RICHEMONT/ Acquired 100% of Delvaux, private transaction

Milan, July 1, 2021 (L&F) - Richemont acquired 100% of Delvaux, the renowned Belgian luxury leather goods Maison, established nearly two centuries ago in 1829, in a private transaction. "Delvaux is an authentic European luxury leather goods Maison with strong heritage, distinctive savoir faire and exceptional manufacturing capabilities. The Maison’s rich archives and creative momentum over the last 10 years represent a solid foundation from which to grow the company for the long term, strengthening Richemont’s presence at the pinnacle of the leather goods category. We are delighted to welcome Delvaux’s management and teams to Richemont, and look forward to working closely with them to enable the Maison to reach its full potential under the Group’s stewardship" Philippe Fortunato, CEO of Fashion & Accessories Maisons, commented. The transaction has no material financial impact on Richemont’s consolidated net assets or operating result for the year ending 31 March 2022. The results of Delvaux will be reported under the ‘Other’ business area.