3 May 2022

PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area (EEA). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, MiFID II); (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the Insurance Distribution Directive), where that customer would not qualify as a professional client as defined in point

  1. of Article 4(1) of MiFID II or (iii) not a qualified investor as defined in Regulation (EU) 2017/1129. Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the PRIIPs Regulation) for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS - The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (UK). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (EUWA); (ii) a customer within the meaning of the provisions of the FMSA and any rules or regulations made thereunder to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the UK PRIIPs Regulation) for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.

MIFID II product governance / Professional investors and ECPs only target market - Solely for the purposes of each manufacturer's product approval process, the target market assessment in respect of the Notes, taking into account the five categories referred to in item 18 of the Guidelines published by ESMA on 5 February 2018, has led to the conclusion that: (i) the target market for the Notes is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU (as amended, MiFID II); and (ii) all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a distributor) should take into consideration the manufacturers' target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturers' target market assessment) and determining appropriate distribution channels.

UK MIFIR product governance / Professional investors and ECPs only target market - Solely for the purposes of the manufacturer's product approval process, the target market assessment in respect of the Notes, taking into account the five categories referred to in item 18 of the Guidelines published by ESMA on 5 February 2018, has led to the conclusion that: (i) the target market for the Notes is eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook (COBS) and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA (UK MiFIR); and

  1. all channels for distribution of the Notes to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the Notes (a distributor) should take into consideration the manufacturer's target market assessment; however, a distributor subject to UK MiFIR is responsible for undertaking its own target market assessment in respect of the Notes (by either adopting or refining the manufacturer's target market assessment) and determining appropriate distribution channels

1

Kering

Legal Entity Identifier (LEI): 549300VGEJKB7SVUZR78

Issue of €750,000,000 1.875 per cent. Fixed Rate Notes due 5 May 2030

under the €6,000,000,000

Euro Medium Term Note Programme

PART A - CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base Prospectus dated 3 December 2021 and the supplements to it dated 12 April 2022 and 25 April 2022 which together constitute a base prospectus for the purposes of Regulation (EU) 2017/1129, as amended (the Prospectus Regulation) (the Base Prospectus). This document constitutes the Final Terms of the Notes described herein for the purposes of the Prospectus Regulation and must be read in conjunction with the Base Prospectus in order to obtain all the relevant information. The Base Prospectus and these Final Terms have been published on the Issuer's website at www.kering.comand the AMF's website at www.amf-france.org/fr.

  1. (a) Series Number:
    1. Tranche Number:
    2. Date on which the Notes will be consolidated and form a single Series:
  3. Specified Currency or Currencies:
  4. Aggregate Nominal Amount:

28

1

Not Applicable

Euro (€)

(a)

Series:

€750,000,000

(b)

Tranche:

€750,000,000

4.

Issue Price:

99.530 per cent. of the Aggregate Nominal

Amount

5.

(a)

Specified Denomination(s):

€100,000

(b)

Calculation Amount:

€100,000

6.

(a)

Issue Date:

5 May 2022

(b)

Interest Commencement Date (if

Issue Date

different from the Issue Date):

7.

Maturity Date:

5 May 2030

8.

Interest Basis:

1.875 per cent. Fixed Rate

(further particulars specified below)

9.

Redemption/Payment Basis:

Subject to any purchase and cancellation or early

redemption, the Notes will be redeemed on the

2

Maturity Date at 100 per cent. of their nominal

amount.

10.

Change of Interest Basis:

Not Applicable

11.

Put/Call Options:

Investor Put (Change of Control)

Make-Whole Redemption by the Issuer

Residual Maturity Call Option

Issuer Clean-up Call Option

(further particulars specified below)

12.

Date(s)

of corporate authorisation(s) for

Decision dated 28 April 2022 of Mr. Jean-François

issuance of Notes:

Palus, in his capacity as Directeur Général

Délégué of the Issuer in respect of the issue of the

Notes.

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

13.

Fixed Rate Note Provisions:

Applicable

(a)

Rate of Interest:

1.875 per cent. per annum payable in arrear on

each Interest Payment Date

(b)

Interest Payment Dates:

5 May in each year from and including 5 May 2023

to and including the Maturity Date

(c)

Fixed Coupon Amount:

€1,875 per Calculation Amount

(d)

Broken Amounts:

Not Applicable

  1. Day Count Fraction (Condition 5(a)): Actual/Actual ICMA
  2. Determination Dates (Condition 5(a)): 5 May in each year

14.

Floating Rate Provisions:

Not Applicable

15.

Zero Coupon Note Provisions:

Not Applicable

PROVISIONS RELATING TO REDEMPTION

16.

Issuer Call:

Not Applicable

17.

Issuer Clean-up Call Option:

Applicable

Notice period (if other than as set out in the

As set out in the Conditions

Conditions):

18.

Redemption following an Acquisition Event

Not Applicable

19.

Investor Put:

Not Applicable

20.

Investor Put (Change of Control):

Applicable

(a)

Optional Redemption Dates:

As set out in the Conditions

3

(b)

Optional Redemption Amount:

€100,000 per Calculation Amount

(c)

Notice period (if other than as set out

As set out in the Conditions

in the Conditions):

  1. Final Redemption Amount:
  2. Make-WholeRedemption by the Issuer:
    1. Reference Bond:

€100,000 per Calculation Amount Applicable

Calculated by reference to a reference security being the German DBR 0% February 2030 (DE0001102499)

    1. Reference Screen Rate:
    2. Make-wholeMargin:
    3. Make-wholeCalculation Agent:
    4. Partial Redemption:
  2. Residual Maturity Call Option:
    1. Call Option Date:
    2. Notice period:
  4. Early Redemption Amount:
    1. Early Redemption Amount(s) payable on redemption for taxation reasons (Condition 6(i)), for illegality (Condition 6(m)) or an Event of Default (Condition 9):

As determined by the Make-whole Calculation Agent

0.20 per cent.

Aether Financial Services

Applicable

Applicable

Each Business Day from, and including, 5 February 2030 to, but excluding, the Maturity Date

As set out in the Conditions

€100,000 per Calculation Amount

  1. Redemption for taxation reasons Yes permitted on days other than Interest Payment Dates (Condition 6(i)):

(c)

Unmatured Coupons to become void

Not applicable

upon early redemption (Materialised

Bearer Notes only) (Condition 7(b)):

GENERAL PROVISIONS APPLICABLE TO THE NOTES

25.

Forms of Notes:

Dematerialised Notes

(a)

Form of Dematerialised Notes:

Bearer dematerialised form (au porteur)

(b)

Registration Agent:

Not Applicable

(c)

Temporary Global Certificate:

Not Applicable

4

26.

Additional

Financial

Centre(s)

Not Applicable

(Condition 7(g)):

27.

Talons for future Coupons to be attached to

Not Applicable

Definitive Notes:

28.

Redenomination, renominalisation and

Not Applicable

reconventioning provisions:

29.

Consolidation provisions:

Not Applicable

30.

Purchase in accordance with applicable laws

Applicable

and regulations:

31. Exclusion of the possibility to request Not Applicable identification information of the Noteholders

as provided by Condition 1(a)(i):

32.

Masse (Condition 11):

Name and address of the Representative:

Aether Financial Services

2 Square La Bruyère

75009 Paris

France

The Representative will receive a remuneration of €400.

33. RMB Provisions:

(a)

RMB Currency Event:

Not Applicable

(As referred to under Condition 7(i))

  1. Relevant Currency for Condition 7(i): Not Applicable
  2. Relevant Spot Rate Screen Pages for Condition 7(i):
    1. Relevant Spot Rate Screen Not Applicable Page (Deliverable Basis):
    2. Relevant Spot Rate Screen Not Applicable Page (Non-deliverable Basis):

(d)

Party responsible for calculating the Not Applicable

Spot Rate for Condition 7(i):

Signed on behalf of the Issuer:

By: .........................................................

Duly authorised

5

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Disclaimer

Kering SA published this content on 26 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 May 2022 13:31:12 UTC.