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Ulta Beauty Investor Day Presentation Deck

Shifting Beauty Consumer Buying Patterns Favor ULTA . i CAGR Consumers Continue to Demonstrate a Preference for the Specialty Store Experience vs. Department Stores Specialty Stores Displaying Fastest Channel Growth and Smallest Market Share Ulta Gaining Market Share 8% 10% Specialty Stores 7.9% 16% Beauty Sales by Channel 2003 2008 14% Department Stores (0.5%) 17% 18% Drug Stores Source: Kline & Co. (Data excludes services), manufacturer sales by beauty channel. 3.4% 31% 31% ULTA BEAUTY Mass Merchandisers 2.4% 28% 27% Other 1.9% 7

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