Schiphol, the Netherlands - 2 May 2017. GrandVision N.V. publishes the First Quarter 2017 trading update.

Highlights
First Quarter revenue grew by 5.2% or 6.2% at constant exchange rates to €845 million
Comparable growth was 4.1% (0.9% in 1Q16), benefiting from commercial effectiveness, strong sunglass sales, the timing of the Easter holidays and lower prior year comparables
G4 revenue grew by 3.1% at constant exchange rates with comparable growth of 1.5% (0.3% in 1Q16)
Other Europe revenue grew by 9.4% at constant exchange rates with comparable growth of 8.0% (-0.5% in 1Q16)
Americas and Asia revenue grew by 15.2% at constant exchange rates with comparable growth of 7.6% (8.5% in 1Q16)
Adjusted EBITDA (i.e. EBITDA before non-recurring items) increased by 12.6% at constant exchange rates to €136 million
The adjusted EBITDA margin increased by 79 bps to 16.1%
Total number of stores was 6,551 (6,516 at year-end 2016)
GrandVision expects a softer 2Q17 due to the timing of the Easter holidays and higher prior year comparables especially in the Other Europe segment
GrandVision will host an analyst call on 2 May at 9am CET. Dial-in details are available at investors.grandvision.com and at the bottom of this press release
GrandVision announced the launch of its CEO succession plan in a separate press release, issued on 2 May 2017

First Quarter 2017 key figures
in millions of EUR (unless stated otherwise) 1Q17 1Q16
Change versus prior year Change at constant FX Organic growth Growth from acquisitions
Revenue 845 803 5.2% 6.2% 5.5% 0.8%
Comparable growth (%) 4.1% 0.9%
Adjusted EBITDA 136 123 10.7% 12.6% 12.4% 0.2%
Adjusted EBITDA margin (%) 16.1% 15.3% 79bps
System wide sales 931 886 5.1%
Number of stores (#) 6,551 6,121

Revenue
Revenue increased by 5.2% to €845 million (€803 million in 1Q16) or 6.2% at constant exchange rates. Comparable growth of 4.1% in 1Q17 was positively impacted by a lower prior year comparable of 0.9%, the
effect of a later Easter holiday, robust underlying growth in the Other Europe segment as well as a strong sunglass performance, particularly in the G4, Southern Europe, Eastern Europe and Turkey.

Adjusted EBITDA
Adjusted EBITDA, which is EBITDA excluding exceptional and non-recurring items, increased by 10.7% to €136 million (€123 million in 1Q16) or 12.6% at constant exchange rates. Adjusted EBITDA growth benefited from further leveraging our global capabilities in the supply chain as well as topline growth. The
adjusted EBITDA margin increased by 79 bps to 16.1% (15.3% in 1Q16).
No non-recurring items were recorded in 1Q17. A reconciliation from adjusted EBITDA to operating result is presented in the table below:

in millions of EUR 1Q17 1Q16
Adjusted EBITDA 136 123
Non-recurring items 0 -
EBITDA 136 123
Depreciation and amortization of software - 33 - 31
EBITA 103 92
Amortization and impairments - 8 - 7
Operating result 96 84

Financial Position
Capital expenditures were €34 million in 1Q17 (€25 million in 1Q16). The increase of €9 million is related to due to investments in IT systems, including the ongoing deployment of the global ERP system and
omnichannel solutions as well as the growing size of the business.

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GrandVision announces launch of CEO succession plan
Schiphol, the Netherlands - 2 May 2017. GrandVision NV (EURONEXT: GVNV) today announces that its current Chief Executive Officer, Theo Kiesselbach, plans to retire for personal reasons in 2018 after more than 16 years with the company. While the Supervisory Board regrets his decision it remains fully supportive of Mr. Kiesselbach and is pleased that he will continue in his current role until then.

GrandVision's Supervisory Board will now launch a search for the CEO succession. It is expected that the actual transition will take place in 2018, and only after a qualified successor has been identified and is successfully on-boarded.

In the meantime, Mr. Kiesselbach as well as the Supervisory Board remain fully committed to the further execution of GrandVision's current growth strategy. Also the governance and management structures will remain unchanged.

GrandVision's Annual General Meeting (AGM) adopts all resolutions


Schiphol, the Netherlands - 2 May 2017. GrandVision N.V. (Euronext: GVNV) announced today that its Annual General Meeting (AGM) has approved all resolutions on the agenda of the AGM. The adopted resolutions are listed below:


Adoption of the Annual Accounts for the financial year 2016 as drawn up by the Management Board and signed by the Managing Directors and the Supervisory Directors on 17 February 2017
Adoption of the 2016 Dividend distribution proposal
Discharge of Managing Directors for their management during the financial year 2016
Discharge of Supervisory Directors for their supervision of management during the financial year 2016
Re-appointment of Mr. P. Bolliger as Supervisory Director
Re-appointment of Mr. J. Cole as Supervisory Director
Amendment of Remuneration Policy 2017
Appointment of PricewaterhouseCoopers Accountants N.V. as external auditor for financial year 2018
Authorization of Supervisory Board to issue shares or grant rights to acquire shares
Authorization of Supervisory Board to restrict or exclude pre-emptive rights
Authorization of Management Board to re-purchase shares.