COTYICONIC BRAND BUILDER

BARCLAYS BACK TO SCHOOL CONFERENCESeptember 3, 2019

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WE HAVEA strong asset base and a roadmap to unlock significant value

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STRONGASSET BASE

A DIVERSIFIED BEAUTY COMPANYCoty competes in key segments

Coty’s product portfolio covers key categories

F R A G R A N C E S

C O S M E T I C S

H A I R C A R E

S K I N C A R E

B O D Y C A R E

M A S SL U X U R Y P R O F E S S I O N A L

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#1 Global Fragrance Maker

3 out of Top 10 Luxury Fragrance Brands

Average remaining license life ~8 years

LUXURYBUSINESSCOTY IS THE GLOBAL LEADER IN FRAGRANCES

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LUXURY BUSINESS

1.9%

5.2%

4.1%

-1.1%

6.0%

4.7%

FY17 FY18 FY19

Coty luxury net revenues growing in-line to ahead of global luxury fragrance market

Steadily improving margins, with room for further expansion

Global Luxury Fragrances YoY

Coty Luxury Net Revenue YoY

Operating Margin

Source: NPD, Euromonitor, Coty estimates

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Opportunity to leverage brands into adjacent categoriesLUXURY BUSINESS

COTY#1 Share

Market Size ($Bn)

Estimated Next 5Y CAGR

3% 4% 5% 6% 7% 8%

$20

$30

$40

$10

Luxury Fragrance Segment

▪ License agreements allow expansion into cosmetics and skincare

▪ Major growth opportunities in the ~$24B luxury cosmetics and ~$35B luxury skincare segments

▪ Gucci make-up relaunch off to a very strong start

Luxury Cosmetics Segment

Luxury Skincare Segment

Source: NPD, Euromonitor, Coty estimates

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▪ 33K lipsticks sold in 1 store on 1st day▪ More than 1 million lipsticks sold in the first

two months▪ Strong momentum online, with e-commerce

at 55% of Gucci lipstick sales

GUCCIMAKE-UP LINE

RELAUNCH OFF TO A VERY STRONG START

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SIGNIFICANT UNTAPPED POTENTIAL IN SKINCARE

<$100M in Revenues

#6 Skincare brand in China Sephora

~$200M in Revenues

#6 skincare brand in the U.S.

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High loyalty and barriers to entry

Salon customers’ repeat purchase rate is >13x that of retail beauty consumers

PROFESSIONALBEAUTY

COTY IS A LEADER IN SALON HAIR

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WELLA #1 SALON HAIR COLOR BRANDMajority of our salon customers have been buying Wella for >9 years

Strongly positioned for further growth

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BRANDS WITH SIGNIFICANT GROWTH POTENTIAL

~$300M in Revenues

Top 5 markets still >70% of revenues

Reaching double-digit % awareness in 4 additional markets

>$200M in Revenues

U.S. still >55% of revenues

60%+ awareness and top 5 brand power in several additional key beauty markets

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COTY’S FIRST

Haircare brand, offering a range of natural, vegan and cruelty-free products

93% to 99.7% natural origin, 100% recyclable packaging

Natural personal care market currently ~$4B and expected to grow ~5x in next 5 years

Example of white space opportunity

ECO-ETHICALBRAND

Source: Kline, Transparency Market Research13

Luxury Consumer Beauty Professional Beauty TOTAL COTY

E-Commerce Penetration(% of Net Revenues, excludes Younique)

Mid single digits

penetration

High single digits penetration

~30% Rev Growth

>25% Rev Growth

>30% Rev Growth

>30% Rev Growth

STRONG E-COMMERCE MOMENTUMAcross all divisions

(ex Younique)

FY18 FY19

14%

12%

10%

8%

6%

4%

2%

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SIGNIFICANT VALUE IN

Luxury Professional Beauty&

Combined for ~68% of Coty EBITDA 15

A CLEAR PATH FOR IMPROVEMENT INCONSUMER BEAUTY

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▪ Context: Measured mass beauty segment declining -1-2% annually in the last 3 years

▪ Drivers: Growing penetration of indie brands in unmeasured channels

▪ Our goal: Moderate revenue decline through premiumization of our brands to be in line with the market of -1-2% by FY23

11%

5%

-7%

-10%

Premium MassMainstream

MassValueMass

Coty USLFL

MASS BEAUTY SEGMENT IN MODERATE DECLINEOpportunity for value creation through growing premium mass segment

*Coty US Consumer Beauty excludes YouniqueSource: Nielsen, Coty Inc

US Color Cosmetics CAGR (‘16-’18)Coty US Consumer Beauty LFL CAGR (FY17-FY19)

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Total Mass Beauty:-1% to -2%

ColorCosmetics

Hair Coloring& Styling

Mass Fragrances & Body Care

¹ Nail category only² Hair Styling only³ For Germany, refers to share in Mass Fragrances; in Brazil, refers to share in Body Care Source: Nielsen

CONSUMER BEAUTYStrong competitive position in key beauty geographies

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INCREASE AT-SCALE ADVERTISING TO MORE BRANDS AND MARKETS

Number of priority brands in key markets supported through advertising at-scale

Example brands

3x

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15

5

3

Launch Month Month 6 Month 7

Rimmel Wonder'Luxe UK Ranking

RIMMEL WONDER’LUXE CASE STUDY

TV SUPPORT AIRS

▪ Rimmel Wonder’Luxe launches in the UK at 12% premium to existing Wonder range

▪ With substantially increased TV support in recent months, Wonder’Luxe now #3 mascara in the UK and #1 for Rimmel

▪ Rimmel gains 0.4 points of market share, following share losses

PLANNED ACTIONSLaunch premium innovation and support with

4x increase to advertising relative to FY19 Source: Nielsen, Coty Inc

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CREATE VALUE BY REVERSING PRICE EROSION IN OUR CATEGORIES AND BRANDSCoty sample brand price index relative to direct competitor brand C

oty

high

erpr

iced

Cot

y lo

wer

pric

ed

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Past Yesterday Going Forward

Past Yesterday Past Yesterday Past YesterdayGoing Forward

Going Forward

Going Forward

Coty price index vs. competition = 100%

ACCELERATE HERO SUB-BRANDS IN ORDER TO BUILD BIGGER, SIMPLER BRANDS

Share of hero sub-brands

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GRADUALLY RATIONALIZE OUR SKUSSimplifies our business and drives gross margin expansion

Value Engineer

Accelerate Growth

SKU Mapping of Top Cosmetics Brand in Key Market

~38% of SKUs

~70% of revenues

Reduce Complexity~25% of SKUs

~10% of revenues

SKU

Rel

evan

ce /

pro

duct

ivit

y

SKU Gross Margin

High

HighLow

~15% of SKUs

~10% of revenues

Rationalize~22% of SKUs

~10% of revenues

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ROADMAP TO HEALTHIER CONSUMER BEAUTY BUSINESS

Executional gaps have impacted profitability for Consumer Beauty –32% of Coty EBITDA

Our action plans target stabilizing revenue and expanding margins

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COMPELLING INVESTMENT OPPORTUNITY

Net revenues growth(constant FX & scope)

Free Cash Flow

Net Debt to EBITDA

Adjusted Operating Margin

0 to 2%(stable FY23 vs FY19)

~$1 billionLess than 4x

14% to 16%

OUR OBJECTIVESFY23 Targets

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PROFITS - BUILDING SUSTAINABLE INCOME GROWTH

FCF

Mix / Value

Fixed Cost

COGS

Advertising

Net Revenues

Net Debt EPS

Operating Income(Margin +3-5%)

AssortmentPromotionInnovation~40% of gross margin expansion

ProductivitySKU Reduction~60% of gross margin expansion

Organization delayering

Mutualizing support functions

Working Media

Digital & Traditional

Gross Margin(>5%)

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STRONG FINANCIAL POSITION AND PATH TO DELEVERAGE

▪ Ample liquidity and no major maturities until FY23

▪ Financing conditions allow flexibility

▪ Generating positive free cash flow, which will steadily increase to over $1Bn by FY23 and drive debt paydown

OUR NEW PATH STARTS NOW

Stable to slightly down YoY

+5-10% YoYStrong A&CP reinvestment

Moderate improvement YoY

LFL NET REVENUES

ADJUSTED OI(At Constant Scope

and Currency)

FREE CASH FLOW

FY20 Outlook

Mid-single digit growth YoYADJUSTED EPS

We have a strong asset base, and a roadmap to unlock significant value

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Forward-Looking Statements

Certain statements in this presentation are forward-looking statements. These forward-looking statements reflect Coty Inc.’s (“Coty’s”) current views with respect to, among other things, Coty’s Turnaround Plan, strategic planning, targets, segment reporting and outlook for fiscal year 2020 and future reporting periods (including the extent and timing of revenue, profit and EPS trends and changes in operating cash flows and cash flows from operating activities and investing activities); Coty’s future operations and strategy, allocation and amount of advertising and consumer promotion costs, allocation and amount of research and development investments, ongoing and future cost efficiency and restructuring initiatives and programs (including the expected timing and impact), investments, licenses and portfolio changes, synergies, savings, performance, cost, timing and integration of acquisitions, future cash flows, liquidity and borrowing capacity, timing and size of cash outflows and debt deleveraging, the performance of launches or relaunches, the timing and impact of current or future destocking or shelf spaces losses, the impact and timing of supply chain disruptions and the resolution thereof, timing and extent of any future impairments, and the synergies, savings, impact, cost, timing and implementation of Coty’s Turnaround Plan, including operational and organizational structure changes, operational execution and simplification initiatives, the move of Coty’s headquarters, and the priorities of senior management. These forward-looking statements are generally identified by words or phrases, such as “anticipate”, “are going to”, “estimate”, “plan”, “project”, “expect”, “believe”, “intend”, “foresee”, “forecast”, “will”, “may”, “should”, “outlook”, “continue”, “temporary”, “target”, “aim”, “potential”, “goal” and similar words or phrases. These statements are based on certain assumptions and estimates that we consider reasonable, but are subject to a number of risks and uncertainties, many of which are beyond the control of Coty, which could cause actual results to differ materially from such statements. Such risks and uncertainties are identified in the periodic reports Coty has filed and may file with the Securities and Exchange Commission (the “SEC”) including, but not limited to: Coty’s ability successfully implement its multi-year Turnaround Plan and to develop and achieve its global business strategies, compete effectively in the beauty industry and achieve the benefits contemplated by its strategic initiatives within the expected time frame or at all, the integration of recent acquisitions with Coty’s business, operations, systems, financial data and culture and the ability to realize synergies, avoid future supply chain and other business disruptions, reduce costs and realize other potential efficiencies and benefits (including through its restructuring initiatives) at the levels and at the costs and within the time frames contemplated or at all, and managerial, integration, operational, regulatory, legal and financial risks, including diversion of management attention to and management of cash flows, expenses and costs associated with multiple ongoing and future strategic initiatives, internal reorganizations and restructuring activities, including the Turnaround Plan, and Coty’s ability to retain and attract key personnel and the impact of senior management transitions and organizational structure changes.

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included elsewhere. More information about potential risks and uncertainties that could affect Coty’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Coty’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019, and other periodic reports Coty has filed and may file with the Securities and Exchange Commission (the “SEC”) from time to time. Any forward-looking statements made in this presentation are qualified in their entirety by these cautionary statements. All forward-looking statements are made only as of the date of this presentation, and, Coty undertakes no obligation, other than as may be required by applicable law, update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.

Non-GAAP Financial Measures

In this presentation, Coty presents certain non-GAAP financial measures that we believe enable management and investors to analyze and compare the underlying business results from period to period, including constant currency, organic like-for-like (LFL) and adjusted metrics, as well as free cash flow and net debt. Constant currency information compares results between periods as if exchange rates had remained constant period-over-period, with the current period’s resultscalculated at the prior-year period’s rates. The term “like-for-like” describes the Coty's core operating performance, excluding the financial impact of (i) acquired brands or businesses in the current year period until Coty has twelve months ofcomparable financial results, (ii) divested brands or businesses or early terminated brands in the prior year period to maintain comparable financial results with the current fiscal year period and (iii) foreign currency exchange translations to theextent applicable. Adjusted metrics exclude nonrecurring items, purchase price accounting related amortization, acquisition-related costs, restructuring costs and certain other information as noted within this presentation. Free cash flow is definedas net cash provided by operating activities, less capital expenditures, and net debt is defined as total debt less cash and cash equivalents. These non-GAAP financial measures should not be considered in isolation, or as a substitute for, or superiorto, financial measures calculated in accordance with GAAP. To the extent that Coty provides guidance, it does so only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to theinherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including adjustments that could be made for restructuring, integration and acquisition-related expenses, amortization expenses,adjustments to inventory, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.

Outlook Information

In this presentation, Coty presents outlook information as of August 28, 2019.

Definitions and Notes

Fiscal year represents Coty’s fiscal year ended June 30.

DISCLAIMER

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