Strategic investment in Hugo Boss AG

Date: 6 January 2023

FRASERS GROUP PLC ("Frasers Group" or "the Company")

STRATEGIC INVESTMENT IN HUGO BOSS AG ("Hugo Boss")

Frasers Group announces its current investment in Hugo Boss now comprises the following:

· 2,714,300 shares of common stock, representing 3.9% of Hugo Boss's total share capital

· Of the above, 2,714,300 shares of common stock, representing 3.9% of Hugo Boss's total share capital is covered via the sale of call options

· 17,574,000 shares of common stock via the sale of put options, representing 25.0% of Hugo Boss's total share capital

· Of the above, 1,760,000 of common stock, representing 2.5% of Hugo Boss's total share capital is matched via the purchase of put options

After taking into account the premium it will receive under the put and call options, Frasers Group's maximum aggregate exposure in connection with its net acquired interests in Hugo Boss, with the common stock holding valued at the closing share price on 5 January 2023, is approximately €660m (c. £580m).

The above represents the resultant position after the most recent transaction, the on-market sale of call options on 5 January 2023. If the sold call options are exercised at maturity the consideration will be retained by the Group.

Ends

Frasers Group plc

Robert Palmer, Company Secretary T. 0344 245 9200

E. [email protected]

LEI:213800JEGHHEAXIJDX34

Chris Wootton, Chief Financial T. 0344 245 9200

Officer E. [email protected]

Ronnie Laffar, Head of PR & T. 07585 886189

Communications E. [email protected]

Rosie Oddy, Brunswick Group, T. 07734 861279

PR Advisors E. [email protected]

Numis T. 020 7260 1000

Luke Bordewich

Stuart Ord

Ollie Steele

Liberum T. 020 3100 2000

John Fishley

Kane Collins

Nikhil Varghese