2 . Consequences on performance shares in the event of  departure The right to performance shares is lost in the event of departure from the Group due to resignation (other than in the case of termination of corporate office in connection with the exercise of pension rights under applicable retirement regimes) or termination for gross misconduct or gross negligence. In the event of dismissal of an executive corporate officer, the Board will decide, pursuant to the AFEP- MEDEF Code, on the outcome of performance shares granted as from the appointment as executive corporate officer. When the benefit of performance share grants to the executive corporate officer is maintained in the event of his or her departure prior to expiry of the vesting period, it is motivated by the following considerations: • the performance shares represent a predominant component of the executive corporate officer’s annual remuneration assessed during the year of the grant; • they are the consideration for the execution of his or her corporate office subject to the achievement of long-term performance; • the maintenance thereof encourages the executive corporate officer to take a long-term view; and • the final vesting of the shares remains subject to achievement of the performance conditions. ACHIEVEMENT OF THE PERFORMANCE CONDITIONS OF THE LAST THREE PERFORMANCE SHARE PLANS Performance share plan dated: 20/04/2016 20/04/2017 17 /04/2018 Arithmetic average of performances across the 3 financial years concerned 2017 – 2018 – 2019 2018 – 2019 – 2020 2019 – 2020 – 2021 For 50%: Growth in comparable sales as compared to a panel of competitors* +1.47 points +2.7 points +4.6 points For 50%: Growth in the Group’s operating profit +6.99% +3.95% +8.3% Level of achievement of the performance conditions 100% 82.95% 100% * Panel of competitors:  Unilever, Procter & Gamble, Estée Lauder, Shiseido, Beiersdorf, Johnson & Johnson, Henkel, LVMH, Kao and Coty. Other benefits a) Remuneration for term of office as Director The executive corporate officer does not benefit from the payment of a remuneration for his/her position as Director. b) Benefits in addition to remuneration • Benefits in kind There are no plans to supplement the executive corporate officer’s fixed remuneration by granting benefits in kind. The executive corporate officer benefits from the necessary material resources for performance of his or her office such as, for example, the provision of a car with a driver. These arrangements, which are strictly limited to professional use, are not benefits in kind. • Additional social protection schemes The executive corporate officer continues to be treated in the same way as a senior manager during the term of his corporate office which allows him to continue to benefit from the additional social protection schemes and, in particular, the defined contribution pension scheme, and the employee benefit and healthcare schemes applicable to the Company’s employees. 102 L ’ ORÉAL I UNIVERSAL REGISTRATION DOCUMENT 2021 CORPORATE GOVERNANCE Remuneration of directors and corporate officers