Investor Presentaiton

All Jawoll stores are profitable FY16 Store Contribution for the 50 Jawoll stores open for the full year € 1,750,000 1,500,000 1,250,000 1,000,000 750,000 500,000 250,000 0 T 5 T 10 10 T T 15 20 20 Average store contribution €500k pa Mu. T T 25 25 30 35 40 45 45 50 50 Source: Management Accounts, IFRS Note: includes all 50 stores opened by April 2015, excludes franchised stores bm June 2016 - Germany Analyst and Investor Day 25 25

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