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Notice for 2Q 2019 Earnings Webcast

Notice for 2Q 2019 Earnings Webcast

July 26, 2019

Notice for Webcast

Our conference call and the related webcast contain non-GAAP financial measures, which differ from our reported results prepared in accordance with U.S. generally accepted accounting principles (GAAP).  These non-GAAP financial measures of operating results for the three and six months ended June 30, 2019 exclude charges resulting from the Global Growth and Efficiency Program.  A complete, quantitative reconciliation between our reported results and these non-GAAP financial measures is available in the “Investor Center” section of our website at

The Company also reports organic sales growth, which is Net sales growth excluding, as applicable, the impact of foreign exchange, acquisitions and divestments.  See the “Investor Center” section of our website at for a comparison of organic sales growth to sales growth in accordance with GAAP.

The Company defines free cash flow before dividends as Net cash provided by operations less Capital expenditures.  Free cash flow before dividends is not a measure of cash available for discretionary expenditures since the Company has certain non-discretionary obligations such as debt service that are not deducted from the measure.  Free cash flow before dividends is a non-GAAP financial measure and may not be comparable to similarly titled measures reported by other companies.  See the “Investor Center” section of our website at for a comparison of free cash flow before dividends to Net cash provided by operations, as reported in accordance with GAAP.

Our conference call and the related webcast may also contain forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission (“SEC”) in its rules, regulations and releases) that set forth anticipated results based on management’s current plans and assumptions.  Such statements may relate, for example, to sales or volume growth, net selling price increases, organic sales growth, profit or profit margin growth, earnings per share levels, financial goals, the impact of foreign exchange volatility, cost-reduction plans, including the Global Growth and Efficiency Program, tax rates, U.S. tax reform, new product introductions or commercial investment levels, acquisitions, including the recently announced agreement to acquire the Filorga skin care business, and divestitures, or legal or tax proceedings, among other matters.  These statements are made on the basis of our views and assumptions as of this time and we undertake no obligation to update these statements whether as a result of new information, future events or otherwise, except as required by law or by the rules and regulations of the SEC.  Moreover, we do not, nor does any other person, assume responsibility for the accuracy and completeness of those statements.  We caution investors that any such forward-looking statements are not guarantees of future performance and actual events or results may differ materially from those statements.  For information on factors that could impact the Company’s business and cause actual results to differ materially from forward-looking statements, refer to the Company’s filings with the SEC (including, but not limited to, the information set forth under the captions “Risk Factors” and “Cautionary Statement on Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and subsequent Quarterly Reports on Form 10-Q).  Copies of these filings may be obtained upon request from the Company’s Investor Relations Department or on the Company’s website at

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