1872
Distributed in 120 countries/regions
Founded36,000 employees
100 nationalities

■Net Sales■Operating Profit (Core Operating Profit)

Medium-Term Strategy
SHIFT 2025 and Beyond

Transformation of our brand portfolio

Business transformation to achievesustainable growth and improve profitability

OPMargin10%

Core OP
Margin

6%

2023

2024

4%

2019

2020

2021

2022

15%

9%

2025

2028-2029

⚫ Japan
Structural reforms⚫ China and Travel RetailRespond to market changes⚫ Americas, EMEA, and Asia PacificAccelerate growth⚫ Create new values

Quantum leap growth in Americas/EMEA/APAC
Net Sales excl. divest impacts2019
Americas/
EMEA/
APAC

2023

To Be*Japan
China/TR

Well balanced
footprint

Accelerate
Growth

%NS

Top 5

70%

Affiliates

980%

Affiliates

80

Distributors
Countries

20%

800M€Sales
Fragrance COE
for the Group
2 Factories
1 R&D Center

EMEA Market

Beauty Mixof Business(2023)

Makeup20%

Skincare30%

Fragrances

50%

23%

34%

43%

SOURCE: NPD (Fr, GE, UK, It, Sp), Internal Sales

High-Tech

Skincarefrom Japan

Performance
Drivenlifestyle

Ultimate luxury
Skincarescience

Conscious
AdvancednaturalScience derma
Microbiome

Dermaexpertise
Clinicalresults

Value Vs. 2019
(in %)Value Vs. 2019

Total
Beauty+15%+24%

Fragrances+21%+25%

Makeup+3%+19%

Skincare+13%+25%

w/o hair

SOURCE: NPD

+13%+19% online+11%
SkincareMakeupFragrances+16%+15%+10%

BEAUTY
MARKET TOP 5

SOURCE: NPD

26%
22%

17%
15%
11%

Vs PY

Q1 ’23Q2 ’23Q3 ’23Q4 ’23

Q1 ’24

SOURCE: Internal sales

NS M€960

880

900
760

760
DivestedCoreOP

2019

2020

2021

2022

2023

---=++

Portfolio choices& Assortment
rationalization

Digitalization

Org
restructuring

Commercial
Excellence0102030405

Core BrandsCore Markets
Core Channels

DigitalAccelaration

Local R&Dand Production
capabilities

Sustainability
leaderPeople

180%

NS80%
A&P

2ECOM 36% NS = BEST IN CLASSECOM SHARE > BM SHARE

FR, GER DIGITAL HUBSAI

3Ormes

Gien

Strategic Assets

314IFSCC* ResearchAwards

35

3130

EIC, Group R&D center for green sciences

25

Group Sustainability champion

20

Open innovation

15
10

Most awarded company*
50Company A

B

CDE

F

Shiseido
SOURCE: INTERNATIONAL FEDERATIONOF SOCIETIES OF COSMETIC CHEMISTS

5Values

Diversity

TalentChairman

CEOVP HR EMEA

CFO & IT

Chief Business Officer EMEAVP EIC & EMEA Sustainability

Joined in 201823 years in Beauty

Joined in 2013
23 years in Beauty
L’Oréal, LVMH,Chanel

Joined in 2022
25 years in Luxuryand FinanceRichemont, Dior Couture,
AIG, PWC

Joined in 201914 years in Food and Luxury
LVMH, Danone

Joined in 201119 years in Beauty
LVMH

Joined in 2021
24 years in R&I

Deputy VP Operations

Chief Marketing
Officer EMEA

General Counsel EMEAVP Operations

VP Global Fragrances

Joined in 201810 years in Beauty
Coty

Joined in 2000
24 years in BeautyShiseido(USA, Japan, India, France)

Joined in 2021
23 years in Beauty
Coty, Puig

Chanel, Unilever

Joined in 2000
24 years in Beauty
Shiseido (Japan, UK,Italy, France), Mazda

Joined in 201823 years in Beauty
Dior, Coty, L’Oréal

L’Oréal成長
Organic
Beating Market Growth
Regaining Scale

Inorganic
M&A for EMEA
Strategic Alliances

Thank you
Merci Beaucoup
Grazie Mille
ありがとうございます。

TackGracias

Dank UDanke