2020 CLOSING REPORT EDITORIAL ALEXANDRA PALT Chief Corporate Responsibility Officer and Executive Vice-President of the Fondation L’Oréal Very early on, L’Oréal realised the urgent need to take action to address the challenges of the global environmental crisis. As a business, we began by targeting the environmental impacts of our sites, a priority and first step necessary to begin our process of transformation. In 2013, we launched Sharing Beauty with All - we wanted to put sustainability at the heart of our activities and we set a series of goals to achieve by 2020. In seven years, we have completely reinvented our businesses, our practices and our mindset. Today, sustainability has become every employee’s business. In that respect, this first programme was a real success. We have demonstrated an unrelenting resolve, overcoming the inherent challenges to meet the pressing need to deliver results. We can be proud of the progress we have achieved. We also know that this is no longer enough. Since 2013, the world has changed. Our In seven years, ambitions must be in line with the unprecedented scale of the challenges we face – we must do more we have and faster. If we don’t rapidly change our lifestyles, our economic activities and the way we consume, completely we will endanger our own existence. In June 2020, we launched the second phase of our reinvented our sustainability commitment, L’Oréal for the Future. Our vision is to accelerate our sustainability businesses, our transformation to help ensure that our activities respect planetary boundaries, while contributing to addressing the social and environmental practices and challenges facing our world. Importantly, this ambition encompasses both our direct impacts our mindset. and our indirect impacts, those linked to our suppliers’ activities, for example, and the use of our products by consumers. We have just ten years before us to act. We must show the change is possible. 6