Q1 2015 and FY 2013/14

Frankfurt/Main, April 16, 2015

Analysts´ Conference April 2015

Welcome.

- 02 -

The company – structure and strategy

The shares

FY 2013/14 at a glance

Q1 2015 at a glance

Forecast 2015

Financial calendar

Content

- 03 -

• Fashion manufacturer – focus on menswear

• Sales of EUR 257 million (2013/14)

• 2,200 employees

• Founded 1919

• Stock Exchange: listed since 1987

• Stock Market Segment: Prime Standard

The company

- 04 -

(Status FY 2013/14)

The brands

®

9%

27%

64%

Jeans & Workwear

Premium Brands

Men‘s & Sportswear

• Coverage of all

price segments in

the upper menswear

brand business

• Lifestyle brands and

product specialists

• Premium segment

accounts for

growing share

- 05 -

BALDESSARINI PIERRE CARDIN OTTO KERN ELSBACH

Germany | Austria | Poland | Czech Republic | Slovakia | Hungary | Lithuania | Latvia

Ahlers retail stores

- 06 -

Retail expansion - Elsbach Denim Library concept

• Elsbach

The new style library for the man

• Denim Library

Multi-brand concept designed in the styleof a British library

- 07 -

• The brands

Differentiated by location - Big city mix: Baldessarini, Otto Kern, Pierre Cardin - Commercial mix: Pierre Cardin, Otto Kern, Pioneer

• The product range

- Jeans, shirts, knitwear, jackets, casual sports jackets - Casual menswear

- 08 -

Retail expansion - Elsbach Denim Library concept

• Opened in September 2014

and April 2015, respectively

• Further stores in large and mid-sized

German cities to follow

• The location

Hamburg, Kaufmannshaus Bleichenbrücke Potsdam, Brandenburger Straße

- 09 -

Retail expansion - Elsbach Denim Library concept

Retail expansion 2014/15

- 10 -

• Retail revenues Q1: +3.9%

- Contribution to total revenues 10.2% (previous year 9.0%)

• Openings 2015

- Potsdam (Elsbach Denim Library) - Warsaw (Pierre Cardin) - Further locations in Germany and

Europe in the selection process

• Existing online shops

- Pionier Workwear

- Baldessarini

- Otto Kern

• Presence of Ahlers brands on

various multi-brand platforms

• 35 percent growth in FY 2014

E-commerce

- 11 -

In % of total sales(previous year)

Germany

55% (54%)

Western Europe

24% (25%)

Central/

Eastern Europe,

Misc.

21% (21%)

• Ahlers serves all upscale specialist retailers

• Strong market position in Eastern Europe

• Synergies in international distribution

• Building up business in Asia

(Status FY 2013/14)

The markets

55%

24%

21%

- 12 -

(Status 2014, basis pieces)

• High procurement expertise for all important

products and procurement markets

• Own production facilities in Poland and Sri Lanka

• Cut-make-trim in Eastern Europe and Far East

• Far East accounts for 52 percent

Procurement

Full packageservice

Own production

Cut-make-trim33%

33%

34%

- 13 -

The strategy

• Grow the Pierre Cardin and – Strengthening and further expansion of the Premium brands

Baldessarini premium brands – Clearly structured brand portfolio opens up synergies

– Turn Pioneer into an integrated brand

• Grow the business – Additional number of shop-in-shops with integrated product ranges

with specialist retailers – Optimisation of the supply processes

• Grow the own – Multi-brand concept Elsbach Denim Library

Retail business – Mono-brand concepts Pierre Cardin and Baldessarini

• Grow the e-commerce activities – Baldessarini, Otto Kern, Pionier Workwear, Marketplaces

• Increase the export share – Building up distribution structures in Europe and Asia

• Cost leadership – Procurement expertise for all key products and regions

• Capacity to make acquisitions – Brand or Retail

- 14 -

WTW GmbH

Free float

Legacy

Jan A. Ahlers

Common shares

Free float

WTW GmbH

Legacy

Jan A. Ahlers

Preferred shares

• Dr. Stella A. Ahlers holds

52 percent of all shares through

WTW GmbH/KG and others

• Family-managed in the third generation

by Dr. Stella A. Ahlers

• Traditionally high payout ratios,

solid financial structure

(As at November 30, 2014)

The shares // SHAREHOLDERS

- 15 -

76.3 %

0.3 %

23.4 %

79.2 %

0.1 %

20.7 %

FY 2013/14 at a glance

- 16 -

• Ahlers increases consolidated sales by 4.2 percent in FY 2013/14

• Double-digit growth for Baldessarini and e-commerce,

good single-digit growth at Pierre Cardin and Pioneer Authentic Jeans

• EBIT before special effects up 46 percent on previous year

• 8 percent increase in consolidated net income after taxes

• Solid equity ratio of 58 percent

The fiscal year 2013/14 at a glance

- 17 -

• 5.4 percent sales growth of the premium brands

in full year 2013/14

• 64.3 percent contribution to total sales revenues

(previous year: 63.6 percent)

• Double-digit sales growth at Baldessarini

• 36 percent increase in the result

BALDESSARINI AND PIERRE CARDIN REPORT STRONG SALES GROWTH

- 18 -

Segment performance // PREMIUM BRANDS

BALDESSARINI

• 16 percent growth in 2014

• Showroom openings

in Paris and Milan

• New shop-in-shops

at Alsterhaus Hamburg,

KaDeWe Berlin and BHV Paris

• New management and

expanded creative team

• Good sales trend

in e-commerce

- 19 -

Segment performance // PREMIUM BRANDS

PIERRE CARDIN

• 4.6 percent growth in 2014 in

difficult market environment

• New ”modular system“ for

suits very successful

• Two-strong management

team installed

• New store and shop concept

“Appartement Français“

• New licenses for Spain,

France and Belgium

- 20 -

Segment performance // PREMIUM BRANDS

Pierre Cardin booth with new ”Appartement Français“ lifestyle concept at Panorama Berlin.

- 21 -

Segment performance // PREMIUM BRANDS

- 22 -

Segment performance // PREMIUM BRANDS

EUR million 2013/14 2012/13 Change in % Sales* 165.3 156.8 5.4Germany 78.9 73.6 7.2Abroad 86.4 83.2 3.8Segment result** 9.9 7.3 35.6

* incl. “others” EUR 0.3 million (previous year EUR 0.2 million)** before special effects, incl. income from asset sales “others” EUR 0.5 million (previous year: EUR 0.5 million)

• 6.3 percent increase in sales

• Pioneer sales up 6.7 percent

• 27% of total sales (previous year 26%)

• Optimisation of collections and

processes at Pionier Workwear.

Sales organisation strengthened

• Stable segment result

- 23 -

Segment performance // JEANS & WORKWEAR

- 24 -

Segment performance // JEANS & WORKWEAR

EUR million 2013/14 2012/13 Change in % Sales 69.4 65.3 6.3Germany 51.4 48.4 6.2Abroad 18.0 16.9 6.5Segment result* 4.9 4.9 0.0

* before special effects

PIONEER AND GIN TONIC UNDER SINGLE MANAGEMENT

• Merger of the sales organisations

of Pioneer and Gin Tonic

• Improved results at Jupiter

• Decline in sales primarily attributable

to the closure of Gin Tonic stores

- 25 -

Segment performance // MEN´S & SPORTSWEAR

- 26 -

Segment performance // MEN´S & SPORTSWEAR

EUR million 2013/14 2012/13 Change in % Sales 22.4 24.6 -8.9Germany 10.5 11.9 -17.3Abroad 11.9 12.7 -6.3Segment result* -3.1 -4.2 26.2

* before special effects

Income statement for full year 2014

- 27 -

EUR million 2013/14 2012/13 Change in %

Sales revenues 257.1 246.7 4.2 Gross profit 128.3 124.3 3.2 in % of sales revenues 49.9 50.4 Personnel expenses* -53.2 -52.7 -0.9Balance of other expenses/income* -58.3 -58.3 0.0EBITDA* 16.8 13.3 26.3Depreciation and amortisation* -5.1 -5.3 3.8EBIT* 11.7 8.0 46.3Special effects -2.6 -0.7 < -100 Financial result -0.7 -0.6 -16.7Earnings before income taxes 8.4 6.7 25.4Income taxes -2.4 -1.1 < -100Consolidated net income 6.0 5.6 8.0* before special effects

Balance sheet indicators

- 28 -

EUR million as of November, 30 2014 2013

Total assets 190.4 182.4 Equity 110.3 109.3 Equity ratio in % 57.9 59.9

Net working capital 95.5 91.7 Net investments 3.7 4.3

Free cash flow

- 29 -

EUR million 2013/14 2012/13 Change in %

Consolidated net income 6.0 5.6 7.1Depreciation, amortisation, and impairment losses 5.4 5.3 1.9 Change in net working capital -3.9 -7.9 50.6Change in current provisions 0.9 -0.5 n.a.Other changes* 2.5 -1.0 n.a.Cash flow from operating activities 10.9 1.5 > 100 Net investments -3.7 -4.3 14.0Effects of changes in the scope of consolidation and exchange rates 0.0 -0.2 n.a.Free cash flow before financing activity 7.2 -3.0 n.a.Additions to (+), repayment of (-) non-current liabilities -1.8 2.5 n.a.Dividend payments -6.5 -8.6 24.4Free cash flow -1.1 -9.1 87.9* Other non-cash expenses and income: EUR 2.7 million (previous year: EUR -0.3 million), change in non-current provisions and other liabilities: EUR 0.7 million (previous year: EUR -0.8 million)..

Employee structure

Germany

Poland

AustriaEastern

Europe/

Other

Sri Lanka

643

540

867

14258

- 30 -

Group employee structure as of November 30

2014 2013Germany 643 632 Poland 540 530Sri Lanka 867 852Eastern Europe / Other 142 124Austria 58 63Total 2,250 2,201

- 31 -

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Q1 2015 at a glance

• 7 percent decline in sales revenues due to early deliveries in the previous year

and delayed and reduced shipments to Russia

• Increase in own Retail sales and solid development in Western Europe and Poland

• EBIT and consolidated net income after taxes declined due to lower sales revenues

• Forecast remains unchanged: sales revenues and earnings should be stable

or slightly lower in FY 2014/15

Q1 2015 at a glance

- 33 -

Sales revenues by segments // Q1 2015

EUR million Q1 2014/15 Q1 2013/14 Change in %

Premium Brands * 45.8 49.1 -6.7Jeans & Workwear 15.7 17.6 -10.8Men‘s & Sportswear 6.2 6.3 -1.6Total 67.7 73.0 -7.3

* incl. “others” EUR 0.1 million (previous year EUR 0.1 million)

• Russian business primarily influences the Premium segment

• Sales revenues of Premium segment excl. Russia: +1.6 percent

• Lower sales revenues in Jeans & Workwear segment due to reduced

purchases by the last major private label customer

• Men´s & Sportswear reports increased sales for Jupiter and Retail-

related decline in sales for Gin Tonic

- 34 -

EBIT before special effects by segments // Q1 2015

• Earnings influenced by lower sales revenues

• Cost savings at Gin Tonic

• Increased costs in Premium segment due to new sales territories

EUR million Q1 2014/15 Q1 2013/14 Change in %

Premium Brands 4.4 6.2 -29.0Jeans & Workwear 1.0 1.8 -44.4Men‘s & Sportswear -0.2 -0.5 60.0Total 5.2 7.5 -30.7

- 35 -

Income statement // Q1 2015

• Earnings influenced by revenue-related effects

• Stable operating expenses

• No extraordinary factors

EUR million Q1 2014/15 Q1 2013/14 Change in %

Sales 67.7 73.0 -7.3Gross profit 35.4 37.8 -6.3 in % of sales 52.3 51.8 Personnel expenses* -13.7 -13.3 -3.0Balance of other operating expenses/income* -15.2 -15.8 3.8EBITDA* 6.5 8.7 -25.3Depreciation and amortisation -1.3 -1.2 -8.3EBIT* 5.2 7.5 -30.7Special effects -0.1 -0.3 Financial result -0.1 -0.2 50.0Income before taxes 5.0 7.0 -28.6Income taxes -1.5 -2.1 28.6Consolidated net income 3.5 4.9 -28.6* before special effects

- 36 -

• Solid equity ratio of 58 percent

• Increased receivables due to additional business in France and Spain

• Increased inventories due to slack winter season and delayed deliveries to Russia

Balance sheet indicators

- 37 -

EUR million as of February 28, 2015 2014 Change in %

Total assets 197.0 188.6 4.5Equity 114.7 114.1 0.5 Equity ratio in % 58.2 60.5

Net working capital 109.9 104.4 5.3Net investments 1.3 1.3 0.0

Forecast 2015

- 38 -

• Sales influenced by:

– additional sales territories in France, Spain, Belgium

– Russia and Ukraine

– declining sales with last large private label customer

• Higher sales expected for Premium segment, declining sales

in Jeans & Workwear and Men´s & Sportswear segments

• Total sales revenues stable to slightly lower

• Earnings influenced by:

– decline in special effects = reduced expenses

– lower operating expenses at Gin Tonic

– increased operating expenses for new sales territories

• Stable to declining earnings

• Forecast subject to uncertainty because of economic influences

Forecast 2015

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- 40 -

DATES

Interim report Q1 2014/15 April 14, 2015 Analysts’ conference in Frankfurt am Main April 16, 2015 Annual Shareholders’ Meeting in Düsseldorf May 7, 2015 Half year report 2014/15 July 14, 2015 Interim report Q3 2014/15 October 14, 2015 Analysts’ conference in Frankfurt am Main October 21, 2015

CONTACT

Michael Zielke Phone: +49 (0) 5221 / 979 - 211

E-mail investor.relations@ahlers-ag.com

Internet www.ahlers-ag.com

This presentation of AHLERS AG does not represent an offer to sell securities of AHLERS AG and is not soliciting an offer to buy securities of AHLERS AG

in the USA or in any other country in which such an offer or solicitation is prohibited by law. AHLERS AG assumes no liability or guarantee for the accuracy

or completeness of the information or other content presented in this presentation.

This presentation contains forward-looking statements that do not describe past events, but reflect future assumptions and expectations. Forward-looking

statements are based on forecasts, estimates and projections on the basis of information presently available to the management of the AHLERS Group.

Such information is subject to risks and uncertainties which could cause actual results to differ materially from those projected. Many of these risks and

uncertainties are based on factors that cannot by influenced or precisely assessed by the AHLERS Group. These factors include, but are not limited to,

changes with regard to the legal framework, the future market and economic situation, the conduct of other market participants and the ability to

successfully implement corporate goals. The users of this presentation are cautioned not to place undue reliance on these forward-looking statements,

which speak only as of the date they are made. The AHLERS Group undertakes no obligation to publicly update or revise any forward-looking statements,

whether as a result of new information, future events, or revised management forecasts.

Disclaimer

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Q1 2015 and FY 2013/14

Frankfurt/Main, April 16, 2015

Analysts´ Conference April 2015

Thank You.

AHLERS AGINVESTOR RELATIONSELVERDISSER STR. 313

32052 HERFORDGERMANY

INVESTOR.RELATIONS@AHLERS-AG.COMWWW.AHLERS-AG.COM

PHONE +49 5221-979-211TELEFAX +49 5221-72538