#1asos P3 Trading Statement 15 July 2020#2On track to deliver strong profit growth and positive FCF Performance managed rigorously through disruption Retail Sales +10% Steady recovery through the period as warehouse capacity, proposition and trading stance restored ● Item Growth +15% ASP drag from 'lockdown' product mix offsets stronger underlying demand Delivering strong profitability & cash generation Strong operational grip & financial control Continued removal of non-strategic cost Robust working capital management Gross margin -70bps Adverse product mix offset with tight inventory management bunn asos#3Growth in 'lockdown' categories has been very strong, offsetting a significant reduction in demand for more occasion led product... LANSPELARE 120% 100% 80% 60% 40% 20% (20%) Occasion led categories affected by shift in customer demand Day Dresses (40%) (60%) P3 YOY Sales Growth Formalwear Evening Dresses Fashion Footwear Coats & Jackets Casualwear Activewear Face + Body Sneakerbrand Footwear [A MLI MILIT ASOS is well established in occasion led product and these categories represent a high portion of our ... TITU 2.0. 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% product mix TELUR 201 ■ Day Dresses Last Year P3 Product Mix Occasion Categories Fashion Footwear ■Sneakerbrand Footwear Evening Dresses Coats & Jackets Activewear Lockdown Categories Formalwear ■Casualwear Face + Body 3 asos#4Throughput capacity was restricted in our warehouses ** ZAMAN Effective social distancing and border closures restricted available labour in our warehouses... SLAANIAN BALEANPENNTRASLLOREN 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 02-Mar 16-Mar 09-Mar Available Labour vs Planned Labour 23-Mar 30-Mar 06-Apr 13-Apr 27-Apr 20-Apr Barnsley 11-May 04-May 18-May Eurohub 25-May 01-Jun 08-Jun 15-Jun 22-Jun ...we took customer facing decisions to manage throughput in line with warehouse capacity TELUR R FALTA GA TELTA H ● ● Significantly impaired delivery proposition Removal of NDD for 5-7 weeks Up to 11 days added to standard delivery Softened promotional calendar Reduced performance marketing spend 4 asos#5Customer engagement remains strong despite disruption Visits growth improved during the period reflecting customer engagement after the initial lockdown shock Feb YOY Visits Growth Mar Apr May Jun Conversion has also improved but remains behind year on year reflective of reduction in event led demand to shop Feb YOY Conversion Mar Apr May Jun Our active customer base increased to 23m despite softening our promo stance, marketing and delivery proposition 20.3 FY19 Active Customers 21.7 P120 22.3 H120 23.0 P320 5 asos#6Strong performance in EU & ROW, UK & US reflect more pronounced product mix shift and consumer dynamics related to lockdown measures FESTA UK most impacted by product mix shift and consumer dynamics 25% 20% 15% 10% 5% 0% -5% UK 499. SNEAKE EU supported by lockdown easing and good customer growth P3 Sales Growth EU US ROW GROUP US impacted by more pronounced product mix and product availability Retail Sales ABV ASP Item growth Visits Active Customers* 'S- 1'5 ROW supported by strong promotional engagement particularly through P3 KPIs Ramadan 10% (3%) (9%) 15% 13% 16% * 12 month measures - Active customers defined as having shopped in the last twelve months as at 30 June. 6 asos#7On track to emerge as a stronger and more resilient business Continuing to trade with agility through season: • Tight inventory management Dynamic promotional stance Substantial FY20 Profit Growth Preparing extensively for next season: Working closely with supplier base to build right product offer Increasing capacity warehouse for peak Positive FCF generation in FY20 Remain cautious on demand in context of: Medium term economic impact to 20-somethings Continued social distancing restricting social events, holidays & occasions Well positioned to be a global leader in retail 7 asos#8Q&A Please type your question into the question box with your name and institution 8 asos