Slides
Page 1
FIRST QUARTER FY 2027 RESULTS NOVEMBER 4, 2026
Page 2
2 Soraya Benchikh, Chief Financial Officer Markus Strobel, Executive Chairman & Interim Chief Executive Officer INTRODUCTION
Page 3
SALES & SELL OUT TRENDS
Page 4
4 LFL SALES TRENDS CONTINUE TO IMPROVE, WITH 1Q27 LFL AHEAD OF GUIDANCE ➢ Coty LFL sales in 1Q27 of -1.6% show continued trend improvement vs. FY26 and broadly inline with 4Q26 LFL ➢ Upside vs. guidance of low-to-mid single-digit decline, fueled by stronger trends in U.S. and milder than expected declines in Middle East ➢ Sell-in and sell-out broadly aligned for both divisions -6% -4% -1.6% 1H26 2H26 1Q27
Page 5
‘BEAUTY INDEX’ REMAINS ROBUST AMIDST MACRO UNCERTAINTY Consumers looked for confidence and joy with beauty, as economic sentiment declines Source: Circana/ U.S. Prestige Beauty, Total Measured Market, Jan 2021 – Jun 2026 Monthly Dollar Sales Source: CivicScience 5
Page 6
6 Prestige source: Circana & Beaute Research (through September 2026; scope: EU5+NA+MEX+CHINA for fragrance, Germany & Spain Suncare, US & China Make-up, U.S. & China Skincare for both time periods) Top 6 Core Brands: Hugo Boss, Burberry, Calvin Klein, Marc Jacobs, Kylie Cosmetics, Chloé Mass source: Nielsen GTC B&M + 1P + Other Ecom (through September 2026) Top 4 Core Brands: CoverGirl, Rimmel, Sally Hansen, adidas CONTINUED RESILIENCE IN THE BEAUTY MARKET 5% 5% 2H26 1Q27 MASS BEAUTY MARKET COTY CB SELL-OUT -2% -3% -3% 2H26 1Q27 Total CB 1Q27 Top 4 PRESTIGE BEAUTY MARKET -1% -2% 1% 2H26 1Q27 Total Prestige 1Q27 Core Top 6 COTY PRESTIGE SELL - OUT 6% 3% 2H26 1Q27 5% 5% 2H26 1Q27 TOTAL FRAGRANCE
Page 7
1Q27 FINANCIAL RESULTS & GUIDANCE
Page 8
EXTENSIVE GLOBAL FINANCE & MANAGEMENT CAREER Various pivotal BAT and Diageo roles, • Finance and in General management • Across three continents Most recently Chief Financial Officer of BAT and President Europe at Diageo Proven track record of delivery Passion for transformative leadership Committed to fostering creative and empowered teams MY KEY PRIORITIES 1 Quality growth Market share gains through: • Focused and targeted investments 2 Productivity fueling higher reinvestment Simplification and right-sizing the cost base to fuel re-investment in A&CP 3 Enhanced cash returns Relentless focus on cash conversion CLEAR PRIORITIES. EMPOWERED TEAMS. LASTING VALUE 8
Page 9
NET REVENUE $1.56B -1.6% like-for-like ADJ. GROSS MARGIN 63.3% -120 basis points year-over-year FREE CASH FLOW $85M +$73M year-over-year 30.8% FCF conversion ADJ. EBITDA $274M -7% year-over-year NET DEBT $2.6B ~3.1x leverage exiting Q1 -$0.3B vs. exiting 4Q26 ADJ. EBITDA MARGIN 17.6% Consensus -3.5% Consensus $256MBEAT BEAT -120 basis points year-over-year Q1 RESULTS AHEAD OF EXPECTATIONS 9 Free Cash Flow (FCF) Conversion is calculated as free cash flow divided by adjusted EBITDA
Page 10
PRESTIGE $1.06B -1.0% like-for-like CONSUMER BEAUTY $0.50B -3.0% like-for-like DIRECTIONAL LFL NET REVENUE GROWTH BY REGION DIRECTIONAL LFL NET REVENUE GROWTH BY REGION 10 PRESTIGE LFL TRENDS AHEAD OF CONSUMER BEAUTY, EMEA EMEA AMERICAS AMERICAS ASIA PACIFIC ASIA PACIFIC
Page 11
-4% -3% -1% -6% -1% +5% H1 FY26 H2 FY26 Q1 FY27 Total Prestige LFL Growth Top 6 Core Brands LFL Growth INCREASINGLY FOCUSED A&CP INVESTMENT 64% 68% 76% H1 2026 H2 2026 Q1 FY27 % of A&CP invested in Top 6 Core Brands Top 6 Core Brands: Hugo Boss, Burberry, Calvin Klein, Marc Jacobs, Kylie Cosmetics, Chloé TOP 6 CORE BRANDS 73% OF Q1 PRESTIGE SALES 11 GROWTH IN 5 OUT OF 6 TOP CORE BRANDS PRESTIGE QUALITY GROWTH GROWTH THROUGH FOCUSED INVESTMENT ON 6 CORE BRANDS
Page 12
-8% -6% -3% -6% -3% -3% H1 FY26 H2 FY26 Q1 FY27 Total Consumer Beauty LFL Growth Top 4 Core Brands LFL Growth Top 4 Core Brands: CoverGirl, Rimmel, Sally Hansen, adidas TOP 4 CORE BRANDS 58% OF Q1 CONSUMER BEAUTY SALES INCREASINGLY FOCUSED A&CP INVESTMENT 64% 71% Q1 FY26 Q1 FY27 % invested in Top 4 Core Brands 12 CONSUMER BEAUTY LFL TRENDS SEQUENTIAL IMPROVEMENT VS. FY26
Page 13
13 DRIVERS Middle East Headwind: Impact from higher freight & materials costs Excess & Obsolescence (E&O): Reflecting elevated demand forecasts in the prior year ACTION PLANS & OUTLOOK Planning Process: Improving demand & supply planning process to improve E&O Middle East: At current oil prices, increased headwind to gross margins through remainder of FY27 ADJ. GROSS MARGIN 63.3% -120 basis points year-on-year GROSS MARGINS PRESSURED ACTIONS IN PLACE TO SUPPORT TREND STABILIZATION Mix: Increased volumes from Brazil
Page 14
14 ADJ EBITDA AND EPS AHEAD OF EXPECTATIONS, WITH IMPROVEMENT IN TRENDS YOY ADJ. EBITDA $274M -7% year-on-year -18% -15% -38% -26% -7% 1Q FY26 2Q FY26 3Q FY26 4Q FY26 1Q FY27 Quarterly EBITDA % Change ADJ. EPS, EXCLUDING EQUITY SWAP $0.15 FLAT year-on-year
Page 15
$(8) M $11 M $85 M Q1 FY25 Q1 FY26 Q1 FY27 15 (2%) 4% 31% Q1 FY25 Q1 FY26 Q1 FY27 Free Cash Flow Conversion CASH CONVERSION IMPROVED TO 31% DRIVEN BY WORKING CAPITAL IMPROVEMENT Free Cash Flow (FCF) Conversion is calculated as free cash flow divided by adjusted EBITDA IMPROVEMENT IN CASH CONVERSION WITH INCREASING FOCUS ON WORKING CAPITAL
Page 16
DELEVERAGING REMAINS TOP PRIORITY 16 ~$2.6B NET DEBT EXITING Q1 DOWN ~$0.3B SINCE JUNE ~3.1x LEVERAGE EXITING Q1 NET DEBT TO ADJUSTED EBITDA KEY PRIORITIES CONTINUING DELEVERAGING PATH REMAINS TOP PRIORITY REMAIN COMMITTED TO COMPLETING STRATEGIC REVIEW BY END OF CY26
Page 17
REVENUE LFL Low single-digit % decline; continued LFL growth in Top 6 core Prestige brands REPORTED REVENUES -LSD% impact from FX ADJ. EBITDA High single-digit % decline YoY ADJ. EPS (EXCL. SWAP) $0.16 to $0.18 FREE CASH FLOW >$300M in 1H FY27 17 2Q FY27 GUIDANCE
Page 18
Focus sell out on core brands & markets Right-sizing cost structure & footprint Increase FCF conversion Consistent Cash Release Sell-out driven revenue growth 1 Grow gross margin 2 Expand EBITDA 3 Grow FCF 4 De-Lever & Re-Invest 5 VIRTUOUS FLYWHEEL 18
Page 19
COTY.CURATED
Page 20
20 2020 COTY.CURATED SHARPER PRIORITIES FOCUSED INVESTMENTS THE MORE SUPPORTING THE CORE
Page 21
21 SHIFTING RESOURCES BEHIND TOP CORE BRANDS: Significant increase in % of A&CP funds allocated towards top core brands (+12% in Prestige; +7% in CB) SELL - OUT & MARKET SHARE FOCUS: Reinforcing organization-wide focus on sell- out and market share with updated FY27 incentive structure INNOVATION: Prestige 1HFY27 launches tracking ahead of target; fewer, more focused Consumer Beauty innovation improving profitability ADVOCACY & GENERATIVE ENGINE OPTIMIZATION: Signed a global partnership with Brandlight, GEO specialized partner, to boost AI visibility in LLMs; scope supports Prestige brands acceleration across 6 brands in 5 markets. ROI LENS: Focused investments driving improvement Prestige skincare profitability IMPLEMENTING COTY.CURATED FRAMEWORK
Page 22
22 CONSUMER BEAUTY 1H27 KEY LAUNCHES PROGRESS PRESTIGE FY27 TOP INNOVATION PRIORITIES FY27 INNOVATION STRATEGY: Fewer, larger, and more accretive launches, while supporting growth in the core • FY27 launches currently tracking ahead of plan • Innovation sales +LSD% in Q1 and coming at accretive gross margins FY27 INNOVATION STRATEGY: Smaller, more impactful innovation bundles, with platformed innovation behind brands • Lower returns & markdowns than in prior years • New mascara technology already being platformed (CoverGirl Showstopper / Rimmel Double Dare)
Page 23
23 PRESTIGE PILLARS: BURBERRY ➢ Total LFL brand sales grew +LSD% in Q1 supported by: • Makeup sales doubling YoY • Goddess Amber Vanilla, a Top 5 female launch, with Burberry Goddess fragrance up 1 rank in female fragrances ➢ Advocacy momentum accelerating: Burberry’s Prestige Fragrance category “Share of Influence” increased by +50 bps, with meaningful opportunity to further strengthen advocacy ➢ NEXT STEPS: Amplify fragrance & makeup in FY27 through significantly higher marketing investment, increased consumer engagement, and a new campaign for a core Burberry franchise Market share/sell-out/ranking source: Circana (L3M through September 2026, scope: EU5+NA+MEX) Share of Influence source: Traackr. Global Share of Influence represents a brand’s VIT as a percentage of the total VIT generated by all prestige fragrance brands in the tracked competitive set.
Page 24
➢ Hugo Boss fragrance LFL sales grew +LSD% in Q1, led by strong performance from the BOSS Bottled franchise, including Beyond Intense & Beyond for Her launches ➢ Back to market share growth in Q1 in Germany, the brand’s largest market ➢ Advocacy momentum accelerating: Hugo Boss’s “Share of Influence” increased by +100 bps ➢ NEXT STEPS: Focus investment on Hugo Boss’s core franchises, leveraging the halo from BOSS Bottled Beyond and Beyond for Her, while relaunching The Scent to appeal to Gen Z consumers 24 PRESTIGE PILLARS: HUGO BOSS Market share source: Circana (L3M through September 2026, scope: Germany) Share of Influence source: Traackr. Global Share of Influence represents a brand’s VIT as a percentage of the total VIT generated by all prestige fragrance brands in the tracked competitive set.
Page 25
25 ➢ Marc Jacobs license extended to 40-year license term ➢ Strong fragrance foundation, with Top 10 to 15 prestige female fragrance rankings across the U.S., U.K., Canada and Australia, and outstanding makeup debut ➢ Significant opportunities as we build Marc Jacobs into a multi- category beauty powerhouse COTY EXTENDS MARC JACOBS LICENSE, SECURING 40 - YEAR PARTNERSHIP
Page 26
26 ➢ Marc Jacobs makeup launched in ~600 Sephora doors across the U.S., U.K., Australia and Canada & online, with retail sales already exceeding targets ➢ Already a Top 20 makeup brand at Sephora U.K. & ANZ and Top 30 in Sephora U.S. ➢ Generating strong halo for fragrances PRESTIGE PILLARS: MARC JACOBS MAKEUP OFF TO VERY STRONG START Source: Retailer data
Page 27
27 ➢ Marc Jacobs fragrance LFL sales +DD% in Q1, driven by very strong growth in the Daisy franchise ➢ Advocacy momentum accelerating: Marc Jacobs’ “Share of Influence” increased by +90 bps ➢ NEXT STEPS: Continue to scale makeup through strong retailer execution, while building multi-category momentum through an advocacy-driven strategy Share of Influence source: Traackr. Global Share of Influence represents a brand’s VIT as a percentage of the total VIT generated by all prestige fragrance brands in the tracked competitive set. PRESTIGE PILLARS: MARC JACOBS FRAGRANCE
Page 28
➢ Sales growth in the CK franchise was supported by continued focus on CK One and growth in the new Euphoria franchise, while overall brand sales trends were moderately softer ➢ CK mists continue to rank #3 in Europe ➢ Advocacy momentum accelerating: Calvin Klein’s “Share of Influence” increased by +100 bps ➢ NEXT STEPS: Amplify the Euphoria Elixir launch and tap into renewed 1990s nostalgia with CK One, one of the era’s defining fragrances PRESTIGE PILLARS: CALVIN KLEIN 28 Market share source (mist ranking): Circana (L3M through September 2026, scope: EU5) Share of Influence source: Traackr. Global Share of Influence represents a brand’s VIT as a percentage of the total VIT generated by all prestige fragrance brands in the tracked competitive set.
Page 29
29 ➢ Total LFL brand sales grew +DD% in Q1 supported by: ▪ Fragrance sales +DD% ▪ Makeup sales +HSD% ➢ Market share gains in stores & online ➢ NEXT STEPS: Build on the Mood Stones by Kylie Jenner fragrance collection and new lip kit launches to strengthen Kylie’s position in fragrance and makeup PRESTIGE PILLARS: KYLIE COSMETICS Market share source: Circana (L3M through September 2026, scope: fragrances (EU5+NA+MEX), makeup (U.S.)
Page 30
30 PRESTIGE PILLARS: CHLOÉ ➢ Chloé fragrance LFL sales +LSD% in Q1 driven by very strong growth from Chloé Atelier des Fleurs ultra- premium collection ➢ NEXT STEPS: Build on Atelier des Fleurs’ momentum and strengthen the Signature franchise through increased marketing support in key markets
Page 31
31 4% 4% 4% -4% -3% -2% L52W L26W L13W Retail Sales - Value 1% 1.0% 3% -4% -2% 0% L52W L26W L13W Retail Sales - Units Category CoverGirl CONSUMER BEAUTY GREEN SHOOTS: COVERGIRL CLOSING GAP TO CATEGORY IN U.S. NIQ FVM (xAOC + AMZ 1P). Period ending Sept. 19, 2026. Mass brands only.
Page 32
32 5% 4% 3% 0% 3% 1% L52W L26W L13W Retail Sales - Value -1% -3% -4% 1% 3% 1% L52W L26W L13W Retail Sales - Units Nail Category Sally Hansen CONSUMER BEAUTY GREEN SHOOTS: SALLY HANSEN CLOSING GAP TO CATEGORY IN U.S. NIQ FVM (xAOC + AMZ 1P). Period ending Sept. 19, 2026. Mass brands only.
Page 33
33 CONSUMER BEAUTY GREEN SHOOTS: SALLY HANSEN GAINING SHARE & BACK AS THE #1 NAIL BRAND NIQ FVM (xAOC + AMZ 1P). Period ending Sept. 19, 2026. Mass brands only. 18.9% 18.7% 17.3% 16.3% 17.9% FY23 FY24 FY25 FY26 1Q27 Sally Hansen % share (Nail Color + Artificial Nail)
Page 34
34 1% 2% -3% -1% L12M L3M Retail Sales - Value -3% -2% -4% -1% L12M L3M Retail Sales - Units Category Rimmel CONSUMER BEAUTY GREEN SHOOTS: RIMMEL CLOSING GAP TO CATEGORY IN U.K. Nielsen UK Total Cosmetics through September 2026
Page 35
CONCLUSION
Page 36
37 STRONG FOUNDATION & CLEAR PRIORITIES, THOUGH RECOVERY WON’T BE LINEAR * Top 3 position in Prestige & Total Fragrances excluding Gucci brand; Source: Euromonitor 2025 STRATEGIC REVIEW Committed to completing the review by the end of CY26 ORGANIZATION FOR THE FUTURE Designing for Coty’s future Portfolio with significant savings Top 3 globally in Prestige & total fragrances* & mass color cosmetics ~3.1x leverage exiting Q1 +5% LFL in Q1, with continued growth expected in Q2 Top 6 Core Prestige Brands
Page 37
APPENDIX
Page 38
* Diluted adjusted EPS calculated under the “if-converted” method for the Convertible Preferred Stock Figures may not foot due to rounding ADJUSTED EPS DELIVERY Q1 ADJUSTED EBITDA 274 NET INTEREST (31) INCOME TAX (54) DILUTED SHARE COUNT 906M DILUTED ADJUSTED EPS * 0.16 OTHER 14 DEPRECIATION (54) ADJ PREFERRED DIVIDEND (3) DILUTED ADJ EPS EXCL. EQUITY SWAP 0.15 38
Page 39
Forward-Looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Coty's current views with respect to, among other things, strategic planning, targets and outlook for future reporting periods (including the extent and timing of revenue, expense and profit trends and changes in operating cash flows and cash flows from operating activities and investing activities, as well as Coty’s expectations for the impact of the exit from the Gucci Beauty license), Coty’s future operations and strategy (including the ongoing refinement and implementation and related impact of its global business strategies), Coty’s plans to evaluate its central organization, manufacturing and asset base, and certain market structures to adjust its scope and size for future business, Coty’s ongoing and future cost efficiency, optimization and restructuring initiatives and programs (including plans to develop a significant fixed-cost savings plan in connection with the exit from the Gucci Beauty license), the ongoing strategic review of Coty’s consumer beauty business, including its mass color cosmetics business and associated brands and Coty’s distinct Brazil business comprised of local Brazilian brands, the timing and outcome of such strategic review and any transactions related thereto, use of proceeds from any such transactions, expectations and/or plans with respect to joint ventures, the timing and size of any future distribution related to the Wella distribution rights, Coty’s capital allocation strategy and payment of dividends (including suspension of dividend payments and the duration thereof and any plans to resume cash dividends on common stock or to continue to pay dividends in cash on preferred stock) and expectations for stock repurchases or investments, plans and expectations with respect to licenses and/or portfolio changes, product launches, relaunches or rebranding (including the expected timing or impact thereof), plans for strengthening presence in certain categories, markets and channels, expectations for the impact, costs, timing and outcome of any future divestitures, expectations for synergies, savings, performance, cost, timing and integration of any future acquisitions, expectations for future cash flows, liquidity and borrowing capacity (including any refinancing or deleveraging activities), timing and size of cash outflows and debt deleveraging, the timing and magnitude of any “true-up” payments in connection with Coty’s forward repurchase contracts and plans for the settlement of such contracts, the timing and extent of any future impairments, and synergies, savings, impact, cost and timing of Coty’s ongoing refinement and implementation of its global business strategies (including operational and organizational structure changes, operational execution and simplification initiatives, fixed cost reduction plans, continued process improvements and supply chain changes), the expected impact of geopolitical risks including the ongoing war in Ukraine and/or war in the Middle East on Coty’s business operations, sales outlook and strategy, expectations regarding the impact of tariffs (including magnitude, scope and timing) and plans to manage such impact, expectations of the impact of inflationary pressures and the timing, magnitude and impact of pricing actions to offset inflationary costs, the expected impact of global supply chain challenges and/or inflationary pressures (including as a result of the war in Ukraine and/or the war in the Middle East (including the expected impact of elevated Brent crude oil prices), or due to a change in tariffs or trade policy impacting raw materials), and expectations regarding future service levels, inventory levels and excess and obsolescence trends (including as a result of Coty.Curated framework), the expected impact, cost, timing and implementation of e-commerce and digital initiatives, expectations regarding the expanded use of artificial intelligence (“AI”) and advanced analytics in Coty’s operations and the timing and impact thereof, the expected impact, cost, timing and implementation of sustainability initiatives (including progress, plans, goals and its ability to achieve sustainability targets), and the priorities of senior management. These forward-looking statements are generally identified by words or phrases, such as “anticipate”, “are going to”, “estimate”, “plan”, “project”, “expect”, “believe”, “intend”, “foresee”, “forecast”, “will”, “may”, “should”, “outlook”, “continue”, “temporary”, “target”, “aim”, “potential”, “goal” and similar words or phrases. These statements are based on certain assumptions and estimates that Coty considers reasonable, but are subject to a number of risks and uncertainties, many of which are beyond its control, which could cause actual events or results (including its financial condition, results of operations, cash flows and prospects) to differ materially from such statements. Such risks and uncertainties are identified in the periodic reports Coty has filed and may file with the Securities and Exchange Commission (the “SEC”) including, but not limited to: Coty’s ability to successfully implement its strategic priorities, achieve the benefits contemplated by its long-term objectives (including value creation, growth, profitability and debt deleveraging), and compete effectively in the beauty industry, in each case within the expected time frame or at all; the timing, costs and impacts of divestitures and the amount and use of proceeds from any such transactions; the integration of acquisitions with Coty’s business, operations, systems, financial data and culture and the ability to realize synergies, avoid future supply chain and other business disruptions, reduce costs and realize other potential efficiencies and benefits (including through its restructuring initiatives) at the levels and at the costs and within the time frames contemplated or at all; disruptions in the availability and distribution of raw materials and components needed to manufacture Coty's products or disruptions in the international flow of goods (including risks related to wars and tariffs); Coty’s ability to manage changing tariff scenarios and the success of its mitigation strategy, managerial, operational, regulatory, legal and financial risks, including diversion of management attention to and management of cash flows, expenses and costs associated with multiple ongoing and future strategic initiatives, internal reorganizations and restructuring activities, including its strategic agenda; any unanticipated problems, liabilities or integration or other challenges associated with a past or future acquired business, joint ventures or strategic partnerships which could result in increased risk or new, unanticipated or unknown liabilities, including with respect to environmental, competition and other regulatory, compliance or legal matters and litigation or investigations by governmental authorities; currency exchange rate volatility and currency devaluation and/or inflation, including the impact of elevated oil prices; changes in the demand for Coty’s products due to declining or depressed global or regional economic conditions, and declines in consumer confidence or spending; global political and/or economic uncertainties, disruptions or major regulatory or policy changes (including related to taxation and trade policies) and/or the enforcement thereof that affect Coty’s business, financial performance, operations or products, including the impact of the war in Ukraine and any escalation or expansion thereof, and the war in the Middle East and any escalation or expansion thereof; Coty’s ability to retain and attract key personnel; Coty’s ability to adapt its business to address climate change concerns and to respond to increasing governmental and regulatory measures relating to environmental, social and governance matters; and the impact of senior management transitions and organizational structure changes. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. More information about potential risks and uncertainties that could affect Coty’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Coty’s Annual Report on Form 10-K for the year ended June 30, 2026 and other periodic reports Coty has filed and may file with the SEC from time to time. All forward-looking statements made in this presentation are qualified by these cautionary statements. These forward-looking statements are made only as of the date of this presentation, and Coty does not undertake any obligation, other than as may be required by applicable law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. Non-GAAP Financial Measures In this presentation, Coty presents certain non-GAAP financial measures that we believe enable management and investors to analyze and compare the underlying business results from period to period, including constant currency, organic like-for-like (LFL) and adjusted metrics, adjusted operating income, adjusted operating income margin, adjusted gross margin, as well as adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA"), adjusted EPS, net debt or financial net debt, and free cash flow. Constant currency information compares results between periods as if exchange rates had remained constant period-over-period, with the current period’s results calculated at the prior-year period’s rates. The term “like-for-like” describes the Coty's core operating performance, excluding the financial impact of (i) acquired brands or businesses in the current year period until Coty has twelve months of comparable financial results, (ii) divested brands or businesses or early terminated brands , generally, in the prior year non- comparable periods, to maintain comparable financial results with the current fiscal year period and (iii) foreign currency exchange translations to the extent applicable. Adjusted metrics exclude nonrecurring items, purchase price accounting-related amortization, acquisition-related costs, restructuring costs, stock-based compensation, costs related to market exit, loss on early extinguishment of debt, asset impairment charges, and certain other information as noted within this presentation. Free cash flow is defined as net cash provided by operating activities, less capital expenditures, and “net debt” or “financial net debt” is defined as total debt less cash and cash equivalents. ”Adjusted operating income margin” and “adjusted EBITDA margin” are calculated by dividing Adjusted operating income and Adjusted EBITDA, respectively, by net revenues. These non-GAAP financial measures should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with GAAP. To the extent that Coty provides guidance, it does so only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for restructuring, integration and acquisition-related expenses, amortization expenses, adjustments to inventory, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant. Reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures are contained in the press release attached as Exhibit 99.1 to the Form 8-K filed with the SEC on November 4, 2026. Outlook Information In this presentation, Coty presents outlook information as of November 4, 2026. AI Transparency Certain background images in this presentation were enhanced using AI. DISCLAIMER 39