#1HONEST WILLIAM BLAIR 42ND ANNUAL GROWTH STOCK CONFERENCE JUNE 7, 2022 THE HONEST COMPANY CHIEF EXECUTIVE OFFICER - NICK VLAHOS CHIEF FINANCIAL OFFICER - KELLY KENNEDY#2Legal Disclaimer: This presentation contains certain forward-looking statements within the meaning of the federal securities laws, including statements about the outlook of our business and industry and other matters referenced in our earnings release and SEC filings. All statements other than statements of historical fact contained in this presentation, including statements on our business strategy, plans, objectives, financial results, operating results, potential market and growth opportunities, or competitive position, are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, some of which management cannot predict, that could cause actual results to differ materially. Please refer to our SEC filings and earnings release for a more detailed description of the risk factors that may affect our results. You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this presentation primarily on our current expectations and projections about future events and trends that we believe may impact our business, financial condition, and operating results. Please note that these forward-looking statements reflect our opinions only as of the date of this presentation and we undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information, future events, or the occurrence of unanticipated events, except as required by law. Market data and industry information used through this presentation are based on management's knowledge of the industry and the good faith estimates of management. We also relied upon management's review of independent industry surveys and publications and other available information prepared by a number of third-party sources. All of the market data and industry information used in this presentation involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such data, information, and estimates. Although we believe that these sources are reliable, we cannot guarantee the accuracy or completeness of this information, and we have not independently verified the information provided by these or any other third-party sources referred to in this presentation. We make no representations or warranties as to the accuracy of any such statements, data, information, or estimates. Projections, assumptions, and estimates of our and our industry's future performance are subject to a high degree of uncertainty and risk. These uncertainties and risks, as well as other factors, could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by third-parties. 2#3KEY MESSAGES • Power of the Honest Brand A decade of inspiring consumers to love living consciously Ability to expand clean lifestyle brand into more categories • Re-Affirmed Outlook for 2022 post - Q1 Earnings • Fundamental Value Drivers Remain Unchanged 3#4Video Link: Join Us in Making an Honest World Video MONEST MAMA CARE HONEST BATH+ BODY BABY CLEANING JOIN US 900 ONEST HONEST BEAUTY 4#5Mission: Clean TO INSPIRE EVERYONE TO LOVE LIVING CONSCIOUSLY OUR BRAND PROMBE: Formulated by In-House Chemists with Human Health Top of Mind Effective PSY HONES ONEST K ORGANI HONESTⓇ Strong Consumer Reviews & Ratings of 4.4 Stars (1) Sustainable 100% PCR SHIPPERS + CARBON NEUTRAL SHIPPING CONTINENTAL D SHIPPING FOR HONEST COM ONLY Honest.com Shipments are Carbon Neutral Using 100% PCR Shipping Cartons (2) YOU SHOULDN'T HAVE TO CHOOSE BETWEEN WHAT WORKS AND WHAT'S GOOD FOR YOU Jessica Alba, Founder Note: 1. Amazon star ratings from 01/13/2018 through 03/20/2021 2. Our domestic Honest.com shipments from May 2020 to October 2021 were carbon neutral, and we expect our domestic Honest.com shipments to continue to be carbon neutral through the end of 2022 Socially Responsible Alla TM Committed to Diverse, Inclusive Workplace and Partnering with Non-profit BABY2BABY Baby2Baby сл#6A DECADE OF MAKING A DIFFERENCE It all started with an idea... 2009 PURPOSE DRIVEN IDEA FOUNDER JESSICA ALBA IDENTIFIES NEED FOR SAFE, EFFECTIVE PRODUCTS FOR FAMILY AFTER STRUGGLING TO FIND ANY AVAILABLE 2012 HONEST IS FOUNDED 5 DIAPERS & WIPES BABY PERSONAL CARE 2015 BUILDING A MOVEMENT Clean Beauty Groundbreaker EXPANDED INTO RETAIL STORES HONEST www BEAUTY 2017 GROWTH TRANSFORMATION HIRED EXPERIENCED CPG LEADERSHIP TEAM; AMAZON LAUNCH AND IN-HOUSE LABS Leveling up on sustainability ABY2BABY BABY BABY 2019 EXPANDING FOUNDATION BABY2BABY PARTNERSHIP EXPANSION WHILE CREATING SUSTAINABLE PACKAGING & FORMULAS WELL-ESTABLISHED PURPOSE DRIVEN LIFESTYLE BRAND THAT INSPIRES CLEAN CONSCIOUS LIVING 2022 & BEYOND FURTHER RETAIL DISTRIBUTION EXPANSION - WALMART, ULTA, GNC 10#7SALES HIGHLIGHTS (¹) HONEST BRAND HAS STRENGTH ACROSS CATEGORIES 32% Skin & Personal Care 63% Diapers & Wipes 5% Household & Wellness Notes: 1. As of FY 2021 2. Digital = Honest.com, Amazon and other third-party online retailers UNIQUELY BALANCED ACROSS DIGITAL AND RETAIL 49% 51% Digital (2) Retail 98% OF SALES IN US, INTERNATIONAL GROWTH POTENTIAL 98% International U.S. 2% 7#8CLEAN LIFESTYLE BRAND POSITIONED FOR GROWTH LARGE TOTAL ADDRESSABLE MARKET Total Market Size $130 Bn C Clean / Natural $17Bn 13% of Total CLEAN / NATURAL GROWING 6X FASTER THAN CONVENTIONAL U.S. Markets 2019A - 2025E CAGR 1.5% Conventional 6x Greater Than Conventional 9.3% Clean / Natural Source: Company estimates; Third party survey conducted on our behalf in August 2020 Notes: "Conventional" refers to brands that did not make explicit claims that their products were natural, "better-for-you", naturally derived or simplified formulations, or similar claims; "Clean/Natural" refers to brands that make explicit claims regarding their products being natural, "better-for-you", naturally derived or simplified formulations, or similar claims 8#9IN-HOUSE R&D CAPABILITY ENABLES SPEED-TO-MARKET IN-HOUSE R&D ● JEST • The Honest Standard • Three in-house labs Safety, sustainability, design & performance • In-house toxicologist Proprietary technology • "NO-list" TM of 3,500+ banned ingredients 2022 BEAUTY LAUNCHES: Fresh Flex Concealer, Acne launch (available at Ulta) and Extension of Best-Selling Clean Mascara ● NEW SUPPLMENT LAUNCHES: Focusing on new products in sleep, stress, immunity, hair health in addition to pre-natal Pre / Post Natal Wellness Supplements PRENATAL YOUT Prenatal Stress THE HONEST CO 2022 NEW PRODUCTS bab FRENATAL IN BOOSTER Sleep THE HONEST CO pop Post-partum YOU Immunity *THE HONEST CO innst best b POSTNATAL FEELIN' MY HOOTS HAIR HEALTH ----------- New to Assortment ------- HONEST Concealer (16 Shades) HONEST HONEST HONEST *HONEST 11* IN THE CLEAR www HONEST Clean Clearing Line (Cleanser, Serum, Spot Treatment) RESTAGE: PERSONAL CARE AND TRAINING PANTS HOT ACHEPOT 4252 CLEAN CONSCIOUS TRAINING PANTS SOUS VETEMENT D'ENTRAINEMENT 2T-3T 9#10DRIVING RESULTS THROUGH CONTENT, COMMUNITY, COMMERCE Content ORGANIC VIDEOS AND INFLUENCER-LEAD VIDEOS DAY TO NIGHT PARTY LOOK MULTI-TASKING MAMA SENSITIVE SKIN ROUTINE ASSNOWD SUSTAINABLE BEAUTY HONEST LO TAY Community DYNAMIC COMMUNITY ~52MM TOTAL Followers on Social Media (1) BEAUTY TikTok சூராணயாம் Note: 1. Total followers for Jessica Alba + Honest on Twitter, Facebook, Instagram, YouTube and Pinterest as of 3/31/2022 2. Third Party Data data as of 12/31/2021 Sakuch MONEY Commerce HONEST OMNI-CHANNEL FLAGSHIP EXPERIENCE HONEST HONEST HONEST BEAUTY Honest started as a native DTC brand, expanding into over 43K retail locations (2) 10#11GROWING AWARENESS, HOUSEHOLD PENETRATION AND ACV Brand Awareness: Among diaper users, current unaided brand awareness increased to 29% (up from 25% in Q1 2021) (¹) Household Penetration: Increased to 5% in FY 2021, an increase of 2.7M new households over the last two years ACV: Represents significant opportunity with 49% today up from 22% in 2018 (1) (2) ● ● ● BRAND AWARENESS 25% Q1 2021 29% Q1 2022 Source: 1. Third Party Consumer Data as of 2/1/2022 2. Third Party Data as of 12/31/2021 HOUSEHOLD PENETRATION 3% 2019 5% 2021 22% 2018 ACV 49% 2021 11#12BALANCED OMNI-CHANNEL CAPABILITIES HONEST DIGITAL VS. RETAIL (% OF SALES) 55% POSITIONED TO CAPTURE WHEREVER OUR CONUSMER WANTS TO SHOP 45% 2019 55% 45% 2020 Digital Retail Note: 1. Source: Company estimates and third-party data ending December 2021 49% 51% 2021 RETAIL Long-standing retail partnership with Target Over 43,000 total retail distribution locations (1) Expanding to NEW retail partners, including online and in-store at Walmart, Ulta, GNC Expanding Int'l with a leading distribution partner in Asia, SuperOrdinary SUPERORDINARY ● ● GNC DIGITAL DTC native brand at Honest.com Digital partners include Amazon and other on-line ● LIVE WELL. third-party retailers • Investments in digital will optimize Honest.com and create rich mobile experience including faster load times, customization and rewards target Walmart ULTA B E AUTΥ amazon HONEST 12#13ESG: A DECADE OF LEADERSHIP PEOPLE 26 MILLION+ PRODUCT DONATIONS 71% 50% Of Workforce Is Female (1) 44% Of Workforce is Diverse (1) Female Board Member Representation (3) Top 100 WITH THE GREATEST Diversity & Inclusion Initiatives 2020 Mogul BABY2BABY Note: 1. As of March 2022 2. Associate Director and above levels 3. As of May 25, 2022 65% Of Leadership Is Female (2) built in 2021 BEST PLACES TO WORK LOS ANGELES PERKS & BENEFITS PRODUCTS 3,500 INGREDIENTS TM ON "NO LIST" ™M DIAPERS: 100% of the Chlorine-Free Fluff Pulp in our diapers comes from sustainably managed forest and the back sheets are made of plant-based materials WIPES: Baby wipes feature a 100% plant-based substrate * All products are cruelty free, never tested on animals & adhere to our NO ListTM-3,500 ingredients we choose not to use (including parabens, sulfates, phthalates, formaldehyde donors & synthetic fragrances) PLANET SUSTAINABILITY FOCUSED ACROSS PORTFOLIO Beauty Restage includes sustainable packaging and Honest.com shipping uses 100% PCR shipping cartons 85% of our baby and mama care formulas are USDA biopreferred Clean Conscious Diaper: Green Seal Certified 100% PCR SHIPPERS + CARBON NEUTRAL SHIPPING' CONTINENTAL IS SRITING FOR WENESTCOM ONLY USDA CERTIFIED BIOBASED PRODUCT GREEN PRODUCT 100% SEAL CERTIFIED 13#14HONEST FINANCIAL OVERVIEW CHIEF FINANCIAL OFFICER KELLY KENNEDY#15CORE CATEGORIES REFLECT STRONG GROWTH Core Revenue consists of Diapers & Wipes and Skin & Personal Care product categories (95% of sales) ¹ Emerging Revenue consists of products in the Household & Wellness category High demand of consumer sanitization and disinfecting products in 2020 drove emerging revenue - Continued innovation focused on revitalizing this category $268M - TOTAL REVENUE: Note: 1. As of FY 2021 $221M $15M 2019 $236M +22% Growth $33M 2020 $301M +13% Growth $303M $16M 2021 $319M 15#162022 OUTLOOK AS OF Q1 EARNINGS (¹) SALES ● Q2 - Q4 2022: Mid-Single Digit Growth Reflects product innovation and distribution gains with new strategic retail partners including: Walmart, Ulta, GNC, Super Ordinary ADJUSTED EBITDA Full year 2022 outlook remains unchanged and is expected to be a loss in the range of negative $5 million to negative $10 million Improvement anticipated to be 2H-weighted, reflecting: Heightened inflationary pressures in 1H of the year Increasing benefit of price increases, margin- accretive innovation, new distribution & cost savings ● HEALTHY BALANCE SHEET Greater than $75M in cash and cash equivalents with no debt (2) Notes: 1. May 13, 2022 Earnings 2. As of March 31, 2022, ended with $78 million in cash, cash equivalents and short-term investments 16#17VALUATION 1. Sufficient cash to support growth investments in marketing, digital, and people 2. No debt not exposed to interest rate volatility 3. HNST has one of the lowest EV/Sales ratios among consumer peer set In addition, HNST has greater than $75M in cash as of end of Q1 2022 - EV/Sales 16.0 6.9 4.7 1 2 3 3.6 2.8 2.7 2.0 1.7 1.4 1.1 HNST 0.9 4 5 6 7 8 9 10 11 Consumer Peer Group Companies Notes: 1. Source: Nasdaq IR - as of market close on May 27, 2022 2. Peer Group Companies include: Allbirds, Coty, elf Beauty, Freshpet, Kimberly-Clark, Oatly, Olaplex, Procter & Gamble, Vital Farms, Whole Earth Brands and Zevia 0.4 12 17#18WHY INVEST IN HONEST? YOU SHOULDN'T HAVE TO CHOOSE BETWEEN WHAT WORKS AND WHAT'S GOOD FOR YOU Jessica Alba, Founder leve 1 Clean & Natural Brands on Trend for the Millennial and Gen Z consumer 2 Large Total Addressable Market with Clean & Natural Growth outpacing Conventional 3 True Omni-Channel Capability across Digital and Retail (50% Digital, 50% Retail) 4 Strong Balance Sheet with No Debt and over $75MM in Cash 5 Significant Margin and Profitability Expansion Opportunity as we Scale the Brand 18#19HONEST Q&A