#1로 LVMH First half 2022 results July 26, 2022 Louis Vuitton#2This 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. 2 | Disclaimer LVMH#3H1 2022: excellent first half for LVMH 3 REVENUE 36.7 bne bn€ + 21% vs. H1 2021* * Organic growth First half 2022 results PROFIT FROM RECURRING OPERATIONS 10.2 bn€ + 34% vs. H1 2021 OPERATING MARGIN 27.9% + 1.3 pt vs. H1 2021 OPERATING FREE CASH FLOW 4.0 b - 24% bn€ vs. H1 2021 GEARING 21.1% The financial statements as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. LVMH#4H1 2022: excellent first half for LVMH Double-digit revenue growth in Europe, Japan and the US Double-digit revenue growth in all business groups in a still disrupted environment High comparison basis 4 First half 2022 results Second quarter in line with start of year trends Exceptional momentum in champagne and cognac M 2022 VIN 敷 Vom incel Strong progress of Fashion & Leather Goods business group, especially for Louis Vuitton, Christian Dior, Fendi, Celine, Loro Piana and Loewe Excellent performance of Tiffany and Bulgari Strong momentum of fragrances Traur SEPHORA Foam AFFAL Strong recovery for Sephora DFS significantly impacted by health restrictions in China LVMH#5ㅊ TONYY 01 Business group review Louis Vuitton#6BUSINESS GROUP REVIEW Wines & Spirits 6 First half 2022 results KADR 2010 Dom Ruinart SLANE DE LANCE EXTRA WHIT 2010 Sawraca Dom Ruinart 2010 d Ruinart#7Wines & Spirits - Revenue up 23 % and profit from recurring operations up 25% Wines & Spirits - H1 2022 evolution of revenue and profit from recurring operations (in million of euros) Champagne & Wines Cognac & Spirits 2705 1576 1129 H1 2021 Revenue + 23% +14% organic First half 2022 results - Wines & Spirits 3 327 1823 1504 H1 2022 Operating margin Profit from recurring operations 924 605 319 H1 2021 34.2% + 25% 1154 707 447 H1 2022 34.7% LVMH#8Wines & Spirits - Excellent first half for Champagne brands; rebound of Hennessy in Q2 8 SHOR Dom Perignes Cha P2 THIS VOLUME CHAMPAGNE + 16 % Champagne & Wines Strong recovery in key markets vs H1 2021 - Strong demand in the US and Europe led by restaurants reopening and tourism recovery - Firm price increase policy Structure impact of Armand de Brignac, consolidated since May 2021 - - Continued international development of Château d'Esclans Successful launch of Château Galoupet Cru Classé and Galoupet Nomade - Agreement signed for the acquisition of Joseph Phelps Vineyards in Napa Valley, California | First half 2022 results - Wines & Spirits VOLUME HENNESSY - 2% vs H1 2021 Cognac & Spirits Rebound in Q2 linked to delivery catch-up - Hennessy performance impacted by health restrictions in China and logistical disruptions in the US, offset by positive price effect Roll-out of Hennessy x NBA partnership in all markets - - Strong momentum of Glenmorangie and Ardbeg; successful launch of Glenmorangie 18 ans Azuma Makoto and Ardbeg Fermutation - Excellent performance of Belvedere vodka LVMH#9BUSINESS GROUP REVIEW Fashion & Leather Goods 9 First half 2022 results LO www CHRIST SEGAMANA Christian Dior Couture#10Fashion & Leather Goods - Revenue up 31 % and profit from recurring operations up 33 % Fashion & Leather Goods - H1 2022 evolution of revenue and profit from recurring operations (in million of euros) 13 863 H1 2021 Revenue +31% +24% organic 18 136 H1 2022 10 First half 2022 results - Fashion & Leather Goods Operating margin Profit from recurring operations 5 660 H1 2021 40.8% + 33% 7509 H1 2022 41.4% LVMH#11Fashion & Leather Goods - Outstanding performance, especially for Louis Vuitton, Christian Dior, Fendi, Celine, Loro Piana and Loewe Louis Vuitton Excellent first half, still driven by strong creativity - Success of fashion shows created by Nicolas Ghesquière Final collection of Virgil Abloh presented in Paris and Bangkok, and exhibition in his honor at Louis Vuitton Foundation Inauguration in France of 2 new workshops, including one for precious leathers (Vendôme) - Qualitative expansion of store network - << 200 malles, 200 visionnaires » exhibition in Singapore Christian Dior Couture Outstanding growth in all product categories Unprecedented holistic experience in the historic 30 Montaigne store, reopened after 3 years of renovation Fendi 11 | First half 2022 results - Fashion & Leather Goods Celine - Inspiring fashion shows imagined by Maria Loro Piana Grazia Chiuri and Kim Jones Continued success of Lady Dior bag New jewelry collection La Rose Dior Loewe Marc Jacobs Kenzo Lonell SENTE X Success of iconic bags Peekaboo and Baguette; planned opening of 2 new workshops in Italy in H2 Strong progress of ready-to-wear created by Hedi Slimane; success of new high-end leather line for Triomphe and 16 models Honoring the excellence of vicuña wool and the Maison's approach to safeguarding the species Strong creativity of Jonathan Anderson reflected in latest fashion shows Sustained growth of online sales; new offering around the Monogram Excellent response to Nigo's first collection LVMH#12BUSINESS GROUP REVIEW Perfumes & Cosmetics 12 First half 2022 results Parfums Christian Dior#13Perfumes & Cosmetics - Revenue up 20 % and profit from recurring operations down 1% Perfumes & Cosmetics - H1 2022 evolution of revenue and profit from recurring operations (in million of euros) 3 025 H1 2021 Revenue + 20% +13% organic 3 618 H1 2022 13 First half 2022 results - Perfumes & Cosmetics Operating margin Profit from recurring operations 393 H1 2021 13.0% - 1% 388 H1 2022 10.7% LVMH#14Perfumes & Cosmetics - Excellent momentum in Perfumes, rebound in makeup, impact of health restrictions in China, intensification of selectivity in distribution and limiting promotions SAUVAGE Dioe Parfums Christian Dior Outstanding performance in all key markets Strong momentum in Europe and the US Continued success of perfumes Sauvage and Miss Dior - Sustained growth in makeup with Dior Addict and Forever foundation - Successful launch of face cleaner La Mousse Off/On - Maintained selectivity in distribution Strategy for 2030 of responsible beauty « To only leave beauty as a legacy >>> 14 First half 2022 results - Perfumes & Cosmetics Guerlain Parfums Givenchy ABEILLE ROYALE HUKBENGAL FUNER YOUTH Puertain LIM DOUNE E-RENEW & REPARE-SE Continued success of iconic skin care line Abeille Royale Good growth of perfumes, especially L'Art et la Matière and Aqua Allegoria collections L'INTERDIT GIVENCHY 1828 NFTs Cryptobees created to finance a permaculture garden in the Millière valley Confirmed success of L'Interdit; new Eau de Toilette Fraîche Irresistible Benefit Maison Francis Kurkdjian Make Up For Ever Officine Universelle Buly MAKE MAKE UP KE UP KE UP FOR E FOR EVER EVER EVER HARR HD HD ID SKIN SKI SKI PREKING KAY perne Rum ASUK Rebound of services with return of store traffic Creation of << Jardin du parfumeur » in collaboration with Château de Versailles Success of new undetectable foundation HD Skin Expansion of store network in Europe - Milan, Munich - and Japan LVMH#15BUSINESS GROUP REVIEW Watches & Jewelry 15 First half 2022 results Tiffany & Co.#16Watches & Jewelry - Revenue up 22 % and profit from recurring operations up 26% Watches & Jewelry - H1 2022 evolution of revenue and profit from recurring operations (in million of euros) 4 023 H1 2021 Revenue + 22% +16% organic 4909 16 First half 2022 results - Watches & Jewelry H1 2022 Operating margin Profit from recurring operations 783 H1 2021 19.5% + 26% 987 H1 2022 20.1% The financial statements as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. LVMH#17Watches & Jewelry - Recovery of sales in jewelry and watches Tiffany & Co. Excellent first half International roll-out of Knot collection Sales record for High Jewelry collection Blue Book New pop-up store avenue Montaigne in Paris << Vision & Virtuosity » exhibition in Saatchi Gallery in London, celebrating Tiffany's 185th anniversary 17 First half 2022 results - Watches & Jewelry Bulgari Good growth despite effects of health restrictions in China Success of High Jewelry and High Watches collection Eden: The Garden of Wonders, associated with newly created NFT's - New collection Bzerol, embellished with diamonds New record for ultra-thin watchmaking for Octo Finissimo Ultra - Excellent performance of watches Hublot TAG Heuer Zenith Chaumet PONDANCE Fred TEFFE New TAG Heuer Carrera Plasma, fusion of watchmaking and lab-grown diamonds Several new products and launch of 2 NFTs with Takashi Murakami New Master of Chronograph communication and CSR program « Zenith Horizon >> Collection of High Jewelry Déferlante; Végétal exhibition in Beaux-Arts of Paris New Force 10 bracelet with XL buckle LVMH#18BUSINESS GROUP REVIEW Selective Retailing 18 First half 2022 results O SEPHORA 7595550 Sephora#19Selective Retailing - Revenue up 30% and profit from recurring operations up 181% Selective Retailing - H1 2022 evolution of revenue and profit from recurring operations (in million of euros) 5 085 H1 2021 Revenue + 30% + 22% organic 19 First half 2022 results - Selective Retailing 6 630 H1 2022 Operating margin Profit from recurring operations 131 H1 2021 2.6% +181% 367 H1 2022 5.5% LVMH#20Selective Retailing - Excellent performance at Sephora; DFS strongly impacted by health restrictions in China aut SEPHORA NERALITA P Sephora Excellent performance Strong increase in store traffic Market share gains in key regions Continued investments in logistics and omnichannel strategy New stores in the US in partnership with Kohl's and opening of an iconic flagship store in Qatar Agreement signed for the disposal of subsidiary in Russia 20 First half 2022 results - Selective Retailing DFS Activity impacted by health restrictions in China - Almost complete closure of important destinations such as Hong Kong and Macao Slow start of activity in Hainan Progressive reopening in Australia, Middle East and North America Good success of La Samaritaine Paris Pont-Neuf with both Parisians and tourists Le Bon Marché Sales exceeding H1 2019 levels - Successfully attracting local clients and tourists - Several cultural events: << Su » exhibition of Mehmet Ali Uysal artist, collaboration with Philippe Katerine, concerts Launch of digital platform dedicated to services and experiences LVMH#2102 Consolidated key figures H1 2022 Louis Vuitton#22Organic revenue up 21% versus H1 2021 H1 2022 evolution of revenue (in million of euros) 28 665 H1 2021 22 First half 2022 results Organic growth + 21% Structure impact 0% + 28% Currency effect + 7% 36 729 H1 2022 LVMH#23Balanced geographic revenue mix H1 2022 revenue breakdown by region (in % of total revenue) UNITED STATES 27% vs 25% au H1 2021 OTHER MARKETS 12% vs 11% au H1 2021 23 First half 2022 results FRANCE 7% vs 5% au H1 2021 EUROPE (excl. France) 15% vs 14% au H1 2021 ASIA (excl. Japan) 32% vs 38% au H1 2021 36.7 bn€ REVENUE JAPAN 7% vs 7% au H1 2021 LVMH#24Strong revenue increases in Europe, the US and Japan; Asia impacted in Q2 by health restrictions in China Quarterly organic revenue change by region (in %), versus same period of 2021 + 26% United States +22% 24 First half 2022 results + 24% + 30% Q1 2022 Japan +37% + 33% Q2 2022 + 8% ■H1 2022 Asia (excl. Japan) 8% + 1% +45% Europe + 48% + 47% LVMH#25Double-digit organic revenue growth in all business groups H1 2022 revenue by business group (in million of euros) Wines & Spirits Champagne & Wines Cognac & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Other activities and eliminations Total LVMH H1 2021 25 First half 2022 results 2 705 1 129 1 576 13 863 025 4 023 5 085 (36) 28 665 H1 2022 3 327 1 504 1 823 18 136 3 618 4 909 6 630 109 36 729 H1 2022 vs H1 2021 Reported + 23% + 33% + 16% +31% + 20% + 22% + 30% + 28% Organic* + 14% + 24% + 7% + 24% + 13% + 16% + 22% + 21% * with comparable structure and exchange rates. The structural impact for the Group compared to H1 2021 was almost flat and the currency effect was +7%. LVMH#26Good progress in Q2 for all business groups on high comparison basis Quarterly organic revenue change by business group (in %), versus same period of 2021 Wines & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Total LVMH 26 First half 2022 results Q1 2022 + 2% + 30% + 17% + 19% + 24% + 23% Q2 2022 + 30% + 19% + 8% + 13% + 20% +19% H1 2022 + 14% + 24% + 13% + 16% + 22% + 21% LVMH#27Group share of net profit up 23% versus H1 2021 Summarized income statement (in million of euros) Revenue Gross margin Marketing and selling expenses General and administrative expenses Equity investment income Profit from recurring operations Other operating income and expenses Operating profit Net financial income (expenses) Income taxes Net profit before minority interests Minority interests Group share of net profit H1 2021* 27 First half 2022 results 28 665 19 558 (9 808) (2 108) (21) 7 621 (34) 7 587 12 (2 012) 5 588 (287) 5 300 H1 2022 36 729 25 311 (12 701) (2 378) 3 10 235 (108) 10 127 (798) (2 385) 6943 (412) 6 532 Change vs H1 2021 + 28% + 29% + 29% + 13% * The financial statements as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. + 34% + 218 % + 33% +19% + 24% + 23% LVMH#28Profit from recurring operations over 10 billion euros up 34% versus H1 2021 Profit from recurring operations by business group (in million of euros) 28 First half 2022 results Wines & Spirits Champagne & Wines Cognac & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Other activities and eliminations Total LVMH Operating margin (%) H1 2021* 924 319 605 5 660 393 783 131 (270) 7 621 26.6% H1 2022 1 154 447 707 7 509 388 987 367 (170) 10 235 27.9% Change vs H1 2021 + 25% + 40% + 17% + 33% - 1% + 26% + 181% ns + 34% * The financial statements as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. + 1.3 pt LVMH#29Strong operational improvement and positive currency impact Evolution of profit from recurring operations (in millions of euros) 7621 H1 2021 29 First half 2022 results Organic growth 2 086 M€ Structure impact 39 M€ +34% vs H1 2021 Currency effect 489 M€ 10 235 H1 2022 LVMH#30Financial result impacted by the evolution of financial markets Change in net financial result (in million of euros) Cost of net financial debt Interest on lease liabilities Cost of currency derivatives Fair value adjustment of available for sale financial assets Others Net financial result H1 2021* 30 First half 2022 results 22 (127) (97) 235 (20) 12 *The financial s ents as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. H1 2022 2 (116) (98) (564) (22) (798) Change (M€) 20 + 11 1 799 2 810 LVMH#31Strong financial structure Changes compared to December 31, 2021 ➤ Stable tangible assets, positive currency effects offset impact of revaluation of purchase commitments of minority interests Increased inventories to support progress in business activity Progress in total equity linked to increased net result and impact of currency changes Increased net debt principally due to the payment of the final dividend, increased capital expenditures and the habitual seasonality of cash flow 31 First half 2022 results Non current assets Inventories Other current assets 131 bn€ 72% 14% 14% Assets June 30, 2022 131 bn€ 40% 36% 24% Liabilities Total equity Non current liabilities Current liabilities LVMH#32Operating free cash flow over 4 billion euros Analysis of free cash flow operations (in million of euros) Cash from operations before changes in working capital 32 First half 2022 results Cost of net financial debt: interest paid Lease liabilities: interest paid Tax paid Change in working capital Net cash from operating activities Operating investments Repayment of lease liabilities Operating free cash flow** H1 2021* 10 137 39 (118) (1 593) (783) 7 682 (1 181) (1 202) 5 299 H1 2022 12 932 (24) (113) (2 638) (2 891) 7 266 (1 882) (1 338) 4 046 Change (M€) * The financial statements as of June 30, 2021 have been restated to reflect the impact of the final allocation of the purchase price of Tiffany. ** Before available for sale financial assets and investments, transactions relating to equity and financing activities. 2 795 (63) 5 (1 045) (2 108) (416) (701) (136) (1 253) LVMH#33Gearing of 21.1% Net financial debt (in million of euros) O Gearing 8 684 25% 30/06/2019 6 206 33 First half 2022 results 16% 31/12/2019 8 230 22% 30/06/2020 4 241 11% 31/12/2020 Interim dividend of €5.00 per share to be paid on December 5th, 2022 15 478 36% 30/06/2021 9 607 20% 31/12/2021 11 117 21% 30/06/2022 LVMH#3403 Conclusion AC9S9N Louis Vuitton#352022 Outlook: further strengthen LVMH's global leadership Vigilance Maintain vigilance in current geopolitical context and given continued disruption due to health situation 35 First half 2022 results Confidence Continue growth momentum of our brands and build upon their long-term desirability L Creativity and excellence Stay true to our values with particular attention to creativity, quality and distribution of our products Digitalization Continue the digitalization of our brands to enrich the experience offered to our customers both online and in our stores Engagement Accentuate the Group's commitment to environmental protection and social responsibility LVMH#3604 Annex Louis Vuitton#37Organic revenue change by region and by quarter (in %) 2022 vs 2021 United States Japan Asia (excl. Japan) Europe Total LVMH 2021 vs 2020 United States Japan Asia (excl. Japan) Europe Total LVMH 37 First half 2022 results Q1 2022 + 26% + 30% + 8% + 45% + 23% Q1 2021 + 23% + 8% + 86% -9% + 30% Q2 2022 + 22% + 37% - 8% + 48% + 19% Q2 2021 x 2,1 x 2,1 + 55% + 87% + 84% H1 2022 + 24% + 33% + 1% + 47% + 21% H1 2021 + 60% + 42% + 70% + 25% + 53% LVMH#38Organic revenue change by business group and by quarter (in %) 2022 vs 2021 Wines & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Total LVMH 2021 vs 2020 Wines & Spirits Fashion & Leather Goods Perfumes & Cosmetics Watches & Jewelry Selective Retailing Total LVMH 38 First half 2022 results Q1 2022 + 2% + 30% + 17% + 19% + 24% + 23% Q1 2021 + 36% + 52% + 18% + 35% - 5% + 30% Q2 2022 + 30% + 19% + 8% + 13% + 20% + 19% Q2 2021 + 55% x 2,2 + 67% x 2,2 + 31% + 84% H1 2022 + 14% + 24% + 13% + 16% + 22% + 21% H1 2021 + 44% + 81% + 37% + 71% + 12% + 53% LVMH#39Revenue by business group and by quarter (in million of euros) 2022 Q1 2022 Q2 2022 H1 2022 2021 Q1 2021 Q2 2021 H1 2021 Champagne & Wines 706 798 39 First half 2022 results 1 504 549 580 Cognac & Spirits Champagne Cognac & & Wines Spirits 961 1 129 932 891 1 823 615 1 576 Wines & Spirits 1 638 1 689 3 327 Wines & Spirits 1 510 1 195 2 705 Fashion & Leather Goods 9 123 9 013 18 136 Fashion & Leather Goods 6 738 7 125 13 863 Perfumes & Cosmetics 1 905 1 714 3 618 Perfumes & Cosmetics 1 550 1 475 3 025 Watches & Jewelry 2 338 2 570 4 909 Watches & Jewelry 1 883 2 140 4 023 As table totals are calculated based on unrounded figures, there may be slight discrepancies between these totals and the sum of their component figures. Selective Retailing 3 040 3 591 6 630 Selective Retailing 2 337 2 748 5 085 Other activities & eliminations (41) 149 109 Other activities & eliminations (59) 23 (36) Total 18 003 18 726 36 729 Total 13 959 14 706 28 665 LVMH