Earnings release
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1 - - - - Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement/ make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. PRADA Group PRADA S.p.A. (Stock Code: 1913) ANNOUNCEMENT OF UNAUDITED REVENUES FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 Prada Group reported net revenues of Euro 4,070 million, up by 9% yoy at constant exchange rates; Retail net sales increased by 9% yoy at constant exchange rates; Prada retail net sales decreased by 2% yoy and Miu Miu retail net sales increased by 41 % yoy, at constant exchange rates; Retail net sales grew in all regions at constant exchange rates on the same period of 2024: Middle East +21 %, Americas+ 15%, Asia Pacific+ 10%, Europe +6%, and Japan +3%.
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2 Unaudited revenues for the nine months ended September 30,2025 The Board of Directors (the "Board") of Prada S. p.A. (the "Company") announces the unaudited revenues of the Company and its subsidiaries (collectively, the "Group") for the nine months ended September 30, 2025, together with the unaudited comparative figures for the same nine-month period ended September 30, 2024. The following financial information has been prepared in accordance with the International Financial Reporting Standards ("IFRS") as adopted by the European Union. Analysis of net revenues nine months nine months % ended ended change (amounts in thousands of Euro) September 30 September 30 2025 2024 as (unaudited) (unaudited) reported exc. rates (*) Net revenues Retail net sales (Directly Operated 3,646,527 89.6% 3,424,739 89.4% 6.5% 9.3% Stores and e-commerce) Wholesale net sales (independent 322,329 7.9% 313,851 8.2% 2.7% 4.4% customers and franchisees) Royalties 100,884 2.5% 90,548 2.4% 11 .4% 11.4% Total net revenues 4,069,740 100% 3,829,138 100% 6.3% 8.9% Retail net sales by brand Prada 2,428 ,359 66.6% 2,533,606 74.0% -4.2% -1.6% Miu Miu 1,178,237 32.3% 854,339 24.9% 37.9% 41.4% Church's 22,823 0.6% 21,513 0.6% 6.1% 6.0% Other brands 17,108 0.5% 15,281 0.4% 11.9% 12.2% Total retail net sales 3,646,527 100% 3,424,739 100% 6.5% 9.3% Retail net sales by geograghic area Asia Pacific 1,216,493 33.4% 1,139,067 33.3% 6.8% 10.4% Europe 1,137,093 31.2% 1,089,344 31.8% 4.4% 6.3% Americas 636,754 17.5% 575,567 16.8% 10.6% 14.8% Japan 474 ,160 13.0% 466,361 13.6% 1.7% 2.6% Middle East 182,027 5.0% 154,400 4.5% 17.9% 21.1 % Total retail net sales 3,646,527 100% 3,424,739 100% 6.5% 9.3% (*) calculated excluding the effect of the hyperinflation in Turkey Q3-25 VS Q3-24 % change constant exc. rates (*) 7.6% 18.9% 14.4% 8.5% -0.8% 28.6% 10.2% 16.9% 7.6% 10.4% 2.2% 19.9% -0.8% 9.8% 7.6%
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3 Management discussion and analysis of the revenues for the nine-month period ended September 30, 2025 (all changes are at constant exchange rates, unless otherwise stated) Prada Group reported net revenues of Euro 4,069.7 million for the nine months ended September 30, 2025, up by 8.9% compared to the same period of 2024. Exchange rate fluctuations reduced growth by 2.6%, resulting in reported growth of 6.3%. Retail net sales increased by 9.3% over the period, driven by like-for-like, full price sales, with growth across all regions. As of September 30, 2025, retail net sales represented 89.6% of total net revenues. Wholesale channel sales rose by 4.4% compared to the same period of 2024, mainly driven by the duty free channel, in line with the Group continued selective strategy on independent wholesalers. Royalty income grew by 11 .4% on the same period of 2024, a performance supported by both eyewear and beauty contribution. Brands Prada retail net sales decreased by 1.6% showing good resilience, with an improvement in the third quarter supported by all key regions. Miu Miu retail net sales progressed on a healthy growth trajectory (+41 .4% year on year) across all regions and categories, with a solid performance in the third quarter in further moderation against exceptional comps. During the nine-month period Church's retail net sales increased by 6.0% year on year. Net revenues by brand amounted to Euro 2,713.2 million for Prada, Euro 1,311.1 million for Miu Miu, Euro 27.2 million for Church's, and Euro 18.2 million for the other brands. Markets In Asia Pacific, retail net sales registered double-digit growth (+10.4%), with some improvement in trends in Mainland China over the quarter. In Europe, retail net sales reported a positive performance (+6.3%); the third quarter was broadly in line with the second quarter with local demand holding up well and softer tourism. In the Americas, retail net sales rose by 14.8%, a good progression with the third quarter in sequential acceleration. Japan retail net sales rose by 2.6% against exceptional high tourism in 2024, particularly in the first half of the year, with an improvement in the third quarter driven by both solid local and increased tourist demand. Middle East retail net sales delivered a solid performance (+21. 1 %), with the third quarter in moderation on high comps.
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4 *** *** *** The above information is based on the Board's preliminary review of the internal data currently available and gathered by the Company only and is not intended to be a comprehensive statement of the Prada Group's financial or operational results. The said information and data have not been audited or reviewed by the Company's auditors and may be subject to change and adjustment. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company and should not rely solely on such information. Milan (Italy), October 23, 2025 By Order of the Board Prada S.p.A. Mr. Paolo Zannoni Executive Deputy Chairman As at the date of this announcement, the Company's executive directors are Mr. Patrizio BERTELLI, Mr. Paolo ZANNONI, Ms. Miuccia PRADA BIANCHI, Mr. Andrea GUERRA, Mr. Andrea BONINI and Mr. Lorenzo BERTELLI; and the Company's independent non-executive directors are Mr. Yael ZAOUI, Ms. Ilaria RESTA, Ms. Cristiano RUELLA Ms. Pamela Yvonne CULPEPPER and Ms. Anna Maria RUGARLI.