Long-term value creation through continuous transformation

March 8, 2018 – Heikki Takala, President and CEO

Amer Sports Annual General Meeting

2017: Another record year

• Net sales EUR 2,685.2 million (2,622.1), +4%*

• Free cash flow EUR 161.3 million (64.4), 117% of net profit

• Balance sheet net debt/EBITDA 1.6 (1.9)**

• EBIT EUR 215.0 million (221.7), EBIT margin 8.0% (8.5%)**

– Continuous OPEX efficiency, 37.6% (38.2%)

8 February 2018 Amer Sports Annual General Meeting

* In local currencies

** Excl. IAC

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Transformation continues

• Softgoods +7% toward EUR 1.1 billion

• D2C +25% to EUR 250+ million. ~300 stores, ~90 e-commerce sites. 1,000+

employees.

– ”Modern channels” already ~30% of sales

• China +15% to EUR ~120 MEUR

• Connected Devices and Services double-digit growth toward EUR 300 million

• US at 2016 level, channel transformation on-going

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Other highlights

• What’s working:

– Winter Sports Equipment

– Fitness and Sports Instruments starting to turn around

• To be accelerated:

– Ball Sports, Footwear

• To be fixed:

– Cycling

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Positive long-term development continues…

2009 2010 2011 2012 2013 2014 2015 2016 2017

Growth -4% 8% 9% 5% 8% 6% 5% 4% 4%

EBIT Margin 3.2% 6.2% 7.2% 6.7% 7.3% 7.6% 8.4% 8.5% 8.0%

Free Cash

Flow to Net

Profit

4.5 0.7 -0.2 0.9 0.5 0.6 1.0 0.5 1.2

Net Debt /

EBITDA3.6 2.2 2.3 2.5 2.2 2.0 1.7 1.9 1.6

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...and the development creates shareholder value

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Since 2010, Amer Sports share +260%, Total Shareholder Return ~340%

8th consecutive year of increased payout to the shareholders (Board proposal)

Amer Sports

S&P 500 index

OMXHCap

Outlook - guided by our long term targets and strategies

• In 2018, Amer Sports’ net sales in local currencies as well as EBIT excl. IAC

are expected to increase from 2017. Due to ongoing wholesale market

uncertainties, the quarterly growth and improvement are expected to be

uneven.

• The company will prioritize sustainable, profitable growth, focusing on its

five strategic priorities (Apparel and Footwear, Direct to Consumer, China,

US, and Connected Devices and Services) whilst continuing its consumer-

led transformation.

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The product pipeline is solid and based on proven building blocks

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NAGOYA, JAPAN LOS ANGELES, US

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Direct to Consumer continues growing

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Modern channel expansion

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ARC’TERYX VEILANCE

THE BROKEN ARM

Paris

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New learning for the future

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Amer Sports on the podium

We operate sustainably

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Athletes and consumers

Environment

Products

Personnel

Our model creates long-term value

• We drive sustainable profitable growth, now focus especially on

profitability improvement

• We capitalize on proven growth drivers with good amount of new learning

• We transform the company to win with the changing consumer

• We continuously evaluate the portfolio

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