THE PASSION FOR FASHION Index Who we are 3 Our brands 7 Our store concepts 8 > Modiana - Rural 9 > Modiana - Urban 10 > Modiana - Urban XL 11 > Maxi 12 > Modiana - Outlet 14 > Fashion point 15 > Beautique 16 > Concept 4 tomorrow 17 Conclusion 20 Who we are Private Label Brands > “The people’s brand” of fashion and jeans since 1908 Montecristo Group > More than 40 sales partners in over 100 countries > Part of our portfolio in 2011 with a 30 year license

ontecristo Group owns and develops a portfolio of important > Currently one of the largest mono brand networks worldwide

Mconsumer brands as Kenvelo, Lee cooper, and Timeout. Cooper Lee Retail Sales in 2015: 17.181.709 € Main competitors: Mustang, Wrangler, Levis

Through its in-house business development, merchandising, advertising and public relations department, Montecristo Group > An international brand with the fastest expansion in sportswear in eastern Europe manages its brands to drive greater consumer awareness and equity. > On the market since 1989 as a line of jeans, which gradually evolved to sportswear (T-shirts, shirts, sweaters and accessories) Kenvelo Montecristo Group is currently covering the following territo- > Affordable price level, with a constantly enriched basic collection ries: , , Bolgaria and through the Retail Sales in 2015: 37.257.839 € Main competitors: Terranova, New Yorker, Tally Weijl HQ offices based in Romania; and Slovenia, , and Bosnia & Hercegovina through offices based in Slovenia.In Romania > International affordable lifestyle brand that embodies the unique California it operates with 98 stores, being a leader in the retail fashion industry free spirit way of life for a loyal and growing consumer base on the territory. Combined, Montecristo Group currently manages > Full range of men/women clothing and accessories more than 200 stores throughout these territories.

Time Out Time > Brands policy is to provide high quality products at accessible prices

Retail Sales in 2015: 15.787.110 € Montecristo Group is a 70% investor into a Modiana venture. Main competitors: S.Oliver, Tom Tailor, Esprit 3 Who we are Montecristo SL

ONTECRISTO SL is a fashion retailing company located Min Slovenia, which through the acqusition of Modiana, former textile and beauty division of Mercator group, dates back to 1964, when it started with Modna hiša (fashion house) 103 shops retail store in Maribor city. Today, the network consists of more 2 than 100 stores, about 700 employees and 48.000 m2 of retail 48.000 m of sales area sales area throughout the territory of Slovenia, Croatia, Serbia and 66,2 mio EUR of turnover Bosnia & Hercegovina. 700 employees

Through its history, Modiana has evolved into one of the highly recognized fashion retailer on the territory, with a variety of shop concepts and brands, covering a large segment of buyers in a wide list of mid-price range fashion brands.

Own store brands Above data is for year 2015 4 Who we are

36,6 mio EUR 42 textile stores, 7 drugstores Our vision 2 29.659 m of retail sales area … is to be one of three most important textile retailers of quality and fashionable Hungary textile for affordable prices in our region. Slovenia Romania Croatia

15,7 mio EUR Bosnia 28 textile stores & Hercegovina Serbia 12.619 m2 of retail sales area 7,6 mio EUR 8 textile stores, 5 drugstores 6.133 m2 of retail sales area Montenegro

Italy Our mission Macedonia … is creating long term relationships with customers - fashion oriented individuals, 6,3 mio EUR offering them best value/cost in fashion. 9 textile stores, 4 drugstores 4.702 m2 of retail sales area

5 *data for year 2015 Who we are Competent Management

Goran Kristan Klemen Boštjančič President of the Board, CEO Board Member > 20 years of experience in fashion business > 10 years of experience in Turnaround > 15 years of experience in Executive positions > From 2013 advisor at numerous Restructuring and M&A processes at successful European Vertical fashion retailers > Executive positions > Experience in M&A processes > 2007 – 2011 Mineral d.d. (successfully finished several M&A > 2011 – 2012 Adria Airways d.d. transactions with over € 50m of total volume) > 2013 Trimo d.d. > 30% investor into a Modiana business venture > Non-executive positions (Supervisory Board Member) > Owner of private medical clinic Barsos MC > 2010 Vegrad d.d. in Ljubljana, the capital of Slovenia > 2013 – 2016 Intereuropa d.d., Merkur Trgovina d.d.

Tomaž Gorjup Klemen Bavdek COO - Chief Operating Officer CLO - Chief Logistics Officer > 18 years of experience in IT business, with previous engagement > 20 years of experience in logistics business and a recepient in Studio Moderna Holdings as their CIO of Slovene Logistic Manager of the year Award (2014) 6 Our brands Men Women Kids Tom Tailor / Tommy Hilfiger / S.Oliver / Gerry Weber / Taifun / Samoon / Lebek / Benetton / Name It / S.Oliver / Tom Tailor / Ragman / Brax / Meyer / Gant / Milestone / Betty Barclay / Benetton / Tommy Hilfiger Desigual Strellson / Benvenuto / Venti / Casa Moda / / Only / S.Oliver / Tom Tailor / Comma / Urko / Pionier / Seidensticker / Eterna / Guess Jeans / Desigual / Rinascimento / Liu Jo / Piere Cardin / LeeCooper* / Passarella / LeeCooper* / Timeout* / KVL* Timeout* / KVL* Underwear Accessories & Shoes Skiny / Triumph / Lisca / Schiesser / Palmers Tom Tailor / Gerry Weber / Tommy Hilfiger / Only / / Mane Meili / Benetton Undercolors S. Oliver / Desigual / Braccialini / Benetton / Tosca Blu / Ara / Gabor / Nerogiardini / Peter Kaiser / Guess Jeans / Bugatti Cosmetics Chanel / Christian Dior / Lancome / Shiseido / Collistar / L’occitane / Guerlain / La Prairie / Armani / Clarins / La Prerie / Estee Lauder / YSL / Bvulgari / Calvin Kline / Hauschka

*private label brands 7 Our store concepts

e have established various store concepts during Wdecades of our presence on the territory we cover, always adapting to the latest trends, from successfully covering rural areas of Slovenia and Croatia, to being present on top locations inside the city centres and shopping malls.

Either a “monobrand” store (Benneton, Sisley, ...), a “multibrand” store (Modiana - Rural, Modiana - Urban, Avenija mode, Fashion point) or a deparment store (Maxi, Modna hiša), our store concepts are fitted to the represented brands and customers needs.

8 Modiana - Rural MULTIBRAND STORE Appropriate for local markets or locations in department stores and minor cities.

80 - 650 m2 of sales area space 50 stores

TARGET CUSTOMER: > customers with medium to high purchasing power > less concerned with fashion trends and prestigious brands > predominantly loyal to their brand > expect comfort, pleasure, advice, and service > aged 40 years or more > quality standard apparel at medium price range

9 Modiana - Urban MULTIBRAND STORE Well known international brands, domestic brands, private label brands, located mainly in shopping malls or locations in major towns and cities.

250 - 900 m2 of sales area space 20 stores

TARGET CUSTOMER: > customers with medium to high purchasing power > looking for better offer of well-known brands, also reaching for high fashion brands > aged 35 years or more > requiring and expecting more from their shopping in terms of offer, service, and store equipment.

10 Modiana - Urban XL MULTIBRAND / DEPARTMENT STORE Well known international brands, domestic brands, private label brands, located mainly in shopping malls or locations in major towns and cities.

>1.500 m2 of sales area space 5 stores

TARGET CUSTOMER: > customers with medium to high purchasing power > fashionista looking for offer of TOP international high fashion brands > aged 35 years or more > requiring and expecting more from their shopping in terms of offer, service, and store equipment.

11 Maxi UP-SCALE DEPARTMENT STORE Maxi, Slovenia’s first all-round department store, offers cosmetic products, footwear, clothing and fashion accessories from renowned fashion designers on the two floors of its renovated sales area. The department store has more than 40-year history of being a leading department store on the market of Slovenia, always offering best merchandise to the sophisticated customers.

>6.000 m2 of sales area space

TARGET CUSTOMER: > customers with higher-than-average income > fashionista looking for offer of TOP international high fashion brands > aged 35 years or more > requiring and expecting more from their shopping in terms of offer, service, and store equipment.

12 Maxi - fashion brands

Men Women Kids Alberto / Baldessarini / Benvenutto / Armani Jeans / Basler / Cecilia Benetti / Legowear / Tommy Hilfiger Eduard Dressler / Fred Perry / Gant Cinzia Rocca / Conte of Florence / Deha / Lilak / Marc Aurel / Marc Cain / Stefanel Underwear Accessories & Shoes Amman / Calida / Jockey / Armani Jeans / Bugatti / Braccialini / Conte of Florence / Fabi / CK - Calvin Klein / Tommy Hilfiger / Fred Perry / Gant / Hogl / Moschino / Nerogiardini / Peter Kaiser / Palmers Timberland / Trussardi / Picard / Tosca Blu / Zocal / Picard

All above brands are additional to the Modiana Urban store concept. 13 Modiana - Outlet MULTIBRAND STORE Located in city periphery Intended for sale of apparel from previous seasons, at discounted – lowest possible – prices. Offer of goods and brands is more narrow and shallow than in other specialized textile store formats.

300 m2 of sales area space 4 stores (2017)

TARGET CUSTOMER: > price-sensitive, rational shopper less concerned with season fashion trends quality standard apparel of the medium price range; they are predominantly loyal to their brand.

14 Fashion point MULTIBRAND STORE Private label (LeeCooper, KVL, Timeout) new multibrand store concept, ideal for representation in high frequency shopping mall locations.

300 - 500 m2 of sales area space

TARGET CUSTOMER: > customers with price-sensitive to medium to high purchasing power

Montecristo Retail, Blvd. Basarabia 256, Bucharest, Romania Montecristo Retail, Blvd. Basarabia 256, Bucharest, Romania > young middle level to management looking for casual Montecristo Retail, Blvd. Basarabia 256, Bucharest, Romania Montecristo Retail, Blvd. Basarabia 256, Bucharest, Romania and classic-well-cut clothes > aged between 16-40 years > requiring and expecting more from their shopping in terms of offer, service, and store equipment.

15

Montecristo Retail, Blvd. Basarabia 256, Bucharest, Romania Beautique MULTIBRAND COSMETIC STORE Sales unit offering drugstore products of globally renowned cosmetics lines categorized into perfume shops and drugstores (given the price range, depth and scope of offer). It carries a wide offer of 207 different brands. Mostly located in shopping malls and inside own department stores.

60 - 300 m2 of sales area space 17 stores

16 350 m2 Concept 4 tomorrow floor plan combined of assortment for younger & MULTIBRAND STORE older customers me New concept of a multibrand men & women store, with a possible nl nee addition of kids (+50 m2) and underwear (+50 m2) assortment and up-scale with brands as Fracomina, Brax etc. aman me

> 350 m2 of sales area space lve ee e e ee m ld e ee ee adn TARGET CUSTOMER: amna m Kenvel n > customers with medium to high purchasing power > young middle level to management fashionista looking for casual le me m and classic-well-cut clothes of well known brands > aged between 16-40 years d m > requiring and expecting more from their shopping in terms of offer, service, and store equipment.

ld

n 17 300 m2 Concept 4 tomorrow floor plan combined of private label assortment with an addition of FASHION POINT & FRIENDS other complementary brands Private label (LeeCooper, KVL, Timeout) multibrand store concept, with an addition of other complementary brands as Tom Tailor, S.Oliver and/or Bestseller brands. me nl nee 2 > 300 m of sales area space aman

me

lve TARGET CUSTOMER: ee e e ee m ld e ee > customers with price-sensitive to medium to high purchasing power > young middle level to management looking for casual ee adn amna m Kenvel n and classic-well-cut clothes > aged between 16-40 years le me m > requiring and expecting more from their shopping in terms of offer, service, and store equipment. d m

18 ld

n Concept 4 tomorrow 80 - 110 m2 TimeOut of a monobrand merchandise Pioneer MONOBRAND STORES selection Rag We have a plan of opening various monobrand stores thmanroughout a lucrative combination of individual store-concept, merhandise S.Oliv selection and logistic support. er Ger Old G ry erry Weber Weber - 110 m 2 2 > 80 - 110 m of sales area space Pier re Cardin oung Fr Y acomina - 110 m2

itS tyle cosmetics - 80 m2

TARGET CUSTOMER: > customers with price-sensitive to medium to high purchasing power > aged between 16-40 years > requiring and expeOld cting more from their shopping

Young

19 Conclusion

MONTECRISTO IN 2016 MONTECRISTO IN 2020

> More than 40 years > Most diversified fashion of successful history in sales brand assortment in own of fashion brands store network on the territory

> Competent management > Leading market share with clear plans for the future on the territory development > Leader in on-line > Great assortment of fashion shopping logistics brands represented through different store concepts

20 Montecristo SL, clothing store Ltd.