15 OUR COMMITMENT TO SOCIAL IMPACT & SUSTAINABILITY MANAGING FOR THE LONG TERM We manage our business for the long term. Family ownership allows The Estée Lauder Companies to be guided by the principle of patient capital. Our Company’s long-term, strategic approach helps set our direction by regularly looking out 10 years into the future to inform our continuous transformation— in order to best position us for continued growth. Social impact and sustainability forms one of the Company’s key strategic pillars, as guided by our values. Our three-year Corporate Strategy reaffirms our commitment to achieving our publicly stated goals and amplifying our ESG impact. We incorporate sustainable practices, methodologies, and design into our brands, regions, functions, and channels. For example, by integrating sustainable practices across the product life cycle, we can drive environmental performance and add value for our brands. One example is the creation of sustainability stage gates in our new product launch process in fiscal 2021. With this approach, we plan to efficiently weave sustainability into the innovation process across product development, package development, marketing, and brand leadership, underscoring our commitment to embed sustainability across our business. We take a similar holistic approach to embedding equity and social impact across our business. During fiscal 2021, we elevated our investment in, awareness, and attention to racial and social equity and gender equality by establishing the Equity and Engagement Center of Excellence. Read more on page 33. We believe that effectively managing our social impact and sustainability work will be an important part of our future success. These efforts are led by our Executive Chairman and our President and Chief Executive Officer (CEO) and overseen by the Board of Directors, particularly the Nominating and ESG Committee. Senior leaders from Finance; Global Corporate Citizenship and Sustainability (GCCS); Human Resources; Inclusion, Diversity, and Equity (ID&E); Legal; Research & Development; and Supply Chain, as well as representatives across brands, regions, channels, and functions, drive our social impact and sustainability strategic initiatives and progress toward goals and commitments. Our GCCS function is responsible for managing our social impact and sustainability initiatives. The function is led by the Senior Vice President (SVP) of GCCS, who reports to our Executive Chairman and our President and CEO. The SVP directs a dedicated team that leads corporate-wide sustainability strategy; social impact efforts; and strategic planning and communications around social impact and sustainability, including supporting brand-and region-led sustainability strategies. DRIVING INTEGRATION ACROSS THE BUSINESS Our brands and regions play a vital role in integrating and embedding social impact and sustainability across our business. Each of the brands in our well-diversified portfolio has embraced our commitment to be Beauty Inspired, Values Driven by developing its own unique social impact and sustainability strategy. Working hand in hand with the corporate team, our brands drive awareness with consumers and contribute to our corporate social impact and sustainability goals. Our regional teams support our ongoing commitment to social impact and sustainability by incorporating global best practices and translating enterprise-level targets and initiatives for local impact. Our regional organizations continue to invest in new resources to drive social impact and sustainability efforts in their markets, closely collaborating with our global team. Our incredible employees are at the heart of these efforts. Their dedication and passion underscore everything we do and help us to maintain the momentum needed to deliver positive impact.