Kering - Description of the Share Buyback Program - May 28, 2026

 Kering - Press release - Description of the Share Buyback Program - May 28, 2026

DESCRIPTION OF THE SHARE BUYBACK PROGRAM
AUTHORIZED BY THE COMBINED GENERAL SHAREHOLDERS’ MEETING OF MAY 28, 2026, AND DELEGATION FROM THE BOARD OF DIRECTORS AT ITS MEETING OF MAY 28, 2026

The General Shareholders’ Meeting of May 28, 2026, renewed the authorization given to the Board to trade in the Company’s shares. The following description was prepared in accordance with Articles 241-1 and 241-2 of the General Regulations of the French Financial Markets Authority (Autorité des marchés financiers) and in accordance with the provisions of Delegated Regulation (EU) 2016/1052 of March 8, 2016.

1. Date of the General Shareholders' Meeting that renewed the authorization of the share buyback program 

The authorization for Kering to purchase its own shares under the share buyback program was granted by the Combined General Shareholders’ Meeting of May 28, 2026 (eighteenth resolution). The delegation from the Board of Directors was granted in its meeting of May 28, 2026.

2. Number of securities and proportion of share capital held directly or indirectly

As of May 28, 2026, the number of shares held by Kering, directly or indirectly, was 800,427, i.e.,
0.65 % of the share capital.

3. Objectives of the authorized share buyback program 

The objectives of the share buyback program approved by the General Shareholders’ Meeting of May 28, 2026, are as follows:

• ensure the liquidity or support the secondary market of the shares through an investment services provider, acting independently pursuant to a liquidity agreement that complies with the Professional Code of Conduct recognized by the Autorité des marchés financiers; or
  
  
• use all or a portion of the shares acquired to meet obligations related to stock option plans, existing free share grant plans, share grants pursuant to employee profit-sharing schemes and any other share grants to employees or executive corporate officers, including the implementation of company savings plans for employees and executive corporate officers of the Company and/or companies, in France and/or outside France, that are or will be related to it under the terms and conditions provided for by law, and to sell or grant shares to them in accordance with French or foreign laws and regulations; or
  
  
• allow the completion of investments or financing through the subsequent delivery of shares (in exchange, as payment or otherwise) in connection with external growth transactions, mergers, spin-offs or contributions; or
  
  
• deliver shares upon the exercise of rights attached to securities granting a right to the allocation of shares in the Company by redemption, conversion, exchange, presentation of a warrant or in any other manner; or
  
  
• cancel all or a portion of the shares acquired under the conditions and within the limits provided for by Article L. 22-10-62 of the French Commercial Code.
  
  

4. Maximum proportion of share capital, maximum number, characteristics and maximum purchase price of shares and maximum monetary amount allocated to the program

As of May 28, 2026, Kering's share capital amounted to €493,683,112, divided into 123,420,778 shares.

The General Shareholders’ Meeting of May 28, 2026, set the maximum proportion of share capital that Kering may hold at any time at 10% of the number of shares making up the share capital, i.e., to date, a maximum of 12,342,077 shares. Given the number of Kering treasury shares held as of
May 28, 2026, Kering could acquire 9.35% of its own shares.

The maximum purchase price set by the General Shareholders’ Meeting is €700 per share, excluding acquisition costs, bringing the total maximum amount allocated to the share repurchase program to €8,639,453,900.

5. Term of the authorization to repurchase its own shares
The term of the authorization to repurchase its own shares is set at 18 months as from the General Shareholders’ Meeting of May 28, 2026, i.e., until November 28, 2028.

6. Overview of the use of the previous authorizations to repurchase its own shares

The General Shareholders’ Meetings of April 24, 2025 (eleventh resolution) and April 25, 2024 (seventeenth resolution) authorized the Board of Directors, with the ability to subdelegate, to implement a share buyback program for a period of 18 months. These authorizations were not used, except for transactions carried out under the liquidity agreement.

7. Liquidity agreement

Kering entered into a liquidity agreement that came into force on February 13, 2019, for a 12-month period and was renewed every year by tacit agreement. This liquidity agreement complies with the regulations relating to liquidity agreements and with the Professional Code of Conduct established by the Association Française des Marchés Financiers (AMAFI), approved by the Autorité des marchés financiers.
An amendment to that agreement came into force on July 1, 2021, providing for the resources in the liquidity account to be reduced by €25 million. As a result, there was €25 million in the liquidity account on July 1, 2021.

8. Open positions on derivative products

As of April 25, 2024, Kering did not hold any call options on its shares.

***

In accordance with Article 241-2, II of the General Regulations of the Autorité des marchés financiers, during the implementation of the share buyback program, any significant change in any of the information listed in paragraphs 3, 4 and 5 above will be brought to the public’s attention as soon as possible in accordance with the procedures set out in Article 221-3 of such General Regulations.

About Kering

Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative
Houses across couture and ready-to-wear, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear. Inspired by their creative heritage, Kering Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2025, Kering employed 44,000 people and generatedrevenue of €14.7 billion.

Contacts

Press
Emilie Gargatte                        +33 (0)1 45 64 61 20         emilie.gargatte@kering.com
Pénélope Linage                +33 (0)6 76 09 42 10               penelope.linage-ext@kering.com

Analysts/investors
Philippine de Schonen                 +33 (0)6 13 45 68 39      philippine.deschonen@kering.com
Victoria Gerard                        +33 (0)6 79 39 85 16         victoria.gerard@kering.com

Attachment

• Kering - Press release - Description of the Share Buyback Program - May 28, 2026