FUELING THE NEXT GENERATION OF CONSUMER- CENTRIC GROWTH NOVEMBER 4, 2026 .3 Aude Gandon CHIEF DIGITAL & MARKETING OFFICER CREATING CONSUMER DEMAND CREATING CONSUMER DEMAND BEAUTY REIMAGINED ACCELERATE BEST-IN-CLASS CONSUMER COVERAGE BOOST CONSUMER-FACING INVESTMENTS GROWTH ENABLERS Data & Insights Foundation | Consumer Investment Governance | Global Partner Network | Technology & AI NEW! EXPERTISE-LED MARKETING OPERATING MODEL ONE ELC One Team, One Culture, One Operating Ecosystem SCALING GLOBAL EXPERTISE Leverage Global Digital & Marketing Growth Engine DEEPEN LOCAL & CULTURAL RELEVANCE Catalyst Market Model Serving Local Consumer Embed the consumer at the core Expand consumer coverage & brand desirability Increase speed, relevance & marketing effectiveness Harness AI to transform consumer experience
Strategy Cycle | Business Review Cycle | New Product & Marketing Activation OUR GLOBAL CONSUMER INTELLIGENCE OPERATING SYSTEM INSIGHTS FORESIGHTS INSIGHTS-TO-ACTIONS FUELING GROWTH 1 Trusted Fact Base 2 Insights on Growth Intersection Multi-Layered Foresight Capabilities 3 4 Holistic Brand Performance Tracking 5 Agile & Rigorous NPL Learning & Testing Plan GLOBAL TO LOCAL INSIGHTS FOR CHINA CATEGORY GROWTH SKIN CARE Sustain China Leadership Through Luxury & Trade-Up Expand into the Skin-Health Ecosystem MAKEUP Capture the Emerging Skin Enhancement Opportunity FRAGRANCE Compete with Couture Through Persona-Led Franchises HAIR CARE Reignite Growth through Leave-In Treatment & Care-Styling Hybrids Culture creates buzz; community builds local relevance and commerce fuels the loyalty and advocacy driving the desirability flywheel CREATE CULTURAL CURRENCY BUILD SOCIAL MOMENTUM CULTURE COMMUNITY Buzz & Virality Local Relevance CONVERT DESIRE INTO ACTION COMMERCE Loyalty & Advocacy FUELING GROWTH & BRAND DESIRABILITY OUR CULTURAL ENGAGEMENT MODEL : 3 “C’S” EARNS DESIRABILITY How Brand Love is Earned BRAND EQUITY What a Brand Stands For ACTIVATED IN CULTURE How a Brand Inserts Into Culture EXPANDING CONSUMER COVERAGE WITH 360 ENGAGEMENT GLOBAL ACTIVATION WHERE WE’RE WINNING Delivering Best-in-Class Retail Experiences & High Traffic Shopping Moments WHERE WE’RE SCALING Optimizing Brand.com & Scaling Amazon globally WHERE WE’RE ACCELERATING Fueling Creator, Live & Conversational Commerce
EXPANDING CONSUMER COVERAGE WITH 360 ENGAGEMENT CHINA ACTIVATION WHERE WE’RE ACCELERATING WeChat & Gamified Livestream Programming WHERE WE’RE WINNING Creating Locally Relevant & Immersive Brand Experiences WHERE WE’RE SCALING Expanding 3PP & Pureplay E-Commerce Footprint From To 31 Regional Agencies 1 Global Agency, Consolidating to WPP Fragmented Buying, High Wastage Improved Media Effectiveness via Better Pricing & Quality Placements Performance Marketing Growth & Demand Capture Focus Full Funnel Media & Marketing Expertise CHINA MEDIA JOINT BUSINESS PARTNERS GLOBAL MEDIA JOINT BUSINESS PARTNERS GROWTH MARKETING ENGINE TO OPTIMIZE CONSUMER-FACING INVESTMENTS GLOBAL MEDIA TRANSFORMATION Creative personalization Agentic growth audience identification Full funnel Global planning Real-time optimization Locally relevant execution GROWTH MARKETING ENGINE TO OPTIMIZE CONSUMER-FACING INVESTMENTS ACCELERATING SPEED & EFFECTIVENESS Global to local model in action 3,500 Campaigns Live
Enabled by a Connected, Unified Data Foundation & Intelligence Engine across the Consumer and Marketing Ecosystem ACCELERATING AI ACROSS MARKETING & DIGITAL ENTERPRISE MARKETING ENABLERS Consumer Intelligence & Foresight Engine Growth Marketing & Media Intelligence Generative Engine Optimization BEAUTY REIMAGINED PRIORITIES Accelerate Best-In-Class Consumer Coverage Boost Consumer Facing Investments Reimagine the Way We Work CONSUMER INTELLIGENCE GROWTH MARKETING & MEDIA GLOBAL E-COMMERCE SOURCING NEW CONSUMER GROWTH BYCREATING CONSUMER DEMAND POWERED BY MARKETING & DIGITAL GROWTH ENGINE STRENGTHENING CONSUMER INTELLIGENCE INCREASING CULTURAL RELEVANCE IMPROVING MARKETING EFFECTIVENESS SCALING AI ACROSS THE MARKETING ORGANIZATION René Lammers Ph.D., EVP, CHIEF RESEARCH & INNOVATION OFFICER POWERING GROWTH THROUGH DISRUPTIVE INNOVATION
SCIENCE AND INNOVATION ARE ENDURING SOURCES OF COMPETITIVE ADVANTAGE THREE ENDURING STRENGTHS Product quality and innovation Consumer obsessedDecades of leadership in beauty science OUR INTEGRATED INNOVATION MODEL CREATES DIFFERENTIATED PRODUCTS CONSUMERS LOVE END-TO-END RESEARCH & INNOVATION LIFECYCLE SKIN CARE HAIR CARE MAKEUP (COMPLEXION) SCIENCE MAGIC PE RF O RM A N C E- LE D D ESIRA BILITY-LED MAKEUP (COLOR) FRAGRANCE Package Test & Claims Story TellDiscover Formulate 20+ YEARS LEADING LONGEVITY SCIENCE R&I EFFICIENCY1 TOP QUARTILE30% OF INNOVATION IN <12 MONTHS AMBITION +200–250 bps INNOVATION CONTRIBUTION IN FISCAL 2027 AMBITION 2X INGREDIENT DISCOVERY OUTPUT AMBITION 1. Calculated based on competitor peer set per latest SEC filings A DIFFERENTIATED INNOVATION ENGINE THAT DELIVERS LONG-TERM COMPETITIVE ADVANTAGE
TECHNICAL INSIGHTS AI & DIGITAL TOOLS SCIENTIFIC PLATFORMS GLOBAL KNOWLEDGE SHARED SCIENCE, DATA & LEARNING SHANGHAI Rapid experimentation, validation and ecosystem TORONTO Clinical and testing innovation NEW YORK Core science and global platforms INDIA Ayurvedic Skin care MINNESOTA Hair care and naturally derived innovation PARIS Fragrance science and creative innovation ONE CONNECTED GLOBAL R&I NETWORK CHINA INNOVATION ECOSYSTEM Consumer & Digital Talent Strategic Suppliers Biotech & Medical Partners Universities OUR CHINA INNOVATION CENTER—A BLUEPRINT OF SUCCESS TO SCALE GLOBALLY SUPPORTED BY A CONNECTED R&I DATA FOUNDATION CHINA-FOR-THE-WORLDCHINA-FOR-CHINA SPEED 9 MO Average speed to market of last 5 China-for-China launches <15 MO Time to launch global makeup programs in the last 6 months TALENT 71% Scientists hold Advanced degrees (Masters and above) 2/3 Estée Lauder Companies’ scientists in China are women 13 YEARS Average # years working experience in the industry INSIGHT VALIDATE Early discovery through partnerships with 6 leading Chinese universities Collaboration with 4 Chinese medical and clinical partners SCALE Access to wide range of strategic and start-up suppliers and TPMs REACH AI IS ACCELERATING THE SPEED AND EFFICIENCY OF OUR INNOVATION NETWORK AI INGREDIENT DISCOVERY DIFFERENTIATED SCIENCE, ACCELERATED BY AI AI-EMPOWERED OPEN INNOVATION Identifying high-potential actives faster TARGET Consumer benefit SCREEN Strategic partners ADVANCE Validate the highest- potential ingredients FORMULA NAVIGATOR SPEED, COST & REGULATORY ACCURACY RIGHT-FIRST-TIME FORMULA DEVELOPMENT Improving speed, quality and decision confidence EVALUATE Formulas early ACTIVATE Insights and make decisions faster OPTIMIZE Reduce iterations and development cycle time A DIFFERENTIATED CHINA-FOR-CHINA PRODUCT LAUNCHED AT SPEED First to market recombinant PDRN With breakthrough multi-platform technology, it boosts recovery and enhances benefits post-procedure Speed-to-market: Launched in 9 months
A POWERFUL CHINA-FOR-THE-WORLD INNOVATION THAT REDEFINES SKIN SCIENCE DECADES OF ELC SKIN SCIENCE Builds on deep expertise in skin biology and collagen research PATENT-PENDING BIOTECH FORMULA Targets multiple pathways associated with aging MEASURABLE BIOLOGICAL AND VISIBLE OUTCOMES Demonstrates improvements across multiple consumer and clinical studies READY TO POWER THE NEXT WAVE OF GROWTH ONE CONNECTED, SCIENCE-LED R&I ENGINE: POWERING GROWTH THROUGH DISRUPTIVE INNOVATION DEEP SCIENTIFIC HERITAGE DISRUPTIVE INNOVATION AT SPEED POWERED BY AI, DATA & OUR SCIENTISTS Roberto Canevari EVP, CHIEF VALUE CHAIN OFFICER DELIVERING GROWTH THROUGH A DYNAMIC VALUE CHAIN OUR END-TO-END VALUE CHAIN: TECHNICAL EXPERTISE WITH BRAND AND BUSINESS KNOW HOW BRAND VALUE CHAIN REGION VALUE CHAIN PLAN SOURCE MAKE USE REGENERATEMOVE QUALITY
A VALUE CHAIN STRATEGY IN SERVICE OF BEAUTY REIMAGINED BEAUTY REIMAGINED STRATEGIC PRIORITIES TSR DRIVERS MARGIN / CASHGROWTH ACCELERATE BEST- IN-CLASS CONSUMER COVERAGE FUEL SUSTAINABLE GROWTH THROUGH BOLD EFFICIENCIES REIMAGINE THE WAY WE WORK BOOST OUR CONSUMER-FACING INVESTMENTS CREATE TRANSFORMATIVE INNOVATION Technology x Talent Customer & Consumer Centricity Dynamic Value Chain Value Creation THE BEAUTY CONSUMER LANDSCAPE IS CHANGING E-COMMERCE TAKES THE LEAD. MORE CHANNELS. ALWAYS ON. DEMAND IN REAL TIME. Amazon TikTok ShopBrand.com 24/7 Livestream Specialty-Multi Freestanding Stores GLOBAL LANDSCAPE 1.03B Users 850M Daily Active Users ~1.7 HRS $621B Annual GMV DOUYIN CONTENT, COMMUNITY AND COMMERCE CONVERGE IN A SINGLE SCROLL DYNAMIC VALUE CHAIN: DESIGNED FOR SPEED, BUILT FOR AGILITY, ENGINEERED FOR RESILIENT GROWTH SPEED Win The Moment That Matters INNOVATION TIME TO MARKET 30% of innovation in <12 months 60% of innovation in <18 monthsA M BI TI O N S AGILITY Pivot With The Consumer SOURCE TRANSFERS 2x Faster Real-Time Dynamic X-Regions DEPLOYMENT A M BI TI O N S RESILIENCE Deliver Consistently BUSINESS CONTINUITY 100% Strategic Finished Goods 100% Strategic Raw & Pack SUPPLY SECURITY A M BI TI O N S
Resilience & agility SOURCE Regionalization across raw materials & packaging Localized for Made In China products OUR HIGHLY DIVERSIFIED, GLOBAL NETWORK IS REGIONALIZED FOR BOTH RESILIENCE & AGILITY MAKE Resilience & agility >70% 100% Asia Manufacturing for China +200% Regionalized Manufacturing >50% HainanGuangzhouShanghai WuhanShanghai FY23 From 1 FY26 To 4 DELIVER: WE HAVE EXPANDED COVERAGE IN CHINA FOR CUSTOMER PROXIMITY, AND ADDED AGILITY, SPEED & RESILIENCE 2X Increase in Next Day Delivery State of the Art AGILITY, SPEED & RESILIENCE Compared to FY21 Technology & Automation HAINAN IS LIVEA HIGHLY RESPONSIVE & DYNAMIC NETWORK INDUSTRY BEST- IN-CLASS CHINA FULFILLMENT NETWORK 44X capacity surge vs. normal day FIRST We are AI-POWERED VALUE CHAIN II. DECISION INTELLIGENCE Inventory Deployment & Service Quality Intelligence Time to Insights; Fill Rate; Forecasting AccuracySpeed to Market; Rework Reduction Hours Saved; Process Cycle Time; Efficiency I. NEW CAPABILITIES & GROWTH III. INDIVIDUAL PRODUCTIVITY & PROCESS AUTOMATIONS Digital Twins for Manufacturing Packaging Innovation Process Simplification Manufacturing Line Efficiency Value Chain Team Enablement AI EVERYWHERE Value ChainSelect In-Flight Projects Outcomes
VALUE CREATION: THREE LEVERS DRIVING STRUCTURAL & SYSTEMIC COST ADVANTAGE NETWORK SIMPLIFICATION OPERATIONAL EXCELLENCE CALCULATED INVESTMENTS Lean where we can Accelerators & continuous improvement methodologies Strong where it matters WE ARE DELIVERING GROSS MARGIN EXPANSION FY24 Actual 71.7% 75.5% FY26 Actual GROSS MARGIN +3.8 pts GROSS INVENTORY FY24 Actual $2.6B $2.3B FY26 Actual -8% MARGIN EXPANSION GROSS MARGIN KEY LEVERS Zero Waste Overhead & Manufacturing Efficiencies Direct Cost (Materials & Freight) Innovation Accretion Promo Efficiency Design to Consumer Value SAFETY AS A VALUE
READY TO DELIVER GROWTHONE CONNECTED, FUTURE READY VALUE CHAIN: PRIMED FOR WHAT COMES NEXT SENSING THE CONSUMER SHIFT RESPONDING WITH REGIONALIZED VALUE CHAIN CREATING SUSTAINED VALUE POWERED BY TECH, AI & OUR PEOPLE Q&A