-affirmed to AA- by TRIS Industry spreads weak Management focus on cost and cash flow improvement Exceptional items adversely impacted core EBITDA Strong Thai Baht adversely impacted translated earnings 2 3Q

potential exceptional events (such as significant change in perimeters through material M&A activities) or extreme events, including drastic changes in the regulatory environment that could substantially

define responses to “exceptional” circumstances, such as an extended drought, that influence the allocation regime? (E.g., triggers water use restrictions, reduction in allocations according to pre-defined

PROSPECTUS CHANEL CERES PLC (incorporated with limited liability in England and Wales) EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2026 unconditionally and irrevocably guaranteed by Chanel Limited Issue price: 99.726 per cent. and EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2031 unconditionally and irrevocably guaranteed by Chanel Limited Issue price: 99.400 per cent. The EUR300,000,000 Sustainability-Linked Guaranteed Notes due 2026 (the "2026 Notes") and the EUR300,...

global economy 2.) tourism sector growth with an exceptional 12% YoY increase in tourist arrivals for the first six months of the year, especially Chinese, Russian and Indian tourists 3.) recovering

deal with the impacts of exceptional events (e.g. droughts, floods, severe pollution events, extreme storms, winds etc.). The issuer has monitoring and reporting systems and processes to identify high

Métiers d’Art. CHANEL is dedicated to ultimate luxury and to the highest level of craftsmanship. It is a brand whose core values remain historically grounded on exceptional creation. As such, CHANEL

Dubai price decreased by 0.70 USD/BBL. This is due to the pressure from an increase in supply of Light Sweet Crude which adjusted upward from Libya, Nigeria, and the US. Also the supply for Heavy Sour

by 1.03 $/BBL, a result of pressure from limiting quota and export of Heavy Sour Crude by the OPEC group following their production reduction policy. Compared to the previous quarter, the average

with faltering heavy sour crude export from Venezuela after the country had been sanctioned by the US. Thus lowering fuel oil exports to Singapore. Management Discussion and Analysis of Business