COTY 2Q23 EARNINGS CALL February 8, 2023 1 KEY MESSAGES ROBUST BEAUTY DEMAND DRIVES Q2 SALES GROWTH AHEAD OF GUIDANCE ▪ Q2 LFL REVENUE GROWTH OF +4%, WITH CORE BUSINESS (ADJUSTING FOR RUSSIA EXIT) +7% LFL, BRINGING 1H23 CORE LFL TO +9%, AHEAD OF GUIDANCE OF 6-8% SOLID GROSS MARGIN, PROFIT & NET DEBT PERFORMANCE DESPITE INFLATION ▪ 2Q22 ADJ GROSS MARGIN +90 BPS YOY, WITH 1H22 +80 BPS YOY; Q2 ADJ OPERATING INCOME +11%, NET DEBT <$3.9B WITH LEVERAGE ~4X AND TARGETING ~3X EXITING CY23 PROGRESS ACROSS EACH STRAT ...