• Oriflame has implemented IFRS 15 Revenue from Contracts with Customers from 1st January 2018. An early adoption of IFRS 16 Leases has been made to allow for all changes being implemented at the same time.

• The application of IFRS 15 is impacting the income statement at different levels, both as a one-off adjustment and as reclassifications of costs. In order to facilitate the analysis of the company's underlying performance and minimize the impact from the one-off adjustment, Oriflame has decided to recognise the new IFRS 15 standard in applying the cumulative effect method at the date of initial application, with no restatement of the comparative period presented.

• To facilitate the comparison with the 2017 figures, the company has prepared fully adjusted 2018 figures in the first section of the interim report (pages 1-16), excluding the impact of IFRS 15, IFRS 16 and related accounting alignments. The fully adjusted figures are comparable with the already reported 2017 figures.

• Please note that due to accounting principles and the chosen implementation options of the new IFRS standards, the condensed consolidated financial statements on pages 17-21 in the interim report is calculated in accordance with IFRS (following the adoption of IFRS 15 and IFRS 16). These figures are not comparable with the already reported 2017 figures.

• Where not stated differently, the figures, graphs and comments in this interim report are based on the fully adjusted 2018 figures, to facilitate the comparison with the 2017 figures.

• Local currency sales increased by 8%, slightly positively impacted by timing of catalogues. Euro sales decreased by 2% to €334.1m (€340.1m). Euro sales amounted to €330.8m* in accordance with IFRS.

• Number of registered actives increased by 1% to 3.0m.

• EBITDA amounted to €42.1m (€40.4m) and to €46.3m* in accordance with IFRS.

• Operating margin was 9.2% (8.8%), negatively impacted by 320 bps from currencies, and operating profit was €30.6m (€29.8m). Operating margin was 10.5%* and operating profit was €34.8m* in accordance with IFRS.

• Net profit was €18.7m (€19.5m) and diluted EPS €0.32 (€0.34). The tax rate was unfavorably impacted by approximately 350 bps from withholding tax on extraordinary large intra group dividends during the quarter. Net profit was €21.0m* and diluted EPS €0.36* in accordance with IFRS.

• Cash flow from operating activities was €24.9m (€-1.5m) and €24.9m* in accordance with IFRS.

• The development in the second quarter to date is approximately -2% in local currency, negatively impacted by timing of catalogues in the CIS as well as conferences in most regions.

*Figures following the adoption of IFRS 15 and IFRS 16.

• After the end of the quarter, Oriflame successfully completed a €50m issue of Euro denominated US private placement notes bilaterally agreed with the international investor Pricoa. The proceeds refinance the private placement loan maturing during the third quarter 2018 and will be used for general corporate purposes

CEO Magnus Brännström comments

"2018 has started with a continued strong performance in Asia & Turkey, driven by high online activities, leadership development and the sales of Skin Care and Wellness routines. I am also pleased to report a stable underlying operating profit for the quarter, despite facing significant currency headwinds. However, Russia showed a notable slowdown during the second part of the first quarter due to both a weaker consumer offering and tougher competitive environment. The start of the second quarter has been negatively impacted by timing of catalogues in the CIS as well as conferences in most regions. We are taking measures where we meet sales challenges and remain confident in our long-term strategy."

Other
A Swedish translation is available on www.oriflame.com.

Conference call for the financial community

The Company will host a conference call on Friday, 4 May 2018 at 9.30 CET.

Participant access numbers:
SE: +46856642664
DK: +4535445575
FI: +358981710491
UK: +442030089814
NO: +4723500265
US: +18558315947

The conference call will also be audio web cast in "listen-only" mode through Oriflame's website: www.oriflame.com or through http://oriflame-ir.creo.se/180504

This report has not been audited by the Company's auditors.

May 4, 2018
Magnus Brännström
Chief Executive Officer

For further information, please contact:
Magnus Brännström, Chief Executive Officer Tel: +41 798 263 754
Gabriel Bennet, Chief Financial Officer Tel: +41 798 263 769
Nathalie Redmo, Sr. Manager IR Tel: +41 799 220 173

This information is information that Oriflame Holding AG is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:15 CET on May 4, 2018.

Oriflame Holding AG
Bleicheplatz 3, CH-8200 Schaffhausen, Switzerland
www.oriflame.com
Company registration no CHE-134.446.883