THE LETTER TO SHAREHOLDERS - N°87 SPRING 2024

L’Oréal and you

L’ORÉAL AND YOU

TOTAL SHAREHOLDER RETURN(1)

Amongst the various economic and financial measures of value creation, L’Oréal prefers Total Shareholder Return (TSR). This indicator is based on a range of criteria, including the share price and revenue received in the form of dividends excluding taxes on capital gains and dividends, based on the closing share price on 22 April 2024.

(1) Total Shareholder Return of the investment, assuming that the shares are sold at the closing price on 22 April 2024.

Hypothesis

Total Shareholder Return over 10 years, for €15,000 invested in L’Oréal shares, including reinvestment of dividends, excluding bank charges and tax.

2014 : €15,031 (123 SHARES) + 15.5% per year. Capital invested x 4. 2024 : €66,150 (150 SHARES).

TOTAL ANNUAL RETURN

Based on the share price on 22 April 2024

+14.2%

OVER 5 YEARS

+15.5%

OVER 10 YEARS

+12.0%

OVER 20 YEARS

OVER 5 YEARS, THE L’ORÉAL SHARE HAS OUTPERFORMED THE CAC 40 INDEX

L’Oréal vs CAC 40 from 22 April 2019 to 22 April 2024

(2) CAC40 index rebased on the L’Oréal share price since 22/04/2019 // Source: Refinitiv, share price on 22/04/2024.

This chart shows L'Oréal shares vs the CAC on 22 april 2019 to 22 april 2024. L’Oréal 04/2019 : €243.20 and 04/2024 : €441.00 (81.33 % growth). CAC 40 rebased from 22/04/2019 : €5,580.38 to 22/04/2024 : €8,040.36 (44,08 % growth).

Incorporated in France as a “Société anonyme” with registered capital of €106,945,095 – 632 012 100 RCS Paris – NAF code: 2042 Z – ISIN code: FR0000120321 – Registered office: 14, rue Royale, 75008 Paris – Headquarters: 41, rue Martre, 92117 Clichy Cedex France– Freephone number (from France): 0 800 66 66 66. For further information, write to L’Oréal, Financial Communication Department, 41, rue Martre, 92117 Clichy Cedex France, consult the website www.loreal-finance.com, download the L’Oréal Finance mobile app, or contact us by e-mail at [email protected]. Photo credits: Alain Buu / L’Oréal (couver) , Stéphane de Bourgies / L’Oréal (p.2), Candice Milon / Helena Rubinstein, Louis Bonnans / DR, DVNA Studio / Lancôme (p.3), Florence Joubert / L’Oréal (p.4), F2iC / Studio CAP PHOTO, Eric Larrayadieu, Alain Buu / L’Oréal  (p.5), L’Oréal, Alain Buu / L’Oréal (p.6), Julien Mignot / Studio J’Adore Paris / L’Oréal (p.7). Production: Makassar.

PASCALE GUERIN

Director of Individual Shareholder and Market Authority Relations

ANGÉLIQUE FRUCHTENREICH

Individual Shareholder Relations Manager

[email protected]

Tél. in France : 0 800 66 66 66

Tél. from outside France : + 33 1 40 14 80 50

AGENDA

24-26 June 2024: BoursoLive e-fair

30 July 2024: 2024 Half-Year Results (after stock market closing)

10 October 2024: Shareholder meeting in Reims

16 October 2024: Shareholder meeting in Aix-en-Provence

For other key dates, please visit our website: loreal-finance.com

THE CONNECTED SHAREHOLDER

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