Asos Results Presentation Deck

© 2023 asos Executing on Driving change agenda, creating strong foundations for sustainable profit and cash generation H1 FY23 Operational excellence New Commercial model Robust Balance sheet Leadership & culture Driving Change Sales declined 7% ¹ reflecting a challenging backdrop and planned profitability initiatives. Adjusted EBIT of (£69.4)m reflecting phasing of headwinds and benefits across FY23. On track to deliver over £300m benefits, with over £100m delivered in H1 and more than 95% of H2 balance flowing from actions already taken. Stock reduction ahead of plan (down 9% vs FY22 year end), with plan to reduce stock c.20% YoY by year end. Gross margin exit rate up over 300bps YoY. Cash headroom of over £400m at H1 FY23. In May, amended and extended £350m RCF facility through to November 2024. Simplified decision-making processes, promoted culture of innovation, and reinforced the senior leadership team with strategic key hires. Remain focused on executing the final stages of Driving Change agenda, creating strong foundations for next phase of growth. ¹Total sales growth based on constant currency sales growth and excludes Russian sales in H1 FY22 All sources: ASOS internal operational records 3 asos

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