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L'OREAL SA 2023-2024 Proxy Voting Records

Compiled from SEC Form N-PX filings and L'OREAL SA’s Form 8-K (Item 5.07 on EDGAR). Page generated 02 October 2026.

72Reported items
166Asset managers
11,970Fund votes
2024-04-23Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore L'OREAL SA in the interactive database Compare manager voting policies

Official 2023-2024 meeting results reported by L'OREAL SA

These tallies are L'OREAL SA’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

L'OREAL SA — official shareholder meeting results, meeting held 2024-04-23
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Kathryn J. Boor	217,291,587	4,028,099	111,834	--	12,198,373	Majority: yes
Elect Director: Mark J. Costa	219,844,812	1,470,804	115,904	--	12,198,373	Majority: yes
Elect Director: Carol Anthony (John) Davidson	217,470,225	3,847,751	113,544	--	12,198,373	Majority: yes
Elect Director: Roger W. Ferguson, Jr.	214,251,916	7,058,252	121,352	--	12,198,373	Majority: yes
Elect Director: John F. Ferraro	217,705,243	3,608,764	117,513	--	12,198,373	Majority: yes
Elect Director: J. Erik Fyrwald	218,261,318	3,052,643	117,559	--	12,198,373	Majority: yes
Elect Director: Christina Gold	202,313,836	19,004,165	113,519	--	12,198,373	Majority: yes
Elect Director: Gary Hu	216,597,507	4,718,672	115,341	--	12,198,373	Majority: yes
Elect Director: Kevin O'Byrne	215,973,276	5,207,957	250,287	--	12,198,373	Majority: yes
Elect Director: Dawn C. Willoughby	218,132,029	3,183,542	115,949	--	12,198,373	Majority: yes
The proposal to ratify the Audit Committee's selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for 2024 received the following votes:	224,390,748	9,009,554	229,591	--	--	Majority: yes
The advisory proposal to approve the compensation paid to the Company's named executive officers in 2023, as disclosed in the Proxy Statement, received the following votes:	207,742,404	13,502,197	186,919	--	12,198,373	Majority: yes
The proposal to approve the Company's Amended and Restated 2021 Stock Award and Incentive Plan, as disclosed in the Proxy Statement, received the following votes:	214,081,831	7,166,112	183,577	--	12,198,373	Majority: yes

This meeting is also recorded here as 2024-05-01; both records come from the same filing, so the date should be checked against it.

Source: L'OREAL SA, Form 8-K — read the filing on EDGAR.

How asset managers voted at the L'OREAL SA 2023-2024 meeting

Each item below shows how the 166 asset managers that disclosed a L'OREAL SA vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of L'OREAL SA’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Approve Compensation of Nicolas Hieronimus, CEO

COMPENSATION

100% fund support · no official result

FOR 100%

The 95 asset managers below cast 100% of the shares they voted on this item FOR (2,368,920,681 for, 0 against).

FOR: 2,368,920,681 (100.0%)

Largest asset managers voting on “Approve Compensation of Nicolas Hieronimus, CEO” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Walter Scott & Partners Ltd	2,271,252	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
JPMorgan	814,594	For
Invesco	724,571	For
APG Asset Management US Inc.	631,912	For
State Street	576,391	For
Desjardins Global Asset Management Inc.	531,284	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For

Showing the 25 largest of 95 asset managers. See all 95 in the interactive database.

2. Approve Compensation of Jean-Paul Agon, Chairman of the Board

COMPENSATION

100% fund support · no official result

FOR 100%

The 94 asset managers below cast 100% of the shares they voted on this item FOR (2,368,919,870 for, 0 against).

FOR: 2,368,919,870 (100.0%)

Largest asset managers voting on “Approve Compensation of Jean-Paul Agon, Chairman of the Board” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Walter Scott & Partners Ltd	2,271,252	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
JPMorgan	814,594	For
Invesco	724,571	For
APG Asset Management US Inc.	631,912	For
State Street	576,391	For
Desjardins Global Asset Management Inc.	531,284	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For

Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.

3. Approve Compensation Report of Corporate Officers

COMPENSATIONMajority of the votes cast: yes

Combines 2 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 207,742,404AGAINST: 13,502,197

L'OREAL SA’s own tally for this item (“The advisory proposal to approve the compensation paid to the Company's named executive officers in 2023, as disclosed in the Proxy Statement, received the following votes:”): 207,742,404 for, 13,502,197 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

The 91 asset managers below cast 99.9% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the total votes cast at the meeting.

FOR 99.9%

FOR: 100.0%AGAINST: 0.0%

Largest asset managers voting on “Approve Compensation Report of Corporate Officers” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
GAM Holding AG	107,683	For

Showing the 25 largest of 91 asset managers. See all 91 in the interactive database.

4. Approve Remuneration Policy of CEO

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,363,451,770 for, 1,181,279 against).

FOR: 2,363,451,770 (100.0%)AGAINST: 1,181,279 (0.0%)

Largest asset managers voting on “Approve Remuneration Policy of CEO” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	4,347,216	0	For
Fidelity	4,302,601	0	For
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	295,012	429,559	Against
State Street	0	576,391	Against
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	290,124	0	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	27,067	166,946	Against
MFS	171,444	0	For
WisdomTree	150,239	0	For
RWC Asset Management LLP	145,769	0	For
Victory Capital	144,625	0	For
American Century	143,299	0	For
Equitable	136,898	0	For
Principal	134,189	0	For
Northern Trust	129,897	0	For
DWS	96,815	0	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

5. Approve Remuneration Policy of Chairman of the Board

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,632,334 for, 715 against).

FOR: 2,364,632,334 (100.0%)AGAINST: 715 (0.0%)

Largest asset managers voting on “Approve Remuneration Policy of Chairman of the Board” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

6. Approve Remuneration Policy of Directors

COMPENSATION

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,632,334 for, 715 against).

FOR: 2,364,632,334 (100.0%)AGAINST: 715 (0.0%)

Largest asset managers voting on “Approve Remuneration Policy of Directors” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

7. Authorize Capital Issuances for Use in Employee Stock Purchase Plans

CAPITAL STRUCTURE

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,622,157 for, 10,892 against).

FOR: 2,364,622,157 (100.0%)AGAINST: 10,892 (0.0%)

Largest asset managers voting on “Authorize Capital Issuances for Use in Employee Stock Purchase Plans” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

8. Authorize Capital Issuances for Use in Employee Stock Purchase Plans Reserved for Employees of International Subsidiaries

CAPITAL STRUCTURE

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,622,157 for, 10,892 against).

FOR: 2,364,622,157 (100.0%)AGAINST: 10,892 (0.0%)

Largest asset managers voting on “Authorize Capital Issuances for Use in Employee Stock Purchase Plans Reserved for Employees of International S” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
RWC Asset Management LLP	145,769	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

9. Authorize up to 0.6 Percent of Issued Capital for Use in Restricted Stock Plans

CAPITAL STRUCTURE

99.9% fund support · no official result

FOR 99.9%

The 90 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,489,750 for, 143,299 against).

FOR: 2,364,489,750 (100.0%)AGAINST: 143,299 (0.0%)

Largest asset managers voting on “Authorize up to 0.6 Percent of Issued Capital for Use in Restricted Stock Plans” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	4,347,216	0	For
Fidelity	4,302,601	0	For
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	724,571	0	For
State Street	576,391	0	For
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	290,124	0	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	194,013	0	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
RWC Asset Management LLP	145,769	0	For
Victory Capital	144,625	0	For
American Century	0	143,299	Against
Equitable	136,898	0	For
Principal	134,189	0	For
Northern Trust	129,897	0	For
DWS	96,815	0	For

Showing the 25 largest of 90 asset managers. See all 90 in the interactive database.

10. Appoint Deloitte & Associes as Auditor Responsible for Certifying Sustainability Information

CORPORATE GOVERNANCEENVIRONMENT OR CLIMATE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,366,157,175 for, 0 against).

FOR: 2,366,157,175 (100.0%)

Largest asset managers voting on “Appoint Deloitte & Associes as Auditor Responsible for Certifying Sustainability Information” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
RWC Asset Management LLP	1,672,395	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

11. Appoint Ernst & Young Audit as Auditor Responsible for Certifying Sustainability Information

CORPORATE GOVERNANCEENVIRONMENT OR CLIMATE

99.9% fund support · no official result

FOR 99.9%

The 89 asset managers below cast 99.9% of the shares they voted on this item FOR (2,366,135,800 for, 21,375 against).

FOR: 2,366,135,800 (100.0%)AGAINST: 21,375 (0.0%)

Largest asset managers voting on “Appoint Ernst & Young Audit as Auditor Responsible for Certifying Sustainability Information” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
RWC Asset Management LLP	1,672,395	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

12. Approve Allocation of Income and Dividends of EUR 6.60 per Share and an Extra of EUR 0.66 per Share to Long Term Registered Shares

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,368,395,279 for, 0 against).

FOR: 2,368,395,279 (100.0%)

Largest asset managers voting on “Approve Allocation of Income and Dividends of EUR 6.60 per Share and an Extra of EUR 0.66 per Share to Long Te” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
RWC Asset Management LLP	3,910,499	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

13. Approve Consolidated Financial Statements and Statutory Reports

CORPORATE GOVERNANCE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,365,058,080 for, 0 against).

FOR: 2,365,058,080 (100.0%)

Largest asset managers voting on “Approve Consolidated Financial Statements and Statutory Reports” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
RWC Asset Management LLP	573,300	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

14. Approve Financial Statements and Statutory Reports

CORPORATE GOVERNANCE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,365,058,080 for, 0 against).

FOR: 2,365,058,080 (100.0%)

Largest asset managers voting on “Approve Financial Statements and Statutory Reports” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
RWC Asset Management LLP	573,300	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

15. Authorize Decrease in Share Capital via Cancellation of Repurchased Shares

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,367,506,803 for, 0 against).

FOR: 2,367,506,803 (100.0%)

Largest asset managers voting on “Authorize Decrease in Share Capital via Cancellation of Repurchased Shares” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
RWC Asset Management LLP	3,022,023	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

16. Authorize Filing of Required Documents/Other Formalities

CORPORATE GOVERNANCE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,365,058,080 for, 0 against).

FOR: 2,365,058,080 (100.0%)

Largest asset managers voting on “Authorize Filing of Required Documents/Other Formalities” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
RWC Asset Management LLP	573,300	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

17. Authorize Repurchase of Up to 10 Percent of Issued Share Capital

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 89 asset managers below cast 100% of the shares they voted on this item FOR (2,367,506,803 for, 0 against).

FOR: 2,367,506,803 (100.0%)

Largest asset managers voting on “Authorize Repurchase of Up to 10 Percent of Issued Share Capital” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
SCM Trust	2,340,000,000	For
Vanguard	6,210,930	For
BlackRock	4,347,216	For
Fidelity	4,302,601	For
RWC Asset Management LLP	3,022,023	For
Capital Group	1,849,993	For
Goldman Sachs	977,014	For
TIAA	970,290	For
Invesco	724,571	For
State Street	576,391	For
T. Rowe Price	510,149	For
BNY Mellon	399,841	For
Morgan Stanley	290,124	For
Thornburg	225,754	For
Legg Mason	216,918	For
Dimensional	201,129	For
Lincoln Financial	194,013	For
MFS	171,444	For
WisdomTree	150,239	For
Victory Capital	144,625	For
American Century	143,299	For
Equitable	136,898	For
Principal	134,189	For
Northern Trust	129,897	For
DWS	96,815	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

18. Elect Jacques Ripoll as Director

DIRECTOR ELECTIONS

99.9% fund support · no official result

FOR 99.9%

The 89 asset managers below cast 99.9% of the shares they voted on this item FOR (2,364,403,557 for, 83,190 against).

FOR: 2,364,403,557 (100.0%)AGAINST: 83,190 (0.0%)

Largest asset managers voting on “Elect Jacques Ripoll as Director” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	4,347,216	0	For
Fidelity	4,302,601	0	For
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	724,571	0	For
State Street	576,391	0	For
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	289,018	1,106	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	194,013	0	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
Victory Capital	144,625	0	For
American Century	143,299	0	For
Equitable	136,898	0	For
Principal	134,189	0	For
Northern Trust	129,897	0	For
DWS	96,815	0	For
AIG/SunAmerica	89,640	0	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

19. Reelect Beatrice Guillaume-Grabisch as Director

DIRECTOR ELECTIONS

99.8% fund support · no official result

FOR 99.8%

The 89 asset managers below cast 99.8% of the shares they voted on this item FOR (2,360,346,415 for, 4,140,332 against).

FOR: 2,360,346,415 (99.8%)AGAINST: 4,140,332 (0.2%)

Largest asset managers voting on “Reelect Beatrice Guillaume-Grabisch as Director” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	4,347,216	0	For
Fidelity	1,600,319	2,702,282	Against
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	432,630	291,941	For
State Street	0	576,391	Against
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	289,018	1,106	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	159,491	34,522	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
Victory Capital	144,625	0	For
American Century	0	143,299	Against
Equitable	79,097	57,801	For
Principal	134,189	0	For
Northern Trust	18,243	111,654	Against
DWS	96,815	0	For
AIG/SunAmerica	89,640	0	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

20. Reelect Ilham Kadri as Director

DIRECTOR ELECTIONS

99.6% fund support · no official result

FOR 99.6%

The 89 asset managers below cast 99.6% of the shares they voted on this item FOR (2,356,789,204 for, 7,697,543 against).

FOR: 2,356,789,204 (99.7%)AGAINST: 7,697,543 (0.3%)

Largest asset managers voting on “Reelect Ilham Kadri as Director” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	0	4,347,216	Against
Fidelity	4,302,601	0	For
Capital Group	0	1,849,993	Against
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	724,571	0	For
State Street	0	576,391	Against
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	9,820	280,304	Against
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	157,837	36,176	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
Victory Capital	144,625	0	For
American Century	143,299	0	For
Equitable	8,460	128,438	Against
Principal	134,189	0	For
Northern Trust	18,243	111,654	Against
DWS	96,815	0	For
AIG/SunAmerica	89,640	0	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

21. Reelect Jean-Victor Meyers as Director

DIRECTOR ELECTIONS

99.8% fund support · no official result

FOR 99.8%

The 89 asset managers below cast 99.8% of the shares they voted on this item FOR (2,361,602,406 for, 2,882,374 against).

FOR: 2,361,602,406 (99.9%)AGAINST: 2,882,374 (0.1%)ABSTAIN: 1,967 (0.0%)

Largest asset managers voting on “Reelect Jean-Victor Meyers as Director” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
BlackRock	4,347,216	0	For
Fidelity	1,600,319	2,702,282	Against
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	724,571	0	For
State Street	576,391	0	For
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	289,018	1,106	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	194,013	0	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
Victory Capital	144,625	0	For
American Century	143,299	0	For
Equitable	79,097	57,801	For
Principal	134,189	0	For
Northern Trust	129,897	0	For
DWS	96,815	0	For
AIG/SunAmerica	89,640	0	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

22. Reelect Nicolas Meyers as Director

DIRECTOR ELECTIONS

99.8% fund support · no official result

FOR 99.8%

The 89 asset managers below cast 99.8% of the shares they voted on this item FOR (2,365,556,017 for, 4,140,332 against).

FOR: 2,365,556,017 (99.8%)AGAINST: 4,140,332 (0.2%)

Largest asset managers voting on “Reelect Nicolas Meyers as Director” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
SCM Trust	2,340,000,000	0	For
Vanguard	6,210,930	0	For
RWC Asset Management LLP	5,211,569	0	For
BlackRock	4,347,216	0	For
Fidelity	1,600,319	2,702,282	Against
Capital Group	1,849,993	0	For
Goldman Sachs	977,014	0	For
TIAA	970,290	0	For
Invesco	432,630	291,941	For
State Street	0	576,391	Against
T. Rowe Price	510,149	0	For
BNY Mellon	399,841	0	For
Morgan Stanley	289,018	1,106	For
Thornburg	225,754	0	For
Legg Mason	216,918	0	For
Dimensional	201,129	0	For
Lincoln Financial	159,491	34,522	For
MFS	171,444	0	For
WisdomTree	150,239	0	For
Victory Capital	144,625	0	For
American Century	0	143,299	Against
Equitable	79,097	57,801	For
Principal	134,189	0	For
Northern Trust	18,243	111,654	Against
DWS	96,815	0	For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

23. APPROVAL OF THE FIXED AND VARIABLE COMPONENTS OF THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING FINANCIAL YEAR 2023 OR ALLOCATED FOR THAT YEAR TO MR JEAN-PAUL AGON, IN HIS CAPACITY AS CHAIRMAN OF THE BOARD OF DIRECTORS

SECTION 14A SAY-ON-PAY VOTES

99.8% fund support · no official result

FOR 96%

The 59 asset managers below cast 99.8% of the shares they voted on this item FOR (9,759,965 for, 11,683 against).

FOR: 9,759,965 (96.1%)AGAINST: 11,683 (0.1%)NOT VOTED: 383,345 (3.8%)

Largest asset managers voting on “APPROVAL OF THE FIXED AND VARIABLE COMPONENTS OF THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING F” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
BAILLIE GIFFORD OVERSEAS LTD	2,087,088	0	For
Vanguard	1,694,724	0	For
HARDING LOEVNER LP	1,098,072	0	For
Investment Managers Series Trust	893,868	0	For
WCM INVESTMENT MANAGEMENT, LLC	843,379	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
Korea Investment CORP	212,053	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Northern Trust	185,107	0	For
Jackson National	169,011	0	For
BAILLIE GIFFORD & CO LTD	159,141	0	For
John Hancock	137,899	0	For
1832 Asset Management L.P.	133,975	0	For
Siemens Fonds Invest GmbH	71,171	0	For
JARISLOWSKY, FRASER Ltd	55,839	0	For
Wilkinson Global Asset Management LLC	0	0	Not Voted
YCG Funds	31,022	0	For
Baillie Gifford Investment Management (Europe) Ltd	23,126	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
Bares Capital Management, Inc.	14,700	0	For
MARSICO CAPITAL MANAGEMENT LLC	10,997	0	For
GREEN CENTURY FUNDS	0	10,812	Against

Showing the 25 largest of 59 asset managers. See all 59 in the interactive database.

24. APPROVAL OF THE FIXED AND VARIABLE COMPONENTS OF THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING FINANCIAL YEAR 2023 OR ALLOCATED FOR THAT YEAR TO MR NICOLAS HIERONIMUS, IN HIS CAPACITY AS CHIEF EXECUTIVE OFFICER

SECTION 14A SAY-ON-PAY VOTES

99.9% fund support · no official result

FOR 96%

The 59 asset managers below cast 99.9% of the shares they voted on this item FOR (9,764,766 for, 6,882 against).

FOR: 9,764,766 (96.2%)AGAINST: 6,882 (0.1%)NOT VOTED: 383,345 (3.8%)

Largest asset managers voting on “APPROVAL OF THE FIXED AND VARIABLE COMPONENTS OF THE TOTAL REMUNERATION AND BENEFITS OF ANY KIND PAID DURING F” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
BAILLIE GIFFORD OVERSEAS LTD	2,087,088	0	For
Vanguard	1,694,724	0	For
HARDING LOEVNER LP	1,098,072	0	For
Investment Managers Series Trust	893,868	0	For
WCM INVESTMENT MANAGEMENT, LLC	843,379	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	515,859	214	For
Bridge Builder Trust	269,911	0	For
Korea Investment CORP	212,053	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Northern Trust	185,107	0	For
Jackson National	169,011	0	For
BAILLIE GIFFORD & CO LTD	159,141	0	For
John Hancock	137,899	0	For
1832 Asset Management L.P.	133,975	0	For
Siemens Fonds Invest GmbH	71,171	0	For
JARISLOWSKY, FRASER Ltd	55,839	0	For
Wilkinson Global Asset Management LLC	0	0	Not Voted
YCG Funds	31,022	0	For
Baillie Gifford Investment Management (Europe) Ltd	23,126	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
Bares Capital Management, Inc.	14,700	0	For
MARSICO CAPITAL MANAGEMENT LLC	10,997	0	For
GREEN CENTURY FUNDS	10,812	0	For

Showing the 25 largest of 59 asset managers. See all 59 in the interactive database.

25. ALLOCATION OF THE COMPANY'S NET INCOME FOR FINANCIAL YEAR 2023 AND SETTING OF THE DIVIDEND

CAPITAL STRUCTURE

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (4,842,676 for, 0 against).

FOR: 4,842,676 (100.0%)

Largest asset managers voting on “ALLOCATION OF THE COMPANY'S NET INCOME FOR FINANCIAL YEAR 2023 AND SETTING OF THE DIVIDEND” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
YCG Funds	31,022	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

26. APPOINTMENT OF DELOITTE & ASSOCIES AS STATUTORY AUDITOR FOR THE CERTIFICATION OF SUSTAINABILITY REPORTING

OTHER

99.9% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.9% of the shares they voted on this item FOR (4,830,374 for, 1,490 against).

FOR: 4,830,374 (99.7%)AGAINST: 1,490 (0.0%)ABSTAIN: 10,812 (0.2%)

Largest asset managers voting on “APPOINTMENT OF DELOITTE & ASSOCIES AS STATUTORY AUDITOR FOR THE CERTIFICATION OF SUSTAINABILITY REPORTING” at L'OREAL SA, 2023-2024
Asset manager	For	Abstain	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Abstain
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

27. APPOINTMENT OF ERNST & YOUNG AUDIT AS STATUTORY AUDITOR FOR THE CERTIFICATION OF SUSTAINABILITY REPORTING

OTHER

99.2% fund support · no official result

FOR 99.0%

The 32 asset managers below cast 99.2% of the shares they voted on this item FOR (4,797,674 for, 34,190 against).

FOR: 4,797,674 (99.1%)AGAINST: 34,190 (0.7%)ABSTAIN: 10,812 (0.2%)

Largest asset managers voting on “APPOINTMENT OF ERNST & YOUNG AUDIT AS STATUTORY AUDITOR FOR THE CERTIFICATION OF SUSTAINABILITY REPORTING” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Abstain	Vote
Vanguard	1,694,724	0	0	For
Investment Managers Series Trust	893,868	0	0	For
HARDING LOEVNER FUNDS INC	816,295	0	0	For
HARBOR FUNDS	516,073	0	0	For
Bridge Builder Trust	237,211	32,700	0	For
BAILLIE GIFFORD FUNDS	210,635	0	0	For
Jackson National	169,011	0	0	For
John Hancock	137,899	0	0	For
YCG Funds	31,022	0	0	For
Goldman Sachs	21,800	0	0	For
BBH Trust	14,948	0	0	For
GREEN CENTURY FUNDS	0	0	10,812	Abstain
Manning & Napier	8,006	0	0	For
Harbor ETF Trust	6,668	0	0	For
CARILLON SERIES TRUST	5,558	0	0	For
UNIFIED SERIES TRUST	4,177	0	0	For
PFM Multi-Manager Series Trust	3,910	0	0	For
SATURNA INVESTMENT TRUST	3,400	0	0	For
Brighthouse	3,338	0	0	For
American Beacon Institutional Funds Trust	3,140	0	0	For
LKCM Funds	2,913	0	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	0	For
Listed Funds Trust	2,580	0	0	For
Pacer Funds Trust	2,064	0	0	For
GPS Funds I	1,643	0	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

28. APPOINTMENT OF MR JACQUES RIPOLL AS DIRECTOR

DIRECTOR ELECTIONS

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,829,074 for, 13,602 against).

FOR: 4,829,074 (99.7%)AGAINST: 13,602 (0.3%)

Largest asset managers voting on “APPOINTMENT OF MR JACQUES RIPOLL AS DIRECTOR” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	135,109	2,790	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

29. APPROVAL OF THE 2023 CONSOLIDATED FINANCIAL STATEMENTS

OTHER

100% fund support · no official result

FOR 100%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (4,842,676 for, 0 against).

FOR: 4,842,676 (100.0%)

Largest asset managers voting on “APPROVAL OF THE 2023 CONSOLIDATED FINANCIAL STATEMENTS” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
YCG Funds	31,022	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

30. APPROVAL OF THE 2023 PARENT COMPANY FINANCIAL STATEMENTS

OTHER

100% fund support · no official result

FOR 100%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (4,842,676 for, 0 against).

FOR: 4,842,676 (100.0%)

Largest asset managers voting on “APPROVAL OF THE 2023 PARENT COMPANY FINANCIAL STATEMENTS” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
YCG Funds	31,022	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

31. APPROVAL OF THE INFORMATION ON THE REMUNERATION OF EACH OF THE DIRECTORS AND CORPORATE OFFICERS REQUIRED BY ARTICLE L. 22-10-9, I OF THE FRENCH COMMERCIAL CODE

COMPENSATION

99.8% fund support · no official result

FOR 99.6%

The 32 asset managers below cast 99.8% of the shares they voted on this item FOR (4,824,982 for, 6,882 against).

FOR: 4,824,982 (99.6%)AGAINST: 6,882 (0.1%)ABSTAIN: 10,812 (0.2%)

Largest asset managers voting on “APPROVAL OF THE INFORMATION ON THE REMUNERATION OF EACH OF THE DIRECTORS AND CORPORATE OFFICERS REQUIRED BY AR” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Abstain	Vote
Vanguard	1,694,724	0	0	For
Investment Managers Series Trust	893,868	0	0	For
HARDING LOEVNER FUNDS INC	816,295	0	0	For
HARBOR FUNDS	515,859	214	0	For
Bridge Builder Trust	269,911	0	0	For
BAILLIE GIFFORD FUNDS	210,635	0	0	For
Jackson National	169,011	0	0	For
John Hancock	137,899	0	0	For
YCG Funds	31,022	0	0	For
Goldman Sachs	21,800	0	0	For
BBH Trust	14,948	0	0	For
GREEN CENTURY FUNDS	0	0	10,812	Abstain
Manning & Napier	8,006	0	0	For
Harbor ETF Trust	0	6,668	0	Against
CARILLON SERIES TRUST	5,558	0	0	For
UNIFIED SERIES TRUST	4,177	0	0	For
PFM Multi-Manager Series Trust	3,910	0	0	For
SATURNA INVESTMENT TRUST	3,400	0	0	For
Brighthouse	3,338	0	0	For
American Beacon Institutional Funds Trust	3,140	0	0	For
LKCM Funds	2,913	0	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	0	For
Listed Funds Trust	2,580	0	0	For
Pacer Funds Trust	2,064	0	0	For
GPS Funds I	1,643	0	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

32. APPROVAL OF THE REMUNERATION POLICY FOR DIRECTORS

COMPENSATIONCORPORATE GOVERNANCE

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,831,864 for, 10,812 against).

FOR: 4,831,864 (99.8%)AGAINST: 10,812 (0.2%)

Largest asset managers voting on “APPROVAL OF THE REMUNERATION POLICY FOR DIRECTORS” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

33. APPROVAL OF THE REMUNERATION POLICY FOR THE CHAIRMAN OF THE BOARD OF DIRECTORS

COMPENSATIONCORPORATE GOVERNANCE

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,831,864 for, 10,812 against).

FOR: 4,831,864 (99.8%)AGAINST: 10,812 (0.2%)

Largest asset managers voting on “APPROVAL OF THE REMUNERATION POLICY FOR THE CHAIRMAN OF THE BOARD OF DIRECTORS” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

34. APPROVAL OF THE REMUNERATION POLICY FOR THE CHIEF EXECUTIVE OFFICER

COMPENSATIONCORPORATE GOVERNANCE

99.4% fund support · no official result

FOR 99.4%

The 32 asset managers below cast 99.4% of the shares they voted on this item FOR (4,815,143 for, 27,533 against).

FOR: 4,815,143 (99.4%)AGAINST: 27,533 (0.6%)

Largest asset managers voting on “APPROVAL OF THE REMUNERATION POLICY FOR THE CHIEF EXECUTIVE OFFICER” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	515,859	214	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	156,650	12,361	For
John Hancock	129,609	8,290	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	10,812	0	For
Manning & Napier	8,006	0	For
Harbor ETF Trust	0	6,668	Against
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

35. AUTHORIZATION FOR THE COMPANY TO REPURCHASE ITS OWN SHARES

CAPITAL STRUCTURE

100% fund support · no official result

FOR 100%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (4,813,871 for, 0 against).

FOR: 4,813,871 (100.0%)

Largest asset managers voting on “AUTHORIZATION FOR THE COMPANY TO REPURCHASE ITS OWN SHARES” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
YCG Funds	2,217	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

36. AUTHORIZATION GRANTED TO THE BOARD OF DIRECTORS TO CARRY OUT FREE GRANTS OF EXISTING SHARES AND/OR SHARES TO BE ISSUED, WITH CANCELLATION OF SHAREHOLDERS' PREFERENTIAL SUBSCRIPTION RIGHTS, TO EMPLOYEES AND DIRECTORS AND CORPORATE OFFICERS

COMPENSATION

Combines 2 wordings of this item as funds reported it.

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,803,059 for, 10,812 against).

FOR: 4,803,059 (99.8%)AGAINST: 10,812 (0.2%)

Largest asset managers voting on “AUTHORIZATION GRANTED TO THE BOARD OF DIRECTORS TO CARRY OUT FREE GRANTS OF EXISTING SHARES AND/OR SHARES TO B” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
YCG Funds	2,217	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

37. AUTHORIZATION GRANTED TO THE BOARD OF DIRECTORS TO REDUCE THE SHARE CAPITAL BY CANCELLING THE SHARES ACQUIRED BY THE COMPANY UNDER ARTICLE L. 22-10-62 OF THE FRENCH COMMERCIAL CODE

CAPITAL STRUCTURE

99.9% fund support · no official result

FOR 99.9%

The 32 asset managers below cast 99.9% of the shares they voted on this item FOR (4,813,000 for, 871 against).

FOR: 4,813,000 (100.0%)AGAINST: 871 (0.0%)

Largest asset managers voting on “AUTHORIZATION GRANTED TO THE BOARD OF DIRECTORS TO REDUCE THE SHARE CAPITAL BY CANCELLING THE SHARES ACQUIRED ” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
YCG Funds	2,217	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

38. DELEGATION OF AUTHORITY GRANTED TO THE BOARD OF DIRECTORS FOR THE PURPOSE OF CARRYING OUT A CAPITAL INCREASE RESERVED FOR CATEGORIES OF BENEFICIARIES CONSISTING OF EMPLOYEES OF FOREIGN SUBSIDIARIES, WITH CANCELLATION OF PREFERENTIAL SUBSCRIPTION RIGHTS, WITHIN THE SCOPE OF AN EMPLOYEE SHARE OWNERSHIP PLAN

CAPITAL STRUCTURE

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,831,864 for, 10,812 against).

FOR: 4,831,864 (99.8%)AGAINST: 10,812 (0.2%)

Largest asset managers voting on “DELEGATION OF AUTHORITY GRANTED TO THE BOARD OF DIRECTORS FOR THE PURPOSE OF CARRYING OUT A CAPITAL INCREASE R” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

39. DELEGATION OF AUTHORITY GRANTED TO THE BOARD OF DIRECTORS FOR THE PURPOSE OF CARRYING OUT A CAPITAL INCREASE RESERVED FOR EMPLOYEES WITH CANCELLATION OF SHAREHOLDERS' PREFERENTIAL SUBSCRIPTION RIGHTS

CAPITAL STRUCTURE

Combines 2 wordings of this item as funds reported it.

99.7% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.7% of the shares they voted on this item FOR (4,831,864 for, 10,812 against).

FOR: 4,831,864 (99.8%)AGAINST: 10,812 (0.2%)

Largest asset managers voting on “DELEGATION OF AUTHORITY GRANTED TO THE BOARD OF DIRECTORS FOR THE PURPOSE OF CARRYING OUT A CAPITAL INCREASE R” at L'OREAL SA, 2023-2024
Asset manager	For	Against	Vote
Vanguard	1,694,724	0	For
Investment Managers Series Trust	893,868	0	For
HARDING LOEVNER FUNDS INC	816,295	0	For
HARBOR FUNDS	516,073	0	For
Bridge Builder Trust	269,911	0	For
BAILLIE GIFFORD FUNDS	210,635	0	For
Jackson National	169,011	0	For
John Hancock	137,899	0	For
YCG Funds	31,022	0	For
Goldman Sachs	21,800	0	For
BBH Trust	14,948	0	For
GREEN CENTURY FUNDS	0	10,812	Against
Manning & Napier	8,006	0	For
Harbor ETF Trust	6,668	0	For
CARILLON SERIES TRUST	5,558	0	For
UNIFIED SERIES TRUST	4,177	0	For
PFM Multi-Manager Series Trust	3,910	0	For
SATURNA INVESTMENT TRUST	3,400	0	For
Brighthouse	3,338	0	For
American Beacon Institutional Funds Trust	3,140	0	For
LKCM Funds	2,913	0	For
WILSHIRE MUTUAL FUNDS INC	2,703	0	For
Listed Funds Trust	2,580	0	For
Pacer Funds Trust	2,064	0	For
GPS Funds I	1,643	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

40. POWERS FOR FORMALITIES

OTHER

100% fund support · no official result

FOR 100%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (4,842,676 for, 0 against).

FOR: 4,842,676 (100.0%)

Largest asset managers voting on “POWERS FOR FORMALITIES” at L'OREAL SA, 2023-2024
Asset manager	For	Vote
Vanguard	1,694,724	For
Investment Managers Series Trust	893,868	For
HARDING LOEVNER FUNDS INC	816,295	For
HARBOR FUNDS	516,073	For
Bridge Builder Trust	269,911	For
BAILLIE GIFFORD FUNDS	210,635	For
Jackson National	169,011	For
John Hancock	137,899	For
YCG Funds	31,022	For
Goldman Sachs	21,800	For
BBH Trust	14,948	For
GREEN CENTURY FUNDS	10,812	For
Manning & Napier	8,006	For
Harbor ETF Trust	6,668	For
CARILLON SERIES TRUST	5,558	For
UNIFIED SERIES TRUST	4,177	For
PFM Multi-Manager Series Trust	3,910	For
SATURNA INVESTMENT TRUST	3,400	For
Brighthouse	3,338	For
American Beacon Institutional Funds Trust	3,140	For
LKCM Funds	2,913	For
WILSHIRE MUTUAL FUNDS INC	2,703	For
Listed Funds Trust	2,580	For
Pacer Funds Trust	2,064	For
GPS Funds I	1,643	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

Showing the 40 reported items with the widest manager coverage, of 72 in total. View every item.

Largest L'OREAL SA shareholders voting in 2023-2024

Ranked by the number of L'OREAL SA shares each manager voted on the most widely held ballot item of the 2023-2024 meeting.

Top L'OREAL SA shareholders by shares voted, 2023-2024
#	Asset manager	Shares voted
1	SCM Trust	2,340,000,000
2	Vanguard	6,210,930
3	BlackRock	4,347,216
4	Fidelity	4,302,601
5	Walter Scott & Partners Ltd	2,271,252
6	Capital Group	1,849,993
7	Goldman Sachs	977,014
8	TIAA	970,290
9	JPMorgan	814,594
10	Invesco	724,571

Shown as share counts, not percentages: no shares-outstanding figure has been matched to L'OREAL SA for the 2023-2024 season, so there is no denominator to divide by.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At L'OREAL SA's shareholder meeting held 2024-04-23, in the 2023-2024 proxy season, 166 asset managers reported how they voted in their SEC Form N-PX filings, covering 11,970 separate fund positions. Their filings are grouped here into 72 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. L'OREAL SA's own Form 8-K tally for this meeting is published below, but no row in it could be matched to the most widely held item, so this page states no certified outcome for that item. On that item — Approve Compensation of Nicolas Hieronimus, CEO — the reporting funds cast 100% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

L'OREAL SA proxy season coverage: 2023-2024 (this page) · 2024-2025 · 2025-2026.