H1 2026
RESUL TS
UPDATE
ANALYST
PRESENTATION
AUGUST 03, 2026
2DISCLAIMER
This presentation contains forward -looking statements regarding future events and results of the Company that are based on the current expectations , projections and assumptions of the management of the Company.
The actual results may differ materially from those expressed in any forward -looking statement and the Company does not assume any liability with respect thereto .
This document has been prepared solely for this presentation and does not constitute any offer or invitation to sell or any solicitation to purchase any share in the Company.
The Manager in Charge of preparing the Company financial reports hereby certifies pursuant to paragraph 2 of art. 154- bis of Legislative Decree no. 58 of February 24, 1998, that the accounting disclosures of this document are consistent with the accounting documents , ledgers and entries.
3H1 2026
BUSINESS
UPDATE
4TWELVE MONTHS INTO IMPLEMENTATION , STRATEGIC
INITIATIVES GAINING TRACTION INAN UNCERTAINTY EXTERNAL
ENVIRONMENT
SOLID DTC PROGRESS INQ22026 WITH NETSALES +6.6%
ATCONSTANT FX,DRIVEN BY PRIMARY ,BETTER FULL /OFF PRICE
MIX,HIGHER CONVERSION RATE AND AVERAGE TICKET
STRENGTHENING BRAND FOUNDATIONS THROUGH PRODUCT
EFFECTIVENESS , RETAIL EXCELLENCE AND TARGETED
COMMUNICATION
SUPPORTING BRAND DESIRABILITY ,CUSTOMER ENGAGEMENT
AND SUSTAINABLE PERFORMANCE OVER TIME2026 | DTC Progress Supported by Consistent Strategic Execution
2026 | Balanced and Disciplined Product Offer
EVOLUTION OF ICONIC PRODUCT FAMILIES COMBINED WITH TARGETED NEW LAUNCHES
ENHANCED CATEGORY CONSISTENCY , INNOVATION AND CLIENT RELEVANCE TO SUPPORT PRODUCTIVITY OVER TIMESHARPENING PRODUCT ARCHITECTURE ACROSS COLLECTIONS
2026 | Supporting a Consistent and Engaging Brand Narrative
ADVANCING CINEMATIC , DIGITAL -FIRST STORYTELLING THROUGH “T HE FIRST IMPRESSION ” C AMPAIGN , ENSURING
CONSISTENT BRAND EXPRESSION ACROSS MARKETS AND TOUCHPOINTS
LEVERAGING BRAND ICONS AND HIGH -POTENTIAL CATEGORIES TO DRIVE CONSIDERATION AND PURCHASE INTENTPRODUCT -FOCUSED ACTIVATIONS , D RIVING VISIBILITY AND SUPPORTING GROWTH OF CORE CATEGORIES
2026 | Reinforcing Heritage Through Brand Storytelling
STRONGER CONNECTION BETWEEN FERRAGAMO ’SHERITAGE AND CRAFTSMANSHIP AND GLOBALLY RECOGNIZED PERSONALITIES
SHARED VALUES OF EXCELLENCE , RESILIENCE , PRECISION AND MASTERY SUPPORTING PRODUCT DESIRABILITY AND ICONIC
PRODUCT FAMILIESCELEBRATING FERRAGAMO ’STIMELESS APPEAL THROUGH AVALUE -DRIVEN NARRATIVE WITH “LEGENDS , R EIMAGINED ”
2026 | Strengthening the Hug Platform
EXPANDED APPEAL ACROSS CUSTOMER SEGMENTS AND OCCASIONS OF USE
EXPERIENTIAL ACTIVATIONS REINFORCING EMOTIONAL CONNECTION , VISIBILITY AND THE COLLECTION ’SARTISANAL
EXCELLENCE , INNOVATION AND ATTENTION TO DETAILBUILDING ON THE SUCCESS OF ONE OF FERRAGAMO ’SMOST RECOGNIZABLE ICONS
2026 | Celebrities in Ferragamo
MAXIMIZING ORGANIC MEDIA EXPOSURE
REINFORCING BRAND RELEVANCE AMONG GLOBAL AUDIENCESEVOLVING CELEBRITY ENGAGEMENT APPROACH
10OPTIMIZATION OF THE RETAIL FOOTPRINT FOCUSED ON
EXCELLENCE AND STORE PRODUCTIVITY
SELECTIVE WHOLESALE DISTRIBUTION SUPPORTING BRAND
EQUITY
CONTINUED OPERATIONAL DISCIPLINE THROUGH PROCESS
STREAMLINING AND ENHANCED ORGANIZATIONAL
EFFECTIVENESS ,SUPPORTING PROFITABILITY AND POSITIVE H1
EBIT
STRENGTHENED SENIOR MANAGEMENT TEAM TO SUPPORT
LONG TERM EXECUTION
ADVANCING KEY BUSINESS PROCESSES ,INCLUDING E-
COMMERCE RE-PLATFORMING ,MERCHANDISING ALLOCATION
ENHANCEMENTS AND TARGETED ACTIONS TO IMPROVE
PERFORMANCE ACROSS MARKETS2026 | Executing Operational Priorities While Building Future Capabilities
03/08/2026ESG ACHIEVEMENTS
CONFIDENTIAL
11RATINGS AND ACKNOWLEDGEMENTS
12PROGRESS ACHIEVED OVER THE PAST TWELVE MONTHS PROVIDES
INCREASING CONFIDENCE IN THE STRATEGIC DIRECTION
UNDERTAKEN , DESPITE CONTINUED MACROECONOMIC
UNCERTAINTY
INCREASING EMPHASIS ON DEVELOPING CAPABILITIES ,
PROCESSES AND FOUNDATIONS TO SUSTAIN LONG -TERM VALUE
CREATION AND BUSINESS GROWTH2026 | From Strategic Progress to Long- Term Value Creation
H1 2026
FINANCIAL
RESULSTS
13
Q22026 Consolidated Revenues at€259m, +4.6%atconst .FXand +2.4%atcurrent FXvs.
Q22025 ,with DTC* +6.6%atconst .FX, while WHL inline with last year .
H12026 Consolidated Revenues at€468m, +1.9%atconst .FXand -1.3%atcurrent FXvs.
H12025 ,with DTC* +6.1%atconst .FX, penalized bythe negative WHL channel .
Q22026 DTC* Net Sales +6.6%atconst .FX (+4.8%atcurrent FX) vs.Q22025 ,with all regions positive atconst .FX, mainly driven by primary DTC* .Online up double -digit vs.Q2 2025 ,with higher traffic, order number and value .
H12026 DTC* Net Sales +6.1%atconst .FX (+1.8%atcurrent FX) vs.H12025 ,with allthe regions positive atconst .FX, except Japan .
Q22026 WHL Net Sales +0.2%atconst .FX (-1.0%atcurrent FX) vs.Q22025.
H12026 WHL Net Sales -11.2%atconst .FX (-11.6%atcurrent FX) vs.H12025 ,reflecting a strengthened focus onselective distribution and strategic key accounts, consistent with the brand's positioning .
*DTC (Direct ToConsumer) channel consists ofdirectly operated mono -brand stores (DOS), aswell ase-commerce platforms ofdirect tocustomers online sales. 14357
(75%)105
(22%)12
(3%)
2025363
(78%)93
(20%)11(2%)
2026DTC *WHLSOTHER474468
-11.6% -11.2%
+1.8% +6.1%TOTAL NET SALESH1 2026 REVENUE BY DISTRIBUTION CHANNEL
+2.1%Curr FX Const FX -1.3%YOY var, %
TOTAL REVENUES
WHLS
DTC *
1. Other income includes: Hedging, licenses & other revenues, rental income investment properties 2. YoY var at Constant FX calculated only on licenses & other revenues and rental income investment properties components-3.5%2 -1.7%+1.9% -1.3%TOTAL REVENUES, €M 1
141
(31%)
129
(28%)
117
(25%)
36(7%)
40(9%)
2025155
(34%)
120
(26%)
106
(23%)
41(9%)
35(8%)
2026North America
APAC
EMEA
LATAM
Japan462 457
+11.8% +6.8%
-13.0% -1.0%+2.1%
-8.6% -9.0%TOTAL NET SALES, €MH1 2026 NET SALES BY REGION
-3.0% -6.4%+15.4% +9.7%Curr FX Const FX -1.3%YOY var, %Q22026 EMEA DTC* Net Sales uphigh- single digit, driven byprimary, with double -digit increases inconversion rate and average ticket .WHL down double -digit .Total Net Sales -1.3%vs.Q22025.
H12026 EMEA Total Net Sales -8.6%vs.H12025 ,with positive DTC* offset bydouble -digit negative WHL .
Q22026 North America DTC* Net Sales updouble -digit, driven byprimary and fullprice sales .Also, WHL updouble -
digit, driving Total Net Sales at+13.0%vs.Q22025 .H1 2026 North America Total Net Sales +15.4%vs.H12025 , with both DTC* and WHL up.
InQ22026 inLatin America both DTC* and WHL above last year, driving Total Net Sales at+6.5%vs.Q22025.
H12026 Latin America Total Net Sales +6.8%vs.H12025, driven byprimary DTC* .
Q22026 Asia Pacific DTC* Net Sales above last year, penalized bynegative WHL, which drove Total Net Sales at -0.6%vs.Q22025.
H12026 Asia Pacific Total Net Sales -3.0%vs.H12025, penalized bydouble -digit negative WHL .
Q22026 Japan Total Net Sales +2.8%vs.Q22025 ,driven byprimary DTC* .
H12026 Japan Total Net Sales -1.0%vs.H12025.
Note :alldata atconst .FX.
*DTC (Direct ToConsumer) channel consists ofdirectly operated mono -brand stores (DOS), aswell ase-commerce platforms ofdirect tocustomers online sales.
15
16202
(44%)
199
(43%)
34(7%)
27(6%)
2025207
(45%)
186
(41%)
36(8%)
28(6%)
2026Shoes
Leather Goods
& Handbags
Silk & Other accessories
RTW462 457
+1.8% +5.6%+2.1%
+7.8% +3.7%TOTAL NET SALES, €MH1 2026 NET SALES BY PRODUCT
-3.1% -6.6%+5.7% +2.7%Curr FX Const FX -1.3%YOY var, % Shoes +8.1%inQ2and +5.7%inH12026 , driven by the increasingly focused product offering and atargeted communication .
Leather Goods and Handbags -0.7%inQ2and -3.1%inH12026 ,due tonegative WHL, while DTC* upmid- single -digit inboth Q2and H1.
Silk &Other Accessories +9.0%inQ2and +7.8%inH12026, with both the DTC* and WHL positive .
Ready -to-Wear +7.9%inQ2and +5.6%inH1 2026 ,with positive DTC* more than offsetting negative WHL .
Note :alldata atconst .FX.
*DTC (Direct ToConsumer) channel consists ofdirectly operated mono -brand stores (DOS), aswell ase-commerce platforms ofdirect tocustomers online sales.
17H1 2026 P&L
DTC/WHL mix positive
FX negative
Gross MarginH12026 Gross Profit at€324 mvs.€321m inH1 2025, with incidence on Revenues at69.2%vs.
67.7%inH12025, reflecting animproved full-price mix and continued trading -uptrends..
H12026 Net Operating Costs -6.4%(-3.6%at const .FX) vs.H12025 adjusted operating costs (excluding the Impairment Test impact), reflecting ongoing processes optimization, organizational streamlining and disciplined cost management .
H12026 Operating Profit (EBIT) at€21 mvs.
negative €3madjusted (excluding the €41million negative cost component ofthe Impairment Test) in H12025.
H12026 Net Profit ,including the Minority Interest, at€1.5mvs.negative €16m adjusted (excluding the Impairment Test impact) inH12025.(Euro MM) 2026 % 2025 % Δ % Net Revenues 467.8 100.0% 473.9 100.0% -1.3% Cost of goods sold (143.9) -30.8% (153.1) -32.3% -6.0% Gross profit 323.9 69.2% 320.8 67.7% 0.9% Total operating costs (303.0) -64.8% (365.0) -77.0% -17.0%
EBIT 20.9 4.5% (44.1) -9.3% nm
Impairment - 0.0% (41.2) -8.7% nm EBIT w/o Impairment 20.9 4.5% (2.9) -0.6% nm Financial income (expenses) (4.9) -1.0% (10.3) -2.2% -52.6% Financial ROU (9.7) -2.1% (10.7) -2.3% -9.3% Profit before taxes 6.3 1.4% (65.2) -13.7% nm Income taxes (4.9) -1.0% 7.7 1.6% nm Net income 1.5 0.3% (57.5) -12.1% nm Group net income 1.4 0.3% (57.5) -12.1% nm Income to minorities 0.0 0.0 0.0 0.0% nm
EBITDA 89.6 19.2% 72.5 15.3% 23.5%June YTD
17
18H1 2026 BALANCE SHEET
Net Working Capital asofJune 30,2026 ,-
9.8%to€220 m,from €244 masofJune 30, 2025. Inparticular, Inventories -10.3%.
Asof30June 2026 ,Investments (CAPEX) at €18m vs.€16minH12025, mainly for the renovation ofthe retail network .
Net Financial Position adjusted* atJune 30, 2026 ,positive for €125, vs.€119 mpositive at June 30,2025 .Including IFRS 16 effect, Net Financial Position atJune 30,2026 ,negative for €421m, vs.€492m positive atJune 30,2025.
*Net Financial Position Adjusted isthe Net Financial Position excluding Current and non -current Lease Liabilities.(Euro MM) June 26 YTD June 25 YTD % Tangible assets 188.8 180.6 4.5% Intangible assets 31.2 34.9 -10.6% Right of Use 429.1 464.0 -7.5% Financial assets - -
Fixed assets 649.0 679.5 -4.5% Inventory 277.2 309.1 -10.3% Trade receivables 60.5 75.9 -20.3% Trade payables (117.8) (141.4) -16.7% Operating working capital 219.9 243.7 -9.8% Other assets (liabilities) 167.2 192.9 -13.3% Net Asset Disposal for Sales (0.0) 0.1 -100.0% Employee Benefit Liabilities (4.9) (5.6) -13.0% Provisions for risks and charges (22.8) (20.3) 12.4% Net invested capital 1,008.5 1,090.2 -7.5% Shareholders' equity (A) 587.5 598.0 -1.7% Group equity 586.3 596.8 -1.8% Minority interest 1.2 1.2 -0.5% Current financial liabilities (225.0) (206.6) 8.9% Non current financial liabilities (427.8) (495.8) -13.7% Cash & Cash equivalents 231.8 210.2 10.3% Net debt (B) (421.0) (492.3) -14.5% Financial sources (A-B) 1,008.5 1,090.2 -7.5%(Euro MM) June 26 YTD June 25 YTD % Net debt (B) (421.0) (492.3) -14.5% Non Current Lease Liabilities 427.8 495.8 -13.7% Current Lease Liabilities 117.7 115.8 1.6% Lease Liabilities 545.5 611.7 -10.8% Net debt Adjusted 124.5 119.4 4.3%
19DOS NETWORK @ 30.06.2026
52 (vs. 54)
NORTH AMERICA
32 (vs. 33)
CENTRAL &
LATIN AMERICA62 (vs. 64)
EMEA
150 (vs. 152)
ASIA PACIFIC53 (vs. 55)
JAPAN
349 (vs. 358 @ 31.12.2025)
DIRECTLY OPERATED STORES
H1 2026
Q&A 20
H1 2026
Q&A 20
ANNEX
H1 2026 REVENUE BY DISTRIBUTION CHANNEL
22*DTC (Direct ToConsumer) channel consists ofDOS and directly managed online boutique/e -commerce platforms .
22(Euro MM) 2026 2025 Δ %Δ % Const FXWeight on Tot 2026Weight on
Tot 2025
DTC * 363.3 357.0 1.8% 6.1% 77.7% 75.3%
Wholesale 93.2 105.4 -11.6% -11.2% 19.9% 22.2% Net Sales 456.5 462.4 -1.3% 2.1% 97.6% 97.6% Hedging 1.7 1.5 18.6% na 0.4% 0.3% Licences & Other Revenues 8.3 8.1 2.2% 2.2% 1.8% 1.7% Rental income 1.3 1.9 -34.0% -29.5% 0.3% 0.4% Total Net Revenues 467.8 473.9 -1.3% 1.9% 100.0% 100.0%June YTD