#1LVMH LVMH FIRST HALF 2021 RESULTS JULY 26, 2021 DISCLAIMER 2 This document may contain certain forward looking statements which are based on estimations and forecasts. By their nature, these forward looking statements are subject to important risks and uncertainties and factors beyond our control or ability to predict, in particular those described in LVMH's Universal Registration Document which is available on the website (www.lvmh.com). These forward looking statements should not be considered as a guarantee of future performance, the actual results could differ materially from those expressed or implied by them. The forward looking statements only reflect LVMH's views as of the date of this document, and LVMH does not undertake to revise or update these forward looking statements. The forward looking statements should be used with caution and circumspection and in no event can LVMH and its Management be held responsible for any investment or other decision based upon such statements. The information in this document does not constitute an offer to sell or an invitation to buy shares in LVMH or an invitation or inducement to engage in any other investment activities. LVMH#2FIRST HALF 2021 RESULTS FIRST HALF 2021 RESULTS BUSINESS GROUP REVIEW LVMH Louis Vuitton Christian Dior Couture LVMH LVMH RECORD FIRST HALF PERFORMANCE 3. | Excellent start to the year, notably for major brands, in environment marked by abating of global health crisis and by absence of return to international travel | Outstanding performance of Fashion and Leather goods division, especially for Louis Vuitton, Christian Dior, Fendi, Loewe and Celine, all of which are gaining market share and reaching record levels of revenue and profitability | Sustained growth in Asia and the US and gradual recovery in Europe | Good progress on integration of Tiffany, which has delivered excellent performance since its acquisition | Strong growth in Direct to Client sales in stores and remotely Travel retail and hotel activities still penalized by limited recovery of international travel | Outstanding operating free cash flow LVMH#3FIRST HALF 2021 RESULTS WINES & SPIRITS LVMH FIRST HALF 2021 RESULTS LVMH WINES & SPIRITS KEY FIGURES ■Champagne and Wines Cognac and Spirits In millions of euros ⚫ REVENUE H1 2021 H1 2020 754 H1 2019 1129 960 ⚫ PROFIT FROM RECURRING OPERATIONS H1 2021 H1 2020 103 H1 2019 214 319 448 % change vs H1 2020 % change vs H1 2019 1230 558 605 1576 Ruinart CHAMPAGNE BLANC DE BLANCS + 36% reported + 9% + 44% organic +12% 2 705 1985 1526 2 486 + 68% + 20% 924 551 772 LVMH 6#4FIRST HALF 2021 RESULTS FIRST HALF 2021 RESULTS Chandon LVMH WINES & SPIRITS H1 2021 HIGHLIGHTS 7 Sustained demand in the US and strong rebound in China | CHAMPAGNE & WINES • • Champagne: volumes +57 % vs H1 2020 (+10 % vs H1 2019) Strong recovery in demand in Europe and the US, especially in Q2 particularly impacted last year by health crisis • . • Successful integration of Provence Rosé, Château d'Esclans Partnership with Shawn JAY-Z Carter with the acquisition of 50% in Armand de Brignac Successful launch of Chandon Garden Spritz, blend of Argentinian sparkling wine with natural extracts of orange peel | COGNAC & SPIRITS • . Hennessy: volumes +24 % vs H1 2020 (+6% vs H1 2019) despite tight supply Sustained growth of American market, especially for Hennessy VS, which far exceeded 2019 levels Strong revenue rebound in China over first half Very strong momentum of Glenmorangie and Ardbeg Scotch whiskies WINES & SPIRITS 2021 OUTLOOK LVMH ΧΟ Hennessy | Strengthen value creation strategy, based on authenticity and product excellence | Manage supply constraints, compounded by excellent momentum of H1 | Pursue product innovations and adapt to new ways of consumption | Accelerate online sales, notably through partnership with Campari | Confirm actions to protect the environment - strengthen efforts on reforestation and biodiversity Hennessy LVMH 8#5FIRST HALF 2021 RESULTS FASHION & LEATHER GOODS LVMH FIRST HALF 2021 RESULTS Christian Dior Couture FASHION & LEATHER GOODS KEY FIGURES In millions of euros ⚫ REVENUE H1 2021 H1 2020 H1 2019 ⚫ PROFIT FROM RECURRING OPERATIONS H1 2021 H1 2020 H1 2019 LVMH שש % change vs H1 2020 + 74% % change vs H1 2019 reported + 33% + 81% organic + 38% 13 863 7 989 10 425 x 3.2 + 74% 5 660 1 769 3 248 LVMH 10#6FIRST HALF 2021 RESULTS FIRST HALF 2021 RESULTS Fendi Loewe LVMH 11 FASHION & LEATHER GOODS H1 2021 HIGHLIGHTS Great performance of Louis Vuitton and Christian Dior | Louis Vuitton: exceptional performance, driven by creative momentum and quest for artisanal excellence • • Strengthened client relations with innovative digital initiatives New campaign for iconic Alma, Capucines and Twist bags Inaugurated stores in iconic cities (Paris, Tokyo..) Continued partnership with Unicef with new model Silver Lockit | Christian Dior Couture: outstanding growth in all product categories • Success of new Caro bag with iconic caning pattern ⚫ Excellent reception of miniature versions of emblematic bags • Inaugurated summer capsule Dioriviera • Inspiring live fashion shows in Athens and Paris | Fendi: enthusiastic reception of Kim Jones' first fashion shows; success of the Summer Vertigo capsule | Celine: strong demand in Ready-To-Wear and for Leather goods line Triomphe | Loewe: innovative digital concepts for new collections created by J.W. Anderson and success of new Goya bag | Givenchy: Matthew Williams' first collection arrived in stores LVMH FASHION & LEATHER GOODS 2021 OUTLOOK 12 | Maintain strong creative momentum at Louis Vuitton Further extend product offer in all categories Continue to deliver unique experiences across store network and digital universe | Christian Dior Couture Pursue strong growth in all markets Prepare for reopening of historic store at 30 avenue Montaigne in exceptional, innovative format | Fendi: reopening of iconic New York store and launch of first Kim Jones collections in stores | Continue to strengthen creativity at other brands to benefit from progressive reopening of markets LVMH#7FIRST HALF 2021 RESULTS PERFUMES & COSMETICS LVMH FIRST HALF 2021 RESULTS PERFUMES & COSMETICS KEY FIGURES In millions of euros ⚫ REVENUE H1 2021 H1 2020 H1 2019 LVMH Miss Dior % change vs H1 2020 % change vs H1 2019 reported + 31% -6% +37% organic -3% 3 025 2 304 3 236 ⚫ PROFIT FROM RECURRING OPERATIONS H1 2021 na + 1% 393 HT 2020 H1 2019 - 30 387 LVMH 14#8FIRST HALF 2021 RESULTS FIRST HALF 2021 RESULTS Guerlain LVMH 15 PERFUMES & COSMETICS H1 2021 HIGHLIGHTS Strong growth in direct-to-client sales and maintained selectivity in distribution | Parfums Christian Dior: strong acceleration in activity with local clienteles Continued success of perfumes Sauvage, Miss Dior, J'Adore and Dior Homme ⚫ Roll-out of refillable lipstick Rouge Dior Strong expansion of Prestige skincare line | Guerlain: continued success of Abeille Royale, particularly in China; inauguration of new point of sales concept in Le Bon Marché | Parfums Givenchy: market share gains thanks to the success of L'Interdit perfume and promising relaunch of Irresistible line | Fresh: good momentum in ultra-premium skincare with Crème Ancienne White Truffe Extended complexion collection at Fenty Beauty and opened first Fenty Skin points of sale | Maison Francis Kurkdjian: new collection of fragrances Aqua Cologne Forte PERFUMES & COSMETICS 2021 OUTLOOK LVMH 16 fresh KOMBUCHA FACIAL TREATMENT ESSENCE ANTI-POLLUTION SMOOTHES & STS LUMINOSITY SSENTIEL KOMBUCHA 4floz | Maintain innovation and creative momentum despite uncertain environment | Parfums Christian Dior: support iconic lines Sauvage, Miss Dior and J'Adore; new products consistent with Couture and its roots in Grasse; expansion of Capture line | Guerlain: major launch in high-end perfumery | Parfums Givenchy: roll-out of premium skincare line Le soin Noir | New powders at Fenty Beauty | Omni-channel expansion combining physical stores and online sales for a well-integrated customer experience Fresh LVMH#9FIRST HALF 2021 RESULTS WATCHES & JEWELRY LVMH FIRST HALF 2021 RESULTS WATCHES & JEWELRY KEY FIGURES In millions of euros ⚫ REVENUE H1 2021 H1 2020 H1 2019 ⚫ PROFIT FROM RECURRING OPERATIONS H1 2021 H1 2020 LVMH TIFFANY & CO. % change vs H1 2020 x 3.1 % change vs H1 2019 reported + 88% + 71% organic H1 2019 * Effect of Tiffany's integration of 339 millions of euros +5% 4 023 1319 2 135 na + 122% TIFFANY & CO. *794 - 17 357 LVMH 18#10FIRST HALF 2021 RESULTS LVMH 19 55 60 CARRERA 120 135 150 170 05 240 00 TAG Heuer WATCHES & JEWELRY H1 2021 HIGHLIGHTS Strong rebound of activity in own stores and first integration of Tiffany | Tiffany: excellent semester, momentum particularly strong in Asia and the US Presentation of high-end jewelry collection Blue Book in China • ⚫ Launch of the first men's engagement ring, Charles Tiffany Setting ⚫ Rosé, new global ambassador, especially for Tiffany Hardwear line | Bvlgari: good progress of jewelry, particularly in own stores • • Success of Bzero1 Rock line, released in 2020 Good momentum for new line Serpenti Viper and Serpenti Seduttori watches • Excellent reception of high-end jewelry collection Magnifica | TAG Heuer: major partnership with Porsche; new chronograph Carrera Porsche | Hublot: new connected Big Bang UEFA Euro 2020TM watch | Zénith: successful launch of new Chronomaster Sport watch | Chaumet: inauguration of exhibition « Joséphine et Napoléon » at 12 place Vendôme | Fred: successful launch of Pretty Woman collection LVMH FIRST HALF 2021 RESULTS Bvlgari WATCHES & JEWELRY 2021 OUTLOOK 20 | Continued innovation, new digital initiatives and qualitative development of distribution |Tiffany: renewed innovative communication; launch of new collection of gold jewelry | Bvlgari: enrichment of Diva's Dream and Bzero 1 lines; inauguration of renovated store place Vendôme in Paris | Maintain cost controls and targeted investments LVMH#11FIRST HALF 2021 RESULTS SELECTIVE RETAILING LVMH FIRST HALF 2021 RESULTS SELECTIVE RETAILING KEY FIGURES In millions of euros ⚫ REVENUE H1 2021 H1 2020 H1 2019 LVMH % change vs H1 2020 + 5% % change vs H1 2019 reported - 28% +12% organic - 25% 5 085 4 844 7 098 ⚫ PROFIT FROM RECURRING OPERATIONS H1 2021 na - 82% H1 2020 H1 2019 131 - 308 22 714 LVMH#12FIRST HALF 2021 RESULTS FIRST HALF 2021 RESULTS La Samaritaine LVMH SELECTIVE RETAILING H1 2021 HIGHLIGHTS 23 Strengthened Sephora in most markets and DFS still penalized by limited recovery of international travel SEPHORA • • • | DFS • Good performance despite sanitary constraints Reinforced positions in key markets, especially in the US, China and Middle East Record level of online revenue supported by efficiency of omni-channel system Growing commitments to diversity and inclusion Revenue still lower than 2019 level due to limited recovery of international airline traffic Inauguration of first store in Hainan, in partnership with Shenzhen Duty Free • Developed several digital initiatives for more effective interaction with customers Opening of La Samaritaine Paris Pont-Neuf after ambitious renovation SELECTIVE RETAILING 2021 OUTLOOK LVMH 24 SEPHORAC | SEPHORA . • Product innovation and develop personalized services to further build competitive edge Accelerate digital expansion in Europe through partnership with Zalando New Sephora locations in Kohl's stores in the US | DFS • • Resumption of trips to Macao Prepare major openings in 2022 in Brisbane (Australia) and Queenstown (NZ) Maintain rigorous cost management | LE BON MARCHÉ Plan for «Porte-Bonheurs » exhibition in the fall Launch of digital platform of services and experiences Sephora LVMH#13FIRST HALF 2021 RESULTS CONSOLIDATED KEY FIGURES H1 2021 LVMH FIRST HALF 2021 RESULTS H1 2021 REVENUE BY BUSINESS GROUP LVMH 2021 vs 2020 In millions of euros H1 2020 H1 2021 Reported growth WINES & SPIRITS 1985 2 705 + 36% + 44% Organic growth* 2021 vs 2019 Organic growth + 12% FASHION & LEATHER GOODS 7 989 13 863 + 74% + 81% + 38% PERFUMES & COSMETICS 2 304 3 025 + 31% + 37% -3% WATCHES & JEWELRY 1 319 4 023 x 3.1 + 71% + 5% SELECTIVE RETAILING 4 844 5 085 + 5% + 12% -25% OTHERS & ELIMINATIONS TOTAL LVMH (48) 18 393 (36) 28 665 + 56% + 53% + 11% * With comparable structure and constant exchange rates. The structural impact for the Group compared to the first half of 2020 was +10% linked entirely to the consolidation of Tiffany & Co. for the first time. The currency effect was - 7%. As table totals are calculated based on unrounded figures, there may be slight discrepancies between these totals and the sum of their component figures. 26 LVMH#14FIRST HALF 2021 RESULTS REVENUE EVOLUTION BY BUSINESS GROUP LVMH 2021 vs 2020 2021 vs 2019 Organic growth Q1 2021 Q2 2021 H1 2021 Q1 2021 Q2 2021 H1 2021 WINES & SPIRITS + 36% + 55% + 44% + 17% + 7% + 12% FASHION & LEATHER GOODS + 52% X 2.2 + 81% + 37% + 40% + 38% PERFUMES & COSMETICS + 18% + 67% + 37% - 4% - 1% - 3% WATCHES & JEWELRY + 35% X 2.2 + 71% + 1% + 9% + 5% SELECTIVE RETAILING 5% + 31% + 12% 30% 19% 25% TOTAL LVMH + 30% + 84% + 53% + 8% + 14% + 11% FIRST HALF 2021 RESULTS H1 2021 REVENUE BREAKDOWN BY REGION In % of total revenue 14% 25% 5% EUROPE (excl. France) FRANCE UNITED STATES 38% 7% (inc. Hawaii) JAPAN ASIA (excl. Japan) 11% OTHER MARKETS 27 LVMH 28 LVMH#15FIRST HALF 2021 RESULTS REVENUE EVOLUTION BY REGION LVMH 2021 vs 2020 2021 vs 2019 Organic growth Q1 2021 Q2 2021 H1 2021 Q1 2021 Q2 2021 H1 2021 UNITED STATES + 23% X 2.1 + 60% + 15% + 31% +23% JAPAN 8% X 2.1 + 42% 3% 4% 3% ASIA (EXCL. JAPAN) EUROPE + 86% + 55% + 70% + 26% + 34% +30% 9% + 87% + 25% 18% 15% - 16% FIRST HALF 2021 RESULTS INCOME STATEMENT SUMMARIZED 29 LVMH In millions of euros REVENUE H1 2019 H1 2020 H1 2021 % Change vs H1 2020 % Change vs H1 2019 25 082 18 393 28 665 + 56% + 14% GROSS MARGIN 16 635 11 391 19 556 + 72% + 18% Marketing and selling expenses (9 563) (8 000) (9 804) + 23% + 3% General and administrative expenses Equity investment income (1789) 12 (1 699) (2 099) + 24% + 17% (21) PROFIT FROM RECURRING OPERATIONS 5 295 1 671 (21) 7 632 + 357% + 44% Other operating income and expenses (54) (154) OPERATING PROFIT 5 241 1 517 (34) 7 598 + 401% + 45% Net financial income (expense) (205) (462) Income taxes (1 431) (511) (12) (2010) NET PROFIT BEFORE MINORITY 3 605 544 5 576 + 925% + 55% INTERESTS Minority interests (337) (22) (287) GROUP SHARE OF NET PROFIT 3 268 522 5 289 + 913% + 62% 30 LVMH#16FIRST HALF 2021 RESULTS LVMH PROFIT FROM RECURRING OPERATIONS BY BUSINESS GROUP In millions of euros H1 2020 H1 2021 % Change vs H1 2020 % Change vs H1 2019 WINES & SPIRITS 551 924 + 68% 20% FASHION & LEATHER GOODS 1 769 5 660 X 3.2 + 74% PERFUMES & COSMETICS (30) 393 + 1 % WATCHES & JEWELRY (17) *794 + 122 % SELECTIVE RETAILING (308) 131 82% OTHERS AND ELIMINATIONS (294) (270) TOTAL LVMH 1 671 7 632 X 4.6 + 44 % * non comparable perimeter. FIRST HALF 2021 RESULTS EVOLUTION OF PROFIT FROM RECURRING OPERATIONS In millions of euros 1 671 Organic Structural impact Currency effect +5 936 +333 - 308 7 632 H1 H1 2020 2021 31 LVMH 32 LVMH#17FIRST HALF 2021 RESULTS LVMH CHANGE IN NET FINANCIAL INCOME (EXPENSE) In millions of euros COST OF NET FINANCIAL DEBT H1 2020 H1 2021 Change (M€) (46) 11 + 57 40 INTEREST ON LEASE LIABILITIES (149) (140) + 9 COST OF CURRENCY DERIVATIVES (116) (98) + 18 FAIR VALUE ADJUSTMENT OF AVAILABLE (136) 235 +371 FOR SALE FINANCIAL ASSETS OTHER ITEMS - NET (15) (20) 5 NET FINANCIAL INCOME (EXPENSE) (462) (12) + 450 FIRST HALF 2021 RESULTS SOUND FINANCIAL STRUCTURE Change versus December 31, 2020 | Increased intangible assets mainly due to Tiffany's integration and revaluation of purchase commitments for minority interests | Increased inventories resulting from Tiffany's integration and progress in business activity | Progress in total equity linked to increased net result and impact of currency change | Increased net financial debt following the disbursement of Tiffany's acquisition price 116.6 In billions of euros. 116.6 33 LVMH 37% Total equity Non current 74% assets 40% Non current liabilities Inventories Other current 14% 23% Current liabilities 12% assets ASSET LIABILITIES June 30, 2021 34 LVMH#18FIRST HALF 2021 RESULTS LVMH ANALYSIS OF CASH FLOW FROM OPERATIONS In millions of euros H1 2020 H1 2021 Change (M€) CASH FROM OPERATIONS BEFORE CHANGES IN WORKING CAPITAL 4421 10 169 + 5 748 Cost of net financial debt: interest paid (42) Tax paid Lease liabilities: interest paid Change in working capital (142) 40 (132) + 82 +10 (1 382) (2005) (1 590) (765) - 208 +1 240 NET CASH FROM OPERATING ACTIVITIES 850 7 722 Operating investments (1 414) Repayment of lease liabilities (1 157) (1191) (1 243) + 6 872 +223 86 OPERATING FREE CASH FLOW* (1 721) 5 288 + 7 009 * Before available for sale financial assets and investments, transactions relating to equity and financing activities. An interim dividend of €3.00 per share to be paid on December 2nd, 2021 FIRST HALF 2021 RESULTS NET FINANCIAL DEBT In millions of euros 15 265 8 230 8 684 7 153 7 359 6 206 24% 5 487 25% 23% 3 850 22% 4 241 16% 16% 14% 36% d 11% 30/06/2017 31/12/2017 30/06/2018 31/12/2018 30/06/2019 31/12/2019* 30/06/2020 31/12/2020 30/06/2021 Net financial debt Gearing * Incorporating for the first time the effects of the application of IFRS 16 Leases. 35 LVMH 36 LVMH#19FIRST HALF 2021 RESULTS CONCLUSION LVMH LVMH FIRST HALF 2021 RESULTS TAKING ADVANTAGE OF THE RECOVERY IN 2021 WHILE STAYING VIGILANT | Maintain vigilance in environment still disrupted by global health crisis 38 | Remain focused on strengthening desirability of our brands, quality of our products and their distribution | Ensure good first year integration of Tiffany | Pursue further digitalization of our Maisons to enrich customers' experience online and in stores | Continue to execute on Group's commitments to preserve the environment and corporate responsibility | Build upon entrepreneurship and agility of our organization Louis Vuitton REINFORCE LVMH'S GLOBAL LEADERSHIP POSITION IN LUXURY GOODS IN 2021 LVMH