L'Oréal - 2018 Registration Document

Parent company financial statements INVESTMENTS (MAIN CHANGES INCLUDING SHAREHOLDING THRESHOLD CHANGES)

INVESTMENTS (MAIN CHANGES INCLUDING 5.8. SHAREHOLDING THRESHOLDCHANGES)

INVESTMENTS

(Main changes including shareholding threshold changes > 5%)

At 31.12.2017 Including revaluation

Acquisitions Subscriptions

Others

At 31.12.2018

(€ thousands)

Amount

Amount

Amount

Amount

%

Headings

Amount

%

Atelier Cologne (Luxembourg)

105.3 100.0

-3.8

101.5 100.0 15.0 100.0 11.9 100.0

L’Oréal West Africa

n/s 100.0

15.0

Faproréal

-

-

11.9 (1) -46.7 (1) -165.6 (1)

Helena Rubinstein

46.7 100.0 165.6 100.0 6.3 100.0 9.8 100.0 36.7 99.9 53.6 92.8 25.3 52.1 72.5 96.6 15.1 100.0 5.4 100.0

- -

- -

Gemey Maybelline Garnier

Bold

2.3 3.9 2.9

8.6 100.0 13.7 100.0

L’Oréal Vietnam L’Oréal East Africa

39.6 56.3 25.4

99.9 99.4 59.5

L’Oréal Produits de Luxe France Prestige et Collections International

2.7 (1) 0.1 (1)

L’Oréal Colombia

1.9

74.4 100.0 22.9 100.0 2.7 100.0

5

Thermes de Saint-Gervais les Bains Le Fayet

7.8

L’Oréal Uruguay Lipp distribution Nanda CO Ltd

-2.7

- -

- -

9.0

9.0

49.0

573.4

573.4 100.0

Regefi Finval

75.7 100.0 n/s 100.0

-75.7 (1) 75.7 (1)

-

-

75.7 100.0

Complete transfer of assets and liabilities/merger. (1)

STATUTORY AUDITORS’ REPORT 5.9. ONTHEFINANCIALSTATEMENTS

This is a free translation into English of the Statutory Auditors’ report issued in French and is provided solely for the convenience of English speaking readers. This report includes information specifically required by European regulations or French law, such as information about the appointment of Statutory Auditors. This report should be read in conjunction with, and construed in accordance with, French law and professional auditing standards applicable in France. For the year ended December 31, 2018 L’Oréal 14, rue Royale Opinion In compliance with the engagement entrusted to us by your Annual General Meeting, we have audited the accompanying financial statements of L’Oréal for the year ended December 31, 2018. In our opinion, the financial statements give a true and fair view of the assets and liabilities and of the financial position of the Company at December 31, 2018 and of the results of its operations for the year then ended in accordance with French accounting principles. The audit opinion expressed above is consistent with our report to the Audit Committee. 75008 Paris, France To the Shareholders,

REGISTRATION DOCUMENT / L'ORÉAL 2018

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