BOSS BOTTLED UNITED EXPERIENCE Pitch

CASH OLYMPICS - TARGETING LEVERAGE TOWARDS 5X EXITING CY21, AND CONTINUED DELEVERAGING AFTER KEY STREAMS 1 INVENTORY 2 RECEIVABLES 3 PAYABLES EXAMPLES OF IDENTIFIED OPPORTUNITES MORE THAN $100M IN ANNUAL VALUE AT RISK - $20M REDUCTION TARGETED 4 REAL ESTATE 5 LONG TERM ASSETS 6 CAPEX 7 ONE OFF COST 8 TAX/VAT INTEREST, BANK FEES 10 FACTORING 11 BALANCE SHEET REVIEW REDUCTION IN DSO BY 40 DAYS IN AN EMEA MARKET FOLLOWING GO-TO-MARKET CHANGE, WITH CASH FLOW IMPROVEMENT OF OVER $6M FOCUSED ON IMPROVING COTY'S CREDIT RATING TO ASSIST PAYABLE TERMS/ INSURANCES OF SUPPLIERS COTY SINCE 1904 22

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