Hims & Hers Health, Inc.

Some of the limitations of Adjusted EBITDA include (i) Adjusted EBITDA does not properly reflect capital commitments to be paid in the future, and (ii) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and Adjusted EBITDA does not reflect these capital expenditures.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

Some of the limitations of Free Cash Flow include (i) Free Cash Flow does not represent our residual cash flow for discretionary expenditures and our non-discretionary commitments, and (ii) Free Cash Flow includes capital expenditures, the benefits of which may be realized in periods subsequent to those in which the expenditures took place.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

Convertible Notes The Company has issued the 2030 Convertible Notes and the 2032 Convertible Notes (each as defined in Note 13 Debt and collectively referred to as the Convertible Notes ) which are recorded at their carrying values on the unaudited condensed consolidated balance sheets.

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026

Amortization of debt discount and issuance costs, along with contractual interest expense, if any, is recorded over the term of the Convertible Notes 8 Table of Contents using the effective interest method.

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026

The dilutive effect is calculated under the if-converted method whereby the numerator is adjusted to add back the amortization of debt discount and issuance costs and the denominator is adjusted to add the gross number of Class A common stock shares issuable upon conversion as if converted at the beginning of the period (or at the time of issuance, if later).

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026

Capped Calls The Company has entered into the 2030 Capped Calls and the 2032 Capped Calls (each as defined in Note 13 Debt and collectively referred to as the Capped Calls ) in connection with the issuances of the Convertible Notes.

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026

In the first quarter, we made a strategic pivot that expanded our assortment of branded GLP-1 products, and early demand signals show our consumer reach broadening meaningfully, said Yemi Okupe, Chief Financial Officer.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

These forward-looking statements can be identified by the use of forward-looking terminology, including the words believes, estimates, anticipates, expects, intends, plans, assumes, may, will, likely, potential, projects, predicts, continue, goal, strategy, future, forecast, target, outlook, opportunity, confidence, foundation, groundwork, or should, or, in each case, their negative or other variations or comparable terminology.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

In the first quarter of 2026, we announced a strategic shift for our United States weight loss offering ( 2026 US WL Announcement ).

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

In connection with the strategic shift, we revised our definition of Adjusted EBITDA to include restructuring and other related charges that are considered non-recurring, as we believe these costs are distinguishable from ongoing operating costs and do not reflect current or expected performance of our ongoing operations.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

The Company determines its operating segments based on how the chief operating decision maker ( CODM ) makes decisions regarding the allocation of resources and operational strategy, assesses performance, and manages the organization at a consolidated level.

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026

Hims Hers normalizes health wellness challenges and innovates on their solutions to make feeling happy and healthy easy to achieve.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

These risks and uncertainties include, but are not limited to, those factors described in the Risk Factors and other sections of our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and other current and periodic reports we file from time to time with the Securities and Exchange Commission (the Commission ).

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.

SEC original ↗Hims & Hers Health, Inc. — Earnings release (8-K exhibit)EX-99May 11, 2026

Legal Proceedings 57 Item 1A.

SEC original ↗Hims & Hers Health, Inc. — 10-Q Quarterly report10-QAug 10, 2026