The letter to shareholders - N°84 Spring 2023

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 20 April 2023.

(1) Total Shareholder Return of the investment, assuming that the shares are sold at the closing price on 20 April 2023.

Hypothesis

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

2013 : €15,029 , 111 SHARES. + 14.0 % per year.  Capital investi x 3.6. 2023 : €51,130 , 133 SHARES.

TOTAL ANNUAL RETURN

Based on the share price on 20 April 2023

+18.0%

OVER 5 YEARS

+14.0%

OVER 10 YEARS

+11.8%

OVER 20 YEARS

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

L’Oréal vs CAC 40 from 20 April 2018 to 20 April 2023 (2)

(2) CAC40 index rebased on the L’Oréal share price since 20/04/2018 // Source : Refinitiv, share price on 20/04/2023.

This chart shows L'Oréal shares vs the CAC 40 from April 20, 2018 to April 20, 2023. L'Oréal 20/04/2018: €191.40 20/04/2023: €429.55 (Growth of 124.4%) CAC 40 index re-based on the L'Oréal share price since 20/04/2018 20/04/2018: €5,412.83 20/04/2023: €7,538.7 (Growth of 39.3%).

Incorporated in France as a “Société anonyme” with registered capital of €107,192,617.40 – 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, p.2, p.3, p.4, p.5), Stéphane de Bourgies / L’Oréal (p.6), Cristina Jugo / Benjamin Lennox / Biotherm (p.7), Shutterstock (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 papier Culture Association and Print Ethic and Ecovadis silver certified.

PASCALE GUERIN

Director of Individual Shareholder and Market Authority 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

26-28 June 2023:

BoursoLive e-fair

27 July 2023:

2023 Half-Year Results (after stock market closing time)

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

THE CONNECTED SHAREHOLDER

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