The letter to shareholders - N°91 Spring/Summer 2026

L’ORÉAL AND YOU

TOTAL SHAREHOLDER RETURN⁽¹⁾ INVESTED CAPITAL: 2.6X OVER 10 YEARS

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 30th April 2026.

Hypothesis

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

Evolution of an investment between 2016 and 2026. In 2016, an investment of €15,053 allowed the acquisition of 95 shares. By 2026, this investment grew to a value of €42,462, corresponding to 116 shares. This represents an average annual growth rate of +10.3%.

+2.6 % PER YEAR OVER 5 YEARS
+10.3% PER YEAR OVER 10 YEARS
+10.2% PER YEAR OVER 20 YEARS

THE ADVANTAGES OF REGISTERED SHARES: LOYALTY BONUS ON THE DIVIDEND

Before the end of 2026

2027-2028

Hold your registered shares continuously for two full calendar years.

From 2029

For the 2028 fiscal year, you will receive your first 10% loyalty bonus (preferential dividend) in 2029 for shares held continuously in registered form in 2027 and 2028.

You will be entitled to receive the 10% loyalty bonus in subsequent years if you continue to hold your shares in registered form.

2026

20272028

2029 2030

Incorporated in France as a “Société anonyme” with registered capital of €106,477,308.00 – 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 (cover) - Alain Buu/L’Oréal (p.2) - Alain Buu/L’Oréal (p.3) - Alain Buu/L’Oréal – Beauty Advisor, Kielh’s 2025, Moh Aksya Dwi Mahardika/L’Oréal - L’Oréal Research & Innovation. An innovative AI-based formulation for beauty. White Background. Bottle. 2025, Joaquim Gomes/L’Oréal Research & Innovation (p.4) – Alain Buu/L’Oréal (p.5) - Triple AAA logo, CDP. 2025, CDP Driving Sustainable Economies/L’Oréal - L’Oréal Fund for Women, Un Village dans les étoiles association, Nepal, 2022/L’Oréal - L’Oréal Research & Innovation. An innovative AI-based formulation for beauty. Black background. Pot. 2025, Joaquim Gomes/L’Oréal Research & Innovation - L’Oréal LED Face Mask/L’Oréal Group - L’Oréal R&I. Advanced Research - Microbiome. 2024, Philippe Gotteland/L’Oréal Research & Innovation (p.7). Production: Bibiche. This document has been printed with vegetable inks using a water-based acrylic varnish by a printer who is a member of the Culture Papier association and holds Print Ethic and EcoVadis Gold certification

A TEAM THAT IS ATTENTIVE TO SHAREHOLDERS’ VIEWS

PASCALE GUÉRIN

Head of Individual Shareholder Relations

ANGÉLIQUE FRUCHTENREICH

Individual Shareholder Relations Manager

[email protected]

Tel. in France : 0 800 66 66 66

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

AGENDA

29th July 2026:

H1 results

30th September 2026:

shareholder meeting in Lyon

12th October 2026:

shareholder meeting in Lille

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

THE CONNECTED SHAREHOLDER

Download the L’Oréal Finance app and keep up to date with live news about your company. Available free on: App Store and Google Store

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