Asos Results Presentation Deck

Our gross margin stepped back, driven primarily by COVID impacts.... Gross margin reflects incremental freight costs, lockdown product mix and FX movements 47.4% Gross Lockdown Freight Margin category & Duty FY '20 mix FX I I I I I I I 1 T Other 45.4% Gross Margin FY '21 Category mix started to normalise in H2 and expect to normalise further in FY22 Freight costs driven by Brexit duty and global supply chain disruption FX headwinds driven largely by 15% devaluation of the Russian Rouble 8 Other costs reflects increased promo activity and pricing investment offset by favourable intake margin asos

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