2 +7,2% +10,4% 93,5 97,7 +4,5% +11,0% APAC 52,7 51,3 -2,6% +2,6% 43,9 45,2 +3,0% +1,1% 96,6 96,6 -0,0% +1,9% Total 296,6 287,2 -3,2% -0,8% 304,5 309,8 +1,8% +2,0% 601,1 597,0 -0,7% +0,6% Sandro 147,5 141,6 -4,0% -1,4% 154,7 158,1 +2,2% +2,6% 302,2 299,6 -0,9% +0,7% Maje 110,7 113,0 +2,1% +5,0% 113,6 119,6 +5,3% +5,5% 224,3 232,6 +3,7% +5,2% Other brands 38,4 32,6 -15,1% -15,1% 36,2 32,1 -11,2% -11,2% 74,6 64,7 -13,2% -13,2% Total 296,6 287,2 -3,2% -0,8% 304,5 309,8 +1,8% +2,0% 601,1 597,0 -0,7% +0,6%
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BREAKDOWN OF POS Directly operated stores Total points of sales 2026 H1 RESULTS PUBLICATION Number of DOS H1-25 2025 Q1-26 H1-26 Var H1 26 vs Q1 26 Var H1 26 vs FY 25 Var H1 26 vs H1 25 By region France 457 424 423 414 -9 -10 -43 EMEA 394 396 394 400 +6 +4 +6 America 162 168 160 162 +2 -6 - APAC 242 239 226 218 -8 -21 -24 By brand Sandro 547 539 528 519 -9 -20 -28 Maje 456 453 441 438 -3 -15 -18 Claudie Pierlot 176 166 166 166 - - -10 Fursac 76 69 68 71 +3 +2 -5 Total DOS 1 255 1 227 1 203 1 194 -9 -33 -61 Number of POS H1-25 2025 Q1-26 H1-26 Var H1 26 vs Q1 26 Var H1 26 vs FY 25 Var H1 26 vs H1 25 By region France 457 424 423 414 -9 -10 -43 EMEA 555 565 565 578 +13 +13 +23 America 201 210 203 206 +3 -4 +5 APAC 429 431 396 391 -5 -40 -38- - By brand Sandro 749 746 726 719 -7 -27 -30 Maje 622 624 608 609 +1 -15 -13 Claudie Pierlot 193 184 178 183 +5 -1 -10 Fursac 78 76 75 78 +3 +2 - Total POS 1 642 1 630 1 587 1 589 +2 -41 -53 o/w Partners POS 387 403 384 395 +11 -8 +8 25
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26 (1) Including commissions (2) Gross margin corresponds to sales after deduction of cost of sales and commissions paid to the department stores and affiliates. The company uses and monitors as an operational KPI the gross margin before commissions. (3) Before LTIP impact Income statement In €m - IFRS HY 2025 HY 2026 variations Sales 601.1 597.0 -4.1 Purchases and changes in inventories1 -220.1 -202.3 +17.8 Gross Margin 2 381.0 394.7 +13.7 Other operating income and expenses -123.3 -127.0 -3.7 Personnel costs -145.7 -148.5 -2.8 Adjusted 3 EBITDA 112.0 119.2 +7.2 Depreciation and amortization expenses -69.4 -66.0 +3.4 Adjusted 3 EBIT 42.6 53.2 +10.6 Allocation of LTIP -1.8 -2.8 -1.0 EBIT 40.8 50.4 +9.6 Other non-recurring income and expenses -8.2 -11.0 -2.8 Operating profit 32.6 39.4 +6.8 Costs of net financial debt -14.7 -12.1 +2.6 Financial income and other financial expenses -0.4 -0.8 -0.4 Financial Result -15.1 -12.9 +2.2 Profit before tax 17.5 26.5 +9.0 Income tax -6.5 -9.7 -3.3 Net income 11.0 16.8 +5.8 2026 H1 RESULTS PUBLICATION
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27 Balance sheet – Assets (1/2) In €m - IFRS As of Jun. 30, 2025 As of Jun. 30, 2026 Goodwill 599.9 578.1 Trademarks, other intangible & right-of-use assets 1 089.3 1 053.6 Property, plant and equipment 66.5 65.6 Non-current financial assets 15.2 14.4 Deferred tax assets 25.7 26.4 Non-current assets 1 796.7 1 738.1 Inventories and work in progress 229.1 232.3 Accounts receivables 64.3 66.9 Other receivables 45.5 51.1 Cash and cash equivalents 43.7 41.4 Current assets 382.6 391.7 Total Assets 2 179.3 2 129.8 2026 H1 RESULTS PUBLICATION
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28 Balance sheet – Equity and liabilities (2/2) In €m - IFRS As of Jun. 30, 2025 As of Jun. 30, 2026 Share capital 86.2 86.2 Share premium 947.3 947.3 Reserves and retained earnings 137.8 164.0 Treasury shares -4.6 -3.5 Total Equity 1 166.7 1 194.0 Non-current lease liabilities 301.6 281.6 Non-current financial debt 92.2 57.7 Other financial liabilities 0.6 0.7 Provisions and other non-current liabilities 4.5 4.7 Net employee defined benefit liabilities 4.8 5.1 Deferred tax liabilities 164.1 163.7 Non-current liabilities 567.8 513.5 Trade and other payables 114.5 120.3 Current lease liabilities 93.3 87.1 Bank overdrafts and short-term financial borrowings and debt 156.5 127.6 Short term provisions 1.3 3.5 Other current liabilities 79.2 83.8 Current liabilities 444.8 422.3 Total Equity and Liabilities 2 179.3 2 129.8 2026 H1 RESULTS PUBLICATION
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29 Net financial debt and leverage In €m As of June 30, 2025 As of Dec. 31, 2025 As of June 30, 2026 Non current financial debt & other financial liabilities -92.8 -91.2 -58.4 Bank overdrafts and short-term financial liability -156.5 -103.7 -127.6 Cash and cash equivalents 43.7 47.4 41.4 Net financial debt -205.6 -147.5 -144.6 LTM adjusted EBITDA (excl. IFRS & IAS 38) 108.4 116.7 128.4 Net financial debt / adjusted EBITDA 1.9x 1.3x 1.1x 2026 H1 RESULTS PUBLICATION
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30 Net financial debt detail 2026 H1 RESULTS PUBLICATION In €m Jun 30 th, 2025 Dec 31 st, 2025 Jun 30 th, 2026 Term Loan 73 74 56 RCF (€155m) 35 - 25 State Guaranteed loans 81 80 33 Neu CP 30 30 48 Overdraft 24 6 19 Other Debt 6 5 5 Gross financial debt 249 195 186 Cash and cash equivalents 44 47 41 Net financial debt 206 148 145
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31 (1) Based on management accounts * Before LTIP impact Other indicators1 In €m HY 25 HY 26 Management Margin 446.8 453.9 % of sales 74.3% 76.0% Direct costs of points of sales -271.8 -264.6 % of sales -45.2% -44.3% Retail margin 175.0 189.3 % of sales 29.1% 31.7% SG&A -122.7 -125.8 % of sales -20.4% -21.1% IFRS 16 impacts on EBITDA 59.8 55.7 % of sales 9.9% 9.3% Adjusted EBITDA* 112.0 119.2 % of sales 18.6% 20.0% 2026 H1 RESULTS PUBLICATION
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32 Adj. EBITDA by brand (1) Before LTIP impact €m - IFRS HY-25 HY-26 var Adjusted 1 EBITDA 112.0 119.2 +7.2 Sandro 71.0 70.5 -0.5 Maje 45.1 53.5 +8.4 Other Brands -4.0 -4.8 -0.8 Adjusted 1 EBITDA margin 18.6% 20.0% + 1 . 4 poi nt Sandro 23.5% 23.5% - Maje 20.1% 23.0% +2.9 points Other Brands -5.4% -7.4% -2.0 points 2026 H1 RESULTS PUBLICATION
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33 Cash-flow statement In €m HY 25 HY 26 Net cash flow from operating activities 118.7 83.1 Net cash flow from investing activities -16.7 -19.9 Treasury shares purchase program -1.3 - Change in borrowings and debt -38.8 -22.9 Net interests paid -7.2 -4.3 Other financial income and expenses -0.3 -0.2 Reimbursement of rent lease -59.6 -55.7 Net cash flow from financing activities -107.2 -83.1 Net foreign exchange difference -1.7 0.5 Change in net cash -6.9 -19.5 2026 H1 RESULTS PUBLICATION
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34 Free cash-flow In €m HY-25 HY-26 Cash from operations before changes in working capital 110.8 118.6 Change in working capital 5.6 -33.8 Income tax 2.3 -1.7 Net cash flow from operating activities 118.7 83.1 Capital expenditure -16.7 -19.9 Reimbursement rent lease -59.6 -55.7 Interest & Other Financial -7.6 -4.5 Other & FX -1.7 0.5 Free cash -flow 33.1 3.5 2026 H1 RESULTS PUBLICATION
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35 Working capital €m HY-25 HY-26 Inventories and work in progress 229.1 232.3 Trade receivables 65.4 66.9 Trade payables excluding fixed asset suppliers -107.9 -113.5 Operational working capital 186.6 185.7 Other receivables 42.3 47.7 Other payables -72.8 -74.0 Working capital 156.1 159.4 Change in working capital 5.6 -33.8 2026 H1 RESULTS PUBLICATION