Abstract2D RuddlesdenāPopper metalāhalide perovskites feature particularly strong excitonic effects, making them a fascinating playground for studying exciton physics. A complete understanding of the properties of this quasiāparticle is crucial to fully exploit the tremendous potential of 2D perovskites (2DP) in light emission applications. Despite intense investigations, some of the exciton properties remain elusive to date, for example, the energyāordering of the exciton states within the soācalled fine structure manifold. Using optical spectroscopy, it demonstrates that in the archetypical 2DP (PEA)2PbI4, in contradiction to theoretical predictions, the energy of the bright outāofāplane exciton state is higher than that of two ināplane states. Having elucidated the order of exciton fine structure, it determines the gāfactor of the dark exciton transition, together with the values of the electron and hole gāfactors in the direction parallel to the cāaxis of the crystal. In this way, it provides for the first time, a complete picture of the exciton fine structure in (PEA)2PbI4 2DP.