SIGNA Sports United N : Q2 FY23 Results Presentation

This presentation ("Presentation") is provided by SIGNA Sports United N.V. (the "Company", and together with its consolidated subsidiaries, the "Group") for informational purposes only. The information contained herein does not purport to be all-inclusive and neither the Company nor any of its or their control persons, officers, directors, employees or representatives makes any representation or warranty, express or implied, as to the accuracy, completeness or reliability of the information contained in this Presentation. You should consult your own counsel and tax and financial advisors as to legal and related matters concerning the matters described herein, and, by accepting this Presentation, you confirm that you are not relying upon the information contained herein to make any decision.

This Presentation, and other statements that the Group may make, contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act.

These forward-looking statements include, but are not limited to, statements regarding: the Group's intent, belief or current expectations; future events; the estimated or anticipated future results and revenues of the Group; future opportunities for the Group; future planned products and services; business strategy and plans; objectives of management for future operations of the Group; market size and growth opportunities; competitive position, technological and market trends; and other statements that are not historical facts. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "could," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," "suggests," "targets," "projects," "forecast" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters.

These forward-looking statements are based on the current expectations, beliefs and assumptions of the Group's management and on information currently available to management and are not predictions of actual performance or further results. Forward-looking statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to, the following, as well as the risk factors discussed in "Item 3. Key Information -D. Risk Factors" in our 20-F filing as of February 7, 2023 and the risk factors discussed in "Operating and Financial Review and Prospects-Risk Factors" of the Unaudited Interim Condensed Consolidated Financial Statements as of and for the six-months period ended March 31, 2023 and Exhibit 99.4 in our 6-K filing as of June 28, 2023:

1. our liquidity and losses from operations and projected cash flows and related impact on our ability to continue as a going concern; o our future financial condition and operating results;
   o our ability to remain in compliance with financial covenants under our financing arrangements; o our ability to extend, renew or refinance our existing debt;
   o our growth, expansion and acquisition prospects and strategies, the success of such strategies, and the benefits we believe can be derived from such strategies; o our ability to effectively manage our inventory and inventory reserves;
   o impairments of our goodwill or other intangible assets;
   o changes in consumer spending patterns and overall levels of consumer spending;

1. our ability to further upgrade our information technology systems and infrastructure, including our accounting processes and functions, and other risks associated with the systems that operate our online retail operations;

1. our ability to continue to remedy weaknesses in our internal controls; o costs as a result of operating as a public company;
   o our assumptions regarding interest rates and inflation; o changes affecting currency exchange rates;
   o continuing business disruptions arising from the on-going war in Ukraine and in the aftermath of the coronavirus pandemic;
   o our financial condition and ability to obtain financing in the future to implement our business strategy and fund capital expenditures, acquisitions and other general corporate activities; o estimated future capital expenditures needed to preserve our capital base;

1. changes in general economic conditions in the Federal Republic of Germany ("Germany"), and the European Union and the Unites States of America, including changes in the unemployment rate, the level of energy and consumer prices, wage levels, etc.;

1. the further development of online sports markets, in particular the levels of acceptance of internet retailing;

1. our behavior on mobile devices and our ability to attract mobile internet traffic and convert such traffic into purchases of our goods; o our ability to offer our customers an inspirational and attractive online purchasing experience;
   o demographic changes, in particular with respect to Germany;
   o changes in our competitive environment and in our competition level;
   o the occurrence of accidents, terrorist attacks, natural disasters, fires, environmental damage, or systemic delivery failures; o our inability to attract and retain qualified personnel, consultants and collaborators;

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1. political changes;

1. changes in laws and regulations;

1. our expectations relating to dividend payments and forecasts of our ability to make such payments.

Forward-looking statements speak only as of the date they are made, and the Group assumes no duty to and does not undertake to update forward-looking statements.

Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance for many reasons, including the risk factors

discussed in "Item 3. Key Information -D. Risk Factors" in our 20-F filing as of February 7, 2023 and the risk factors discussed in "Operating and Financial Review and Prospects-Risk Factors" of the

Unaudited Interim Condensed Consolidated Financial Statements as of and for the Six-Months Period ended March 31, 2023 and Exhibit 99.4 in our 6-K filing as of June 28, 2023 and our ability to continue as a going concern.

This Presentation is for informational purposes only and does not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or an offer to buy or the solicitation of an offer to buy any securities, and there shall be no sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

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• Strategic realignment and onboarding of highly experienced leadership in Bike and Tennis
• Business focus on returning to profitability
• Benefits of strategic realignment to drive ~100M EUR of run-rate savings, including

o Focus on core markets

o Adaptation of commercial and operational models o Deliver on transaction synergies

• Exceptional one-time inventory write-off of ~20M EUR to be sold through alternative clearance channels
• Major indirect shareholder providing up to 150M EUR of additional liquidity to fund the operational and investment requirements of the business into FY25
• Exploring strategic alternatives related to the sale of Teamsports business
• Continued challenging operating environment & strategic decisions weighing on financial performance
• Most severe impacts of market disruptions incurred in H1 FY23, improvement anticipated for H2 FY23
• Net revenue decline of (2)%; PF YoY growth of (17)%
• Gross margin contraction to 26%; Adj. EBITDA margin of (22)%
• Anticipation of improved operating environment in FY24; renewed focus on profitable long-term growth
• Clear pathway to free cash flow generation going into FY25

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