NET PROFIT Consolidated profit and loss accounts: from operating profit to net profit excluding non-recurring items: € millions 2019 2020 2021 Evolution Operating profit 5,547.5 5,209.0 6,160.3 +18.3% Financial revenues and expenses excluding Sanofi dividends -62.7 -95.9 -59.6 Sanofi dividends 363.0 372.4 378.3 Profit before tax excluding non-recurring items 5,847.9 5,485.5 6,478.9 +18.1% Income tax excluding non-recurring items -1,486.7 -1,383.1 -1,535.6 Net profit excluding non-recurring items of equity consolidated companies +1.0 +0.9 +0.6 Non-controlling interests 5.4 -4.2 -5.5 Net profit excluding non-recurring items after non-controlling interests 4,356.9 4,099.0 4,938.5 +20.5% EPS (1) (€) 7.74 7.30 8.82 +20.9% NET PROFIT AFTER NON-CONTROLLING INTERESTS 3,750.0 3,563.4 4,597.1 +29.0% Diluted EPS after non-controlling interests (€) 6.66 6.34 8.21 Diluted average number of shares 562,813,129 561,635,963 559,791,545 (1) Diluted earnings per share, based on net profit, excluding non-recurring items, after non-controlling interests. Net finance costs amounted to 59 million euros. Sanofi dividends amounted to 378 million euros. Income tax excluding non-recurrent items amounted to 1,535   million euros, representing a tax rate of 23.7%. Net profit excluding non-recurring items after non-controlling interests amounted to 4,938 million euros. Earnings per share (1) , at 8.82 euros, increased by 20.9%. Non-recurring items after non-controlling interests (2) amounted to 341.4 million euros net of tax. Net profit after non-controlling interests came out at 4,597  million euros, increasing by 29.0%. Cash flow statement, Balance sheet and  Cash position Gross cash flow amounted to 6,640 million euros, an increase of 16%. The working capital requirement decreased by 88  million euros. At 1,075 million euros, investments represented 3.3% of sales. Net cash flow (3) at 5,653 million euros, increased by 3.1%. The balance sheet remains solid, with shareholders’ equity amounting to 23.6 billion euros. On 7 December 2021, L’Oréal repurchased from Nestlé 22,260,000 of its own shares. At the end of December 2021, the net debt of the Group amounted to 3,586 million euros, including 1,670 million euros of finance lease liabilities. Proposed dividend at the Annual General Meeting of 21 April 2022 The Board of Directors has decided to propose to the shareholders’ Annual General Meeting of 21 April 2022 a dividend of 4.80 euros per share, an increase of +20.0% compared with the dividend paid in 2021. The dividend will be paid on 29 April 2022 (ex-dividend date 27 April at 0:00 a.m., Paris time). Share capital At 31 December 2021, the capital of the company was formed by 557,672,360 shares. As of 10 February 2022, the capital is formed by 535,412,372 shares, each with one voting right. Operating profit by Division 2019 2020 2021 € millions % 2019 sales € millions % 2020 sales € millions % 2021 sales Professional Products 691 20.1% 582 18.8% 807 21.3% Consumer Products 2,575 20.2% 2,388 20.4% 2,466 20.2% L’Oréal Luxe 2,494 22.6% 2,276 22.4% 2,816 22.8% Active Cosmetics 621 23.3% 766 25.4% 991 25.2% DIVISIONS TOTAL 6,381 21.4% 6,012 21.5% 7,080 21.9% Non-allocated (1) 833 -2.8% -803 -2.9% -920 -2.8% GROUP 5,548 18.6% 5,209 18.6% 6,160 19.1% (1) Non-allocated = CentralGroup expenses, fundamental research expenses, free grant of shares expensesand miscellaneous items. The profitability of the Professional Products Division came out at 21.3% in 2021, an improvement of 250 basis points. The profitability of the Consumer Products Division, at 20.2%, decreased by 20 basis points. The profitability of L’Oréal Luxe improved by 40 basis points, at 22.8%. The profitability of the Active Cosmetics Division came out at 25.2%, a decrease of 20 basis points. Non-allocated expenses amounted to 919.4 million euros. (1) Diluted earnings per share, based on net profit, excluding non-recurring items, after non-controlling interests. (2) Non-recurring items include impairment of assets, net profit of discontinued operations, restructuring costs and tax effects of non- recurring items. (3) Net cash flow = Gross cash flow + changes in working capital - capital expenditure. L ’ ORÉAL I UNIVERS AL REGISTRATION DOCUMENT 2021 41 PRESENTATION OF THE GROUP INTEGRATED REPORT 2021 Financial Results and Corporate Social Responsibility commitments 1