WHERE DO WE STAND FOR AND WHERE DO WE GO DOES BRUNOTTI, AS A SMALLER PLAYER WITH ONLY NORTH EUROPEAN DISTRIBUTION, HAVE A SURVIVAL RIGHT IN THE VAST CHANGING DISTRIBUTION OF APPAREL AND HARDWARE WHERE DO WE STAND FOR WHAT HAPPENED 2019

• 27 Nov 2018, PE after 7,5 year left the company • 2015/2016 loss making years. Cash Flow problems since 2016 • New Shareholders structure by the end of the year, fresh money in the company. • Brunotti 3.0 / Cut in Costs / Efficiency / but also invest. • New accountant after KPMG. 01/01/2019 New CFO • 2017 & 2018 profitable � • sales 2019 was stable (pre-sales up, replenishment/NOOS down) , margin down. • 29/11/2019 new Factor Bank : ABNAMRO ABF (Factoring) • still not there, but feel more comfortable, but we will get there as of 2020. • THANK YOU ! WHERE DO WE WANT TO GOV

• Become a top 3 Player in Europe in the All Boardsports lifestyle segment. • O’Neill / / / Rip Curl / Vissla / Picture / Rehall / Protest/ I-/ Duotone/ North / Mystic. WHAT IS OUR STRATEGY

• A-brand strategy / Brand Values / we will never go back to a trading house • 2020 is a Step by Step strategy. For bigger steps we need bigger money • Profitable is more important then turnover • Distribution segmentation / Product segmentation (schema) • Sport / boardsports / jeans-Fashion / Travel retail / bags • Omni Channel strategy / Multichannel strategy • Wholesale • Retail/outlet strategy • e-com Wholesale / Longtail • consignment • Put the consumer CENTRAL, think and act more like a retailer/consumer in everything we do. After delivery the game starts CHALLENGES/ THREATS

• Margin pressure (Turnover – costs) • # Brunotti needs minimum 20% after salescosts in order to survive • # Margin has gone down in 2019 for several reasons. • Changing retail environment, who will survive • # The bigger get bigger and demand more • # Sales figures are more important then buying figures, what is the role of the supplier or an agent, we become more & more retailers. • Too little fine distribution (not visible) too much big boys. • E-com changing to Long Tail / Platforms. • Changing of pre-sales from summer-winter to many more collections/contact moments/ Noos /Replenishment. • Changing in sales structures/model. • Our role in summer • Get Hardware in the market and Break Even CHANCES

• Offer added Value as a Brand and as a Company. • Innovation as Brand = Collection & as Company. • Omnichannel (Multichannel) : Wholesale (3 segments Sport-Boards-Jeans/Fashion) -E-com – Consignment - Outlet- (future) single brand Brunotti Stores. • Productdifferientation , the right product for the right Distribution. • E-com. • Autonomic sales & collection. • Sustainability & Slow Fashion against Fast Fashion / Reduce – Re-Use - Recycle • IT / New ERP system / connecting to retail / Efficiency • NOOS / Replenishment growth / JIT (Just in Time products) • EXPORT : we are not yet in France, UK, Spain, Portugal, Scandinavia…………………. • Licenses outside Europe • Nike/ & a lot of outdoorbrands will go direct to the consumers, less wholesaleA 2020 GOALS

• Efficiency, Efficiency, Efficiency • Brunotti 3.0 • IT / EDI / New ERP as of 01-01-2020 • New strong Dutch sales team / vertical sales / top down, • Autonomic sales / JIT • Development will work with 2 teams on ladies/man. • Improve our sustainability and make it marketing ready. • Brunotti totally will go into the cloud • Goal is 1 tot 2 own Outlets extra ( € 1,1 to € 1,3 million turnover) • Get Boards / Hardware Break even WE WILL BECOME A LEAN, MEAN, CLEAN FIGHTING MACHINE WE WILL BE ADAPTIVE & QUICK... WE WILL BE THE COCKROACH!