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Kering: Press release - Kering and Simon announce the sale of The Mall Luxury Outlets

1. Simon finalized the acquisition of The Mall Luxury Outlets from Kering. 2. The acquisition strengthens Simon's portfolio of shopping destinations. 3. Kering generated approximately €350 million from this divestment. 4. The Mall includes two luxury outlet locations in Italy. 5. Simon Property Group is an S&P 100 company.

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Why Bullish?

The acquisition enhances Simon's asset portfolio, which could drive revenue growth. Similar past acquisitions often led to share price increases.

How important is it?

The acquisition is a significant move that can directly impact SPG's growth prospects. Merger and acquisition activities typically highlight future revenue potential.

Why Long Term?

The benefits from increased operational scale and asset quality may take time to materialize. Historical evidence shows that strategic acquisitions improve long-term performance.

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Press release_Kering and Simon announce the sale of The Mall Luxury Outlets 30 01 25 PRESS RELEASE January 30, 2025 KERING AND SIMON ANNOUNCE THE COMPLETION OF THE SALE OF ‘THE MALL LUXURY OUTLETS’ Kering and Simon® today announced the finalization of the sale of 100% of The Mall Luxury Outlets entities held by Kering to Simon, the US real estate investment trust engaged in the ownership of premier shopping, dining, entertainment destinations. The Mall, created in 2001, operates two luxury outlet destinations in Italy, one in Leccio, nearby Florence, and the other in Sanremo, on the Italian riviera. For Kering, the divestment of this non-core asset will generate net proceeds of approximately €350 million. Simon, a world-leading operator of shopping, dining and entertainment assets worldwide, is ideally positioned to successfully ensure the continuous operation of The Mall. Kering’s brands will maintain a presence in these two very high-end shopping villages, the strategy implemented by Kering aiming at gradually concentrating its outlet distribution to a limited number of exclusive venues. About Kering A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods and Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin and Ginori 1735, as well as Kering Eyewear and Kering Beauté. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”. In 2023, Kering had 49,000 employees and revenue of €19.6 billion. Contacts Press  Emilie Gargatte+33 (0)1 45 64 61 20emilie.gargatte@kering.com    Marie de Montreynaud              +33 (0)1 45 64 62 53marie.demontreynaud@kering.com    Analysts/investors  Claire Roblet+33 (0)1 45 64 61 49claire.roblet@kering.com     About Simon Simon® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales. Contacts Investors Tom Ward                                                     +1 317 685 7330 Media Nicole Kennon                                                +1 704 804 1960 Press release_Kering and Simon announce the sale of The Mall Luxury Outlets 30 01 25

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