LVMH LETTER TO SHAREHOLDERS AUGUST 2019 5

PERFUMES & COSMETICS EXCELLENT GROWTH OF FLAGSHIP BRANDS AND RAPID PROGRESS IN ASIA

The Perfumes & Cosmetics business group recorded organic revenue growth of 9%, mainly driven by the performance of flagship brands. Profit from recurring operations was up 6%. Parfums Christian Dior maintained strong momentum, driven by the vitality of its iconic perfumes and the rapid progress of its makeup and skincare lines. Guerlain had an excellent start to the year. Its iconic Rouge G lipstick and Abeille Royale skincare line were particularly strong. Guerlain s launch of the first digital transparency and product traceability platform was a highlight of the first half. Parfums Givenchy benefited from its rapid progress in makeup and the good performance of its L Interdit perfume. Benefit continued to grow its Eyebrow collection while Fresh continued its expansion in China.

REVENUE

3,236m +9% (1)

PROFIT FROM RECURRING OPERATIONS

387m +6%

OPERATING MARGIN

12% (1) With comparable structure and constant exchange rates.

On a reported basis, revenue growth was 12 %.

Parfums Christian Dior