SURFSTITCH GROUP FY2015 FULL YEAR RESULTS

SURFSTITCH GROUP FY2015 FULL YEAR RESULTS

2 TABLE OF CONTENTS 1.0 Company Highlights 2.0 Financial Review 3.0 Strategic Review 4.0 Appendix

1.0 COMPANY HIGHLIGHTS Justin Cameron - CEO

4 COMPANY HIGHLIGHTS SurfStitch share price performance A$ 2.00 1.90 1.80 1.70 13-May-15: Stab / MSW acquisition Highlights Successful IPO executed in December 2014 FY2015 results exceeds upgraded guidance $199.4m Revenue + $7.7m EBITDA (up 51% on prospectus guidance) 1.60 1.50 25-Feb-15: 1H15 results Successful separation from Billabong and Quiksilver Groups 1.40 1.30 1.20 1.10 1.00 16-Dec-14: IPO 13-May-15: Capital raise announced 0.90 Dec-14 Jan-15 Mar-15 Apr-15 May-15 Jul-15 Aug-15 Successful and rapid capital raising to opportunistically acquire leading global content networks Magicseaweed a user generated surf content network and surf forecaster Stab a leading surf content platform for brands, athletes and consumers Confirm today comfortable with consensus FY16 EBITDA of A$15 A$18m (growth of 100%+)

5 WORLD S LEADING ONLINE ACTION SPORTS MEDIA AND ECOMMERCE PLATFORM World s leading online action sports media and ecommerce platform Linking every aspect of the surf and action sports lifestyle, from impression to purchase Unrivalled community of +6 million action sports enthusiasts utilising the platform weekly Independent global partner of choice for premium action sports brands

6 SURFSTITCH GROUP S DIGITAL ECOSYSTEM Products span surf, skate, street and snow Content drives core traffic growth 700 established and emerging brands Increases repeat visitation 50,000 different product offerings Increases purchasing frequency Repeat visitation Users by region 68% 88% 24 hours 7-days 27% 43% 30% APAC Europe North America

2.0 FINANCIAL REVIEW

8 FY2015 FINANCIAL HIGHLIGHTS FY2015 Pro forma Financial Highlights FY2015 Results exceeded upgraded guidance Revenue A$199.4m (+30%) Asia-Pac: A$82.9m (+44%) Europe: A$87.3m (+22%) North America: A$29.1m (+17%) Significant gross profit margin expansion in all regions (+251bps) EBITDA +7.7m, up 51% on prospectus guidance Executed on significant milestones 2H 2015 Separation from Billabong and Quiksilver Groups Completed capital raise and acquisitions of Magicseaweed & Stab Accelerated growth in all regions Commenced Phase I of integrated media & commerce brand strategy SurfStitch Group reported statutory results for the interim period of 13 October 2014 to 30 June 2015 Represents activity since the Company listed on 16 December 2014 $97.9 million in continuing revenue and ($14.2) million in continuing net losses Losses incurred in the statutory period impacted by from Separation costs associated with Billabong and Quiksilver Groups Acquisitions, IPO listing, transaction and capital raise fees Pro forma consolidated sales (A$ in millions) FY2014 FY2015 Change Revenue $154.1 $199.4 30% Gross profit $66.9 $91.6 37% GP margin 43.4% 45.9% +251bps EBITDA ($3.4) $7.7 nm Profit before tax ($8.1) $4.1 nm Basic earnings per share Cash & equivalents n/a $0.02 nm n/a $40.8 nm Note: Pro forma numbers reflect the full period of 1 July 2013 to 30 June 2014 and 1 July 2014 to 30 June 2015, respectively; Exclude Billabong managed websites; Assumes SurfStitch, Surfdome, SWELL, Magicseaweed and Stab acquired as at 1 July 2013 and are included in all periods shown; Excludes IPO listing, capital raise and acquisition fees

9 STATUTORY EBITDA BRIDGE TO PRO FORMA EBITDA Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Pro forma EBITDA (A$m) Pro forma EBITDA $7.7 Separation costs Quiksilver separation Billabong separation $8.8 Fees & Transaction costs Acquisition of Billabong holding in SurfStitch Acquisition of US asset SWELL from Billabong ASX Listing Acquisition of Surfdome from Quiksilver Acquisition of Stab and Magicseaweed Capital Raise & SPP $14.2 EBITDA from Statutory 1 ($15.4) 1 EBITDA is derived from Statutory Results from Operating Activities less depreciation & amortization expense

10 KEY FINANCIALS BY REGION A$000 FY2015 Asia-Pac Europe North America Group total Revenue $82.9 $87.3 $29.1 $199.4 Growth yoy 44% 22% 17% 30% Gross profit $38.4 $40.2 $13.0 $91.6 Gross profit margin 46.3% 46.0% 44.6% 45.9% Margin improvement 341bps 97bps 465bps 251bps Revenue Contribution by Region Gross Profit Contribution by Region FY2014 FY2015 FY2014 FY2015 16% 15% 15% 14% 37% 42% 37% 42% Asia-Pac Europe North America 47% 44% Asia-Pac Europe North America 48% 44% Note: Pro forma numbers reflect the full period of 1 July 2013 to 30 June 2014 and 1 July 2014 to 30 June 2015, respectively; Exclude Billabong managed websites; Assumes SurfStitch, Surfdome, SWELL, Magicseaweed and Stab acquired as at 1 July 2013 and are included in all periods shown; Excludes IPO listing, capital raise and acquisition fees

11 SURFSTITCH GROUP KEY FINANCIALS Pro forma Consolidated Sales (A$m) Gross profit margin $154.1 $199.4 39.9% 44.6% 45.0% 46.0% 42.9% 46.3% 43.4% 45.9% FY2014 FY2015 Asia-Pac Europe North America North America Europe Asia-Pac Consolidated FY2014 FY2015 Pro forma Consolidated EBITDA (A$m) $5.1 $7.0 $7.7 Pro forma Consolidated Capital Expenditure (A$m) $8.7 million investment in IT $7.3 $6.0 ($3.4) $3.3 $4.4 FY2014 FY15 Prospectus FY15 Upgraded Guidance FY2015 FY2012 FY2013 FY2014 FY2015 IT Warehouse Other Note: Pro forma numbers reflect the full period of 1 July 2012 to 30 June 2012, 1 July 2012 to 30 June 2013, 1 July 2013 to 30 June 2014 and 1 July 2014 to 30 June 2015, respectively; Exclude Billabong managed websites; Assumes SurfStitch, Surfdome, SWELL, Magicseaweed and Stab acquired as at 1 July 2013 and are included in all periods shown; Excludes IPO listing, capital raise and acquisition fees

12 CONSOLIDATED PRO FORMA HISTORICAL PROFIT OR LOSS STATEMENT Consolidated pro forma historical profit or loss statement A$ in millions FY2014 FY2015 % chg Revenue 154.1 199.4 30% COGS (87.2) (107.8) (24%) Gross profit 66.9 91.6 37% Distribution expenses (14.7) (19.4) (32%) Administrative expenses (55.8) (64.6) (16%) Net other income 0.1 0.1 (4%) EBITDA (3.4) 7.7 nm Depreciation and amortisation (4.6) (4.0) 13% EBIT (8.1) 3.7 nm Interest income / (expense) (0.0) 0.5 nm Profit before tax (8.1) 4.1 nm Income tax expense 0.0 0.0 nm NPAT (8.1) 4.1 nm Commentary Revenue growth accelerating Improved inventory management Margin improved 251bps vs prior year Remained flat as a % of revenue Improved 381bps as a % of revenue Group consolidation benefits positively impacting FY15 EBITDA Carry forward tax loss benefits Note: Pro forma numbers reflect the full period of 1 July 2013 to 30 June 2014 and 1 July 2014 to 30 June 2015, respectively; Exclude Billabong managed websites; Assumes SurfStitch, Surfdome, SWELL, Magicseaweed and Stab acquired as at 1 July 2013 and are included in all periods shown; Excludes IPO listing, capital raise and acquisition fees

13 +455BPS IMPROVEMENT IN OPERATING COSTS TO SALES RATIO +455bps improvement in operating costs to sales ratio following regional and business restructuring, shared infrastructure cost savings and economies of scale % of sales 18.0% 16.0% 14.0% +178 bps 12.0% 10.0% (22 bps) +55 bps 8.0% +58 bps 6.0% 4.0% 2.0% +88 bps +98 bps 0.0% Wages Distribution Costs Advertising & Promotion Website Other D&A FY2014 FY2015

14 PRO FORMA OPERATING CASH FLOW BRIDGE Importantly, despite significant investment in working capital to support growth operating cash flow remained broadly neutral FY2015 Pro forma Operating Cash Flow (A$m) Statutory OCF Transaction costs IPO fees Separation costs Pro forma OCF $4.6 ($1.4) $2.9 $9.0 ($17.8)

15 ALL CUSTOMER METRICS TRENDING POSITIVELY AOV (AUD) Basket size Conversion $116 $120 $105 $117 $118 $121 $115 $120 Europe North America Asia-Pacific Consolidated FY2014 FY2015 2.0 2.3% 2.0 2.7% 3.1 2.8% 3.1 2.8% 2.6 2.6 2.4 2.4 Europe North America Asia-Pacific Consolidated +17.2% +0.0% +4.9% +10.1% 3.2% 3.3% 2.7% 2.9% Europe North America Asia-Pacific Consolidated Usage metrics Device by usage User by region Unique monthly Email database App downloads Mobile Retail 49% 47% 51% 53% 18% 17% 38% 40% 40% 34% 44% 6.2m 2.9m 1m Desktop 20% Social followers 529k 1,801k 122k 68% Repeat visitation 24-hours 53% 88% 7-days 50% 47% FY2014 FY2015 Asia-Pac Europe USA

16 INVENTORY STRATEGY DELIVERING A PREMIUM PRICING MODEL PREMIUM PRICING MODEL Large exclusive product ranges in each region First to market product offering Next day delivery to more than 130 countries Consignment and strong rebate / rotation inventory model Male demographic focus (70%), which reduces fast fashion exposure WITH SUSTAINABLE GROSS PROFIT MARGINS Margin protection made possible through exclusive brand and product assortment Benefits of global buying power with a large audience New market focus Unique infrastructure model provides an effective FX hedge Cross regional and counter seasonal sales maximise sell-through at higher gross margins Average price per unit sold (AUD) $150.00 +2.2% FY 2014 FY 2015 $100.00 $50.00 +7.3% +2.3% (2.9%) +11.5% +12.2% +2.7% +11.4% +6.5% $- Mens Womens Kids Footwear Accessories & bags Watches Sunglasses Surf, skate & snow Total

17 SURFSTITCH GROUP IS OUTPERFORMING GLOBAL COMPETITORS FY15 sales growth vs competitors 64% 44% 30% 30% 22% 18% 17% 16% 11% 10% 6% 2% Go Pro SS Asia-Pac SurfStitch Group Boohoo SS Europe Converse SS North America Asos Zumeiz Nike Tillys Pacsun FY15 sales growth by competitor type 64% 44% 30% 23% 22% 17% 6% 4% GoPro SS Asia-Pac SurfStitch Group Pure-play SS Europe SS North America Mono-brand / multi-channel Source: Broker s Research; Company filings Note: Mono- brand / multi-channel includes: Nike,Converse and Quiksilver; Pure-Play includes: Boohoo and Asos; Multi-brand / multi-channel includes: Zumiez, PacSun and Tillys Multi-brand / multi-channel

3.0 STRATEGIC REVIEW

19 TRANSITION TO GLOBAL MEDIA WITH ECOMMERCE Significant shift in how core demographic gets their information & entertainment 2014 Avg min/day using media 65% Engaging in apparel, technology, lifestyle and travel through media, the SurfStitch Group is the voice of our core demographic 3% -36% -10% Engaging millennials in their preferred digital medium -84% Other media Print Radio TV Digital Media Source: J.P. Morgan Media Report Capturing their wallet by offering products that appeal to their interests 15% 5% 32% and advertising is taking notice 2010 11% Source: J.P. Morgan Media Report Ad Spend by Medium 38% 28% 5% 20% 2015 10% 38% TV Radio Print Outdoor Digital Media Global average online purchase intentions 17% Apparel 46% Travel 27% Lifestyle Technology Other 30% Automotive 46% 31% Source: Nielson Global E-Commerce Report

20 TO ACCELERATE GROWTH, WE ARE MAKING A STRATEGIC SHIFT TO A SINGLE ECOMMERCE BRAND Curating a global platform to engage and connect with brands, athletes and action sports enthusiasts One global website with multi-language / multi-currency capabilities CONTENT GENERATION Products span surf, skate, street and snow across apparel, accessories, footwear and hard goods 6 million + action sports enthusiasts Sell to >130 countries with infrastructure in Australia, UK and USA Multi-jurisdiction sale and supply capabilities provide efficiencies and competitive advantages Globally aligned technology, logistics, inventory platform and corporate functions

21 DRIVING SYNERGY BENEFITS ACROSS THE CONSOLIDATED GROUP Estimated annual run-rate synergies of A$12.5m (EBITDA + Capex) realised by FY17 with a positive impact from 2H16 Revenue Costs Enhanced revenue growth: Global unified customer platform driving increased engagement and repeat visitation Expanded platform for stronger brand partnerships, exclusive product lines and premium content delivery Accelerated product speed to market Enriched customer experience at all points of the action sports engagement lifecycle Improved scale in product sourcing Greater efficiency in marketing spend Reduction in expense duplication Optimisation of global logistics Strengthened Brand Partnerships aimed at delivering sustainable price and margin growth Capex Alignment of one global technology platform Optimisation of global logistics Revenues Costs Capex

22 FY2016 OUTLOOK FY16 Guidance Strong double digit revenue growth to continue EBITDA for FY16, with an expected stronger second half, will range between consensus estimates of A$15-18m (growth of 100%+) Additional opportunities for growth exists through acquisitions to support the Group s strategy No dividend currently planned. Cash will continue to be reinvested in growth given recognisable double digit growth opportunities

4.0 APPENDIX

24 GLOBAL REACH WITH BALANCED GEOGRAHPICAL MIX AND LOCAL EXPERTISE Asia-Pacific Europe North America GLOBAL OPERATIONS Ship to over 130 countries, next day 1 order processed every 3 seconds 3 strategically located logistics centres in major action sports markets to maximise delivery speed and customer service Australia, UK, USA Capacity for growth across all logistics centres 6 local offices Australia (Gold Coast, Bondi) UK (London, Devon) USA (Irvine, Venice Beach) Cross regional and cross seasonal fulfillment to maximise gross profit and sales WITH LOCAL PRESENCE 6 local language websites (English, German, Spanish, French, with Portuguese and Japanese going live in 1H FY16) 18 currencies Local payments Dedicated couriers in selected markets to fulfill specific local needs and minimise costs Next-day, Saturday and Sunday delivery in different markets All local hubs equipped with local sourcing, digital production and distribution capabilities in order to: Optimise cost structure Efficiently handle returns (locally, including cross region sales) Minimises impact of FX on product cost and distribution cost while still pricing at local rates

25 TECHNOLOGY PRESENTS OPPORTUNITIES FOR COST AND REVENUE IMPROVEMENTS Tablet and mobile App launches Current status Global content platform development acceleration Time-phased inventory management system Replicable and cost efficient technology to enter into new markets Planning for the future Web to cloud Customised content driven website that s responsive and adaptive to our customers needs Consolidated data analytics Global platform migration to one shared platform Key initiatives Zonal Improved mobile and tablet platforms Further dedicated local market platforms

26 STATUTORY CONSOLIDATED STATEMENT OF PROFIT OR LOSS Statutory profit or loss for the period 13 October 2014 to 30 June 2015 Continuing operations (A$ millions) Revenue $97.9 COGS (60.6) Gross Profit $37.3 Other income 0.0 Selling and distribution expenses (41.3) Administrative expenses (7.4) Other expenses (6.6) Results from operating activities ($18.0) Finance income 0.1 Finance costs (0.0) Net finance income 0.1 Loss before tax ($17.8) Income tax benefit 3.6 Loss from continuing operations ($14.2)

27 STATUTORY CONSOLIDATED STATEMENT OF FINANCIAL POSITION Statutory financial position as at 30 June 2015 A$ in millions As at 30 June 2015 Assets Cash and cash equivalents $40.8 Trade and other receivables 2.0 Inventories 43.3 Other current assets 2.5 Total current assets $88.6 Deferred tax assets 5.8 Property, plant and equipment 3.3 Intangible assets and goodwill 81.7 Total non current assets $90.8 Total assets $179.4 Liabilities Trade and other payables 36.1 Employee benefits 1.5 Provisions 4.0 Total current liabilities $41.6 Non current employee benefits 0.3 Total liabilities $41.9 Net assets $137.5 Equity Share capital 248.3 Reserves (63.5) Retained Earnings (47.3) Total equity $137.5

28 STATUTORY CONSOLIDATED STATEMENT OF CASH FLOW Statutory cash flow for the period 13 October 2014 to 30 June 2015 A$ in millions Cash flows from operating activities Cash generated from/(used in) operating activities ($17.8) Interest paid (0.0) Total current assets ($17.8) Cash flows from investing activities Interest received 0.1 Acquisition of subsidiary, net of cash acquired (58.6) Acquisition of property, plant and equipment, net of disposals (0.6) Acquisition of intangible assets, net of disposals (2.7) Total cash used in investing activities ($61.8) Cash flows from financing activities Proceeds from share capital 125.7 Transaction costs related to the issue of share capital (4.4) Total cash used in financing activities $121.3 Net increase/(decrease) in cash and cash equivalents $40.8 Cash and cash equivalents at 13 October 2014 - Effect of exchange rate fluctuations on cash held (0.0) Cash and cash equivalents at 30 June 2015 $40.8

29 KEY TERMS & DEFINITIONS Revenue Sales through our internet sites, includes retail sales, freight revenue Excludes any Billabong Managed sites After returns and GST AOV Total order value including VAT and before returns / total orders Basket size Total orders divided by total units sold, before returns

30 DISCLAIMER This presentation and information communicated verbally to you may contain certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of SurfStitch Group Limited ( SurfStitch Group ). These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Nothing contained in this presentation or communicated verbally should be construed as a profit forecast or profit estimate. Investors or other recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. SurfStitch Group undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances. Neither this presentation nor any verbal communication shall constitute an invitation or inducement to any person to subscribe for or otherwise acquire securities in SurfStitch Group.