#1TRANSFORMATION GORDON VON BRETTEN COTY#2"ALL-IN TO WIN”: TRANSFORMING COTY END-TO-END FROM CORPORATE AND BRAND STRATEGIES not clear Zero top line GROWTH IP AND INNOVATION firepower not utilized B&M FOCUSED: Late in e-commerce and DTC HIGH FRAGMENTATION (e.g. SKUs, brands) UNDER-UTILIZED NETWORK TOO MUCH OVERHEAD Unsustainable CAPITAL STRUCTURE ΤΟ PRODUCT CENTRIC brands and clear COTY portfolio 6 STRATEGIC PILLARS with accelerated execution Investment in INNOVATION and leveraging what we have E-commerce momentum and investment in DIGITAL Complexity reduction, platforming, streamlined portfolio IMPROVING UTILIZATION through growth and insourcing STREAMLINED organization, processes and spending Reduced LEVERAGE through cash focus COTY 2#35 KEY WORKSTREAMS TO TURN COTY INTO AN INDUSTRY LEADER FY21 1 Funding the Journey 2 3 FY22 FY23 PRIMARY FOCUS AREAS KEY OUTCOMES Gross Margin Attack FIXED COSTS PRICING, NRM* & COGS Deliver Sustainable, Profitable Growth 6 STRATEGIC PILLARS 4 5 Cash Olympics (Debt Reduction) Accelerate Culture & ESG COTY INVEST IN A&CP INCREASE PROFITABILITY FCF & WORKING CAPITAL FUND GROWTH PROJECTS SUSTAINABILITY & DE&I *NRM = Net Revenue Management REDUCE DEBT 3#4ON TRACK FOR ~$600M SAVINGS THROUGH FY23, ~$675M BY FY24 SAVINGS DELIVERY TIMELINE ($M) >$330M >$90M ~$170M $600M ~$75M ~$100 Structural A&CP+Other FY21A FY22E FY23E Original Phasing: $200M $200M $200M ~$230 Trade Invest & COGS ~$270 SG&A $600M FY24E Accelerated savings delivery in FY21 by pulling savings forward from FY22 FY22 savings are net savings and incorporate headwinds from: Investment in strategic pillars, including China, digital, and skincare Material cost inflation* - Reinstating bonuses Already identifying potential projects for FY24 and beyond, including: Manufacturing footprint Distribution efficiency Platforming and material value analysis COTY * In FY22, AITW cost reductions are expected to fully offset the impact of our originally budgeted material inflation. Due to unprecedented developing market conditions, we are now anticipating increased incremental material cost headwinds in FY22, which we expect to be able to fully offset through additional pricing actions 4#5FY21 SAVINGS DRIVEN BY STREAMLINED OVERHEAD BREAKDOWN OF FY21 COST SAVINGS Trade Investment Structural A&CP 4% 14% COGS 22% >$330M COTY 59% Fixed Costs (Headcount, Business SVCs) EXAMPLES OF COST REDUCTION ACTIONS Funding the Journey PEOPLE COST NON- PEOPLE OVERHEAD REAL ESTATE OUT- SOURCING • • Reduced SG&A headcount by 17% between FY21 and FY20 • • FY22 plan includes further reductions and reinvestment of ~200 new positions Drastic reductions in all external spend categories, e.g. reduced Temporary Staff spend by >33% vs. FY20 Implementing significant reduction in office space, including London, New York, Geneva, Paris and Amsterdam; full year effect of >$25M Transition of 3 existing Coty Shared Service Centers and in-market G&A roles to 3rd party provider 5#6MULTI-PRONGED INITIATIVE TO IMPROVE OUR GM 2 Gross Margin Attack GROSS MARGIN ATTACK PROGRAM COMMERCIAL GM ATTACK SUPPLY CHAIN ATTACK Excess & Obsolescence Manufacturing Coty FY21 gross margin of ~60% vs. beauty peers at >70% FY25 objective of mid 60% Strategic pillars are all gross margin accretive Pricing and Net Revenue Management Value Distribution Reduction COTY Strategic Sourcing Gross Margin Attack Distribution Planning Portfolio Mix MATERIAL COST ATTACK Material Value Analysis Platforming TOTAL IMPACT: ~500 BASIS POINTS BY FY25 Portfolio Management PORTFOLIO GM ATTACK#7◉ FRAGRANCE MANUFACTURING CONSOLIDATION 2 Gross Margin Attack ■ Closure of Cologne site by FY23 and consolidation of volumes ☐ ◉ into Granollers (Spain) and Chartres (France) sites Now 2 state-of-the-art facilities with strong focus on continuous improvement, automation, OTIF*, and quality Significant improvement in KPIs by FY23: CAPACITY UTILIZATION: +20 ppt Ample room for future growth COTY *On-Time-In-Full = Service Level UNIT COST: -13% BURBERRY GUCCI CUCCI Mr. M Sample of products moved from Cologne COTY ROBOT ROBOT Z 7#8PORTFOLIO OPTIMIZATION PROGRAM DRIVING GM TAIL-END SKU RATIONALIZATION ■ Removing non-productive SKUs ☐ ☐ Revenue neutral due to increased ☐ shelf productivity 2 Gross Margin Attack PLATFORMING Standardization of packaging types Rolling out winning innovations across consumer beauty brands ASSORTMENT MANAGEMENT Prioritization of competing SKUs with higher GM Optimizing SKU mix in planograms ☐ Status: Rationalization launched Aug 2020 ☐ Status: Being rolled out for color cosmetics ☐ Status: Implementation started Jul 2021 COTY Example: Color Cosmetics 100% 100% 65% 97% 35% 3% Example: Foundations Reduction of Tube shapes by -50% COVERGIRL со эмоотневе BB ORG RIMMEL 001 ULTIMATE KOHL KAJAL EYELINER/TRACEUR PEMENTE SKUs Net Sales ERPROOF KOHL Non-Productive Productive 55 OZ 1.6g From 6 tubes 15-40ml To 3 tubes 30ml Example: Rimmel Rimmel Ultimate Kohl Kajal RIMMEL LONDON SOFT KOHL KAJAL EYE UNER ENCL INTENSE SMOKEY Rimmel Soft Kohl Kajal Gross Margin: low Rotation: low 011 Crayon 004120 Soft Percifor Smokey Eye Laski BLENDABLE & LONG WEARING Gross Margin: high Rotation: high 8#9ட COTY TPM RAW MATERIAL & FREIGHT INFLATION BEING FULLY OFFSET MATERIAL COST HEADWINDS BY CATEGORY IN FY22 PACKAGING Glass Secondary pack Closure & Collars Plastic Color Cosmetic Plastic Dispensing Plastic primary Metal primary Tubes Other - Aluminum Chemicals Color Cosmetic Nail Fragrance Aerosol ⚫ Freight No Impact <5% > 5% ~5% avg. increase in direct materials + >20% in inbound freight 1 = ~$60M HURT FY22 IMPACT 2 Gross Margin Attack MITIGATING ACTIONS GLOBAL PRICING INITIATIVE More central control and more ambitious view on price increases STRATEGIC SOURCING 2 ~$500M in procurement spend currently in RFQ¹ MVA² & PLATFORMING 3 E.G. ~70% of new makeup initiatives now platformed =>$60M OFFSET1 4 MULTI-YEAR AGREEMENTS & LOCAL SOURCING IN FREIGHT 1 In FY22, AITW cost reductions are expected to fully offset the impact of our originally budgeted material inflation. Due to unprecedented developing market conditions, we are now anticipating increased incremental material cost headwinds in FY22, which we expect to be able to fully offset through additional pricing actions Request for quote; 3 Material value analysis 2 9#10SUPPORTING EXECUTION OF OUR STRATEGIC PILLARS #1 Stabilize and grow CB makeup brands and fragrances Accelerate luxury fragrances #2 and makeup Build skincare portfolio #3 across both divisions Build e-commerce and #4 DTC expertise and capabilities Expand in China on luxury #5 and selected CB brands #6 Become a beauty leader in sustainability COTY 3 Deliver Growth CHINA POWER HOUSE HAINAN TASKFORCE SKINCARE TASK FORCE THE TURBO BEHIND THE STRATEGIC PILLARS: SAMPLING TASK FORCE CROSS-FUNCTIONAL TASK FORCES ORVEDA GROWTH TEAM DACH POWER HOUSE KYLIE & KIM POWER HOUSE 10#11CASH OLYMPICS: TARGETING LEVERAGE ~5X by CY21 KEY STREAMS 1 Inventory 2 Receivables 3 Payables 4 Real Estate 5 Long Term Assets 6 CAPEX 7 One Off Cost 8 Tax / Vat 9 Interest, Bank Fees 10 Factoring 11 Balance Sheet Review COTY EXAMPLES OF IDENTIFIED OPPORTUNITES & ($) Cash Olympics Freeing up >$150M in cash by selling off non-core real estate More than $100M in annual VAR "value at risk" - >$20M reduction targeted via depletion program and improved planning 11#12COTY مهر KEY TAKEAWAYS "All-In to Win" end-to-end transformation program fully in implementation, with central leadership and strong execution infrastructure across all work streams On track to deliver $600M in cost reductions by FY23 (and $675M by FY24), resetting Coty's overhead cost structure; Almost $400M of savings already delivered Gross margin attack program beginning to deliver results (with Q1 GM at ~63.4%, +480bps YoY); targeting mid 60% by FY25 Significant top line growth in recent quarters (Q1 LFL +21%), due to strong execution across our 6 strategic pillars; significant re-investment in A&CP and people to fuel growth Strong focus on cash to gain flexibility with leverage reduced to ~5x by end of CY21; optimal leverage of below 2x 12#133 TOGETHER, WE ARE MAKING CORPORATE HISTORY!#14DISCLAIMER Forward-Looking Statements Certain statements in this presentation are forward-looking statements. These forward-looking statements reflect the Company's current views with respect to, among other things, the impact of COVID-19 and potential recovery scenarios, strategic planning, targets, segment reporting and outlook for future reporting periods (including the extent, timing and concentration of revenue, expense and profit trends, changes in operating cash flows and cash flows from operating activities and investing activities, and expected drivers of sales and profitability in future periods), the impact of the sale of the Wella business and the related transition services (the "Wella TSA"), the Company's future operations and strategy including the expected implementation and related impact of its strategic priorities), allocation and amount of advertising and consumer promotion costs, expected shelf space trends, allocation and amount of research and development investments, investments, licenses and portfolio changes, product launches and relaunches or rebranding (including their expected timing and impact), ongoing and future cost efficiency, optimization and restructuring initiatives and programs, strategic transactions (including their expected timing and impact), plans with respect to opportunities to leverage assets including through public offerings, plans with respect to joint ventures (including Wella), the Company's capital allocation strategy and payment of dividends (including suspension of dividend payments and the duration thereof, and any plans to resume cash dividends and any plans to resume cash dividends on common stock or continue to pay cash dividends on preferred stock), synergies, savings, performance, cost, timing and integration of acquisitions and investments, including the strategic partnerships with Kylie Jenner and Kim Kardashian West, future cash flows, liquidity and borrowing capacity (including any debt refinancing activities), timing and size of cash outflows and debt deleveraging, the timing and extent of any future impairments, synergies, savings, impact, cost, timing and implementation of the Company's comprehensive transformation agenda (the "Transformation Plan") (including operational and organizational structure changes, operational execution and simplification initiatives, cost reductions and supply chain changes), e-commerce, digital and direct-to- consumer initiatives, sustainability initiatives, management changes, the priorities of senior management, the expected impact of global supply chain challenges or inflationary pressures, and the Company's ability to support its planned business operations in the near-term and long-term basis. These forward-looking statements are generally identified by words or phrases, such as "anticipate", "are going to", "estimate", "plan", "project", "expect", "believe", "intend", "foresee", "forecast", "will", "may", "should", "outlook", "continue", "temporary", "target", "aim", "potential", "goal" and similar words or phrases. These statements are based on certain assumptions and estimates that we consider reasonable, but are subject to a number of risks and uncertainties, many of which are beyond the control of the Company, which could cause actual results to differ materially from such statements. Such risks and uncertainties are identified in the periodic reports Coty has filed and may file with the Securities and Exchange Commission (the "SEC") including, but not limited to: the impact of COVID-19 (or future similar events), including demand for the Company's products, illness, quarantines, government actions, facility closures, store closures or other restrictions in connection with the COVID-19 pandemic, and the extent and duration thereof, the availability and widespread distribution of a safe and effective vaccine, related impact on the Company's ability to meet customer needs and on the ability of third parties on which the Company relies, including its suppliers, customers, contract manufacturers, distributors, contractors, commercial bank and joint-venture partners, to meet their obligations to the Company, in particular, collections from customers, the extent that government funding and reimbursement programs in connection with COVID-19 are available to the Company, and the ability to successfully implement measures to respond to such impacts; the Company's ability successfully implement its multi-year Transformation Plan and to develop and achieve its global business strategies and strategic priorities, compete effectively in the beauty industry and achieve the benefits contemplated by its strategic initiatives within the expected time frame or at all; the timing, costs and impacts of future divestitures (and the amount and use of proceeds from any such transactions); the integration of acquisitions with the Company's business, operations, systems, financial data and culture and the ability to realize synergies, avoid future supply chain and other business disruptions, reduce costs and realize other potential efficiencies and benefits (including through its restructuring initiatives) at the levels and at the costs and within the time frames contemplated or at all; and managerial, integration, operational, regulatory, legal and financial risks, including diversion of management attention to and management of cash flows, expenses and costs associated with the Company's response to COVID-19 and multiple ongoing and future strategic initiatives (including the Wella TSA), internal reorganizations and restructuring activities, including the Transformation Plan, any unanticipated problems, liabilities or integration or other challenges associated with a past or future acquired business, joint ventures or strategic partnerships (including with Kylie Jenner and Kim Kardashian West) which could result in increased risk or new, unanticipated or unknown liabilities, including with respect to environmental, competition and other regulatory, compliance or legal matters and litigation or investigations by governmental authorities; the Company's ability to retain and attract key personnel and the impact of senior management transitions and organizational structure changes. The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. More information about potential risks and uncertainties that could affect Coty's business and financial results is included under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Coty's Annual Report on Form 10-K for the fiscal year ended June 30, 2021, and other periodic reports Coty has filed and may file with the SEC from time to time. Any forward-looking statements made in this presentation are qualified in their entirety by these cautionary statements. All forward-looking statements are made only as of the date of this presentation, and, Coty undertakes no obligation, other than as may be required by applicable law, update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise. Non-GAAP Financial Measures In this presentation, Coty presents certain non-GAAP financial measures that we believe enable management and investors to analyze and compare the underlying business results from period to period, including constant currency, organic like- for-like (LFL) and adjusted metrics, adjusted operating income, adjusted gross margin, as well as adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"), adjusted EPS, net debt or financial net debt, economic net debt, free cash flow and immediate liquidity. Constant currency information compares results between periods as if exchange rates had remained constant period-over-period, with the current period's results calculated at the prior-year period's rates. The term "like-for-like" describes the Coty's core operating performance, excluding the financial impact of (i) acquired brands or businesses in the current year period until Coty has twelve months of comparable financial results, (ii) divested brands or businesses or early terminated brands, generally, in the prior year non-comparable periods, to maintain comparable financial results with the current fiscal year period and (iii) foreign currency exchange translations to the extent applicable. Adjusted metrics exclude nonrecurring items, purchase price accounting-related amortization, acquisition-related costs, restructuring costs, stock-based compensation, and certain other information as noted within this presentation. Free cash flow is defined as net cash provided by operating activities, less capital expenditures, and net debt is defined as total debt less cash and cash equivalents. "Immediate liquidity" is defined as the sum of available cash and cash equivalents and available borrowings under Coty's Revolving Credit Facility. These non-GAAP financial measures should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with GAAP. To the extent that Coty provides guidance, it does so only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for restructuring, integration and acquisition-related expenses, amortization expenses, adjustments to inventory, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant. Reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures are contained in the press release attached as Exhibit 99.1 to the Form 8-K filed with the SEC on November 8, 2021. Outlook Information In this presentation, Coty presents certain outlook information as of November 18, 2021