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ANNUAL REPORT HIGHLIGHTS 2020 €1,958.2 M NMV +25.7% Yoy 42.0 M ORDERS 2 +21.4% Yoy 16.3 M ACTIVE CUSTOMERS +24.6% Yoy 1.2% ADJ

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ANNUAL REPORT HIGHLIGHTS 2020 €1,958.2 M NMV +25.7% Yoy 42.0 M ORDERS 2 +21.4% Yoy 16.3 M ACTIVE CUSTOMERS +24.6% Yoy 1.2% ADJ 2020 ANNUAL REPORT HIGHLIGHTS 2020 €1,958.2 M NMV +25.7% yoy 42.0 M ORDERS 2 +21.4% yoy 16.3 M ACTIVE CUSTOMERS +24.6% yoy 1.2% ADJ. EBITDA MARGIN First Adjusted EBITDA positive full year GFG 2020 | 31% eport MARKETPLACE R SHARE OF NMV nnual A Highlights 2020 +10.3% yoy GFG 2020 | Highlights 2020 eport R nnual A FINANCIAL SUMMARY AND KEY PERFORMANCE INDICATORS 2020 2019 Financial performance Revenue (€m) 1,359.7 1,346.0 3 Growth at constant currency (%) 15.3 17.2 Gross profit (€m) 586.2 539.8 Loss before interest and taxes (EBIT) (€m) (64.8) (125.1) Loss for the year (€m) (112.4) (144.6) Adjusted EBITDA (€m) 16.4 (37.1) Adjusted EBITDA/Revenue (%) 1.2 (2.8) Capex (€m) 48.7 72.1 Financial position Net working capital (€m) (1.4) (12.0) Cash and cash equivalents (€m) 366.1 277.3 Pro-forma cash (€m) 372.4 300.8 Group KPIs NMV (€m) 1,958.2 1,777.8 Growth at constant currency (%) 25.7 23.0 Active customers (m) 16.3 13.1 NMV/Active Customer (€) 120.3 136.1 Number of orders (m) 42.0 34.6 Order frequency 2.6 2.6 Average order value (€) 46.6 51.3 See Financial Definition section 7.1 FASHION. WORLDWIDE. WE ARE THE LEADING FASHION AND LIFESTYLE DESTINATION IN 4 GROWTH MARKETS. Our purpose is true self-expression. From our people, to our customers and partners, we exist to empower everyone to express their true selves through fashion. We are the leading fashion & lifestyle destination in Latin America, the CIS, South East Asia and ANZ, connecting over 10,000 global, local and own fashion brands to a market of more than one billion potential consumers. GFG 2020 | eport LATAM CIS SEA ANZ R nnual A GFG Contents 2020 | eport R nnual A TO OUR SHAREHOLDERS 6 1.1 Letter to our Shareholders 7 1.2 Report of the Supervisory Board 15 1.3 – 1.8 Corporate Governance Report 22 GROUP MANAGEMENT REPORT 54 2.1 – 2.5 Fundamental Information about the Group 56 2.6 – 2.10 Report on Economic Position 66 2.11 Report on Post Balance Sheet Events 75 2.12 – 2.13 Report on Risks and Opportunities 76 2.14 Report on Expected Development and Outlook 84 INDEPENDENT AUDITOR´S REPORT 86 CONSOLI DATED FINANCIAL STATE MENTS 94 4.1 Consolidated Statement of Profit or Loss 96 4.2 Consolidated Statement of Comprehensive Income 97 4.3 Consolidated Statement of Financial Position 98 4.4 Consolidated Statement of Changes in Equity 100 4.5 Consolidated Statement of Cash Flows 102 5 Notes to the Consolidated Financial Statements 104 RESPONSIBILITY STATEMENT 168 ADDITIONAL INFORMATION 170 7.1 Financial Definitions 170 7.2 Financial Calendar 172 7.3 Information Resources 172 THE MANAGEMENT BOARD 6 Christoph Patrick Matthew Barchewitz Schmidt Price Co-CEO Co-CEO CFO GFG 2020 | eport R nnual A Letter to our Shareholders GFG 2020 | eport R Letter to our Shareholders nnual A 1.1 LETTER TO OUR SHAREHOLDERS DEAR SHAREHOLDERS AND OTHER STAKEHOLDERS, It now goes without saying that 2020 was an unprecedented year for the world, and it certainly was a pivotal year for Global Fashion Group. We were not alone in having the agility and resilience of our people and operations tested like never before, but the result is a business that is now stronger, more collaborative, and more confident in accelerating growth via the considerable opportunities available to us. This is in huge part to the efforts of our colleagues around the world, who have demonstrated passion, grit and resourcefulness operating the One billion business in circumstances we could not have imagined a year ago. people spending approximately 7 Pre-pandemic, our fashion and lifestyle market was large, with one €300 billion annually billion people spending approximately €300 billion annually and rapidly shifting that spend online. By the end of 2020, ecommerce penetration in our markets had grown from 7% to nearly 13%, as many consumers tried online shopping for the first time during the pandemic. While the offline world will inevitably (and welcomely) reopen, the behaviour shift has been set and we expect online shopping to become a growing habit for consumers in our markets. Our platforms are developed to power this habit by delivering the best-in-class customer experience. The pandemic has thrown up challenges to how we do this, but we never lost sight of our customer focus or our purpose of enabling their true self- expression. So when our customers stopped needing dresses and heels for parties or business shirts for work, we pivoted into lockdown-winning categories such as loungewear and sport. We rapidly adapted our operations to be COVID-safe, with our teams working tirelessly to ensure orders continued to be delivered quickly and safely. We maintained our commitment to sustainability and our long-term vision by rolling out sustainable shopping edits to all of our regions. As a result of our unwavering customer focus, we grew our active customer base by 24.6% to 16.3 million customers − the highest growth we’ve seen for many years. With over 16 million customers and over 2 billion visits per year, we are the partner of choice for brands in our markets. In 2020, we strengthened many of our top global brand partnerships, applying a flexible and innovative approach to partnership models. Our unique Marketplace capabilities, for example, have created a win-win outcome by enabling us to drive significant sales growth for ourselves and our brand partners while maintaining our cash discipline. We have achieved a succession of financial milestones As a result, we have achieved a succession of financial milestones this this past year past year. In terms of results, we have generated our first year of positive Adjusted EBITDA − one year ahead of schedule. In November, we placed our first post-IPO equity issuance, raising €120 million to fund the acceleration of our mid-term strategy. The additional capital materially strengthens our ability to invest behind new areas of our business such as our Platform Services, and to pursue other adjacent opportunities that further embed our role in the digital fashion ecosystem. To conclude this letter, we return to our opening sentiment − that we have never been more confident in GFG and its growth prospects. As we look back on the achievements since our inception ten years ago, and at the immense opportunity ahead, we believe we can build a €10 billion NMV business in the next seven to nine years. We have the market leadership, we have the firepower, and most importantly, we have the team to deliver another decade of exceptional performance. Thank you for your continued trust and support. 8 Christoph Barchewitz, Co-CEO Patrick Schmidt, Co-CEO Matthew Price, CFO GFG 2020 | eport R nnual A Letter to our Shareholders 9 Annual Report 2020 | GFG Letter to our Shareholders WHO WE ARE OUR VISION IS TO BE THE #1 FASHION AND LIFESTYLE DESTINATION IN OUR MARKETS. OUR PURPOSE IS TO ENABLE TRUE SELF-EXPRESSION. OUR AMBITION The #1 fashion and lifestyle destination for customers. combined with an increased focus on adjacent and The #1 fashion and lifestyle partner for leading brands. opportunistic categories, our ambition is to build a The #1 in the fashion and lifestyle market. €10 billion NMV business in the next 7-9 years. OUR OPPORTUNITY There are one billion people living in our 17 countries of GFG operates in a large and growing market where online operation − a growing ~€300 billion fashion and lifestyle penetration is accelerating. By focusing on key growth market. COVID-19 has accelerated online adoption across levers, such as active customer and order frequency, our markets, which retain attractive long-term potential. 10 We are only at the beginning of reaching our market potential. RUSSIA UKRAINE KAZAKHSTAN BELARUS INDONESIA THE PHILIPPINES SINGAPORE GFG MALAYSIA BRUNEI BRAZIL TAIWAN 2020 | COLOMBIA HONG KONG ARGENTINA AUSTRALIA eport CHILE NEW ZEALAND R nnual A WHO WE ARE GFG 2020 | Physical and mental health and WHO WE ARE wellbeing of our employees, as well eport as our customers, is a top priority. R nnual A 11 WE PROTECT OUR TEAM AND OUR CUSTOMERS The COVID-19 pandemic has disrupted business The Group continued to work closely with its brand operations around the world. We focused our response on partners to adjust inventory intake and assortment to rapid adoption of protocols that put the physical and reflect the reality of lockdown conditions and customers mental health and wellbeing of our employees, as well as spending more time at home. GFG observed and our customers, as a top priority. Fulfillment centers in responded to, a marked shift away from occasion and Argentina and the Philippines were the only sites affected business wear, to loungewear, casualwear and sportswear. by forced closure for c.30 and 40 days respectively. In CIS, In line with rapidly changing customer needs, GFG also Lamoda more than doubled courier delivery capacity to accelerated the roll out of categories including Beauty, address the increased demand while pick-up points were Home and Kids through a combination of the Marketplace temporarily closed. and Retail business models. HOW WE WIN OUR STRATEGIC PRIORITIES We are the leading fashion and lifestyle destination in our markets for three reasons: we combine a global platform with real local expertise on the ground, we offer a best-in-class customer experience and we are the strategic partner of choice for brands in our markets. Our strategic priorities have proven to be strong and we are progressing on them continuously.
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