2024 universal registration document

INDIVIDUAL ATTENDANCE RATES OF DIRECTORS IN 2024 AT BOARD AND COMMITTEE MEETINGS

2.3.2 Activities of the Board of Directors

Each year, the Board of Directors defines L’Oréal’s strategic priorities, which integrate the challenges of climate change and, more generally, the issues of sustainability, ethics and L'Oréal's Sense of Purpose to "Create the beauty that moves the world". The Board ensures these strategic priorities are implemented, in accordance with the best interests of the Company, taking the social and environmental challenges of its business activity into consideration.

The Group's economic and financial position and cash position are reviewed at Board meetings at least twice a year, when the annual financial statements are approved and when the interim financial statements are reviewed, or at any other time it is necessary to do so.

All of the four Board Committees set up by the Board of Directors to work on topics falling within their field of expertise are involved in defining and monitoring the strategy.

The Committees’ work is systematically presented at Board meetings through reports delivered by the Chair of each Committee.

The work of the Board of Directors is governed by its Internal Rules, These Internal Rules are reproduced in full in this document, which is available on the loreal-finance.com website. The Internal Rules are regularly updated by the Board of Directors in order to take account of changes in laws and regulations, best corporate governance practices and L'Oréal's own modus operandi, particularly within the scope of the annual assessment of its work.

The composition of L’Oréal’s Board of Directors, the rules it is subject to, its modus operandi and the work that it has carried out over the year are reviewed annually by the Directors, and, alongside any decisions made by the Board, can be found in more detail in sections 2.2. and 2.3.