Yes, your registered shares can be disposed of at any time, just like bearer shares. You retain complete freedom to the manage your shares.

Registering your shares has no fiscal impact. The tax regime for registered shares is the same as for bearer shares. If you hold L’Oréal shares in a PEA (share savings plan) and wish to benefit from the advantages of registered shares, then managed registered shares are for you.

Some financial institutions may charge you for transferring shares to directly registered form and we recommend that you ask your bank for information. We remind you that L’Oréal will reimburse you any transfer costs for directly registered shares up to a maximum of 50 euros.

You simply have to send your request for reimbursement, together with proof of your transfer costs, and full bank details, to the following address:
Service Actionnaires de L’Oréal
BNP Paribas Securities Services
C.T.S. Emetteurs
Service Mouvement Titres
Grands Moulins de Pantin
9 rue du débarcadère
93761 PANTIN CEDEX
FRANCE

L'Oréal has negociated very competitive brokerage costs for you.

- Preferential brokerage rate of 0.15% excluding tax, with a minimum of 6.10 euros excluding tax.

- Bank commission of 7.62 euros excluding tax.

Times vary depending on the financial institution. Do not forget that, to qualify for the preferential dividend as of 2020, your shares must be registered in direct or managed form no later than December 31, 2017. To make sure that this is the case, we recommend that you transmit your order for registration by December 10, 2017 at the latest.

The introduction of the preferential dividend has made it necessary to create specific ISIN codes. These codes make it possible to determine each year whether the shares concerned will give the right to an ordinary dividend or a preferential dividend.

Trading Code:

• FR0000120321
  The L’Oréal share is listed and traded under ISIN code FR0000120321.
  L’Oréal shares which have been registered during the current year and which will benefit from the loyalty bonus after 2 full calendar years are identified by this code.

Bonus Codes:

• FR0011149590
  L’Oréal shares which were registered prior to December 31, 2011 and which already benefit from the loyalty bonus are identified by this code.

• FR0011356229
  L’Oréal shares which were registered in 2012 and which will benefit from the loyalty bonus in 2015 are identified by this code.

• FR0011636133
  L’Oréal shares which were registered in 2013 and which will benefit from the loyalty bonus in 2016 are identified by this code.

• FR0012332245
  L’Oréal shares which were registered in 2014 and which will benefit from the preferential dividend in 2017 are identified by this code.

Only the FR0000120321 is a trading code.
If you want to sell shares with the bonus codes FR0011149590, FR0011356229, FR0011636133, FR0012332245, your financial institution will deal with modifying this code in order to execute your order.