2

Certain information contained in this document may include projections and forecasts. These projections and forecasts are based on SMCPmanagement's current views and assumptions. Such statements are not guarantees of future performance of the Group. Actual results or performancesmay differ materially from those in such projections and forecasts as a result of numerous factors, risks and uncertainties.

This document has not been independently verified. SMCP makes no representation or undertaking as to the accuracy or completeness of suchinformation. None of the SMCP or any of its affiliates representatives shall bear any liability (in negligence or otherwise) for any loss arising from any use ofthis presentation or its contents or otherwise arising in connection with this presentation.

For more information regarding these factors, risks and uncertainties, please refer to the information contained in the documents filed with the FrenchFinancial Markets Authority (Autorité des Marchés Financiers - AMF) as part of the regulated information disclosure requirements and available onSMCP's website (www.smcp.com).

Disclaimer

o Strong quarter in a challenging environment, mainly in France and Hong-Kong

o Sales growth acceleration throughout the quarter alongside positive start from FW19 collections

o Positive like-for-like sales growth in Q3 19 driven by all international markets

o De Fursac integration well on track ; solid progress towards store openings roadmap for 2020

3

Q3 2019 - strong quarter driven by Europe and APACFull-year guidance confirmed

1,606 points of sale

+107 LTM DOS

REPORTED SALES

GROWTH (1)

+10.8%

Sales: €274.5m

(1) Including one month of De Fursac sales

SALES GROWTH (At constant Currency & Scope)

+9.0%

1,547 POS

(incl. De Fursac)

4

Q3 19 openings: +29 POS, in line with roadmap

Sandro Prince Street - New York

France: -6 Americas: +1EMEA: +12 APAC: +22

Maje Milan Corso Como - Italy Maje Shijiazhuang MixC - China

40 countries 1,547 POS

# POS Q3 19

Claudie Pierlot – Champs Elysées

Sales growth by region

Claudie Pierlot – Champs Elysées Paris

France EMEA APAC Americas

6

Double-digit international sales growth driven by Europe and APAC; strong resilience in France

ccs: Constant currency & scope

By region

Sandro Maje Other brands

By brand

(*) Including De Fursac

7

Sales growth by region

/ Strong resilience in a tough market; continued acceleration over the quarter

/ July impacted by heatwave ; Good momentum from August

/ Qualitative investment in key locations: Claudie Pierlot Champs Elysées, and Sandro Toulouse

/ LTM DOS: -7 ; continued progress on network optimization plan (-6 net closings in Q3 19)

/ Sales growth acceleration driven by all countries, including UK

/ July impacted by heatwave ; strong momentum from August

/ Strong start of the FW19 collections

/ LTM DOS: +47 mainly focused on Spain, Italy, and Switzerland

France

+0.6% ccs.

EMEA

+12.2% ccs.

Gradual acceleration over the quarter, which bodes well for Q4

Solid acceleration vs. Q2 19 with sales growth back to double-digit

ccs: Constant currency & scope

8

/ Good performance versus an exceptionally high performance last year (+41.8% ccs. in Q3 18)

/ Solid underlying trends with sequential LFL improvement vs. H1 19

/ Impact from delays in Sandro new flagship opening (already number 1 store in Americas)

/ LTM DOS: + 16; Sandro Prince Street; Maje Dallas North Park ; Maje San Diego Fashion Valley

Very strong quarter, above expectations despite Hong-Kong events

/ Very strong performance against high base of comps (+31.0% ccs. in Q3 18);

/ Mainland China: > +30% ccs. incl. high-single digit LFL ; well-balanced between B&M and Digital

/ Increase in digital sales penetration ; launch of Wechat mini program e-shop and 2 social media

platforms: @noteofstyle (Instagram) and Red

/ LTM DOS: + 51 incl. 1 new city (Shijiazhuang) and Kunming Spring City 66 (Sandro & Maje)

APAC

+21.5% ccs.

Sales growth by region

Improved underlying performance against exceptionally high compsAmericas

+6.3% ccs.

ccs: Constant currency & scope

9

Sales growth by brand

10

Sales growth by brand

o Strong outperformance of Sandro driven by a positive reception of its FW19 collections

o Dynamic performance of Maje in light of its high comps (+20.6% ccs. in Q3 18) ; Good reception of its FW19 collections

o Claudie Pierlot still impacted by a weak performance from its SS19 dress category and lower exposure to fast-growing international markets

o Solid progress in accessories with sales up double-digit, mostly driven by Maje and Claudie Pierlot which continued to capitalize on leather goods & shoes

+2.1% ccs.+11.0% ccs. +X% cc.+8.8% ccs.

Other brands

ccs: Constant currency & scope

1 Excluding LTIP impact 12

SALES GROWTH at ccs.

Adj.1 EBITDA MARGIN

2019 guidance confirmedExcluding De Fursac acquisition

Quarterly net sales by brand and region

14

%: sales growth as reported

% ccs: sales growth at constant currency & Scope (i.e. excluding De Fursac)

Other brands: Claudie Pierlot and De Fursac

In €m Q1-18 Q1-19 % % at ccs. Q2-18 Q2-19 % % at ccs. H1-18 H1-19 % % at ccs. Q3-18 Q3-19 % % at ccs. 9M-18 9M-19 % % at ccs.

France 99.8 96.0 -3.9% -3.9% 87.1 87.5 +0.5% +0.5% 187.0 183.5 -1.8% -1.8% 89.6 91.8 +2.5% +0.6% 276.6 275.4 -0.4% -1.1%

EMEA 71.9 79.4 +10.4% +9.9% 73.5 79.4 +8.0% +7.5% 145.4 158.8 +9.2% +8.7% 77.8 87.5 +12.4% +12.2% 223.3 246.3 +10.3% +9.9%

Americas 29.3 31.7 +8.4% +1.0% 31.0 37.0 +19.3% +13.3% 60.3 68.7 +14.0% +7.2% 32.5 36.0 +11.0% +6.3% 92.7 104.8 +13.0% +6.9%

APAC 51.0 67.5 +32.3% +28.4% 49.6 61.8 +24.6% +23.4% 100.6 129.3 +28.5% +26.0% 47.8 59.2 +23.8% +21.5% 148.4 188.5 +27.0% +24.5%

Total 252.0 274.6 +9.0% +7.2% 241.3 265.7 +10.1% +8.9% 493.3 540.3 +9.5% +8.0% 247.7 274.5 +10.8% +9.0% 741.0 814.9 +10.0% +8.4%

Sandro 124.7 132.5 +6.2% +4.3% 118.1 129.9 +10.0% +8.6% 242.9 262.4 +8.0% +6.4% 118.9 133.4 +12.2% +11.0% 361.8 395.8 +9.4% +7.9%

Maje 95.6 106.9 +11.9% +9.8% 94.1 105.4 +12.0% +10.7% 189.7 212.4 +11.9% +10.3% 98.4 108.3 +10.0% +8.8% 288.1 320.6 +11.3% +9.8%

Other brands 31.7 35.2 +10.9% +10.5% 29.0 30.4 +4.9% +4.5% 60.7 65.6 +8.0% +7.6% 30.4 32.9 +8.0% +2.1% 91.1 98.5 +8.0% +5.8%

Total 252.0 274.6 +9.0% +7.2% 241.3 265.7 +10.1% +8.9% 493.3 540.3 +9.5% +8.0% 247.7 274.5 +10.8% +9.0% 741.0 814.9 +10.0% +8.4%

Breakdown of POS

15

Number of DOS 9M-18 2018 H1-19 9M-19Var.

9M 19 vs H1 19

Var.9M 19 vs

FY 18

Var.9M 19 vs

9M 19

By regionFrance 482 482 481 475 -6 -7 -7EMEA 348 364 385 395 +10 +31 +47 Americas 140 148 146 156 +10 +8 +16 APAC 158 178 195 209 +14 +31 +51 - - - - - - -By brandSandro 486 503 520 536 +16 +33 +50 Maje 390 409 423 435 +12 +26 +45 Claudie Pierlot 205 213 217 220 +3 +7 +15 Suite 341 47 47 47 44 -3 -3 -3- -Total DOS 1 128 1 172 1 207 1 235 +28 +63 +107

Number of POS 9M-18 2018 H1-19 9M-19Var.

9M 19 vs H1 19

Var.9M 19 vs

FY 18

Var.9M 19 vs

9M 19By regionFrance 482 482 481 475 -6 -7 -7EMEA 461 480 504 516 +12 +36 +55 Americas 162 174 181 182 +1 +8 +20 APAC 308 330 352 374 +22 +44 +66 - - -By brandSandro 624 646 672 690 +18 +44 +66 Maje 515 538 557 567 +10 +29 +52 Claudie Pierlot 227 235 242 246 +4 +11 +19 Suite 341 47 47 47 44 -3 -3 -3

Total POS 1 413 1 466 1 518 1 547 +29 +81 +134

o/w Partners POS 285 294 311 312 +1 +18 +27

Directly operated stores

Total points of sale

De Fursac POS stood at 59 in Q3 19, including 57 DOS, bringing the total to 1,606 POS for SMCP o/w 1,292 DOS

16

Shareholding structure

As of March 31st, 2019 the share capital of the Company is composed of 74,747,307 shares (including 1,197,239 Free Preferred Shares)

Assuming conversion of all the Free Preferred Shares into ordinary shares, the share capital of the Company would be composed of up to 78,246,929 shares

1 Post conversion of the all the Free Preferred Shares and excluding LTIP

Free float39,9%

Founders & Managers6,4%

Ruyi & Co-Investors53,7%

(51.3%) 1

(38.5%) 1

(10.3%) 1

17

Definitions of non-IFRS financial measures

/ “Net sales” consists of total sales (retail and wholesale sales) net of rebates, discounts, VAT and other sales taxes, but before the deduction of concession fees paid todepartment stores and commissions paid to affiliates.

/ “Sales growth at constant currency” corresponds to total sales in a given period compared with the same period in the previous year, expressed as a percentage changebetween the two periods, and presented at constant exchange rates (sales for period N and period N-1 in foreign currencies are converted at the average year N-1 rate).

/ “Like-for-like sales growth” corresponds to retail sales from directly operated points of sale on a like-for-like basis in a given period compared with the same period in theprevious year, expressed as a percentage change between the two periods. Like-for-like points of sale for a given period include all of the Group’s points of sale that wereopen at the beginning of the previous period and exclude points of sale closed during the period, including points of sale closed for renovation for more than one month, aswell as points of sale that changed their activity (for example, Sandro points of sale changing from Sandro Femme to Sandro Homme or to a mixed Sandro Femme andSandro Homme store). Like-for-like sales growth percentage is presented at constant exchange rates (sales for year N and year N-1 in foreign currencies are converted atthe average N-1 rate, as presented in the annexes to the Group's consolidated financial statements as at December 31 for the year N in question).

/ “Adjusted EBITDA” is defined by the Group as operating income before depreciation, amortization, provisions and charges related to share-based long-term incentiveplans (LTIP). Consequently, Adjusted EBITDA corresponds to EBITDA before charges related to LTIP. Adjusted EBITDA is not a standardized accounting measure thatmeets a single generally accepted definition. It must not be considered as a substitute for operating income, net income, cash flow from operating activities, or as ameasure of liquidity.

/ “Adjusted EBITDA margin” corresponds to Adjusted EBITDA divided by net sales.

/ “Adjusted EBIT is defined by the Group as earning before interests and taxes and charges related to share-based long-term incentive plans (LTIP). Consequently, AdjustedEBIT corresponds to EBIT before charges related to LTIP. “Adjusted EBIT margin” corresponds to Adjusted EBIT divided by net sales.

/ “Gross margin” as reported in the financial statements corresponds to the net sales after deduction of cost of sales and commissions paid to the department stores andaffiliates. The company uses and monitors as an operational KPI the “management” gross margin before commissions and refers to it in its management presentationsrather than the gross margin after commission.

/ “Retail margin” corresponds to the management gross margin after taking into account the points of sale’s direct expenses such as rent, personnel costs, commissions paidto the department stores and other operating costs.

/ “Selling, general and administrative expenses” are those incurred at the corporate level/central costs and not allocated to a point of sale or partner. These elements areadded to the retail margin to obtain EBITDA.