Waldencast SPAC Presentation Deck

Growth-Oriented Business Model Identify and create high potential brands that we can leverage and scale through our platform Allocate capital across organic and inorganic opportunities with strong internal product and brand development capabilities Waldencast Culture Rooted in performance, ownership and entrepreneurship and our dreamer/maker values - ambition with humility, idealism with practicality, grit with kindness, and vision with action MW wwaldencast GROWTH AND PROFITABILITY OPERATING MODEL Brand-Led Independence Ensures proximity to customers, business agility, and market responsiveness Drives entrepreneurial spirit and ownership mindset of our brand operators Beauty and Wellness Pure- Player Deep and broad expertise in the industry, resulting in excellence across every link in the value chain Asset Light Modularity Leveraging external open development and R&D partnerships, supply chain solutions, and modular cloud technology Conscious Entrepreneurship Supporting the beauty and wellness industry by prioritizing core values of sustainability, inclusivity, and social responsibility Intelligent Synergies Consolidate support functions where there is no advantage to executing at brand-level Combines the strength of a multi-brand platform while respecting the identities and autonomy of individual brands Balanced Business Portfolio Across categories, geographies, price points and commercialization models Delivering consistent growth across a portfolio designed to withstand economic and category shifts 10

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