L'Oréal - 2018 Registration Document

2 Corporate Governance

REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS

REMUNERATION OF THEMEMBERS 2.4. OFTHE BOARD OF DIRECTORS

The Directors receive attendance fees in the maximum amount approved by the vote at the Ordinary General Meeting, and which are allocated as decided by the Board.

RULES FOR ALLOCATION IN RESPECT OF THE 2018 FINANCIAL YEAR 2.4.1. The amount of attendance fees divided between the Directors includes a predominant variable portion depending on the degree of regularity in attending meetings, in accordance with the provisions of the AFEP-MEDEF Code. The Board adopted the following rules for a full year:

Total amount for the Board of Directors (on the basis of 6 meetings a year)

Board of Directors

Fixed annual sum

Amount per Board meeting €6,500 €10,000 (Directors located outside Europe) Variable annual amount (60%)*

€30,000

€69,000 €90,000

Board Committees

Total amount per committee**

Fixed annual amount (40%)

Audit

€10,000 €6,000 €4,600 €4,600

€15,000 €9,000 €6,900 €6,900

€25,000 €15,000 €11,500 €11,500

Strategy and Sustainable Development

Appointments and Governance

Human Resources and Remuneration

Allocated on the basis of the rate of attendance at Committee meetings. * On the basis of a 100% attendance rate. ** The attendance fees allocated to the Chairman/Chairwoman of each of these committees are doubled and also consist of a fixed part of 40% and a variable part of 60%.

AMOUNTS PAID IN RESPECT OF THE 2018 FINANCIAL YEAR 2.4.2. A total amount of €1,320,595, which falls within the maximum overall amount of €1,600,000 voted by the Annual General Meeting on 17 April 2018, was distributed to the Directors at the beginning of 2019 in respect of the 2018 financial year, for a total of seven meetings of the Board of Directors (including one non-remunerated meeting) and 16 Committee meetings.

for the Appointments and Governance Committee, and 95% for the Human Resources and Remuneration Committee. It should be noted that the Board of Directors recorded the wish expressed by Mr Jean-Paul Agon in 2014 to forego attendance fees in his capacity as Chairman and Chief Executive Officer. Mr Jean-Paul Agon thus receives no attendance fees from companies of the L’Oréal Group.

The average attendance rates at meetings in 2018 are 92% for the Board of Directors, 100% for the Strategy and Sustainable Development Committee, 100% for the Audit Committee, 93%

REGISTRATION DOCUMENT / L'ORÉAL 2018

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