Q4/Full Year 2024 Results

Sound sales growth and margin expansion in 2024

Smartglasses as a new driver, Nuance off to a promising start

• Group revenue at constant exchange rates¹ +9.2% in Q4 and +6.0% in the FY

• North America accelerating in Q4, with SGH positive; sound EMEA driven by both PS and DTC

• Ray-Ban Meta at 2 million units sold since the launch, with strong acceleration in 2024
• Nuance Audio cleared, starting off in the US OTC and Europe
• Stellest continuing to be strong in China, up approx. 50% in revenue in Q4

• Adjusted² operating margin at 17.0% at constant exchange rates¹, advancing by 50bps versus 2023

• Strong free cash flow⁵ at Euro 2.4 billion in the FY

• Dividend proposed at Euro 3.95 per share, with scrip dividend option

• SBTi validated greenhouse gas emission reduction targets 2030 for scopes 1, 2 and 3