2025 Universal Registration Document

Issued share capital and authorised unissued share capital
	Authorisations in force				Authorisations proposed to the General Meeting of 24 April 2026
	Date of the Annual General Meeting (resolution number)	Duration (expiry date)	Maximum authorised amount	Use of the authorisation in 2025	Resolution No.	Duration	Maximum ceiling
SHARE CAPITAL INCREASES
Capital increase through the issue of shares with maintenance of preferential subscription rights	29 April 2025 (18^th)	26 months (28 June 2027)	Increase the share capital to €149,607,365.58⁽¹⁾	None
Capital increase through the capitalisation of premiums, reserves, profits or other amounts	29 April 2025 (19^th)	26 months (28 June 2027)	Increase the share capital to €149,607,365.58⁽¹⁾	None
Capital increase reserved for L’Oréal employees participating in the employee savings scheme (PEE)	29 April 2025 (21^st)	26 months (28 June 2027)	1% of the share capital on the grant decision date (i.e., as an indication, 5,343,120 shares at 31 December 2024)	134,759	19	26 months (23 June 2028)	1% of the share capital on the date of the Annual General Meeting (i.e., as an indication, 5,337,830 shares at 31 December 2025)⁽²⁾
Capital increase reserved for employees of foreign subsidiaries	29 April 2025 (22^nd)	18 months (28 October 2026)	1% of the share capital on the grant decision date (i.e., as an indication, 5,343,120 shares at 31 December 2024)	114,697	20	18 months (23 October 2027)	1% of the share capital on the date of the Annual General Meeting (i.e., as an indication, 5,337,830 shares at 31 December 2025)⁽²⁾
Share capital increase in order to remunerate the contributions in kind of equity securities or securities giving access to the share capital of third party companies	29 April 2025 (20^th)	26 months (28 June 2027)	2% of the share capital on the date of the decision to increase the share capital (i.e., as an indication, 10,686,240 shares at 31 December 2024)	None
BUYBACK BY THE COMPANY OF ITS OWN SHARES
Buyback by the Company of its own shares	29 April 2025 (17^th)	18 months (28 October 2026)	10% of the share capital on the date of the buybacks (i.e., as an indication, 53,431,202 shares at 31 December 2024)	1,356,636⁽³⁾	16	18 months (23 October 2027)⁽³⁾	10% of the share capital on the date of the buybacks (i.e., as an indication, 53,378,302 shares at 31 December 2025)
REDUCTION IN THE SHARE CAPITAL THROUGH THE CANCELLATION OF SHARES
Cancellation of shares purchased by the Company under Article L. 22-10-62 of the French Commercial Code	23 April 2024 (18^th)	26 months (22 June 2026)	10% of the share capital on the date of the buybacks (i.e., as an indication, 53,472,547 shares at 31 December 2023)	1,356,636	17	26 months (23 June 2028)	10% of the share capital on the date of the buybacks (i.e., as an indication, 53,378,302 shares at 31 December 2025)
FREE SHARE GRANTS
Grant of existing free shares or shares to be issued to the employees	23 April 2024 (19^th)	26 months (22 June 2026)	0.6% of the share capital on the grant decision date (i.e., as an indication, 3,208,352 shares at 31 December 2023)	579,150	18	26 months (23 June 2028)	0.6% of the share capital on the grant decision date (i.e., as an indication, 3,202,698 shares at 31 December 2025)

Total ceiling on capital increases, for all authorisations combined. It corresponds to maximum increases of 40% of the capital.
The cumulative amount of increases in share capital that may be carried out pursuant to the 19^th and 20^th resolutions submitted for approval at the Annual General Meeting on 24 April 2026 may not exceed the total amount of 1% of the share capital, which constitutes a ceiling that applies jointly to these two resolutions, a ceiling that was also common to the 21^st and 22^ndresolutions adopted by the General Meeting of 29 April 2025.
Subject to approval, the authorisation put to the vote at the 2026 General Meeting would come into eﬀect on 29 October 2026, i.e., on expiry of the current authorisation on 28 October 2026 (see the draft resolutions in chapter 8). It should be noted that the shares bought back in 2025 were purchased in accordance with the authorisation given by the General Meeting of 23 April 2024 (see section 7.3.6).

Since 22 June 2013, the Board of Directors no longer has the authority to grant stock options to purchase or subscribe to shares.

On 31 December 2025, no subscription options had been granted or exercised as the most recent L’Oréal stock option plan expired in 2021 (see section 7.4.2.). Furthermore, 2,712,376 conditional shares had been granted to Group employees subject to performance conditions not yet met.

These shares will be issued when necessary and, where applicable, through the capitalisation of reserves. Accordingly, the Company’s potential share capital would amount to €107,299,080.80, divided into 536,495,404 shares with a par value of €0.20.

The Company has not issued any securities that grant indirect access to the share capital.

2025 Universal Registration Document

7. Information on the Company and the share capital