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ESTĒE LAUDER COMPANIES 767 Fifth Avenue New York , NY 10153 News 1 Contact : Investors : Rainey Mancini rmancini@estee.com Media : Jill Marvin jimarvin@estee.com THE ESTÉE LAUDER COMPANIES REPORTS OUTSTANDING FISCAL 2022 FIRST QUARTER RESULTS Net Sales Increased 23 % and Diluted EPS Rose 32 % to $ 1.88 Organic Net Sales¹ Grew 18 % and Adjusted Diluted EPS Increased 29 % in Constant Currency Positioned to Deliver Strong Holiday and Key Events Confirming Full Year Outlook New York , November 2 , 2021 - The Estée Lauder Companies Inc. ( NYSE : EL ) today reported net sales of $ 4.39 billion for its first quarter ended September 30 , 2021 , an increase of 23 % from $ 3.56 billion in the prior - year period . Net sales grew in every region and product category , reflecting the recovery in brick - and - mortar retail stores , primarily in western markets . Organic net sales increased 18 % . The Company reported net earnings of $ 692 million , compared with net earnings of $ 523 million in the prior - year period . Diluted net earnings per common share was $ 1.88 , compared with $ 1.42 reported in the prior - year period . Excluding restructuring and other charges and adjustments as detailed on page adjusted diluted earnings per common share increased 31 % to $ 1.89 , and rose 29 % in constant currency . Fabrizio Freda , President and Chief Executive Officer said , " We delivered excellent performance to begin fiscal 2022 , despite the increased volatility and variability globally during the quarter , by virtue of our dynamic multiple engines of growth strategy . Our growth engines increasingly diversified , as we expected . Makeup , developed markets in the West , and brick - and - mortar reignited and complemented momentum in Skin Care , Fragrance , mainland China , Travel Retail in Asia / Pacific , and global Online² . Impressively , relative to the pre - pandemic first quarter of fiscal 2020 , the overall business is much bigger and more profitable . Thirteen brands contributed double - digit organic sales growth versus the prior - year period , demonstrating the breadth of strength across our portfolio . Estée Lauder and M.A.C drove Makeup's emerging renaissance , while La Mer and Clinique delivered stand - out results in Skin Care . Fragrance soared double - digits in every region , driven by Tom Ford Beauty and Jo Malone London . Our hero products performed exceptionally well and our innovation proved , once more , to uniquely capture consumer desires . " ESTEE LAUDER COMPANIES Organic net sales represents adjusted net sales excluding non - comparable impacts of acquisitions , divestitures and brand closures as well as the impacts from currency . We believe the Non - GAAP measure of organic net sales growth provides year - over - year sales comparisons on a consistent basis . See pages 3 for reconciliations to GAAP . 2Online sales discussed throughout includes sales of our products from our websites and third - party platforms , as well as estimated sales of our products sold through our retailers ' websites . Page 1 of 18