Commerzbank German Investment Seminar // New York City

Commerzbank German Investment Seminar // New York City Mark Langer, Chief Financial Officer January 10-11, 2012 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 2 / 54

AGENDA MEDIUM-TERM GROUP STRATEGY CURRENT TRADING AND OUTLOOK SUMMARY Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 3 / 54

AGENDA MEDIUM-TERM GROUP STRATEGY CURRENT TRADING AND OUTLOOK SUMMARY Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 4 / 54

HUGO BOSS Medium-term targets increased in early November Sales (in EUR million) EBITDA before special items (in EUR million) 750 CAGR 12% 2,500 3,000 CAGR 16% 500 1,729 350 2010 2015 old 2015 new 2010 2015 old 2015 new Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 5 / 54

HUGO BOSS Growth strategy MAXIMIZING CONSUMER FOCUS TO DRIVE RETAIL STRENGTHENING INDIVIDUAL BRAND IDENTITIES Project D.R.I.V.E. STRIVING FOR OPERATIONAL EXCELLENCE EXPLOITING GLOBAL GROWTH OPPORTUNITIES Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 6 / 54

DISTRIBUTION Retail to account for 55% of Group sales in 2015 Retail 33% 40% 55% 19% Wholesale 64% 57% 43% 5% Licenses 3% 3% 2% 2009 2010 2011e 2015e CAGR 2010 2015e Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 7 / 54

WHOLESALE Capturing growth opportunities Competition in most major wholesale markets is tough but HUGO BOSS is best positioned for further growth Offering desirable brands Leveraging strength in core offerings across the brand portfolio Delivering the right product at the right place at the right time Providing intelligent replenishment solutions Taking over merchandising responsibility Sharing own retail best practices Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 8 / 54

RETAIL The HUGO BOSS retail universe Number of own retail stores as of September 30, 2011 AMERICAS 120 EUROPE 292 ASIA/PACIFIC 179 Target to open around 50 new stores every year organically Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 9 / 54

RETAIL Ongoing development initiatives in all fields Product Systems Supply Chain & Distribution Personnel Operations Consumer facing Consumercentric development process Improved preorder planning Single productbased productivity analysis Core Range offering Reporting enhancements through Groupwide SAP Retail platform Ongoing optimization of instore systems More flexible inseason product allocation based on actual demand Transparent merchandise flow across the supply chain Implementation of store operations manual Standardized retail staff training Introduction of new incentive elements Systematic CRM approach Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 10 / 54

RETAIL Key to achievement of 2015 targets Structural Changes Positive mix effect on gross margin Store expansion results in higher rent and personnel expenses Shift from receivables to inventories Increasing operating lease obligations Key levers for further profitability improvement Consistent comp store sales growth Improved merchandise management process Operating leverage through efficient retail management Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 11 / 54

ONLINE e-commerce a powerful third distribution channel Constant improvement of usability, product assortment, presentation and service features Dedicated mono-brand sub-stores to elevate consumer experience Several new store launches planned for 2012, including Online Sales (in EUR million) 0.5 7.8 19.7 2008 2009 2010 2011e Mobile store in first half China online store in second half Online to become a 150 million euro business by 2015 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 12 / 54

BRANDS Targeting clearly defined consumer segments Luxurious Modern Authentic HUGO BOSS Brand Portfolio Premium Modern Sophisticated Refined Casual Masculine Aesthetic Progressive Avant-garde Contemporary Sportive Relaxed Energetic Casual Urban Chic Contemporary Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 13 / 54

BOSS Selection Addressing the luxury consumer Role within HUGO BOSS The most luxurious brand with the highest quality standards Brand Personality Luxurious, modern, authentic Brand Promise Exquisite style, high value materials and workmanship Point of difference Innovation in style and taste Brand Purpose Create an exquisite and authentic style for all occasions BOSS Selection revenues to reach 100 million euro by 2015 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 14 / 54

WOMENSWEAR Growth strategy refined 01 Organization Dedicated womenswear organization across all functions 02 Brands Sharper and more focused brand image 03 Design Emphasize femininity across the product range 04 Product Range Grow luxury sportswear category 05 Communication Key communication focus in Fall 2012 06 Events New York Fashion Show in September 2012 Target to achieve overproportionate sales growth in womenswear Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 15 / 54

WOMENSWEAR Different brand identities reflected in unique designs casual urban chic sportive relaxed modern sophisticated progressive avant-garde Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 16 / 54

SHOES & ACCESSORIES Exploiting growth opportunities TODAY GROWTH STRATEGY Accounts for around 10% of Group sales Dominant market position in men s dress and casual shoes Underpenetrated in womenswear accessories Strengthen and enlarge design team Closer cooperation between apparel and S&A development teams Focus on complementing core apparel offering Build category business in department stores Increase visibility in advertising Generate PR through product endorsements Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 17 / 54

REGIONS Asia/Pacific expected to grow overproportionately Asia / Pacific Americas 11% 8% 20% 13% 22% 21% 22% 23% 13% Europe 67% 62% 54% 9% Licenses 3% 2009 3% 2010 2011e 2% 2015e CAGR 2010-2015 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 18 / 54

EUROPE Set for continued growth Leveraging brand strength to gain space in wholesale Store expansion and productivity gains to support overproportionate growth in retail Encouraging first results from implementation of Project D.R.I.V.E. Eastern Europe an important growth region Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 19 / 54

AMERICAS Strong brand momentum to continue Favorable brand perception built on modern European design, consistent fit and superior value Attractive brand presentation in high-end US department stores Selective retail expansion and robust e-commerce growth Medium-term opportunities in Latin American market Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 20 / 54

ASIA / PACIFIC China the region s most important growth engine Focus on further building luxury brand perception in China Tremendous growth opportunities for BOSS Selection brand Enlargement and upgrade of retail footprint Operational backbone strengthened Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 21 / 54

PROJECT D.R.I.V.E. Key enabler of growth strategy 1 2 Consumer centric business model 5 38 38 Weeks Weeks Desirable brand with best POS performance 3 Faster response to market changes Better and more focused assortment 4 1 2 3 4 5 Systematic analysis of sell through data Consumer insight drives collection planning Sales floor optimized product development Focus on wholesale and own retail needs alike Active sell through management Strong brands Above average growth Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 22 / 54

PROJECT D.R.I.V.E. Striving for operational excellence Core Range Sourcing & Manufacturing Time to Market Quality Improvements D.R.I.V.E. Complexity Optimization Direct Development & Delivery Increase Product Efficiencies Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 23 / 54

PROJECT D.R.I.V.E. 38 week lead time fully implemented Time to Market Jun. Jul. Aug. Sep. Oct. Nov. Dec. Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Product Development Past Sales Production Sell Thru Product Development 4-cycle Feedback from market, sales, retail sales Sales Production Sell Thru Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 24 / 54

PROJECT D.R.I.V.E. Implementation of 4-season cycle Time to Market Cycle shift fully reflected in retail Fresher merchandise offering Better adjustment to seasonal differences in consumer buying behavior Increasing wholesale support P A S T F U T U R E Current delivery curve MAR SEP DEC JAN FEB APR MAY JUN JUL AUG OCT NOV 2 main collections and 2 much smaller pre-collections Full price sales curve WHS WHS WHS WHS DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV 4 equally weighted collections based on actual consumer buying behavior Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 25 / 54

PROJECT D.R.I.V.E. More focused development process translates into significant complexity reduction Number of styles Complexity Optimization 20,000 15,000-34% 10,000 5,000 0 2009 2012e Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 26 / 54

PROJECT D.R.I.V.E. Core range a major productivity driver in Europe Core Range Share of Core Range (in %) 75% Value share of core range Core range style/colors as % of total collection style/colors 67% Units sold per style (Fall 2011) 60% 45% 45% x 3.5 30% 15% 15% 28% Fall 2011 Spring 2012 Non Core Range Core Range Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 27 / 54

AGENDA MEDIUM-TERM GROUP STRATEGY CURRENT TRADING AND OUTLOOK SUMMARY Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 28 / 54

Current trading supports full year and medium-term growth expectations Good holiday season across all major markets Healthy demand in most European markets despite economic challenges No signs of slowdown in the Americas Slight moderation of growth trends in Asia / Pacific Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 29 / 54

FINANCIAL GUIDANCE On track for achievement of 2011 targets 2011 Outlook Sales growth (currency-adjusted) Growth of EBITDA before special items 15% - 17% 25% - 30% Capex approx. EUR 90 mill. Own retail network Expansion by around 70 stores Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 30 / 54

AGENDA MEDIUM-TERM GROUP STRATEGY CURRENT TRADING AND OUTLOOK SUMMARY Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 31 / 54

SUMMARY HUGO BOSS set for long-term growth Clear growth strategy in place All brands in good shape Increasing retail sophistication adds to historical strength in wholesale Growth opportunities in all regions Project D.R.I.V.E. key enabler of far-reaching business model improvements Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 32 / 54

BACKUP Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 33 / 54

BOSS Black Brand DNA Role within HUGO BOSS Core brand of HUGO BOSS Brand Personality Modern, superior, premium Brand Promise Being impeccably and appropriately dressed in every situation Point of difference Contemporary elegance and perfection associated with a desirable lifestyle Brand Purpose Modern classics for business, leisure time and events perfect looks that underline the customer s individuality and meet superior standards in quality, design, fit & workmanship Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 34 / 54

BOSS Orange Brand DNA Role within HUGO BOSS Rough and unpolished side of HUGO BOSS Brand Personality Urban, modern, confident Brand Promise Modern casual wear that adapts to the lifestyle of the metropolitan inner-city Point of difference Fashion-driven premium casual wear for individual style-seekers Brand Purpose Premium lifestyle collection for every day use with an urban fashion twist Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 35 / 54

HUGO Brand DNA Role within HUGO BOSS The fashion spearhead of HUGO BOSS Brand Personality Edgy, progressive, creative, individual Brand Promise Avant-garde / contemporary fashion that underlines a creative and individual attitude Point of difference Unconventional & progressive without being loud Brand Purpose High fashion for men and women for almost every occasion (worklife & nightlife) Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 36 / 54

BOSS Green Brand DNA Role within HUGO BOSS The golf & premium sportswear / lifestyle brand Brand Personality Relaxed, sporty, optimistic, vigorous Brand Promise Golf meets lifestyle in a premium sportswear collection based on vibrant colors Point of difference Sophisticated lifestyle sports fashion with roots in the golf sport Brand Purpose Premium sportswear for the sophisticated golfer and people with a relaxed sporty attitude Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 37 / 54

PROJECT D.R.I.V.E. Striving for operational excellence Core Range Sourcing & Manufacturing Time to Market Quality Improvements D.R.I.V.E. Complexity Optimization Direct Development & Delivery Increase Product Efficiencies Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 38 / 54

PROJECT D.R.I.V.E. Implementation in full swing Time to Market D J F M A M J J A S O N D SPRING Order: ~ Jul / Aug Spring 1 Spring 2 Spring 3 SUMMER Order: ~ Oct / Nov Summer 1 Summer 2 Summer 3 FALL Order: ~ Jan / Feb spring / summer core themes Fall 1 Fall 2 Fall 3 WINTER Order: ~ Apr / May Winter 1 Winter 2 Winter 3 fall / winter core themes Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 39 / 54

PROJECT D.R.I.V.E. Efficient global sourcing activities Sourcing & Manufacturing EUROPE (62%) - thereof 17% HB IZMIR - NORTH AMERICA (1%) CHINA (16%) NORTH AFRICA (9%) CENTRAL & SOUTH AMERICA (1%) SOUTH EAST ASIA (11%) As of full year 2010. Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 40 / 54

Investments support realization of key strategic growth opportunities Annual investments (in EUR million) 140 120 100 80 60 99 85 119 48 55 Strengthening the Group s retail footprint Upgrading supply chain capabilities 40 20 0 2006 2007 2008 2009 2010 2011e Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 41 / 54

Profit-oriented dividend policy Dividend* and payout ratio (in EUR and in % of consolidated net income) 2.0 2.03 1.5 1.46 1.38 1.20 1.0 0.97 0.5 64.1% 65.2% 84.7% 64.0% 75.2% 0.0 2006 2007 2008 2009 2010 Group committed to pay out between 60% and 80% of consolidated net income * Preferred shares / excluding special dividend. Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 42 / 54

Strong free cash flow generation to sustain further debt reduction Net debt (in EUR million) 600 583 500 400 379 300 200 100 118 174 201 0 2006 2007 2008 2009 2010 Use of Free Cash Flow to further reduce net debt Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 43 / 54

NINE MONTHS RESULTS AT A GLANCE Sales (in EUR million) 1,600 1,200 1,307 +19% 1,560 Gross margin (in %) 60% 45% 59.2% 58.8% 58.0% 59.9% -0.4 pp +1.9 pp 800 538 615 30% 400 +14% 15% 0 Q3 2010 Q3 2011 Jan - Sep. 2010 Jan. - Sep. 2011 0% Q3 2010 Q3 2011 Jan. - Sep. 2010 Jan. - Sep. 2011 EBITDA before special items (in EUR million) 360 300 240 180 120 60 0 150 +18% 177 273 +36% 372 Q3 2010 Q3 2011 Jan. - Sep. 2010 Jan. - Sep. 2011 Net debt (in EUR million) 320 280 240 200 160 120 80 40 0 304 247-19% Sep. 30, 2010 Sep. 30, 2011 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 44 / 54

SALES Sales up in all regions Sales development by region, y-o-y Jan. - Sep. 2011 in euro fx adjusted Sales development by region, y-o-y Q3 2011 in euro fx adjusted Europe* 16% 15% Europe* 15% 14% Americas 18% 25% Americas 13% 22% Asia/Pacific 40% 41% Asia/Pacific 16% 20% Group 19% 20% Group 14% 16% 0% 10% 20% 30% 40% 50% 0% 10% 20% 30% Europe continues to expand at a double-digit rate Americas the strongest growing region in the third quarter Q3 sales development in Asia reflects non-recurrence of consolidation effects *incl. Middle East and Africa Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 45 / 54

SALES All distribution channels grow at double-digit rate year-to-date Sales development by distribution channel, y-o-y Jan. - Sep. 2011 in euro fx adjusted Sales development by distribution channel, y-o-y Q3 2011 in euro fx adjusted Wholesale 10% 10% Wholesale 8% 9% Retail 36% 38% Retail 27% 30% Royalties 10% 10% Royalties 12% 12% Group 19% 20% Group 14% 16% 0% 10% 20% 30% 40% 0% 5% 10% 15% 20% 25% 30% Solid growth in wholesale despite negative impact from franchise takeovers Retail comp store sales increase reaches +6% in Q3 (+9% year-to-date, both currency-adjusted) Fragrance launches drive sales improvement in royalties business Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 46 / 54

GROUP INCOME STATEMENT Jan. - Sep. Jan. - Sep. Change Q3 2011 Q3 2010 Change in EUR million 2011 2010 in % in % Net sales 1,559.6 1,307.0 19 615.0 538.0 14 Cost of sales (596.4) (521.0) (14) (241.1) (205.1) (18) Direct selling expenses (29.0) (28.3) (2) (12.0) (14.5) 17 Gross profit 934.2 757.7 23 361.9 318.4 14 in % of sales 59.9 58.0 1.9 pp 58.8 59.2 (0.4) pp Selling and distribution expenses (473.2) (403.0) (17) (159.1) (140.8) (13) Administration costs and other operating income and expenses (139.6) (139.0) 0 (43.1) (49.0) 12 Operating result (EBIT) 321.4 215.7 49 159.7 128.6 24 in % of sales 20.6 16.5 4.1 pp 26.0 23.9 2.1 pp Net interest income/expense (11.8) (12.9) 9 (4.1) (4.2) 0 Other financial items 1.2 0.3 >100 2.0 (3.7) >100 Financial result (10.6) (12.6) 16 (2.1) (7.9) 73 Earnings before taxes 310.8 203.1 53 157.6 120.7 31 Income taxes (74.6) (48.3) (54) (37.9) (28.5) (33) Net income 236.2 154.8 53 119.7 92.2 30 Attributable to: Equity holders of the parent company 231.1 153.9 50 118.0 91.3 29 Minority interests 5.1 0.9 >100 1.7 0.9 90 Net income 236.2 154.8 53 119.7 92.2 30 Earnings per share (EUR) 1 Common share 3.34 2.24 49 1.71 1.34 28 Preferred share 3.35 2.25 49 1.71 1.34 28 1 Basic and diluted earnings per share. Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 47 / 54

SEGMENT PROFIT Profitability improvements in all regions Jan. - Sep. in % of sales Jan. - Sep. in % of sales Change in % in EUR million 2011 2010 Europe* 397.9 40.4 324.8 38.4 23 Americas 83.7 25.6 62.0 22.4 35 Asia/Pacific 75.0 34.9 51.4 33.3 46 Royalties 29.2 89.6 26.6 89.4 10 Segment profit operating segments 585.8 37.6 464.8 35.6 26 Corporate units / consolidation (213.7) (191.8) EBITDA before special items 372.1 23.9 273.0 20.9 36 EBITDA margin in Europe exceeds 40% Strongest margin increase in the Americas Retail expansion drives improvement in Asia *incl. Middle East and Africa Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 48 / 54

Tight working capital management continues to be a top priority Average trade net working capital as a percentage of sales by quarter (in %) 30% 20% 29.7% 28.5% 27.2% 24.6% 22.7% 20.9% 19.9% 19.2% 19.1% 19.3% 19.6% 10% 0% Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 49 / 54

RETAIL NETWORK Net increase of 54 stores in first nine months of 2011 Number of own retail stores: 537 *Europe incl. Middle East / Africa EUROPE* AMERICAS + 49 + 7 + 6 USA + 1 Brazil + 22 UK (incl. 15 Moss Bros stores) + 6 Netherlands + 6 Spain + 4 France + 4 Portugal + 1 Austria + 1 Germany + 1 Italy + 1 Poland + 1 Sweden + 1 Switzerland + 1 Turkey ASIA/PACIFIC + 20 China + 3 Japan CLOSINGS + 23-25 Dec. 31, 2010 Sep. 30, 2011 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 50 / 54 591

FINANCIAL CALENDAR 2012 Date Event February 9, 2012 Preliminary Full Year 2011 Results March 14, 2012 Press and Analysts Conference April 26, 2012 First Quarter Results 2012 May 3, 2012 Annual Shareholders Meeting July 31, 2012 First Half Year Results 2012 October 30, 2012 Nine Months Results 2012 Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 51 / 54

INVESTOR RELATIONS CONTACT Dennis Weber, Head of Investor Relations Phone: +49 (0) 7123 94-86267 E-Mail: Dennis_Weber@hugoboss.com Internet: www.hugoboss.com Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 52 / 54

FORWARD-LOOKING STATEMENTS CONTAIN RISKS Date This document contains forward-looking statements that reflect management's current views with respect to future events. The words "anticipate, "assume, "believe", "estimate", "expect", "intend", "may", "plan", "project", "should", and similar expressions identify forward-looking statements. Such statements are subject to risks and uncertainties. If any of these or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend or assume any obligation to update any forward-looking statement, which speaks only as of the date on which it is made. Commerzbank German Investment Seminar // New York City HUGO BOSS January 10-11, 2012 53 / 54