LOREAL_Registration_Document_2017

Content

5 2017 PARENT COMPANY FINANCIAL STATEMENTS*

1 PRESENTATION OF THE GROUP INTEGRATED REPORT

5

285

The L’Oréal Group: fundamentals 1.1. A clear strategy : Beauty for all 1.2.

Compared income statements 5.1. Compared balance sheets 5.2. Changes in shareholders’ equity 5.3.

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286 287 288 289 290

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Good growth momentum for shared, lasting 1.3. development* An organisation that serves the Group’s development 1.4. Internal Control and risk management system 1.5.

25 40 44

Statements of cash flows 5.4.

Notes to the parent company financial statements 5.5. Other information relating to the financial statements of 5.6. L’Oréal parent company Investments (main changes including shareholding 5.8. threshold changes) Statutory Auditors' Report on the financial statements 5.9. Five-year financial summary 5.7.

309 310

2 CORPORATE GOVERNANCE * Framework for the implementation of corporate 2.1. governance principles

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311 312

46 49

Composition of the Board of Directors 2.2.

6 STOCKMARKET INFORMATION SHARE CAPITAL Information relating to the Company 6.1.

Organisation and modus operandi of the Board of 2.3. Directors Remuneration of the members of the Board of Directors 2.4. Summary statement of trading by executive officers in 2.6. L’Oréal shares in 2017 Summary table of the recommendations of the 2.7. AFEP-MEDEF Code which have not been applied Remuneration of the executive officers 2.5.

66 84 86

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318 320 323 328 334 339

Information concerning the share capital* 6.2.

103

Shareholder structure* 6.3. Long-Term Incentive plans * 6.4.

104 105 133

The L’Oréal share/L’Oréal share market 6.5.

Risk factors and control environment 2.8.

Information policy 6.6.

Statutory Auditors’ Reports 2.9.

7 ANNUAL GENERAL MEETING

3 L'ORÉAL’S CORPORATE SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY*

341

Draft resolutions and report of the Board of Directors 7.1.

135

(statement of reasons) to the Ordinary and Extraordinary General Meeting to be held on 17 April 2018 (adopted on 8 February 2018) 342 Statutory Auditors' Reports 7.2. 363

L’Oréal’s corporate social, environmental and societal 3.1. policies

137 181 205 208 214

The Sharing Beauty With All programme 3.2.

Methodological notes 3.3. Tables of concordance 3.4. Statutory Auditors' Reports 3.5.

8 APPENDIX

367

Statutory Auditors 8.1.

368

Historical financial information included by reference 8.2. 368 Person responsible for the Registration Document and the 8.3. Annual Financial Report 369 Declaration by the person responsible for the Registration 8.4. Document and the Annual Financial Report 369 Registration Document table of concordance 8.5. 370 Annual Financial Report table of concordance 8.6. 372 Table of concordance with the AMF tables on the 8.7. remuneration of executive officers and Directors 372 Table of concordance of the Management Report 8.8. 373

4 2017 CONSOLIDATED FINANCIAL STATEMENTS*

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Compared consolidated income statements 4.1. Consolidated statement of comprehensive income 4.2. Compared consolidated balance sheets 4.3. Consolidated statements of changes in equity 4.4. Compared consolidated statements of cash flows 4.5. Notes to the consolidated financial statements 4.6. Consolidated companies at 31 December 2017 4.7. Statutory auditors' report on the consolidated financial 4.8. statements

223 224 225 226 228 229 276

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Detailed chapter contents can be found at the beginning of each chapter. * This information forms an integral part of the Annual Financial report as provided in the Article L. 451-1-2 of the French Monetary and Financial Code.

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