Speed and efficiency

Agordo – October 1, 2012

Speed and efficiencyenhance best-in-class service

Certain statements in this investor presentation may constitute “forward-looking

statements” as defined in the Private Securities Litigation Reform Act of 1995. Such

statements involve risks, uncertainties and other factors that could cause actual results to

differ materially from those which are anticipated. Such risks and uncertainties include,

but are not limited to, our ability to manage the effect of the uncertain current global

economic conditions on our business, our ability to successfully acquire new businesses

and integrate their operations, our ability to predict future economic conditions and

changes in consumer preferences, our ability to successfully introduce and market new

products, our ability to maintain an efficient distribution network, our ability to achieve

Forward looking statements

products, our ability to maintain an efficient distribution network, our ability to achieve

and manage growth, our ability to negotiate and maintain favorable license

arrangements, the availability of correction alternatives to prescription eyeglasses,

fluctuations in exchange rates, changes in local conditions, our ability to protect our

proprietary rights, our ability to maintain our relationships with host stores, any failure of our

information technology, inventory and other asset risk, credit risk on our accounts,

insurance risks, changes in tax laws, as well as other political, economic, legal and

technological factors and other risks and uncertainties described in our filings with the US

Securities and Exchange Commission. These forward-looking statements are made as of

the date hereof, and we do not assume any obligation to update them.

2

Welcome

Agenda

Go-to-market: beyond best-in-class service, towards an integrated approach

Global Operations overview

Engineering: craftsmanship and the striving for excellence in technique

Supply chain: scheduling products’ journey across five continents

4

Supply chain: scheduling products’ journey across five continents

Logistics: closer to customers, wherever they are

Operations 3-year plan: further extending Luxottica’s capabilities

Australia: strategic repositioning

Go-to-market

Paolo Pezzutto

�A game changing transformation

� Customer

> Customer profiling and

segmentation

> Dedicated in-store specialists

> Luxottica Days events

A proactive, customer-centric evolution

6

� Product

> Segmentation and line

planning

> Exclusive products and

activities

> Enhanced storytelling and

training with digital tools

Strategizing the offer and the service

Further driving efficacy and efficiency

New styles

launched per year

Frames

manufactured

+25%

-10%

Special projects &

limited distribution

+41%

Portfolio optimization

Excluding Tecnol 7

2010 2011 2012 2010 2011 2012

-10%

2010 2011 2012

A consumer-centric calendar

Logistics

In storePrada Parallel Universe

8

Manufacturing

Engineering

Product design

A bottom-up approach: what, when, where and how

Getting closer to the consumer

2009 2012

Optimizing the product offer

Traditional

commercial

model

Traditional wholesale

Third-party distributors

STARS

Key AccountsTop Accounts

Partnership in assortment

definition andsupply services

E-commerce

Luxottica retail

Direct dialogue

with final

consumers

9

LONDONLONDON DUBAIDUBAI

MILANMILAN PARISPARIS

Planning sophisticated product launches

10

60 top cities, 6 special countries and 4 macro-areas

>1,000: internationally distributed styles

>150: limited area distribution styles

>30: market specific exclusive styles

SYDNEYSYDNEY NEW YORKNEW YORK

SHANGHAISHANGHAI LAS VEGASLAS VEGAS

Go-to-market 3.0

Integrated approach delivering beyond best-in-class service

11

Global operations’ overview

Massimo Vian

Operations ID

11plants

4 Logistic hubs

3 Technologies

13

~40mn sun lenses

~75 mn frames

17,500Luxotticans

Behind each of our glasses there is a story

of quality, commitment, passion…

Expanding manufacturing footprint

85%Italy

15% China

2006

14

Optimized footprint has driven speed and flexibility

3%Brazil

40%China & India

50% Italy

7%US

2012

Vertical integration: speed & control

Engineering

Go-to-market

Su

pp

ly c

ha

in

New products

time to market

(weeks)

-44%

Continuous products

re-order lead time

(weeks)

-43%

15

Manufacturing

Logistics

Su

pp

ly c

ha

in

Qu

alit

y

2009 2012

-44%

2009 2012

-43%

Uncompromising in quality

�Federico Buffa, engineering

�Enrico Mistron, supply chain

Operations assets in-depth

Engineering

Manufacturing

Su

pp

ly c

ha

in

Qu

alit

y

16

�Fabrizio Uguzzoni, logistics

�Carlo Salomoni, quality

Manufacturing

Logistics

Su

pp

ly c

ha

in

Qu

alit

y

Engineering

Federico Buffa

Ideal balance between style and technology

Prototypes

Tech design

Tools 22

33

44

Engineering

Manufacturing

Su

pp

ly c

ha

in

Qu

alit

y

18

Samples and process

Ready for mass production00

11

22Manufacturing

Logistics

Su

pp

ly c

ha

in

Qu

alit

y

Campaign launch drives development timing

New products time to market(weeks)

2009 2010 2011 2012

-44%

19

�Closer & closer to the market

� Timing in line with marketing and

license campaign

� Design for manufacturing &

assembling to minimize production

lead time

� Tooling standardization to boost

flexibility

2009 2010 2011 2012

�Enriching collection

� New concepts

� New decorations

� New finishing

Always innovating: the ultimate R&D for materials

20

�Product differentiation

� Materials

� Technology

� Treatments

Technology supporting jewel production

�Advanced technical modeling:

translating style briefing into 3D

projects without losing elegance

and fitting

�Quality starts from tools:

designing tools and surface

Product engineering

21

designing tools and surface

treatment to assure quality and

lean production

Mould workshops are center of excellence

�Automation

� High tech equipment

and automation for

precision operation

�Process

Industrial engineering, a combination of craftsmanship and high tech equipment

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� Craftsmanship to

design and create

unique jewels

> Decoration coloring

> Precious stone

assembly

> Leather & enamel

finishing

Where hi-tech meets design

US Brazil Italy China

Technical offices located across four continents, but using only one common system

23

Open 24 hours a day!

Supply chain

Enrico Mistron

�Planning across

� Demand forecasting

� Inventory and capacity planning

Scheduling products’ journey

Engineering

Manufacturing

Su

pp

ly c

ha

in

Qu

alit

y

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�Defining manufacturing phases

�Reaching customers in time

Manufacturing

Logistics

Su

pp

ly c

ha

in

Qu

alit

y

Coach launch:reactiveness and speed

Weekly demand

update

Additional

capacity needs:

+30% in 3 months

26

Fast planning process applied to 30 brands

Fine-tuning of

customer

allocation

Fast track in

production

Lead time

(days)

-43%

DSI

(days)-8%

Backorder

(days)

-36%

Unparalleled results

A continuous and dedicated effort to speed

27

2009 2010 2011 2012 2009 2010 2011 2012 2009 2010 2011 2012

Logistics

Fabrizio Uguzzoni

Logistics: serving directly 200,000 doors

�Getting closer to wholesale customers

and retail locations through

� Fostering sophistication in service

Engineering

Manufacturing

Su

pp

ly c

ha

in

Qu

alit

y

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…service, speed, efficiency…

� Reorganizing DCs and network

� Reducing obsolescence and local

inventory

Manufacturing

Logistics

Su

pp

ly c

ha

in

Qu

alit

y

Logistics efficiency: action, not words!

Cost per unit

(€)

-12%

Service level

(customer view)

+30%

30

Best-in-class service level

2009 2010 2011 20122009 2010 2011 2012

�On full

�On time

� 1st delivery: fill rate & lead time

�Order closure: shipments & days

Emerging markets: same proximity as mature ones

1.7 days on average

-13% vs. 2011

Europe

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2.3 days on average

-48% vs. 2010

The last mile everywhere

China

Group Operations: 3-year plan

Massimo Vian

Expected improvements

Lead time reduction (days)

Engineering

-29%

Supply chain

-33%

Manufacturing

-33%

Logistics

-25%

Benefits reflected in revenues and costs

33

-29%

2012 2015E

-33%

2012 2015E

-33%

2012 2015E

-25%

2012 2015E

Production expansion, accordingly to demand

US Brazil Italy China & India

34

2015E 2015E 2015E 2015E

+10-15% +100-120% +5-8% +50-70%

�Further boosting product and

process complexity

� Decorations

> State-of-the-art decoration

factory

> New technologies

China: leading excellence

� Sun lenses

> Improved know-how for both

plastic and crystal lenses

> Producing full range of Ray-

Ban and Oakley polarized

lenses

35

�Brazil’s leading manufacturer

� Vertically integrated from design

to distribution

� Approx. 3 million units in 2011

� Metal and plastic injection

> State-of-the-art technologies

and manufacturing

An efficient integration“Made in Brazil” from … today!

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and manufacturing

processes

� Just launched Vogue for Brazil

� Ray-Ban and Oakley production

planned for 2013

Campanha primavera/verão 2012 para Vogue

�Growing production capacity

� Emerging markets, a driving force

�Striving for innovation

� Technology

Over €200 million in investments over next three years

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� Technology

� Processes

� Products

�IT platform creating efficiencies

Steadily investing to support flexibility, innovation and capacity

�2015 production capacity: <50% in Western countries, >50% in emerging markets

�2015: 100 million frames produced

�Operations overall lead time reduction of 30%

�Inventory reduction 20% in 3 years

Key takeaways

�Inventory reduction 20% in 3 years

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For us the story of a pair of glasses is always a story

written by hand, with a human touch

Australia

Chris Beer

Strengthening the business proposition in Australia

Aggressive

Global financial

crisisProposition

transformation

What have we

learned?

Consumer confidence

crisis & dual economy

40

Growth, scale &

product advantage

Further building a

sustainable advantage

Aggressive

competitionSuper brands

2003-2008

Growth &

leverage

2010-2012

Enhancing pillars of

growth

2008-2010

Rebuild

2013 >

Growth

�Fast growth

� Retail footprint increased by

approx. 200 stores

�Leveraged Group supply chain

2003-2008Growth & leverage

41

�Leveraged Group supply chain

�Increased premium positioning

�Global financial crisis and dual

economy in Australia

� GDP boosted by mining

� Struggling retail

environment, consumer

confidence crisis

2008-2010Structural reset of the Australian market

42

confidence crisis

�A new, aggressive competitor

� Prices come first

� Attacked premium

offering

2010Back to heritage

43

�A burning platform already in place

�Creating a burning culture all across the

organization

� Flexible, fast and bold

� Building a sustainable advantage

�Focusing on OPSM brand roots

� Quality

� Energy

� Consumer-oriented

approach

2010-2012Enhancing pillars of growth

44

approach

� To reach…

�….highest standards of eye

care in the country

�A sustainable base from

which to grow the

business

2012Building further solid foundation

45

�Customer service-

centric approach

Driving changes to seize opportunities

46

Simplify, focus and connect

Reaping the benefits of strategic repositioning

�17 months of positive comps at OPSM, accelerating in 2012

� 1H 2012: +9%

� 3Q 2012: further acceleration

�Retail footprint reorganization, 15 months ahead of plan

� 97 stores closed and 16 to go

47

� 46 rebranded and 11 to go

�Transformed shared services

� >20% reduction in head count as of September

Further engaging the customers in 2013 and beyond:

Accufit, training, omni-channel

Investor Relations team

Alessandra Senici

Tel. +39 (02) 8633 - 4662

alessandra.senici@luxottica.com

Nicoletta Russo

Tel. +39 (02) 8633 - 4718

nicoletta.russo@luxottica.com

Elena DimichinoElena Dimichino

Tel. +39 (02) 8633 - 4038

elena.dimichino@luxottica.com

Elisa Cattaruzza

Tel. +39 (02) 8633 - 4870

elisa.cattaruzza@luxottica.com

www.luxottica.com