Q2/H1 2025 Results

Sound revenue growth at 7.3% in Q2 and H1

AI glasses speeding up further

• Group’s revenue growing 7.3% in both Q2 and H1 (constant exchange rates¹)

• North America accelerating in PS, DTC keeping a solid growth pace

• EMEA confirming the strong performance of PS and DTC, as the best region for the Group
• AI glasses Ray-Ban Meta up more than 200% in sales in H1
• AI glasses Oakley Meta on the blocks, successful launch of the 50^th anniversary edition
• Nuance Audio already rolled out in 10k doors across North America and Europe

• Adjusted² operating margin stable at 18.3% in H1 (constant exchange rates¹)

• Sound free cash flow⁵ generation at Euro 951 million
• Acquisition of Optegra clinics marking a further step into the new MedTech journey