HERMES

Quarterly information report as at the end of March 2015

Sustained sales growth in the first quarter: +19% at current exchange rates and +8% at constant exchange rates

Paris, 29 April 2015

Consolidated revenues amounted to €1,122.2 million in the first quarter, up 19% at current exchanges rates. Before adjustment for the positive currency effect, growth was 8% at constant exchange rates.

The group's stores posted a remarkable increase in sales (+10% at constant exchange rates).

Sales by region at the end of March

(at comparable exchange rates, unless otherwise indicated)

During the first quarter 2015, all the regions progressed:

 Japan continued its excellent growth (+15%), thanks to a highly selective distribution network and despite a high comparison basis in 2014,

 Asia excluding Japan (+8%) pursued its progress, in a more challenging environment in

Hong Kong and Macao,

 America confirmed its potential for development (+10%), despite a particularly high comparison basis,

 Europe (+5%), which extended and renovated the Bond Street store, continued to grow, particularly in Group stores, both in France and in other countries in the region.

Sales by sector at the end of March

(at comparable exchange rates, unless otherwise indicated)

Demand for Leather Goods and Saddlery products (+12%) remained high. Production capacities continued to increase as the two sites in Isère and Charente gained momentum and work commenced on two new workshops in Franche-Comté.

The Ready-to-wear and Accessories division (+10%) benefitted from the success of fashion accessories, particularly the latest shoe collections.

The Silk and Textiles business line, whose range is expanding with some exceptional products, posted a 6%

rise.

After launching Jour d'Hermès Absolu and Terre d'Hermès eau très fraiche early in 2014, the Perfumes division recorded a slight increase (+1%).

Watches, which were down slightly (-3%), presented the new Slim d'Hermès model at the Basel watch fair where it was given an excellent reception.

Driven by Jewellery, Other Hermès business lines (+8%) continued their development, despite a particularly high comparison basis.

First quarter highlights

At the end of March, currency fluctuations were favourable, representing a positive impact of €103 million on revenues.

During the first quarter, Hermès International redeemed 2,227 shares for €0.7 million, outside transactions completed within the framework of the liquidity contract.

Outlook

Despite the economic, geopolitical and monetary uncertainties around the world, the objective for revenue growth in the middle term at constant exchange rates is c.8%.

Thanks to the success of its unique business model, Hermès will continue its long-term development strategy based on creativity, maintaining control over know-how and securing supply.

Ever loyal to its Parisian roots, Hermès invites us to stroll through 2015, taking a step back from the world around us to embrace it with our eyes wide open: a chance encounter, an enjoyable discovery or the benefits of a short break.

INFORMATION BY GEOGRAPHICAL ZONE (1) 1st quarter Evolutions In millions of Euros 2015 2014 Published At constant exchange rates

France 155.4 146.0 6.4% 6.4% Europe (excl. France) 192.4 183.2 5.0% 3.1% Total Europe 347.8 329.2 5.6% 4.6% Japan 141.6 116.7 21.3% 15.2% Asia Pacific (excl. Japan) 417.0 329.3 26.6% 7.7% Total Asia 558.6 446.0 25.2% 9.6% Americas 194.5 150.1 29.6% 9.6% Other 21.3 18.1 17.7% 17.0% TOTAL 1,122.2 943.5 18.9% 8.0%
(1) Sales by destination.

INFORMATION BY SECTOR 1st quarter Evolutions In millions of Euros 2015 2014 Published At constant exchange rates

Leathergoods and Saddlery (1) 511.3 409.9 24.7% 12.4% Ready-to-wear and Fashion
accessories (2) 262.3 214.6 22.2% 9.8%
Silk and Textiles 133.9 114.5 17.0% 5.9% Other Hermès sectors (3) 72.2 60.5 19.5% 8.1% Perfumes 62.0 60.8 2.0% 0.8% Watches 35.7 32.8 8.8% (3.1)% Other products (4) 44.7 50.3 (11.3)% (14.5)% TOTAL 1,122.2 943.5 18.9% 8.0%
Tableware sales are from now on included in Other Hermès sectors (for La Table Hermès) and in Other products
(for Saint Louis and Puiforcat). The effect of this reclassification is presented retrospectively.
(1) Leathergoods & Saddlery include bags & luggages, horse riding, memory holders and small leather goods.
(2) Ready-to-wear and Fashion accessories include ready-to-wear, men and women, belts, accessories jewellery, gloves, hats and Hermès shoes.
(3) Other Hermès sectors include jewellery and Hermès Maison products (Art of Living and La Table Hermès)
(4) Other products include John Lobb shoes, Saint-Louis, Puiforcat, Shang Xia as well as production activities realized for third parties (textile printing, perfumes, tanning…).

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