Combined Shareholders’ Meeting

October 26, 2012

This document is a free translation into English of the original French presentation to the Combined Shareholders’ Meeting.

In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.

FINANCIAL STATEMENTS AS OF APRIL 30, 2012:4-MONTH FISCAL YEAR

CHRISTIAN DIOR GROUP

� Reminder of the resolution adopted at the Shareholders’ Meeting of April 5, 2012

• New fiscal year-end date: April 30

• Objective: optimize the flow of dividends within the Group

January 1, 2011

December 31, 2011(*)

April 30,2012(*)

Fiscal year 2011Fiscal year ended

April 30, 2012

(*) Fiscal year-end dates

CONSOLIDATED INCOME STATEMENTCHRISTIAN DIOR GROUP

394Net profit, Group share

5,865Gross margin

1,809Profit from recurring operations

1,190Net profit before minority interests

(7)Net financial income (expense)

(535)Income taxes

796Minority interests

3Income (loss) from investments in associates

1,729Operating profit

(80)Other operating income and expenses

(3,335)Marketing and selling expenses

(721)General and administrative expenses

8,993Revenue

April 30, 2012

(4 months)(EUR millions)

Fashion and Leather Goods Selective Retailing

Wines and Spirits

Perfumes and Cosmetics

Christian Dior Couture

Watches and Jewelry

REVENUE BREAKDOWNBY BUSINESS GROUP

CHRISTIAN DIOR GROUP

34% 27%

13%

13%

4%

9%

April 30, 2012 (4 months)as % of total revenue

REVENUE BREAKDOWNBY GEOGRAPHIC REGION OF DELIVERY

CHRISTIAN DIOR GROUP

30%

11%

22%

10%

19%

8%

Asia (excluding Japan)

France

United States

Other markets

Europe (excluding France)

Japan

April 30, 2012 (4 months)as % of total revenue

Other currencies

US dollarEuro

Yen

41%

28%23%

8%

REVENUE BREAKDOWNBY INVOICING CURRENCY

CHRISTIAN DIOR GROUP

April 30, 2012 (4 months)as % of total revenue

Ready-to-Wear Collection Spring-Summer 2013

(EUR billions)CONSOLIDATED FREE CASH FLOWCHRISTIAN DIOR GROUP

2.1

0.3

FREE CASH FLOW(*)

(0.5)

Income

taxes

(0.7)

Total change in

working capital

(0.5)

Operating

investments

(0.1)

Interest

CASH FROM OPERATIONSBEFORE CHANGES

IN WORKING CAPITAL

(*) Before financial investments, transactions relating to equity and financing activities

April 30, 2012 (4 months)

FINANCIAL STRUCTURECHRISTIAN DIOR GROUP

Liabilities and equityAssets

April 30, 2012EUR billions 52.2 52.2

Non-current assets

Inventories and work in progress

Other current assets

Total equity

Non-current liabilities

Current liabilities

50%

31%

19%

74%

16%

10%

CONSOLIDATED TOTAL EQUITYAND NET FINANCIAL DEBT (EUR billions)

CHRISTIAN DIOR GROUP

AS OF APRIL 30, 2012

6.9

26.0

TOTAL EQUITY NET FINANCIAL DEBT

Gearing: 27%

AS OF DECEMBER 31, 2010

4.1

19.6

Gearing: 21%

AS OF DECEMBER 31, 2011

Gearing: 24%

6.1

24.9

Diorissimo bag

Dior JewelryMy Dior

Dior WatchesDior VIII Grand Bal Résille

Dior VIII

CHRISTIAN DIOR COUTURE

22

371

CHRISTIAN DIOR COUTURE

• Strong growth for retail revenue

• Improvement in profitability

• Arrival of Raf Simons

• New exhibition dedicated to the Brand

Profit fromrecurringoperations

Revenue

April 30, 2012 (4 months)EUR millions

CHRISTIAN DIOR COUTURE

“Lady Dior as seen by” EXHIBITION IN TOKYO

CHRISTIAN DIOR COUTURE

REOPENING OF THE GINZA BOUTIQUE IN TOKYO

CHRISTIAN DIOR COUTURE

License royalties

3%

Wholesale activities

7%

Retail and other activities

90%

April 30, 2012 (4 months)as % of total revenue

REVENUE BREAKDOWNBY BUSINESS ACTIVITY

RETAIL REVENUE BREAKDOWNBY GEOGRAPHIC REGION OF DELIVERY

CHRISTIAN DIOR COUTURE

Americas

9%

Asia-Pacific

49%

Europe and Middle East

42%

April 30, 2012 (4 months)as % of total revenue

Ready-to-Wear Collection Spring-Summer 2013

WINES AND SPIRITSLVMH

Profit from recurring operations

Revenue

338

1,196

• Robust demand: strong revenue growth (+22% at current exchange rates)

• Worldwide leadership of Champagne and Cognac brands

• Value-creation strategy

April 30, 2012 (4 months)EUR millions

FASHION AND LEATHER GOODSLVMH

Profit fromrecurringoperations

Revenue

1,023

3,101• Strong revenue growth (+17% at

current exchange rates)

• Continuing robust progress by Louis Vuitton

• Growth momentum for the other brands, particularly Céline

April 30, 2012 (4 months)EUR millions

PERFUMES AND COSMETICSLVMH

Profit fromrecurringoperations

Revenue

159

1,188

• Revenue: +13% at current exchange rates

• Tremendous vitality of the emblematic fragrances J’Adore, Miss Dior and Dior Homme

• Excellent start for La Petite Robe Noire, Guerlain’s new perfume

• Solid progress for Guerlain’sOrchidée Impériale skincare line

April 30, 2012 (4 months)EUR millions

WATCHES AND JEWELRYLVMH

Profit fromrecurringoperations

Revenue

85

853

• Strong revenue growth

• Vertical integration strategy and extension of the network of owned stores

• Excellent performance for Bulgari, notably its Serpenti collection

• Dynamism and creativity

April 30, 2012 (4 months)EUR millions

SELECTIVE RETAILINGLVMH

Profit fromrecurringoperations

Revenue

263

2,385• Revenue: +28% at current exchange

rates

• Excellent growth momentum for DFS and Sephora

• Ambitious renovation and extension program at Le Bon Marché

April 30, 2012 (4 months)EUR millions

Ready-to-Wear Collection Autumn-Winter 2012-2013

PROPOSED RESOLUTION 18:MODIFICATION OF THE FISCAL YEAR-END DATE TO JUNE 30

CHRISTIAN DIOR GROUP

� Objective: optimize financial communication and monitoring of the Group’s

business activity and financial results, while maintaining the optimization of the flow of dividends

� New fiscal year-end date: June 30

� Does not apply to the current fiscal year, which will end on April 30, 2013

� Exceptionally, the fiscal year immediately following the current fiscal year will last two months, from May 1 to June 30, 2013

May 1,2012

June 30,2014(*)

April 30,2013(*)

June 30,2013(*)

Fiscal year 2012 / 2013Fiscal year ended

June 30, 2013Fiscal year 2013 / 2014

(*) Fiscal year-end dates

PROPOSED GROSS DIVIDEND PER SHARECHRISTIAN DIOR

1.10

€2.11

Fiscal year 2010

€2.61

Fiscal year 2011

€1.10

Fiscal year ended04/30/2012

1.63

1.22 1.230.98

+ 5.2% + 23.5%

Dividends paidin 2010

€2.10

Dividends paidin 2011

€2.21

Dividends paidin 2012

€2.73

0.88

Final Interim Dividend proposed to the Shareholders’ Meeting,

to be paid on December 4, 2012

REVENUE OVERVIEW AS OF JULY 31, 2012CHRISTIAN DIOR GROUP

Period from May 1

to July 31, 2012

(3 months)

Period from May 1

to July 31, 2011

(3 months)

Growth atcurrent

exchange rates

REVENUE(EUR millions)

843Wines and Spirits 702 + 20%

323Christian Dior Couture 252 + 28%

2,413Fashion and Leather Goods 2,096 + 15%

805Perfumes and Cosmetics 691 + 16%

733Watches and Jewelry (*) 447 + 64%

1,834Selective Retailing 1,486 + 23%

(49)Other activities and eliminations (32) -

TOTAL 6,902 5,642 + 22%

(*) Revenue for Bulgari is taken into account from July 1, 2011

Haute Couture CollectionAutumn-Winter 2012-2013

Combined Shareholders’ Meeting

October 26, 2012