Our Share

In 2025, financial markets proved resilient while navigating heightened volatility from historic tariff shocks, sticky inflation, geopolitical tensions and concerns about an AI-driven valuation bubble. It was the first year since the pandemic in which all major asset classes delivered positive returns. Stock markets ultimately posted broad‑based gains, with several major indices reaching record highs, and after years of relative underperformance, non‑US markets outpaced U.S. indices. Against this backdrop, German indices posted double-digit gains, with the DAX up 23%, and the MDAX rising 20%.

Sector performance, however, was highly divergent. While technology‑heavy names benefited from risk appetite, consumer‑facing stocks lagged, with the MSCI World Textiles, Apparel & Luxury Goods ending the year up 3%. After a prolonged period of outperformance, the premium/luxury goods sector moved out of favor, and investors rotated into other sectors as FX headwinds, muted consumer confidence, tariff uncertainty and nervousness about price elasticity weighed on margins and growth prospects. Elevated valuation premia and uncertainty around the timing and strength of any recovery in Chinese demand left the sector under‑owned and highly sensitive to macro and currency shifts.

Against this backdrop, HUGO BOSS shares declined 19% to EUR 36.15 (2024: EUR 44.78), underperforming both the broader market and the sector. In addition to the sector‑wide headwinds, our share price was impacted by a normalization of previously elevated market expectations for 2025, which were gradually adjusted over the course of the year. Furthermore, uncertainty in the market regarding the Company’s future strategic course contributed to investor caution. With the presentation of the strategic framework CLAIM 5 TOUCHDOWN in December 2025, we provided clarity on our future direction and explicitly positioned 2026 as a year of realignment and refocus, laying the foundation for sustainable, profitable growth from 2027 onwards.

At the end of 2025, the HUGO BOSS share (ISIN DE000A1PHFF7), listed in the German MDAX, ranked 79th in Deutsche Börse’s free-float-adjusted market capitalization ranking (2024: 72nd), based on the total number of companies in the DAX, MDAX, and SDAX. The weighting of the HUGO BOSS share in the MDAX decreased to a level of 1.0% at the end of 2025 (December 31, 2024: 1.5%). On average, around 350,000 shares were traded on Xetra in 2025 per day (2024: around 400,000).

As of December 31, 2025, Frasers Group plc directly held 25.21% of the voting rights, according to the voting rights notification of June 23, 2025, while a further 32.00% was being held through instruments. PFC S.p.A. and Zignago Holding S.p.A., both controlled by the Marzotto family, held a combined stake of 14.15% as of December 31, 2025, based on the most recent voting right notifications of September 24, 2025. Both companies have pooled their shares through a shareholder agreement. As of December 31, 2025, HUGO BOSS itself continued to hold 1,383,833 own shares, purchased as part of a share buyback program between 2004 and 2007. This corresponds to a share of 1.97% or EUR 1,383,833 of the share capital. The remaining 59% of shares were held in free float. Legal Disclosures

At the Annual General Meeting 2025, HUGO BOSS was granted a renewed authorization to buy back shares up to a proportion of 10% of the outstanding share capital on or before May 14, 2030. The Company did not make use of this authorization as of December 31, 2025. Legal Disclosures

Supported by the Company’s robust fundamentals, including strong free cash flow generation and a solid balance sheet, and reflecting Management’s confidence in the future development of HUGO BOSS, the Managing Board has decided to launch a share buyback program, further strengthening shareholder value creation. Until December 31, 2027, HUGO BOSS plans to buy back shares in an amount of up to EUR 200 million. The share buyback shall be financed through the Company’s continued free cash flow generation, with HUGO BOSS intending to cancel the repurchased shares. At the same time, HUGO BOSS remains fully committed to preserving the financial flexibility required to consistently execute its strategy, invest in future growth, and further strengthen its balance sheet amid an ongoing volatile environment. In this context, and reflecting a disciplined capital allocation approach, the Managing Board and the Supervisory Board intend to propose to the Annual General Meeting on May 21, 2026, to only pay the legal minimum dividend of EUR 0.04 per share for fiscal year 2025 (2024: EUR 1.40). Outlook

In fiscal year 2025, members of the Supervisory Board acquired additional HUGO BOSS shares. Details of all transactions conducted by the Managing Board and the Supervisory Board on their own account, as reported to HUGO BOSS in accordance with Article 19 of regulation (EU) No. 596/2014 (Market Abuse Regulation), are available on the Company’s website at financialreleases.hugoboss.com. By the end of fiscal year 2025, members of the Managing Board and the Supervisory Board continued to hold around 1.5% of the shares issued by HUGO BOSS. Notes to the Consolidated Financial Statements, Note 25

The Company received several voting rights notifications from institutional investors in fiscal year 2025. The original wordings of these notifications are published on our corporate website at financialreleases.hugoboss.com.

HUGO BOSS regularly analyzes its shareholder base to target institutional investors more effectively. Besides the regional distribution of institutional investors, these analyses also determine the proportion of private shareholders, which remained broadly stable at around 10% of issued capital in 2025 (2024: 11%). The total number of shareholders is estimated at approximately 40,000 as of December 31, 2025, consistent with the prior year.

HUGO BOSS maintains a close dialog with capital market participants and is continuously monitored by a large number of financial analysts, with 17 analysts regularly publishing research reports on HUGO BOSS in 2025 (2024: 21 analysts). As of December 31, 2025, 24% of our analysts recommended to buy (2024: 43%), 65% to hold (2024: 48%), and 12% to sell our share (2024: 10%), coupled with an average target price of EUR 39.45 (2024: EUR 47.07).

HUGO BOSS ensures timely and transparent communication on its business development and financial performance through comprehensive Investor Relations activities. We engage with institutional investors at national and international conferences and roadshows, while also attending events for private shareholders. As part of our Strategy Update in December 2025, HUGO BOSS presented CLAIM 5 TOUCHDOWN, setting out a clear strategic framework until 2028 and providing an initial outlook for fiscal year 2026. The event was held in a virtual format, deliberately chosen to enable efficient access for institutional investors and financial analysts worldwide, and to facilitate real-time interaction with the Managing Board. Subsequent roadshow activities, including targeted investor meetings and a dedicated sell-side breakfast session, provided additional opportunities for in-depth, face-to-face interactions with Managing Board members. Our Investor Relations website group.hugoboss.com/investors, serves as a key platform for detailed information, including press releases, voting rights notifications, financial reports, and the financial calendar. In 2025, the Investor Relations team received notable external recognition, including second place for “Best Investor Relations Professional MDAX” at the “Deutscher Investor Relations Preis,” as well as being honored in several categories within the prestigious “Investors’ Darling.” irawards.hugoboss.com

In line with our strong commitment to environment, social, and governance (ESG) aspects, these are firmly integrated in our Investor Relations activities. In recognition of the strategic importance of ESG factors to our business activities, we address growing investor expectations and evolving regulatory requirements through transparent reporting and ongoing dialog with the capital markets. HUGO BOSS discloses its performance in key ESG ratings and rankings, including ISS ESG Corporate Rating, MSCI ESG Rating, Sustainalytics ESG Risk Rating, CDP (Climate and Water Security) and Corporate Sustainability Assessment (CSA), in a transparent manner on its Investor Relations website. Based on the results of the annual CSA conducted by S&P Global, HUGO BOSS was again included in the Dow Jones Best-in-Class World and Europe Indices in 2024. Due to a change in S&P Global’s publication timeline, the index inclusion status for 2025 has not yet been announced as of December 31, 2025. group.hugoboss.com