COMBINED SHAREHOLDERS’

MEETING

DECEMBER 6, 2016

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CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2016

REVIEW OF BUSINESS GROUPS

CHRISTIAN DIOR PARENT COMPANY

CONTENTS

CONSOLIDATED FINANCIAL HIGHLIGHTS

2014 / 2015

35.1

2015 / 2016 * With respect to figures for the prior fiscal year ended June 30, 2015** Excluding the impact of the exceptional distributions in kind of Hermès

shares in December 2014*** Before tax and interest paid

Consolidated revenue (EUR billions)

Change *

Main aggregates (EUR billions)

June 30, 2016

+8.2%38.0Revenue

6.8Profit from recurring operations +7.9%

Net profit, Group share 1.6

8.6Cash from operations

before changes in working capital ***

+12.5%

+1.2

Currencyimpact

+3.3%

+0.1

Impact ofchanges in

scope

+0.3%

Organicgrowth

+4.6%

+1.6

38.0

Change atactual rates

+8.2%

+18.5%**

CONSOLIDATED INCOME STATEMENT

(15,190)Marketing and selling expenses (13,828)24,890Gross margin 22,774

(2,907)General and administrative expenses (2,647)(1)Income (loss) from investments in joint ventures and associates (3)

(196)Other operating income and expenses (298)

(2,065)Income taxes (2,518)

4,164 Net profit before minority interests 6,165

37,968Revenue

June 30, 2016 June 30, 2015

35,081

Net financial income (expense) 2,685(367)

Profit from recurring operations 6,792 6,296

6,596Operating profit 5,998

2,595Minority interests 3,787

Net profit, Group share 1,569 2,378

(EUR millions)

CONSOLIDATED FREE CASH FLOW

JUNE 30, 2016 (EUR millions)

3,659

FREECASH FLOW (*)

8,566

CASH FROM OPERATIONS BEFORE CHANGES IN

WORKING CAPITAL

(*) Before financial investments, transactions relating to equity and financing activities

(88)

Interest

(1,998)

Operatingtaxes

(579)

Change inworking capital

(2,242)

Operatinginvestments

CONSOLIDATED FINANCIAL STRUCTUREJUNE 30, 2016

Liabilities and equityAssets

€62.9bn €62.9bn

Non-current assets

Equity

70%

45%

Inventories

Non-currentliabilities

18%

34%

Other current assets

Currentliabilities

12%21%

24% 28%

30.3

7.9

CONSOLIDATED EQUITY AND NET FINANCIAL DEBT

(EUR billions)

JUNE 30, 2015

26%

JUNE 30, 2014 JUNE 30, 2016

EQUITY NET FINANCIAL DEBT GEARING

26.3

7.5

28.1

6.8

CONSOLIDATED REVENUE BY BUSINESS GROUP AS % OF TOTAL REVENUE AS OF JUNE 30, 2016 (AND JUNE 30, 2015)

Note: eliminations and other activities = -1% of revenue

Watches and Jewelry

9%(9%)

5%(5%)

Christian Dior Couture

Selective Retailing

30%(30%)

13%(12%)

Perfumes and Cosmetics

Wines and Spirits

12%(12%)

Fashion and Leather Goods

32%(33%)

CONSOLIDATED REVENUE BY GEOGRAPHIC REGION OF DELIVERY AS % OF TOTAL REVENUE AS OF JUNE 30, 2016 (AND JUNE 30, 2015)

United States

26%(24%)

France

10%(10%)

Europe(excl. France)

18%(19%)

Asia(excl. Japan)

27%(28%)

Japan

7%(7%)

Other markets

12%(12%)

CONSOLIDATED REVENUE BY INVOICING CURRENCY AS % OF TOTAL REVENUE AS OF JUNE 30, 2016 (AND JUNE 30, 2015)

US dollar

31%(29%)

Euro

23%(23%)

Other currencies

32%(33%)

HK dollar

7%(8%)

Yen

7%(7%)

CHRISTIAN DIOR COUTURE

Revenue(EUR millions)

1,765

1,854

June 30,2015

June 30,2016

Retail sales revenue: up 3% at constant exchange rates.

Lower operating margin mainly due to the increase indepreciation and amortization and expenses relatedto investments

Continuation of a sustained targeted investmentpolicy throughout the world

Up 2% at constant exchange rates

226

209

June 30,2015

June 30,2016

Profit from recurring operations(EUR millions)

-8%

Success of Ready-to-Wear, Accessories and Jewelry

House of Dior, New Bond Street,London

CHAMPAGNE AND WINES

WINES AND SPIRITS

4,226

4,729

June 30,2015

June 30,2016

Revenue(EUR millions)

Strong revenue for the fiscal year:

Up 9% at constant structure and exchange rates

Continued strategy of value and innovation for allchampagne and wine brands

1,168

1,446

June 30,2015

June 30,2016 +24%

Profit from recurring operations(EUR millions)

COGNAC AND SPIRITS

After a 2014/2015 fiscal year adversely affected by Chinese distributors’ destocking, revenue gradually recovering in the region

Robust performance from prestige vintages

Greater presence in historic champagne markets

Strong growth momentum in the United States, theCaribbean, Africa, and the travel retail market

Ambitious plan to expand Hennessy’s manufacturing capacity

FASHION AND LEATHER GOODS

Loro Piana’s Gift of Kings collection performedwell, and the brand opened a flagship store onAvenue Montaigne in Paris

Louis Vuitton:- strong creative momentum, illustrated by

major innovations across its various businesslines

- continued development of iconic lines- success of more recent designs

Revenue (EUR millions)

Up 2% at constant structure and exchange rates

11,731

12,321

June 30,2015

June 30,2016

Profit from recurring operations(EUR millions)

3,363

3,474

June 30,2015

June 30,2016 +3%

Strong growth achieved by Fendi and Célinedriven by the development of all their productcategories

Continued repositioning of Marc Jacobs

Agreement announced for sale of Donna Karan

PERFUMES AND COSMETICS

Note: As of 2016, Kendo’s activities, which were previously presented under the Selective Retailing business group, are now presented under Perfumes and Cosmetics. Comparative data have been restated to reflect this change, the impact of which is not significant.

PARFUMS CHRISTIAN DIOR GUERLAIN

Strong revenue growth at Benefit Cosmetics, Make Up For Ever and Fresh

OTHER BRANDS

Parfums Christian Dior’s excellent momentumfueled by the vitality of iconic fragrances J’adoreand Miss Dior, and by the exceptional success ofSauvage

New make-up collection inspired by fragrance La Petite Robe Noire and continued success of the Abeille Royale and Orchidée Impériale skincare lines

Up 8% at constant structure and exchange rates

4,347

4,780

June 30,2015

June 30,2016

Revenue(EUR millions)

456

547

June 30,2015

June 30,2016 +20%

Profit from recurring operations(EUR millions)

381

432

June 30,2015

June 30,2016

JEWELRY

WATCHES AND JEWELRY

Bvlgari- Robust sales growth in China and the Middle East- Expansion of the B.zero1 and Diva lines- London store reopened

WATCHES

Amid a mixed global market, TAG Heuer’s timelyrefocus on its core range and success of itssmartwatch

Up 6% at constant structure and exchange rates

3,068

3,365

June 30,2015

June 30,2016

Revenue(EUR millions)

Profit from recurring operations(EUR millions)

Chaumet: development in Asia and Middle Eastboosted, particularly thanks to success of Joséphineand Lien product lines

Hublot: the brand’s creativity and innovationcapacity illustrated by Big Bang Unico Sapphire,Meca-10 and Classic Fusion Berluti models

+13%

SELECTIVE RETAILING

Note: As of 2016, Kendo’s activities, which were previously presented under the Selective Retailing business group, are now presented under Perfumes and Cosmetics. Comparative data have been restated to reflect this change, the impact of which is not significant.

Unfavorable tourism situation in Asia,particularly in Macao and Hong Kong

Excellent momentum throughout the world with marketshare gains

DFS SEPHORA

Up 5% at constant structure and exchange rates

10,423

11,398

June 30,2015

June 30,2016

Revenue(EUR millions)

922

917

June 30,2015

June 30,2016 -1%

Profit from recurring operations(EUR millions)

Development of new marketing andcustomer loyalty concepts

Sustained pace of network expansion: 77 stores opened during the fiscal year(1,661 stores as of June 30, 2016)

Acceleration and expansion of an “omni-channel” offer

APPROPRIATION OF CHRISTIAN DIOR’S NET PROFIT FOR THE FISCAL YEAR ENDED JUNE 30, 2016 (4TH RESOLUTION)

Net profit

Proposed gross cash dividend for the fiscal year

Distributable earnings€665m €2,760m

€3.55 per share

Interim dividend paid on April 21, 2016: €1.35 per share

Final dividend: €2.20 per share

Payment of final dividend: December 13, 2016

€2.90

€3.10 (a)

€3.20 (a)

€3.55 (b)

April 30,2013

June 30,2014

June 30,2015

June 30,2016

CHANGE IN GROSS CASH DIVIDEND PER SHARE

ANNUAL DIVIDEND GROWTH IN 2016: 11%

(a) Excluding exceptional dividends in kind in the form of Hermès shares(b) Proposed to the Shareholders’ Meeting of December 6, 2016

COMBINED SHAREHOLDERS’

MEETING

DECEMBER 6, 2016