E.L.F. Beauty, Inc.

Liquidity As of June 30, 2025, the Company had $170.0 million in cash and cash equivalents and $256.7 million of long-term debt, as compared to $109.0 million in cash and cash equivalents and $262.2 million of total debt outstanding as of June 30, 2024.

SEC original ↗E.L.F. Beauty, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Fifth Amendment, among other things, established a term loan facility in an aggregate principal amount of $600.0 million (the Term Facility ), made customary changes in connection with adding a term loan facility, increased the maximum permitted consolidated total net leverage ratio financial covenant and increased the interest rate margin for loans under the Company s existing revolving line of credit.

SEC original ↗E.L.F. Beauty, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

The Amended Credit Agreement has a five year term and consists of a $ 100.0 million revolving credit facility (the Amended Revolving Credit Facility ) and a $ 100.0 million term loan facility.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

16 Table of Contents The Amended Credit Agreement contains a number of covenants that, among other things and subject to certain exceptions, restrict the Company s ability to pay dividends and distributions or repurchase capital stock, incur additional indebtedness, create liens on assets, engage in mergers or consolidations and sell or otherwise dispose of assets.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Pursuant to the Second Amendment, the Company borrowed incremental term loans in an aggregate original principal amount of $ 115.0 million under the Amended Credit Agreement (the Incremental Term Loan ).

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

The Company used the Incremental Term Loan, together with cash from its balance sheet and additional borrowings under its Amended Revolving Credit Facility, to consummate the acquisition of Naturium and to pay related fees and expenses in connection with the acquisition of Naturium and Second Amendment.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

We may not be able to successfully implement our growth strategy.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

These inputs are prioritized below: Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

The marketing and consumer engagement benefits that the direct-to-consumer channel provides are integral to the Company s brand and product development strategy and drive sales across channels.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

The rhode Acquisition is built upon both brands' shared focus on disruption, community connection and product innovation, and furthers the Company s penetration within skin care.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Gross margin decreased approximately 215 basis points to 69%, primarily driven by tariffs, partially offset by favorable foreign exchange impacts and mix.

SEC original ↗E.L.F. Beauty, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

Fiscal 2026 Outlook Due to the wide range of potential outcomes related to tariffs, the Company is not providing a full year Fiscal 2026 financial outlook at this time.

SEC original ↗E.L.F. Beauty, Inc. — Earnings release (8-K exhibit)EX-99Aug 6, 2025

These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about our business and the industry in which we operate and management s beliefs and assumptions and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

SUMMARY OF MATERIAL RISKS ASSOCIATED WITH OUR BUSINESS The principal risks and uncertainties affecting our business include the following: The beauty industry is highly competitive, and if we are unable to compete effectively our results will suffer.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Any damage to our reputation or brands may materially and adversely affect our business, financial condition and results of operations.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026

Changes in the US and international trade policies, including tariffs (and uncertainty related to the enforceability and implementation thereof), trade restrictions and retaliatory trade measures taken by other countries and resulting trade wars may have a material adverse impact on our business, financial condition and results of operations.

SEC original ↗E.L.F. Beauty, Inc. — 10-Q Quarterly report10-QAug 6, 2026