Hermès - Registration Document 2016

COMBINED GENERAL MEETING OF 6 JUNE 2017

STATUTORY AUDITORS’ REPORTS

STATUTORY AUDITORS’ REPORT ON THE ISSUE OF SHARES AND/OR OTHER TRANSFERABLE SECURITIES WITH CANCELLATION OF THE PREFERENTIAL SUBSCRIPTION RIGHTS (TWENTY-SECOND RESOLUTION) This is a free translation into English of the Statutory auditors’ report issued in the French language and is provided solely for the convenience of English-speaking readers. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France.

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Combined General Meeting of 6 June 2017 To the shareholders,

In our capacity as Statutory Auditors of your Company, and pursuant to the duties provided for in Articles L. 228-92 and L. 225-135 et seq . of the French Commercial Code ( Code de commerce ), we hereby present our report on the ExecutiveManagement’s request to be delegated powers to issue shares and/or transferable securities, on which you are asked to vote. On the basis of its report and the report of the Supervisory Board, your ExecutiveManagement Board asks that you delegate to it, under the supervision of the Supervisory Board and the Executive Management Board of Émile Hermès SARL, Active Partner, for a period of twenty-six (26) months from the date of this meeting, the authority to conduct the following transactions and to determine the final terms of such issues, and that you waive, where necessary, your preferential subscription rights: s issues, by way of a public offering referred to in Article L. 411-2-II of the French Monetary and Financial Code ( Code monétaire et financier ), and within the limit of 20% of the share capital per year, with cancellation of the preferential subscription rights (twentieth resolution), of ordinary shares and/or other transferable securities convertible into or exchangeable for equity securities and/or entitling holders to the allocation of debt securities and/or transferable securities convertible into new equity securities: • it being specified that transferable securities convertible into or exchangeable for equity securities of the Company may be issued as a result of the issuance, by any company directly or indirectly owning more than half of the share capital of the Company, or of which the Company directly or indirectly owns more than half of the share capital, of equity securities exchangeable for other equity securities or entitling holders to the allocation of debt securities or transferable securities convertible into equity securities to be issued by the Company. The aggregate nominal amount of capital increases liable to be carried out immediately and/or in the future pursuant to the twenty-second resolution may not exceed 20% of the share capital as of the date of this meeting. The maximum nominal amount of debt securities issuable pursuant to the twenty-second resolution is set at one billion euros (€1,000 million). It is the responsibility of your ExecutiveManagement to prepare a report pursuant to Articles R. 225-113 et seq . of the French Commercial Code ( Code de commerce ). It is our responsibility to give our opinion on the fairness of the figures taken from the financial statements, on the proposal to cancel the preferential subscription rights and on certain other information concerning these transactions contained in this report. We performed the procedures that we deemed necessary in accordance with professional practice as per the French national auditing body, Compagnie nationale des commissaires aux comptes , relating to such engagements. These procedures consisted in verifying the content of the ExecutiveManagement’s report bearing on these transactions and the procedures for determining the issue price of the equity securities to be issued. Subject to the subsequent review of the terms and conditions of the issues to be conducted, we have no comment to make concerning the terms and conditions for determining the issue price of the equity securities to be issued, as set out in the Executive Management’s report in respect of the twenty-second resolution. As the final terms and conditions under which any such issues will be made have not been set, we cannot express any opinion thereon or, as a result, on the proposal to cancel the preferential subscription rights in this resolution. In accordancewith ArticleR. 225-116of the FrenchCommercial Code ( Code de commerce ), wewill prepare a supplementary report, where applicable, when these delegations of authority are used by your Executive Management in the event of the issue of transferable securities convertible into or exchangeable for equity securities and/or entitling holders to the allocation of debt securities, in the event of the issue of transferable securities convertible into new equity securities and in the event of the issuance of shares with cancellation of the preferential subscription rights.

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Paris and Neuilly-sur-Seine, 11 April 2017 The Statutory Auditors

PricewaterhouseCoopers Audit

Didier Kling & Associés

Christine Bouvry

Christophe Bonte

Didier Kling

2016 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

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