2016/17 Interim ResultsAnnouncement

Analyst Meeting Nov 17, 2016

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Key Financial Highlights - 1H 2016/17• Strong revenue growth driven

primarily by growth from existing and new licenses

• Total margin percentage continued to trend up mainly attributable to an improving business mix in favor of higher-margin businesses and sourcing optimization

• Operating costs increased due to investment in key brands and the addition of new licenses

• Adjusted net profit went up 344.2%

• Net profit was impacted by the difference in non-cash gain on remeasurement of contingent consideration payable as compared with last year

(US$m)

1H 2015/16

1H 2016/17 Change

Revenue 1,604 1,844 15.0%

Total Margin 547 655 19.9%% of Revenue 34.1% 35.5%

Operating Costs 513 578 12.6%

Core Operating Profit 34 78 129.9%% of Revenue 2.1% 4.2%

EBITDA (1) 124 179 44.0%

Net Profit for the Period 21 7 —

Net Profit Attributable to Shareholders 15 1 —% of Revenue 1.0% —

Adjusted Net Profit (2) Attributable to Shareholders 10 44 344.2%

(1) EBITDA is defined as net profit before net interest expenses, tax, depreciation and amortization. This also excludes share of results of joint ventures, material gains or losses which are of capital nature or non-operational related, acquisition related costs and non-cash gain on remeasurement of contingent consideration payable

(2) Adjusted Net Profit: Excluding merger & acquisition costs, non-cash items and non-operational expenses, such as gain on remeasurement of contingent consideration payable, amortization of other intangible assets, non-cash interest expenses and non-operational expenses

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(US$m) 1H 2015/16 1H 2016/17 Change

Core Operating Profit 34 78 129.9%

Gain on Remeasurement of Contingent Consideration Payable 44 5

Amortization of Other Intangible Assets (30) (35)

Other Non-core Operating Expenses (4) (6)

Operating Profit 44 41Interest Income 1 1

Non-cash Interest Expenses (5) (7)

Cash Interest Expenses (26) (32)

Share of Profits of Joint Ventures 2 3

Profit Before Taxation 16 7Taxation 5 —

Net Profit for the Period 21 7Non-Controlling Interest (6) (6)

Net Profit Attributable to Shareholders 15 1

Adjusted Net Profit(1) Attributable to Shareholders 10 44 344.2%

(1) Adjusted Net Profit: Excluding merger & acquisition costs, non-cash items and non-operational expenses, such as gain on remeasurement of contingent consideration payable, amortization of other intangible assets, non-cash interest expenses and non-operational expenses

Net Profit Analysis - 1H 2016/17

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Our Business Verticals

We are a world leader in our product categories and the largest brand management business in the world

Brand ManagementFootwear and Accessories

Men’s and Women’s FashionKids

Vertical Highlights - 1H 2016/17Kids

(US$m)

1H 2015/16

1H 2016/17 Change

Revenue 737 813 10.3%

Total Margin 257 295 14.8%% of Revenue 34.8% 36.3%Operating

Costs 237 245 3.6%

COP 20 49 147.4%% of Revenue 2.7% 6.1%

Men’s and Women’s Fashion

1H 2015/16

1H 2016/17 Change

249 371 48.9%

100 155 55.4%

39.9% 41.7%

83 123 48.6%

17 32 88.5%6.8% 8.6%

Footwear and Accessories

1H 2015/16

1H 2016/17 Change

575 595 3.4%

179 190 6.0%

31.1% 31.9%

181 196 8.5%

(2) (7) —— —

Brand Management

1H 2015/16

1H 2016/17 Change

43 66 52.8%

12 16 41.3%

27.1% 25.1%

13 13 5.9%

(1) 3 —— 4.6%

• An undisputed leader

• A scalable business with a consistently strong performance

• Comprised of characters and kids fashion businesses; partner with the leading names such as Disney, Tommy Hilfiger, Calvin Klein, Under Armour, and Nautica

• Iconic brands include Spyder, Juicy Couture, Jones New York, Joe’s Jeans, Buffalo Jeans and David Beckham

• The addition of new licenses and select strategic investment in key brands impacted operating costs

• Looking to make this a scalable platform like Kids

• Major brands include Calvin Klein, Cole Haan, Michael Kors and Kate Spade, and our own brands such as Frye and Aquatalia

• Total margin improvement due to new licenses and better mix of business

• The addition of new licenses and investment in Frye and Aquatalia impacted operating costs

• Formed a joint venture in July with Creative Artists Agency (“CAA”) called CAA-GBG which instantly became the world’s largest company in this space

• Strong growth largely driven by the formation of this joint venture

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Gap 1.67% H&M 1.39% Zara 1.01% Children’s Place 0.95% Nike 0.88% Gymboree 0.77% Adidas 0.70% Target 0.62%

Carter’s Inc 2.58%

Our Position – Global Retail Sales by Vertical

Kids Men’s and Women’s Fashion

* Global Brands: retail sales based on the assumption at 2x of Global Brands’ turnover in 2015 ** All other companies: data based on Euromonitor International 2015

Global Brands 0.11%

Global Brands 1.99%

Zara 1.65% H&M 1.62% Fast Retailing 1.17% PVH 1.14% Gap 1.14% Nike 1.10% Adidas 0.90% VF 0.87% Levi’s 0.73%

GlobalMarket Size

US$151bn

GlobalMarket Size

US$1,034bn

§ Source: “License! Global” magazine Aug 2016 issue, based on FY 2015 numbers reported

Footwear and Accessories Brand Management

Our Position – Global Retail Sales by Vertical

* Global Brands: retail sales based on the assumption at 2x of Global Brands’ turnover in 2015

** All other companies: data based on Euromonitor International 2015. Highlighting key companies in the affordable luxury space and excluding luxury and sports brands companies

Global Brands 0.46%

Nine West 0.45% Bata 0.37% Steve Madden 0.31% Ecco 0.26% Geox 0.21%

VF 1.44% Michael Kors 0.86% Coach 0.73% Belle 0.68%

CAA-GBG 19.15%

WME/IMG 14.12%

Beanstalk 9.57%

Equity Management 9.57%

LMCA 9.41%

Global Icons 8.44%

CPLG 4.38%

Brand Central 3.73%

Joester Loria 3.08%

Exim 2.43%

GlobalMarket Size

US$537bn

Top 20 Total Retail Sales§

US$61.6bn

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(1) Total debt represents bank loan ; (2) Sum of net debt and total equity; (3) Net debt divided by total capital ; (4) Current assets divided by current liabilities

Balance Sheet Highlights - 1H 2016/17

(US$m) Mar 2016 Sep 2016

Total Debt (1) 996 996

Cash 99 208

Net Debt 897 788

Total Equity 2,476 2,362

Total Capital (2) 3,373 3,150

Gearing Ratio (3) 26.6% 25.0%

Current Ratio (4) 1.11 1.05

• Net debt decreased from March 31, 2016 by 12.2%

• Cash position made strong improvement and increased by 111.3%

• 1H 2016/17 produced strong cash flows from operating activities of US$258m

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Ability to Reduce Leverage Quickly

* Cash payment for acquisitions includes upfront payment at close of current transactions as well as earn-up and earn-out payments for prior transactions

0

225

450

675

900

7970

165

441 258

273

788

897

564

Net Debt at Spin-off

(Jun 30, 2014)

Cumulative cash from operating activities

Other uses of cash

Net Debt at March 31,

2016

Cumulative cash from operating activities

Other uses of cash

Net Debt at Sept 30,

2016

Cashpayment foracquisitions*

Cashpayment foracquisitions*

(US$m)

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Plans to Continue to Reduce Leverage

• Increase focus on reducing working capital

- Reducing inventory

- Optimizing terms with suppliers

• Decreasing purchase consideration payables for acquisitions

• Continuing to optimize our overhead structure for leverage

• Continuing improvement of our gross margin driven by:

- Pricing improvement

- Sales growth

• Reduction of Capex, i.e. Empire State Building

New Partnership

• Formed joint venture with iconic global pop star Katy Perry, expanding on the licensing partnership for footwear collection

• Joint venture aims to grow the Katy Perry brand into new consumer categories

• Initial reviews of the footwear collection have been very positive from our channel partners and fashion editors alike

• The footwear collection is the first category to launch and will be available in stores and online in February/March 2017

• Distribution to top US and international retailers, plus launching our own Katy Perry e-commerce site and social media platform

New Partnership - Katy Perry

We are at the Forefront

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Consumers are:

➡ More interested in experiences than physical goods

➡ Internet / mobile savvy / constantly connected

➡ Strongly influenced by celebrities

Disruption of Industry Status Quo

➡ E-commerce / mobile-commerce becoming ubiquitous

➡ Content-led commerce

➡ Virtual reality

➡ Migration from physical retail space towards online and omni-channel

➡ Shortened brand lifecycle

➡ “See now buy now”

➡ Proliferation of celebrity-inspired brands

➡ Multi-dimensional consumer engagement

The confluence of all resulting in major disruptions to existing brand and retail business models

Structural / cyclical changes

in consumer behaviour

Technology advancement

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Unique and Flexible Model that Embraces Changes

➡ Diversified portfolio of brand licenses

➡ Flexibility to capitalize on any power brand

➡ Choice to tap different stages of a brand life cycle

➡ Channel agnostic — partnership with all major channel players (department store, hypermarket / club, off-price, specialty, e-commerce)

➡ Little legacy physical retail infrastructure

➡ Select investment in retail and e-commerce provides direct consumer engagement and insight

➡ Monetizing American affordable luxury brands as they go global

➡ Partner of choice for brands with global business or ambitions

➡ Diversified end market exposure

➡ Deep understanding of consumers and the ability to sell to them on a global basisGlobal Footprint

Licensing Model (vs Brand Ownership)

Wholesale Driven (vs Heavy Retail Exposure)

3 Major Pillars of Our Business Model

Outlook

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• With the conclusion of the American presidential election, some of the recent political uncertainty in the U.S. has now eased. After a soft start to the year, U.S. consumer sentiment is showing signs of improvement, although the country’s economic direction will obviously also depend on the policies of the new administration.

• Uncertainty in Europe is likely to continue, while Asia remains promising given an expanding middle class despite China’s growth rate slowing

• The industry is evolving driven by technology-led revolution in consumer buying pattern and behaviour; our diversified licensing model is well-placed to take advantage of the changes

• Despite the challenges, we will continue to focus on growing our market share across all distribution channels, including department stores, hypermarkets/clubs, off-price retailers, independent chains, specialty retailers and e-commerce

• Growth momentum of top-line and total margin expected to continue

• Next Three-year Plan for fiscal year 2017/18 to 2019/20 will be announced at our next reporting in June

Outlook

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Disclaimer

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2016/17 Interim ResultsAnnouncement

Analyst Meeting Nov 17, 2016