Annual General Meeting 2010

1. Annual General Meeting 2010

2. Annual General Meeting 2010 Stuart Rose - Chairman

3. Agenda • Introduction • Business overview • Marc Bolland introduction • 2004-2010 • Q&A • Resolutions

4. Your Board Stuart Rose Chairman Jeremy Darroch Non-Executive Director Kate Bostock Executive Director General Merchandise Steven Holliday Non-Executive Director Louise Patten Non-Executive Director Amanda Mellor Group Secretary and Head of Governance David Michels Deputy Chairman Ian Dyson Group Finance and Operations Director Jan du Plessis Non-Executive Director Martha Lane Fox Non-Executive Director Steven Sharp Executive Director Marketing Marc Bolland Chief Executive John Dixon Executive Director Food

6. Financial review • Sales of £9.3bn1, up 3.2% • UK up by 2.9%, International up almost 6% • Grown market share in clothing to 11% • Profit before tax2 £632.5m, up 4.6% • Earnings per share2 30.0p, up 7.1% • Full year dividend 15p per share, level with last year • 1% total growth in costs = saving of £145m • Capital expenditure £389m 1Income statement shown on a 52 week basis 2Before property disposals and 52 weeks

7. Store modernisation Liverpool Bath

8. Q1 update • Q1 performance shows continuing progress made by team over previous year • Group sales up 4.4% • UK sales up 4.8% and 3.6% on a like for like basis • Good start to financial year but we remain cautious about outlook

9. General Merchandise • Sales up 4% • Like-for-like sales up 1.6% • Grew market share in clothing to 11% with gains in all areas

10. Womenswear

11. Womenswear

12. Menswear

13. Menswear

14. Lingerie

15. Lingerie

16. Kidswear

17. Home

18. Energy

19. Food • Food sales up 1.8% • Six quarters of improving like-for-like sales • Increased promotional activity in a very competitive market

20. Lowering prices

21. Promotions

22. Food - Simply Fuller Longer

23. Food – Summer Grill Range

24. Branded Food

25. Multi-channel • Strong growth – 27% up • Continuing to grow market share • Second largest retailer of online clothing

26. Shop your way

27. International • Solid year • Continue to open new stores • Doing well in Czech Republic and Russia • Four new stores opening in India

28. International Mantri Mall India

29. International Hong Kong Food Store

31. Plan A • Delivered a £50 million contribution to profit • Extended in March 2010 with 80 new commitments • Continued focus on climate change, waste, sustainable raw materials, fair partnerships and health • Plus making Plan A how we do business and involving our customers World’s Most Sustainable Major Retailer by 2015

32. Plan A – Highlights • Carbon emissions reduced by 8% • Store efficiency improved by 20% • Reduced our packaging by 36% in GM and 20% in Food • Sent 33% less waste to landfill • Invested £13.2m in community projects • Raised £2m through Oxfam Clothes Exchange

34. Project 2020: Supply chain • Delivered £35m of savings • New Bradford distribution centre due to open next week • Made good progress in direct deliveries in our international operations

35. Project 2020: IT • New stock systems already rolled out in 275 stores • New point of sale working well with full scale roll-out due to begin shortly • Good progress made, huge amount of change to come

36. Summary • Positive increases in: • General Merchandise • Food • International • Multi-channel • Firm control of margins, costs, debt and capital expenditure • Well positioned for the future; but outlook remains uncertain

38. Annual General Meeting 2010 Marc Bolland – Chief Executive

39. Annual General Meeting 2010 Stuart Rose - Chairman

40. The Bid

41. Your support

43. M&S 2004

44. M&S 2004

45. M&S 2004

46. M&S 2004

47. Modernising M&S

48. Modernising M&S

49. Improving our product

50. Improving our product