T H I R D Q U A R T E R F Y 2 6 R E S U L T S Safe Harbor Disclosure This presentation contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding the Company’s expected financial performance, including revenues, organic revenue growth, adjusted diluted EPS, and free cash flow; the Company’s ability to execute on its brand-building strategy to drive organic growth; the Company’s ability to maximize shareholder value and accelerate earnings growth; the Company’s capital allocation strategy and optionality; the impact of the Pillar5 acquisition, including on the supply of Clear Eyes® and related production investments; the Company’s ability to expand its Clear Eyes® SKUs, rebuild Eye Care retailer and safety stock, and reaccelerate Clear Eyes® distribution; and the Company’s pursuit of M&A and ability to delever. Words such as “anticipate,” “continue,” “expect,” “enable,” “outlook,” “can,” “will,” “may,” “should,” “could,” “would,” and similar expressions identify forward-looking statements. Such forward-looking statements represent the Company’s expectations and beliefs and involve a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include, among others, the ability to rapidly increase the supply of Clear Eyes from Pillar5 and other suppliers; the ability of the Company’s manufacturing operations and third party manufacturers and logistics providers and suppliers to meet demand for its other products and to avoid inflationary cost increases and supply disruption; the impact of economic and business conditions; consumer trends; competitive pressures; the impact of the Company’s advertising and promotional and new product development initiatives; customer inventory management initiatives; the ability to pass along rising costs to customers without impacting sales; fluctuating foreign exchange rates; evolving U.S. and international tariffs; and other risks set forth in Part I, Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K for the year ended March 31, 2025. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this presentation. Except to the extent required by applicable law, the Company undertakes no obligation to update any forward-looking statement contained in this presentation, whether as a result of new information, future events, or otherwise. All adjusted GAAP numbers presented are footnoted and reconciled to their closest GAAP measurement in the attached reconciliation schedule and in our February 5, 2026 earnings release in the “About Non-GAAP Financial Measures” section.
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Agenda for Today’s Discussion I. Performance Update II. Financial Overview III. FY 26 Outlook 3
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Q3 FY 26 Performance Update ◼ Quarterly Revenue of $283.4 million, better than forecast ◼ Clear Eyes® supply improved sequentially for the second quarter in a row ◼ Benefits of broad distribution helped offset volatile consumer environment ◼ Gross Margin of 55.5%, as expected and flat to prior year ◼ Adjusted Diluted EPS(2) of $1.14 vs. $1.22 prior year, as expected ◼ Strong Free Cash Flow(2) year to date of $209 million, up 13% vs. prior year ◼ Low leverage of 2.6x(3) continues to enable capital allocation optionality ◼ Opportunistic share repurchases in Q3 of approximately $46 million ◼ Closed Pillar5 acquisition in December, as expected Q3 FY 26 Sales Drivers Disciplined Capital Allocation Superior Earnings and FCF 5
T H I R D Q U A R T E R F Y 2 6 R E S U L T S 6 Continued Line of Sight Into Eye Care Recovery Eye Care Strategic Actions Executed Strategic Priorities for Calendar 2026 Added two additional 3rd party suppliers in Q1 and Q3, respectively, providing substantial supply Closed strategic acquisition of eye care partner Pillar5 on December 18th Majority of Clear Eyes® supply sourced internally moving forward, enabling improved line of sight Well Positioned to Drive Further Sequential Eye Care Supply Gains Moving Forward ◼ Invest to accelerate Pillar5 production capacity, particularly on new high-speed line ◼ Re-expand SKU assortment ◼ Gradually rebuild retailer & PBH safety stocks ◼ Reaccelerate distribution through supply confidence and robust marketing
T H I R D Q U A R T E R F Y 2 6 R E S U L T S $283.4 $90.9 $1.14 $290.3 $98.5 $1.22 Revenue Adjusted EBITDA Adj. Diluted EPS Q3 FY 26 Performance Highlights Q3 FY 26 Q3 FY 25 Dollar values in millions, except per share data. (2.4%) (7.7%) (6.6%) Revenue of $283.4 million, down 2.2% vs. prior year excluding foreign currency(1) Adjusted Diluted EPS(2) of $1.14 down 6.6% vs. prior year Adjusted EBITDA(2) of $90.9 million vs. $98.5 million prior year 8 (2) (2)
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Q3 FY 26 Q3 FY 25 % Chg YTD FY 26 YTD FY 25 % Chg Total Revenue 283.4$ 290.3$ (2.4%) 807.1$ 841.2$ (4.1%) Gross Profit 157.4 161.0 (2.3%) 449.3 464.5 (3.3%) % Margin 55.5% 55.5% 55.7% 55.2% A&M 40.1 37.9 5.6% 113.7 118.7 (4.2%) % Total Revenue 14.1% 13.1% 14.1% 14.1% Adj. G&A (2) 29.2 26.2 11.5% 85.7 81.2 5.6% % Total Revenue 10.3% 9.0% 10.6% 9.6% D&A (ex. COGS D&A) 5.1 5.0 3.8% 15.5 16.2 (4.5%) Operating Income 83.0$ 92.0$ (9.8%) 234.4$ 248.3$ (5.6%) % Margin 29.3% 31.7% 29.0% 29.5% Adj. Earnings Per Share (2) 1.14$ 1.22$ (6.6%) 3.16$ 3.20$ (1.3%) Adj. EBITDA (2) 90.9$ 98.5$ (7.7%) 257.4$ 270.0$ (4.7%) % Margin 32.1% 33.9% 31.9% 32.1% 3 Months Ended YTD Comments FY 26 Third Quarter and YTD Consolidated Financial Summary ◼ Organic Revenue(1) down 3.9% vs. prior year – Sales declines due to eye care supply constraints – Strong sales growth in eCommerce – International segment increased 4% excluding eye care supply constraints* and foreign currency ◼ Gross Margin of 55.7%, as expected ◼ A&M of 14.1% of Revenue ◼ Adjusted G&A of 10.6% of Revenue ◼ Adjusted Diluted EPS(2) down vs. prior year due to lower sales and expense timing Dollar values in millions, except per share data; 9 9 Months Ended * Excluding International OTC Eye & Ear category sales
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Free Cash Flow(2) Comments ◼ Total YTD Free Cash Flow(2) of $208.8 million up 13% vs. prior year – Full-year free cash flow outlook(5) of $245 million or more unchanged – Strong business attributes continue to drive Free Cash Flow ◼ Net Debt at December 31 of $1.0 billion(2); leverage ratio(3) of 2.6x at end of Q3 ◼ Closed Pillar5 acquisition in December, as expected ◼ Repurchased ~ 2.3 million shares YTD for ~ $155 million, $46 million of which was in Q3 Industry Leading Free Cash Flow Trends Dollar values in millions 10 $75.3 $208.8 $63.5 $184.9 Free Cash Flow Free Cash Flow Q3 FY 26 Q3 FY 25 YTD FY 26 YTD FY 25
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Disciplined Capital Allocation at Work 11 $35 $75 $46 $155 6% 8% 8% 7% Q1 Q2 Q3 YTD Shares Repurchased FCF Yield LTM Peer Avg. FCF Yield Invest in Current Brands to Drive Organic Growth Pursue M&A That is Attractive to Shareholders Ample Capacity to Pursue Brands & Portfolios of Scale Strategic Share Repurchases Balanced Share Repurchases Against Other Priorities Further Net Deleveraging to Enhance Optionality Near-term Cash Build to Enhance Future Capital Flexibility 1 2 3 4 ~5% of Shares Outstanding Repurchased FYTD Dollar values in millions; YTD figure does not add due to rounding Note: FCF defined as CFO less CapEx; Peer group includes CHD, CL, PG, HLN, UL, EPC, CLX, PRGO, RKT, KVUE
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Updated FY 26 Outlook ◼ Benefitting from well-diversified portfolio and brand-building playbook ◼ Revenues of approximately $1,100 — Expected organic revenue down approximately 3.0% — Anticipate improvement in Clear Eyes® shipments sequentially in Q4 ◼ Adjusted Diluted EPS(4) of approximately $4.54 ◼ Anticipate earnings growth to reaccelerate as revenue improves ◼ Free Cash Flow(5) of $245 million or more unchanged ◼ Capital allocation decisions focused on maximizing shareholder value Top Line Trends Free Cash Flow & Allocation EPS 13
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Appendix (1) Organic Revenue is a Non-GAAP financial measure and is reconciled to the most closely related GAAP financial measures in the attached Reconciliation Schedules and / or our earnings release dated February 5, 2026 in the “About Non-GAAP Financial Measures” section. (2) EBITDA & EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin, Adjusted Diluted EPS, Adjusted G&A, Free Cash Flow, and Net Debt are Non-GAAP financial measures and are reconciled to their most closely related GAAP financial measures in the attached Reconciliation Schedules and / or in our earnings release dated February 5, 2026 in the “About Non GAAP Financial Measures” section. (3) Leverage ratio reflects covenant defined Net Debt / EBITDA. (4) Adjusted Diluted EPS for FY 26 is a projected Non-GAAP financial measure, is reconciled to projected GAAP Diluted EPS in the attached Reconciliation Schedules and/or in our earnings release dated February 5, 2026 in the “About Non-GAAP Financial Measures” section and is calculated based on projected GAAP Diluted EPS adjusted for certain discrete tax items. The Company anticipates certain additional non-GAAP expense adjustments related to the acquisition of Pillar5, such as integration and transition expenses, but does not provide a reconciliation of this measure to the closest GAAP measure because it cannot quantify these amounts without unreasonable effort due to the unknown magnitude and probable significance of the unavailable information. (5) Free Cash Flow for FY 26 is a projected Non-GAAP financial measure, is reconciled to projected GAAP Net Cash Provided by Operating Activities in the attached Reconciliation Schedules and / or in our earnings release dated February 5, 2026 in the “About Non-GAAP Financial Measures” section and is calculated based on projected Net Cash Provided by Operating Activities less projected capital expenditures. 15
T H I R D Q U A R T E R F Y 2 6 R E S U L T S 16 Reconciliation Schedules Organic Revenue Change Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 (In Thousands) GAAP Total Revenues 283,444$ 290,317$ 807,088$ 841,244$ Revenue Change (2.4%) (4.1%) Adjustments: Impact of foreign currency exchange rates - (534) - (1,574) Total adjustments -$ (534)$ -$ (1,574)$ Non-GAAP Organic Revenues 283,444$ 289,783$ 807,088$ 839,670$ Non-GAAP Organic Revenue Change (2.2%) (3.9%)
T H I R D Q U A R T E R F Y 2 6 R E S U L T S 17 Reconciliation Schedules (continued) EBITDA and EBITDA Margin Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 (In Thousands) GAAP Net Income 46,696$ 61,032$ 136,373$ 164,477$ Interest expense, net 10,672 11,455 30,911 36,873 Provision for income taxes 15,118 19,122 56,351 45,753 Depreciation and amortization 7,592 6,868 22,921 22,921 Non-GAAP EBITDA 80,078$ 98,477$ 246,556$ 270,024$ Non-GAAP EBITDA Margin 28.3% 33.9% 30.5% 32.1% Adjustments: Acquisition Costs in G&A (a) 472 - 472 - Supplier Loan Write-off 10,332 - 10,332 - Total adjustments 10,804 - 10,804 - Non-GAAP Adjusted EBITDA 90,882$ 98,477$ 257,360$ 270,024$ Non-GAAP Adjusted EBITDA Margin 32.1% 33.9% 31.9% 32.1% (a) Costs related to the consummation of the acquisition process such as legal and other acquisition-related professional fees. Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 (In thousands) GAAP General and Administrative Expense 29,674$ 26,182$ 86,167$ 81,159$ GAAP General and Administrative Expense as a Percentage of GAAP Total Revenue 10.5% 9.0% 10.7% 9.6% Adjustments: Costs associated with acquisition (a) 472 — 472 — Total adjustments 472 — 472 — Non-GAAP Adjusted General and Administrative Expense 29,202$ 26,182$ 85,695$ 81,159$ Non-GAAP Adjusted General and Administrative Expense Percentage as a Percentage of GAAP Total Revenues 10.3% 9.0% 10.6% 9.6% General & Administrative
T H I R D Q U A R T E R F Y 2 6 R E S U L T S 18 Reconciliation Schedules (continued) Adjusted Diluted EPS (a) Costs related to the consummation of the acquisition process such as legal and other acquisition-related professional fees. (b) The income tax adjustments are determined using applicable rates in the taxing jurisdictions in which the above adjustments relate and includes both current and deferred income tax expense (benefit) based on the specific nature of the specific Non- GAAP performance measure. (c) Income tax adjustment to adjust for discrete income tax items. Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 Net Income Adjusted EPS Net Income Adjusted EPS Net Income Adjusted EPS Net Income Adjusted EPS (In Thousands, except per share data) GAAP Net Income and Diluted EPS 46,696$ 0.97$ 61,032$ 1.22$ 136,373$ 2.78$ 164,477$ 3.28$ Adjustments: Supplier Loan Write-off 10,332 0.21 - - 10,332 0.21 - - Costs associated with Acquisition in General and Administrative Expense (a) 472 0.01 - - 472 0.01 - - Tax Impact of adjustments (b) (2,642) (0.05) - - (2,642) (0.05) - - Normalized tax rate adjustment (c) - - - - 10,261 0.21 (4,030) (0.08) Total Adjustments 8,162 0.17 - - 18,423 0.38 (4,030) (0.08) Non-GAAP Adjusted Net Income and Adjusted Diluted EPS 54,858$ 1.14$ 61,032$ 1.22$ 154,796$ 3.16$ 160,447$ 3.20$ Projected Adjusted Diluted EPS Projected FY'26 GAAP Diluted EPS 4.16$ Adjustments: Supplier Loan Write-off 0.21 Costs associated with Acquisition in General and Administrative Expense (a) 0.01 Tax Impact of adjustments (b) (0.05) Normalized tax rate adjustment (c) 0.21 Projected FY'26 Non-GAAP Adjusted Diluted EPS 4.54$
T H I R D Q U A R T E R F Y 2 6 R E S U L T S Projected Free Cash Flow 19 Reconciliation Schedules (continued) (in millions) Projected FY'26 GAAP Net cash provided by operating activities 255$ Additions to property and equipment for cash (10) Projected FY'26 Non-GAAP Free Cash Flow 245$ Free Cash Flow Three Months Ended December 31, Nine Months Ended December 31, 2025 2024 2025 2024 (In Thousands) GAAP Net Income 46,696$ 61,032$ 136,373$ 164,477$ Adjustments: Adjustments to reconcile net income to net cash provided by operating activities as shown in the Statement of Cash Flows 26,656 14,973 75,544 45,344 Changes in operating assets and liabilities as shown in the Statement of Cash Flows 4,935 (10,914) 2,869 (20,154) Total adjustments 31,591 4,059 78,413 25,190 GAAP Net cash provided by operating activities 78,287 65,091 214,786 189,667 Purchases of property and equipment (3,028) (1,566) (5,968) (4,745) Non-GAAP Free Cash Flow 75,259$ 63,525$ 208,818$ 184,922$
