#1BEAUTYHEALTH™ Q1 2023 Earnings Presentation May 10, 2023#2Disclaimer This Presentation contains certain forward-looking statements. These statements may relate to, but are not limited to, expectations of future operating results or financial performance of The Beauty Health Company (the "Company"), capital expenditures, the introduction of new products, expansion into new markets and the ability to execute certain strategic initiatives. Some of the forward-looking statements can be identified by the use of forward-looking words such as "anticipate," "expect," "suggests," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," "outlook," "forecast" and other similar expressions. These are intended to identify forward-looking statements. All forward- looking statements are based upon management estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company as of the date of this Presentation. Any such estimates, assumptions, expectations, forecasts, views or opinions set forth in this Presentation constitute the Company's judgments and should be regarded as indicative, preliminary and for illustrative purposes only. The forward-looking statements and projections contained in this Presentation are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause the Company's actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition. Although such forward-looking statements have been made in good faith and are based on assumptions we believe to be reasonable, there is no assurance that the expected results will be achieved. Many factors could adversely affect our business and financial performance. We discussed a number of material risks in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2023 and other filings with the Securities and Exchange Commission. Those risks continue to be relevant to our performance and financial condition. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures In addition to results determined in accordance with accounting principles generally accepted in the United States of America (GAAP), management utilizes certain non-GAAP financial measures such as adjusted gross profit, adjusted gross margin, adjusted net income (loss), adjusted EBITDA and adjusted EBITDA margin for purposes of evaluating ongoing operations and for internal planning and forecasting purposes. Management believes that these non-GAAP financial measures, when reviewed collectively with the Company's GAAP financial information, provide useful supplemental information to investors in assessing our operating performance. These non-GAAP financial measures should not be considered as an alternative to GAAP financial information or as an indication of operating performance or any other measure of performance derived in accordance with GAAP, and may not provide information that is directly comparable to that provided by other companies in its industry, as these other companies may calculate non-GAAP financial measures differently, particularly related to non-recurring, unusual items. The Company does not provide a reconciliation of its fiscal 2023 adjusted gross margin guidance to gross margin or its adjusted EBITDA margin guidance to net income (loss), the most directly comparable forward looking GAAP financial measures, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, which cannot be done without unreasonable efforts, including adjustments that could be made for changes in fair value of warrant liabilities, integration and acquisition-related expenses, amortization expenses, non-cash stock-based compensation, gains/losses on foreign currency, and other charges reflected in our reconciliation of historic numbers, the amount of which, based on historical experience, could be significant. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. The Company's fiscal 2023 adjusted gross margin and adjusted EBITDA margin guidance is merely an outlook and is not a guarantee of future performance. Stockholders should not rely or place an undue reliance on such forward-looking statements. See "Forward- Looking Statements" for additional information. Management uses adjusted gross profit and adjusted gross margin to measure profitability and the ability to scale and leverage the costs of delivery systems and consumables. The continued growth of delivery systems is expected to improve adjusted gross margin, as additional delivery systems sold will increase the Company's recurring consumables net sales, which has higher margins. Management believes adjusted gross profit and adjusted gross margin are useful measures to the Company and its investors to assist in evaluating operating performance because they provide consistency and direct comparability with past financial performance and between fiscal periods, as the metrics eliminate the effects of amortization, depreciation, and stock-based compensation, which are non-cash expenses that may fluctuate for reasons unrelated to overall continuing operating performance, and other items such as the write-off of discontinued and obsolete product. Adjusted gross margin has been and will continue to be impacted by a variety of factors, including the product mix, geographic mix, direct vs. indirect mix, the average selling price on delivery systems, and new product launches. Management expects adjusted gross margin to fluctuate over time depending on the factors described above. Adjusted net income (loss), adjusted EBITDA, and adjusted EBITDA margin are key performance measures that management uses to assess the Company's operating performance. Because adjusted net income (loss), adjusted EBITDA and adjusted EBITDA margin facilitate internal comparisons of our historical operating performance on a more consistent basis, management uses these measures for business planning purposes. Management also believes this information will be useful for investors to facilitate comparisons of operating performance and better identify trends in the business. Management expects adjusted EBITDA margin to increase over the long-term, as the Company continues to scale its business and achieve greater operating leverage. The Company calculates adjusted net income (loss) as net income (loss) adjusted to exclude: change in fair value of warrant liability; amortization expense; loss on disposal of assets; stock-based compensation expense; interest income; other (income) expense, net; transaction related costs; write-off of discontinued and obsolete product; severance, restructuring, and other; litigation related costs, and the aggregate adjustment for income taxes for the tax effect of the adjustments described above. The Company calculates adjusted EBITDA as adjusted net income (loss) adjusted to exclude: depreciation expense; interest expense; foreign currency loss (gain), net; and the remaining (benefit) expense for income taxes. 2 BEAUTYHEALTH™#3Today's agenda 3 Opening Remarks Andrew Stanleick President & Chief Executive Officer Q1 2023 Results & FY 2023 Outlook Liyuan Woo Chief Financial Officer Q&A BEAUTYHEALTH™#4Andrew Stanleick President & Chief Executive Officer Opening Remarks BEAUTYHEALTH™#5Underlying consumer demand for Hydrafacial remains strong Amidst strong Syndeo traction and China recovery, raising FY 2023 net sales guidance LO 5 Strong consumables revenue growth demonstrates continued healthy consumer demand Americas: +34% Q1 2023 YOY EMEA: +13% Q1 2023 YOY APAC: (22)% Q1 2023 YoY +35% adjusting for Q1 2022 Russia contribution COVID-related impact January & February Double-digit topline growth, continues quarterly trend Kol $86.3mm Q1 2023 net sales +14% growth YoY $(0.5)mm Q1 2023 adjusted EBITDA¹ ($22.3mm GAAP net loss) 1. Non-GAAP measure; refer to the disclaimer for a discussion of the definition of this measure and appendix for reconciliation to the most appropriate GAAP measure. Raising FY23 net sales guidance and affirming FY23 EBITDA and long-range targets $460 480mm FY 2023 net sales 18 - 20% FY 2023 adj EBITDA margin Re-affirming long-range 2025 net sales and adjusted EBITDA targets BEAUTYHEALTH™#6Continued progress against our 5-point Master Plan CO al Expand footprint, drive consumables 6 C 2 Tht Invest in providers 3 Drive brand awareness 8 (50) Optimize global infrastructure G 5 S M&A BEAUTYHEALTH™#7Syndeo turns 1 and goes global Now in 14 markets and 16 by end of year 2023 16 direct markets launched Late Q2 2023 Launched ●●000++ Q1 2023 4,945 Syndeo global install base 7 Q4 2023 2024 distributor markets expansion Hydrafacial CLEANE EXTR Haber Het HYDRA War We Ha Indofacal 6 Hydrafaciar The future kin health ere SyndeoⓇ BEAUTYHEALTH™#8Building our Hydrafacial Nation Now 40,000+ estheticians trained globally rafacial 3 Steps: 30 Minutes Best Skin Of Your Life. The 3 essential steps of every Hydrafacial treatment. Cleanse Deeply cleanses and exfoliates with a gentle peel to uncover a new layer of skin Extract Removes impurities from pores with painless gentle suction Hydrafacial 女己容 | 光彩新生 母亲节优享活动 会员专享 DIAN PADAN CO B 8 16 MA RAZBIE Hydrafacial www Hydrafacial Hydraf ial ABA ***** Hydraficial 技术更稳定 |真空负压 更稳定 Hydr ticky Beijing Experience Center 更贴合 Hos on ot 1 Hydrafacial TITT HAGE LITE FACE FIRS (Hf. TM 海菲秀 体验中心 Thi Shanghai Experience Center Hydrafacial BEAUTYHEALTH™ EURE 28#9Growing awareness, trial and affinity with brand-building programs 9 PARTNER EVENTS & PROMOTIONS 10 MALO ALONE Per trent by Hy afacial glowing results eyes, and face. TY ADVISOR TO BOOK A IZED TREATMENT TODAY! Perk by Hydrafacial in-store activation, select Sephora stores INFLUENCER & CELEB FANS ASS VIL Happy Birthday influencer seeding campaign ASSIFMD Part & Tome .. 66 EDITORIAL COVERAGE allure The Hydrafacial Phenomenon: Why Everyone Is Obsessed With This In-Office Treatment GLOSSY Hydrafacial is upping its cool factor, one brand partnership at a time وو وو AWARDS & RECOGNITION AWARD 2023 NEWBEAUTY WINNER THE BEAUTY READERS BEAUTY UTHORITY COSMOPOLITAN CHOICE VOTE NOW 2023 AWARDS BEAUTY GL2023 BAL AWARDS Finalist Best Hydrating Facial Your Favorite In-Office Cosmetic Treatment VOTING OPEN! Best New Aesthetic Treatment FINALIST BEAUTYHEALTH™#10Resetting the baseline with increasing EMV growth and sustained gains in organic search Earned media value ($mm)1 Worldwide Google search trends 10 $2.0 Q1 2022 +134% YoY growth $4.7 Q1 2023 полим Jan-19 Interest over time Nov-19 1/ Q1 2023 поративним днем Wh Source: Tribe Dynamics and Google as of 04/25/23. 1. Earned Media Value is a proprietary metric published by Tribe Dynamics used as an influencer marketing metric to quantify the value of social media content. FY 2022 average Sep-20 Jul-21 +13% YoY growth May-22 Mar-23 BEAUTYHEALTH™#11Unleashing our ready infrastructure in China as the market returns APAC Syndeo launch in Shanghai, with customers, press, & influencer events 11 海菲秀新品发布会 & Ster D Pila E NT YN Dan (HE) th Syndeo & Beijing Experience Center launch event with customers & press H Hydrafacial BEIJING rafacial JING cial Hydrafacial BEIJING icial Hydrafa BEIJIN Hydrafacial Hydrafacial BEIJING Hydrafacial SlaHydrafacial REIJING form Gagal Hydra BEL Hydra BEIJIN Hydrafacial BEIJING EIJING Konf elina Rahul Hydrafacial BEIJIN 海非秀 Hydral BEIJ Hydrafacial BEIJING Hydrafacial BEIJING Hydrafacial Hydrafacial FEEDBACK FRAMEWORK WHAT'S WORKING NOW! WHAT'S NOT WORKING YETT WHATSING WHAT'S POSSIBLE APAC Annual Sales Meeting & Training in Shanghai Villa 2023: All In To Win Hydrafacial 4 WHATE HOT WORKING YET (5 2023 All In To Win BEAUTYHEALTH™#12Our vision is to continue to accelerate through M&A Differentiated product or service / high Net Promoter Score Identify gaps in portfolio Integrate and realize synergies 12 Acquire digestible asset Complementary to our existing platform and community, leveraging the trusted esthetician Financially attractive profile via compelling revenue growth, recurring revenue characteristics and / or profitability Prudent approach and opportunistic philosophy 5 BEAUTYHEALTH™#13ITEM NO: SIZE QUANTITY 13 PICK TICKET LOOK YOUNGER MO 6279 SkinStylus SteriLock The Gold Standard In Microneedling 5 Welcome to Beauty Health, SkinStylus! Integration complete and operationalized First SkinStylus shipment leaves Beauty Health warehouse Expansion plans underway BEAUTYHEALTH™#14Takeaways 14 7 Healthy consumer demand 2 Double-digit topline growth 3 Raising 2023 net sales guidance fac bydrafacial Irafac FA13 Indralac %₂ BEAUTYHEALTH™#15Liyuan Woo Chief Financial Officer Q1 2023 Results & FY 2023 Outlook BEAUTYHEALTH™#16Q1 2023 financial highlights Net sales by segment ($mm) % YoY growth Systems Consumables Net sales 16 $47.5 21.9 25.7 21212 51% 23% 37% $66.5 $68.1 31.6 34.9 ■Delivery Systems Q2 21² 67% 48% 57% 32.0 36.2 Q3 21² 90% 55% 72% $77.9 35.2 42.7 Q4 21² 74% 39% 56% I Consumables Trade-Ups Natural seasonal__ $75.4 33.8 41.6 Q1 22 62% 54% 59% de-builds $103.5 23.3 38.8 41.5 $80.2 Q2 22 85% 23% 56% $88.8 39.7 49.1 Q3 22 36% 24% 30% $98.1 1. Trade-Up revenue only disaggregated in Q2 22. 2. Year-over-year growth for 2021 periods is compared to 2019. The Company believes 2019 is a more meaningful comparison than 2020 given the pandemic disruption in 2020. 47.4 50.7 Q4 22 19% 35% 26% Syndeo US launch quarters Continued strength in consumables growth $86.3 40.9 45.4 Q1 23 9% 21% 14% Comp vs Syndeo US launch BEAUTYHEALTH™#17Q1 2023 financial highlights (cont'd) Net sales by region ($mm) APAC EMEA Total $47.5 17 580 7.5 8.8 % YoY growth Q1 21² Americas 18% 252% 29% 37% 31.3 $66.5 11.4 12.4 42.7 Q2 21² 34% 344% 46% 57% $68.1 12.6 10.5 45.0 Q3 21² 51% 218% 94% 72% Americas APAC EMEA Trade-Ups¹ $77.9 15.5 12.0 50.4 Q4 21² 47% 64% 84% 56% $75.4 17.9 12.9 44.6 Q1 22 43% 47% 140% 59% $103.5 17.8 10.4 52.1 $88.8 $80.2 15.3 Q2 22 77% (17%) 56% 56% 15.1 58.4 Q3 22 30% 44% 21% 30% 1. Trade-Up revenue only disaggregated in Q2 22. 2. Year-over-year growth for 2021 periods is compared to 2019. The Company believes 2019 is a more meaningful comparison than 2020 given the pandemic disruption in 2020. $98.1 17.3 15.9 64.9 Q4 22 29% 33% 12% 26% $86.3 19.7 13.6 53.0 Q1 23 19% 6% 10% 14% Comp vs Syndeo US launch Lockdown impact +20% YoY excl. Russia BEAUTYHEALTH™#18Q1 2023 key performance indicators 27,406 1,636 $25,099 $45.4mm Delivery system revenue $40.9mm Consumables revenue +21% YoY 18 1. Average Selling Price. Net global install base +26% YoY New delivery system placements +4% YoY Delivery system ASP¹ +17% YoY Edit Treatment Deluwe HydraFacial Exfoliation instructions and spread o Ang 60% opping Make Device To hydrafacial Serim Ade4 ACTIV-4 Treatment Pattern Dalang ft Overlang Step 1 Step 4 Step BETA HD CLEAR ANTICE ! BETA-HO CLEAR INSEAWAY 14 ! ANTION e ANSEAWAY BEAUTYHEALTH™#19Sustained and durable consumables trend Annual consumables revenue per active delivery system - MedSpa ~$7,900 19 I T I I I ~$6,600 Treatments per System 1 MedSpa utilization ramp for delivery systems purchased Q1 2012 Q3 2022 - Q+2 Q+3 2 3 Years delivery system in service Q+4 4 Q+5 Q+6 Q+7 Q+8 Q+9 Q+10 Q+11 Q+12 Quarters since system purchase Long-term upside in consumables revenue as install base matures BEAUTYHEALTH™#20Q1 2023 financial highlights Gross margin and adjusted gross margin¹ 20 67.5% Q1 2022 62.7% Q1 2023 GAAP gross margin $3mm value engineering related write-offs Pre-launch lower margin refurbished Elite sales 71.3% 70.0% Q1 2022 Q1 2023 Adjusted gross margin¹ Note: Q1 2022 reflects the impact of immaterial revisions to the financial statements. 1. Non-GAAP measure; please refer to the appendix for a reconciliation to the appropriate GAAP measure. Net income (loss) and adjusted net income (loss)¹ ($mm) $31.5 ($22.3) Q1 2022 Q1 2023 Net income (loss) Adjusted EBITDA¹ ($mm) $1.2 1.5% Q1 2022 ($9.5) -% margin Q1 2022 ($5.5) Adjusted net income (loss)¹ (0.6%) ($0.5) Q1 2023 Q1 2023 BEAUTYHEALTH™#21Q1 is seasonally our trough quarter Sequential net sales growth by calendar quarter +50% +40% +30% +20% +10% 0% (10%) (20%) 21 Q1 -FY 2021 -FY 2022 Natural seasonal de-builds Q2 FY 2023 Q3¹ Q4 1. Q3 2022 vs Q2 2022 net sales growth excludes $23.2mm net sales from trade-ups to Syndeo systems in Q2 2022. Drivers of seasonality Sequential Trend Q1 ↑ ↑ Q4 ↑ Q2 Q3 Drivers Trough demand Difficult comp vs peak Q4 Leads generated from trade show-heavy Q1 convert Summer seasonality impact Peak consumer consumption and capex spending % FY22 Net Sales 21% 28% 24% 27% BEAUTYHEALTH™#22We are naturally a back-half weighted business % adjusted EBITDA contribution by quarter, FY 2022¹ 22 2% Q1 2022 Includes $23.3mm trade- up benefit 27% Q2 2022 Back-half weighted 35% Q3 2022 35% Q4 2022 Note: Amounts may not sum due to rounding; Q1 2022 reflects the impact of immaterial revisions to the financial statements. 1. Adjusted EBITDA is a non-GAAP measure; please refer to the disclaimer for a discussion of the definition of this measure and important information regarding the assumptions underlying. 100% FY 2022 BEAUTYHEALTH™#23Q1 2023 cost detail ($mm) Gross Profit Selling & Marketing 23 G&A R&D Q1 2023 Q1 2022¹ Δ Q1 2022 Q1 2023 $54.1 38.7 30.4 2.3 $50.9 36.4 26.3 2.2 +$3.2 1. Reflects the impact of immaterial revisions to the financial statements. +2.3 +4.1 +0.1 62.7% 44.9% 35.2% 2.7% % net sales Q1 2022 67.5% 48.3% 34.8% 3.0% Δ Q1 2022 |Δ Commentary (4.8%) (3.4%) 0.4% (0.2%) Optimization write-offs and pre-Syndeo launch low margin refurbished Elite pre-sale impact Increases in sales commissions associated with higher revenues partially offset by leverage of fixed marketing investment; despite upfront investment for Syndeo international launch Increase in software expenses, including certain contract termination costs, and professional services fees, including patent litigation expenses, partially offset by lower recruiting related expenses Relatively flat BEAUTYHEALTH™#24Q1 2023 balance sheet highlights Cash and cash equivalents Warrants Convertible debt Revolving credit facility Shares outstanding 24 Approximately $532.3 million cash and cash equivalents on balance sheet Approximately 7 million Private Warrants outstanding $750 million 1.25% convertible notes due 2026 → Use of proceeds: capped call transaction, potential future acquisitions, working capital expenditures, and general corporate purposes → Conversion price of $31.76; capped call agreement provides dilution protection up to $47.94 $50 million Senior Secured Credit Facility remains undrawn; current undrawn commitment fee of 25 bps Allows flexibility for future M&A; ex-US operations unencumbered; convertible debt excluded from covenants Approximately 132.6 million current shares outstanding Both $100 million accelerated share repurchase programs completed; aggregate of 18.8 million shares retired at average price of $10.78 per share BEAUTYHEALTH™#25Confidence to achieve 2023 outlook Raising FY 2023 net sales guidance on confidence in plan $460-480mm 2023E net sales Year-to-go net sales bridge ($mm) $373.7 -$393.7 25 $86.3 29-36% YoY growth Q1 2023 Strong consumer demand Global traction of Syndeo China recovery 2023 year-to-go $460-$480 126 -31% YoY growth FY 2023E 18 - 20% 2023E adjusted EBITDA¹ margin Year-to-go adjusted EBITDA margin bridge 22% 25% (0.6%) Q1 2023 Gross margin expansion Operating leverage Seasonally back-half weighted business 1. Adjusted EBITDA margin is a non-GAAP measure; please refer to the disclaimer for a discussion of the definition of this measure and important information regarding the assumptions underlying the outlook. $83.3 - 96.5mm 2023 year-to-go 18% - 20% $82.8- 96.0mm FY 2023E BEAUTYHEALTH™#26Takeaways 26 7 Healthy consumer demand 2 Double-digit topline growth 3 Raising 2023 net sales guidance ydrafacial BEAUTYHEALTH™#27Andrew Stanleick President & Chief Executive Officer Liyuan Woo Chief Financial Officer Q&A BEAUTYHEALTH™#28hydrafacial drafacial TOTA hydrafacial THE BEST SKIN OF YOUR LIFE ONALISATION STATION daf @hyd afacia #hydrafacialLON Appendix hydrafac hrafa @hydrafacialuk #hydrafacialLDN BEAUTYHEALTH™#29Reconciliation of gross margin to adjusted gross margin ($mm) Net sales Cost of sales Gross profit (GAAP) Gross margin (GAAP) Adjusted to exclude the following: Write-off of discontinued and obsolete product Stock-based compensation expense included in cost of sales Depreciation and amortization expense included in cost of sales Adjusted gross profit Adjusted gross margin 29 Note: Amounts may not sum due to rounding. 1. Reflects the impact of immaterial revisions to the financial statements. Three months ended March 31, 2022¹ $75.4 24.5 $50.9 67.5% 2023 $86.3 32.2 $54.1 62.7% 3.0 0.3 3.0 $60.4 70.0% 0.2 2.7 $53.8 71.3% BEAUTYHEALTH™#30Reconciliation of net income to adjusted EBITDA ($mm) Net sales Net income (loss) Adjusted to exclude the following: Change in fair value of warrant liability Amortization expense Loss on disposal of assets Stock-based compensation expense Interest income Other (income) expense, net Transaction related costs² Write-off of discontinued and obsolete product Severance, restructuring and other³ Litigation related costs Aggregate adjustment for income taxes Adjusted net loss Depreciation expense Interest expense Foreign currency (gain) loss, net Remaining (benefit) expense for income taxes Adjusted EBITDA Adjusted EBITDA margin 30 Three months ended March 31, 2022¹ $75.4 $31.5 2023 $86.3 ($22.3) 9.1 4.4 0.1 3.6 (4.3) (0.4) 3.0 2.9 1.0 (2.5) ($5.5) 1.8 3.4 0.9 (1.2) ($0.5) (0.6%) (52.1) 3.7 0.8 7.0 0.1 1.0 2.0 (3.6) ($9.5) 1.4 3.4 (0.4) 6.2 $1.2 1.5% Note: Amounts may not sum due to rounding. 1. Reflects the impact of immaterial revisions to the financial statements. 2. For the three months ended March 31, 2022, such amounts primarily represent direct costs incurred in relation to potential acquisitions. 3. For the three months ended March 31, 2023, such costs represent executive severance, retention awards, and contract termination costs. For the three months ended March 31, 2022, such costs represent personnel costs related to executive recruiting, executive severance and a CEO sign-on bonus. BEAUTYHEALTH™#31BEAUTYHEALTH TM