2025 Universal Registration Document

Performance share plan dated:	13 October 2022
Arithmetic mean of performances across the three financial years concerned	Arithmetic mean of performances across the three financial years concerned 13 October 2022 2023–2024–2025
80% based on financial performance criteria	80% based on financial performance criteria 13 October 2022
For 40%: growth in like-for-like sales as compared to a panel of competitors*	For 40%: growth in like-for-like sales as compared to a panel of competitors* 13 October 2022 +3.6 points
For 40%: growth in the Group’s operating profit	For 40%: growth in the Group’s operating profit 13 October 2022 +7.09%
20% based on non-financial performance criteria	20% based on non-financial performance criteria 13 October 2022
For 15% based on the fulfilment of environmental and social responsibility commitments made by the Group as part of the L’Oréal for the Future programme	For 15% based on the fulfilment of environmental and social responsibility commitments made by the Group as part of the L’Oréal for the Future programme 13 October 2022 ≥ 65% achieved
% of sites achieving 100% renewable energy (formerly referred to as "carbon neutral"⁽¹⁾)	% of sites achieving 100% renewable energy (formerly referred to as "carbon neutral"⁽¹⁾) 13 October 2022
% of our formula ingredients that are biobased, traceable and come from sustainable sources	% of our formula ingredients that are biobased, traceable and come from sustainable sources 13 October 2022
% of plastic packaging that comes from either recycled or biobased sources⁽²⁾	% of plastic packaging that comes from either recycled or biobased sources⁽²⁾ 13 October 2022
number of people benefitting from the Group’s brands’ social commitment programmes in relation to the target of 3 million by 2030⁽³⁾	number of people benefitting from the Group’s brands’ social commitment programmes in relation to the target of 3 million by 2030⁽³⁾ 13 October 2022
For 5% based on gender balance within strategic positions including the Executive Committee	For 5% based on gender balance within strategic positions including the Executive Committee 13 October 2022 Proposal for each gender to represent ≥ 40%
Level of achievement of the performance conditions^()**	Level of achievement of the performance conditions^()** 13 October 2022 100%

A site must meet the following criteria: Direct CO₂ (Scope 1) = 0, with the specific exception of the gas used for catering, the fuel oil used for sprinkler tests, the fuel oil (or diesel) used temporarily by backup units, fossil energy consumed during maintenance of on-site renewable facilities and cooling gas leaks if they are lower than 130 tonnes CO₂eq./year; and indirect market-based CO₂(Scope 2) = 0. It should be noted that renewable energy sources no longer need to be located less than 500 kilometres from the site concerned.
Note: following the realignment in 2025 of the L'Oréal for the Future programme, this objective has been revised, and is now to, “by 2030, source 50% of all materials used in product packaging either from recycled or biobased sources”. In line with the "Use 100% recycled or biobased plastics in packaging by 2030” target (including an interim target of 50% by 2025) as published in the 2024 report, the Group used 50% recycled or biobased plastics in its packaging in 2025.
The original objective, cumulatively since 2020, the year the L’Oréal for the Future programme was launched.

Other benefits

a) Remuneration for term of oﬀice as a Director

The executive corporate oﬀicer does not receive any remuneration for his/her position as a Director.

b) Benefits in addition to remuneration

Benefits in kind

There are no plans to supplement the executive corporate oﬀicer's fixed remuneration by granting benefits in kind.

The executive corporate oﬀicer benefits from the necessary material resources to carry out his/her duties such as, for example, the provision of a car with a driver. These arrangements, which are strictly limited to professional use, are not benefits in kind.

Supplementary social protection schemes

The executive corporate oﬀicer continues to be treated in the same way as a senior executive during the term of his/her corporate oﬀice, which allows him to continue to benefit from the supplementary social protection schemes and, in particular, the defined contribution pension scheme, and the employee benefit and healthcare schemes applicable to the Company's employees.

Illustration of the remuneration policy in financial year 2026: components of remuneration attributable to Nicolas Hieronimus, Chief Executive Oﬀicer

The structure of Nicolas Hieronimus' remuneration is in line with the principles developed in section 2.4.1.2.1 on the remuneration policy applicable to the executive corporate oﬀicer, and forms a balanced whole with a target allocation of approximately:

46/54 between fixed remuneration and target annual variable remuneration;
50/50 between annual remuneration and long-term remuneration (performance shares);
50/50 between cash remuneration and share-based remuneration; and
77/23 between remuneration subject to performance conditions and remuneration not subject to performance conditions.

Nicolas Hieronimus’ annual variable remuneration may exceed 113% of his fixed remuneration and represent up to a maximum of 130.4% in the event of outperformance. Outperformance will be assessed on a criterion-by-criterion basis.

The Board of Directors will be called upon to decide on a grant of performance shares in 2026 in accordance with the remuneration policy submitted for approval at the General Meeting of 24 April 2026.