Progress on Business Transformation and Key Highlights in 2024 First Quarter

from the beginning

Progress on Business Transformation and Key Highlights in 2024 First Quarter

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• Key Highlights in 2024 Q1

• Japan: Growth Momentum Continues to Accelerate

• Japan: Progress on "Mirai Shift NIPPON 2025"(1)

• Japan: Progress on "Mirai Shift NIPPON 2025"(2)

• Travel Retail: Progress on Strategic Actions

• China: Progress on Strategic Actions

• Making Steady Progress in Global Cost Reduction and Profit Boosting

2024 First Quarter Results

• 2024 Q1 (January-March): Executive Summary

• Cle de Peau Beaute, Drunk Elephant and Fragrances Delivered RobustGrowth

• Japan: Delivered Robust Growth Led by Core Brands China and Travel Retail: Negative Growth Steadily Narrowing Americas and EMEA: Continued Strong Momentum

• Japan: Delivered Robust Growth by Strategic Marketing Focused on New Market Creation, Driving Share Gains Fueled by Core Brands

• China: Strengthening Strategic Investments in Growth Opportunities, Cle de Peau Beaute and NARS Contributed to Share Gains in Prestige

• Destocking on Track in TR, Continued Strong Momentum in Americas, EMEA

• COGS Lfl Ratio: Increased Due to Higher Inventory Write-offs; Expectto I mprove from Q2O nwards withR ecovery inC hina and TR

• Impact of Sales Decline in Travel RetailL argely Offset by Higher Profit Achieved in Japan and Other Regions

• 2024 Forecast

Be a Global Winner with Our Heritage

• Supplemental Data 1 KPI Trends

• Supplemental Data 2 Q1 Net Sales and Core Operating Profit by Reportable Segment

• Supplemental Data 3 Q1 Net Sales by Category

• Supplemental Data 4 Q1 Cost Structure

• Supplemental Data 5 Q1 SG&A

• Supplemental Data 6 Cash Flow Management

• Supplemental Data 7 Q1 Non-recurring Items

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Q&A

• Q&A 1

• Q&A 2

• Q&A 3

• Q&A 4

• Q&A 5

• Q&A 6