Investor Day 2016 April 6, 2016 Tiger of at a glance

. Founded in 1903 in Uddevalla, Sweden . 220 employees . Strong position in the Nordics, on the doorstep of international breakthrough . Strong growth momentum past ten years

Net sales, DKKm 943 883 CAGR 768 12% 633 563 488 476 435 388 353

2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15

1 Our portfolio includes different brand concepts with specific functions, roles and ambitions

Relative Brand Concept Role and ambition Primary products share, %

. Role: Core of Tiger of Sweden, spearhead for . Suits 44% international expansion Tiger . Blazers Man . Ambition: Leading international contemporary . Shirts tailoring brand with an informal take on the formal . Outerwear

. Role: Completing the Tiger of Sweden brand with . Blazers & jackets 20% a female fashion edge Tiger . Dresses Woman . Ambition: Leading contemporary tailoring brand . Tops for women, walks hand in hand with the Tiger of . Outerwear Sweden brand platform

. Role: Accessories and Shoes for the Tiger Man . Leather bags Tiger 14% and Tiger Woman consumer Accessories . Suit accessories . Ambition: The natural first hand choice for . Seasonal accessories & Shoes accessories and shoes for Tiger of Sweden’s . Underwear man and woman . Shoes and boots

. Role: The rebel in the family and a gateway to . Jeans 22% Tiger / the young generation allowing Tiger of Sweden . T-shirts to stay young Jeans . Knitwear

. Ambition: Leading European niche denim brand . Outerwear through a Scandinavian fashion take on jeans

2 The competitor landscape – local heroes and international players

Key competitors in main markets (Nordic region and European markets)

Nordic region Other Tiger Man . Hugo Boss . Hugo Boss . Acne . Kooples . Ralph Lauren . Ralph Lauren . J. Lindeberg . Paul Smith . Oscar Jacobson . Drykorn

Tiger Woman . Acne . Drykorn . Dagmar . Hugo Boss . Filippa K . Theory . Odd Molly . Kooples

Tiger Jeans . Acne . Acne . Diesel . Diesel . Lee . Lee . Levis . Levis . Nudie . Nudie . Replay

3 Our focus is to increase controlled space distribution

Net sales by channel Focus areas

Share of . It is our strategic ambition to take more 2014/15, DKKm total, % control of the consumer experience and come closer to our end consumers by: Wholesale 558 59 – Growing relative share of branded controlled Franchise 58 6 space distribution (i.e. retail stores, E-commerce, shop-in-shops) Retail 149 16 – Investing more in our retail stores and omni- channel integration to create a seamless E-commerce 26 3 consumer experience across different channels

Outlet 152* 16 – Use outlet capacity to manage distribution of left- over assortment

Total 943 100 – Improving and intensifying our brand storytelling and aligning it across all channels *Outlet channel includes revenue from 3rd party brands from Vingåker Factory Outlet

4 Market regions and characteristics

Net sales by market Nordic region and international markets

Share of . Nordic region constitutes 82% of full-year 2014/15, DKKm total, % revenue Sweden 430 46 – Strong market position for all concepts with further growth potential going forward 164 17 – High share of controlled space relative to other markets 115 12 . International focus markets 65 7 – , UK and France – in order of priority Germany 77 8 – Growth to be driven by Tiger Man complemented by Tiger Jeans and men's shoes and accessories UK 22 2 . Other international markets France 5 1 – Netherlands, Canada and South Africa (all Other markets 65 7 agent/distributor driven)

Total 943 100

5 Strategic priorities – Nordic region and international

Tiger Man Tiger Woman Tiger Acc. & Shoes Tiger Jeans

Nordic region . Maintain strong position . Strong position but still . Build on and accelerate . Strong position in throughout the region potential for further ongoing success Sweden . Increase relative share growth . Improve Tiger Shoes . Build on and accelerate of controlled space performance current success . Test stores indicate potential as stand- alone brand

International . Germany is highest . Long-term focus for . Focus on being a . Focus on being a priority market followed growth strong product strong product by UK and France supplement to Tiger supplement to Tiger . Tiger Man Man internationally Man internationally supplemented with . Mid-term focus for selected Tiger Jeans growth products and accessories and shoes

6 Germany is our highest priority market outside the Nordics New strategy launched 2011 has worked well so far

Unstable development New strategy

New strategy 77 . Change of agent . Meet competition head on (products & price points) . Focus on department stores . Locally coordinated branding 56 activities 52%

30

4% 17 13 14 10

2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15

7 And we continue to show very strong performance in Germany on all channels

Wholesale is performing above all expectations (42% growth 2014/15 and 32% growth H1 2015/16)

German E-shop shows very strong growth (20% growth 2014/15 and 56% growth H1 2015/16)

Our only current retail store in Düsseldorf shows acceptable performance despite a less than optimal location (11% growth 2014/15)

8 Next step is store roll-out SS 7 cities in Germany have been targeted Thoroughly selected AAA location targeted

Inhabitants (thousands) 1,734 Unemployment rate 7.4 % Inhabitants (thousands) 3,375 Purchasing Power index 109.5 Unemployment rate 11.7 % Turnover index 122.3 Purchasing Power index 96.6 Centrality index 1.12 Hamburg Turnover index 102.3 Inhabitants (thousands) 594 Centrality index 1.06 Unemployment rate 8.8 % Inhabitants (thousands) 598 Purchasing Power index 118.5 Unemployment rate 5.6 % Turnover index 141 Purchasing Power index 111.5 Centrality index 1.19 Düsseldorf Turnover index 135.9 Inhabitants (thousands) 1,024 Cologne Centrality index 1.22 Unemployment rate 9.6 % Inhabitants (thousands) 1,388 Purchasing Power index 110.1 Frankfurt Unemployment rate 5.2 % Turnover index 133.6 Purchasing Power index 129.3 Centrality index 1.21 Turnover index 146.8 Inhabitants (thousands) 688 Centrality index 1.14 Unemployment rate 7.4 % Stuttgart

Purchasing Power index 114.6 Turnover index measures retail turnover compared to country average Munich Centrality index measures the ability of an area to pin retail spending Turnover index 121.0 compared to the surrounding area. An index value above 1 indicates that an area ties more retail spending to itself compared to what it emits. Centrality index 1.06

Source: BNP Baribas Real Estate, 2015 9 Well-defined store concept

. Menswear store (Tiger Man 85%, Jeans, 10% . Relevant global and domestic competitors (e.g. Male Accessories and Shoes 5%) Right Drykorn, Hugo Boss, etc.) Focus . Ideal store size: ~120 m2 Neighbors . Other relevant Premium brands

. Preferably one floor store . High traffic shopping street Strong . Preferably corner position or two windows and High . Right traffic – High ratio of potential consumers Basics entrance frontage Traffic

10 A clustering approach allows us to focus and monitor our performance city by city

1. Open concept stores in one city at the time to get high leverage on investments

2. Invest in local marketing to support store

opening and build brand awareness

3. Support current key accounts with

investments to build shop-in-shops and 1. Store marketing activities

2. Local

marketing 4. Target new accounts to increase distribution

in cluster area 3. Support current

accounts 5. Support overall business with own

4. Target new E-commerce accounts 6. Move on to the next city 5. Strong own E-com

6. Next city

11 The first store in the roll-out plan opened today in Berlin Mitte on Neue Schönhauser Straße 9

12 Key take-aways

. Strong market position in the Nordics with room for further growth – Very strong position with Tiger Man – Woman, Accessories and Tiger Jeans have not reached full potential

. In the beginning of an international breakthrough – Key focus on Germany to become next growth engine – Also high focus on UK and France to build a European brand

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