EssilorLuxottica : 2021 Universal Registration Document

Universal

Registration

Document

2021

Contents

1	Presentation		4
of EssilorLuxottica	7
	1.1	EssilorLuxottica Group Profile	8
	1.2	History	16
	1.3	The eyecare and eyewear industry	19
	1.4	Meeting global demand for eyecare
		and eyewear	20
	1.5	Simplified organizational chart	48
	1.6	Risk factors			49
	AFR

1.7 Main characteristics of the risk management and internal control systems implemented

by the Company for the preparation and processing of accounting

			and financial information	AFR		75
2		EssilorLuxottica		5
	in 2021	AFR		79
	2.1	Significant events of the year	81
	2.2	Consolidated revenue	85
	2.3	Statement of profit or loss and
			Alternative Performance Measures	91

2.4 Statement of financial position, net debt, cash flows and other non-GAAP

			measures	98
	2.5	Acquisitions and partnerships	101
	2.6	Investments made in 2021
			and planned for 2022	101
	2.7	Subsequent events	102
	2.8	Recent trends and outlook	103
3		Report on Corporate
	Governance	105	6
	3.1	Information on Corporate
			Governance				108
			AFR
	3.2	Special procedures for shareholder
			participation in Shareholders'
			Meetings			127
			AFR
	3.3	Compensation of corporate officers*	131

3.4 Appendix: Summary table of recommendations

of the AFEP-MEDEF Code that have

	not been applied	171
3.5	Appendix: List of offices		7
	and responsibilities	173
3.6	Statutory Auditors' report on
	related-party agreements	189

Financial
statements	191
4.1	Consolidated Financial Statements			193
AFR
4.2	Statutory Auditors' report on the
	consolidated financial statements			265
	AFR
4.3	Unaudited Pro Forma Consolidated
	Financial Information	269
4.4	Statutory Auditors' report on the
	pro forma financial information	275
4.5	Financial statements
	of EssilorLuxottica	AFR						276
4.6	Other information related to the
	financial statements of EssilorLuxottica	297
4.7	Statutory Auditors' report
	on the financial statements	AFR		299
Social, environmental
and societal information			305
AFR
5.1	EssilorLuxottica's approach
	to Sustainable Development	306

5.2 Eyes on the Planet, EssilorLuxottica's sustainability

	program	316
5.3	Next steps for EssilorLuxottica's
	sustainability program	344
5.4	Methodology note and
	correspondence tables	345

5.5 Report by one of the Statutory Auditors, appointed as an independent third party, on the consolidated non-financial

	information statement	348
Information about the Company,
its share capital and stock ownership	353
6.1	The Company	355
6.2	Share capital									358
AFR
6.3	Shareholding							362
AFR
6.4	Employee shareholding			364
AFR
6.5	Dividend distribution	370
6.6	Key stock market data	371
6.7	Historical data	373
Additional information on the
Universal Registration Document	385
7.1	Person responsible			387
AFR
7.2	Statutory Auditors	388
7.3	Publicly available documents	388
7.4	Cross-reference tables	389

The Universal Registration Documents, Registration Documents and releases cited as well as this Universal Registration Document are available at: www.essilorluxottica.com @ Investors / Pubblications and Downloads

• Includes the Report on the compensation policy of Executive Corporate Officers subject to the approval of shareholders at the Shareholders' Meeting on May 25, 2022.

The information from the Annual Financial Report (AFR) is clearly identified in the table of contents by the symbol AFR

2021 Universal

Registration

Document

Including

the Annual Financial

Report

This document is a non-certified translation into English of the Universal Registration Document (including the Annual Financial Report) issued in French, prepared in ESEF format (European Single Electronic Format) and filed on March 25, 2022 with the Autorité des Marchés Financiers (AMF), as competent authority under Regulation (EU) 2017/1129, without prior approval pursuant to article 9 of said Regulation.

The Universal Registration Document may be used for the purposes of an offer to the public of securities or the admission of securities to trading on a regulated market if completed by a securities note and, if applicable, a summary and any amendments to the Universal Registration Document. The whole is approved by the AMF in accordance with Regulation (EU) 2017/1129.

2021

Message from the Chairman

Leonardo Del Vecchio

Chairman

Dear Shareholders,

Welcome to a new era in our Company's history. While the past few years have been difficult, the dream of creating EssilorLuxottica gave us all something to work towards to, together. The extraordinary transformation of our Company is an impressive story spanning five years and is unlike anything the industry has ever seen.

In January 2017, we shared our vision to combine a global leader in iconic branded frames with a global leader in ophthalmic lenses. Our combination journey was not an overnight shift. We needed to reshape and simplify the new company in order to meet the growing needs of the industry. We appointed talented managers in key roles, we became more agile and more efficient by centralizing the organization, and, we fast-tracked decisions so as not to miss any opportunities.

From there, we achieved a new milestone, welcoming GrandVision into our family this year. Three leaders who share a commitment to bringing the best eyewear and eyecare to people everywhere now make up one single champion. Today, we are ready to fulfill our promise to grow the industry by creating new categories and entering new markets.

• 2021 Universal Registration Document EssilorLuxottica

From reimagining smart glasses to confronting myopia in innovative ways, we will create value for all our stakeholders and we will do it in a sustainable way.

Whether you have been with us from the very beginning or became a shareholder more recently, you have witnessed what EssilorLuxottica is capable of. Even in the face of a challenging 2021, we performed remarkably well without compromising our investment plans or our strategy.

I would like to thank our Board of Directors and our steadfast leadership, helmed by CEO Francesco Milleri and Deputy CEO Paul du Saillant, who have been instrumental in leading the way. They, along with our senior managers around the world, took great care of our people, while never losing sight of what makes our Company one-of-a-kind. Our customers and partners can be proud to work with these leaders and with all of our passionate employees.

2022 will be another trailblazing year. We have achieved great things and have many wins to celebrate, but there is always another mountain to climb. However, at EssilorLuxottica, we remain bold and purposeful, the only way to be on this journey.

Thank you for your ongoing support.

2021 Universal Registration Document EssilorLuxottica

3