#1VERSACE CAPRI HOLDINGS LIMITED wwwwwww JIMMY CHOO www MICHAEL KORS 3Q Fiscal Year 2022 Earnings Presentation February 2, 2022#2THIRD QUARTER FISCAL 2022 HIGHLIGHTS ● ● ● ● ● Revenue increased 24%, with strong double-digit growth across all three luxury houses Adjusted gross margin of 65.1% expanded 40 bps vs LY and 560 bps vs LLY, despite increased supply chain costs Adjusted operating margin of 22.3% expanded 260 bps vs LY and 550 bps vs LLY Increased customer database by 11.5 M versus prior year across our luxury houses Raised FY 2022 adjusted EPS outlook to $6.00 Anticipate double-digit revenue and EPS growth in FY 2023#3GROWTH INITIATIVES ● ● COMMUNICATION STRATEGY Capitalize on high brand engagement and awareness Reinforce three house pillars Accelerate database growth ● ● ● PRODUCT STRATEGY VERSACE ● Expand accessories to $1 billion • More than double footwear revenue ● • Further capitalize on iconic brand codes • Drive Signature across all product categories OMNI-CHANNEL STRATEGY Increase omni capabilities to grow E-commerce to $500M Increase global retail footprint to 300 stores Increase store sales density ● ● ● VER DE VIA G 101 1128 ICT#4ES CARLA 3Q 2022 HIGHLIGHTS ● VERSACE ● Revenue increased 29% Meaningful gross margin expansion Operating margin expanded 600 bps to 12.7% Global database +30% year-over-year La Greca signature represented 17% of sales#5GROWTH INITIATIVES ● ● COMMUNICATION STRATEGY • Own glamour through Time to Dare campaign Combine storytelling with data analytics Double database size ● ● PRODUCT STRATEGY ● ● • JIMMY CHOO ● ● • Capitalize on iconic brand codes Grow accessories to 30% of revenue OMNI-CHANNEL STRATEGY Triple E-commerce revenue • Enhance omni-channel services Increase global retail footprint to 300 stores Maximize casual opportunity Introduce new categories#63Q 2022 HIGHLIGHTS ● JIMMY CHOO ● • Significant gross margin expansion ● ● Revenue increased 47% Operating margin of 9%, substantially above expectations Global database +23% year-over-year • Now anticipate positive operating profit in FY 2022#7GROWTH INITIATIVES ● ● COMMUNICATION STRATEGY • Emotional brand engagement • Combine storytelling with data analytics. • Accelerate database growth ● • PRODUCT STRATEGY ● MICHAEL KORS • Increase Signature to 50% of the business • Grow MKGO to $500M ● Build Men's to $500M ● OMNI-CHANNEL STRATEGY ● ● Leverage seamless omni-channel experience Double E-commerce revenue Optimize global store fleet#83Q 2022 HIGHLIGHTS ● ● ● ● MICHAEL KORS ● Revenue increased 20% GM impacted by higher than anticipated supply chain costs Operating margin ~ flat to LY and +460bps vs LLY to 28.4% Global database +20% year-over-year Global retail AUR increased high teens#9Revenue Versace Jimmy Choo Michael Kors Adjusted Operating Margin Versace Jimmy Choo Michael Kors FISCAL YEAR 2023 OUTLOOK Adjusted EPS 1Q 2Q 3Q 4Q ~$1.35B ~$1.45B ~$1.75B ~$1.55B ~18.5% -$1.45 -18.0% ~23.5% -$1.60 -$2.50 ~15.0% -$1.05 FY ~$6.1B -$1.3B ~$675M -$4.125B ~19.0% -18.0% -8.0% ~25.0% ~$6.60#10HIGHEST REVENUE & EPS IN COMPANY HISTORY ADJUSTED OPERATING MARGIN Adj. EPS *Based on Outlook $5.24B 17.0% FY2019 $4.97 $5.55B 13.6% FY2020 $3.89 $4.06B 10.7% FY2021 $1.90 ~$5.56B ~19.0% FY2022E ~$6.00 ~$6.10B ~19.0% FY2023E ~$6.60#11NON-GAAP MEASURES This presentation includes certain non-GAAP financial measures that exclude certain costs associated with COVID-19 related charges, long-lived asset impairments, ERP implementation costs, Capri transformation costs, restructuring and other charges. The Company uses non-GAAP financial measures, among other things, to evaluate its operating performance and in order to represent the manner in which the Company conducts and views its business. The Company believes that excluding these items helps its management and investors compare operating performance based on its ongoing operations. While the Company considers the non-GAAP measures to be useful supplemental measures in analyzing its results, they are not intended to replace, nor act as a substitute for, any amounts presented in its consolidated financial statements prepared in conformity with U.S. GAAP and may be different from non-GAAP measures reported by other companies.#12RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Gross profit Operating expenses Total income from operations $ SA $ Income before provision for income taxes Provision for income taxes Net income attributable to Capri Diluted net income per ordinary share - Capri $ As Reported 1,048 717 331 342 19 322 2.11 Impairment Charges $ LA $ SA SA T Three Months Ended December 25, 2021 Restructuring COVID-19 and Other Related ERP Charges Implementation Charges (1) $ $ (1) $ EA SA (14) 14 14 1 13 0.09 $ $ EA $ $ (2) 1 1 $ (3) 3 Capri Transformati $ $ EA GA 3 $ 1 2 0.01 $ $ CA $ (10) $ 10 $ 10 $ 8 $ 2 $ 0.01 $ As Adjusted 1,047 688 359 370 30 339 2.22 (1) Includes store closure costs which have been incorporated into the Capri Retail Store Optimization Program, other restructuring initiatives, and other costs recorded in connection with the acquisitions of Gianni Versace S.r.l. and Jimmy Choo Group Limited#13RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Gross profit Operating expenses Total income from operations Income before provision for income taxes Provision for income taxes Net income attributable to Capri Diluted net income per ordinary share - Capri $ $ EA $ $ $ As Reported 2,788 2,004 784 796 54 741 4.82 Impairment Charges $ GA GA $ $ (33) 33 33 ∞ 25 0.16 Restructuring and Other Charges (1) $ Nine Months Ended December 25, 2021 SA SA SA SA (25) 25 25 2 23 0.15 COVID-19 Related Charges $ SA EA $ (9) (2) (7) (7) (7) (0.05) Capri ERP Implementation Transformation $ $ SA $ $ (11) 11 11 7 0.05 $ GA $ $ $ $ (15) $ 15 $ 15 $ $ 6 $ 0.04 $ O As Adjusted 2,779 1,918 861 873 77 795 5.17 (1) Includes store closure costs which have been incorporated into the Capri Retail Store Optimization Program, other restructuring initiatives and other costs recorded in connection with the acquisitions of Gianni Versace S.r.l. and Jimmy Choo Group Limited#14RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Gross profit Operating expenses Total income from operations Income before provision for income taxes (Benefit) provision for income taxes Net income attributable to Capri Diluted net income per ordinary share - Capri (1) As Reported $ CA SA $ 848 681 16 173 (5) 179 1.18 Impairment Charges $ GA $ Three Months Ended December 26, 2020 $ (90) 90 90 19 71 0.47 Restructuring and Other Charges (1) $ $ SA $ $ (1) (1) 2 0.01 COVID-19 Related $ $ CA Charges (5) (4) (1) (1) 1 (2) (0.01) As Adjusted $ SA $ $ 843 586 257 263 14 250 1.65 Includes store closure costs which have been incorporated into the Capri Retail Store Optimization Program, other restructuring initiatives, and other costs recorded in connection with the acquisitions of Gianni Versace S.r.l. and Jimmy Choo Group Limited.#15RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In millions, except per share data) Gross profit Total operating expenses Total income from operations Income before provision for income taxes Provision for income taxes Net income attributable to Capri Diluted net income per ordinary share - Capri (1) As Reported $ 1,860 1,702 158 139 20 121 0.80 Impairment Charges $ $ $ (110) 110 110 28 82 $ 0.53 Nine Months Ended December 26, 2020 Restructuring and Other Charges (1) $ $ $ $ (18) 18 18 (2) 20 0.13 COVID-19 Related Charges $ $ GA $ (13) GA (15) $ 2 2 (2) 4 $ 0.03 Capri Transformation $ SA EA $ (2) 2 2 1 1 0.01 ERP Implementation $ $ GA $ $ (2) As Adjusted 1,847 2 $ 2 $ (1) 3 0.02 $ 1,555 292 273 44 231 1.52 Includes store closure costs which have been incorporated into the Capri Retail Store Optimization Program, other restructuring initiatives, and other costs recorded in connection with the acquisitions of Gianni Versace S.r.l. and Jimmy Choo Group Limited.#16SAFE HARBOR STATEMENT This presentation contains statements which are, or may be deemed to be, “forward-looking statements." Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Capri Holdings Limited (the "Company") about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. All statements other than statements of historical facts included herein, may be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words "plans”, “believes”, “expects", "intends", "will", "should”, “could”, “would”, “may", "anticipates", "might" or similar words or phrases, are forward-looking statements. These forward- looking statements are not guarantees of future financial performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in any forward-looking statements. These risks, uncertainties and other factors include the effect of the COVID-19 pandemic and its potential material and significant impact on the Company's future financial and operational results if retail stores are forced to close again and the pandemic is prolonged, including that our estimates could materially differ if the severity of the COVID-19 situation worsens, or if there are further supply chain disruptions, including additional production delays and increased costs, the length and severity of such outbreak across the globe and the pace of recovery following the COVID-19 pandemic; levels of cash flow and future availability of credit; compliance with restrictive covenants under the Company's credit agreement; the Company's ability to integrate successfully and to achieve anticipated benefits of any acquisition and to successfully execute our growth strategies; the risk of disruptions to the Company's businesses; risks associated with operating in international markets and our global sourcing activities; the risk of cybersecurity threats and privacy or data security breaches; the negative effects of events on the market price of the Company's ordinary shares and its operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the Company's businesses; fluctuations in demand for the Company's products; levels of indebtedness (including the indebtedness incurred in connection with acquisitions); the timing and scope of future share buybacks, which may be made in open market or privately negotiated transactions, and are subject to market conditions, applicable legal requirements, trading restrictions under the Company's insider trading policy and other relevant factors, and such share repurchases may be suspended or discontinued at any time; the level of other investing activities and uses of cash; changes in consumer traffic and retail trends; loss of market share and industry competition; fluctuations in the capital markets; fluctuations in interest and exchange rates; the occurrence of unforeseen epidemics and pandemics, disasters or catastrophes; political or economic instability in principal markets; adverse outcomes in litigation; and general, local and global economic, political, business and market conditions, as well as those risks set forth in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended March 27, 2021 (File No. 001-35368). Any forward-looking statement in this press release speaks only as of the date made and the Company disclaims any obligation to update or revise any forward-looking or other statements contained herein other than in accordance with legal and regulatory obligations.