Luxottica reported solid first quarter 2014 results with sales growing 4.2% at constant exchange rates. Wholesale sales increased 7.9% driven by strong growth in Europe and emerging markets. Retail comparable store sales grew 1.9% despite challenges in North America from harsh winter weather. The company delivered improved operating leverage of 60 basis points at constant exchange rates and maintained a net debt to EBITDA ratio of 1.0 times. Luxottica entered the second quarter with continued positive sales momentum and an excellent reception of new sun collections.

1. Q
Mil A il 29 2014
1Q 2014 results
Milan, April 29, 2014

2. FORWARD LOOKING STATEMENTS
Certain statements in this investor presentation may constitute “forward-looking statements” as defined in the Private
Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause
actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited
t bilit t th ff t f t i l b l i diti b i fl t ti i hto, our ability to manage the effect of uncertain global economic conditions on our business, fluctuations in exchange
rates, our ability to successfully acquire new businesses and integrate their operations, our ability to predict future
economic conditions and changes in consumer preferences, our ability to successfully introduce and market new products,
our ability to maintain an efficient distribution network, our ability to achieve and manage growth, our ability to negotiate
and maintain favorable license arrangements, the availability of correction alternatives to prescription eyeglasses, changes
in local conditions, our ability to protect our proprietary rights, our ability to maintain our relationships with host stores, any
failure of our information technology, inventory and other asset risk, credit risk on our accounts, insurance risks, changes
in tax laws, as well as other political, economic, legal and technological factors and other risks and uncertainties described
in our filings with the US Securities and Exchange Commission. These forward-looking statements are made as of the
date hereof, and we do not assume any obligation to update them.
This investor presentation contains measures that were not prepared in accordance with IAS/IFRS. For a
reconciliation of non-IAS/IFRS measures used in these materials, see the Company’s press release titled
“Luxottica: solid and balanced growth in the first quarter of 2014” dated April 29, 2014, available on the
company’s website www luxottica com under the Investors tabcompany s website www.luxottica.com under the Investors tab.

3. DELIVERING SOLID SALES
4 2% t t t f+4.2% at constant forex(1)
› Wholesale sales +7.9% at constant forex(1)
• Strong growth in Europe
• Solid North America
S d i d 2Q d f li• Sound consumer environment and 2Q order portfolio
in emerging markets
› Retail comps(2) +1.9%
• Sunglass Hut net sales up by 11% at constant
forex(1)forex(1)
• Robust contribution from emerging markets
• North America challenged by weather: LensCrafters
1Q 2014 results 3
comps(2) -1.8%

4. DELIVERING ON OPERATING LEVERAGE
› Solid Group operating leverage: +60bps at
constant forex(1)
• Wholesale profitability up by 90bps at constant
forex(1)
• Retail margin: +20bps at constant forex(1)
despite a softer North America performancedespite a softer North America performance
› Net debt/EBITDA(3): 1.0x(3)
• Strong free cash flow(3) generation
• Good control of working capital: -21 days
1Q 2014 results 4
g p y

5. 1Q 2014 GROUP SALES LED BY EUROPE AND EMERGING MARKETS
Europe
+9%(1)
North America
+1%
Emerging markets
+10%(1)
US$
Retail comps(2): flatWholesale: +7%
5
For additional disclosures regarding information in this presentation, please see “Notes to the presentation” in the Appendix. Sales performance includes wholesale and retail.
1Q 2014 results

6. REVENUE ROADMAP BY GEOGRAPHY
North America
(1)
Western Europe Emerging markets
+19% +16-20%
holesale
+9%
+7%
+7-9%
flat
+4-6%+7% +7%
Wh
Optical AustraliaNorth America Emerging markets
1Q 2013 1Q 2014 2014E
flat
1Q 2013 1Q 2014 2014E
1Q 2013 1Q 2014 2014E
ail(2)
Optical AustraliaNorth America Emerging markets
+3-6%
+10%
+13% +13-16%
+8% +5-7%
+15
Reta
+3%
+flat
1Q 2013 1Q 2014 2014E 1Q 2013 1Q 2014 2014E
+2%
1Q 2013 1Q 2014 2014E
6
For additional disclosures regarding information in this presentation, please see “Notes to the presentation” in the Appendix
1Q 2014 results

7. 1Q 2014 NORTH AMERICA
H h i t t k it t ll i J & F b t di d i A ilHarsh winter took its toll in January & February, trending upward in April
› Building on wholesale’s sound momentum: +7.0%
in US$
› 1Q14 retail flat comps(2), improving since April› 1Q14 retail flat comps(2), improving since April
• A solid start to the year at Sunglass Hut: 1Q comps(2)
+3.3%, accelerating to double-digits in April
• Good conversion rate at LensCrafters did not offset a
decrease in traffic, primarily driven by older consumers
suffering from colder temperaturessuffering from colder temperatures
- Gaining traction after adverse weather: 1Q comps(2)
-1.8%, turning positive in April at approx. +2%
1Q 2014 results 7

8. LENSCRAFTERS
O j t d t t iOn a journey towards a more contemporary customer experience
› Confirming 2014 outlook
• Comps(2) between +1% and +3%
• Continuous focus on improving profitability
› Moving forward with a focused action plan
• Already in place: CRM and marketing plans, engagement
of field management
• To be implemented by June: new store segmentation,
new product assortment strategies, new entry price
segment
1Q 2014 results 8

9. 1Q 2014 EUROPE
C fi i t tConfirming strong momentum
› Steady start to the year across all markets
› Continental Europe: +11%(1)
• Double-digit wholesale sales growth in Germany, UK
and Nordics
› Mediterranean Europe: +7%
• Spain: nine consecutive months of positive wholesale
sales and strong comps at Sunglass Hutsales and strong comps at Sunglass Hut
• Italy: positive sales benefiting from a contemporary
distribution model
1Q 2014 results 9

10. 1Q 2014 EMERGING MARKETS
› Solid wholesale underlying growth, backed by a strong
portfolio of orders for 2Qportfolio of orders for 2Q
• Strong sell-in in 4Q13, 1Q14 deliveries brought forward
St ti l t il f› Strong optical retail performance
• LensCrafters in China: double-digit growth in comps for the
third consecutive year driven by sun
- Store openings on track: +23 stores vs. 1Q13
• High-single digit comps growth at GMO in Latam
› Strong Sunglass Hut performance in Brazil, Mexico
and South Africa
1Q 2014 results 10

11. 1Q 2014 SALES PERFORMANCE
C h d i d tiCurrency headwinds continue
1 2 %
At constant forex(1)
+4 2%
-1.2 %
+4.2%
Wholesale at constant forex(1)
+7.9%
Retail compsRetail comps(2)
+1.9%
11
For additional disclosures regarding information in this presentation, please see “Notes to the presentation” in the Appendix
1Q 2014 results

12. CURRENCY EVOLUTION
1H 2013 2H 2013 1Q 2014∆ vs. Euro
US Dollar -1.2% -5.1% -3.6%
Australian Dollar -3.0% -15.8% -16.8%
Brazilian Real -9.5% -15.0% -18.7%
Chinese Renminbi +0 8% -2 2% -1 6%Chinese Renminbi +0.8% -2.2% -1.6%
Japanese Yen -17.6% -24.0% -13.5%
121Q 2014 results

13. CURRENCY IMPACT
∆ vs previous period 1H 2013 2H 2013 1Q 2014∆ vs. previous period 1H 2013 2H 2013 1Q 2014
Impact on net sales 1 8% 7 1% 5 4%Impact on net sales -1.8% -7.1% -5.4%
Impact on operating margin -30bps -90bps -60bps
131Q 2014 results

14. STRONG OPERATING LEVERAGE AT CONSTANT FOREX
1Q 2014 Group (€ mn) 1Q 2014 Wholesale (€ mn)p ( )
14.7% 14.7%
+60bps
@ c.fx.(1)
188 194
+90bps
@ c.fx.(1)
24.1% 24.1%
275 270
1Q 2013 1Q 2014
1Q 2014 Retail (€ mn)
132 124
+20bps
@ c.fx.(1)
12.2% 12.0%
1Q 2013 1Q 2014
132 124
1Q 2013 1Q 2014
@ c (1)
For additional disclosures regarding information in this presentation, please see “Notes on the presentation” in the Appendix
1Q 2014 results 14

15. NET INCOME AND EPS
1Q 2014 Group (€ mn) 1Q 2014 EPS (€ cents)p ( )
159 157
34 33
8.5% 8.5%
+50bps @ c.fx(1)
-2.0%
159 157
$
34 33
1Q 2013 1Q 2014
1Q 2014 EPS (US$ cents)
45 45
+1.7%
1Q 2013 1Q 2014 1Q 2013 1Q 2014
1Q 2014 results 15
For additional disclosures regarding information in this presentation, please see “Notes on the presentation” in the Appendix

16. DEBT OVERVIEW
Net debt/EBITDA(3) flat @ 1.0x:
• Further reduction of net debt 1,461
1,429
Net debt(3) (€ mn)
• Acquisition of Glasses.com
,
FY 2013 1Q 2014
Strong free cash flow(3) generation in 1Q
• Good control of working capital
• Capex increase from €69 million to €81 million
4 60
Free cash flow(3) (€ mn)
p
∆ days Operating working capital (€ mn)
1Q 2013 1Q 2014
• DSO -4
• DSI -17
• DPO flat
-245 -217
1Q 2013 1Q 2014
161Q 2014 results
For additional disclosures regarding information in this presentation, please see “Notes on the presentation” in the Appendix

17. 2014 “RULE OF THUMB”
% growth vs. 1Q13
(@ constant forex(1))
HIGH SINGLE-DIGITSALES GROWTH +4%
2x SALES GROWTHOPERATING INCOME +8%
2x SALES GROWTHNET INCOME +10%
0.75xNET DEBT/ EBITDA(3) 1.0x
171Q 2014 results
For additional disclosures regarding information in this presentation, please see “Notes on the presentation” in the Appendix

18. SHAPING THE INDUSTRY
2014 t i2014 new entries
› Glasses.com
• Unique virtual 3D try-on technology to create an
enhanced optical online experience
› Google Glasses
• Strategic partnership to develop innovative
iconic wearable devices
› Michael Kors
• A new and exclusive 10-year license agreement
1Q 2014 results 18
A new and exclusive 10 year license agreement

19. OPTIMISM AHEAD: ENTERING 2Q WITH SOLID TRADING ENVIRONMENT
› Positive sales momentum continues
› Ongoing adverse impact from currencies,
expected to ease in 2H
› Portfolio of orders up double-digits
• Excellent reception of new sun collections
› Retail building momentum› Retail, building momentum
• North America: April accelerating vs. 1Q
1Q 2014 results 19

20. OneSight is expanding sustainable models to provide access to affordable vision care in underserved
communities worldwide. Since 1988, OneSight has engaged thousands of skilled volunteers across Luxottica
and other industry partners to hand-deliver the gift of sight to 8.6 million people in 40 countries.y p g g p p
Q1 2014 RESULTS
Vision care programs
OneSight helped 240,000 people through 10 vision clinics and community outreach programs
Research foundation
Awarded research grants totaling $209,500 to organizations focused on diabetic eye diseases
Sustainable development initiatives
OneSight Brings Sustainable Access to
Vision Care to New York City Students
Sustainable development initiatives
In 2014 OneSight is expanding models to provide sustainable access to affordable vision care. Building on
the success of the vision center in Farafenni, The Gambia, a country in West Africa that previously had 1
optometrist to serve 1.8 million people, OneSight will open 3 more vision centers and a central manufacturing
lab. To date, nearly 4,000 Gambians in Farafenni have received an eye exam. The new centers in Bansang,
1.1 million children are part of the New York
City public school system. Forty percent of
families in the district are living below the
poverty line and one in 20 students is
homeless For many access to vision carelab. To date, nearly 4,000 Gambians in Farafenni have received an eye exam. The new centers in Bansang,
Kanifang and Brikama will reach thousands more. OneSight is also replicating the school-based model in the
United States based on the success of the vision center at Oyler School in Cincinnati, Ohio. This fall
OneSight will open two new vision centers in New York City. The vision centers will be located in Brooklyn
and the Bronx and are estimated to serve nearly 5,000 students annually.
homeless. For many, access to vision care
services is impossible. For students like DJ, a
fifth grader at PS 188 in Brooklyn, the new
OneSight vision center means an opportunity
to see and learn their best.
2014 Sustainable Vision Center
OneSight 20

21. Sistemare la foto
APPENDIX
21
APPENDIX
Appendix

22. NOTES ON THE PRESENTATION
› 1 Figures at constant exchange rates are calculated
using the average exchange rates in effect during the
corresponding period of the previous year. Please refer
t th “M j i ” t bl i th l titl d
› 3 Net debt/EBITDA, net debt/adjusted EBITDA, net
debt, EBITDA, adjusted EBITDA, adjusted
operating income, adjusted operating margin,
dj t d t i dj t d i hto the “Major currencies” table in the press release titled
“Luxottica: solid and balanced growth in the first quarter
of 2014” dated April 29, 2014 available at the
www.luxottica.com website under the Investors tab.
adjusted net income, adjusted earnings per share
and free cash flow are not measures in accordance
with IAS/IFRS. For additional disclosure, see the
press release titled “Luxottica: solid and balanced
› 2 Comparable store sales reflect the change in sales
from one period to another that, for comparison
purposes, includes in the calculation only stores open in
the more recent period that also were open during the
press release titled Luxottica: solid and balanced
growth in the first quarter of 2014” dated April 29,
2014 available at the www.luxottica.com website
under the Investors tab.
the more recent period that also were open during the
comparable prior period, and applies to both periods the
average exchange rate for the prior period and the
same geographic area.
› 4 Excluding non-recurring items
› 5 Equals interest income minus interest expenses
› 6 Equals extraordinary income minus extraordinaryq y y
expenses
› 7 Net debt figures are calculated using the average
exchange rates used to calculate EBITDA figures
Appendix 22

23. SALES BREAKDOWN
WHOLESALE SALES BREAKDOWN FOR 1Q 2014RETAIL COMPARABLE STORE SALES(2) FOR 1Q 2014
Optical North America
Wholesale sales: +8%(1)
(S l b kd b i 1Q 2014)
Optical North America
• LensCrafters -1.8%
38%10%
(Sales breakdown by region, 1Q 2014)(1)
RoW
Western Europe
• Licensed brands +2.2%
26%
Emerging
markets
Optical Australia/New Zealand +2.1%
Sunglass Hut worldwide +5.9%
26%
North America
YoY changes by region 1Q 2014Sunglass Hut worldwide 5.9%
Group retail +1.9%
Western Europe +7%
North America +7%
Emerging markets +7%
YoY changes by region, 1Q 2014(1)
23
Emerging markets 7%
RoW +15%
Appendix

24. DEBT OVERVIEW
1Q 20131Q 2013 1Q 20141Q 2014
Dec. 31,
2013
Dec. 31,
2013
March. 31,
2014
March. 31,
2014
∆∆
EBITDA(3) 365 360
∆ working capital (254) (182)
Net US$ debt(3) (518) (587) (69)
Net € debt(3) (1,086) (1,003) 83
Capex (69) (81)
Operating cash
flow
42 97
Translation adj. 1
€ 1 = US$ 1.3791 1.3788
Net debt (€) (1 461) (1 429) 32
Financial charges(5) (24) (23)
Taxes paid (14) (15)
Net debt (€)(3) (1,461) (1,429) 32
Net debt/adj.
EBITDA(3)(4)
1.0x 1.0x
Net debt/adj
Extraordinary
charges(6)
(0) 1
Free cash flow(3)
4 60
Net debt/adj.
EBITDA
excluding
exchange rate
effect
1.0x 1.0x
Appendix 24
4 60 effect(3)(4)(7)

25. INVESTOR RELATIONS TEAM
Alessandra Senici
Tel. +39 (02) 8633 - 4662
alessandra senici@luxottica com
Upcoming events
› July 24 – 2Q 2014 results
alessandra.senici@luxottica.com
Nicoletta Russo
Tel. +39 (02) 8633 - 4718
nicoletta russo@luxottica com
› October 29 – 3Q 2014 results
http://www.luxottica.com/en/company/investors/financial-calendar
nicoletta.russo@luxottica.com
Elena Dimichino
Tel. +39 (02) 8633 - 4038
l di i hi @l ttielena.dimichino@luxottica.com
Elisa Cattaruzza
Tel. +39 (02) 8633 - 4870
elisa.cattaruzza@luxottica.com
www.luxottica.com
Contacts 25

26. SOCIAL MEDIA CONTACTS
http://www.luxottica.com pinterest.com/Luxotticagroup
@Luxottica instagram.comLuxotticagroup
Like our LuxotticaGroup page
t b /l tti
slideshare.netLuxotticaGroup
youtube.com/luxotticagroup
LinkedIn.com/company/Luxottica_Group
Contacts 26