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Accelerating toward 2020Amer Sports CMD 2015 // Heikki Takala, President & CEO

What we will do today

• Confirm that our strategies are working

• Present a new strategic glidepath and building blocks for

acceleration toward 2020

• Provide logic for the new financial targets and demonstrate the

attractiveness of the acceleration

Amer Sports CMD 20152

High level performanceassessment

We have turned around the company

0.0 %

2.0 %

4.0 %

6.0 %

8.0 %

10.0 %

1 200m

1 400m

1 600m

1 800m

2 000m

2 200m

2 400m

2 600m

2 800m

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015*

Net Sales EBIT Margin

Net Sales (EUR) EBIT Margin

*Vara consensus

• Balance sheet step-

changed (Net Debt /

EBITDA 2x)


Strategic building blocks: What has worked


Achievement 2009 2015

Apparel & Footwear growth 300m x3

Arc'teryx growth x4

Salomon growth & transformation ~50% softgoodsSales x2

~70% softgoods

Winter Sports Equipment gross margin ~40% ~46%

Suunto turnaround EBIT negativeSales x2

EBIT-% ~10

Precor turnaround EBIT negativeSales x2

EBIT-% ~10

Mavic Low EBITSales x1.5

EBIT-% ~10

Wilson Team Sports Low EBITSales x2

EBIT-% ~10

B2C growth ~6% of the Group

China growth x7

Connected devices growth ~7% of the Group

What has been challenging

• Winter Sports Equipment and Individual Ball Sports:

both restructured, now solid progress

• Russia and Latin America

• Cash flow target not achieved due to high working capital

• Small brands, small categories: Bonfire, Nikita – divested


Conclusions

1. Our strategies are working

– Core business is healthy

– Acceleration has been on-going in selected growth areas

2. We are no longer a turn-around company

– However, we treat any under-performing unit as such

3. We are well equipped for further acceleration


We follow our Sustainable Growth Model

Amer Sports Sustainable Growth Model (SGM)

1. Annual topline growth

– Both organic and via strategic acquisitions

2. Annual profit improvement

– Profit can come from growth or through cost cutting. We prefer growth with cost discipline.

3. Investing for the future

– To sustain future growth, we invest every year back into the business

4. Continuous renewal

– Toward faster growth, higher profitability, better asset efficiency


Amer Sports portfolio logic

• Amer Sports is

– A balanced sports equipment and apparel & footwear company, with a unique model of

leveraging our authentic brands

– An integrated company: portfolio composition is determined by synergies and Amer

Sports being the “right owner”: Every part of the Group contributes to the synergies.

• “Right owner” = we develop our units’ performance relatively better vs.

competition and/or we create competitive advantage through the portfolio

• Our ambition: “on the podium” in the chosen Where to Play areas


Now we accelerate

Toward 2020

• 2010 glidepath at 5% growth rate until 2020 would take us to

– EUR ~3 billion sales like for like

– 10% EBIT margin

• However, we now focus on acceleration

– Platforms and capabilities largely in place, scaling up provides attractive returns

– Keeping momentum in the “core”, accelerating in selected areas


13

Topic Glidepath to 2015/16 Acceleration to 20202009

Apparel & Footwear

USA

China

Connected Devices & Services

B2C

€ 300 m

1.

2.

3.

4.

5.

€ ~1000 m € ~1500 m

$ 700 m $ ~1000 m $ ~1500 m

€ 13 m € ~100 m € ~200 m

€ 20 m € ~200 m € ~400+ m

€ 0 m € ~300 m € ~600+ m

Net impact: € ~900-1000 m (net of duplication)

We have chosen 5 acceleration areas


Apparel and Footwear: Toward EUR 1.5 billion

Why this choice:

• Market attractive, two strong brands in the portfolio, repeatable model built

Building blocks:

• Arc’teryx in full acceleration across consumer segments and channels

• Salomon

– Footwear: global expansion, new consumer segments

– Apparel: profitable growth in core segments

• Other supporting growth drivers: B2C, Mavic, and Wilson


Arc’teryx: In full acceleration

Amer Sports CMD 201515 Amer Sports CMD 201515

Salomon: Growing in and from the core


Wilson & Mavic: Adding more


USA: Toward USD 1.5 billion

Why this choice:

• World’s largest market, dynamic, Amer Sports scalable model in place

Building blocks:

• Apparel and Footwear

• Focused Ball Sports acceleration, especially Baseball

• Acceleration in Fitness

• New scalable Go to Market model, including B2C


China: Toward 200 MEUR

Why this choice:

• Dynamic, growing sports and outdoor market; Amer Sports’

capability built; profitable business model

Building blocks:

• Disproportionate growth in Apparel, Footwear, Sports Instruments and Fitness

• Disciplined expansion in key cities

• Own retail and e-commerce

• Significant capability investment


B2C: Toward 400+ MEUR

Why this choice:

• High growth, higher margin, proven business model

Building blocks:

• Own retail: 260+ stores, annual net opening of 20+ stores

• E-commerce: 60+ stores with on-going expansion, driving traffic and conversion

through Amer Sports Digital Ecosystem

• Apparel and Footwear the main drivers for B2C (20% of softgoods sales)

• Piloting B2C in other categories enabled by customization


Examples of Arc’teryx store expansion in H2


LONDONPiccadilly

NYCSoho

SHANGHAIHong Kong Square

Example: Consumer engagement through customization


Connected Devices & Services: Toward 600+ MEUR

Why this choice:

• Major market trend; unique Amer Sports Digital Ecosystem in place

Building blocks:

• Suunto and Precor: strong pipeline of product launches and digital services

• Sports Tracker: integration and scale-up for cross-selling

• New concepts: digital basketball & football, sensor integration

• Amer Sports Connected Digital Ecosystem ramp-up


Amer Sports Connected Digital Ecosystem, now in full acceleration


Summary

Summary

What stays the same:

• Sustainable Growth Model, portfolio logic, and strategic priorities

What changes:

• Higher growth ambition and new glidepath time horizon

• Acceleration of the prioritized building blocks

• Acquisitions now part of the growth model

Rationale:

• We have the track-record, and we have tremendous upside potential for further growth at attractive returns


Prioritized, sequenced program continues


• Sustainable Growth Model

• Integration

• Acquisition readiness

• On-going renewal and

acceleration

Net sales ≥3.5 BEUR,

improving EBIT-%

Continuous portfolio

transformation toward:

• Faster growth

• Higher profitability

• Asset efficiency

~2010 – 2013 ~2014 – 2015 ~2016 – 2020

• New strategy

• Transformation from

Hardgoods to ”Hybrid”

• Drive organic growth

• Operational excellence

Net sales

1.5 BEUR,

EBIT-% 4%

Net sales 2+ BEUR,

EBIT-% 7%

Net sales ~2.5 BEUR,

EBIT-% toward 10%

DisclaimerStatements in this presentation, which are not historical facts, such as expectations, anticipations, beliefs and estimates,

are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995.Such statements involve risks and uncertainties which may cause actual results to materially differ from those expressedin such forward-looking statements.Amer Sports assumes no responsibility to update any of the forward-looking statements contained herein.No representation or warranty, express or implied, is made or given by or on behalf of Amer Sports or its employees or

any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation.

www.amersports.com


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