Investor Presentaiton

Store payback profile (excluding FY16 openings) €m, IFRS, March YE Revenue per store Store contribution Net investment Payback period Payback period incl. WC 2 COMPANY AVERAGE 1 €3.2m €0.5m €0.3m 8 months 22 months 1 Based on all 50 stores opened by April 2015, excludes franchised stores 2 Assumes Working Capital requirement at 31/3/16. Management believe this can be reduced significantly as the store estate is expanded to improve stock-turns on Direct Sourced products from the Far East. bm June 2016 - Germany Analyst and Investor Day 26

View entire presentation