Waldencast 2Q22 Investor Results

US Premium Beauty showing consistent growth and resilience YTD BEAUTY +17.3% Q2 BEAUTY +15.9% Source: NPD US June 2022 YTD MAKE UP +20.0% Q2 MAKE UP +18.5% Women are gradually returning to their previous makeup habits. About 70% reported going back to previous routines or wearing more makeup than they used to. YTD SKIN CARE +11.6% Q2 SKIN CARE +12.3% Growth of skincare driven by premiumization. Bolstered by rise of "skintellectual" consumers increasingly focused on product potency and efficacy 7

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