Amer Sports Annual General Meeting

2015 – Sixth consecutive year of profitable growthMarch 8, 2016 – Heikki Takala, President and CEO

2015: Another record year

• Net sales EUR 2,534.4 million (2,228.7), +6%. Excl. acquisitions +5%*.

– Broad-based growth in line with the strategy

– Renewal in underperforming units

• Gross margin 45.2% (43.9%)

• EBIT EUR 212.1 million (168.3), EBIT margin 8.4% (7.6%)**

• Free cash flow EUR 121.7 million (53.5), 100% of net profit

• Balance sheet strengthened: net debt / EBITDA 1.7 (2.0)**

8 March 2016 Amer Sports AGM 20162

* In local currencies

** Excl. NRI

Progress vs. financial targets set in 2010

3

Target 2009 2010 2011 2012 2013 2014 2015

GrowthDelivering organic,

currency-neutral

annual growth of 5%

-4% 8% 9% 5% 8% 6% 5%

ProfitabilityEBIT of at least 10%

of net sales3.2% 6.2% 7.2% 6.7% 7.3% 7.6% 8.4%

Cash flowAnnual free cash

flow equal to net

profit

4.5 0.7 -0.2 0.9 0.5 0.6 1.0

Balance

sheet

Year-end Net Debt /

EBITDA ratio of 3

or less

3.6 2.2 2.3 2.5 2.2 2.0 1.7

Amer Sports AGM 20168 March 2016

Profitable growth and improvement have created shareholder value

8 March 20164

Amer Sports +285%, TSR 352%SP500 +82%

OMX Helsinki CAP +43%

Amer Sports AGM 2016

-50 %

0 %

50 %

100 %

150 %

200 %

250 %

300 %

350 %

Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15

Amer Sports OMXHCap S&P 500 Index

Dec-15

Progress in the strategy execution in 2015

We reached several milestones in 2015

• Company Gross Margin above 45%

• Softgoods EUR 900 million, up by EUR 600 million vs. 6 years ago

• Business to Consumer 7% of the Group (1% in 2010)

• Sales in China x5 vs. 6 years ago

• Connected devices sales 7% of the Group (0% in 2010)

• Winter Sports Equipment profitability improved in a mild winter

• Wilson early turn-around

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Examples of the progress:

Consumer-driven innovation drives growth

8 March 20167 Amer Sports AGM 2016

Examples of the progress:

+40 stores, +9 e-commerce stores in 2015

8 March 20168 Amer Sports AGM 2016

Arc’teryx in London

Atomic custom studio

Examples of the progress:

Renewal and growth through digitalization

8 March 20169 Amer Sports AGM 2016

In 2015 we also started to accelerate through selective acquisitions

Queenax

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Louisville Slugger

Sports Tracker

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Amer Sports equipping the brightest stars in the world

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Outlook

Outlook for 2016

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• In 2016, Amer Sports net sales in local currencies are expected

to increase and EBIT margin excluding non-recurring items to

improve from 2015, despite challenging market conditions.

• The company will focus on growing the core business and

accelerating five prioritized areas: Apparel and Footwear, US,

China, Business to Consumer, as well as digitally connected

devices and services.

Amer Sports AGM 2016

Accelerating toward 2020

New 5-year strategic glidepath in place

• New financial targets

• Focus on accelerating profitable growth especially in the 5

prioritized areas:

– Apparel and Footwear (2020 target: MEUR ~1,500)

– US (MUSD ~1,500)

– China (MEUR ~200)

– Business to Consumer (MEUR ~400+)

– Digitally Connected Devices and Services (MEUR ~600+)

• Attractive returns behind profitable growth and ongoing

company transformation

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Prioritized, sequenced program continues

16

• Sustainable Growth Model

• Integration

• Acquisition readiness

• On-going renewal and

acceleration

Net sales ≥3.5 BEUR,

improving EBIT-%

Continuous portfolio

transformation toward:

• Faster growth

• Higher profitability

• Asset efficiency

~2010 – 2013 ~2014 – 2015 ~2016 – 2020

• New strategy

• Transformation from

Hardgoods to ”Hybrid”

• Drive organic growth

• Operational excellence

Net sales

1.5 BEUR,

EBIT-% 4%

Net sales 2+ BEUR,

EBIT-% 7%

Net sales ~2.5 BEUR,

EBIT-% toward 10%

Amer Sports AGM 20168 March 2016