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Reigniting profitable growth

Heikki Takala President and CEO

Disclaimer

Statements 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 expressed in 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.

• Brief introduction and background• Financial performance in a nutshell• New financial targets• Group development priorities: cornerstones• Phasing of Group development in the coming years• Summary• First round of Q&A• Finance overview • Business Segment / Area presentations

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Agenda

24%

20%

14%

13%

12 %

7 %6% 4%

Winter Sports EquipmentApparel and Footwear

Racquet Sports

Fitness

Team Sports

Cycling

Sports Instruments

Golf

Amer Sports in brief

• Revenue EUR ~1.5 billion (2009)• One of the leading sports equipment

companies in the world– #1 or #2 in many sports equipment

categories

• Strong brand portfolio• Positioned to benefit from long term

trends

Net sales by business (2009)

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Financial performance in 2005-2009

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• Lack of growth• Profitability below targets• Balance sheet strengthened in 2009

Current year – improvement under way

• Clear improvement in H1/2010 compared to H1/2009 • Net sales EUR 690.1 million (640.0), +5% in local currencies

– Sales up particularly in Apparel and Footwear, Team Sports and Golf– EMEA and APAC both +9%

• EBIT EUR -7.4 million (-36.3), up 28.9 million– Higher gross margins, increased sales volumes

• Pre-orders up in Winter Sports Equipment and Apparel and Footwear• Amer Sports expects its 2010 net sales to be approximately EUR 1.7 billion and

EBIT margin to improve to the mid-single-digit level

6Change % in local currencies

Time to reignite profitable growth

1. Current year lays the foundation to build on2. Glide paths and building blocks in place for Top line and Bottom line

growth

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New financial targets to drive profitable growth

• Targets aligned with the strategy• Increased focus on cash flow and balance sheet structure• Drive both profitable and cash flow effective growth

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Dividend and share price

performance

Growth

Profitability

Cash flow

Capital structure

New long-term financial targets

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Delivering organic, currency-neutral annual growth of 5%.

EBIT of at least 10% of net salesAnnual free cash flow equal to net profit.

Year end net debt / EBITDA ratio of 3 or less.

Towards big brands, big categories, big countries

Group development priorities• Clear portfolio roles and synergies, integrated

company• Grow faster in softgoods• Win with consumers• Win in go-to-market• Operational excellence

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Clear portfolio roles and synergies, integrated company

Every part of the Group has a clear role, targets and action plan

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Business area Objective Actions

Apparel and Footwear Further accelerating growth• Expanding commercial footprint• Entering new segments and categories• Category based operation

Winter Sports Equipment

To sustainable profitability, irrespective of weather conditions

• Operational excellence • Growth in selected areas

Ball Sports Focus on profitable growth • Growth from softgoods, DeMarini,distribution

Fitness Back to profitability• Improvement through topline growth inEMEA, APAC, NA consumer, networked fitness

Cycling Improve profitability, continue organic growth

• Expanding wheel/tyre systems and rider equipment offering

Sports Instruments Improve profitability, back to the organic growth path

• Focusing of product portfolio, growth in selected areas

Driving scale and synergy

• Most synergies in Ball Sports, Apparel and Footwear and Winter Sports Equipment– Sporting goods retail, Asian sourcing, softgoods, go-to-market– R&D, marketing, manufacturing

• Distinct characteristics in Precor, Mavic and Suunto– Distinct customers, channels, production, sourcing; different business models– Synergies and sharing where it makes sense

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Pragmatic approach to synergies

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Synergistic businessesA&FW, Ball Sports, WSE

Full scale & synergy drive in the Group’s integration and platform development efforts,

including softgoods growth. One company, focus of the development.

First focus on improving profitability; synergy where it

makes sense

Sales & Channel / regions & countries

Supply chain and enabling functions

Portfolio businesses

Focus on profitable organic growth

• Every business has to deliver the assigned targets• Focus on internal improvement and organic growth• Acquisitions/divestments remain in the toolbox

• Capabilities, technologies etc. for accelerated growth• Solutions for underperforming businesses

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Grow faster in softgoods

Big growth potential in softgoods

• Overall an attractive, growing market

• We have a track record in Apparel and Footwear

• We can accelerate growth of our brands with softgoods: Salomon, Arc’teryx, Wilson

• Other brands offer further opportunities

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0

50

100

150

200

250

300

350

2006 2007 2008 2009 H1/2010

H2H1

Apparel and Footwear net sales 2006−H1/2010

Organizing for softgoods growth

• Move to category based development across brands to build scale– R&D, product line management,

sourcing & manufacturing• Strengthen resources and capabilities

significantly

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Win withconsumers

Win with consumers

• Set up regional Consumer Operations to better understand and deliver against local consumer needs

• Build a Group level Marketing Function for systematic consumer understanding and Brand Management capabilities

• Win with consumers

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Win with consumersWin in go-to-market

Build winning commercial fundamentals

• Increase commercial footprint: number and quality of doors– Major distribution / scale opportunities, already with current products– Consumer understanding and locally adapted products increase

potential further– Deeper collaboration with customers– Clearly defined KPIs

• Emerging markets growth• Business to consumer

– Own retail to drive awareness, trial, brand equity and sales– e-Commerce

• Fill critical roles and strengthen capabilities

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Operational excellence

Systematic improvement every day

• Gross margin development– Gross profit percentage up by 4 points H1/2010 vs. H1/2009

• Progress in supply chain development– Customer service improvement– Further DSI efficiency– Leveraging scale in logistics, IT and sourcing

• Functional excellence with clear KPI’s across all areas: tracking and performance management

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Major operational intervention in Winter Sports Equipment

• Objective: reduce weather dependency by significantly lowering the break-even point

• Focus program, covering all elements of the value chain: R&D, operations, supply, logistics

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Phasing of Group development

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Clarify future direction & deliver the year

Profitability, growth acceleration

Build critical capabilities, allocate resources and reignite growth

• Clarify priorities, set direction

• Continue to drive profit recovery, deliver the year

• Continue the work on operational effiency & margins improvement

• Build capabilities:• Softgoods• Category based development• Go-to-market

• Drive organic growth: Softgoods, Russia, China, BtoC, etc.

• Operational excellence, WSE efficiency & profitability

• Continued growth in categories and countries

• Big brands, big countries, big categories

~2010

~2011...2012

~2013-

Prioritized, sequenced program

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Summary

Towards big brands, big categories, big countries

• We have clear portfolio roles and approach to synergies

• We will further accelerate growth in softgoods• We are organizing for better consumer

understanding• We will build our commercial fundamentals to win

in go-to-market• We continue driving and further tightening our

operational excellence

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