ARNE ARENS GENERAL MANAGER AMERICAS, THE NORTH FACE NEVER STOP EXPLORING THE CHANGING

CONSUMER PHYSICAL EMOTIONAL

OUR CONSUMER

CREATIVE CULTURAL 17 x 17 PLAN PERFORMANCE

2016 $2.3B

2012 $1.9B

*Growth rate excludes the impact of changes in foreign currency exchange rates. OUR CONSUMER TERRITORY MODEL

MOUNTAIN ATHLETICS

CONSUMER INSIGHT NI COLE CLARK"

MOUNTAIN SPORTS MOUNTAIN LIFESTYLE URBAN EXPLORATION MOUNTAIN SPORTS The ultimate representation of Athlete Tested | Expedition Proven, a showcase of elite exploration as the foundation of our brand.

CLIMB • MOUNTAINEER • HIKE SKI • SNOWBOARD THE MOUNTAIN SPORTS OPPORTUNITY

GLOBAL OUR 2021 MARKET FOCUS TARGET

SPECIALTY $22B LEADERSHIP +4% to +6% FOOTWEAR CAGR INTERNATIONAL MOUNTAIN ATHLETICS Below every summit are thousands of hours of preparation.

RUN • TRAIN THE MOUNTAIN ATHLETICS OPPORTUNITY

GLOBAL OUR 2021 MARKET FOCUS TARGET

$63B APPAREL +11% to +13% WOMENS CAGR MOUNTAIN LIFESTYLE

The base camp is the soul of exploration.

CAMPING • LIFESTYLE THE MOUNTAIN LIFESTYLE OPPORTUNITY

GLOBAL OUR 2021 MARKET FOCUS TARGET

$25B APPAREL +8% to +10% EQUIPMENT CAGR URBAN EXPLORATION The concrete mountain of the city.

LIFESTYLE THE URBAN EXPLORATION OPPORTUNITY

GLOBAL OUR 2021 MARKET FOCUS TARGET

OUTERWEAR $72B +9% to +11% FOOTWEAR CAGR INTERNATIONAL DTC BRINGING URBAN EXPLORATION TO LIFE THE FOUR CONSUMER TERRITORY VISION WILL:

SOLIDIFY OUR GLOBAL MOUNTAIN SPORTS LEADERSHIP + ATTRACT NEW CONSUMERS TO OUR BRAND + DRIVE STRONGER YEAR ROUND RELEVANCE THE NORTH FACE GROWTH DRIVERS

1 2 3 4 RELENTLESS DIRECT-TO-CONSUMER DISTRIBUTION, AUTHENTIC FOCUS ON DESIGN AS OUR PREMIER PRODUCTIVITY & STORYTELLING & INNOVATION EXPRESSION EXPANSION & EXPERIENCES

17 1 RELENTLESS FOCUS ON DESIGN AND INNOVATION

2 DTC AS OUR PREMIER EXPRESSION SAN FRANCISCO HUB & SPOKE MODEL

FLAGSHIP POTENTIAL “HUB” STORE MOUNTAIN ATHLETICS “SPOKE” STORE

URBAN EXPLORATION “SPOKE” STORE 3 DISTRIBUTION, PRODUCTIVITY & EXPANSION MARKETPLACE EXPANSION OPPORTUNITIES

MOUNTAIN MOUNTAIN MOUNTAIN URBAN SPORTS ATHLETICS LIFESTYLE EXPLORATION

LEADERSHIP IN OUTDOOR SPECIALTY YEAR-ROUND

PRODUCTIVITY SEGMENTATION

STRATEGIC KEY ACCOUNT PARTNERSHIPS

SPORTING GOODS & ATHLETIC SPECIALTY LIFESTYLE DISTRIBUTION NEW ACCOUNT EXPANSION ONLINE RETAILERS 4 AUTHENTIC STORYTELLING & EXPERIENCES NEVER STOP COMMUNITIES LONDON | PARIS | MUNICH | STOCKHOLM

+6 NEW CITIES IN 2017 2021 GLOBAL TARGET

+6% to +8% CAGR 2021 TARGET BY CONSUMER TERRITORY

MTN ATH. MTN ATH. 7% 9%

MTN LIFE 19% MTN LIFE GLOBAL 20% 2016 2021 +6% to +8% CAGR URBAN 13% URBAN MTN MTN 15% SPORTS SPORTS 61% 56%

MOUNTAIN SPORTS MOUNTAIN ATHLETICS MOUNTAIN LIFESTYLE URBAN EXPLORATION +4% to +6% CAGR +11% to +13% CAGR +8% to +10% CAGR +9% to +11% CAGR 2021 TARGET BY REGION

EMEA EMEA 22% 23%

GLOBAL 2016 APAC 2021 10% +6% to +8% CAGR USA APAC USA 60% 11% 63% NON-US NON-US AMERICAS AMERICAS 5% 6%

USA EMEA APAC NON-US AMERICAS +4% to +6% CAGR +7% to +9% CAGR +8% to +10% CAGR +7% to +9% CAGR 2021 TARGET BY CHANNEL

WHOLESALE WHOLESALE DTC: 62% 54% DTC: STORES STORES 29% 30% GLOBAL 2016 2021 +6% to +8% CAGR DTC: DIGITAL DTC: 9% DIGITAL 16%

DTC: STORES WHOLESALE DTC: DIGITAL +7% to +9% CAGR +2% to +4% CAGR +18% to 20% CAGR +5% to +7% Store Count