FY17 Guidance Update

RNS Number : 0310M

Sports Direct International Plc

07 October 2016

7 October 2016

SPORTS DIRECT INTERNATIONAL PLC

("Sports Direct" or the "Company")

FY17 Guidance Update

In the Trading Update provided on 7 September 2016, the Company stated that it expected FY17 Underlying EBITDA to be in the region of £300m. This guidance was based on a GBP/USD rate of approximately 1.30.

In light of recent downward currency movements, the Company entered into a hedging arrangement with respect to the GBP/USD rate. Extreme movements overnight resulted in a crystallisation of that rate at 1.19, resulting in a negative impact of approximately £15m on the Company's FY17 Underlying EBITDA expectation.

In addition, after taking into account the hedging referred to above, if the GBP/USD rate is 1.20 on average for the remainder of FY17, then the negative impact on the Company's FY17 Underlying EBITDA expectation would be in the order of a further £20m.

Ends.

Sports Direct International plc

Matt Pearson, Acting Chief Financial Officer

T. 0344 245 9200

KBA PR

Keith Bishop