THE LETTER TO SHAREHOLDERS - N°82 AUTUMN 2022

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 31 August 2022.

(1) Total Shareholder Return of the investment, assuming that the shares are sold at the closing price on 31 August 2022.

2012: €15,052 154 SHARES, 2022: €64,531 188 SHARES capital invested x3.9 +15.2% per year

HYPOTHESIS

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

TOTAL ANNUAL RETURN

Based on the share price on 31 August 2022

+15.7%

OVER 5 YEARS

+15.2%

OVER 10 YEARS

+9.9%

OVER 20 YEARS

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

L’Oréal vs CAC 40 from 31 August 2017 to 29 August 2022 ⁽²⁾

(2) CAC40 index rebased on the L’Oréal share price since 31/08/2017 // Source: Refinitiv, share price on 31/08/2022.

120 140 160 180 200 220 240 260 280 300 320 340 360 38040042044031/08/201728/02/201831/08/201828/02/201931/08/201931/08/202029/02/202028/02/202131/08/202128/02/202231/08/2022L'Oréal CAC 40 index rebased on the L’Oréal share price since 31/08/2017+93.50%€343.25 €177.35 5,085.59 6,125.10+20.40%

Change from 31 August 2017 to 31 August 2022

L’OREAL SHARE PRICE:

+93.50%

CAC 40 INDEX:

+20.40%

Source: Refinitiv, share price on 31/08/2022.

Incorporated in France as a “Société anonyme” with registered capital of €107,345,775.20 – 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: Lancôme (cover), Stéphane de Bourgies / L’Oréal, Alain Buu / L’Oréal (p. 2), Thomas Cogny - Divergence / L’Oréal, Marc Mellet / L’Oréal (p. 3), Frédérique Toulet / L’Oréal (p. 4), Frédérique Toulet / L’Oréal, Alain Buu / L’Oréal (p. 5), Julien Mignot Studio J’adore Paris / L’Oréal, L’Oréal (p. 6), Andrane de Barry / L’Oréal (p. 7). Production: Makassar. 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 Print Ethic and Ecovadis Gold certified.

A TEAM THAT IS ATTENTIVE TO SHAREHOLDERS’ VIEWS

CHRISTIAN MUNICH

Director of Individual Shareholder and
Market Authority Relations

ANGÉLIQUE FRUCHTENREICH

Individual Shareholder Relations Manager

relations_actionnaires_individuels@ loreal-finance.com

Tel. in France: 0 800 66 66 66

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

AGENDA

20 October 2022:

Sales at 30 September 2022

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

INDIVIDUAL SHAREHOLDER CONSULTATION COMMITTEE

Each year, one-third of the members of the Individual Shareholder Consultation Committee is renewed.

If you would like to join the committee, please apply on our website: loreal-finance.com/eng/consultation-committee

THE CONNECTED SHAREHOLDER

Download the L’Oréal Finance app ⁽³⁾ here and keep up to date with live news about your company.

(3) Available for free on the App Store and Google Play.

To receive the Letter to Shareholders by e-mail, fill in your e-mail address at: loreal-finance.com/eng/keep-informed

Source : Refinitiv, cours de Bourse au 29/04/2022.

Société anonyme au capital de 107 082 474, 40 euros – 632 012 100 RCS Paris – Code NAF : 2042 Z – Code ISIN : FR0000120321 – Siège social : 14, rue Royale, 75008 Paris – Siège administratif : 41, rue Martre, 92117 Clichy Cedex – Numéro Vert : 0 800 66 66 66 (appel gratuit). Pour plus d’informations, écrivez à L’Oréal, Direction de la Communication Financière, 41, rue Martre, 92117 Clichy Cedex, consultez le site Internet www.loreal-finance.com , téléchargez l’appli mobile L’Oréal Finance ou contactez-nous par e-mail à [email protected]. Crédits photos : Alain Buu / L’Oréal (couverture), Alain Buu / L’Oréal (p. 2), Alain Buu / L’Oréal, Julien Mignot Studio J’adore Paris / L’Oréal (p. 3), Ankalab (p. 4), Alain Buu / L’Oréal (p. 5), Stéphane de Bourgies / L’Oréal (p. 6), Julien Mignot Studio J’adore Paris / L’Oréal, L’Oréal (p. 7). Réalisation : Makassar. Ce document a été imprimé avec des encres végétales, un vernis acrylique à base d’eau par un imprimeur qui est adhérent de l’association Culture Papier et labélisé Print Ethic et Ecovadis silver.