Letter From William P. Lauder & Fabrizio Freda

Dear Stakeholders,

At The Estée Lauder Companies, our purpose is to put the power of possibility in the palm of every hand, a guiding principle that has shaped our organization for more than 75 years. This commitment continues to inspire new opportunities for both our company and the global communities we serve.

As a global company operating in a dynamic landscape, our commitment to long-term, sustainable growth demands innovation and persistence. Our environmental and social efforts are integral to this journey—fostering innovation, value creation, operational efficiency, and engagement with both current and future talent. In fiscal 2024, we continued to deepen these efforts, taking important steps to align our practices with our goals and seeking opportunities to further embed these principles into how we do business.

As we endeavor to build a stronger and more agile company, we remain guided by the values that have shaped us over the years— generosity of spirit, innovation, willingness to challenge the status quo, and commitment to acting responsibly. Our social impact and sustainability efforts embody these values and are driven by the creativity and resilience of our talented teams around the world. Alongside the strength of our employees, brand portfolio, and product assortment, we are confident in our ability to continue shaping the future of beauty—one that celebrates every unique, beautiful future.