Waldencast SPAC

GROWTH OPPORTUNITY: GROSS MARGIN TO UNLOCK FUEL IN EXISTING AND NEW MARKETS 44.6% 2018A Source: Company information 54.0% 2019A 40.7% 2020A 53.7% 2021A 58.6% 2022E 62.7% 2023E STRATEGY 1. PREMIUMIZE 2. OPTIMIZE PORTFOLIO MIX 3. OPTIMIZE CHANNEL MIX 4. OPERATIONAL EFFICIENCY 86

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