Charenton-le-Pont, France (May 6, 2021 – 7:00am) – EssilorLuxottica today announced that consolidated revenue for the first quarter of 2021 totalled Euro 4,060 million, representing a year-on-year increase of 7.3% compared to the first quarter of 2020 (+14.3% at constant exchange rates¹). Consolidated revenue grew by 1.9% at constant exchange rates¹ compared to the first quarter of 2019.

“EssilorLuxottica had a strong start to the year. While the pandemic continued to put up a fight, we fought harder, delivering significant revenue growth that surpassed pre-pandemic levels and met the structural need for good vision. Our passionate employees were not deterred by the adversity - they remained agile and focused on improving the unique journey taken by our customers and consumers.

In the first quarter, we successfully capitalized on the rebound in the US and China, while leveraging our brands, product innovation, distribution and digitalization everywhere in the world.

Our integration gained further momentum and we made good progress in several areas, while continuing to make new bolt-on acquisitions. Our sustainability, social impact and inclusive business agendas remained at the heart of our mission and business model.

The position we’re in today gives us greater confidence in our ability to outperform the industry.” said Francesco Milleri and Paul du Saillant, respectively CEO and Deputy CEO of EssilorLuxottica.

Notes
¹ Constant exchange rates: figures at constant exchange rates have been calculated using the average exchange rates in effect for the corresponding period in the relevant comparative year (2020 or 2019).

2 Adjusted measures or figures: adjusted from the expenses or income related to the combination between Essilor and
Luxottica and other transactions that are unusual, infrequent or unrelated to the normal course of business as the impact of these events might affect the understanding of the Group’s performance.

3 Comparable store sales: reflect, for comparison purposes, the change in sales from one period to another by taking
into account in the more recent period only those stores already open during the comparable prior period. For each
geographic area, the calculation applies the average exchange rate of the prior period to both periods.

4 Adjusted comparable store sales: reflect, for comparison purposes, the change in sales from one period to another
by taking into account in the more recent period only those stores already open during the comparable prior period. Stores that are or were temporarily closed due to the COVID-19 crisis are excluded from the calculation for the duration of the store closure. For each geographic area, the calculation applies the average exchange rate of the prior period to both periods.

⁵Free Cash Flow: Net cash flow provided by operating activities less the sum of Purchase of property, plant and equipment and intangible assets and Cash payments for the principal portion of lease liabilities according to the IFRS consolidated statement of cash flow.

6 Net debt: sum of Current and Non-current borrowings, Current and Non-current lease liabilities, minus Short-term
investments, Cash and cash equivalents and the Interest Rate Swap measured at fair value as disclosed in the IFRS
consolidated financial statements.

7 Fast-growing/emerging/developing countries/economies/markets: China, India, South Asia, South Korea, Hong
Kong, Taiwan, Africa, the Middle East, Russia, Eastern Europe and Latin America.

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First quarter revenue shows solid return to growth at +14.3% versus 2020