COTY ICONIC BRAND BUILDER BARCLAYS BACK TO SCHOOL CONFERENCE September 3, 2019 1 WE HAVE A strong asset base and a roadmap to unlock significant value 2 STRONG ASSET BASE A DIVERSIFIED BEAUTY COMPANY Coty competes in key segments LUXURY MASS PROFESSIONAL Coty’s product portfolio covers key categories FRAGRANCES HAIRCARE BODYCARE COSMETICS SKINCARE 4 LUXURY BUSINESS COTY IS THE GLOBAL LEADER IN FRAGRANCES #1 Global Fragrance Maker 3 out of Top 10 Luxury Fragrance Brands Average remaining license life ~8 years 5 LUXURY BUSINESS Coty luxury net revenues growing in-line to ahead of global luxury fragrance market 6.0% 5.2% Steadily improving margins, with room 4.7% for further expansion 4.1% 1.9% -1.1% FY17 FY18 FY19 Global Luxury Coty Luxury Operating Fragrances YoY Net Revenue YoY Margin 6 Source: NPD, Euromonitor, Coty estimates LUXURY BUSINESS Opportunity to leverage brands into adjacent categories Market Size ($Bn) ▪ License agreements allow expansion into cosmetics and skincare COTY #1 Share ▪ Major growth opportunities in the ~$24B luxury cosmetics and ~$35B luxury skincare segments $40 Luxury ▪ Gucci make-up relaunch off to a very strong Skincare Segment start Luxury Fragrance $30 Segment Luxury Cosmetics Segment $20 $10 3% 4% 5% 6% 7% 8% Estimated Next 5Y CAGR 7 Source: NPD, Euromonitor, Coty estimates GUCCI MAKE-UP LINE RELAUNCH OFF TO A VERY STRONG START ▪ 33K lipsticks sold in 1 store on 1st day ▪ More than 1 million lipsticks sold in the first two months ▪ Strong momentum online, with e-commerce at 55% of Gucci lipstick sales 8 SIGNIFICANT UNTAPPED POTENTIAL IN SKINCARE <$100M in ~$200M in Revenues Revenues #6 skincare brand in #6 Skincare brand the U.S. in China Sephora 9 PROFESSIONAL BEAUTY COTY IS A LEADER IN SALON HAIR High loyalty and barriers to entry Salon customers’ repeat purchase rate is >13x that of retail beauty consumers 10 WELLA #1 SALON HAIR COLOR BRAND Majority of our salon customers have been buying Wella for >9 years Strongly positioned for further growth 11 BRANDS WITH SIGNIFICANT GROWTH POTENTIAL >$200M in Revenues U.S. still >55% of revenues 60%+ awareness and top 5 brand power in several additional key beauty markets ~$300M in Revenues Top 5 markets still >70% of revenues Reaching double-digit % awareness in 4 additional markets 12 COTY’S FIRST ECO-ETHICAL BRAND Haircare brand, offering a range of natural, vegan and cruelty-free products 93% to 99.7% natural origin, 100% recyclable packaging Natural personal care market currently ~$4B and expected to grow ~5x in next 5 years Example of white space opportunity 13 Source: Kline, Transparency Market Research STRONG E-COMMERCE MOMENTUM Across all divisions E-Commerce Penetration (% of Net Revenues, excludes Younique) 14% >30% Rev ~30% Rev Growth 12% Growth >30% Rev Growth 10% High single digits penetration 8% Mid single digits >25% Rev penetration 6% Growth 4% 2% Luxury Consumer Beauty Professional Beauty TOTAL COTY (ex Younique) FY18 FY19 14 SIGNIFICANT VALUE IN Luxury Professional & Beauty Combined for ~68% of Coty EBITDA 15 A CLEAR PATH FOR IMPROVEMENT IN CONSUMER BEAUTY 16 MASS BEAUTY SEGMENT IN MODERATE DECLINE Opportunity for value creation through growing premium mass segment Mainstream Value Coty US Premium Mass Mass Mass LFL ▪ Context: Measured mass beauty 11% segment declining -1-2% annually in the last 3 years 5% ▪ Drivers: Growing penetration of indie brands in unmeasured Total Mass Beauty: channels -1% to -2% -7% -10% ▪ Our goal: Moderate revenue decline through premiumization of our brands to be in line with US Color Cosmetics CAGR (‘16-’18) the market of -1-2% by FY23 Coty US Consumer Beauty LFL CAGR (FY17-FY19) 17 *Coty US Consumer Beauty excludes Younique Source: Nielsen, Coty Inc CONSUMER BEAUTY Strong competitive position in key beauty geographies Color Cosmetics Hair Coloring & Styling Mass Fragrances & Body Care ¹ Nail category only ² Hair Styling only 18 ³ For Germany, refers to share in Mass Fragrances; in Brazil, refers to share in Body Care Source: Nielsen INCREASE AT-SCALE ADVERTISING TO MORE BRANDS AND MARKETS Example brands Number of priority brands in key markets supported through advertising at-scale 3x 19 RIMMEL WONDER’LUXE CASE STUDY ▪ Rimmel Wonder’Luxe launches in the UK at 12% Rimmel Wonder'Luxe UK Ranking premium to existing Wonder range Launch Month Month 6 Month 7 ▪ With substantially increased TV support in recent 3 months, Wonder’Luxe now #3 mascara in the UK 5 and #1 for Rimmel ▪ Rimmel gains 0.4 points of market share, following share losses 15 PLANNED ACTIONS TV SUPPORT AIRS Launch premium innovation and support with 4x increase to advertising relative to FY19 Source: Nielsen, Coty Inc 20 CREATE VALUE BY REVERSING PRICE EROSION IN OUR CATEGORIES AND BRANDS Coty sample brand price index relative to direct Coty priced competitor brand higher Coty price index vs. competition = 100% priced lower Coty Past Yesterday Going Past Yesterday Going Past Yesterday Going Past Yesterday Going Forward Forward Forward Forward 21 ACCELERATE HERO SUB-BRANDS IN ORDER TO BUILD BIGGER, SIMPLER BRANDS Share of hero sub-brands 22 GRADUALLY RATIONALIZE OUR SKUS Simplifies our business and drives gross margin expansion SKU Mapping of Top Cosmetics Brand in Key Market High Value Accelerate Growth Engineer ~15% of SKUs ~38% of SKUs ~10% of ~70% of revenues revenues Rationalize Reduce Complexity ~22% of SKUs ~25% of SKUs ~10% of revenues ~10% of revenues SKU Relevance / productivity Low SKU Gross Margin High 23 ROADMAP TO HEALTHIER CONSUMER BEAUTY BUSINESS Executional gaps have impacted profitability for Consumer Beauty – 32% of Coty EBITDA Our action plans target stabilizing revenue and expanding margins 24 COMPELLING INVESTMENT OPPORTUNITY OUR OBJECTIVES FY23 Targets Net revenues growth 0 to 2% (constant FX & scope) (stable FY23 vs FY19) Adjusted Operating Margin 14% to 16% Free Cash Flow ~$1 billion Net Debt to EBITDA Less than 4x 26 PROFITS - BUILDING SUSTAINABLE INCOME GROWTH Assortment Promotion Mix / Value Innovation ~40% of gross margin expansion Productivity Net Revenues COGS SKU Reduction ~60% of gross margin expansion Gross Margin (>5%) Advertising Fixed Cost Organization Working Media delayering Digital & Traditional Mutualizing Operating Income support functions (Margin +3-5%) FCF Net Debt EPS 27 STRONG FINANCIAL POSITION AND PATH TO DELEVERAGE ▪ Ample liquidity and no major maturities until FY23 ▪ Financing conditions allow flexibility ▪ Generating positive free cash flow, which will steadily increase to over $1Bn by FY23 and drive debt paydown OUR NEW PATH STARTS NOW FY20 Outlook LFL NET REVENUES Stable to slightly down YoY ADJUSTED OI +5-10% YoY (At Constant Scope Strong A&CP reinvestment and Currency) ADJUSTED EPS Mid-single digit growth YoY FREE CASH FLOW Moderate improvement YoY We have a strong asset base, and a roadmap to unlock significant value 30 DISCLAIMER Forward-Looking Statements Certain statements in this presentation are forward-looking statements. These forward-looking statements reflect Coty Inc.’s (“Coty’s”) current views with respect to, among other things, Coty’s Turnaround Plan, strategic planning, targets, segment reporting and outlook for fiscal year 2020 and future reporting periods (including the extent and timing of revenue, profit and EPS trends and changes in operating cash flows and cash flows from operating activities and investing activities); Coty’s future operations and strategy, allocation and amount of advertising and consumer promotion costs, allocation and amount of research and development investments, ongoing and future cost efficiency and restructuring initiatives and programs (including the expected timing and impact), investments, licenses and portfolio changes, synergies, savings, performance, cost, timing and integration of acquisitions, future cash flows, liquidity and borrowing capacity, timing and size of cash outflows and debt deleveraging, the performance of launches or relaunches, the timing and impact of current or future destocking or shelf spaces losses, the impact and timing of supply chain disruptions and the resolution thereof, timing and extent of any future impairments, and the synergies, savings, impact, cost, timing and implementation of Coty’s Turnaround Plan, including operational and organizational structure changes, operational execution and simplification initiatives, the move of Coty’s headquarters, and the priorities of senior management. These forward-looking statements are generally identified by words or phrases, such as “anticipate”, “are going to”, “estimate”, “plan”, “project”, “expect”, “believe”, “intend”, “foresee”, “forecast”, “will”, “may”, “should”, “outlook”, “continue”, “temporary”, “target”, “aim”, “potential”, “goal” and similar words or phrases. These statements are based on certain assumptions and estimates that we consider reasonable, but are subject to a number of risks and uncertainties, many of which are beyond the control of Coty, which could cause actual results to differ materially from such statements. Such risks and uncertainties are identified in the periodic reports Coty has filed and may file with the Securities and Exchange Commission (the “SEC”) including, but not limited to: Coty’s ability successfully implement its multi-year Turnaround Plan and to develop and achieve its global business strategies, compete effectively in the beauty industry and achieve the benefits contemplated by its strategic initiatives within the expected time frame or at all, the integration of recent acquisitions with Coty’s business, operations,