2021 Annual Results

Increase of net financial debt mainly due to payment of Tiffany's acquisition price in early January 2021 Net financial debt (in million of euros) Gearing 3 244 O 12% 31/12/2016 7153 6206 5487 4241 9.607 24% O 16% 20% 16% 11% 31/12/2017 31/12/2018 31/12/2019 31/12/2020 31/12/2021 ➤ Confirmation of long-term credit ratings with a stable perspective from Moody's and Standard & Poor's, respectively Al and A+. 29 2021 Annual Results LVMH

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