Prada S p A : 08/09/2017 Announcement of the Interim Results for the Six Months ended July 31, 2017

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PRADA spa (Stock Code: 1913) ANNOUNCEMENT OF THE INTERIM RESULTS FOR THE SIX MONTHS ENDED JULY 31, 2017

• Net sales were Euro 1,442.6 million, -5.7% compared with the six months ended July 31, 2016;

• Royalties were Euro 26.1 million, +4.7% compared with the six months ended July 31, 2016;

• EBIT was Euro 166.8 million, or 11.4% on net revenues;

• Group's net income was Euro 115.7 million, or 7.9% on net revenues;

• Net financial position is standing negative at Euro 223.4 million as at July 31, 2017 after the payment of dividends to the shareholders of PRADA spa for Euro 307.1 million.

Consolidated results for the six months ended July 31, 2017

The Board of Directors (the "Board") of PRADA S.p.A. (the "Company", or "PRADA spa") announces the unaudited Consolidated results of the Company and its subsidiaries (collectively, the "Group") for the six months ended July 31, 2017, together with the unaudited comparative figures for the same six months period ended July 31, 2016. The following financial information has been prepared in accordance with the International Financial Reporting Standards ("IFRS") as adopted by the European Union. The Consolidated results of the Group for the year ended January 31, 2017, were audited by Deloitte & Touche S.p.A.

Key financial information Key economic figures (amounts in thousands of Euro) six twelve months months ended ended July 31 January 31 2017 2017 (unaudited) (audited) six months ended July 31 2016 (unaudited) % change vs July 31 2016

Net revenues	1,468,636	3,184,069	1,554,172	-5.5%
EBITDA	279,553	653,448	329,991	-15.3%
EBITDA %	19.1%	20.5%	21.2%	-
EBIT	166,837	431,181	213,701	-21.9%
EBIT %	11.4%	13.5%	13.8%	-
Net income of the Group	115,742	278,329	141,923	-18.4%
Earnings per share (Euro)	0.045	0.109	0.055	-18.4%
Capital expenditure	105,615	251,507	108,085	-
Net operating cash flows	208,156	631,850	266,728	-22.0%
Average number of employees	12,094	12,326	12,228	-1.1%

Key statement of financial position indicators (amounts in thousands of Euro) as at as at July 31 January 31 2017 2017 (unaudited) (audited) as at July 31 2016 (unaudited) change vs January 31 2017

Net operating working capital	552,685	556,351	674,446	(3,666)
Net invested capital	3,022,362	3,086,089	3,166,777	(63,727)
Net financial position surplus/(deficit)	(223,427)	18,441	(251,727)	(241,868)
Group' shareholders' equity	2,776,345	3,080,502	2,894,984	(304,157)

Highlights for the six months ended July 31, 2017

The net revenues for the six months ended July 31, 2017 were Euro 1,468.6 million, down by 5.5% compared to the same period of last year. The sales performance for the period had conflicting trends, with some markets recovering and others contracting.

In terms of profitability, the decline in sales volumes was compensated for by a better mix, especially regarding the ratio of full-price sales to discounted sales. The gross margin benefited from this and improved from the same period of the previous year.

With respect to business initiatives, an important e-commerce plan was introduced for all the Group's brands that include an omnichannel growth strategy focusing on gradual expansion of the online sales channel in terms of merchandising and territorial coverage, plus new versions of the websites. Digital initiatives also involved advertising and communications, with the creation of special content and the acquisition of online space and media tools intended to create synergy among the three distribution channels.

Investments were continued in the manufacturing area to boost internal production volumes, thereby ensuring that a greater number of production processes achieve the high standards that have always characterized the output of the Group's production facilities. The investments of the period also targeted the retail network. The plan to bring Miu Miu stores into line with the brand's new look progressed, and special projects for Prada stores were carried out, such as new store layouts and extension of the "resort" concept to seaside stores.

The recent overhauling of processes and cost structure enabled to keep operating expenses consistent with those of the prior reporting period.

EBIT for the six months ended July 31, 2017 was Euro 166.8 million, or 11.4% of net revenues, down from the Euro 213.7 million, or 13.8% of net revenues, of the same period of the previous year.

The Group's net income was Euro 115.7 million, or 7.9% as a percentage of net revenues, whereas it was 9.1% for the same six-month period of 2016.

The net operating working capital at July 31, 2017 is Euro 552.7 million, practically unchanged from January 31, 2017. The net financial indebtedness amounts to Euro 223.4 million, after the dividend payment of Euro 307.1 million and a reduction of Euro 40.6 million resulting from the exchange rates fluctuation.

Consolidated statement of Profit or Loss for the six months ended July 31, 2017 (amounts in thousands of Euro) Note six months ended July 31 % on Net six months ended July 31 % on Net 2017 (unaudited) revenues 2016 revenues (unaudited) Net revenues 3 1,468,636 100.0% 1,554,172 100.0% Cost of goods sold (379,995) -25.9% (432,231) -27.8% Gross margin 1,088,641 74.1% 1,121,941 72.2% Operating expenses 4 (921,804) -62.7% (908,240) -58.4% EBIT 166,837 11.4% 213,701 13.8% Interest and other financial

income/(expenses), net 5 (890) -0.1% (6,756) -0.4%

Dividends from investments 357 0.0% 558 0.0% Income before taxes 166,304 11.3% 207,503 13.4% Taxation 6 (50,222) -3.4% (62,206) -4.1% Net income for the period 116,082 7.9% 145,297 9.3% Net income - Non-controlling interests 340 0.0% 3,374 0.2% Net income - Group 115,742 7.9% 141,923 9.1% Depreciation, amortization and

impairment 112,716 7.7% 116,290 7.5%

EBITDA 279,553 19.1% 329,991 21.2% Basic and diluted earnings per share (in Euro per share) 7 0.045 0.055