Page 1

ESTEE LAUDER COMPANIES 767 Fifth Avenue New York , NY 10153 THE ESTÉE LAUDER COMPANIES REPORTS FISCAL 2021 THIRD QUARTER RESULTS News Contact : Investors : Rainey Mancini rmancini@estee.com Media : Jill Marvin jimarvin@estee.com Net Sales Increased 16 % and Diluted EPS Improved to $ 1.24 from a Loss of $ .02 In Constant Currency , Net Sales Grew 13 % and Adjusted Diluted EPS Increased 88 % Net Sales Grew 9 % Fiscal Year - to - Date Compared to Fiscal 2019 New York , May 3 , 2021 - The Estée Lauder Companies Inc. ( NYSE : EL ) today reported net sales of $ 3.86 billion for its third quarter ended March 31 , 2021 , an increase of 16 % on a reported basis , and 13 % in constant currency , from $ 3.35 billion in the prior - year period . Net sales grew in every region and in most product categories reflecting the recovery in several areas compared to the prior year where brick - and - mortar began to shut down as COVID - 19 spread globally . The Company reported net earnings of $ 456 million , compared with a net loss of $ ( 6 ) million in the prior - year period . Diluted net earnings per common share was $ 1.24 , compared with a loss of $ ( . 02 ) reported in the prior - year period . Excluding the benefit of currency translation , adjusted diluted earnings per common share , which excludes items detailed on page 3 , increased 88 % . Fabrizio Freda , President and Chief Executive Officer said , " We exceeded our sales and earnings expectations , even as several markets experienced increasing pressure from COVID - 19 throughout the quarter . Our growth engines of Skin Care and Fragrance were incredibly powerful . Sales rose in every region , led by double - digit growth in Asia / Pacific , where many markets contributed and sales growth in mainland China accelerated . Online thrived as a growth engine , with sales having increased strong double - digits around the world , and Travel Retail excelled . Estée Lauder , La Mer , Jo Malone London , Clinique , and Tom Ford Beauty led the robust performance of many brands in our portfolio . Our fiscal year - to - date sales and adjusted operating margin exceed that of the same period in fiscal 2019 , as we continue to successfully navigate the challenges of the pandemic . With strong cash flow generation , we resumed share repurchases in the third quarter . We are thrilled to have agreed to increase our ownership in DECIEM , becoming majority owners with a path to full ownership in three years . DECIEM's soaring brand The Ordinary and new brand incubation capability further enhance our superior multiple engines of growth strategy . " ESTEE LAUDER COMPANIES Page 1 of 18