Page 1

Q4 2020 Earnings Firmly on track to achieve our 2023 goals $ 1.7B + 24 % Total revenue Revenue growth Adjusted EPS¹ $ 2.58 / + 13 % Full year revenue of $ 4.4B , up 11 % " I'm proud of how we navigated this past year and delivered for our employees , guests and shareholders . Our continued growth demonstrates the strength of lululemon before , during and as the pandemic subsides . We are still in the early innings of our growth , fueled by exciting innovations that create even more opportunity into the future . All of us on the leadership team have so much gratitude for our teams and their agility during these unprecedented times . " Calvin McDonald , CEO , lululemon Please refer to our fourth quarter earnings release which is available at http://investorlululemon.com/and to our Report on Form 10 - K filed with the SEC on March 30 , 2021 which is available at www.sec.gov ' Non - GAAP measures These metrics are non - GAAP financial measures and are not intended to be considered in isolation or as a substitute to the financial information prepared and presented in accordance with GAAP . A reconciliation of these non - GAAP financial measures to their most directly comparable GAAP measure follows Constant dollar changes in revenue The below changes show the change compared to Q4 2019 . 042020 Combined Comp Sales GAAPsales incas Adjustments due to fordign exchange rate changes Increase in constant dollars 21 % ( 1 ) 20 % Power of Three Digital Revenue 94 % ( 2 ) 92 % Product Innovation Women's revenue + 19 % Men's revenue + 17 % Nearly 1 - point US retailer market share gain in fiscal year . * Omni Guest Experience Combined comp sales¹ Digital revenue¹ Leveraged our omni capabilities including virtual waitlist , appointment shopping , and digital educator . Market Expansion International revenue lululeman.com This infographic contains " forward - looking statements , which are based on our current expectations , but they involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated . These risks and uncertainties indude ( but are not limited to ) our ability to maintain the value and reputation of our brand , the current COVID - 19 coronavirus pandemic and related government , private sector , and individual consumer responsive actions our highly competitive market and increasing competition , increasing product costs and decreasing selling prices our ability to anticipate consumer preferences and successfully develop and introduce new , innovative and updated products , our ability to accurately forecast guest demand for our products changes in consumer shopping preferences and shifts in distribution channels , our ability to expand internationally in light of our limited operating experience and limited brand recognition in new international markets , our ability to realize the potential benefits and synergies sought with the acquisition of MIRROR ; our ability to manage our growth and the increased complexity of our business effectively our ability to successfully opan new store locations in a timely manner ; seasonality ; our rdiance on and limited control over third - party suppliers to provide fabrics for and to produce our products the operations of many of our suppliers are subject to international and other risks , suppliers or manufacturers not complying with our Vendor Code of Ethics or applicable laws , our ability to deliver our products to the market and to meet guest expectations if we have problems with our distribution system ; increasing labor costs and other factors associated with the production of our products in South Asia and South East Asia ; our ability to safeguard against security breaches with respect to our information technology systems , any material disruption of our information systems , our ability to have technology - based systems function effectivdy and grow our e - commerce business globally climate change andrdated legislative and regulatory responses increased scrutiny regarding our environmental , social , and governance , or sustainability responsibilities an economic recession , depression , or downturn or economic uncertainty in our key markets ; global economic and political conditions and global events such as health pandemics ; our ability to source and sell our marchandise profitably or at all if now trade restrictions are imposed or existing trade restrictions become more burdensome ; changes in tax laws or unanticipated tax liabilities ; our ability to comply with trade and other regulations fluctuations in foreign currency exchange rates ; imitation by our competitors , our ability to protect our intellectual property rights , conflicting trademarks and the prevention of sale of certain products , our exposure to various types of litigation , and other risks and uncertainties included in our most recent report on Form 10 - K filed with the SEC . weile ♫ + 47 % + 21 % North American revenue Opened 6 net new stores ending Q4 with 521 stores . GAAP masure Acquisition - rated compensation Adjusted non - GAAP masure + 20 % + 92 % Diuted EPS ( S ) $ 2.52 0.06 $ 2,58 The sweatlife SANLITUN Adjusted financial measures Adjusted ca mings por share excludes transaction and integration costs , and certain acquisition - related compensation costs , incurred in connection with the acquisition of MIRROR , and the related income tax effects of these toma 042020 % increase v Q4 2019 11 % 2 % 13 % The NPD Group / Consumer Tracking Service / US . Adult Activewear market - retailer market share gain over the course of the fiscal year ( Feb 2020 - Jan 2021