Asos Results Presentation Deck

◄ © 2023 asos Investing in FY24 to ensure sustainably profitable & cash generative growth in FY25 and beyond FY24 ▪ Sales -5% to -15%, with P4 trend continuing through H1 ■ Adjusted EBITDA positive Stock around £600m Capex c.£130m¹ ▪ Free cash flow generative Reducing net debt position FY25 ▪ Return to growth ■ EBITDA margin around pre-COVID levels (c.6%) ¹ c.£45m automation investment at Lichfield fulfilment centre now treated as adjusting opex as on-site operations planned to cease in FY24 ▪ Gross margin expansion towards 50% Medium-term ■ EBITDA sustainably ahead of capex, interest, tax and leases ■ Inventory of c.100 days Capex to 3-4% of sales ■ 14 asos

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