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Foreign currency negatively impacted both Diluted earnings per share and Adjusted diluted earnings per share by an estimated $0.03 per share, driven by the strength of the U.S. dollar against the currencies of the countries in which the Company operates. "Avon's third-quarter results reflect broad-basedperformance improvements resulting in local currency sales growth across our top markets and significant operating margin expansion versus the prior year," said Sheri McCoy, Chief Executive Officer of Avon Products, Inc. "We have also taken actions to significantly improve our balance sheet and have accelerated the pace of our 2016 cost savings initiatives.I am pleased with our progress against the Transformation Plan as we continue to position Avon to deliver sustained long-term profitable growth." Third-Quarter 2016 Income Statement Highlights (compared with third-quarter 2015) Total revenue for Avon Products, Inc. declined 2% to $1.4 billion, but increased 4% in constant dollars. Total revenue from reportable segments declined 2% to $1.4 billion, but increased 4% in constant dollars. Active Representatives were relatively unchanged year-over-year, as increases in South Latin America and Europe, Middle East & Africa were offset by declines in Asia Pacific. Average order increased 4% due to growth in all reportable segments as the Company continues to benefit from pricing. Ending Representatives improved 1% due to growth in Europe, Middle East & Africa and South Latin America, partially offset by declines in Asia Pacific.

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