Investor Presentaiton

Income (loss) from Operations Excluding Certain Non-cash Charges Three Months Ended September 30, 2020 2019 Nine Months Ended September 30, 2020 2019 ($ in millions) $21.5 $6.9 $0.6 $(7.9) Income (loss) from operations as reported Excluded non-cash charges: Goodwill and other impairments 9.7 20.1 9.7 Bad debt reserve(1) 2.8 SKU Rationalization - - 8.5 Total excluded non-cash charges 9.7 22.9 18.2 Income from operations excluding certain non-cash charges $21.5 $16.6 $23.5 $10.3 (1)) Bad debt reserve recorded in the first quarter of fiscal 2020 to establish a provision against potential credit problems from certain retail customers who may have financial difficulty that has been caused or increased due to the COVID- 19 pandemic. This reflects the Company's assessment of risk of not being able to collect such receivables from certain customers in the U.S. that are at risk of seeking or have already obtained bankruptcy protection and our international customer base which has a higher proportion of small and independent brick-and-mortar retailers. This charge was taken in response to the Company's assessment on the impact of the COVID-19 pandemic on these accounts. LifetimeBrands 43

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