November 2021

GROUP QUARTERLY REPORT AS AT 30 SEPTEMBER 2021

2 Third quarter 2021

Fielmann Group: Interim report as at 30 September 2021

Dear Shareholders,

Dear Friends of the Company,

The Fielmann Group experienced a continued recovery in the first nine months of 2021.

While footfall levels in many European cities and shopping centres have not yet fully returned to pre-crisis levels, the Fielmann Group grew significantly thanks to the loyalty of its 27 million customers as well as strong growth in its international markets: Our international sales (net) reached € 338 million in the first nine months of 2021, a 39% increase over the same period in 2019. The sales share of our international markets went up from 21% in 2019 to 27% in 2021.

Report on earnings, financial position and assets

Q1-Q3/2021

Compared with the same period of the previous year, Fielmann increased the units sold in the first three quarters by 16.8% to 6.06 million pairs of glasses (previous year: 5.19 million). External sales, including VAT and changes in inventories, were up 21.5% at € 1.45 billion in the same period (previous year: € 1.19 billion), while consolidated sales rose by 21.2% to

• 1.25 billion (previous year: € 1.03 billion). This development was driven by double-digit growth in all major markets. Strong organic growth was supplemented by additional sales attributable to Óptica & Audiología Uni- versitaria. The Spanish retail group was acquired by the Fielmann Group in December 2020 and has since contributed to our success.
  EBITDA improved to € 317.8 million, compared with € 239.2 million in the first nine months of the previous year. Earnings before taxes amounted to € 181.3 million after nine months (previous year: € 118.9 million), while con- solidated net income for the period totalled € 121.9 million (previous year:
• 81.9 million). Earnings per share (EPS) came to € 1.38 (previous year:
• 0.94).

Q3/2021

Fielmann increased its units sold by 3.6% to 2.17 million pairs of glasses (previous year: 2.09 million). In the third quarter, external sales grew by 10.4% to € 531.6 million (previous year: € 481.6 million), while consolidated sales climbed 9.5% to € 460.8 million (previous year: € 421.0 million). While Germany reached sales levels not only above 2020, but

Third quarter 2021 3

also well above 2019, Switzerland and Austria reached pre-crisis levels but did not grow over 2020. Our other international markets grew by about 20% on a comparable basis in the quarter while Spain contributed further growth.

The same period last year was positively affected by a financial divest- ment. At € 85.4 million, earnings before taxes were above the previous year's figure of € 81.4 million. Net income grew by € 1.4 million to € 57.4 million (previous year: € 56.0 million).

Financial position and assets

Cash flow from operating activities (Q1-Q3/2021) totalled € 289.1 million, well above the previous year's figure of € 201.2 million, mainly owing to higher earnings. Cash flow from financing activities includes the dividend payment of € 100.8 million for the 2020 financial year agreed at the Annual General Meeting of Fielmann AG on 8 July 2021, corresponding to € 1.20 per share. Investment in tangible assets, which was financed entirely from existing liquidity, related to the implementation of Vision 2025, and came to € 59.2 million after nine months (previous year:

• 55.0 million). Of this total, € 11.2 million related to IT infrastructure and
• 38.9 million on new store openings and the expansion and conversion of stores. As at 30 September 2021, the Fielmann Group operates digital sales channels in nearly all its markets as well as 897 stores (end of 2020: 870), of which 308 also provide hearing aid services (end of 2020: 280).

Employees

In the first nine months of 2021, Fielmann has created 392 additional jobs and currently employs a total of 22,245 staff, including 4,522 trainees.

Outlook, forecast, opportunities and risk report

Based on the visible recovery in the first three quarters of 2021 the Management Board of the Fielmann Group confirms its guidance: We continue to expect external sales of more than € 1.9 billion (previous year: € 1.6 billion), net sales of around € 1.7 billion (previous year: € 1.4 billion) and a pre-tax profit of more than € 200 million (previous year: € 175.5 million) for the full year. The profit forecast includes increased up-front costs resulting from an accelerated organic growth strategy, higher transport costs and

4 Third quarter 2021

one-offwrite-offs for software applications that were changed in scope. This prognosis is contingent on the assumption that no major, coronavirus-related restrictions will impact our business during the remainder of the year.

For 2022, we anticipate double-digit growth rates for both external and net sales. We will continue to expand our omnichannel business model as well as our international distribution network to at least one new country.

Hamburg, November 2021

Fielmann Aktiengesellschaft

The Management Board

Composition of financial assets

1 January to 30 September in € 000s		2021			2020		Change
Liquid funds	178,604	171,463	7,141
Capital investments with a specific maturity of
up to 3 months		9,466			45,130		-35,664
Cash and cash equivalents		188,070			216,593		-28,523
Non-current financial assets	2,055	2,129		-74
Other non-current financial assets	22,416	3,815	18,601
Capital investments with a specific maturity of
more than 3 months		69,498			147,249		-77,751
Financial assets		282,039			369,786		-87,747

Financial calendar 2021/2022

Preliminary figures 2021	Februar 2022
Financial statement press conference	28. April 2022
Q1 report	28. April 2022
Annual General Meeting	14. Juli 2022
Bloomberg code	FIE
Reuters code	FIEG.DE
Securities ID number/ISIN	DE0005772206

Further information:

Fielmann AG · Investor Relations

Ulrich Brockmann

Weidestraße 118 a · 22083 Hamburg · Germany

Telephone: + 49 (0) 40 / 270 76 - 442 · Fax: + 49 (0) 40 / 270 76 - 150

Email: [e-mail] · Internet: www.fielmann.com

Third quarter 2021 5

Cash flow statement

	Cash flow statement according to IAS 7 for the period from
	1 January to 30 September in € 000s	2021	2020		Change
	Earnings before taxes (EBT)	181,335	118,901	62,434
-/+Profit shares of associates	98	755		-657
+ Statement-related interest expenditure from leases	2,835	1,655	1,180
+ Statement-related other expenditure in the final result	4,148	1,033	3,115
- Statement-related income in the final result	-628				-688	60
+ Depreciations on tangible assets and intangible assets	62,893	58,274	4,619
+ Depreciation of right-of-use assets	67,142	59,247	7,895
- Taxes on income paid	-43,762				-40,825		-2,937
+/- Other non-cash income/expenditure	-3,154	54		-3,208
+/- Increase/decrease in accruals	-2,861	1,421		-4,282
-/+ Profit/loss on disposal of tangible assets as properties kept as
	financial investments and intangible assets	34				-640	674
-/+Increase/decrease in inventories, trade debtors and other assets not
	attributable to investment or financial operations	-7,761				-19,986	12,225
+/- Increase/decrease in trade creditors and other liabilities not attri-
	butable
	to investment or financial operations	29,119	22,726	6,393
-	Interest paid	-892				-711		-181
+	Interest received		-210			29		-239
= Cash flow from operating activities		288,336			201,245		87,091
	Receipts from the disposal of tangible assets	411	282	129
- Payments for tangible assets	-47,661				-34,078		-13,583
- Payments for intangible assets	-9,507				-18,849	9,342
+ Receipts from the disposal of financial assets	39	101		-62
- Payments for financial assets	0				-197	197
- Payouts for the purchase of subsidiaries	-21,881				-2,033		-19,848
+ Receipts from the disposal of securities and
	other investments	85,550	105,611		-20,061
- Payments for the acquisition of securities and
	other investments		-32,427				-97,851		65,424
= Cash flow from investment activities		-25,476				-47,014		21,538
	Dividend paid to company to parent company shareholders	-100,753	0		-100,753
- Payments to company owners and non-controlling shareholders	-9,082				-3,252		-5,830
+/- Sale/Acquisition of own shares	-2,850				-3,098	248
+ Receipts from loans raised	47	85		-38
-	Repayment of loans	-145				-145	0
- Payments for liabilities from leases	-65,684				-59,978		-5,706
- Payments for the acquisition of additional shares in subsidiaries		0				-1,558		1,558
= Cash flow from financing activities		-178,467				-67,946		-110,521
	Changes in cash and equivalents	84,393	86,285		-1,892
+/- Changes in cash and equivalents due to exchange rates	-45				-415	370
+ Cash and equivalents at the beginning of the period		103,722			130,723		-27,001
= Cash and equivalents at the end of the period		188,070			216,593		-28,523