3 L’Oréal for the Future As we launch the new phase of our sustainability journey, we want to build on our accomplishments but also strive to make significant leaps forward. We will take on greater responsibility, engage our entire ecosystem and demonstrate that companies can be part of the solution to the challenges the world is facing. This is necessary because we need to prepare ourselves for the world of tomorrow and anticipate the challenges that will come with it. Through this in-depth transformation, we hope to be a catalyst of change in the beauty sector and beyond, and to inspire our customers and all people to take action with us. L’Oréal for the Future. 2020 MARKS THE DAWN OF A NEW ERA. Editorial “ Our vision for 2030” T his is a pivotal moment. The moment to choose what type of world we want for tomorrow. Our 2030 commitments mark a crucial new stage in rising to the challenges facing our world. Taking into account our business, beauty, our position as leader and our global presence, L’Oréal’s contribution can be nothing but major. This isn’t new to us. Over the last ten years, we have undertaken an in-depth transformation to reduce our impact across our entire value chain. We have totally reinvented the way we design and make our products with sustainability as a fundamental requirement. At times, we have even exceeded our already very ambitious objectives. We have proven that decoupling impact and growth is definitely possible. However, as environmental and social concerns increase, we know that this is no longer enough. This is an emergency. Together, we have one decade to act. With L’Oréal for the Future, we aim for an even more radical transformation. More radical, because our commitments put L’Oréal in line with the only possible scenario for humanity: respecting planetary boundaries across the entire lifecycle of our products. More radical, because it is our responsibility to take into account our impact beyond L’Oréal. We must help our 1.5 billion consumers to limit their impact when they use our products, and encourage them to make sustainable choices. We want to keep rallying our suppliers and clients in this process of sustainable transition, co-creating disruptive solutions. Only together can we have a real impact. More radical, because we are allocating 150 million euros to support vulnerable women and the fight against the environmental emergency, two causes which reflect the historic values and commitment of our Group. Our sustainable and inclusive revolution is the dawn of a new era. With one ambition: a more beautiful future for all. JEAN-PAUL AGON Chairman and Chief Executive Officer of L’Oréal