Date: 07 March 2022

Frasers Group Plc

("Frasers Group" or the "Company")

Strategic Investment in Hugo Boss AG

Frasers Group is pleased to announce that it has recently increased its investment in Hugo Boss AG, and now has the following interests in the common stock:

·    3,137,900 shares of common stock, representing 4.5% of Hugo Boss's total share capital

·    9,665,000 shares of common stock via the sale of put options, representing 13.7% of Hugo Boss's total share capital

After taking into account the premium it will receive under the put options, Frasers Group's maximum aggregate exposure in connection with its acquired interests in Hugo Boss, with the common stock holding valued at the closing share price on 7 March 2022, is approximately €475m (c. £390m).

This investment reflects Frasers Group's belief in the Hugo Boss brand, strategy and management team. Frasers Group continues to intend to be a supportive stakeholder and create value in the interests of both Frasers Group's and Hugo Boss' shareholders.

Ends.

Frasers Group Plc                          T. 0344 245 9200

Tom Piper, Company Secretary    E. investor.relations@frasers.group

LEI: 213800JEGHHEAXIJDX34