Hermes Results Presentation Deck

MANARAAAAAAAAAAS RESTATED CASH FLOW STATEMENT in €M Operating cash flows Change in working capital Cash flows related to operating activities Operating investments Repayment of lease liabilities Adjusted free cash flow Financial investments Dividends paid Treasury share buybacks net of disposals Other changes Change in net cash position Closing restated net cash position Opening restated net cash position 2020 1,993 (350) 1,642 (448) (199) 995 (93) (490) (122) 51 342 4,904 4,562 2019 2,063 24 2,087 (478) (203) 1,406 (13) (487) (53) 93 946 4,562 3,615 HERMÈS 2020 RESULTS / 30

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