The Weekend Edition: EU Consumer Sector Specialist Commentary Retail • Luxury • Staples • Leisure • Airlines

Research evidence excerpt

The Weekend Edition: EU Consumer Sector Specialist Commentary Retail • Luxury • Staples • Leisure • Airlines

Olivia Petronilho - Specialist Sales - European Consumer AC (44-20) 3493-3709 Europe Specialist Sales J P M O R G A Nolivia.b.petronilho@jpmorgan.com

J.P. Morgan Securities plc 21 June 2026

The Weekend Edition

Olivia Petronilho

+44 207 134 2676

olivia.b.petronilho@jpmorgan.com

Hi all!

Below you will find the key highlights from last week including 1) key points to watch in the week ahead; 2) ideas for next week;

and 3) feedback from our high touch trading desk on flows; among some other snippets I think are worth flagging.

Let me know in case you want to catch up on any of the below or on the broader space.

Always happy to discuss!

Olivia

What’s Next?

What I'm keeping tabs on:

#1: Consumer CEO Series - Celine is hosting fireside chats with two companies this week:

• Essity CEO fireside chat on Monday at 14h UK / 15h CET

• Pernod CEO fireside chat on Wednesday at 14h30 UK / 15h30 CET

#2: H&M Q2 Results on Thursday. George expects ex-FX sales -1% and EBIT +2%. See all details on her preview here

***JPM GLOBAL BEAUTY CONFERENCE*** LONDON - SEPT 24TH - REGISTRATION OPEN

The conference will bring together senior management from leading global beauty companies with a broad range of top tier

investors. The format will consist of an agenda of fireside chats with company management and thematic panel discussions

covering key topics impacting the sector. The themes set to be covered throughout the day are beauty market dynamics, China and

US demand trends, aesthetic beauty, sustainability, technological innovation, niche brands and market consolidation, among

others.

CONFIRMED COMPANIES - Let me know if you want to put in meeting requests:

• Beiersdorf