Waldencast SPAC Presentation Deck

OUR AMBITION IS TO BUILD THE TOP GLOBAL MAKE-UP BRAND OF THE NEW GENERATION 292 GROW CONSUMER BASE Drive awareness and trial ■ Reinvest operational efficiencies in increased marketing spend and leverage current ecosystem to drive awareness, trial and topline growth ■Broaden brand footprint to recruit millennials and build on Gen-Z strength Milk BRAND EXPANSION Expand make-up assortment, enter new categories -1,300 of 2,900+ shpi ■ Accelerate product innovation and build on hero products to create category champions with global resonance ■ Evolve mix to higher margin products and expand into other categories n.com y 12. Noday ■ Continue to develop skincare presence + -200 of 6,200+ Se INTERNATIONALIZE Build global brand availability ■ Strengthen and maximize Sephora ecosystem ■ Expand to key remaining markets ■ Develop highly efficient international D2C model Expansion Opt ~W V WALDENCAST PLATFORM Leverage data-driven asset light Waldencast platform ■ Improve gross margins through operational efficiency in sourcing, forecasting, and COGS negotiation ■ Leverage Waldencast's intelligent synergies in supply chain, finance, IT, etc. 32

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