LEADING A WORLD

OF CURVES

ANNUAL GENERAL MEETING

20 November 2020

YOUR BOARD OF DIRECTORS

MICHAEL KAY

MICHAEL HARDWICK

MEGAN QUINN

PHIL RYAN

Chairman

Non-Executive Director

Non-Executive Director

Managing Director, CEO

Non-Executive Director

2

C H A I R M A N ' S A D D R E S S

M i c h a e l K ay

FY20 RECAP

OPERATIONAL HIGHLIGHTS

  • Acquisition and integration of Avenue
  • Expanded online offering, which included the launch of Fox & Royal in ANZ (Hips & Curves extension)
  • Launched new global eCommerce platform
  • Consolidated US warehouse and logistics solution
  • Traded profitably through COVID with strong balance sheet to pursue future growth

FINANCIAL HIGHLIGHTS

$194m 0.4% 31.0%

Global Sales

Comp Sales1

Top Line Sales

Growth

Growth

$26.5m 6.6% 13.6%

Underlying

Underlying EBITDA

Underlying EBITDA

EBITDA2

Growth

Margin

65% 42% 663K

Online Sales

Sales in

Active Customers3

Penetration

Northern Hemisphere

(72% YoY Growth)

  1. Represents no adjustment for store closures due to COVID-19. Under City Chic's Comparable Sales Policy, the period stores were closed or partially closed due to COVID-19 restrictions (April and May 2020) are excluded, resulting in comparable sales growth of 6.4% for FY20. In both calculations, comparable sales exclude Wholesale and Online Marketplaces and exclude recent acquisitions of Avenue and Hips & Curves
  2. Underlying EBITDA excludes transaction and transition costs and US logistics consolidation costs and adjusts for accounting changes relating

to AASB16 Leases which were effective from 1 July 2019, in order to present Underlying EBITDA on a like-for-like basis to the prior period. Underlying EBITDA includes the non-cash long term incentive share-based expense of $2.8m in FY20 ($1.1m in FY19)

3. Defined as transacted in last 12 months. Includes Avenue and Hips & Curves customers who have transacted since acquisition. Online

4

represents websites and online marketplace sales; only includes part year sales from Avenue since acquisition in October 2019

C E O ' S A D D R E S S

P h i l R ya n

LEADING A WORLD OF CURVES

CITY CHIC

AVENUE

CCX

CLOUDWALKER

HIPS & CURVES /

FOX & ROYAL

6

RESILIENCE THROUGH COVID-19

  • Diversified omni-channel offering with online channel trading mostly undisrupted through COVID; offset period of temporary store closures
  • Strong digital presence and the supporting customer delivery capability has facilitated online growth; two-thirds of business is now online
  • Traded profitably during height of COVID-19 restrictions
  • Customer-ledoperating model and nimble supply chain allowed early response to change in customer demands (away from party and occasion apparel towards casual, sleep and intimates)
  • Relatively low fixed cost base, early action to realise cost efficiencies including rental reductions; enhanced working capital management
  • Global network allowed redeployment of stock across channels and regions, resulting in a clean inventory position
  • Strong team quick to adapt to changing requirements. Head office redeployed to work from home. Store teams supported throughout, including period of store closures, with additional available services including mental health workshop and skills training and development
  • Strong financial position and cash flow generation, further strengthened by recent equity raising, enabled business to continue to pursue strategy and growth opportunities

7

CUSTOMER-CENTRIC OPERATING MODEL

Nimble operating

Highly engaged

Omni-channel

model; respond

quickly to changes

and growing

strategy; multiple

in demand

customer base

touchpoints

Strong engagement through social media and World of Curves

Own the customer,

not the category

Geographically

Diversified product

Reactive

Long-standing

customer-led

Executive that

diverse operations

range

supply chain

know the customer

8

A YEAR OF

  • Earnings accretive and trading profitably; exceeding sales and earnings expectations
  • Store customer re-engagement underway through direct mail and digital retargeting, with pleasing early signs
  • New eCommerce experience with new website and improved customer service
  • Integrated supply chain and logistics to support cross selling across brands
  • City Chic product received well by the Avenue customer
  • Introducing consistency in extended lifestyles including sleep and intimates
  • Cloudwalker shoe brand has been pleasing with supply and design capabilities established
  • Built inventory to drive growth, aligned to elevated marketing campaign

Acquisition Highlights

Avenue ranked one of

the best 2021

Women's Fashion (single brands) by Newsweek

Acquired US-based Avenue e-commerce business based in October 2019 for US$16.5m

Independent US website delivering everyday fashion with mid-market price point

Met key strategic objectives of US customer acquisition and plus- size product offering expansion

9

BRAND PORTFOLIO & STRATEGIC OPPORTUNITY

FASHION / YOUTH

CONSERVATIVE

INTIMATES

Australia and NZ

North America

• Online Website

• 97 Stores

Market Share Expansion and

Greater Share of Wallet

Market Entry Opportunity

Greater Share of Wallet

•

Online Websites

•

Online Marketplaces

CLOUDWALKER

•

Wholesale

Market Share Expansion /

Market Share Expansion /

Market Share Expansion and

Customer Acquisition

Customer Acquisition

Greater Share of Wallet

EU / UK • Wholesale

Market Entry Opportunity

Market Entry Opportunity

Market Entry Opportunity

10

KEY INITIATIVES TO LEAD

A WORLD OF CURVES

• Significant market share opportunity in the addressable plus size market in North America

• US logistics consolidation complete to enable cross selling opportunities

Market Share Expansion in

• Leveraging Avenue customer base to sell City Chic product; early indications positive

North America

• Improve digital customer experience for Avenue; re-engage store customer to online channel

• New marketing initiatives including first direct mail campaign in October 2020; positive initial indications

• Continue to enter into new marketplace and wholesale partnerships

Market Entry for

• Website build underway; targeting mid-2021 launch

'Conservative' segment in

• Leverage product stream already produced in Conservative stream currently available in the US only

ANZ

• Leverage existing infrastructure in ANZ; significant reach in current market

Market Entry into Europe /

• New market entry for City Chic Collective with modest wholesale trial to date

• Partner led strategy in first stage, with website launch. Targeting mid to end of 2021

United Kingdom

• 3PL partners shortlisted; discussions with partners progressing well

Launched World of Curves community

Expand fashion / youth offering globally

Expanded store footprint in ANZ

11

CUSTOMER-FOCUSED GROWTH STRATEGY

Customer Numbers1 '000

Online Sales1

$m

65%

+29%

Online

+34%

Growth

53%

Sales

Growth

Online

Sales

127

+3%

663

44%

Growth

Online

+4%

40%

Sales

Growth

515

Online

93

Sales

385

375

65

55

Dec-18

Jun-19

Dec-19

Jun-20

Dec-18

Jun-19

Dec-19

Jun-20

1. Defined as transacted and sales in last 12 months. Online represents websites and online marketplace sales

12

FY21 TRADING UPDATE

  • Positive comparable sales growth in the first 20 weeks of FY211
    • 18.7% excluding temporary Victorian store closures
    • 7.9% including temporary Victorian store closures
  • Positive like-for-like stores sales growth (excluding online and Victorian stores)
  • Strong momentum for ANZ online continued into FY21
  • Avenue continues to trade well. Included in comparable sales from mid-October 2020, with positive comps for 4 weeks up to AGM
  • City Chic website in the US continues to improve but still down versus last year. City Chic product sales on the Avenue website is delivering growth for the City Chic brand in the US
  • Marketplace and wholesale partner sales in the US have been significantly impacted due to COVID-19; plan to reinstate key partners by second half of FY21
  • Gross margins have improved significantly since the peak of COVID disruption (April to June), but still slightly lower than the corresponding period last year

1. In accordance with City Chic's Comparable Sales Policy, Avenue has been included in comparable sales from the time the

website has been operating under City Chic ownership for 12 months, being from mid October 2020 (four weeks

13

comparable sales contribution up to the AGM and included in the above comparable sales figures)

2 0 2 0 AG M p rox y s u m m a r y a s a t p rox y c l o s e

Resolution

For

Open

Against

Abstain

1. Adoption of the Remuneration Report

148,175,977

900,693

1,503,597

1,003,955

98.40%

0.60%

1.00%

2. Re-election of Director - Ms Megan Quinn

150,117,784

909,891

180,103

376,444

99.28%

0.60%

0.12%

3. Ratification of Prior Issue of Shares

83,018,179

908,491

1,387,686

57,016,514

97.31%

1.06%

1.63%

IMPORTANT INFORMATION

This presentation has been prepared by City Chic Collective Limited (the "Company"). It contains general background information about the Company's activities and does not purport to be complete. It should be read in conjunction with the Company's other periodic and continuous disclosure announcements.

The Company has prepared this presentation based on information available to it, including information derived from publicly available sources that have not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness or reliability of the information, opinions and conclusions expressed.

This presentation contains forward-looking statements. Forward-looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "project", "should", "could", "would", "target", "aim", "forecast", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar expressions, as well as indications of and guidance on future earnings and financial position and performance. Forward-looking statements are not guarantees or predictions of future performance. They are prepared in good faith and are based on the Company's best estimates and information at the time of preparing the presentation. They are nonetheless subject to significant uncertainties and contingencies many of which are understandably beyond the Company's control. Unanticipated events will occur, and actual future events may differ materially from current expectations for many reasons including new business opportunities, as well as many other internal and external factors. Any of these factors may materially affect the Company's future business activities and financial results. This presentation should not be relied upon as a recommendation or forecast by the Company.

To the maximum extent permitted by law, none of the Company, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.

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City Chic Collective Limited published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 21:44:02 UTC