Shareholder's Guide

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Published by the L’Oréal Financial Communications team www.loreal-finance.com

Photo credits: Benjamin Lennox / Cristina Jugo / Biotherm (cover), Eric Mercier / L’Oréal (p.2), Damon Baker / Regé-Jean Page / Armani (p.5), Leeor Wild / Jia Tong / Maybelline New York (p.6), Flavien Prioreau / Kérastase (p.11), Stefan Rappo / Camille Hurel / Vichy (p.12).

Production: Makassar