9 . Elements of the 2021 Management Report References Pages Annual change in the remuneration, the Company’s performances, the average remuneration of the Company employees and the abovementioned ratios over the five past fiscal years L. 22-10-9, I-7° of the French  Commercial Code 119 Explanation on how the total remuneration complies with the remuneration policy adopted, including the way it contributes to long term performances of the Company and the way the performance criteria has been applied L. 22-10-9, I-8° of the French Commercial Code 97-98, 111-117 Manner in which the vote of the last ordinary general meeting provided for by I of article L. 22-10-34 of the French Commercial Code has been taken into account L. 22-10-9 I-9° of the French Commercial Code 96 Derogation from the remuneration policy and any other derogations L. 22-10-9, I-10° of the French Commercial Code 108 Application of Article L. 225-45 al. 2 of the French Commercial Code (suspension of payment of directors' remuneration in the event of failure to comply with the Board of Directors' gender diversity) L. 22-10-9, I-11° of the French Commercial Code N/A Attribution and retention of stock options by Directors and Corporate Officers L. 225-185of the French Commercial Code 124-126 Attribution and retention of free share grants to Corporate Officers L. 225-197-1 and L. 22-10-59 of the French Commercial Code 125-126 Information on governance List of all terms of office and functions held in any company by each Director and  Corporate Officer during the fiscal year L. 225-37-4, 1° of the French Commercial Code 64-72 Agreements between an Executive Officer or a major shareholder and a subsidiary L. 225-37-4, 2° of the French Commercial Code N/A Table summarizing the authorisations in force granted by the Annual General Meeting L. 225-37-4, 3° of the French Commercial Code 380-381 Procedures for exercising the General Management L. 225-37-4, 4° of the French Commercial Code 54-55 Composition, preparation and modus operandi of the work of the Board of Directors L. 22-10-10, 1° of the French Commercial Code 57, 75-80 Description of the diversity policy, objectives and results applied to Board members (including gender diversity) L. 22-10-10, 2° of the French Commercial Code 58-60 Limits provided by the Board of Directors on Chief Executive Officer’s powers L. 22-10-10, 3° of the French Commercial Code 90 Reference to of the AFEP-MEDEF Corporate Governance Code and application of the comply or explain principle L. 22-10-10, 4° of the French Commercial Code 54, 127 Specific conditions related to shareholders’ attendance at the Annual General meeting L. 22-10-10, 5° of the French Commercial Code 379-380 Description and implementation of the evaluation procedure of non-regulated agreements L. 22-10-10, 6° of the French Commercial Code 78, 82, 94 Information that may have an impact in the event of a takeover bid or exchange offer Shareholders' agreements relating to the securities comprising the Company's share capital L. 22-10-11 of the French Commercial Code 383-385 Share ownership and capital Structure and change in Company capital and threshold notifications L. 233-13 of the French Commercial Code 383-384 Acquisition and disposal by the Company of treasury shares L. 225-211of the French Commercial Code 386 Employee share ownership Article L. 225-102, paragraph 1 of the French Commercial Code 383-384 Possible adjustments for securities giving access to share capital in case of buybacks of  shares or financial transactions R. 228-90 and R. 228-91 of the French Commercial Code N/A Information on trading by directors and corporate officers and related persons in shares of the Company L. 621-18-2 of the French Monetary and Financial Code 128 Amount of dividends paid out in respect of the three previous fiscal years 243 bis of the French Tax Code 21, 393 Non-financial statement L. 225-102-1, L.22-10-38, R. 225-105 of the French Commercial Code See Cross- reference table, 267-269 Other information Additional tax information 223 quater and 223 quinquies of the French Tax Code 368 Injunctions or financial penalties in respect of anti-competitive practices L. 464-2 of the French Commercial Code 335 436 L ’ ORÉAL I UNIVERSAL REGISTRATION DOCUMENT 2021 APPENDICES Management Report cross-reference table