Letter From Nancy Mahon, Chief Sustainability Officer

Dear Stakeholders,

In fiscal 2024, our talented teams across brands, regions, and functions collaborated to deliver exceptional products while continuing our journey to embed social impact and sustainability into every aspect of our business. I am proud of the meaningful progress we have made and am pleased to share The Estée Lauder Companies’ Fiscal 2024 Social Impact and Sustainability Report with you.

Our sustainability goals are a key part of our business strategy. In fiscal 2024, we achieved several of these goals ahead of schedule, including surpassing our water withdrawal targets, publishing our first corporate ingredient glossary, and reaching our palm oil objectives before our 2025 deadline. For the fifth consecutive year, we achieved carbon neutrality across our Scope 1 and Scope 2 greenhouse gas emissions and sourced 100% renewable electricity globally for our direct operations. Lastly, we continue to address industry-wide challenges, like emissions and packaging, through innovative and collaborative tools to move our progress forward.

Within our own walls, we continue to build a workplace that prioritizes well-being, mentorship, and development opportunities for our employees. We also continue to increase diversity across our workforce, products, and marketing efforts, to attract and retain the best talent and deliver exceptional products for our consumers.

As we look ahead, I am excited about the opportunities to build on this momentum. Together, we will continue to lead with purpose, striving to position the company for long-term, sustainable growth.

Thank you for your commitment to this important work.

Nancy Mahon
Chief Sustainability Officer, The Estée Lauder Companies Inc.