GRUPO CORTEFIEL is one of Europe s top fashion

GRUPO CORTEFIEL is one of Europe s top fashion names operating in the specialised chain sector. Founded in Madrid in 1880, today it is present in 89* countries and has 1,982* points of sale. Cortefiel, Pedro del Hierro, Springfield and Women secret are the four brands that make up Grupo Cortefiel, which also owns Fifty Factory, a chain of outlet stores. Each one has its own design team and a customer-oriented sales and management network. In order to guarantee maximum efficiency in the management of this multi-format business model, the Group s head offices centralise the administrative, financial, technological, expansion, sourcing and human resource services, as well as other major corporate executive functions. Distribution is organised around a network of logistics centres centralised at Spain. The company also has international buying offices in Spain, Hong Kong and India. Grupo Cortefiel s consolidated expansion policy includes the opening of direct operated stores and franchises. The direct management system is implemented mainly in Europe, whilst the franchise system is the primary vehicle for INTERNATIONAL EXPANSION. Skilled professionals of more than 20 nationalities work to ensure excellence in all the Company s products and services, obtaining a turnover of 1,128 million euros in 2016. *Data as of February 2017 2

HISTORY 1880-2017 / 2017 / Grupo Cortefiel operates in 89 countries / 2014 / / 2013 / Grupo Cortefiel awarded with Premio Nacional a la Gran Empresa de Moda ( National Prize for a Large Fashion Company ) Pedro del Hierro presents its collection at New York Fashion Week. / 2012 / Grupo Cortefiel operates 100% on line Launch of new line PdH Sport / 2010 / Springfield launches on line store / 2005 / Change of ownership / 2000 / International expansion / 1993 / / 1992 / is created is acquired brand is created / 1988 / First International Stores / 1945 / Suits Factory brand is created / 1933 / Shirt Factory opening / 1880 / Small Family Business 3

POINTS OF SALE location maps 1,982 POINTS OF SALE IN 89 * COUNTRIES EUROPE 1,416 AMERICA 238 MIDDLE EAST & AFRICA 234 ASIA & OCEANIA 94 * Group extends its operations to 84 countries with physical points of sale and operates in 29 countries through online sales. Data as of February 2017. 4

POINTS OF SALE EUROPE 1,416 POINTS OF SALE IN 37 COUNTRIES POINTS OF SALE CTF PDH* SPF WS FIFTY FACTORY TOTAL Spain 140 9 331 275 49 804 Albania 1 1 2 Andorra 2 4 2 8 Armenia 1 1 Austria 2 2 Belarus 2 5 7 Belgium 2 22 14 38 Bosnia 1 7 4 1 13 Bulgary 1 2 1 4 Croatia 8 8 16 Cyprus 8 14 3 25 Czech Republic 2 1 3 Estonia 3 1 3 5 12 France 55 3 58 Georgia 1 1 Germany 11 11 Gibraltar 1 1 2 Greece 4 Hungary 12 9 21 Iceland 1 1 1 Ireland 11 11 Italy 43 43 Latvia 2 1 2 5 Lithuania 1 1 2 2 6 Luxembourg 5 1 6 Macedonia 4 1 5 Malta 1 3 2 6 Montenegro 1 1 2 4 Norway 1 1 Poland 7 7 Portugal 24 60 48 8 140 Romania 2 3 5 Russia 8 29 47 84 Serbia 1 14 15 30 Slovakia 2 1 3 Slovenia 2 2 Ukraine 3 7 12 22 TOTAL DIRECT OPERATED + FRANCHISE CTF PDH* SPF WS FIFTY FACTORY TOTAL 198 14 670 476 58 1,416 *Stand alone (PdH woman). Data as of February 2017 5

POINTS OF SALE MIDDLE EAST & AFRICA 234 POINTS OF SALE IN 20 COUNTRIES POINTS OF SALE CTF SPF WS TOTAL Algeria 1 1 4 6 Angola 6 6 6 18 Bahrain 1 1 Egypt 4 7 7 18 Ghana 2 1 3 Iran 1 9 5 15 Israel 23 23 Jordan 2 3 2 7 Kuwait 3 2 7 12 Lebanon 2 11 3 16 Libya 1 1 Morocco 1 1 Oman 1 1 Qatar 2 2 2 6 Saudi Arabia 9 11 39 59 South Africa 2 2 Syria 1 2 3 Tanzania 2 2 2 6 Tunisia 3 1 4 UAE 21 11 32 TOTAL 33 104 97 234 *Stand alone (PdH woman). Data as of February 2017 6

POINTS OF SALE AMERICA 238 POINTS OF SALE IN 16 COUNTRIES POINTS OF SALE CTF PDH* SPF WS TOTAL Bermuda 1 1 Bolivia 1 1 2 2 6 Chile 4 13 17 Colombia 9 9 Costa Rica 1 3 2 6 Curaçao 1 1 1 3 Dominican Republic 1 2 2 5 Ecuador 10 18 9 37 Guatemala 1 1 1 3 Mexico 24 42 43 109 Panama 1 1 Paraguay 1 2 3 Peru 6 14 2 22 United States Uruguay 2 2 Venezuela 3 5 6 14 TOTAL 51 2 91 94 238 *Data as of February 2017 7

POINTS OF SALE ASIA & OCEANIA 94 POINTS OF SALE IN 11 COUNTRIES POINTS OF SALE CTF PDH* SPF WS TOTAL Azerbaijan 2 2 China 28 28 Indonesia 2 2 Kazakhstan 1 4 5 Kyrgyszstan 1 1 2 Malaysia 5 5 Myanmar 2 1 3 Pakistan 1 1 2 South Korea 9 9 Thailand 5 3 8 The Philippines 2 8 13 5 28 TOTAL 4 9 58 23 94 *Stand alone (PdH woman). Data as of February 2017 8

CORTEFIEL Cortefiel is the Group s original brand. Created in 1945. Through its collections, the Cortefiel brand enjoys a loyal customer base, built up over fifty years, who trust a fashion alternative offering quality and fabulous styles. Cortefiel offers the latest fashion combined with comfort for those who see the world through today s eyes. Steady growth over the years has turned Cortefiel into a consolidated brand and a major fashion reference. Today Cortefiel is present in 40 countries with 286 direct operated stores and franchises. KEY INFORMATION Established Points of sale Countries 1945 286 40 Data as of February 2017 9

PRESENCE AND POINTS OF SALE CORTEFIEL POINTS OF SALE Spain 140 Albania 1 Algeria 1 Andorra 2 Angola 6 Belgium 2 Bolivia 1 Bosnia 1 Bulgary 1 Chile 4 Costa Rica 1 Curaçao 1 Cyprus 8 Dominican Republic 1 Ecuador 10 Egypt 4 Estonia 3 Georgia 1 Iceland 1 Iran 1 Jordan 2 CTF Peru 6 Portugal 24 Qatar 2 Russia 8 Saudi Arabia 9 Serbia 1 Syria 1 Tanzania 2 The Philippines 2 Venezuela 3 Kazakhstan 1 Kuwait 3 Latvia 2 Lebanon 2 Lithuania 1 Malta 1 Mexico 24 Montenegro 1 Pakistan 1 TOTAL CTF 286* *A relevant variation of this document was produced in this report with respect to previous reports. Since 2016, the criteria for quantifying points of sale have changed so that the points of sale for Cortefiel and PdH men and women are no longer differentiated, meaning that, in all cases, they are grouped into a single point of sale. This represents the current implementation and marketing policies of both brands more accurately. Data as of February 2017 10

CORTEFIEL STORES 11

PEDRO DEL HIERRO Grupo Cortefiel acquired the brand Pedro del Hierro in 1992, rapidly turning it into a top name with a natural, and a unique sense of urban style inspired in today s contemporary self-confident men and women. PERSONALITY AND A UNIQUE SENSE OF STYLE The design of the Pedro del Hierro brand is always in constant evolution, harmoniously combining the essences of fashion and the visionary aspect of trends, dressing for prêt-à-porter, haute couture, or urban style. Pedro del Hierro embarked on its international expansion strategy in 2007. Today it is present in 42* countries and 311* points of sale. KEY INFORMATION Acquisition of the brand by the Group 1992 Points of sale 311* Countries 42* * Stand alone (PdH woman) + Cortefiel stores. Data as of February 2017 12

PEDRO DEL HIERRO STORES 13

SPRINGFIELD Grupo Cortefiel s most youthful and urban brand was first created in 1988 as an alternative to traditional men s fashion stores. The positive response to the launch led Grupo Cortefiel to expand its basic range, introducing collections in keeping with the latest trends. Since then, Springfield has enjoyed a steady and sustained growth. The launch of the women s collection in 2006 is another milestone in the label s development. Springfield target young men and women between 20 and 35 with a relaxed outlook on life and fashion. Each season the label s designers observe, combine and adapt the latest trends to create a style ideal for any time of the day. The unique use of colour, combining a meticulous attention to pattern, the wash and design process is the unmistakable hallmark of a relaxed casual style on all its creations. Four years after its creation, Springfield embarked on an international expansion, opening its first stores in Portugal, and is now present in 66 countries with 923 sale points, under franchise or as stores. KEY INFORMATION Established 1988 923 Points of sale Countries 66 Data as of February 2017 14

PRESENCE AND POINTS OF SALE SPRINGFIELD POINTS OF SALE SPF Paraguay 1 Peru 14 Poland 7 Portugal 60 Qatar 2 Romania 2 Russia 29 Saudi Arabia 11 Serbia 14 Slovakia 2 Tanzania 2 Thailand 5 The Philippines 13 Tunisia 3 Spain 331 Albania 1 Algeria 1 Andorra 4 Angola 6 Austria 2 Belarus 2 Belgium 22 Bolivia 2 Bosnia 7 Bulgary 2 China 28 Costa Rica 3 Croatia 8 Curaçao 1 Cyprus 14 Czech Republic 2 Dominican Republic 2 Ecuador 18 Egypt 7 Estonia 3 France 55 Germany 11 Ghana 2 Gibraltar 1 Guatemala 1 Hungary 12 Iceland 1 Iran 9 Ireland 11 Israel 23 Italy 43 Jordan 3 Kazakhstan 4 Kuwait 2 Kyrgyzstan 1 Latvia 1 Lebanon 11 Libya 1 Lithuania 2 Luxembourg 5 Macedonia 4 Malaysia 5 Malta 3 Mexico 42 Montenegro 1 Myanmar 2 Norway 1 UAE 21 Ukraine 7 Uruguay 2 Venezuela 5 TOTAL SPF 923 Data as of February 2017 15

SPRINGFIELD STORES 16

WOMEN SECRET Women secret sells lingerie, sleepwear, accessories and swimwear for the modern women between 25 and 45. The design team develop new ideas to make women s lives easier and happier, on occasions generating emotions and at other times offering solutions. Women secret was founded in 1993, and its first store opened in the centre of Madrid. Since the early days, Women secret is committed to being a leader in creativity, efficiency and awareness in the underwear and lingerie sector. In 2001, Women secret embarked on an international expansion strategy and today has 690 stores in 69 countries. The Women secret online store sells throughout the metropolitan euro zone. KEY INFORMATION Established 1993 Points of sale 690 Countries 69 Data as of February 2017 17

PRESENCE AND POINTS OF SALE WOMEN SECRET POINTS OF SALE Spain 275 Andorra 2 Algeria 4 Angola 6 Armenia 1 Azerbaijan 2 Bahrain 1 Belarus 5 Belgium 14 Bermuda 1 Bolivia 2 Bosnia 4 Bulgary 1 Chile 13 Colombia 9 Costa Rica 2 Croatia 8 Curaçao 1 Cyprus 3 Czech Republic 1 Dominican Republic 2 Ecuador 9 Egypt 7 Estonia 5 France 3 Ghana 1 Gibraltar 1 Greece 4 Guatemala 1 Hungary 9 Iceland 1 Indonesia 2 Iran 5 Jordan 2 Kuwait 7 Kyrgyzstan 1 Latvia 2 Lebanon 3 Lithuania 2 Luxembourg 1 Macedonia 1 Malta 2 Mexico 43 Montenegro 2 Morocco 1 Myanmar 1 Norway 1 Oman 1 Panama 1 Paraguay 2 Peru 2 Portugal 48 Qatar 2 WS Romania 3 Russia 47 Saudi Arabia 39 Serbia 15 Slovakia 1 Slovenia 2 South Africa 2 South Korea 9 Syria 2 Tanzania 2 Thailand 3 The Philippines 5 Tunisia 1 UAE 11 Ukraine 12 Venezuela 6 TOTAL WS 690 Data as of February 2017 18

WOMEN SECRET STORES 19

GRUPO CORTEFIEL S ON LINE STORES spf.com cortefiel.com womensecret.com pedrodelhierro.com fiftyfactory.com 20

www.grupocortefiel.com