Waldencast SPAC

Expand our OBAGI Medical® business model internationally $3B market¹ • High consumer focus on beauty and aesthetics • High brand awareness amongst physicians • Low level of competition • In the largest dermatologic conference in the US, the second highest international attendees came from Brazil (10.5%) Source: Company information, American Academy of Dermatology. ¹ Euromonitor International; Beauty & Personal Care, 2022ed, retail value sales, current prices, 2021 fixed ex rates. Market size represents 2021E. Maintain License 4 . ● $25B market¹ Skincare focused markets Established network of physicians Accelerate White space 45

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