First Half 2021 Results

FIRST 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

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