Interim Three Months 2018

Interim Three Months 2018 13 June 2018

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Interim Three Months 2018

Disclaimer

This document and the information herein does not constitute an offer to sell, to buy or to exchange, nor an invitation to make an offer to buy, to sell or to exchange, nor a recommendation or advice, regarding any security issued by the Inditex Group. This document contains forward-looking statements. All statements other than statements of historical fact included herein, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations are forward-looking statements. Any such forward-looking statements are subject to risk and uncertainty and thus could differ materially from actual results. Some of these risks include, amongst others, ongoing competitive pressure in the sector, consumer tastes and spending trends, economic, political, regulatory and trade conditions in the markets where the Inditex Group is present or in the countries where the Group’s products are manufactured or distributed. The risks and uncertainties that could affect the forward-looking statements are difficult to predict. The company assumes no obligation to publicly revise or update its forward-looking statements in the case of unexpected changes, events or circumstances that could affect them. Given the uncertainties of forward-looking statements, we caution readers not to place undue reliance on these statements. For a discussion of these and other factors that may affect forward looking statements and the Inditex Group’s business, financial conditions and results of operations, see the documents and information communicated by the company to the Comisión Nacional del Mercado de Valores (the Spanish Securities Commission). The contents of this disclaimer should be taken into account by all persons or entities.

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Overview

Interim Three Months 2018

Global fully integrated Store & Online

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Interim Three Months 2018

Differentiated business model

Central inventory

Distribution to all stores worldwide twice a week

Global online same day/next day

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Interim Three Months 2018

Interim Three Months 2018: Overview

Strong execution of the business model

Global growth opportunities

Strong activity

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Interim Three Months 2018

Extension of Inditex HQ

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Stratford

Interim Three Months 2018

Zara: London Flagship

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Stratford

Interim Three Months 2018

Zara: London Flagship

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Stratford

Interim Three Months 2018

Zara: London Flagship

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Stratford

Interim Three Months 2018

Bershka: Mexico City Flagship

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Madero

Interim Three Months 2018

Massimo Dutti: New image

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Zaragoza Paseo de la Independencia

Interim Three Months 2018

Pull&Bear: Madrid Flagship

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Preciados

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Cerdanyola

Stradivarius: New Headquarters

Interim Three Months 2018

Oysho: Milan Flagship

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Piazza San Babila

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Zara Home: Palma de Mallorca Flagship

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Paseo del Borne

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Uterqüe: Madrid Flagship

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Claudio Coello

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Financial Summary

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Interim Three Months 2018

Interim Three Months 2018

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€ million 1Q18 1Q17 18/17 2 year CAGR

Net sales 5,654 5,569 2% 8%

Gross profit 3,328 3,240 3% 8%

EBITDA 1,125 1,113 1% 9%

EBIT 851 834 2% 10%

Net income 668 654 2% 10%

Strong operating performance

Interim Three Months 2018

Strong Sales Growth

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€ million 1Q18 1Q17 18/17 2 year CAGR

Net sales 5,654 5,569 2% 8%

Sales in local currencies +7%

Interim Three Months 2018

Gross Profit

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€ million 1Q18 1Q17 18/17 %

Gross profit 3,328 3,240 3% 58.9%

Gross profit growth of +3% to €3.3 bn to 58.9% (+68 bps)

Sustained commercial policies

Interim Three Months 2018

Tight control of operating expenses

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€ million 1Q18 1Q17 18/17

Op. expenses 2,194 2,126 3%

Interim Three Months 2018

Current Accounts

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€ million 1Q18 1Q17

Inventory 2,900 2,774

Receivables 884 992

Payables (5,937) (5,921)

Operating working capital (2,153) (2,155)

Interim Three Months 2018

Concepts

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Interim Three Months 2018

Performance per concept

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% Store & Online Sales

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Performance per concept

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Group average Massimo

Dutti Bershka

Oysho

Zara Home

Uterque Stradivarius

Pull&Bear

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Outlook

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Interim Three Months 2018

FY2018: Outlook

Ordinary capital expenditure c. €1.5 billion Store & Online sales in local currencies have increased +9%

from 1 May to 11 June 2018

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Interim Three Months 2018

Global Store & Online: Strong growth opportunities

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Interim Three Months 2018

Global online

Central inventory + Online stockrooms + Global store platform

Same day delivery metropolitan areas/Next day global standard

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Toronto 2017

Los Angeles 2014

UK 2012 Russian Fed

2013 Tokyo 2011

Shanghai 2012

Madrid 2010

Poland 2014 & 2016

Mexico 2014

Seoul 2014

Philadelphia 2015 Taiwan

2015

France 2015 Turkey

2016

Hong Kong 2016

New Delhi 2017

Sydney 2018

Interim Three Months 2018

Online launch of Zara in Australia and New Zealand

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East Nanjing Road

Interim Three Months 2018

Store & Online: Studio Collection

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Interim Three Months 2018

Store & Online: Behind the Desert

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Interim Three Months 2018

Store & Online: Atlantic Beach

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Interim Three Months 2018

Store & Online: Colour Canyon

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Interim Three Months 2018

Zara: Tokyo pop-up

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Paris Opera Roppongi Hills

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Zara: Shenzhen

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Upper Hills mall

Upper Hills

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Zara: Los Angeles

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Beverly Center

Interim Three Months 2018

Zara: Bilbao

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Gran Vía

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Interim Three Months 2018 13 June 2018

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