May 2017

Corporate Presentation

Our Business Activities

Retail Home Furnishings

Retail Sporting Goods

2

Company Profile

• FOURLIS GROUP is a leading retail group of companies of quality consumer goods in Southeast Europe. The initial company was founded in 1950.

• The group is active in two key divisions:

- Retail Home Furnishings through the franchise of IKEA stores in Greece, Cyprus and Bulgaria,

- Retail Sporting Goods through the franchise of INTERSPORT stores in Greece, Cyprus, Romania, Bulgaria and Turkey along with THE ATHLETE’S FOOT stores in Greece and Turkey.

3

Economic Environment in Greece remains challenging

Source: Hellenic Statistical Authority

100 92

82 75 74 73 73 69

0

20

40

60

80

100

120

2010 2011 2012 2013 2014 2015 2016 2017 (Feb)

Retail Sales Index (2010 = 100)

100

83

67 61 58 54 53

44

0

20

40

60

80

100

120

140

2010 2011 2012 2013 2014 2015 2016 2017(Feb)

Appl-Furn Index

100 102 97 84

76 72 75 66

0

20

40

60

80

100

120

140

2010 2011 2012 2013 2014 2015 2016 2017(Feb)

Department Stores Index

FOURLIS Group, during Q1 2017, realized sales € 89,1 million 3,2% lower vs same period last year (€ 92,0 mio).

Q1 2017 EBITDA was € 2,8 million vs € 3,0 million in Q1 2016 (3,3% lower).

Consolidated Losses Before Taxes were € 4,1 million vs losses €4,0 million in Q1 2016.

The Group realized Net Losses € 3,3 million vs losses €3,2 million in Q1 2016.

Net Debt € 137,5 million vs € 146,9 million in Q1 2016 and € 114,5 in FY16

CAPEX € 1,8 mio.

4

Executive Summary Q1 2017

5

Consolidated Key Financial Figures

Group Consolidated Key Financial Figures (in €mm)

Q1 FY

CY 17 PY 16 Index CY 16 PY 15 Index

89,1 92,0 97 Revenue 428,1 414,4 103

37,7 37,8 100 Gross Profit 182,0 171,1 106

42,3% 41,1% Margin 42,5% 41,3%

2,8 3,0 92 EBITDA 38,4 32,6 118

3,1% 3,3% Margin 9,0% 7,9%

-4,1 -4,0 101 PBT 7,7 2,5 306

-3,3 -3,2 103 NP 6,0 0,3 2375

5

Consolidated Balance Sheet

€ million Q1 2017 FY 2016 Q1 2016

Property, plant & equipment 219,3 221,0 223,3

Other Non Current Assets 63,3 63,1 64,9

Non-current assets 282,6 284,1 288,2

Inventories 88,2 77,7 86,5

Receivables 26,7 22,3 22,4

Other Current Assets 1,2 1,3 2,8

Cash & Cash Equivalent 18,9 33,6 11,7

Current assets 135,0 134,9 123,4

Total Assets 417,5 419,0 411,6

Loans and Borrowings 109,7 104,8 65,8

Other non-current liabilities 9,1 9,2 9,1

Non-current liabilities 118,8 114,0 74,9

Total Loan Borrowings 46,6 43,3 92,9

Total Account Payables 92,2 98,0 90,0

Current liabilities 138,8 141,4 182,9

Shareholders Equity 159,9 163,6 153,9

Shareholders Equity & Liabilities 417,5 419,0 411,6

6

Consolidated Key Financial Figures

436,0 420,3 386,5 399,1 413,3 427,8

89,1

2,2 16,8 14,3 1,1 0,2

0

100

200

300

400

500

FY11 FY12 FY13 FY14 FY15 FY16 Q1 2017

Cont, Operations Discont. Operations

Revenue (2011-Q1 2017)

80,2% 71,8% 68,6% 67,1% 65,2% 63,8% 59,6%

19,8% 28,2% 31,4% 32,9% 34,8% 36,2% 40,4%

FY11 FY12 FY13 FY14 FY15 FY16 Q1 2017

Greece Abroad

Revenue Breakdown by Geography (2011 - Q1 2017)

EBITDA (2011-Q1 2017)

28,0

20,1 25,4 25,9

32,6 38,4

2,8

FY11 FY12 FY13 FY14 FY15 FY16 Q1 2017

8

Net Debt Structure by Segment & Evolution

Total

2011 2012 2013 2014 2015 2016

Evolution of Net Debt

Net Debt Structure by Segment - € mm

31.12.2016 31.03.2016 31.03.2017

Δ vs PY

same

period

Δ vs PY end

81,7 106,8 97,4 -9,4 15,7

34,2 40,7 40,1 -0,6 5,9

-1,3 -0,6 0,0 0,5 1,3

114,5 146,9 137,5 -9,5 22,9

€46,0 m

€70,3 m

€40,0 m

Short Term Loans

Long Term Bank Loans

Corporate Bond

Debt Structure Q1 2017

153

123

160

143

159 157

142 138

154 154

129 129

151 58

145 135

163

145 142

125

147

134

120 115

138

0

50

100

150

200

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2017

(114,5)

(4,1)

6,8

(20,8)

(1,8) (3,0) (0,1)

(137,5)

Non Cash Changes

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Q1 2017 – Cash Flow Performance

Net Debt

PY 2016 PBT

Working

Capital

Changes

Group Cash Flow (in € mm)

CAPEX Spending

Interest Income Taxes

Net Debt

CY 2017

10

HOUSEMARKET

Athens 2 stores

Thessaloniki 1 store

Countryside 2 stores

Greece

Nicosia 1 store

Cyprus

Sofia 1 store

Bulgaria

2 Pick Up Points

E-Commerce in all three countries

5 Pick Up Points

2.335 2.240

Q1 2016 Q1 2017

IKEA Visitors

-4,1%

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HOUSEMARKET – Financial Performance

IKEA Key Financial Figures (in €mm)

Q1 FY

CY17 PY16 Index CY16 PY 15 Index

57,1 59,6 96 Revenue 291,3 279,5 104

23,4 23,5 99 Gross Profit 117,2 108,6 108

40,9% 39,4% Margin 40,2% 38,9%

1,9 2,3 84 EBITDA 29,1 25,6 114

3,4% 3,8% Margin 10,0% 9,2%

-2,3 -2,5 91 PBT 8,1 4,6 178

INTERSPORT

Greece Intersport stores 50 The Athlete’s Foot stores 8

Intersport stores 31

Romania

Intersport stores 21 The Athlete’s Foot stores 1

Turkey Intersport stores 7

Bulgaria

Intersport stores 4

Cyprus

Stores by geography

13

2009 2010 2011 2012 2013 2014 2015 2016 2017

Greece Romania Bulgaria Cyprus Turkey

44 51

73

82 91

103 106 112 113

851 834

Q1 2016 Q1 2017

INTERSPORT Visitors

-2%

INTERSPORT – Expansion Plan

14

55 stores

5 stores

Cyprus

10 stores

Bulgaria

40 stores

now 50 stores

now 4 stores

now 7 stores

Romania

now 31 stores

Turkey

now 21 stores

Greece

55 stores

A Target of 160+ Stores

Expansion Plan (2020)

-

40

80

120

160

200

-

50

100

150

200

Sales (€m) Stores Sq m

INTERSPORT – Financial Performance

15

INTERSPORT Key Financial Figures (in €mm)

Q1 FY

CY17 PY16 Index CY16 PY 15 Index

32,0 32,4 99 Revenue 136,5 129,3 106

14,3 14,3 100 Gross Profit 64,9 61,4 106

44,7% 44,3% Margin 47,5% 47,5%

1,1 1,4 77 EBITDA 11,9 10,9 109

3,3% 4,3% Margin 8,7% 8,4%

-1,5 -0,8 195 PBT 2,3 2,8 82

• A global retailer for trendy athletic footwear and apparel.

• 471 stores in 26 countries.

• Carrying some of the world’s most renowned brands.

• Sport with style.

• Fourlis Group has the franchise rights to develop The Athlete’s Foot store network in Greece and Turkey.

• Today operate 8 stores in Greece and 1 store in Turkey.

16

Real Estate Projects

Main Tenants GLA : 8.000 m2

Opened: 2009

Main Tenants

GLA : 69.000 m2

Opened : November 2014

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Rentis – Piraeus Avenue