Fnac Darty : Présentation investisseurs, mai 2024 (en anglais seulement)

INVESTOR PRESENTATION

MAY 2024

LEADING EUROPEAN OMNICHANNEL RETAILER WITH A DIVERSE AND BALANCED RANGE OF PRODUCTS AND SERVICES

2023 revenue breakdown by category

€7.9bn Group revenue in 2023 - ~25,000 employees	15%	Consumer electronics
Top European omnichannel retailer		Editorial products
• 70 million+ checkout transactions	20%	47%
Domestic appliances
• 22% of total sales in 2023 are online sales
• 50% of online sales are omnichannel (click & collect)		Other products and
	18%
	services 3
High level of customer satisfaction: +2pts NPS 2023 vs 2022
1,010 multiformat stores1	2023 revenue breakdown by region

•	437 franchises stores (43%)	8%
•	c. 90% of customers have a store less than 15' from home
9%

France and Switzerland

No. 1 after-sales service in France2		Iberian peninsula
• 2.5 million products repaired in 2023
• c. 3,000 employees dedicated to after-sales service		Belgium and
• 1.1 million+ Darty Max subscribers	83%
Luxembourg
• 11 million members / subscribers

1 As of 31 December 2023	2
2	Internal customer studies
3	Including ticketing, B2B, after sales service, franchise fees, insurance, consumer credit

OUR STRATEGY BUILT TO STRENGTHEN OUR POSITIONING AND CAPTURE GROWTH

Build a digitized omnichannel retail

• Best-in-classonline capacities
• A profitable and digitized store network
• A high-value offer

Scale the next in-homesubscription-based assistance service

• Unlocking the full potential of our exclusive unlimited repairs subscription program

Lead durable behaviors

• A more sustainable offer, combined with customers' orientation towards sustainable products
• The promotion of responsible behaviors, notably through eased access to repair

3

BUILD A DIGITIZED OMNICHANNEL RETAIL

Best-in-class online capacities

A profitable and digitized store network, fostering the expertise of

salespeople and digital footprint

An uncompromised acceleration to offer high-value products to all

50%	100%
of online revenue	of stores
from Click & Collect	profitable by 20251

1. Group owned stores perimeter	4

LEAD DURABLE BEHAVIORS

A more durable offer, combined with customers' orientation towards durable products

The promotion of responsible behaviors, notably through eased access to repair

135	c.2.5M
"sustainability score"	products repaired
by 20251	in 20252

1. Products durability scores weighted by volumes

2. Repaired or dysfunction resolved

5

SCALE THE NEXT IN-HOMESUBSCRIPTION-BASED

ASSISTANCE SERVICES

Unlocking the full potential of our exclusive unlimited repairs subscription program

To become the leader of in-home assistance solutions

1M	>2M
subscribers at	subscribers
end-Sept 2023	by 2025

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FNAC DARTY PROFILE IN 2025

135	c.2.5m
"Durability score"	Products repaired in 20256
by 20255

>30%	>2M
Online revenue penetration	Subscribers to our unlimited repairs
by 2025	subscription program by 2025
c.€120m	≥ €240m
Total annual normative capex budget	Run rate Free Cash Flow3 in 2025
over the period by 20252

1Group owned stores perimeter

2Excluding major strategic initiatives

3Net cash provided by operating activities excluding net financial charges less net operating investments and cash impacts relating to rents within the scope of IFRS 16

-50%

Transport & energy CO2 emissions in 2030 vs 2019

100%

Stores profitable by 20251

Conservative

Financial Policy

Leverage4 of max 2.0x

Shareholder Return

>30% mid-term payout ratio

Add. opportunistic shareholder

return

4. Leverage measured with net debt excluding IFRS16 and 12-month rolling EBITDA

excluding IFRS16	7
5. Durability scores weighed by volumes

6. Repaired or dysfunction resolved

ENSURING SUSTAINABLE SHAREHOLDER RETURNS

Increased

Free Cash Flow

+

Controlled net debt

Leverage1(net debt/ EBITDA)

of max 2.0x

Fund profitable growth

Reinvest in the business

Tactical bolt-on M&A

+

Shareholder return policy

Opportunity-driven decision

Incremental

shareholder return

Leverage1 of max 2.0x

Via special dividend or share buyback

1. Leverage measured as of end of June with net debt excluding IFRS16 measured as	8
of end of June and 12-month rolling EBITDA excluding IFRS16

2023 FULL-YEAR RESULTS

MARKET CONTEXT

Change in VALUE of the French market
	(base of 100 in 2019)
2019	2020	2021	2022	2023

DOMESTIC APPLIANCES

CONSUMER ELECTRONICS

EDITORIAL PRODUCTS

Change in VOLUME of the French market
	(base of 100 in 2019)
2019	2020	2021	2022	2023

A retail sector undergoing a profound transformation, with some players struggling and a greater focus on specialists

An e-commerce market with lower-than-expected growth, primarily impacting pure players

Source: GfK - France

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