Strategic Investment in Hugo Boss AG

Date: 19 January 2021

Frasers Group Plc

("Frasers Group" or the "Company")

Strategic Investment in Hugo Boss AG

Frasers Group plc is pleased to announce that it has recently increased its investment in Hugo Boss AG, and now has the following interests in the common stock:

· 3,611,700 shares of common stock, representing 5.1% of Hugo Boss's total share capital

· 3,377,465 shares of common stock via contracts for difference, representing 4.8% of Hugo Boss's total share capital

· 3,735,000 shares of common stock via the sale of put options, representing 5.3% of Hugo Boss's total share capital

After taking into account the premium it will receive under the put options, Frasers Group's maximum aggregate exposure in connection with its acquired interests in Hugo Boss is approximately €275m (c.GBP £245m)

This investment reflects Frasers Group's growing relationship with Hugo Boss and belief in Hugo Boss's long-term future. Frasers Group intends to be a supportive stakeholder and create value in the interests of both Frasers Group's and Hugo Boss' shareholders.

Ends.

Frasers Group Plc T. 0344 245 9200

Tom Piper, Company Secretary E. [email protected]