Partnership with GO-TO and Equity Raising Presentation

BWX GO-TO Highly strategic, complementary partnership Fo-ro FACE HERO Simple, trusted and efficacious skin care brand Leading, best-in-class skin care essentials in the masstige market Significant brand equity Loyal customer following with attractive unit economics Genuine partnership structure Independent, founder-led management team, leveraging BWX's complementary capabilities Attractive financial returns Mid-single digit EPS¹ accretive on a FY21 pro-forma basis (pre-synergies) and double digit EPS accretive on a FY21 pro-forma basis (post-potential synergies) Strong synergy potential Improvement to COGS, international distribution and scale benefits Significant expected acceleration of BWX's BWX strategy The Natural Beauty Enhanced DTC channels, complementary and Wellness product portfolio and expansion into masstige market Company STRICTLY CONFIDENTIAL Notes: 1. Presented post-AASB 16, on an underlying basis for BWX. Before amortisation of acquired intangibles, one-off implementation costs of synergies and one-off transaction costs. The impact of purchase price accounting has not been completed and which will impact future amortisation charges. The FY21 EPS calculation excludes certain items recorded in BWX reported NPAT which are considered non recurring, such as the acquisition related benefit of $6.9m, other non-recurring gains and expenses and the impact of the SPP. The impact of tax on these items has not been included in the EPS calculations. 18

View entire presentation