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November

20 th

2015Recommendedofferfor Darty plc

2 jurisdiction. person.

Disclaimer

3

FnacorDarty,asappropriate.

The Proposed Acquisition relates to the shares of a UK company and a French company and is subject to UK and French procedural and disclosure requirements that are different from those

of the US. Any financial statements or other financial information included in this presentation may have been prepared in accordance with non-US accounting standards that may not be

comparable to the financial statements of US companies or companies whose financial statements are prepared in accordance with generally accepted accounting principles in the US. It

may be difficult for US holders of shares to enforce their rights and any claims they may have arising under the US federal securities laws in connection with the Proposed Acquisition, since

Fnacand Dartyare located in countries other than the US, and some or all of their officers and directors may be residents of countries otherthan the United States. US holders of shares in

Fnacor Dartymay not be able to sue Fnac, Dartyor their respective officers or directors in a non-US court for violations of US securities laws. Further, it may be difficult to compel Fnac, Darty

and their respective affiliates to subject themselves to the jurisdiction or judgment of a US court.

It is intended that the Proposed Acquisition will be implemented by way of a scheme of arrangement under English law. A transaction effected by means of a scheme of arrangement is not

subject to the tender offer rules under the US Exchange Act. Accordingly, the Proposed Acquisition will be subject to the disclosure requirements and practices applicable in the UK to

schemes of arrangement which differ from the disclosure requirements of the US tender offer rules. If the Proposed Acquisition is implemented by way of a scheme of arrangement, any Fnac

shares proposed to be issued to Dartyshareholders pursuant to the terms of the Proposed Acquisition are expected to be issued in reliance upon the exemption from the registration

requirements of the US Securities Act provided by Section 3(a)(10) of the US Securities Act. Section 3(a)(10) exempts securitiesissued in exchange for one or more outstanding securities from

the general requirements of registration where the terms and conditions of the issuance and exchange of such securities have been approved by a court, after a hearing on the fairness of

the terms and conditions of the issuance and exchange at which all persons to whom such securities will be issued have the rightto appear and be heard. The Court will hold a hearing on

POH VŃOHPH·V IMLUQHVV PR Dartyshareholders, at which hearing all such shareholders will be entitled to attend in person or through counsel.

$OPHUQMPLYHO\ LI POH 3URSRVHG $ŃTXLVLPLRQ LV LPSOHPHQPHG N\ RM\ RI M PMNHRYHU RIIHU XQGHU (QJOLVO OMR POH ´2IIHUµ POH 2IIer will be made in the US pursuant to Section 14(e) and Regulation

14( XQGHU POH 86 ([ŃOMQJH $ŃP MV M ´7LHU HHµ PHQGHU RIIHU MQG RPOHURLVH LQ MŃŃRUGMQŃH RLPO POH UHTXLUHPHQPV RI POH FLP\ FRGH. Accordingly, the Offer will be subject to disclosure and other

procedural requirements, including with respect to withdrawal rights, offer timetable, settlement procedures and timing of payments that are different from those applicable under US

domestic tender offer procedures and law.

Disclaimer (continued)

4 connectionwiththeProposedAcquisition. ofsecuritiesoftheCompany.

Disclaimer (continued)

5 1 2 3

Introduction

Financial highlights

Strategic rationale

Agenda

Recommendedofferfor Darty plc

November

20 th 2015

Introduction

7

Acquisition highlights

A highly logical

combination

Attractive synergy

potential

Solid capital structure

ƒCreating a market leader in the French electronics, editorial & home appliances retail market

ƒEnhanced European footprint

ƒRun-rate pre-tax synergy impact of at least ½85mper annum1 ƒLimited implementation costs of ½65m, including additional capex ƒOffer represents 33% premiumto GMUP\·Vshare price2 ƒFurther upside potential through owning approximately 46%3of the combined group ƒHighly accretive to EPS post synergies in the first full year post completion4 ƒUpside potential through owning approximately 54%3of the combined group ƒCommitted financing to support the combined group ƒLiquidity available to address working capital requirements

Significant value

upside for Darty

VOMUHOROGHUV"

" and Fnac shareholders Notes

1Reported under Rule 28.1 of the Takeover Code: reports can be found in the Rule 2.7 Announcement made by Fnacon 20 November 2015

2Premium computed on the basis of i) )QMŃ·Vclosing share price of ½55.6on 19 November 2015 (being the last business day preceding the Rule 2.7 Announcement) ii) exchange rate of £1:½1.4246 as at 19 November 2015 iii) an

implied value per Darty share of 105pence iv) the closing price of 81 pence per Dartyshare on 29 September 2015 (being the last business day before the date of )QMŃ·VPossible Offer announcement) minus the final dividend

for the financial year ended 30 April 2015

3Excluding the effect of the Partial Cash Alternative

4These statements should not be construed as profit forecasts and are therefore not subject to the requirements of Rule 28 of theCode. Such statements should not be interpreted to mean that the future earnings per share,

profits, margins or cash flows in any future financial period will necessarily be greater or less than the historical published earnings per share, profits, margins or cash flows

8

Deal terms

Transaction overview

ƒRecommended offer to acquire Darty

ƒ1 Fnac share for every 37 Dartyshares

ƒPartial cash alternative up to a maximum aggregate amount of approximately £67 million1to be made available ƒBased on the closing price of ½55.6 per Fnacshare on 19 November 20152: ‰Value of approximately 105 pence per Dartyshare3 ‰Premium of approximately 33%4to the closing price of 81 pence per Darty share on 29

September 20155

‰A value of approximately £558 million for GMUP\·Ventire issued and to be issued share capital

Indicative

timetable6

ƒRule 2.7 announcement: 20 November 2015

ƒAnti-trust pre-conditions satisfied (French and Belgian competition authorities): Q2 2016

ƒFnacand DartyShareholder Meetings: Q2 2016

ƒCompletion: expected by end of June 2016

ƒShould Phase II anti-trust investigation be required, completion likely to occur in Q4 2016 Notes

1½95,000,000 calculated by reference to the £/½exchange rate of £1:½1.4246 on 19 November 2015, being the last Business Day preceding the Rule 2.7 Announcement; £67m rounded for presentational purposes, exact figure is

£66,686,321

219 November 2015 being the last business day preceding the Rule 2.7 Announcement

3Based on the exchange rate of £1:½1.4246 as at 19 November 2015 being the last business day preceding the Rule 2.7 Announcement

4Premium computed on the basis of the reference share prices minus the final dividend for the financial year ended 30 April 2015

529 September 2015 being the last business day preceding the announcement of )QMŃ·VPossible Offer on 30 September 2015

6Timing of first four events assumes that only Phase I anti-trust clearance is required

Shareholder

support ƒIn aggregate, Fnac has received support from Dartyshareholders holding 23.63% of the issued share capital of Darty(Knight VinkeAsset Management LLC and DNCA Finance S.A.)

Recommendedofferfor Darty plc

November

20 th 2015

Strategic rationale

10 4 3 An enhanced multi-channel proposal addressing evolving customer expectations Strengthened physical and online shopping experience for customers A complementary, more diversified and more resilient product offering with growth potential Enhanced product offering and stronger platform for further expansion into new product categories 5

Improved scale & reach across multiple formats

Enhanced network of complementary stores in France and an enlarged European footprint

A highly logical combination

2 A combination of two iconic French brands which will benefit customers Combination of two highly recognised and well-respected brands with strong customer awareness 1

Creating a market leader

A market leader in the French electronics, editorial & home appliances retail market 9 9 9 9 9 11 21.0

12.411.8

8.8 7.4

4.73.93.53.5

5.6

2.82.82.8

1.91.91.91.8

1.0

0.60.5

#1 electronic and editorial goods retailer in France (FY2014 revenues, ½bn)

Creating a French leader in its key markets

Top 10 consumer electronics retailers in Europe1

(FY2014 revenues, ½bn)

Source Metro Retail Compendium 2015/2016

1

Source LSA Magazine; issue no. 2377, 3 September 2015: only including distributors in Fnac and Darty product

categories, excluding food retailers and a department store not focused on electronic and editorial goods Note

1Financial year ended 30 April 2015

Notes

1Euronicsand E Squared excluded as they are buying groups

2Financial year ended 30 April 2015

1 2 12

´I·MJLPMPHXUculturelµ

Distinctive but complementary strengths rooted in superior customer offering and awareness, generating strong customer loyalty

9Enjoyable customer experience

9Independence and expertise of sales

force

9Top-of-mind for innovation

9Commitment to the promotion of culture

9Strong commitment to customer service

9Unrivalled aftersales capabilities

9Top-of-mind brand awareness in home

appliances

9Broad consumer electronics offering

Combination of two iconic French brands

´IH contratde confianceµ

2 13

Grey goods

37%Grey goods

26%

Grey goods

32%

Brown goods

19%

Brown goods

19%

Brown goods

19%

White goods

42% White goods

20%

Editorial

goods 39%

Editorial

goods 20%

Accessories

13%

Services

5%

Services &

Accessories

9%

More diversified product offering

Source Fnac 2014 annualreport, Darty 2014/15 annualreport and Darty 2021 Bond prospectus (19 February2014)

Notes

1Total sales figure derivedfromsumof Fnac reportedsales for the financial year ended 31 December2014 and Darty reportedsales for the financial year ended 30 April 2015

2Group goodssplit calculatedfromi) Fnac goodssplit as reportedin the Fnac 2014 AnnualReport and ii) Darty goodssplit as reportedin the Darty bond prospectus dated19 February2015 (appliedto sales figure for the

financial year ended 30 April 2015) A more resilient and diversified offering with multiple growth levers

9Product categories offering

complementary growth and margin profiles

ƒBrown and grey products growth

underpinned by short innovation cycles

ƒHigher margin products

combining the resilience of white

JRRGV MQG ´PUMIILŃ-builderµ VPMPXV

of editorial products

ƒEnhanced and margin accretive

service offering (ticketing, warranties, aftersales)

9Diversification towards attractive

adjacent categories

ƒConnected Homes and Health,

Kitchen, Toys & Stationery

3 1, 2 14

9Both groups offer state-of-the-art omni-channel capabilities

ƒClick&Mag, Click&Collectand Connected Store services ensuring a seamless shopping experience and drive-to-store ƒM-commerce representing 40%2of Fnac.com traffic ƒPowerful Fnac marketplace offering significantly enlarged product range ƒEnhanced customer service and delivery capabilities (for example, DartyButton, as well as Fnacand GMUP\·V3 hour delivery services) 4.4 4.7 4.9 5.0 5.4 5.6 6.0 6.8 6.9 7.5 7.6 7.9 10.7 10.7 17.5

Decathlon

Rue du Commerce

Auchan

Leroy Merlin

Darty

E.Leclerc

Vente-privée

La Redoute

Voyages-Sncf.com

PriceMinister

Carrefour

eBay Fnac

Cdiscount

Amazon

An enhanced omni-channel offering

Attractive online presence1

Innovative omni-channel services

Source Fédération E-commerce et Vente ÀDistance (FEVAD) Communiqué de Presse dated27 January2015 (numbersas at November2014)

Notes

1Number of monthly unique visitors in France in millions

2As per Fnac2015 Q3 results

4 15 Notes

1Squares can indicate more than one store

2FnacQ3 revenue statement dated 22 October 2015; DartyQ4 trading statement dated 21 May 2015 (updated for DartyQ1 trading statement dated 18 September 2015)

32 franchised stores to open in Ivory Coast in December 2015 and February 2016

Improved scale and reach

5 2522
12

Franchise3141

Directly-operated85222

Total116263

Complementary networks in France1,2

Additional footprint

Iberia

Switzerland

Brazil

Other

Fnac& DartyDartyFnac

Benelux

Qatar, Morocco, Ivory Coast2

Diversified formats

Destination

ƒCities > 80,000

people

ƒHigh street or prime

shopping centres

Proximity

ƒCities < 80,000

people

ƒDowntown location

Railway & airports

ƒIncluding Duty free

areas

Periphery

ƒRetail parks outside

larger cities 5 75
609

Source Companyreports and presentations

Connect

ƒDedicated to

smartphones and connected devices 2 22
2 2 2 22
2 2 3 2 2 2 3 3 2 2

Recommendedofferfor Darty plc

November

20 th 2015

Financial highlights

17

9Approximately doubling

sales and EBITDA

9c. ½270m of combined

EBITDA with better scale and

resilience on the back of a larger, more diverse product portfolio and greater international exposure

9Attractive free cash flow

generation Key financials (as of 31/12/2014 for Fnacand 30/04/2015 for Darty) Notes

1EBIT equal to Current Operating Income definition for Fnacand equal to EBITDA ²D&A for Darty (before exceptional items and profit on disposal of PP&E and intangible assets)

2Net Capex excluding acquisitions

Enhanced financial scale and cash flow generation

½m

Sales3,8953,5127,407

EBITDA147119266

EBIT17768145

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