1. MONNARI TRADE S.A. Presentation, 26.01.2016

2. Quality, elegance and style RESERVATION This presentation (hereinafter the Presentation) has been prepared by MONNARI TRADE S.A. (hereinafter the Company) in order to present operation and results for the Company’s shareholders, customers and financial analytics. The Presentation does not constitute an offer to sell, or an invitation to submit an offer to purchase or take securities or financial instruments. Furthermore, the Presentation is not a piece of advice or recommendation in relation to the securities or other financial instruments. This Presentation may include statements on the Company’s future, its future plans, strategies or planned events. Bearing in mind that the statements have been assumed on the basis of expectations and projection regarding future events, they are burdened with risk and uncertainty. The Company is not obliged to update or announce to the public any changes, updates and modifications pertaining to the Presentation’s contents. Neither the Company nor its representatives will be liable for any damages resulting from utilization of the Presentation or any information contained herein, or remaining in connection with the Presentation on its basis.

3. Quality, elegance and style  What do we do - the subject of operation;  Who is our customer - the sales sector  How do we operate - suppliers, distribution channels;  Where do we operate  MONNARI TRADE S.A. Capital Group  Latest events  Our actions in numbers - financial results;  Groups’ investable assets - real estates;  Our virtues - competitive advantage;  Where are we heading - objectives for 2016. Table of contents

4. Quality, elegance and style What do we do - the subject of operation  We design clothes collections for women +30, for four seasons of the year;  We order and monitor the production process;  We carry out marketing actions;  We sell clothes and accessories under the MONNARI and PABIA brands.

5. Quality, elegance and style Our customer  A woman +30;  Buying clothes and accessories in more than a trendy sector;  A customer taking care of elegance embedded in the latest fashion trends;  A customer, who appreciates diversity of the collection (several lines in each season) and its complementarity.

6. Quality, elegance and style How do we operate - suppliers  We design and compose, we do not manufacture;  We outsource clothes production in Poland, China and other countries, in accordance with the Company’s designs and specifications, what allows to cut on the permanents costs and diversify the risk permanently.  We cooperate with several hundreds of suppliers around the world, what guarantees a wide access to various goods and materials - the order below 10% of the ordered assortments volumes, sold by the Company.

7. Quality, elegance and style How do we operate - distribution channels  149 showrooms in shopping malls and galleries, 2 at the commercial streets in the city centers of Warsaw and Łódź;  Sales via the online store and other Internet platforms;  External sales - (wholesale, lease).

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9. Where do we operate? In Poland, we are in all large and medium-sized cities, we have about 27.2 k m2 of commercial area.

10. Quality, elegance and style Description of the MONNARI TRADE S.A. Capital Group  Capital Group - since 2011  The parent company - MONNARI TRADE S.A. - and 122 subsidiaries with 100% of shares owned by MONNARI TRADE  Presentation of consolidated results since 2014

11. Quality, elegance and style Subsidiaries provide services in the scope of:  the operation of clothes sales and distribution,  designing, supervising the shopping and production processes,  storage and logistic services,  human resources management, comprehensive staff and remuneration service  financial and bookkeeping, administration and IT services,  leasing commercial areas in Poland, where MONNARI brand showrooms are located  management of trade marks and license agreements,  real estates management. In majority, the subsidiaries provide services only to MONNARI TRADE S.A. and other companies within the group.

12. Quality, elegance and style MONNARI TRADE S.A. operation  Sales of MONNARI brand products,  Management operation within the Capital Group,  Marketing actions.

13. Quality, elegance and style  Maintenance of actions effectiveness - an increase in revenue from sales of products, by 21.96% - 209.9 mln PLN  LFL turnover +12.4%  Further expansion of the sales network - 21 new showrooms  More than 600 thousand regular MONNARI customers - purchasing cards The most important events in 2015

14. Quality, elegance and style  A prize for the best female brand  GOOD COMPANY - for the most dynamic companies from the 2000 List, prepared by the “Rzeczpospolita” daily newspaper, in cooperation with the Ministry of Economy.  1st place in the “Female Product or Service” category on the Final Gala of the Economic Plebiscite - Women’s Faces The most important events in 2015 - prizes

15. Quality, elegance and style Since half of March 2015, the Plus Size line The most important events 2015: Sizes of the new female collection from 46 to 52 - a successful test

16. Summary for annual results for 2011-2014 Selected financial details (000 PLN)2014201320122011 Revenue from sales175,185145,517131,783111,205 Gross result from sales105,38081,68369,22056,004 Operational activity result (EBIT)29,70017,3558,466-4,945 Gross profit (loss)32,26017,7648,233-4,986 Net profit (loss)30,35917,4088,233-4,986 Total number of assets139,369103,614107,986101,473 Equity119,46089,10171,46263,229 Share capital (0.10 PLN/share)3,056 3,101 Share price at the end of the period (PLN) 10.156.651.150.82 Quality, elegance and style

17. Summary for annual results for 2011-2014 Increased revenue by 20.4% year-on- year (57.5% when compared to 2011) Increase in operational profit by 71.1% year-on- year Increase in net profit by 74.4% year-on-year Quality, elegance and style

18. 3rd quarter of 2015 - Summary of the results (in thousands PLN) 2015 %change 2014 %change 2013 Revenue from sales 42 797 16.2% 36 978 9.9% 33 642 Profit margin50,3% -9.2 p.p 59.5% 5.5 p.p 54.0% Gross result 21 638 -1.6% 22 001 21% 18 178 from sales SG&A costs21 083 15.2% 18 301 10.0% 16 633 Operational profit501 -87.3% 4 050 98.2% 2 043 Net profit 20 609 421% 3 956 278% 1 048 Profit per one share (in the gr.) 67 13 3

19. Quality, elegance and style A real estate with surface area of 2.4 k m2 with a modern office building with a surface area of 4 k m2 in the centre of Łódź, for lease - 60% are external tenants, the remaining part is used for the needs of the MONNARI Group; Immovable property with surface area of 7.8 k m2 in Łódź; Immovable property with surface area of 105 k m2 with post-factory developments in Łódź; Groups’ investable assets - real estates

20. Quality, elegance and style We actively support sales  Weekly promotional actions  Cooperation with other brands - Lindt, Dove, Mary Kay, Bytom, Henkel, Monolith  Cooperation with Monolith at distribution of the Spectre 007 movie.

21. Quality, elegance and style Social actions in 2015 Participation in the national campaign entitled “Cała reszta to szczęście” [The rest is happiness] organized by the Polish Mint and TVN foundation We support the Orphanage in Łódź and the Single Mother House in Łódź and the Gajusz hospice for children.

22. Quality, elegance and style MONNARI competitive advantage  Well-established position of the brand;  Own comprehensive collections;  A segment of customers with an elevated financial status - more than 600 k loyalty cards;  A stable sales network (149 showrooms), developed consequently;  A diversified market of suppliers in Poland and on the Far East;  An experienced team of employees;  A dynamically developing online store.

23. Quality, elegance and style Plan for 2016  Maintenance of a high profitability level and further improvements of the financial results on all levels;  Development of the company’s network of showrooms in the best locations in Poland, a joint increase in the surface area in 2016 by 3 - 4 k m2, new openings and enlargements of the showrooms (more than 200 m2 - 300 m2) in shopping malls, where the contracts will soon terminate (19);  Active marketing actions:  Seeking for investment possibilities on the market.

24. Thank you for your attention We encourage you to visit our showrooms and our website www.monnaritrade.com Contact: Miłosz Kolbuszewski – Financial Director 664 043 651, milosz.kolbuszewski@monnari.com.pl Anna Augustyniak-Kala – Organizational and Legal Issues Director 664 360 871 anna.augustyniak@monnari.com.pl