LOREAL_Registration_Document_2017

Presentation of the Group Integrated report GOOD GROWTH MOMENTUM FOR SHARED, LASTING DEVELOPMENT*

Investment commitments in 2017 can be broken down as follows: production and the supply chain represent approximately s 27% of total investments; marketing investments, including moulds, POS advertising s materials and stores account for 46%; IT investments spread over all these categories represent s 19% of total investments;

research and the head offices in different countries s account for the remainder. See notes 3.2.2, 7.2 and 12.2 to the Consolidated Financial Statements for more details of these investments. Despite their strategic nature, none of these investments taken individually is material enough at Group level to warrant more detailed disclosure.

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The stakeholders in the Group's business

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Employees t 4BMBSJFT BOE FNQMPZFS XFMGBSF DPOUSJCVUJPOT

t *ODFOUJWFT BOE QSPmU TIBSJOH t 4BGFUZ BOE IFBMUI BU XPSL t 4LJMMT EFWFMPQNFOU t 1SPNPUJPO PG EJWFSTJUZ

Shareholders t )BWF B IPMEJOH JO UIF DBQJUBM t 7PUF PO "OOVBM (FOFSBM .FFUJOH SFTPMVUJPOT t 3FDFJWF B EJWJEFOE

Sales t - 0SÏBM T mOBODJBM QFSGPSNBODF DPOUSJCVUFT UP MPDBM BOE HMPCBM FDPOPNJD EFWFMPQNFOU t 5IF WBMVF HFOFSBUFE CZ UIF CVTJOFTT UISPVHIPVU UIF WBMVF DSFBUJPO DIBJO CFOFmUT UIF OVNFSPVT TUBLFIPMEFST

Service providers and suppliers of goods and services t 1BSUOFST BOE TVCDPOUSBDUPST t "MM BSF BTTPDJBUFE XJUI UIF (SPVQ T TVTUBJOBCMF EFWFMPQNFOU QPMJDZ

The State and local authorities t *ODPNF UBY t 0UIFS UBYFT BOE DPOUSJCVUJPOT UP MPDBM BVUIPSJUJFT

REGISTRATION DOCUMENT / L'ORÉAL 2017

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