Estée Lauder (EL) risk factors: FY2026 10-K

1. The beauty business is highly competitive, and if we are unable to compete effectively our business will suffer.
2. Our inability to anticipate and respond to market trends and changes in consumer preferences could adversely affect our business.
3. Our future success depends, in part, on our ability to achieve our long-term strategy.
4. Acquisitions, divestitures and other strategic actions may expose us to additional risks.
5. Our business could be negatively impacted by social impact and sustainability matters.
6. We use AI, and challenges with properly managing its use could have an adverse impact on our business.AI
7. A general economic downturn, or disruption in business conditions may adversely affect our business including consumer purchases of discretionary items and/or the financial strength of our customers that are retailers.
8. Our success depends, in part, on the quality, efficacy and safety of our products.
9. Our success depends, in part, on our key personnel.
10. We are subject to risks related to the global scope of our operations.
11. A disruption in our operations, including supply chain, could adversely affect our business.
12. As we outsource functions and consolidate service providers, we become more dependent on the entities performing those functions and services.reworded

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1. Changes in laws, regulations and policies could adversely affect our business.
2. Disputes and other legal or regulatory proceedings could adversely affect our business.
3. Government reviews, inquiries, investigations and actions could harm our business.

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1. The compromise or interruption of, or damage to, our information technology (including our operational technology and websites) by cybersecurity incidents, data security breaches, other security problems, design defects or system failures could have a material negative impact on our business.Cybersecurity

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1. The trading prices of our securities periodically may rise or fall based on the accuracy of predictions of our financial performance.
2. We are controlled by the Lauder family. As a result, the Lauder family has the ability to prevent or cause a change in control or approve, prevent or influence certain actions by us.
3. We are a “controlled company” within the meaning of the New York Stock Exchange rules and, as a result, are relying on exemptions from certain corporate governance requirements that are designed to provide protection to stockholders of companies that are not “controlled companies.”

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