Risk Factors Update Summary

• Investors should consider increased competition in the beauty industry, particularly from companies responding better to changing conditions.
• Added risks of weak economic environments, high inflation, and uncertain consumer spending trends.
• Failure to maintain brand value could negatively impact financial condition. Investments may not increase brand recognition or revenues.
• Loss of manufacturers or shortages in supply could harm business, prospects, and financial condition.
• Failure to protect intellectual property rights globally may result in inadequate enforcement and harm business.
• Expanded risks include geopolitical conflicts, civil unrest, and supply chain disruptions.
• Enhanced risks from catastrophic events impacting supply chain and product component availability.
• Dependence on limited customers for a substantial portion of net sales could impact financial condition.
• Cybersecurity risks, including breaches and outages, could adversely affect operations, financial condition, and results.
• Legal proceedings, including class action lawsuits, could divert resources and negatively impact financial condition.
• Added potential negative impacts on brand and reputation due to evolving stakeholder expectations.
• Added uncertainties regarding lingering effects of past events on cash flow and operations.
• Increased risks related to the ability to identify suitable candidates and consummate transactions.
• Expanded risks related to maintaining effective internal controls and avoiding material weaknesses.