The 2022 offer

L’Oréal is again offering you the opportunity to become involved in the Group’s growth
by becoming a shareholder.

THE ADVANTAGES OF THE PLAN

By participating in this new Employee Share Plan, you can purchase L’Oréal shares on preferential terms.

A 20% discount

on the share’s reference price¹
¹The reference price is the average opening listed price of the L’Oréal share between May 6^th and June 2^nd, 2022 and will be fixed on June 3^rd, 2022.

Up to 4 free shares

L’Oréal will offer up to 4 free shares, depending on your investment

FREE SHARE RULE

If you purchase in 2022:	L’Oréal will give you the following number of free shares in 2027:	Total amount of your investment in 2027:
1	1	2 shares
2	1	3 shares
3	2	5 shares
4	2	6 shares
5	2	7 shares
6	2	8 shares
7	3	10 shares
8	3	11 shares
9	3	12 shares
10 or more*	4	14 shares or more

If you purchase more than 10 shares, the matching contribution will remain capped at 4 free shares.

* You can buy a maximum of 50 shares (unless the shares are oversubscribed).

Pay by PERSONAL CHECK, PAYROLL DEDUCTIONS, or a combination of BOTH.

Consult the Local Supplement in the Documentation tab for further details.

Payment Options

Potential Dividends

You will directly receive any dividends paid by L’Oréal. Dividends are dependent on the Group's profits and are decided in General Meetings. Dividends will be increased by 10% after two years of holding registered shares, i.e. in 2025.

As a shareholder, you can exercise the voting rights attached to each of your shares in General Meetings. You may access the voting process virtually via the Global Shares (Custodian) website.

Voting rights attached to your shares

BEFORE YOU INVEST

BY PARTICIPATING IN THE PLAN, YOU WILL BE A L’ORÉAL SHAREHOLDER

As is the case with any shareholder, the value of your investment is contingent upon L’Oréal share price fluctuations. This means that you may incur a capital loss.

YOUR INVESTMENT WILL BE LOCKED-IN FOR 5 YEARS

Your investment will be locked-in until July 26, 2027, so you cannot sell your shares before this date unless you qualify for early release (see all early release cases in the Local Supplement).

You will receive the Free Shares at the end of the 5 year vesting period, also July 26, 2027, provided that you still work for the L’Oréal Group on this date (or in the special cases mentioned in the Local Supplement).

THE VALUE OF YOUR INVESTMENT WILL VARY ACCORDING TO EXCHANGE-RATE FLUCTUATIONS

As the L’Oréal shares are listed in euros at the Paris Stock Exchange, the value of your investment will vary as the exchange rate between the euro and U.S. dollar fluctuates over the term of your investment.

VISIT
WWW.INVEST.LOREAL.COM

To learn more about the offer
To perform investment simulations
To subscribe from June 8^th to June 22^nd, 2022

WHO CAN SUBSCRIBE ?

Employees who work for an eligible L’Oréal Group company that have 24 months of service and are still Group employees on June 22^nd, 2022.

HOW MUCH CAN YOU INVEST?

MINIMUM

1 L'Oréal share

MAXIMUM

50 L'Oréal shares²subscription value cannot exceed 25% of your 2022 gross annual salary

²This amount may be reduced if the shares are oversubscribed.