#1LEVI STRAUSS & CO. INVESTOR DAY - 2022 CONFIDENTIAL Ⓒ2022 Levi Strauss & Co.#2SAFE HARBOR Our presentation today contains forward-looking statements. We have based these statements on our current assumptions, expectations and projections. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ. For information on these risks and uncertainties, please see our Annual Report on Form 10-K for fiscal year 2021 and our Quarterly Report on Form 10-Q for the first fiscal quarter of 2022, in particular the "Risk Factors" sections. Our discussion today will also include certain non-GAAP financial measures. For information on these non-GAAP financial measures, please see the "Reconciliation of GAAP to Non-GAAP" section at the end of this presentation. A reconciliation of non-GAAP forward looking information to the corresponding GAAP measures cannot be provided without unreasonable efforts due to the challenge in quantifying various items including but not limited to, the effects of foreign currency fluctuations, taxes, and any future restructuring, restructuring-related, severance and other charges. LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 2#3LEVI STRAUSS & CO. INVESTOR DAY - 2022 CEO KEYNOTE SPEECH Chip Bergh President & Chief Executive Officer CONFIDENTIAL AXXENTE *M Ⓒ2022 Levi Strauss & Co.#4LEVI STRAUSS & CO. President & Chief Executive Officer CHIP BERGH ©2022 Levi Strauss & Co. CONFIDENTIAL 4#5BE THE WORLD'S BEST APPAREL COMPANY, FAMOUS FOR OUR BRANDS AND VALUES LEVI STRAUSS & CO. E OUR LEN STRAS ASPIRATION Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 5#6OUR MISSION LEVI'S LEVI STRAUSS & CO. DELIVER PROFITS THROUGH PRINCIPLES TO MAKE AN OUTSIZED IMPACT ON THE WORLD Levi's STRAUSS & LEVI STRAUSS & CO levi? DRED 105 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 6#7ACCELERATING LEVI STRAUSS & CO. Brand Led Digital Transformation GROWTH Net revenue +6-8% annually LEVI STRAUSS & CO. WHERE TO PLAY ●●● </> DTC First HOW TO WIN Operational Excellence PROFITABILITY Adjusted EBIT -15% by 2027E مهه Diversify the Portfolio Financial Discipline SHAREHOLDER VALUE +10-12% annually Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 7#8OUR COMPETITIVE STRENGTHS 1. ICONIC BRANDS 2. LOYAL CONSUMERS 3. DIVERSIFIED BUSINESS 4. GLOBAL SCALE 5. PROFITS THROUGH PRINCIPLES 6. STRONG LEADERSHIP LEVI STRAUSS & CO. Brands with deep heritage, superior product quality and a culture of innovation Strong connections with consumers around the globe Robust, diversified business model across regions, channels and categories Multi-country, diversified sourcing base Values-driven company with an unwavering commitment to corporate citizenship Proven management team with a track record of success ©2022 Levi Strauss & Co. CONFIDENTIAL 8#9OUR LEADERSHIP TEAM LEVI STRAUSS & CO. Chip Bergh President & Chief Executive Officer -11 YEARS AT LS & CO. Seth Jaffe Executive Vice President & General Counsel ~ 11 YEARS AT LS & CO. Liz O'Neill Executive Vice President & Chief Operations Officer -9 YEARS AT LS & CO. Santiago Cucci Chief Executive Officer of Dockers® Brand -9 YEARS AT LS&CO. Tracy Layney Senior Vice President & Chief Human Resources Officer - 2 YEARS AT LS&CO. Harmit Singh Chief Financial Officer -9 YEARS AT LS & CO. Seth Ellison Executive Vice President & Chief Commercial Officer ~10 YEARS AT LS & CO. Heidi Manes Senior Vice President & Chief Transformation Officer - 20 YEARS AT LS&CO. Michelle Wahler Chief Executive Officer & Co-Founder of Beyond YogaⓇ <1 YEAR AT LS&CO. 3244 Karyn Hillman Senior Vice President & Chief Product Officer -9 YEARS AT LS & CO. Kelly McGinnis Senior Vice President & Chief Communications Officer -9 YEARS AT LS&CO. Katia Walsh Senior Vice President & Chief Strategy and Artificial Intelligence Officer -3 YEARS AT LS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 9#10OUR PRESENTERS Chip Bergh President & Chief Executive Officer LEVI STRAUSS & CO. PRIOR EXPERIENCE P&G Santiago Cucci Chief Executive Officer of Dockers® Brand PRIOR EXPERIENCE KAPORAL TOMMY HILFIGE Liz O'Neill Executive Vice President & Chief Operations Officer PRIOR EXPERIENCE Gap Inc. DISNEY STORE Abercrombie & Fitch ELED Seth Ellison Executive Vice President & Chief Commercial Officer PRIOR EXPERIENCE ALTERNATIVE PERRY ELLIG Harmit Singh Chief Financial Officer PRIOR EXPERIENCE HYAIT Yum! Karyn Hillman Senior Vice President & Chief Product Officer PRIOR EXPERIENCE Gap Inc. Calvin Klein Jeans Michelle Wahler Chief Executive Officer & Co-Founder of Beyond YogaⓇ PRIOR EXPERIENCE BEYOND YOGA Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 10#11EXECUTION OF OUR PRIOR PLAN ACCELERATED GROWTH I I I LEVI STRAUSS & CO. I I I I I I 1 Chip joined LS&Co. as CEO Flat 2011 Assembled new leadership team Established 3 strategic priorities Restructured Cost Base Launched Live in Levi's® campaign 2012 2013 2014 Reset women's collection 2015 Leaned into tops 2016 +6% CAGR Increased A&P 2017 European acceleration 2018 2019 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 11#12TRANSFORMATION STRATEGIC PRIORITIES GROW THE PROFITABLE CORE LEVI STRAUSS & CO. EXPAND FOR MORE WORLD CLASS OMNI-CHANNEL RETAILER LEVI'S Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 12#13EXECUTION OF OUR PLAN HAS TRANSFORMED OUR BUSINESS 11 LEVI STRAUSS & CO. Direct-to-Consumer (DTC) Ecommerce International Women's Tops FY11 % OF NET REVENUE 22% 2% 50% 26% 10% FY21 % OF NET REVENUE 36% 8% 55% 33% 20% ©2022 Levi Strauss & Co. CONFIDENTIAL 13#14EXECUTION OF OUR PLAN HAS TRANSFORMED OUR FINANCIALS Net revenue Adjusted gross margin Adjusted EBIT margin Net debt LEVI STRAUSS & CO. FY11 $4.8B 48.1% 8.5% $1.8B FY21 $5.8B 57.9% 12.4% $0.1B ©2022 Levi Strauss & Co. CONFIDENTIAL 14#152021: SNAPSHOT OF OUR BUSINESS TODAY 14% Asia Europe 30% ~50,000 RETAIL LOCATIONS LEVI STRAUSS & CO. 110 COUNTRIES Levi's 5% 87% Other Brands (Beyond YogaⓇ and Dockers) Americas 51% NET REVENUES 75% BOTTOMS U 2 65% ² MEN'S 5% $5.8B ↑ 20% TOPS 2 33% ² WOMEN'S 5% FOOTWEAR AND ACCESSORIES DENIZEN -FROM- Levi's SIGNATURE ..LEVI STRAUSS. 8% 58% Wholesale ex-franchises 6% Wholesale franchises -3,100 BRAND- DEDICATED STORES AND SHOP-IN-SHOPS 28% 1. Percentages are of total net revenues in 2021. Other numbers are for or as of the end of 2021 2. Approximately 2% of sales are non-gender Direct-to-consumer stores 8% E-commerce (Company-operated BEYOND YOGA only) ©2022 Levi Strauss & Co. CONFIDENTIAL 15#16OUR 2022-2027 BUSINESS STRATEGIES LEVI STRAUSS & CO. BRAND LED Vate Vote CORA MAI Don't just talk about it. Vote about it. TUD itu In TAPER DTC FIRST LOOSE DIVERSIFY THE PORTFOLIO ©2022 Levi Strauss & Co. CONFIDENTIAL 16#17silverial LEVI STRAUSS & CO. FEDER SANG BRAND LED LEVI'S® BRAND MORE RELEVANT THAN EVER #1 Market share gainer in 20211 #Unaided apparel brand awareness² 1. Euromonitor 2. Global Brand Equity Study Q1 2022 ©2022 Levi Strauss & Co. CONFIDENTIAL 17#18LARGE, GROWING AND ATTRACTIVE CATEGORY GLOBAL APPAREL AND ACCESSORIES MARKET (at retail) GLOBAL JEANS MARKET (at retail) LEVI STRAUSS & CO. $1.6T $100B Ⓡ Levi's $6B $92B 2016 GLOBAL JEANS MARKET $98B 2019 Source: Euromonitor market sizes, 2022E at left; Levi's brand is FY22E net revenue $91B 2021 +6% CAGR $111B 2024E 2026E ©2022 Levi Strauss & Co. CONFIDENTIAL 18#19DTC FIRST GROWING DTC WHILE EXPANDING PROFITABILITY PLAN TO GROW DTC TO 55% OF NET REVENUE BY 2027E LEVI STRAUSS & CO. Levi's DTC AS A % OF NET REVENUE 36% 2021 55% 2027E ©2022 Levi Strauss & Co. CONFIDENTIAL 19#20BRICK-AND-MORTAR DTC 56 LEVI STRAUSS & CO. Levi's THE LEVI'S TALOR SPO 消火栓 Levi's www ܘ ܘܘ ©2022 Levi Strauss & Co. CONFIDENTIAL 20#21ECOMMERCE DTC LEVI STRAUSS & CO. Discover Shop LEVIS SHOP NOW Indige is the New Black WHEN IT COMES TO FRIDAYS, INDIGO IS THE NEW BLACK. ©2022 Levi Strauss & Co. CONFIDENTIAL 21#22# EVOLVED, MORE PROFITABLE WHOLESALE LEVI STRAUSS & CO. [.O Healthier, structurally improved profitability More premium, digital, and high-quality distribution Less off-price and traditional brick-and-mortar ©2022 Levi Strauss & Co. CONFIDENTIAL 22#23DIVERSIFIED PORTFOLIO CAPTURING UNDERPENETRATED OPPORTUNITIES BEYOND YOGA LEVI STRAUSS & CO. Women's 2X Tops +$1B Diversifying geographically Other brands COU Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 23#24EXECUTION WILL DRIVE OUR SUCCESS HOW WE WILL WIN DIGITAL TRANSFORMATION Y LEVI STRAUSS & CO. AMA SAP AMAR OPERATIONAL EXCELLENCE PIETE www FINANCIAL DISCIPLINE JEAR SALE 30% OFF Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 24#25DIGITAL TRANSFORMATION LEVI STRAUSS & CO. SON Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 25#26PROFITS THROUGH PRINCIPLES GIVING BACK NEVER GOES DUT OF STYLES LEVI STRAUSS & CO. ivi LEVI STRAUSS & CO. GIVING BACK TO OUR COMMUNITIES punty Elections Department in Avenue 99999-1234 ADVOCATING FOR WHAT'S RIGHT AUS S& STRE $1060713 S ין 61 900 FS SP 62400 SOCIAL & ENVIRONMENTAL SUSTAINABILITY Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 26#27INVESTMENT THESIS 1. ICONIC BRANDS 2. ATTRACTIVE CATEGORIES 3. GLOBAL SCALE 4. DIVERSIFIED BUSINESS 5. STRONG FINANCIALS 6. PROVEN LEADERSHIP LEVI STRAUSS & CO. Brands with deep heritage, superior product quality and a culture of innovation Large and growing categories with secular tailwinds Multi-country, diversified sourcing base Robust, diversified business model across regions, channels and categories Solid financial foundation with a strategy to accelerate profitable growth Strong management team with a track record of success ©2022 Levi Strauss & Co. CONFIDENTIAL 27#28LEVI STRAUSS & CO. INVESTOR DAY - 2022 LEVI'S® BRAND Karyn Hillman Senior Vice President & Chief Product Officer CONFIDENTIAL Levi's Ⓒ2022 Levi Strauss & Co.#29LEVI STRAUSS & CO. *** Senior Vice President & Chief Product Officer KARYN HILLMAN ©2022 Levi Strauss & Co. CONFIDENTIAL 29#30WE WILL BE THE MOST LOVED AND RELEVANT LIFESTYLE BRAND. LEVI STRAUSS & CO. OUR VISION Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 30#31TO UNLEASH AND INSPIRE "AUTHENTIC SELF" EXPRESSION EVERY DAY LEVI STRAUSS & CO. OUR PROMISE Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 31#32THE LEVI'S® BRAND IS THE STRONGEST IT'S EVER BEEN LEVI STRAUSS & CO. #1 #1 #1 UNAIDED APPAREL BRAND AWARENESS ¹ GLOBAL JEANS BRAND² DENIM AUTHORITY, QUALITY TRENDSETTING, FIT AND COMFORT¹ 1. Global Brand Equity Study, Q1 2022 2. Euromonitor, 2021 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 32#33MEN'S JEANS MARKET SHARE GLOBAL LEADER SHARE RANK GLOBALLY LEVI STRAUSS & CO. #1² #1¹ #1² D 3 3 #1¹ #1³ #2³ #1 #1 ¹ Source: 1) Euromonitor 2021, 2) NPD 12ME, Feb. '22, 3) GFK/Kantar Fashion Panel 12ME Feb. '22 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 33#34WE RESET WOMEN'S AND DOUBLED NET REVENUE NET REVENUE $0.7B 2015 2X LEVI STRAUSS & CO. $1.3B 2021 WOMEN'S DENIM ANA tentan 3223 LEVI STRAUSS GO ©2022 Levi Strauss & Co. CONFIDENTIAL 34#35OVER THE LAST 6 YEARS, WE DOUBLED TOPS NET REVENUE $0.46B 2015 LEVI STRAUSS & CO. 2X TOPS $1.1B 2021 C Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 35#36WE GAINED WITH YOUNGER CONSUMERS WITH CONSUMERS 18-30, WE INCREASED: BRAND AWARENESS ● • OWNERSHIP ● BRAND RECOMMENDATION LEVI STRAUSS & CO. Levi's Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 36#37OUR STRATEGY WILL UNLOCK THE NEXT PHASE OF GROWTH 1 BEHEREN SETT AMPLIFY DENIM LEADERSHIP LEVI STRAUSS & CO. 2 ACCELERATEL LIFESTYLE DIVERSIFICATION Levi's 3 CURRIC UPI | NIGO ACTIVATE BRAND HEAT Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 37#381 AMPLIFY DENIM LEADERSHIP THROUGH BEST-IN-CLASS FIT, FABRIC, STYLE AND INNOVATION LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 38#39LEVI STRAUSS & CO. 7- St. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL I 39#40dy 3 LEVI STRAUSS & CO. Levis Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 40#41LEVI STRAUSS & CO. B LEVI'S Rece XALING ALL Y hear allanmal evi ©2022 Levi Strauss & Co. CONFIDENTIAL 41#42FILMAT LEVI STRAUSS & CO. D Ⓒ2022 Levi Strauss & Co CONFIDENTIAL T 42#43LEVI STRAUSS & CO. Levi's Levi's Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL#44LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 44#452 ACCELERATE LIFESTYLE DIVERSIFICATION ● ● TOPS NON-DENIM BOTTOMS LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 45#46LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 46#47LEVI STRAUSS & CO. BOLDT LEVIS PALLON SLANDS P Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 47#483 ACTIVATE BRAND HEAT V VALENTINO ENERGY LEVI STRAUSS & CO. LY EXPERIENCES BUY BETTER. WEAR LONGER. ENGAGEMENT ©2022 Levi Strauss & Co. CONFIDENTIAL 48#49WE COLLABORATE WITH LEADING BRANDS, ARTISTS AND CULTURAL ICONS LEVI STRAUSS & CO. SAN ORIGINAL MINETED GENUINE QUALITY CLOTHING TRADE MARK <TEXTARTED Dinese formy 77 XX MIU MIU LEVI STRAUSS & CO. 1 M HUMAN MADE Gears for futuristic teenagers LEVI STRAUSS & CO ©2022 Levi Strauss & Co. CONFIDENTIAL 49#50WE CREATE IMMERSIVE EXPERIENCES, LEADING WITH MUSIC LEVI STRAUSS & CO. Levi's MUSIC PROJECT Levi's® KHALID Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 50#51WE AUTHENTICALLY CONNECT THROUGH LET AGS EQUALITY AND INCLUSION LEVI STRAUSS & CO. WITH OUR FANS OUR VALUES Y BLE RPOW VOTING Black Futures X Levi's S WELL R ONS BLY SUSTAINABILITY STYLE ©2022 Levi Strauss & Co. CONFIDENTIAL 51#52STRONG RUNWAY FOR GROWTH LEVI'S® BRAND GLOBAL NET REVENUE $5.6B 2022E $8.0B 2027E 7% CAGR Note: 2022E represents the midpoint of our estimate for Levi's® Brand net revenue in USD billions. This does not include Signature by Levi Strauss & Co.TM and Denizen®. LEVI STRAUSS & CO. 1 2 L3 AMPLIFY DENIM LEADERSHIP ACCELERATE LIFESTYLE DIVERSIFICATION NIGO ACTIVATE BRAND HEAT Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 52#53LEVI STRAUSS & CO. INVESTOR DAY 2022 LEVI'S® DIRECT-TO-CONSUMER ACCELERATION Seth Ellison Executive Vice President & Chief Commercial Officer CONFIDENTIAL 737377 Ⓒ2022 Levi Strauss & Co.#54LEVI STRAUSS & CO. Executive Vice President & Chief Commercial Officer SETH ELLISON ©2022 Levi Strauss & Co. CONFIDENTIAL 54#55ma MAPEX LEVI STRAUSS & CO. PASSICO SETEM LEVI'S VINTAGE CLOTHING JOURNEY TO TODAY ©2022 Levi Strauss & Co. CONFIDENTIAL 55#56WE HAVE CLEAR PRIORITIES FUELED BY TALENT, THE LEVI'S® BRAND, DATA, ANALYTICS, AND DIGITIZATION LEVI STRAUSS & CO. Continue to expand and elevate our footprint globally Increase the productivity of our fleet Accelerate e-commerce with Levi.com as our flagship experience Engage and grow with our loyal fans THR Ⓡ Levi's Ⓒ2022 Levi Strauss & Co. TON HIGH CONFIDENTIAL 56#57LEVI'S® BRANDS DTC OVERVIEW DTC NET REVENUE FY21 $2B $5.5B NET REVENUE 63% Wholesale LEVI STRAUSS & CO. 37% DTC AL DYES DISCOVER NATHAN WESTLING Free shipping for Ley 247 members Detalia Levis Shop Men THE NUMBER THAT CHANGED EVERYTHING Representing the past, present and future of style, 501 Jeans are the real OG. Created 149 years ago, this certified denim legend is the pair ir that started it all. Shop Women Explore 501 Jeans >1,000 COMPANY- OPERATED STORES 501 THE NUMBER THAT What are you looking for? Ste 9 Segun ♡ 09:54 Search The samara shirt dress WEAR IT YOUR WAY SHOP NOW Day, April 22 Clothing presents a six piece capsule collection of Orange Tab anic Cotton 100% o n without synthetic c its healthier farms a LEVI'S VINTAGE CLOTHING EQ Shoe ♡ 247 Member ~19M MEMBERS $0.4B ECOMMERCE NET REVENUE 8% ECOMMERCE % OF NET REVENUE ©2022 Levi Strauss & Co. CONFIDENTIAL 57#58WE HAVE BECOME A SIZEABLE, GLOBAL, BRICK- AND- MORTAR RETAILER 2,940 LEVI STRAUSS & CO. LEVI'S® BRAND STORES AS OF 2021YE Americas Europe Asia Americas 501 Europe 822 Asia 1,617 BUSINESS MODEL DTC company-operated DTC shop-in-shops Wholesale franchises STORE COUNT 1,032 465 1,443 ©2022 Levi Strauss & Co. CONFIDENTIAL 58#59EVEN WITH A PANDEMIC, WE HAVE BEEN STRENGTHENING OUR COMPANY-OPERATED FLEET, PRUNING WEAK LOCATIONS, AND DOUBLING DOWN ON OUR BEST OPPORTUNITIES LEVI STRAUSS & CO. +17% 879 22% 78% 2019 UPGRADING OF OUR COMPANY-OPERATED FLEET (Door count) 994 11% 89% 2020 Relocations and refits Rest of the fleet Data reflects actuals for openings, closings and refits. Refits estimated 1,032 12% 88% 2021 ©2022 Levi Strauss & Co. CONFIDENTIAL 59#60OUR BRAND-DEDICATED FLEET'S DIFFERENT BUSINESS MODELS ALLOW US TO GROW EFFICIENTLY AND DRIVE LEVERAGE IN EACH MARKET LEVI STRAUSS & CO. Global 16% 49% FLEET BREAKDOWN BY BUSINESS MODEL, FY21YE 35% 9% 19% Americas Europe Asia DTC company-operated 72% 13% 45% 19% By Key Geography 501 42% 822 60% DTC shop-in-shops 20% 1,617 Wholesale franchises ©2022 Levi Strauss & Co. CONFIDENTIAL 60#61GLOBALLY, 79% OF OUR LEVI'S® BRAND-DEDICATED DOORS ARE MAINLINE STORES THE STRONGEST REPRESENTATION OF OUR BRAND LEVI STRAUSS & CO. Global 21% FLEET BREAKDOWN BY BUSINESS LINE, FY21YE 79% Americas 47% 53% 501 Europe 17% Mainline Asia 14% Outlet By Key Geography 83% 822 86% Our Levi's® brand-dedicated stores include stores and shop-in-shops operated by LS&Co. or independent third-parties, such as franchisees 1,617 ©2022 Levi Strauss & Co. CONFIDENTIAL 61#62US MAINLINE EXPANSION HAS ALREADY STARTED AND WILL BECOME A KEY GROWTH-DRIVER OVER THE NEXT SEVERAL YEARS COMPANY-OPERATED MAINLINE STORES, FY22E-FY27E LEVI STRAUSS & CO. 701 2022E 100 170 2027E SALE Expand outside of tourist destinations and capitalize on new whitespace Drive mainline expansion to elevate the brand and price points in our largest market Elevate in-store experience and assortment Expand our fleet, adapting to market opportunities, keeping the fleet agile and profitable 1. Of the 70 US mainline stores in 2022, 44 are in our new Next Gen concept ©2022 Levi Strauss & Co. CONFIDENTIAL 62#63OUR CHINA STRATEGY PRIORITIZES PREMIUMIZATION, FOOTPRINT EXPANSION AND DIGITAL COMMERCE ● ● Win the affluent and upper middle class with a premium proposition. Leverage the best of the global brand while scaling tops via the local product engine Double-down on digital capabilities to drive DTC integration and omni revenue growth Elevate and expand the franchise footprint, penetrating higher-income Tier 3 and 4 cities for accessibility and to win market share. LEVI STRAUSS & CO. K Levi's LEVI'S LEVI'S MADE & CRAFTED d THE WORLD GAME Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 63#64WE CONTINUE TO PURSUE STRATEGIC DTC M&A OPPORTUNITIES, AND HAVE BEEN VERY SUCCESSFUL WHEN WE STRIKE 2013 2020 2021 2022 LEVI STRAUSS & CO. UK Chile, Peru, Bolivia Romania Thailand Countries shown clockwise from top left ELEENT TELINE THE LEVI'S TAILOR SHOP BRIGHTON Mace OTETTLE RECUENT STARTED BY US. FINISHED BY YOU. .... STRAIG FITTING ROOMS LEVI'S CUSTOMISE LETS BRING YOUR USION TO LIFE ALTER WELL MAKE RIEJUST RIGH ©2022 Levi Strauss & Co. CONFIDENTIAL LEVI'S BONGKIT 64#65OUR DTC ECOSYSTEM CONTINUES TO SCALE, WITH OUR COMPANY- OPERATED FLEET GENERATING A STRONG RETURN, AND OUR ECOMMERCE INCREASINGLY DRIVING GROWTH LEVI STRAUSS & CO. LEVI'S® BRANDS DTC Total net revenue ($B) $2.4B $2.0B 2019 2022E LEVI'S® BRANDS ECOMMERCE Total net revenue ($B) $0.5B $0.3B 2019 2022E DTC excludes franchise and includes shop-in-shop/commissionaire 17% 3-year ROIC for Levi's® Brands fleet, 2019-2021 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 65#66LEVI STRAUSS & CO. 上海特产 书画装裱配框中心 TAP p DISRUPTION Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 66#67Bauer LEVI STRAUSS & CO. LLOYD 10 U Ree WHI BAUGR ARRIORS HOCKEY 13 AGILITY Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 67#68WE SUCCESSFULLY LAUNCHED OUR "NEXT GEN" CONCEPT TO ELEVATE THE BRAND IN KEY DOORS AROUND THE WORLD TAPER LEVI STRAUSS & CO. Levi's MISTER LEVI'S TAILOR SHOP 60 DON'T $501 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 68#69WE USE OUR GLOBAL STORE FOOTPRINT TO CREATE BRAND HEAT AND ENGAGE CONSUMERS ADES TOP5 TUTEN WARENE LEVI'S JORDAN LEVI STRAUSS & CO. Levi's PRINT BAR U 501 LEVI'S® X JORDAN SO LD ES TATTOO TRUCKER 284 LEVI'S® FRESH PRIDE MARVEYNI Ty nOmIVES LOT NO.1 501 FITTING ROOMS CUSTOMISE LETS BE YOUR VON LIFE TAILOR SHOP ALTER Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 69#70WE HAVE MADE PROGRESS WITH OUR DIGITAL CAPABILITIES, BUILDING STRONG FOUNDATIONS TO SCALE IN THE FUTURE Service Exit Brandon IREDTAB 100% BRANDON D JORDON Member Since: July 1st, 2015 Birthday: May 2nd [email protected] RECOMMENDATIONS 501 Original t Women's Jeans are currenty shopping for Brandon J. Click here to Exit Overview History Purchase Behaviors 9:41 AM CUSTOMER PROFILE LEVI STRAUSS & CO. COUPONS & PERKS FREE Free Hemming for at led The Members HEMMING Pnt coupon at Talor Shop. Flestrictions appry 510 OFF $100 HBMG 2 for the month of November, al fled Tab Members receive $10 when spending $100. Apps only fut-priced Apply in 501 Original Stretch Women's J OMNI-CHANNEL EXPERIENCE 501 Original Cropped See all 501 Original Fit Sestoh Women's Je -644.50 04.10 < Free shipping for Levi's® 247 members. Details LOXIS Levi's 501 > THE NUMBER THAT CHANGED EVERYTHING ECOMMERCE Levi's ReD TAB TM MEMBER PROGRAM LOYALTYS EXPANSION Lavign DIGITAL UNIVERSE Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 70#71STATED BY US FINNEDBY YO LEVI STRAUSS & CO. THE LEVI'S TAILOR SHOP PRECIADOS LOVYS MA WE HAVE A LOT TO OFFER PO WHY THE BEST YEARS ARE STILL AHEAD Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 71#72WE ESTIMATE $500M OF INCREMENTAL NET REVENUES FROM DTC STORES EXPANSION BY 2027E LEVI STRAUSS & CO. PROJECTED DTC B&M FOOTPRINT EXPANSION - INCREMENTAL NET REVENUE BY 2027E $2.0B 2022E $0.5B INCREMENTAL REVENUE The 2027E numbers reflect the 2022E baseline and the incremental net revenue from footprint expansion only $2.5B 2027E ©2022 Levi Strauss & Co. CONFIDENTIAL 72#73AND WE HAVE MULTIPLE WAYS TO MAKE OUR EXISTING FLEET MORE PRODUCTIVE, ALREADY TESTING AND PREPARING TO SCALE Better locations LEVI STRAUSS & CO. Improved store service and operations Elevated shopping experience linked with loyalty et Al-driven pricing and promotions Assortment productivity Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 73#74WE ARE TESTING AND LEVERAGING AI TO INCREASE PRODUCTIVITY = < Levis See What's New At Our Stores Details WE THINK YOU'LL LOVE THESE TOO PERSONALIZATION AND LOYALTY LEVI STRAUSS & CO. 0 1th ECOMMERCE FULFILLMENT LEVI STRAUSS & CO. Levi's New Arrivals / Men's New Arrivals NEW ARRIVALS Levi's® Fresh PRICING AND PROMOTION.00 Euclid Anorak Jacket LEVI'S STORE LOCATION SELECTION Chest SIZE CHEST LENGTH M SLIM L XL 38" 40" 42" 46" 27" DEMAND PREDICTIO NO" AND SIZING 3XL 100% Cotton T-Shirt STABER 28" 29" 31" STORE ASSORTMENT OPTIMIZATION Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 74#75ASSORTMENT PRODUCTIVITY WILL ALSO UNLOCK CATEGORY GROWTH IN WOMEN'S, TOPS, EVEN FOOTWEAR AND ACCESSORIES LEVI STRAUSS & CO. Consumer- first, including location, and adjacencies Assort with impact to unlock category and capitalize on winners 늄 #1 Tops "startup" mindset WHAT WHO HOW $3 Denim leadership D₁ Build lifestyle and classification Grow women's Win with youth ©2022 Levi Strauss & Co. CONFIDENTIAL 75#76LEVI.COM EVOLVES AS THE DIGITAL FLAGSHIP FOR OUR BRAND ● Brand content will drive experience with our heritage, values, and products The digital product assortment will be differentiated and elevated to reflect Levi.com as our flagship Changes to our consumer journey will make it easier and more enjoyable to engage and purchase LEVI STRAUSS & CO. SHOP DISCOVER < Levi's App. The best of Levi's", tailored just for you. Details Levi's 1501 THE NUMBER THAT CHANGED EVERYTHING Shop 501® Styles > Celebrate the birth of a true original. 501 Day kicks off a month of parties, collabs and promotions around the world in honor of the 149 years our 501® Jeans have spent changing the game of fashion. Shop Men Shop Women 0 Hello, null null Find a Store What are you looking for? 9 United Kingdom ©2022 Levi Strauss & Co. CONFIDENTIAL 76#77LOYALTY EXPANSION CONTINUES, CULTIVATING A COMMUNITY OF OUR MOST VALUABLE CONSUMERS ● ● ● ● Approximately 19M members, with Europe and US doubling membership every year, to-date Scaling markets of US and Europe first Proprietary Al built for the US now going live in Europe Promising results LEVI STRAUSS & CO. Levi's ReD TAB MEMBER PROGRAM WELL HELLO THERE EXPLORE THE PROGRAM D Discover TM Shop 8 Account THE BENEFITS OF MEMBERSHIP The best of Levi's®, tailored exclusively for you-like free oping and returns on every order, usive product drops, limited- on collabs, special birthday rises and more. And like your s, the benefits just keep getting er with time. evi's EARLY ACCESS PARETER Y ACCESS TO PRODUCT PS to be the first to know about arrivals, exclusive collabs and d editions? RED TAB ™M bers get in early to see and before anyone else. VIPs, right ay... BIRTHDAY SURPRISES & EXCLUSIVE PROMOS convenient because friends don't let friends pay for shipping. TAILOR SHOP SERVICES Turn your jeans into a work of art with member-only discounts on custom embroidery, direct-to- garment printing and get up to two free alterations a year. So let our master tailors work their magic. CURATED VIP EVENTS Experience it all-online concerts, member shopping hours, DIY workshops and more. We're cooking up awesome ideas all the time and you'll be the first to know when they happen. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 77#78WE CONTINUALLY TEST AND SCALE CUTTING-EDGE TECHNOLOGY CO SCAN HAILEY BIEBER LEVI STRAUSS & CO. BUY THE PRODUCT 15:06 1 1/4 501® 90'S JEANS ✰✰✰✰✰ (35) Discover 501® 90'S JEANS EQ Shop ADD TO BAG Favourites 247 Member 8 Account ©2022 Levi Strauss & Co. CONFIDENTIAL 78#79LEVI STRAUSS & CO. LLEVI'S LEVIS VI'S & Levis R Levi's Levi's Levi's Levi's TAL O SOND TEAM Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 79#80LEVI STRAUSS & CO. A517 ESTH BUY BETTER? WEAR LONGER. VALUES Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 80#81WE HAVE CLEAR PRIORITIES FUELED BY TALENT, THE LEVI'S® BRAND, DATA, ANALYTICS AND DIGITIZATION LEVI STRAUSS & CO. Continue to expand and elevate our footprint globally Increase the productivity of our fleet Accelerate e-commerce with Levi.com as our flagship experience Engage and grow with our loyal fans LEVI'S® BRANDS DTC NET REVENUE (INCREMENTAL BY 2027E) 2022E Footprint expansion Productivity, service, and loyalty Ecommerce acceleration 2027E $2.4B $0.5B $1.0B $0.8B $4.7B ©2022 Levi Strauss & Co. CONFIDENTIAL 81#82LEVI STRAUSS & CO. INVESTOR DAY 2022 DOCKERS® BRAND UPDATE Santiago Cucci Chief Executive Officer of Dockers® Brand CONFIDENTIAL POCI EST. 1986 ERS Ⓒ2022 Levi Strauss & Co.#83LEVI STRAUSS 3 Chief Executive Officer of Dockers® Brand SANTIAGO CUCCI Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 83#84DOCKERS® OF YESTERDAY Functional khakis for work 18 ola. Low gross margin Sold in US wholesale 5% of team's attention LEVI STRAUSS & CO. 20 DOCKER MS Simo Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 84#85DOCKERS® OF TODAY Ka gło ola. New dedicated organization Refreshed brand expression LEVI STRAUSS & CO. Growing DTC and international presence Diversifying across categories Increasing gross margin, EBIT positive Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 85#86DOCKERS® OF TOMORROW Driving brand expression to win with younger consumers Leading Leading with DTC Expanding internationally Diversifying with California Casual Lifestyle LEVI STRAUSS & CO. VA 2022E Mid-teens annual net revenue growth through 2027E 2027E GROSS MARGIN 46% DOCKERS. EST. 19881 50%+ ©2022 Levi Strauss & Co. CONFIDENTIAL 86#87NEW BRAND AMBASSADORS AND BUZZ-DRIVING COLLABS Brand Ambassadors Matthias Dandois 9 times BMX Flatland World Champion Recent Collabs DOCKERS Malbon Malbon Golf LEVI STRAUSS & CO. DOC w dine We Love Guy SECOND WE S ON THE WATER WE LOVE THE M AND THE TIDE THE SMALLER ON F ocean. That's Abby TAKE CARE OF WATE WHILE ENJOYING IT D WHAT WE LOVE DEL THE WAY. We do Ra FROM CONSERVING MARNE LEV PICKING UP LTTERN Maud le Car and Joan Duru Professional Surfers + Founder, le Mermaid (Maud) Transnomadica W4W Jon Rose & Waves For Water Former Professional Surfer / Founder, Waves For Water Dockers® Vintage ©2022 Levi Strauss & Co. CONFIDENTIAL 87#88L+ HER FROK PEOPLE AND PLANET- FRIENDLY VALUES LEVI STRAUSS & CO. Supporting our communities 11 Water Projects in 2021 2022 impacting 200K+ People Creating sustainable products KERS WATER LESS RECYCLED COTTON c FIBERS HKMP COCKERS 94% Bottoms Water Less ©2022 Levi Strauss & Co. CONFIDENTIAL 88#89RAPIDLY EXPANDING RETAIL WITH NEW CONCEPT -155 DTC locations. including ~60 company operated retail stores 9% LEVI STRAUSS & CO. of net revenue in 2017 N ฟ Net revenue +-30% 2022E vs. 2021 20% of net revenue in 2022E lolo. Fleet gross margin -70%, EBIT margin 20-25% 2022E 25% planned in 2027E Before After 017 SMART LEX KAUS READY FOR ANYTHING Ⓒ EMAST 360 FLEX SKOOOO Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 89#90ENHANCED DIGITAL EXPERIENCE ON DOCKERS.COM US, Europe (10 countries), Mexico, Chile 4% LEVI STRAUSS & CO. of net revenue in 2017 سرا Net revenue +-30% 2022E vs. 2021 7% of net revenue in 2022E Before 15% Extra 50% Off Sale Styles Get it before it's gone with code: LASTCALL After planned in 2027E Men DOCKERS Women SHOP SALE BOTTOMS Big & Tall Vintage End of Season Sale CA SHOP SALE TOPS SHOP WOMEN'S SALE Extra 50% Off Sale SHOP ALL SALE < Attention // Orders Placed Before September 14th Please Read This THE LIVINGS EASY Q 8 Learni Stores Sign Up DOCKERS. EST. 19881 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 90#91L+ HER FROK STRONG INTERNATIONAL BUSINESS WITH SIGNIFICANT FUTURE GROWTH POTENTIAL LEVI STRAUSS & CO. US / Canada 57% of net revenue 2022E Latin America • 21% of net revenue 2022E • Brazil, Argentina potential International: 34% (ex. US) of net revenue in 2017 47% Europe ● 18% of net revenue 2022E UK, Germany potential Asia Pacific / Middle East • 4% of net revenue 2022E India, Middle East, Japan potential of net revenue in 2022E 55% planned in 2027E ©2022 Levi Strauss & Co. CONFIDENTIAL 91#92SEEING SUCCESS DIVERSIFYING IN TOPS AND WITH WOMEN Latin America tops at 40% of net revenue Women's El Corte Inglés at 30% of men's net revenue LEVI STRAUSS & CO. Europe tops at 20% of net revenue Women at >35% of US Dockers.com shoppers Tops 16% 25% of net revenue in 2022E Women planned in 2027E 4% 20% of net revenue in 2022E planned in 2027E Tops 30% Women Dockers Origier te d Le Pleated Original Kh NUEVA COLECCIÓN DE MUJER Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 92#93WHY YOU SHOULD BELIEVE 1. Strong, dedicated Dockers Ⓡ team who delivered on Levi's LEVI STRAUSS & CO. 2. -30% annual net revenue growth in both FY21 and FY22E 3. Improving gross margins 4. Large addressable casualwear market of >$500B 5. Proof points that Dockers® strategies are working 02022 Strauss & Co. CONFIDENTIAL 93#94LEVI STRAUSS & CO. INVESTOR DAY - 2022 BEYOND YOGAⓇ Michelle Wahler Chief Executive Officer & Co-Founder, Beyond YogaⓇ CONFIDENTIAL@ BEYOND YOGA Ⓒ2022 Levi Strauss & Co.#95LEVI STRAUSS & CO. Chief Executive Officer & Co-Founder, Beyond YogaⓇ MICHELLE WAHLER Ⓒ2022 Levi Strauss & Co. CONFIDENTIALI 95#96INTRODUCING BEYOND YOGAⓇ LEVI STRAUSS & CO. 16+ years Female founded / led Body positive Size inclusive (XXS-4X) "Beyond" yoga: active & lounge Soft, round-the-clock comfort AMBAS CHUM Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 96#97LEVI STRAUSS & CO. COMMITMENT TO AUTHENTICITY Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 97#98"Best leggings ever." "I live in these. All colors and styles of Spacedye are amazing!" - Natalie Verified Review, Beyond Yoga.com LEVI STRAUSS & CO. 6604 11330215 CLOW 1996 550 t Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 98#99OUR CUSTOMER Age: 25-44 High HHI (>$200K) Urban living -70% wear active & leisure Environmentally conscious. LEVI STRAUSS & CO. ACTIVE ACTIVE-SPORT MATERNITY MEN'S FASHION LOUNGE ©2022 Levi Strauss & Co. CONFIDENTIAL 99#100OUR SUSTAINABILITY MADE IN U. S. A. bluesign® Responsible manufacturing Recycle / Repreve® BlueSign T Waterless printing TencelTM / Lenzing LEVI STRAUSS & CO. ©2022 Levi Straus 100#101BEYOND YOGAⓇ BUSINESS SNAPSHOT LEVI STRAUSS & CO. DISCIPLINED ORGANIC GROWTH >30% Net revenue CAGR¹ >$100M FY22E Net revenue >60% Gross margin CHANNEL % OF NET REVENUE² 20% Wholesale Digital 30% Wholesale B&M 70% DIGITAL 50% DTC - BeyondYoga.com 1. FY18-FY21 2. FY22E Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 101#102BEYOND YOGA® PLAYS IN THE LARGE ACTIVEWEAR MARKET WITH EXPONENTIAL ROOM FOR GROWTH $240B LEVI STRAUSS & CO. +10% WORLDWIDE TOTAL ADDRESSABLE MARKET¹ $110B +12% US TOTAL ADDRESSABLE MARKET¹ 1. Euromonitor 2022 2. Euromonitor 2021 55% 10% Children's Men's 18 35% Women's US MARKET BREAKDOWN ² Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 102#1034 LEVERS FOR GROWTH 1 INVESTING IN OUR TEAM LEVI STRAUSS & CO. 1534 2 GROW BRAND AWARENESS 3 CATEGORY GROWTH (including men's) 4 [ CHANNEL & GEOGRAPHIC EXPANSION Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 103#1041 INVESTING FOR SCALE & CAPABILITIES New team members Hired leaders in brick-and-mortar and e-commerce LEVI STRAUSS & CO. 30 www 192 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 104#1052 GROW BRAND AWARENESS LEVI STRAUSS & CO. Social Influencers PR Partnerships Events Activations Pop-Ups Wholesale market UGO UGN Tech Live stream Connected TV Performance marketing Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 105#1063 CATEGORY GROWTH & INNOVATION 500 SKUS per season Monthly drops LEVI STRAUSS & CO. CRA MISSAM Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 106#1073 CATEGORY EXPANSION MATERNITY AND POST-BIRTH LEVI STRAUSS & CO. 6 Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 107#1083 CATEGORY EXPANSION DRESSES 17 LEVI STRAUSS & CO. ACTIVE LONG MATERNITY SHORT Californy 8SWB3 FASHION PRINT Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 108#1093 CATEGORY EXPANSION MEN'S Organic demand Fall '22 expanding to key retailers LEVI STRAUSS & CO. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 109#1104 CHANNEL GROWTH Wholesale Direct-to-consumer Beyond Yoga.com and brick-and-mortar International LEVI STRAUSS & CO. Bronco Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 110#1114 CHANNEL GROWTH WHOLESALE New accounts Larger footprint Door expansion LEVI STRAUSS & CO. >2,000 doors across the US OUR WHOLESALE CHANNELS Studio franchise and gym Outdoor retailers Premium department stores Subscription business REI coop ● NORDSTROM ● KEY RETAILERS Specialty retailers High-end spas REVOLVE EQUINOX FOUR SEASONS pure barre STITCH FIX Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 111#112CHANNEL GROWTH DIRECT-TO- CONSUMER DEEPER INTO BEYONDYOGA.COM new sOFTMA Summer's Dreamiest Print NECHALELE JUST LANDED LEVI STRAUSS & CO. the perfect compression ant from a pant." HE BEYOND YOGAS Bestsellers "Beyond Yoga's Spacedye fabric is some of the soffest I've ever tried." WHO WHAT WEAR Maternity Sal Our Story "These are the softest leggings that you will want to live in every single day." falfifim NEW CHAI IRIS MELT JUST LANDED. Summer's Dreamiest Print SHOP NEW SOFTMARK "You won't feel restricted by Beyond Yoga's clothing and that's crucial." POPSUGAR. The fabric is velvety soft and the stretch is so gentle that I barely even notice I have them on." FASTOMPANY CORE CUSTOMERS PURCHASE 3X in 12 months BEYOND YOGA PREMIUM BRICK-AND-MORTAR LOCATIONS Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 112#113KEY TAKEAWAYS 1. Amazing brand • Rich history Proven track record Incredible products Talented team ● ● ● LEVI STRAUSS & CO. 2. Large, growing market • $240B global market Double-digit TAM growth Strong share opportunity 3. Levers for growth Investing in our team Grow brand awareness Category growth ● • Channel & geographic expansion Ⓡ Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 113#114LEVI STRAUSS & CO THANK YOU ©2022 Levi Strauss & Co. CONFIDENTIAL | 114#115LEVI STRAUSS & CO. INVESTOR DAY 2022 100 SUPPLY CHAIN DIGITAL TRANSFORMATION AND ESG Liz O'Neill Executive Vice President & Chief Operations Officer CONFIDENTIAL R LOVIS Ⓒ2022 Levi Strauss & Co.#116C ees LEVI STRAUSS & CO. 4 na ARTECH Executive Vice President & Chief Operations Officer LIZ O'NEILL ©2022 Levi Strauss & Co. CONFIDENTIAL 116#117SUPPLY CHAIN NETWORK Manufacturing Network 28 Countries Strategic and diversified production. LEVI STRAUSS & CO. Mix of low cost and close to market Loss DC Network 35 Distribution Centers 12 Owned and operated (55% of capacity) 23 Third-party facilities плот Nevada ● Mississippi Mexico O&O DCS 3PL DCs 3PL Ecom DCs Canada (2) Kentucky (2) Georgia Peru. Chile Bolivia O UK (2) ● Brazil FY21 Stats 200M* Units processed 9,000 Customers serviced Germany (2) Italy Czech ● Russia Turkey Pakistan India (3) South Africa South Korea Hong Kong O Malaysia Singapore Japan Shanghai Taiwan Philippines Indonesia ● Australia ©2022 Levi Strauss & Co. CONFIDENTIAL 117#118OUR SUPPLY CHAIN IS A COMPETITIVE ADVANTAGE COMPARISONS 2021 VS. 2019 ADJ. GROSS MARGIN 410 bps INCREASE LEVI STRAUSS & CO. * SUPPLY-DEMAND MATCH 90% MATCH Us INVENTORY HEALTH 100 bps REDUCTION IN OBSOLETE INVENTORY* Reflects proportionate decrease of obsolete units held within our owned and operated distribution centers CHASE 42M UNITS ©2022 Levi Strauss & Co. CONFIDENTIAL 118#119PROTECTING OUR MARGIN AFTER OPTIMIZING COSTS OVER THE PAST 5+ YEARS, WE ARE PROTECTING OUR MARGIN VIA SCALE AND PRODUCTIVITY ASSORTMENT OPTIMIZATION Consumer-relevant commonality Depth and conviction of product investment Leverage scale within assortments LEVI STRAUSS & CO. FABRIC RATIONALIZATION LEURS Continuous fabric platform reductions Increases speed and agility to meet demand Drives cost leverage AI-ENABLED FORECASTING AI and Machine Learning enabled forecasting Predictions + Planners = greater accuracy Increased demand and supply matching Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 119#120STRATEGIC GROWTH PILLARS WE ARE BUILDING ON OUR FOUNDATION AND BUILDING CAPACITY TO DELIVER $10B CAPACITY Levi's BUILD FOR $10B NET REVENUE LEVI STRAUSS & CO. RESILIENCE WEATHER THE STORM AGILITY < Back Design Setup View All Wash Normal SHDOO SHD09 High SHD01 SHD02 SHD03 SHD06 SHD07 SHDOO SHD01 SHD02 SHD03 SHD06 SHD07 BETTER, STRONGER, Damages And New pand FASTER F se "zoom rotate Ⓒ Two F pan ©2022 Levi Strauss & Co. CONFIDENTIAL 120#121CAPACITY BUILDING FOR $10B ● ● ● ● U.S. and Europe expansion. (2023-2024) Growth of omni-channel capability Optimization of Asia distribution network Source base expansion LEVI STRAUSS & CO. Quadran4 11 adrant Levi's Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 121#122RESILIENCE WEATHER THE STORM ● ● ● Foundational investment Distribution efficiency End-to-end connected ecosystem LEVI STRAUSS & CO. Fa 40 2 Che Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 122#123AGILITY BETTER, STRONGER, FASTER ● ● ● ● Flexibility and responsiveness Digitized ways of working Responsive logistics Predictive forecasting LEVI STRAUSS & CO. < Back Design Setup View All Wash Normal SHDOO SHD01 SHD02 SHD03 SHD06 SHD07 SHD09 High SHDOO SHD01 SHD02 SHD03 SHD06 SHD09 Save Shade Intensity Damages Add New Damage 1/1 D722 Duplicate Damage Light Women's FA168055 Add Damage To Design Regular SHD07 <pand ABANKALE NEW B L8 F : se y: zoom : rotate ©2022 Levi Strauss & Co. CONFIDENTIAL 123 Two F +: pan#124THE DIGITAL IMPERATIVE FUTURE-PROOFING OUR PRODUCT OPERATING MODEL LEVI STRAUSS & CO. THE NEED FOR DIGITIZATION Product-to-market flexibility Faster speed to market Data fuels growth ● Net Revenue $ THE VALUE OF DIGITIZATION LA ● SG&A ● More black swan events Supports sustainability strategies Margin Fill Rate $ Liability Carrying Costs C Inventory Accuracy Excess and Obsolete ©2022 Levi Strauss & Co. CONFIDENTIAL 124#125PHYSICAL-TO-DIGITAL DIGITAL RED THREAD SUPPORTS SUSTAINABILITY LEVI STRAUSS & CO. 1 Robotics RFID Automation CAPACITY Less waste with fewer samples and reduced over-production 2 Product lifecycle management Supply planning Costing RESILIENCE Improved transparency Leverage traceability platforms with increased visibility to value chain 3 Digital design Global line assortment Predictive forecasting Logistics and transportation AGILITY Utilize data and blockchain Optimize social and environmental objectives, and measure impact over time Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 125#126JU CLIMATE J SSCHALTUS 41 SUSTAINABILITY LEVI STRAUSS & CO. ©2022 Levi Strauss & Co. CONFIDENTIAL 126#127SUSTAINABILITY AT LEVI STRAUSS & CO. 13 CLIMATE Science-based targets and plans to meet 2025 Water Action Strategy Supplier financing programs LEVI STRAUSS & CO. CONSUMPTION Buy Better, Wear Longer Second Hand, Tailor Shops Circular Levi's® 501sⓇ Fashion for Good and Ellen MacArthur Foundation Partnerships Mash COMMUNITY Employee support programs DE&I programs and ambitions Social issue advocacy Worker Well-being Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 127#128KEY TECTURE TAKEAWAYS LEVI STRAUSS & CO. AMA SAP (AMA Region) leaths Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 128#129KEY TAKEAWAYS pass #1 P Our supply chain is a competitive advantage Capacity, resilience, and agility are the strategic pillars to $10B in net revenue Protecting margin via scale and productivity Digital is the red thread to future-proof Sustainability is woven into everything we do LEVI STRAUSS & CO. CE DATA & ANALYTI MB [Econ endte Braze PO O Ingution Bach 8. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 129#130LEVI STRAUSS & CO. INVESTOR DAY - 2022 GROWTH ALGORITHM AND LONG-TERM TARGETS Harmit Singh Chief Financial Officer CONFIDENTIAL LEVI STRAUSS & CO. GENUINE QUALITY CLOTHING Lot 501 93 W331-323 Ⓒ2022 Levi Strauss & Co.#131LEVI STRAUSS & CO. Chief Financial Officer HARMIT SINGH ©2022 Levi Strauss & Co. CONFIDENTIAL 131#132POSITIONED TO WIN K Strong history of delivering on our commitments LEVI STRAUSS & CO. Bold, achievable growth algorithm LA $ Disciplined capital and resource allocators ثثث Ability to deliver in good and tough times Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 132#133OUR PREVIOUS GROWTH ALGORITHM Long-Term Earnings Algorithm 4-6% NET REVENUE GROWTH 1-2% LEVI STRAUSS & CO. Leverage on cost structure to deliver EBIT margin expansion of 20-30 bps MARGIN EXPANSION + Plus additional allocation opportunities to drive annual TSR beyond >10% 1 1-2% Tax / Interest Leverage TAX / INTEREST LEVERAGE Debt reduction + 2 1% Target payout ratio of 25-30% and dividend yield of 1-2% DIVIDENDS Share repurchase program 9-10% per year 3 TOTAL SHAREHOLDER RETURN Acquisitions ©2022 Levi Strauss & Co. CONFIDENTIAL 133#134WE ARE EMERGING STRONGER FROM THE PANDEMIC NET REVENUE ($B) +11-13% $5.76 2019 LEVI STRAUSS & CO. $6.451 2022E ADJ. GROSS MARGIN +430-440 bps 53.8% 2019 58.2% 1 2022E ADJ. EBIT MARGIN +200 bps 10.6% 2019 1. Mid-point of current guidance range. 12.6% 1 2022E ADJ. DILUTED EPS +34% $1.12 2019 $1.531 2022E ©2022 Levi Strauss & Co. CONFIDENTIAL 134#135OUR NEW GROWTH ALGORITHM: BOLD AND ACHIEVABLE FY22E to FY27E 6-8% NET REVENUE GROWTH Accelerating growth LEVI STRAUSS & CO. + >2% MARGIN EXPANSION 1% INTEREST LEVERAGE Accelerating profitability 1-2% DIVIDENDS & SHARE BUYBACKS Accelerating cash return + 10-12% TOTAL ORGANIC SHAREHOLDER RETURN + Organic TSR + ↑ M&A Potential M & A >10-12% per year TOTAL SHAREHOLDER RETURN Accelerating TSR ©2022 Levi Strauss & Co. CONFIDENTIAL 135#136STRENGTHS Casualization trend LEVI STRAUSS & CO. gło Diversified business model ÔÔÔ Gross margin accretive underpenetrated opportunities Strong balance sheet 1. Core inventory includes products that can be sold in multiple future seasons. Core, seasonless 1 inventory ¹ Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 136#137HEADWINDS Secular wholesale shift Supply chain challenges Inflationary cost pressures Geopolitical uncertainty Lingering effects of COVID-19 LEVI STRAUSS & CO. ➤ > OFFSETS ago Healthy wholesale, growing DTC Flexible sourcing model Strong brands with pricing power Geographic diversification ÔÔÔ Underpenetrated growth vectors Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 137#138OUTLOOK FOR ANOTHER STRONG YEAR LEVI STRAUSS & CO. CAL NET REVENUE GROWTH +11-13% $5,764 2021 $6,450 2022E ADJ. DILUTED EPS +2-6% $1.47 2021 $1.53 2022E *2022E figures are the mid-points of current guidance. Excluding the expected higher tax rate, our FY22E EPS outlook equates to year-over-year growth of +16-20%. ©2022 Levi Strauss & Co. CONFIDENTIAL 138#139ACCELERATING LS8CO. FY22E to FY27E FY27E ANNUALLY LEVI STRAUSS & CO. $9-10B NET REVENUE 8 1-2% SHAREHOLDER CASH RETURN € 5 ~15% ADJ. EBIT MARGIN $ >23% ROIC TARGET $ $2.70 ADJ. DILUTED EPS +10-12% TSR TARGET ©2022 Levi Strauss & Co. CONFIDENTIAL 139#140CLEAR PATH TO ACCELERATE VALUE CREATION FY22E to FY27E Growth algorithm 6-8% NET REVENUE GROWTH Accelerating growth LEVI STRAUSS & CO. >2% MARGIN EXPANSION 1% INTEREST LEVERAGE Accelerating profitability 1-2% DIVIDENDS & SHARE BUYBACKS Accelerating cash return 10-12% TOTAL ORGANIC SHAREHOLDER RETURN Accelerating TSR ©2022 Levi Strauss & Co. CONFIDENTIAL 140#141ACCELERATING GROWTH 1 FRANCS IGINAL QUALITY CLOTHING XX LEVI LEVI STRAUSS & CO. AUSS & CO. SCO, CAL TRADE din Pon PATENTLY Gare Instruc BRAND LED DHISZY de Farners 0793/TRAYSONG EVI M 437 2 TED #kat DTC FIRST Watcore Vo ATE POR CORE MAI Don't just talk about it. Vote about it. TAPER 7518 ASSENGER DADING ONLY 3 DIVERSIFY THE PORTFOLIO Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 141#142ACCELERATING GROWTH Prior plan +4-6% New plan +6-8% Five-year net revenue CAGR LEVI STRAUSS & CO. LEVI'S® BRANDS Americas Europe Asia Other Brands PRIOR PLAN* LS&Co. LSD HSD DOCKERS®& BEYOND YOGAⓇ HSD LSD +4-6% FY15-FY19 +3% +15% +6% (6%) +6.4% FY22E-FY27E PLAN MSD HSD HSD-LDD Mid-to-High Teens +6-8% *Prior Plan regional segments incorporated expectations across all brands, including Dockers®, which had a plan to grow low-single-digits. We revised our segments in 2021, and the geographic regions now only include results across Levi's® Brands while Dockers® is now included in the segment "Other Brands" along with Beyond Yoga Ⓡ. The New Plan compared against the Prior Plan and not the FY15 to FY19 CAGRs. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 142#143ACCELERATING GROWTH Prior plan +4-6% New plan +6-8% Five-year net revenue CAGR LEVI STRAUSS & CO. CHANNELS DTC Wholesale CATEGORIES Tops Women's PRIOR PLAN LDD LSD HSD-LDD HSD-LDD FY15-FY19 +12% +4% +26% +18% FY22E-FY27E PLAN Mid-Teens LSD LDD LDD ©2022 Levi Strauss & Co. CONFIDENTIAL 143#1441 BRAND LED AMPLIFY CORE BUSINESS LEVI STRAUSS & CO. DIVERSIFTY INTO LIFESTYLE DRIVE BRAND HEAT ©2022 Levi Strauss & Co. CONFIDENTIAL 144#145BRAND LED LEVI STRAUSS & CO. Levi's % of Total Net Revenue $4.0 SIGNATURE BY LEVI STRAUSS.CO. LEVI'S® BRANDS REVENUE ($B) 2015 90% & $2-2.5B (6 - 7% CAGR) $6.0 2022E 93% DENIZEN FROM Levi's 2027E 89% Note: 2022E represents the midpoint of our estimate for Levi's® Brands net revenue in USD billions. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 145#1462 DTC FIRST 55% OF NET REVENUE BY 2027 LEVI STRAUSS & CO. Levi's LOOSE ©2022 Levi Strauss & Co. CONFIDENTIAL 146#147DTC FIRST BRICK 501 -AND- MORTAR LEVI STRAUSS & CO. Ⓡ L 655 2015 DTC COMPANY-OPERATED STORES -1,150 2022E ~1,550 2027E NEW STORE POTENTIAL -400 BY 2027 NET STORES ANNUALLY 80 EXPECTED TO OPEN Note: 2022E and 2027E represent the expected net company-operated store openings for the portfolio of LS&Co. Brands. Company-operated stores are one type of DTC store. ©2022 Levi Strauss & Co. CONFIDENTIAL 147#148DTC FIRST $24.99 ECOMMERCE 3X ASK INDIGO KEY 0 levi.com silver ab $41.99 LEVI STRAUSS & CO. TAKEAWAYS New Season. New Arrivals. GEAR UP FOR FALL 4 75% STRAUSS CALIFORNIA 177 680 Net revenue to triple ADJ. EBIT margin: MSDs to LDDs % of Total Net Revenue COMPANY-OPERATED ECOMMERCE % OF TOTAL COMPANY NET REVENUE IN $B $0.1 2015 3% +$1.0B (~25% CAGR) $0.5 2022E 8% $1.5 2027E ~15% Note: 2022E and 2027E represent estimates for total company company-operated e-commerce net revenue in USD billions. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 148#1493 DIVERSIFYING THE PORTFOLIO WOMEN'S LEVI STRAUSS & CO. LEVO REY BIG SUR MONTEREY COUNTY TOPS A Levis Fo LEVES INTERNATIONAL Welln 1006 OTHER BRANDS ©2022 Levi Strauss & Co. CONFIDENTIAL 149#150ACCELERATING GROWTH FROM HIGH GROSS MARGIN BUSINESSES Women's Tops International Other Brands LEVI STRAUSS & CO. FY22 E % OF NET REVENUE 33% 21% 53% 7% O O Ç Ç FY27E % OF NET REVENUE 42% 25% 57% 11% ● O • FY22E-FY27E CAGR LDD LDD HSD-LDD Mid-to-High Teens Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 150#151DIVERSIFYING THE PORTFOLIO WOMEN'S 2X LEVI STRAUSS & CO. TOTAL COMPANY WOMEN'S NET REVENUE ($B) % of Total Net Revenue $0.9 2015 21% 11-13% CAGR $2.2 2022E 33% 2027E -42% Note: 2022E represents the midpoint of our estimate for Levi's® Brand net revenue in USD billions. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 151#152DIVERSIFYING THE PORTFOLIO TOPS LEVI STRAUSS & CO. LEVI 2X % of Total Net Revenue TOTAL COMPANY TOPS NET REVENUE ($B) $0.5 2015 11% 11-13% CAGR $1.3 2022E 21% 2027E -25% Note: 2022E represents the midpoint of our estimate for Levi's® Brand net revenue in USD billions. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 152#153TOTAL COMPANY INTERNATIONAL NET REVENUE ($B) DIVERSIFYING THE PORTFOLIO INTERNATIONAL LEVI STRAUSS & CO. % of Total Net Revenue $2.1 2015 47% 8-10% CAGR $3.5 2022E 53% 2027E ~57% Note: 2022E represents the midpoint of our estimate for LS&Co. international net revenue in USD billions. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 153#154DIVERSIFYING THE PORTFOLIO OTHER BRANDS 2X BEYOND YOGA LEVI STRAUSS & CO. DOCK ERS % of Total net revenue OTHER BRANDS NET REVENUE ($B) $0.5 2015 10% 15-17% CAGR $0.5 2022E 7% 2027E -11% Note: 2022E represents the midpoint of our estimate for LS&Co.'s Other Brands net revenue in USD billions. Dockers net revenues troughed in 2021 and are expected to growth through 2027, in addition to Beyond YogaⓇ. Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 154#155ACCELERATING PROFITABILITY FY22E to FY27E Growth Algorithm LEVI STRAUSS & CO. 6-8% NET REVENUE GROWTH Accelerating growth >2% Flat to 10 bps Leverage SG&A +30 to 40 bps Gross margin expansion MARGIN EXPANSION Accelerating profitability 1% INTEREST LEVERAGE 1% -2% DIVIDENDS & SHARE BUYBACKS Accelerating cash return ©2022 Levi Strauss & Co. CONFIDENTIAL 155#156IMPROVING ON OUR STRONG MARGIN PROFILE GROSS MARGIN DRIVERS FY22E ADJ. Gross Margin: 58.2% to 60% in FY27 Geographic mix Channel mix Category mix (women / tops) Sourcing, pricing, AUR offset inflation, higher promotional environment Other Brands LEVI STRAUSS & CO. EBIT MARGIN DRIVERS FY22E ADJ. EBIT Margin: 12.6% to 15% in FY27 Gross Margin Improvement SG&A leverage: A&P Investment DTC expansion Other selling expenses General overhead *2022E figures are the mid-points of current guidance. ↑ Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 156#157ACCELERATING SHAREHOLDER CASH RETURNS FY22E to FY27E Growth Algorithm LEVI STRAUSS & CO. 6-8% NET REVENUE GROWTH Accelerating growth >2% MARGIN EXPANSION Accelerating profitability New $750M Repurchase authorization 1% INTEREST LEVERAGE 1-2% 25-35% Dividend payout ratio DIVIDENDS & SHARE BUYBACKS Accelerating cash return ©2022 Levi Strauss & Co. CONFIDENTIAL 157#158OUR CAPITAL ALLOCATION PRIORITIES REINVEST FOR GROWTH 1 Capex (3.5-4% of net revenue) Strategic investments: DTC expansion (new stores and DCs) E-commerce ● ● Digital transformation (Al and ERP) LEVI STRAUSS & CO. RETURN CAPITAL TO SHAREHOLDERS 2 4 Dividends Maintain a dividend payout ratio of 25-35%, with dividends growing in line with Net Income Share repurchases Repurchase shares with the goal of offsetting dilution and/or opportunistic buybacks Aim to return ~55-65% of our free cash flow in the form of dividends and share repurchases M&A 3 Acquisitions Evaluate high ROI organic and inorganic acquisitions that support our current strategies We will continue to have a disciplined capital allocation strategy which prioritizes high ROI growth driven investments, while returning excess cash to shareholders ©2022 Levi Strauss & Co. CONFIDENTIAL 158#159OUR NEW GROWTH ALGORITHM: BOLD AND ACHIEVABLE FY22E to FY27E 6-8% NET REVENUE GROWTH Accelerating growth LEVI STRAUSS & CO. + >2% MARGIN EXPANSION 1% INTEREST LEVERAGE Accelerating profitability 1-2% DIVIDENDS & SHARE BUYBACKS Accelerating cash return + 10-12% TOTAL ORGANIC SHAREHOLDER RETURN + Organic TSR + ↑ Tops Women's Outerwear Footwear M & A Potential M & A >10-12% per year TOTAL SHAREHOLDER RETURN Accelerating TSR ©2022 Levi Strauss & Co. CONFIDENTIAL 159#160KEY TAKEAWAYS S LEVI STRAUSS & CO. Clear strategies with the right team to deliver Diverse brand portfolio with the ability to expand Plan that balances generating more net revenue, profit and cash with creating stakeholder value Cash generating machine with disciplined investments in high-ROIC priorities 12702 AVALDA Ke SOCK Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL 160#161( Levi's LEVI STRAUSS & CO. Levi's APPENDIX: GAAP TO NON-GAAP RECONCILIATION Ⓒ2022 Levi Strauss & Co. CONFIDENTIAL | 161#162ADJUSTED GROSS PROFIT We define adjusted gross profit, as gross profit excluding COVID-19 and acquisition related inventory costs. We define adjusted gross margin, as adjusted gross profit as a percentage of net revenues (Dollars in millions) MOST COMPARABLE GAAP MEASURE Gross profit LEVI STRAUSS & CO. NON-GAAP MEASURE Gross profit COVID-19 related inventory costs (¹) Acquisition related charges (²) ADJUSTED GROSS PROFIT Adjusted gross margin 2021 $3,346.7 $3,346.7 (15.1) 3.9 $3,335.5 57.9% 2020 $2,352.9 $2,352.9 69.3 $2,422.2 54.4% 2019 $3,101.4 $3,101.4 $3,101.4 53.8% 2011 $2,292.2 $2,292.2 $2,292.2 48.1% 1. For the fiscal year ended November 28, 2021, the reductions in COVID-19 related inventory charges is primarily related to reductions in our estimate of adverse fabric purchase commitments, initially recorded in the second quarter of 2020. For the fiscal year ended November 29, 2020, COVID-19 related inventory costs include $42.3 million of incremental inventory reserves and the recognition of adverse fabric purchase commitments of $26.2 million. 2. Acquisition related charges include the inventory markup above historical carrying value associated with the Beyond Yoga acquisition. ©2022 Levi Strauss & Co. CONFIDENTIAL 162#163ADJUSTED EBIT AND ADJUSTED EBITDA We define Adjusted EBIT as net income (loss) excluding income tax expense (benefit), interest expense, other (income) expense, net, underwriter commission paid on behalf of selling stockholders, loss on early extinguishment of debt, impact of changes in fair value on cash-settled stock-based compensation, COVID-19 related inventory costs and other charges, acquisition and integration related charges, and restructuring and related charges, severance and other, net. We define Adjusted EBIT margin as Adjusted EBIT as a percentage of net revenues. We define Adjusted EBITDA as Adjusted EBIT excluding depreciation and amortization expense. LEVI STRAUSS & CO. (Dollars in millions) MOST COMPARABLE GAAP MEASURE Net income (loss) NON-GAAP MEASURE Net income (loss) Income tax expense (benefit) Interest expense Other (income) expense, net(¹) Underwriter commission paid on behalf of selling stockholders Loss on early extinguishment of debt Impact of changes in fair value on cash-settled stock-based compensation (²) COVID-19 related inventory costs and other charges (³) Acquisition and integration related charges (4) Restructuring and restructuring related charges, severance and other, net(5) ADJUSTED EBIT Depreciation and amortization (6) ADJUSTED EBITDA Adjusted EBIT margin 2021 $553.5 553.5 26.7 72.9 (3.4) 36.5 4.2 (9.7) 7.7 24.5 712.9 142.0 854.9 12.4% 2020 $(127.1) (127.1) (62.6) 82.2 22.4 7.1 159.6 99.5 181.1 136.6 317.7 4.1% 2019 $395.0 395.0 82.6 66.2 (2.0) 24.9 34.1 9.8 610.6 123.9 734.5 10.6% 2011 $135.1 135.1 67.7 132.0 1.3 0.3 | | 67.1 403.5 117.8 521.3 8.5% ©2022 Levi Strauss & Co. CONFIDENTIAL 163#164ADJUSTED EBIT AND ADJUSTED EBITDA (CONT.) (1) (2) (3) Includes $14.7 million in pension settlement losses related to the voluntary lump-sum, cash-out program offered to vested deferred US pension plan participants during the year ended November 29, 2020. See Note 10 to our audited consolidated financial statements included in this report for further information. Includes the impact of the changes in fair value of Class B common stock following the grant date on awards that were granted as cash-settled and subsequently replaced with stock-settled awards concurrent with the IPO. For the year ended November 28, 2021, the net reduction in COVID-19 related inventory costs and other charges recognized mainly represents reductions in COVID-19 related inventory charges, as a result of reductions in our estimate of adverse fabric purchase commitments and allowances related to customer receivables partially offset with impairment charges of certain retail store related assets. For the year ended November 29, 2020, COVID-19 related inventory costs and other charges primarily include $42.3 million of incremental inventory reserves, $26.2 million of adverse fabric purchase commitments, $44.3 million and $21.7 million in impairment of operating lease right-of-use assets and property and equipment related to certain retail locations and other corporate assets, respectively, and $17.7 million of charges related to customer receivables. The remainder relates to other incremental costs incurred in response to the global pandemic. LEVI STRAUSS & CO. (4) (5) (6) Acquisition and integration related charges includes the inventory markup above historical carrying value as well as SG&A expenses associated with the Beyond YogaⓇ acquisition. Other charges included in Restructuring and restructuring related charges, severance and other, net include charges related to an international customs audit and transaction and deal related costs. Depreciation and amortization amount net of amortization included in Restructuring and restructuring related charges, severance and other, net. ©2022 Levi Strauss & Co. CONFIDENTIAL 164#165NET DEBT AND LEVERAGE RATIO We define net debt, as total debt, excluding capital leases, less cash and cash equivalents. We define leverage ratio, as the ratio of total debt to the last 12 months Adjusted EBITDA. Our management believes that net debt and leverage ratio are important measures to monitor our financial flexibility and evaluate the strength of our balance sheet. Net debt and leverage ratio have limitations as analytical tools and may vary from similarly titled measures used by other companies. Net debt and leverage ratio should not be considered in isolation or as substitutes for an analysis of our results prepared and presented in accordance with GAAP. LEVI STRAUSS & CO. The following table presents a reconciliation of total debt, excluding capital leases, the most directly comparable financial measure calculated in accordance with GAAP, to net debt for each of the periods presented. (Dollars in millions) MOST COMPARABLE GAAP MEASURE Total debt, excluding capital leases NON-GAAP MEASURE Total debt, excluding capital leases Cash and cash equivalents Short-term investments in marketable securities NET DEBT 2021 (Dollars in millions) Total debt, excluding capital leases Last Twelve Months Adjusted EBITDA LEVERAGE RATIO $1,026.6 $1,026.6 (810.3) (91.5) $ 124.8 2021 $1,026.6 854.9 2020 1.2 $1,564.3 $1,564.3 (1,497.2) (96.5) $ (29.4) 2020 $1,564.3 The following table presents a reconciliation of total debt, excluding capital leases, the most directly comparable financial measure calculated in accordance with GAAP, to leverage ratio for each of the periods presented. 317.7 2019 4.9 $1,014.4 $1,014.4 (934.2) (80.7) $ (0.5) 2019 $ 1,014.4 734.5 2011 1.4 $1,972.4 $1,972.4 (204.5) $1,767.9 2011 $ 1,972.4 521.3 3.8 ©2022 Levi Strauss & Co. CONFIDENTIAL 165#166ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE We define Adjusted net income as net income (loss) excluding underwriter commission paid on behalf of selling stockholders, loss on early extinguishment of debt, charges related to the impact of changes in fair value on cash-settled stock-based compensation, COVID-19 related inventory costs and other charges, acquisition and integration related charges, and restructuring and restructuring related charges, severance and other, net, pension settlement losses, and re-measurement of our deferred tax assets and liabilities based on the lower rates as a result of the Tax Act, adjusted to give effect to the income tax impact of such adjustments. To calculate the income tax impact of such adjustments on a year-to-date basis, we utilize an effective tax rate equal to our income tax expense excluding material discrete costs and benefits, with any impacts of changes in effective tax rate being recognized in the current period. We define Adjusted net income margin as Adjusted net income as a percentage of net revenues. We define Adjusted diluted earnings per share as Adjusted net income per weighted- average number of diluted common shares outstanding. The following table presents a reconciliation of net income (loss), the most directly comparable financial measure calculated in accordance with GAAP, to Adjusted net income for each of the periods presented and the calculation of Adjusted diluted earnings per share for each of the periods presented. LEVI STRAUSS & CO. (Dollars in millions) MOST COMPARABLE GAAP MEASURE Net income (loss) NON-GAAP MEASURE Net income (loss) Underwriter commission paid on behalf of selling stockholders Loss on early extinguishment of debt Impact of changes in fair value on cash-settled stock-based compensation (¹) COVID-19 related inventory costs and other charges (2) Acquisition and integration related charges (³) Restructuring and restructuring related charges, severance and other, net(4) Pension settlement losses (5) Tax impact of adjustments (6) ADJUSTED NET INCOME Adjusted net income margin Adjusted diluted earnings per share 2021 $553.5 $553.5 36.5 4.2 (9.7) 7.7 24.5 (15.8) $600.9 10.4% $1.47 2020 $(127.1) $ (127.1) 7.1 159.6 99.5 14.7 (70.2) $83.6 1.9% $0.21 2019 $395.0 $395.0 24.9 34.1 9.8 (7.6) $456.2 7.9% $1.12 ©2022 Levi Strauss & Co. CONFIDENTIAL 166#167ADJUSTED NET INCOME AND ADJUSTED DILUTED EARNINGS PER SHARE (CONT.) (1) (2) Includes the impact of changes in fair value of Class B common stock following the grant date on awards that were granted as cash-settled and subsequently replaced with stock-settled awards concurrent with the IPO. For the twelve-month period ended November 28, 2021, the net reduction in COVID-19 related inventory costs and other charges recognized mainly represents reductions in COVID- 19 related inventory charges, as a result of reductions in our estimate of adverse fabric purchase commitments and allowances related to customer receivables partially offset with impairment charges of certain retail store related assets. For the year ended November 29, 2020, COVID-19 related inventory costs and other charges primarily include $42.3 million of incremental inventory reserves, $26.2 million of adverse fabric purchase commitments, $44.3 million and $21.7 million in impairment of operating lease right-of-use assets and property and equipment related to certain retail locations and other corporate assets, respectively, and $17.7 million of charges related to customer receivables. The remainder relates to other incremental costs incurred in response to the global pandemic. LEVI STRAUSS & CO. (3) (4) (5) (6) Acquisition and integration related charges includes the inventory markup above historical carrying value as well as SG&A expenses associated with the Beyond YogaⓇ acquisition. Other charges included in Restructuring and restructuring related charges, severance and other, net include charges related to an international customs audit and transaction and deal related costs. Pension settlement losses relate to the voluntary lump-sum, cash-out program offered to vested deferred US pension plan participants. Tax impact calculated using the annual effective tax rate, excluding discrete costs and benefits. ©2022 Levi Strauss & Co. CONFIDENTIAL 167#168RETURN ON INVESTED CAPITAL We define Return on invested capital ("ROIC") as the trailing four quarters of Adjusted net income before interest. and after taxes divided by the average trailing five quarters of total invested capital. We define earnings before interest and after taxes as Adjusted net income plus interest expense and income tax expense less an income tax adjustment. We define total invested capital as total debt plus shareholders' equity less cash and short-term investments. We believe ROIC is useful to investors as it quantifies how efficiently we generated operating income relative to the capital we have invested in the business. Our calculation of ROIC is considered a non-GAAP financial measure because we calculate ROIC using the non-GAAP metric Adjusted net income. Although ROIC is a standard financial metric, numerous methods exist for calculating a company's ROIC. As a result, the method we use to calculate our ROIC may differ from the methods used by other companies. This metric is not defined by GAAP and should not be considered as an alternative to earnings measures defined by GAAP. (1) Adjusted net income is reconciled from net income (loss) which is the most comparable GAAP measure. Refer to Adjusted net income table for more information. Acquisition related charges include the inventory markup above historical carrying value associated with the Beyond Yoga acquisition. (2) Tax impact calculated using the annual effective tax rate, excluding discrete costs and benefits. LEVI STRAUSS & CO. (Dollars in millions) Net income (loss) NUMERATOR Adjusted net income (1) Interest expense Income tax expense Adjusted net income before interest and taxes Income tax adjustment (2) ADJUSTED NET INCOME BEFORE INTEREST AND AFTER TAXES (Dollars in millions) Denominator Total debt, including lease liabilities Shareholders' equity Cash and Short-term investments TOTAL INVESTED CAPITAL Net income (loss) to Total invested capital Return on Invested Capital 2021 $153.0 600.9 72.9 26.7 700.5 (30.1) $670.4 TRAILING FOUR QUARTERS 2021 2020 $56.7 $2,585.6 1,483.2 (1,470.8) $2,598.0 5.9% 25.8% 83.6 82.2 (62.6) 103.2 (25.8) $77.4 2020 2019 AVERAGE TRAILING FIVE QUARTERS $2,464.2 1,299.5 (1,593.7) $2,170.0 2.6% 3.6% $395.0 456.2 66.2 82.6 605.0 (104.6) $500.4 2019 $2,107.6 1,142.9 (866.9) $2,383.6 16.6% 21.0% ©2022 Levi Strauss & Co. CONFIDENTIAL 168#169LEVI STRAUSS & CO. INVESTOR DAY - 2022 CONFIDENTIAL Ⓒ2022 Levi Strauss & Co.