Good morning and welcome to the Coty Annual Meeting of Stockholders audio webcast. All participants will be in a listen-only mode. Please note that this event is being recorded, and a replay will be available shortly after the meeting concludes. I would now like to turn the conference over to your host, Ms. Kristin Blazewicz, Chief Legal Officer and Secretary of Coty. Please go ahead. Good morning, ladies and gentlemen. My name is Kristin Blazewicz, and I am the Chief Legal Officer and Secretary of Coty. I will be chairing today's meeting. It is my pleasure to welcome you to Coty's 2025 Annual Stockholders Meeting. We are hosting this meeting virtually, which is a cost-efficient way for us to reach a greater number of our stockholders. We have designed this live audio webcast to provide the same rights to participate as stockholders would have at an in-person meeting, including the opportunity to submit questions. There will be a general Q&A session held later in the meeting after we adjourn the business portion of the meeting. It is now 8:32 A.M. Eastern Time, and I am officially calling this meeting to order. First, it is my pleasure to introduce the current members of the Coty Board of Directors and to thank them for their service to our company. Peter Harf, our Chairman of the Board. Beatrice Bellini, who also currently serves as Chair of our Remuneration and Nomination Committee and our Lead Independent Director. Yahoom Cruz. Olivier Gadet. Anna Makanju. Sue Nabi, who also serves as our Chief Executive Officer. Isabelle Perez. Lubomir Rache. Robert Singer, who also currently serves as Chair of our Audit and Finance Committee. Gordon Von Bretten, who was recently appointed to also serve as President of our Consumer Beauty Division. At this time, we wish to thank Lubomir Rache and Olivier Gadet for their contributions during their tenure, as they will not be standing for reelection. In addition, we are pleased to introduce Frank Engelin as a nominee. Coty has appointed a third party to act as Inspector of Elections. Christopher J. Woods is with us today and has taken the oath of Inspector of Elections. As noted in the notice and proxy statement sent to you, the record date for voting at this meeting was the close of business on September 12, 2025. Notice of the meeting was provided to all stockholders of record on or about September 26, 2025. Broadridge Financial Solutions Inc. has delivered an affidavit of mailing to show that notice of this meeting was given. All documents concerning the notice of the meeting will be filed with the records of the meeting. Our stockholder list shows that holders of 873,857,477 shares of Class A Common Stock of the company are entitled to vote at this meeting. In addition, the holders of 146,057 shares of Series B Preferred Stock of the company. Are entitled to 163.1570 votes per share for a total of 23,830,179 votes. We are informed by the Inspector of Elections that there are represented by proxies 698,231,422 shares of Class A Common Stock, or approximately 79.88% of all shares of Class A Common Stock entitled to vote at this meeting, and 146,057 shares of Series B Preferred Stock, or 100% of all shares of Series B Preferred Stock, and together 80.41% of all 721,915,544 votes entitled to be voted at the meeting. Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, the quorum is present for purposes of transacting business. We will now present and vote on the three proposals listed on the agenda, which are the three matters properly brought before today's meeting in accordance with our bylaws. For stockholders who wish to vote at the meeting, you may vote by clicking the Vote Here button. For stockholders who have already voted, no additional action is required with respect to the matters being voted upon. The polls are now open but will be closed as soon as all the proposals are presented and related questions asked. An opportunity for questions on the proposals will be available after all the proposals have been presented. Stockholders who wish to ask a question may submit a question in writing at any time during the meeting as directed on the annual meeting website. Only stockholders will be permitted to ask questions, and the stockholder must have their control number to submit a question on the website. Stockholder questions and comments not relating to an item of business properly brought before the meeting or other matters relating to the company may be raised during the general question and answer session. Our rules of procedure found on the annual meeting website through which you join the meeting will apply to the question and answer sessions. Proposal number one is the election of directors. There are nine nominees up for election. Directors elected today will hold office until the 2026 Annual Stockholders Meeting or until their successors have been duly elected and qualified. The nine nominees are Beatrice Bellini, Yahoom Cruz, Frank Engelin, Peter Harf, Anna Makanju, Sue Nabi, Isabelle Perez, Robert Singer, and Gordon Von Bretten. Additional information about the qualifications of each director nominee may be found in the Proposal Number One election of directors section of the proxy statement under the heading Director Nominees. The board unanimously recommends that you vote for the election of each nominee for director. Proposal number two is a non-binding advisory vote to approve the compensation paid to our named executive officers, as disclosed in the proxy statement. This proposal, which is commonly referred to as a say-on-pay proposal, is required by the Dodd-Frank Act. Information regarding this proposal is set forth in the proxy statement under the heading Proposal Number Two: Approval of Advisory Resolution on Named Executive Officer Compensation Say-on-Pay. The board unanimously recommends a vote for this proposal. Proposal number three is a vote on the proposal to ratify the selection by our Audit and Finance Committee of Deloitte & Touche, LLP as Coty's independent auditor to audit our consolidated financial statements for the fiscal year ending June 30, 2026. Information regarding this proposal is set forth in the proxy statement under the heading Proposal Number Three: Ratification of Appointment of Deloitte & Touche, LLP as our independent registered public accounting firm. The board unanimously recommends that you vote for this proposal. Deloitte representatives are available to answer questions during the question-and-answer session near the end of the meeting. We will now take a short pause to allow you to submit your questions related to the proposals. We will now continue. If you still have a question, please submit it, and we will be able to address your question during the Q&A session at the end of the meeting. Management, as the proxy holder, has delivered its ballot to the Inspector of Elections to vote as directed by the stockholders. There being no other matters to come before the meeting, voting is now completed and the polls for voting are now closed. The Inspector of Election has confirmed that the ballots have been counted and validated, and we have the preliminary vote totals for the three proposals that appeared in the proxy statement. On Proposal Number One relating to the election of directors, preliminary vote counts indicate that all nine nominees for the election as directors were elected. On Proposal Number Two, preliminary vote counts indicate that the proposal concerning a non-binding advisory vote on our named executive officer compensation was approved. On Proposal Number Three, preliminary vote counts indicate that the ratification of Deloitte & Touche as our independent auditor was approved. We will publicly report the final voting results for all items of business once all votes have been tabulated and verified by the Inspector of Elections. That concludes the scheduled official business for today's meeting. In accordance with the company's bylaws, I hereby adjourn the business portion of the meeting. We will now take a short pause for you to submit your questions. Having concluded the Q&A session, today's meeting is adjourned. On behalf of the Board of Directors and the Management Team, I would like to thank you for attending the 2025 Coty Annual Stockholders Meeting. Thank you. Your conference has now concluded. Thank you for attending today's presentation. You may now disconnect.