10% owner reported a gift or transfer of 4.77M EL shares

1. There is no exercise or conversion price for the Class B Common Stock. Shares of Class B Common Stock (i) may be converted immediately on a one-for-one basis by the holder into shares of Class A Common Stock and (ii) are automatically converted into Class A Common Stock on a one-for-one basis upon transfer to a person or entity that is not a "Permitted Transferee" (as defined in Issuer's Restated Certificate of Incorporation) or soon after a record date for a meeting of stockholders where the outstanding Class B Common Stock constitutes less than 10% of the outstanding shares of Common Stock of the Issuer.
2. Shares acquired from Ronald S. Lauder for no consideration.
3. Not applicable.
4. Owned directly by the RSL Shares Trust u/a/d March 2, 2026 (the 'RSL Shares Trust'). The Reporting Person is trustee.

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