INVESTOR PRESENTATION

JANUARY 2025

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DISCLOSURES

FORWARD LOOKING STATEMENTS

This presentation contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position; business strategy; the market growth for our product; our ability to meet our goals related to the market position of our product and product candidates; the potential market acceptance, demand market size, adoption rate, revenue expectations, future results of our product, product candidates and related loyalty programs, and timing and results of the company's clinical programs, regulatory programs and product approvals, the potential performance profile of any product candidate, are forward-looking statements. Forward-looking statements are based on current estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Other factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include uncertainties associated with the success of the launch of Jeuveau® and Evolysse, customer and consumer adoption of our products, competition and market dynamics, the effects of economic conditions on consumer discretionary spend, the efficiency and operability of our digital platform, the ability to successfully complete clinical programs, make regulatory filings and achieve FDA approval for Evolysse , and our ability to maintain regulatory approval of Jeuveau® and other risks described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 that was filed with the Securities and Exchange Commission and any subsequent filings, each of which is available online at www.sec.gov.

Additionally, the preliminary estimates of unaudited financial results as of and for the quarter and year ended December 31, 2024 are forward-looking statements and may differ materially from actual results. These estimates should not be viewed as a substitute for full interim or annual financial statements prepared in accordance with GAAP. Accordingly, you should not place undue reliance on this preliminary information. The preliminary financial information has been prepared by, and is the responsibility of, the company's management

All written and verbal forward-looking statements attributable to our Company or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. We may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements, and you should not place undue reliance on the forward-looking statements. The forward- looking statements in this presentation represent our views as of the date of this presentation. We anticipate that subsequent events and developments will cause our views to change. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances, or otherwise. You should, therefore, not rely on these forward-lookingstatements as representing our views as of any date subsequent to the date of this presentation.

ADDITIONAL INFORMATION

Certain of the industry, statistical and market data in this presentation was obtained from our own internal estimates and research as well as from industry and general publications and research, surveys and studies conducted by third parties. All of the market data used in this presentation involves a number of assumptions and limitations. While we believe that the information from these industry publications, surveys and studies is reliable, the industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of important factors, which could cause results to differ materially from those expressed in the estimates made by third parties and by us. This presentation is intended for U.S. investors.

Evolus®, Jeuveau®, Nuceiva®, Evolux® and Evolysse are five of our trademarks that are used in this presentation. All other trademarks and tradenames are the property of their respective owners. While our botulinum toxin and Hyaluronic Acid (HA) gels have differing names outside the United States, for convenience, we refer to our botulinum toxin product as Jeuveau® and our HA gels product line as Evolysse throughout this presentation. Evolysse is not approved by the U.S. FDA and is subject to an investigational device exemption for certain injectable hyaluronic acid gels.

NON-GAAP FINANCIAL INFORMATION

Our financial results are prepared in accordance with Generally Accepted Accounting Principles ("GAAP"). This presentation includes non-GAAP financial measures. More information on the non-GAAP measures are located at the end of this presentation. These non-GAAP financial measures should not be considered as an alternative to GAAP financial measures.

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OUR PURPOSE

TO MAKE THEIR BEAUTY EXPERIENCE DELIGHTFUL AND ACHIEVABLE

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A COMPELLING INVESTMENT OPPORTUNITY

UNDERPENETRATED AESTHETICS MARKET

Total addressable market

Fully funded to

EXPANDS BY 78%

PROFITABILITY**

with addition of injectable HA gel portfolio*

Building a brand focused on the

YOUNGER DEMOGRAPHIC

GAINING MARKET SHARE IN THE U.S.

while expanding internationally

UNIQUE CASH-PAY

BUSINESS MODEL

powered by strong digital capabilities

  • Source: Medical Insight, Inc. Cosmetic Neurotoxin Market Study, Jan. 2023, Medical Insights Dermal Filler Market Study, Mar. 2023 (www.miinews.com), BCG Aesthetic Research presented at IMCAS 2023 & company estimates.

** Within this presentation, "profitability" is defined as achieving positive non-GAAP operating income. Please refer to "non-GAAP information" at the end of this presentation

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GROWING OUR PRESENCE IN

LARGE & UNDERPENETRATED MARKETS-TOXINS

EVOLUS IS CONTINUING TO GAIN SHARE

IN THE FAST-GROWING NEUROTOXIN MARKET

14%

12%

10%

8%

6%

4%

2%

0%

JEUVEAU SHARE OF TOXIN MARKET

OVER THE LAST FEW YEARS*

13%

11%

9%

7% 7%

4%

2019

2020

2021

2022

2023

2024**

* Market share (U.S.) is a company estimate.

** Based on YTD number.

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EXPANDING AND GROWING GLOBAL ADDRESSABLE MARKET

GROWING TO $10B IN 2028

~$10.0B

FILLERS

NEUROTOXINS

$4.0B

$6.0B

$2.5B

$3.7B

$1.8B

$6.0B

$3.5B

$1.9B

2019

2023

2028

13%

10%

CAGR

CAGR

Note: Evolysse is licensed in the U.S. only and is not currently available for sale.

Note: Estyme is licensed in the UK and Europe. Not currently available for sale.

Sources: Medical Insight, Inc.: The Global Aesthetic Market Study-January 2024 (US)

Clarivate | DRG: Aesthetic Injectables Market Insights North America 2024-October 2023 (Canada)

Clarivate | DRG: Aesthetic Injectables Market Insights Europe 2024-June 2023 (Europe)

Clarivate | DRG: Aesthetic Injectables Market Insights Asia Pacific 2024-December 2023 (Australia)

EVOLUS INTERNATIONAL EXPECTED TO ACHIEVE $100M IN 2028

  • Uniquely positioned in Europe as one of five companies with a portfolio of neurotoxins and injectable HA gels
  • The combination of toxin and filler doubles the addressable market to $1.8 billion
  1. We currently operate in seven markets outside the United States with Nuceiva®, representing 80% of the total addressable market
  1. Received approval for Estyme® hyaluronic acid (HA) gels in the European Union; experience program to launch immediately with full launch expected in the second half of 2025

$0.3B

$0.3B

$0.2B

$0.2B

$0.2B

$0.2B

LAUNCHED

NOT LAUNCHED

~$3.0B

$0.5B

$1.8B

$0.3B

$2.4B

$1.5B

Note: For toxin, Evolus International includes UK, Europe, Australia,

Sources:

Medical Insight, Inc.: The Global Aesthetic Market Study-January 2024 (US)

and Canada; For injectable HA gels, Evolus International includes UK

Clarivate | DRG: Aesthetic Injectables Market Insights North America 2024-October 2023 (Canada)

and Europe.

Clarivate | DRG: Aesthetic Injectables Market Insights Europe 2024-June 2023 (Europe)

Clarivate | DRG: Aesthetic Injectables Market Insights Asia Pacific 2024-December 2023 (Australia)

20232028

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STRONG HISTORICAL

REVENUE GROWTH

VASTLY OUTPACING THE MARKET AS WE EXCEED 30% REVENUE GROWTH FOR THE FIFTH CONSECUTIVE YEAR

44%

CAGR

+31%

+32%

+36%

+49%

$345M-

$355M**

+76%

$266.3M*

$202.1M

$148.6M

$99.7M

$56.5M

2020

2021

2022

2023

2024

2025

* Based on Preliminary Unaudited 2024 Results announced on January 21, 2025

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** Company guidance as of January 21, 2025

A UNIQUE BUSINESS STRATEGY

1 beauty company

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TRANSFORMING THE INDUSTRY

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• Executing a performance beauty strategy

STRATEGIC ADVANTAGE

• First cash-pay, aesthetics-only performance

3 CONSUMER FOCUS: MILLENNIALS

• The largest demographic

• The industry growth driver

• Beauty treatment vs. medical procedure

CUSTOMER SUCCESS

  • Investing in customer growth
  • Only aesthetics company to offer co-branded marketing

CHALLENGER BRAND

  • Digitally savvy: a powerful, cost-effective & scalable platform
    o Streamlined customer interaction o Growing consumer loyalty program

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Disclaimer

Evolus Inc. published this content on January 21, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 22, 2025 at 01:19:01.261.