FrdricRoz,PresidentLOralUSA

InternationalFinancialAnalysts May10,2012

AGENDA

HISTORYOFLORALUSA

LORALUSATODAY

LORALUSATOMORROW

L'Oral USA Investor Days - May 2012

HISTORYOFLORALUSA

AT THE BEGINNING They were 25

L'Oral USA Investor Days - May 2012

LORAL USAS HISTORY

1953: Cosmair,Inc.becomestheexclusivelicensingagentto importandsellLOralhaircolorintheUnitedStates 1994: Cosmair,Inc.becomes100%ownedsubsidiaryof LOralSA 2000: Cosmair,Inc.changesitsnametoLOralUSA 2011: LOralUSArepresentsapproximately20%ofLOrals worldwidecosmeticsales
L'Oral USA Investor Days - May 2012 5

BRAND BUILDING FOR LORAL USA APPROXIMATELY 40% US BRANDS PROFESSIONAL

1954

CONSUMER
1966 /1983 1974

LUXE
2000

ACTIVE

1993

1983 1996 1984 2000

1998 19982000 2000 2000 2007 2007 20072011 2011 2008 2011
L'Oral USA Investor Days - May 2012 6

2000

2005

2005 2005

LORAL USAS HISTORY

Creative hub for US global brands:

z Matrix z Redken z Pureology z Mizani z Maybelline z SoftSheen z Essie z Ralph

US hubs drive 20% of LOreal worldwide consolidated sales.

Carson

Lauren Since 1851

z Kiehls

z Skinceuticals
L'Oral USA Investor Days - May 2012

z Clarisonic

DRIVING ORGANIC GROWTH A U.S. WAY OF BEING SUCCESSFUL

MAYBELLINE
#1 Cosmetics brand

REDKEN
#1 Salon Hair Care brand in US grew 3X since 98

KIEHLS
4x in 10 years and becoming a global phenomenon

MATRIX ESSIE
3X growth since acquisition #2 U.S. Professional Salon Brand, reaching over 100K community salons

SKINCEUTICALS
Growing 2X since acquisition in 2005

PUREOLOGY
#1 Color Care Brand in the U.S., +60% since LOreal acquisition

CLARISONIC
LOreal enters the fast growing beauty devices category.

L'Oral USA Investor Days - May 2012

LORAL USA HAS GROWN 3.5 TIMES IN 15 YEARS

$MM

+7.7%

Sales Published Pre and Post IFRS Post IFRS

L'Oral USA Investor Days - May 2012 9

LORAL USA TODAY

THE US --- A GROWING ENVIRONMENT

Real GDP
2009 -3.5% 2010 3.2% 2011 1.7%
2000 Male Female Total 138 144 282

2012 2.1%

2013 2.3%

2015 3.4%
2020 165 171 336

2015 3.2%
2030 179 185 364

Moderate growth.

Population (m)

2010 152 157 309

Significant growth +55m +18%next 20 yrs.

Diversity
80% 70% 60% 50% 40% 30% 20% 10% 0%
13% 4% 3% 12% 7% 4%
Asian AllOther

% Population by Race
69%
Caucasian

Rapid change.
50.4% 49.6%
TotalMulti Cultural Hispanic

32%

28%

Black

2000

2010

2015

2020

2025

2030

2035
11

2040

Sources: US Bureau of Economic Affairs, Global Insight, US Census Bureau

L'Oral USA Investor Days - May 2012

BEAUTY BOUNCES BACK AFTER A DIP IN 2008/2009, REACHING 4.5% IN 2011 $38B MARKET

5 4 3 2 1 0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Change, %

1 2
Source: Growth, Kline , excluding soaps, razors, blades, oral care; market size from internal Beauty Market Survey.
L'Oral USA Investor Days - May 2012 12

Skincare continues to be the largest category, while makeup is the fastest growing
Sales by Product Category, 2011 Growth by Product Category, 2011

Makeup

Fragrance

Skincare

Toiletries

Haircare 0.0% 2.0% 4.0% 6.0% 8.0%

Source: Kline excluding soaps, razors/blades and oral care.

L'Oral USA Investor Days - May 2012 13

BEAUTY DISTRIBUTION IN THE USA

Weight
etailing 1.5% Personto Person6.4% Vertically Integrated7.8% DRTV 4.6% Spec.Cosm. Stores 4.2% FoodDrugMass 28.5%

Weight & Evolution

14.2% +1.9% 26.8% +10.6% 9.7% +0.4% 49.3% +2.3%

Manufacturers Stores2.1%

DeptStores 14.4%

Walmart 13.8% HairSalon 7.0%

WarehouseClubs2.4% DollarStores2.6% OtherMass2.0%
14

Mass Selective

Professional Direct

Spa/Medical 2.0% NailSalon 0.7%

Source: LOreal Beauty Market Survey
L'Oral USA Investor Days - May 2012

BEAUTY AND TOILETRIES MARKET SHARE EVOLUTION TOP 10 BEAUTY COMPANIES

Company Procter & Gamble L'Oral Este Lauder Unilever Limited Brands Johnson & Johnson Coty Mary Kay Avon Revlon Private label

2011 14.2% 13.6% 7.8% 7.4% 4.6% 4.5% 3.3% 3.1% 3.0% 2.3% 1.8%

Source: Growth, Kline , excluding soaps, razors/blades, oral care, at manufacturers net.
L'Oral USA Investor Days - May 2012 15

CPD COMBINED SHARE EVOLUTION MAKE-UP, HAIR CARE/STYLING, HAIR COLOR, FACIAL SKIN CARE

31,0 29,0 27,0 26,3 25,0 23,5 23,0 21,0 19,0 17,0 15,0 2007 2008 2009 2010 2011 YTD '12 25,1

28,6

LOral CPD = 26.3%

Competitor #1 = 25.1%

Source: extracted from US IRI for Food Drug Mass, and LOreal estimates for Walmart based on IRI Total RetailView panel data
L'Oral USA Investor Days - May 2012 16

LORAL PARIS VERSUS REVLON DOLLAR SHARE OF COSMETICS THROUGH Q1 2012

Share 25

20

LOral Paris = 15.8%

15

10

Revlon = 12.4%

0
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Data Source: 2003 and forward: Extracted from US IRI for Food Drug Mass, without Walmart 1995-1998: Nielsen including Wal-mart Nielsen Data reported historical through 2002
L'Oral USA Investor Days - May 2012 17

MAYBELLINE VERSUS COVER GIRL DOLLAR SHARES OF COSMETICS THROUGH Q1 2012

Share 24.0

Maybelline = 20.5%
22.0 20.0 18.0 16.0 14.0 12.0 10.0
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Data Source: 2003 and forward: Extracted from US IRI for Food Drug Mass IRI without Walmart 1995-1998: Nielsen including Wal-mart Nielsen Data reported historical through 2002
L'Oral USA Investor Days - May 2012 18

Cover Girl = 16.8%

2007

2008

2009

2010

2011

2012

USA: DOLLAR SHARE OF WOMENS HAIR COLOUR THROUGH Q1 2012

Share

70 60 50 40 30 20 10 0

LOral CPD* = 55.2%

P&G = 27.2%

1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

* LOreal CPD figures include Soft Sheen Carson for 2001 forward only
Data Source: Extracted from US IRI for Food Drug Mass IRI FDM without Walmart from 2003 forward 1995 through 1998 Nielsen Including Wal-Mart Nielsen data reported historical through 2002
L'Oral USA Investor Days - May 2012 19

#1 IN SALON HAIR MARKET

LOral USA

#1 with 36% Market Share 3 x P&G 5 x Estee Lauder

Source: Market size and LOreal USA share is from Professional Beauty Association survey; competitive shares are internal estimates.

L'Oral USA Investor Days - May 2012

20

LOREAL LUXE #2 IN LUXURY

z z z z z z

Estee Lauder #1 38%, LOral Luxe 16% Clarisonic fastest growing major brand in luxury skincare +144%. Kiehls rapid growth +20% YSL Signature +15% Kiehls Signature +20% Giorgio Armani Signature +11% & Rolf +22%

z Victor

Source: NPD 2011

L'Oral USA Investor Days - May 2012 21

THE BODY SHOP TURNING AROUND

z Distribution

Modernization Free Standing Stores Sephora in JC Penney Ulta e-Commerce

253 -9% from prior year New Pulse Boutiques introduced 300 doors 450 doors 16% of total sales, +28% in Q1

z Brand

Refresh (with pulse Boutiques) Beauty with Heart With new visuals, packaging Chocomania Sensorial body care Drop-of-Youth Plant stem cell skin care

z Results

+6.6% comp door in 2011 and similar in Q1 2012

L'Oral USA Investor Days - May 2012 22

LOREAL USA #1 BEAUTY ADVERTISER IN THE US

$ (000s)
Total Media Spend Advertiser Ranking (all advertisers)

2009
$853 #15

2010
$1,118 #10

2011
$1314 #6

Source: Kantar Measured Media ,

L'Oral USA Investor Days - May 2012

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BEAUTY SHARE OF VOICE

2009 LOreal USA P&G J&J Estee Lauder Coty 22.2% 26.5% 10.2% 3.7% 3.1%

2010 26.0% 23.6% 9.2% 4.6% 5.8%

2011 27.8% 23.5% 7.9% 5.8% 5.5%

Source: Kantar Measured Media , beauty categories excluding toiletries, soaps, razors/blades and oral products.

L'Oral USA Investor Days - May 2012

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POWERFUL NETWORK OF LABS & PLANTS

ILLINOIS InstituteforEthnicHair&Skin(Chicago) OHIO Solon Streetsboro

NEWYORK L'OralUSAHeadquarters

Washington Redmond

NEWJERSEY

Clark,Franklin,Piscataway Cranbury,SouthBrunswick, Burlington,Dayton Clark

COLORADO Aurora TEXAS Garland KENTUCKY Florence

6ManufacturingPlants 10Distribution/AssemblyCenters 3Research&DevelopmentSites

L'Oral USA Investor Days - May 2012 25

ARKANSAS NorthLittleRock

Note:SolonandClarkscheduledtoclosein2015

LEVERAGING SUSTAINABILITY Focus Areas for LOral USA:

z Behaving

operate

ethically and responsibly in the communities where we

Annual Citizens Day- engaging employees in local volunteer projects

Reducing impacts from our operations

Investing in renewable sources of energy: Franklin,
Piscataway, Berkeley Heights, North Little Rock

USGB LEED certifications: Franklin, Berkley Heights, Clark R&I pending Wall-to-Wall: In-house component supply Committing to aggressive footprint reduction targets
-50% Greenhouse Gases -50% Water consumption per unit of finished product -50% Waste per unit of finished product

L'Oral USA Investor Days - May 2012

26

A COMPANY OF TALENT

z 10,518 Employees of which 93% are Americans.

z Embracing z Our

Diversity:

recruitment of diverse profiles pushes our business forward and drives innovation and creativity across all our teams our Research & Innovation labs, our scientists represent more than 43 different countries of origin (120 company-wide)

z In

Exporting US Talents: 2009: 2011: 2012 goal: 10 US expats 29 US expats Over 50 US expats

L'Oral USA Investor Days - May 2012

27

The BEAUTY SHAKER AWARDS

The initiative was launched in 2010 as one event and 2 awards open to all LOral USA employees to recognize teams that excel in their jobs and incent individuals to think out of the box, dare, be creative.

1.

The Excellence award for teams or projects that have demonstrated excellence in an initiative in the last 12 months The Out of the Box award for individuals or teams that demonstrated Out of the box thinking in a concept/solution or for new breakthrough ideas that can shake the way we work or the Beauty World. In 2011, the Digital Category was added.

2.

3.

Approximately 2000 employees participated each year resulting in dozens of projects being implemented across all Divisions and Functions of the company.

L'Oral USA Investor Days - May 2012

28

LORALUSATOMORROW

THERE IS STILL OPPORTUNITY AHEAD

LOral Share Of Market

Total Beauty

18.5% 13.6%

19.6%

Source:FortheUSKline,excludingsoaps,razors/blades,oralcare.
L'Oral USA Investor Days - May 2012 30

TOP 5 GROWTH CONTRIBUTORS TO THE GOAL OF WINNING 1 BILLION NEW CONSUMERS

China India US 70MM Brazil Pakistan

L'Oral USA Investor Days - May Source: LOreal estimates 2012 Strategic Prospective December 2010

31

GEOGRAPHIC PENETRATION OPPORTUNITY

LOral North East Mid West South West 79.5% 73.3% 82.1% 77.0%

Source: Target Research Group 8/2010. Females 13+ who use any beauty product form selected manufacturers.

L'Oral USA Investor Days - May 2012

32

100MM NON-USERS OF LORAL PRODUCTS IN THE USA

Used Any LOral % Total Age 13+ Females Males Non-Users 62.3% 78.6% 45.9% Consumers 159.4MM 100.9MM 58.5MM 97MM

L'Oral USA Investor Days - May 2012 LUSA Research Study 2010: consumers who used any brand in past 12 months

33

CATEGORY OPPORTUNITIES
LOreal #3 10.6% LOreal #3 8.3%

Mens #1 Womens #4

Hand & Body #11 Facial skincare #2 Sun care #5

LOreal

#20

LOreal #1 22.3%
Nail #3

LOreal

#2

20.8%

Shampoo #3 Conditioner #3
Source: Kline excluding soaps, razors/blades and oral care.
L'Oral USA Investor Days - May 2012 34

ENGINES OF GROWTH

Under Weighted Categories

z Facial z Hand

Demographics
z Under z US

Skincare

Served Consumers Groups

and Body Fragrances

Population Growth

z Womens z Haircare

Product Innovation Digital Focus

Under Weighted Distribution

z E-Commerce z Free

Selective Acquisitions

Standing Stores

z DRTV

L'Oral USA Investor Days - May 2012

35

Thank you!

-------------------------Avertissement / Disclaimer ------------------------ Ce document ne constitue pas une offre de vente ou la sollicitation dune offre dachat de titres LOral. Si vous souhaitez obtenir des informations plus compltes concernant LOral, nous vous invitons vous reporter aux documents publics dposs en France auprs de lAutorit des Marchs Financiers (galement disponibles en version anglaise sur notre site Internet www.loreal-finance.com).Ce document peut contenir certaines dclarations de nature prvisionnelle. Bien que la Socit estime que ces dclarations reposent sur des hypothses raisonnables la date de publication du prsent communiqu, elles sont par nature soumises des risques et incertitudes pouvant donner lieu un cart entre les chiffres rels et ceux indiqus ou induits dans ces dclarations. "This document does not constitute an offer to sell, or a solicitation of an offer to buy, LOral shares. If you wish to obtain more comprehensive information about LOral, please refer to the public documents registered in France with the Autorit des Marchs Financiers (which are also available in English on our Internet site: www.lorealfinance.com).This document may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."