2025 Universal Registration Document

7. Information on the Company and the share capital

CHANGE IN THE L’ORÉAL SHARE PRICE COMPARED TO THE CAC 40 INDEX FROM 31 DECEMBER 2015 TO 31 DECEMBER 2025

This line chart presents the change in the L'Oréal share price compared to the CAC 40 index indexed to L'Oréal, from 31 December 2015 to 31 December 2025.

Starting values (December 2015):

L'Oréal: €155.30

CAC 40 indexed to L'Oréal: €4,637.06

Ending values (December 2025):

L'Oréal: €366.60

CAC 40 indexed to L'Oréal: €8,149.50

7.5.2.2 Total shareholder return

Amongst the various economic and financial indicators used to measure value creation, L’Oréal has chosen to apply the criterion of Total Shareholder Return (TSR). This indicator is a synthetic measurement that takes into account not only the value of the share but also the dividend income received.

5-year change of a portfolio of approximately €15,000 invested in L’Oréal shares with reinvestment of dividends
5-year change of a portfolio of approximately €15,000 invested in L’Oréal shares with reinvestment of dividends
Date of transaction Nature of transaction Investments (€)  Income (€) Number of shares
31.12.2020

31.12.2020

Nature of transaction

Purchase of 49 shares at €310.80

31.12.2020

Investments

(€)

 

15,229

31.12.2020

Income (€)

 

31.12.2020

Number

of shares

49

29.04.2021

29.04.2021

Nature of transaction

Dividend: €4.00 per share

29.04.2021

Investments

(€)

 

 

29.04.2021

Income (€)

196

29.04.2021

Number

of shares

49

 

 

Nature of transaction

Reinvestment: purchase of 1 share at €343.10

 

Investments

(€)

 

343

 

Income (€)

 

 

Number

of shares

50

29.04.2022

29.04.2022

Nature of transaction

Dividend: €4.80 per share

29.04.2022

Investments

(€)

 

 

29.04.2022

Income (€)

240

29.04.2022

Number

of shares

50

 

 

Nature of transaction

Reinvestment: purchase of 1 share at €348.90

 

Investments

(€)

 

349

 

Income (€)

 

 

Number

of shares

51

28.04.2023

28.04.2023

Nature of transaction

Dividend: €6.00 per share

28.04.2023

Investments

(€)

 

 

28.04.2023

Income (€)

306

28.04.2023

Number

of shares

51

 

 

Nature of transaction

Reinvestment: purchase of 1 share at €432.75

 

Investments

(€)

 

433

 

Income (€)

 

 

Number

of shares

52

30.04.2024

30.04.2024

Nature of transaction

Dividend: €6.60 per share

30.04.2024

Investments

(€)

 

 

30.04.2024

Income (€)

343

30.04.2024

Number

of shares

52

 

 

Nature of transaction

Reinvestment: purchase of 1 share at €439.65

 

Investments

(€)

 

440

 

Income (€)

 

 

Number

of shares

53

07.05.2025

07.05.2025

Nature of transaction

Dividend: €7.00 per share

07.05.2025

Investments

(€)

 

 

07.05.2025

Income (€)

371

07.05.2025

Number

of shares

53

 

 

Nature of transaction

Reinvestment: purchase of 1 share at €374.40

 

Investments

(€)

 

374

 

Income (€)

 

 

Number

of shares

54

TOTAL AT 31.12.2025 TOTAL AT 31.12.2025

Nature of transaction

17,168
TOTAL AT 31.12.2025

Investments

(€)

 

1,456
TOTAL AT 31.12.2025Income (€)54
TOTAL NET INVESTMENT

TOTAL NET INVESTMENT

Nature of transaction

15,712

TOTAL NET INVESTMENT

Investments

(€)

 

 

TOTAL NET INVESTMENT

Income (€)

 

Portfolio value at 31 December 2025 (54 shares at €366.60, price at 31 December 2025): €19,796.

The initial capital has thus been multiplied by 1.3 over 5 years (5‑year inflation rate = 13.35% - Source: INSEE) and the final capital is 1.3 times the total net investment.

The Total Shareholder Return of the investment is thus 4.8% per year (assuming that the shares are sold on 31 December 2025, excluding tax on capital gains).

Note: Any income tax that may be paid by the investor as a result of the successive dividend payments is not taken into account.

10-year and 20-year change of a portfolio of approximately €15,000 with reinvestment of dividends
Over 10 years

Based on the same methodology as that detailed for the 5-year time horizon, portfolio value at 31 December 2025 (118 shares at €366.60, price at 31 December 2025): €43,259.

The initial capital has thus been multiplied by 2.9 over 10 years (10‑year inflation rate = 18.16% - Source: INSEE) and the final capital is 2.6 times the total net investment.

The Total Shareholder Return of the investment is thus 10.6% per year (assuming that the shares are sold on 31 December 2025, excluding tax on capital gains).

Note: Any income tax that may be paid by the investor as a result of the successive dividend payments is not taken into account.

Over 20 years

Based on the same methodology as that detailed for the 5-year time horizon, portfolio value at 31 December 2025 (348 shares at €366.60, price at 31 December 2025): €127,577.

The initial capital has thus been multiplied by 8.5 over 20 years (20‑year inflation rate = 32.72% - Source: INSEE) and the final capital is 7.5 times the total net investment.

The Total Shareholder Return of the investment is thus 11.1% per year (assuming that the shares are sold on 31 December 2025, excluding tax on capital gains).

Note: Any income tax that may be paid by the investor as a result of the successive dividend payments is not taken into account.

7.5.2.3 Dividends

The limitation period for dividends is five years. Any dividends for which payment has not been requested are paid to the French Deposits and Consignments Fund (Caisse des Dépôts et Consignations) .