EssilorLuxottica : 2023 Sustainability Report

Our sustainability strategy is strongly intertwined with our Mission to help people 'see more and be more', notably through social impact activities delivered by the OneSight EssilorLuxottica Foundation. As the largest foundation in the world driving inclusive vision care access, last year it radically accelerated actions to equip 14 million people in underserved communities with eyeglasses, establish more than 4,900 rural optical points and vision centers, and provide permanent vision care access for 177 million rural community members globally.

One of the most significant accomplishments we achieved in 2023 is reaching carbon neutrality (Scopes 1 & 2 emissions) for our direct activities in Europe, following targets met in Italy and France at the end of 2021. EssilorLuxottica is setting the stage to become carbon neutral (Scopes 1 & 2) globally by 2025 by continuing to improve energy efficiency across facilities as well as increase the self-production and use of renewable energy, along with the corporate Power Purchase Agreement (PPA) we signed for the sourcing of wind electricity in Italy. In addition, our commitment to setting new carbon emission reduction targets

in accordance with the Science-Based Targets initiative (SBTi) has marked a new step in our Group approach to sustainability, focusing not only on direct impact but also on indirect impact.

Our climate commitment is closely complemented by our circularity ambitions, leveraging sustainable innovation in our processes, products and services to make a measurable difference for our industry, the environment and communities where we operate. In addition, our retail network is becoming central in encouraging consumers to extend product life through circular services like in-store repairs, subscription models and the possibility of bringing used eyewear back to be recycled or repurposed. To advance in-store sustainability, in December we embarked on an endeavor to advance our retail network with the circular use of materials and waste management to build less and better, aiming to have 400 WELL-certified stores in the next three years.

All efforts and achievements in executing our Eyes on the Planet program are possible thanks to our talented employee community of more than 190,000.

Through our diversified global presence, EssilorLuxottica inherently embraces all backgrounds, genders, experiences, perspectives, and cultures that each of us brings, while sharing the same values makes us unique. In 2023, a series of global and local events raised internal awareness, promoted inclusivity and celebrated how our diversity makes us stronger. Our Leonardo platform is playing a key role in further building our inclusive learning culture inside and outside our Company. Since its launch in 2021, Leonardo has earned a strong reputation as the educational point of reference across the eyewear and eyecare industry by leading education on topics such as vision care, practice management, people development, compliance and more.

The successes we celebrated in the past year are paving the way for a future full of opportunities. Sustainability is a long-term responsibility that belongs to all of us, and we want to thank you for being part of this exciting journey.

Introduction

To help people around the world 'see more and be more', EssilorLuxottica's Mission drives its strategy and activities. It is at the heart of the Company's values and principles and informs its integrated approach to sustainable development.

Doing good for its employees, customers, consumers, and communities while doing good for the planet is at the core of its Company-wide sustainability program called 'Eyes on the Planet' launched in July 2021. Its commitments towards carbon

neutrality, circularity, world sight, inclusion, and ethics reaffirm how its Mission, sustainability, and business strategy are strongly intertwined at EssilorLuxottica. From fighting climate change, managing and reducing water use at manufacturing sites, improving occupational health and safety, and ensuring equal opportunities to engaging local communities in outreach initiatives, its Eyes on the Planet program consistently supports its Mission (see Section 2.3).

Eyes on the Planet Program

with 5 strategic pillars

Carbon Neutral in Europe

Through its sustainability strategy and the philanthropic initiatives led by the OneSight EssilorLuxottica Foundation, the Company contributes to 13(1) of the 17 UN Sustainable Development Goals (SDGs) that form the 2030 Agenda. In addition, the UN General Assembly resolution(2) on vision further supports EssilorLuxottica's own ambition to eliminate uncorrected poor vision in a generation.

This Chapter represents the Group's non-financial statement pursuant to article L. 225-102-1 II of the French Commercial

Code. Furthermore, the 2023 non-financial performance is described following the five pillars of the Company's sustainability program 'Eyes on the Planet' and in accordance with other major sustainability-related regulations, such as Duty of Care (see Section 2.5) and EU Taxonomy for sustainable activities (see Section 3). A methodology note including cross- reference tables with GRI Standards, TCFD guidelines and EU Taxonomy is available at the end of this chapter (see Section 5).

Section 1.4 of this Universal Registration Document provides detailed information on the Group's strategy, business model, key figures and geographical presence. Meanwhile this section provides an overview of how EssilorLuxottica's approach to sustainable development extends to every aspect of its business model and is strongly intertwined with its Mission to help people 'see more and be more'.

The Company's vertically integrated business model covers every single step of the value creation process. It draws on the complementary expertise of two industry pioneers, one in advanced lens technologies and the other in the craftsmanship of iconic eyewear to set new industry standards for vision care and the consumer experience around it. The acquisition of GrandVision was also a major step in the Group's strategy and its positioning in the global eyecare and eyewear sector. The Group's retail footprint increased by over 7,200 stores worldwide, reaching approximately 18,000 stores, further consolidating its presence in the European market.

Its vertically integrated business model enables EssilorLuxottica to oversee the entire value chain, with a strong focus on manufacturing excellence, service, and a geographically diversified footprint. This control of all phases - from product development to distribution - also allows it to closely oversee environmental issues, health and safety, and human rights along the value chain and, ultimately, to adopt socially responsible practices. In this context, in 2023 the Company committed to setting near-term emission reduction targets according to the Science-Based Targets initiative (SBTi), as another step forward in its long-term goal to address climate change by reducing the carbon footprint of its operations and value chain (see Section 2.1).

Product development

Lens and eyewear product manufacturing

Distribution

Operations

• Product development: Innovation and technological development are core priorities for EssilorLuxottica, to remain at the forefront in providing consumers with appropriate vision solutions to meet their needs. The Company's global R&D network is supported by leading scientific, industrial and academic communities, and is centered on four areas: bringing vision to new heights; powering style; making eyewear a gateway into new worlds; and digitizing the industry from the ground up. Sustainability and innovation go together, with the product naturally at the center of EssilorLuxottica's circular economy approach to minimize impact on the environment, covering also raw material, energy and water consumption, while enhancing product excellence and quality (Section 2.2). In this context, the Group focuses on talent management given the crucial role played by the teams involved in the different R&D projects, and on business partner relationships, for better engagement concerning ethical, human, social and environmental standards as well as to help reduce the Group's environmental footprint (e.g., purchase of raw materials with less environmental impact). Its approach to innovation is supported and strengthened by proactive intellectual property management. At the end of 2023, the Company owned approximately 13,000 patents and created over 3,500 new eyewear models. See Section 1.4.2 of this Universal Registration Document.
• Lens and eyewear product manufacturing: The Company's manufacturing capabilities, include 35 corrective and plano lens mass production facilities plus 13 eyewear mass production plants and 583 prescription laboratories and edging-mountingfacilities. These account for the majority of direct environmental impacts. This is due to products and raw materials used for production, energy and water consumption, waste production, and resulting greenhouse gas emissions. Given the concentration of environmental impact, EssilorLuxottica places emphasis on water, energy and waste, as well as on occupational health and safety measures. Actions to reduce its environmental impact include the continuous diversification of its portfolio of materials from traditional metal, plastic injections and acetate slabs to include bio-basedand recycled materials with lower environmental impact assessed via specific Life Cycle Assessments (LCA). See Section 1.4.3 of this Universal Registration Document.
• Distribution: EssilorLuxottica has a global network of 128 distribution centers for lenses, eyewear, contact lenses, instruments, equipment, AFA (apparel, footwear and accessories), marketing materials and advertising as well as store-specific furniture. Situated close to manufacturing sites, these centers coordinate the logistics flow between suppliers, production plants, prescription lens laboratories, wholesale clients, retail stores, and e-commerce customers. Most of the environmental impact of these centers comes from greenhouse gas emissions from transportation (air and road freight, etc.). The high number of employees working in the Group's distribution centers and the nature of activities performed make workplace health and safety a key area of focus. This is also in line also with the Company's commitment toward zero work-related accidents pursued through the implementation of dedicated policies and programs. EssilorLuxottica's efficient distribution network

makes it possible to maintain close contact with customers and consumers, serving their needs while maximizing the visibility of the brand portfolio.

• Professional solutions network: The Company serves third- party eyecare professionals ranging from independent opticians to optical retail banners, as well as specialty sun retailers; sport channels offering Oakley and Costa branded eyewear, apparel, footwear and accessories; department stores and duty-freeshops. EssilorLuxottica also counts among its partners third-party e-commerceplatforms and independent distributors that provide vision care in remote and rural communities in underserved regions. To this regard, the Group's inclusive business models provide vision care to underserved populations without access to conventional distribution channels (see Section 2.3). Pre- and post-saleservices, an open learning platform (Leonardo), information security and data protection, digital tools that connect the Group's operations to its customers and consumers, and digital support for eyecare professionals are key to the success of long-lasting,trust- based relationships. In 2023 the Company launched a new division focused on helping ECPs leverage modern technology to improve the eyecare experience for patients and help doctors run their practice more effectively.
• Direct to Consumer network: The Group's expertise in the Direct to Consumer business has given it a unique understanding of consumer needs and trends in key countries. With approximately 18,000 stores globally and e- commerce platforms, EssilorLuxottica serves the end consumer with a wide range of prescription frames and sunglasses, lens options and eyecare services. Engaging websites, omnichannel solutions and continuous training for store employees translates into an increase in consumer awareness around vision care as well as digitally enhanced consumer experiences and services. The Group's stores are also paying attention to energy efficiency, building less and better, circularity in the use of materials and waste management. EssilorLuxottica is working to obtain the WELL international certification for innovative energy consumption as well as the use of recycled or regenerated materials, and it is also testing possibilities to generate new materials from eyewear production waste that could be useful for its retail, office and showroom spaces.

EssilorLuxottica's sustainability efforts extend to its subsidiaries in terms of environmental footprint reduction (e.g. energy optimization) and social impact on local employees (e.g. development opportunities and mobility) and communities (e.g. access to quality eyecare). In addition, employees are encouraged to receive training on sustainability topics through a comprehensive online learning path that is being developed and delivered through the Leonardo platform.

As detailed in Section 1.4, the Company is committed to addressing critical Environmental, Social and Governance (ESG) risks in its value chain, including climate change, talent management and sustainable offering. At the same time, it responds to the world's growing vision needs with a large portfolio of innovative eyecare and eyewear products accessible to everyone, everywhere in support of its Mission (see Section 2.3).

1.2 Stakeholder Engagement

EssilorLuxottica's approach to sustainable development relies heavily on the environmental and social impact of its business activities related to various stakeholders along its value chain.

As the significance and handling of social and environmental issues differ between countries, stakeholder relationships are generally managed locally, under the responsibility of senior management of the legal entities. However, as EssilorLuxottica continues to grow, ensuring the Company has a unified presence across markets has become increasingly important. The EssilorLuxottica Code of Ethics sets forth principles that apply to all its employees, contractors, vendors and suppliers everywhere and in every circumstance. In addition, the Corporate Sustainability Communications Policy provides guiding principles for governing and coordinating the Company's external and internal communication flows regarding sustainability.

The Group aims to maintain a regular and proactive dialogue with all its stakeholders so that it can continuously respond to their needs and expectations.

Depending on the situation, interactions between EssilorLuxottica and its stakeholders serve a range of purposes including to:

• support people development via training and engagement between managers and employees thanks to continuous feedback processes and performance review; moreover,

EssilorLuxottica's Approach to Sustainable Development

Stakeholder Engagement

employees can express their concerns also via the dedicated internal reporting system EssilorLuxottica SpeakUp;

• provide a consultation process for the purpose of anticipating business developments, the market and regulations, as well as managing risks and identifying opportunities;
• involve stakeholders in strategic decisions through customer satisfaction surveys, forums, training sessions, etc.;
• inform stakeholders by providing reliable, factual data using different communication methods, including brochures, websites, annual reviews and questionnaires;
• contribute to growth via partnership projects, particularly in the fields of health and the environment, such as support for patient associations, humanitarian aid programs and partnerships with universities.

Relations and transparent communication with stakeholders are therefore key for the Company, as their needs and viewpoints fuel its strategy and operations. Stakeholders' main concerns are also documented and addressed. In addition, EssilorLuxottica communicates on its sustainability initiatives and provides regular updates throughout the year on its corporate channels, including its corporate website, social media accounts and Leonardo learning platform.

1.3 Governance of Sustainability

The development and execution of the Eyes on the Planet program is based on a robust and effective governance model.

The EssilorLuxottica Corporate Social Responsibility (CSR) Committee consists of three members, two of which are Independent Directors. It is chaired by an Independent Director. The main duty of the CSR Committee, within the remit of the Board of Directors, is to ensure that the Group effectively addresses the deployment of its Mission, which is fully integrated in its strategy. The CSR Committee also addresses the deployment of the Group's sustainability program (Eyes on the Planet framework).

As detailed in Section 3.1.2.6 of this Universal Registration Document, CSR Committee duties go beyond philanthropy, sustainable programs and compliance to address how the Company manages its economic, social and environmental impacts as well as its relationships with stakeholders.

The EssilorLuxottica Corporate Sustainability function directly reports to the Chief Executive Officer and leads efforts on environmental and social challenges while enhancing the development of its Company-wide sustainability strategy and roadmap.

The role of the Corporate Sustainability function is to involve and coordinate with other departments, functions, business units and brands in the execution and development of the Group's Eyes on the Planet sustainability program at global and local levels in a way that is consistent with EssilorLuxottica's Mission and business strategy (see Section 2). This translates into the following main responsibilities:

• ensuring effective management of environmental and social issues along the value chain;

• advancing the organization's awareness and culture on sustainability topics while supporting communication inside and outside the organization;
• ensuring that activities are directed and coordinated across the Group consistently with its sustainability program;
• sharing best practices and promoting cross-functional collaborations and taskforces;
• guaranteeing compliance with non-financial disclosure and other major sustainability related regulations;
• identifying and managing ESG (Environment, Social, Governance) risks in coordination with the Group Risk Management function;
• providing guidance and expertise on delivering the Group sustainability strategy at local or brand level as well as driving bottom-up actions for improving the Company's sustainability efforts on the ground.

The Eyes on the Planet program therefore informs the organizational structure of the Corporate Sustainability function, where each member is accountable for the development and execution of a specific pillar and/or works cross-functionally with many colleagues in different business units and regions to ensure the program, roadmap and tasks are well anchored close to the business.

As described in Section 3.3 of this Universal Registration Document, a CSR objective has been included in the 2023 Executive Corporate Officers' annual variable compensation package and is linked to the efforts pursued through the 'Eyes on the Planet' sustainability program. In addition, since 2022, a CSR objective has been also included in the annual variable compensation of more than 15,000 employees.

1.4 ESG Risk Management

Risk management is an integral part of the business and can be defined as any events or situations that could have financial, non-financial, or reputational impact, threatening the achievement of business objectives and strategies or the Company's tangible and intangible assets.

EssilorLuxottica faces an evolving landscape of environmental, social and societal related risks that can impact its profitability, growth and reputation, and could compromise the Company's overall performance. The Company is risk-averse toward events that could negatively affect the safety or well-being of its

employees, consumers, and other stakeholders or endanger the natural environment. To reach its strategic and sustainability objectives, the Group strives to anticipate and manage risks to which it is exposed in all different activity areas.

Chapter 5 focuses on sustainability topics highlighted as most important during the annual ESG risk assessment, which is fully integrated into the EssilorLuxottica Group-wide risk assessment process (see Chapter 1 of this Universal Registration Document).

As part of its commitment to mitigate environmental, social and governance risks, the Group has integrated the analysis of risks related to sustainability topics (ESG risks) into the annual risk assessment process conducted by the Risk Management function in collaboration with the Corporate Sustainability function, involving all regions, legal entities, and business units.

Compared to the risk assessment process carried out in 2022, which introduced the ESG dimension into the Group's risk taxonomy, in 2023, the Group went a step further in identifying and integrating ESG-related risks and introduced the double materiality perspective.

Double Materiality Perspective

Following the preliminary identification of the Group's ESG- related prority risks through an internal survey, interviews, workshops and expert reviews, these were then assessed with a double perspective, involving:

• Inside-out(or impact perspective): a sustainability topic is considered material from an impact perspective when it relates to the company's actual or potential material impacts on people or the environment, in the short-,medium- or long term.

• Outside-in(or financial impact): a sustainability topic is considered material from a financial perspective if it triggers or may trigger material financial effects on the company's development, including cash flows, financial position and financial performance, in the short-,medium- or long-term.

While the financial materiality is fully evaluated within the Enterprise Risk Assessment, the Group smoothly integrated the impact of materiality considerations into the process. In particular, the interviews were an opportunity to discuss with the involved internal stakeholders about the potential impacts that ESG-related risks may have on the business as well as a preliminary indication of the potential impacts the Group may have on the environment and society.

By so doing, the Group set the basis for the proper assessment, which will be conducted in due course. To this regard, the Group reserves the right to deepen the integration of double perspective during the next financial year, in line with the regulatory requirements defined within the Corporate Sustainability Reporting Directive (CSRD), which will apply to the Group as of January 1, 2024.

Climate Transition As the world goes through a low-carbon transition, the Group may encounter risks arising from the instability of supply and demand (e.g. energy), emergence of new stringent climate regulation (e.g. carbon tax), and development of competing low carbon technologies (e.g. 3D printing) or increased concern/expectations from stakeholders (e.g. new customer preference) that may lead to the inability to achieve its climate commitment or adapt its business model.

Risk may be exacerbated by the Group's inability to track the effectiveness of existing actions and consequent missed opportunities.

Moreover, delays in delivering the EssilorLuxottica climate roadmap may be caused by a lack of proper organization, expertise and resources, further impacting the Group reputation and its external perception.

In line with its 'Eyes on the Planet' program, EssilorLuxottica has developed a Carbon Neutrality roadmap that brings together representatives from various internal functions (Procurement, R&D, Supply Chain, EHS, Corporate Sustainability, etc.), and whose progress is regularly reviewed by the Chief Operating Officers of the Group.

Key actions contributing to carbon neutrality transition include:

• regular reporting of GHG emissions for Scope 1, Scope 2 and Scope 3 emissions;
• completing and regularly updating the carbon footprint assessment to evaluate the Group's overall GHG portfolio;
• optimizing its production process and equipment to continuously improve energy efficiency;
• investing in renewable energy production (e.g., solar and biomass heating systems) and maximizing the use of renewable energy where possible;
• reducing CO2e emissions of logistics activities to build a low carbon supply chain;
• supporting carbon capture or carbon reduction projects beyond the value chain to contribute to the global carbon neutrality agenda.

EssilorLuxottica is on track to achieve carbon neutrality for its direct activities (Scope 1 and Scope 2 emissions) by 2025, starting in Europe in 2023. The Group is also committed to setting near-term emissions reduction targets according to the Science-Based Targets initiative (SBTi). Various indicators have been defined to closely assess the progress of different programs (e.g. energy consumption and associated Scope 1 and Scope 2 emissions, GHG reduction of logistics initiatives).

For further details, see Section 2.1.