European Wax Center : 2022 ESG Report

2022 ESG REPORT

Our efforts to build a more confident, inclusive and sustainable community

2022 ESG Report - 1

Table of Contents

INTRODUCTION

Letter From CEO David Berg	3
About European Wax Center	4
Our Approach to ESG	5
Stakeholder Engagement and	6
ESG Materiality
About This Report	7

OUR PEOPLE

Diversity, Equity and Inclusion	9
Workforce Development	13
Associate Engagement	14
Associate Wellness	15

OUR GUESTS

A Superior Guest Experience	17
Health and Safety	18
Listening to Our Guests	19
Our Products	20
Serving Every Body	21

OUR COMMUNITIES

Our Franchisees	23
EWC Gives Back: Philanthropy in Action	24
Building a Strong Supplier Community	25

OUR ENVIRONMENT

Assessing Our Environmental Impact	27
Sustainability Efforts	28

OUR COMPANY

Corporate Governance and ESG
Oversight	31
Business Ethics and Transparency	32
Risk Management	32
Data Privacy and Security	33
Centers and Facilities	34
Vendor and Supply Chain Management	34

APPENDIX

SASB Index

36

INTRODUCTION

OUR PEOPLE

OUR GUESTS

OUR COMMUNITIES

OUR ENVIRONMENT

OUR COMPANY

APPENDIX

CEO Letter I About European Wax Center I Our Approach to ESG I Stakeholder Engagement and ESG Materiality I About This Report

Letter From CEO David Berg

Our category-defining brand was founded nearly 20 years ago to achieve several important goals: professionalizing out-of-home waxing services, creating a best-in-class guest experience and helping our guests feel unapologetically confident.

A relentless focus on our core values drives our strategic pursuit of sustainable business practices that deliver value for all stakeholders. Our inaugural ESG Report reflects our dedication to doing the right thing and marks a significant milestone in our ESG journey. Together, we will continue accelerating toward a better,

As we have grown from a single location in South Florida to more than 1,000 centers across the U.S., our focus on those essential deliverables has always been informed by our core values:

• We do the right thing
• We care about each other
• We delight our guests
• We have fun while being awesome

These values are at the heart of everything we do. They guide how we support our world-class associates, care for our loyal guests and collaborate with our franchisees. And they serve as a north star in our efforts to be leaders in our communities, to conserve our environment and to provide strong stewardship of our Company and brand.

With the above in mind, I am thrilled to share our inaugural Environmental, Social and Governance (ESG) Report. There is so much we are proud of in these pages, including our progress in building an inclusive and safe workplace and our commitment to associate well-being. The report

details our trusted products, expert services and our philanthropy in service of the communities in which we operate. Also, we share how we approach our continued sustainability efforts and the thoughtful management and oversight of our corporate enterprise.

In addition to the specific initiatives detailed in this report, I am equally excited about what lies behind these initiatives. We've been doing much of this work for a long time, prior to "ESG" being part of our everyday vernacular. We've lived our core values and had the foresight and agility during our IPO process to organize this important work into a more formal and strategic pursuit under the oversight of our Board of Directors. We verified through a materiality assessment that this work aligns with what is important to our stakeholders and critical to our business success.

Perhaps most importantly, I could not be more pleased that we created and maintain a company culture in which this work is valued, respected and practiced. We are the best at what we do - in our centers and in our headquarters - and this report helps illustrate why.

more sustainable and inclusive future.

David P. Berg

Chief Executive Officer

Regardless of what kind of European Wax Center (EWC) stakeholder you are (and you may be more than one!), we have the right people hyper-focused on the right intentions and outcomes to deliver a thriving business for all. Thank you for your support!

Keep accelerating!

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INTRODUCTION

OUR PEOPLE

OUR GUESTS

OUR COMMUNITIES

OUR ENVIRONMENT

OUR COMPANY

APPENDIX

CEO Letter I About European Wax Center I Our Approach to ESG I Stakeholder Engagement and ESG Materiality I About This Report

About European Wax Center

Key 2022 Operating Highlights

FINANCIAL AND OPERATIONS RESULTS2

EWC is the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States. With more than 1,000 locations1 across 45 states, we provide a broad range of waxing services for all genders and body types, from full-body waxing to facial

Our Values

At EWC, our core values inform everything we do - from how we treat our guests to the ways in which we guide our business.

944		938		6
EWC locations		franchised centers		corporate-owned centers

hair and brow waxing. We also offer a curated line of skin- care and post-waxing treatments.

At EWC, our goal is to ensure that every guest who enters one of our centers walks out feeling confident. We operate at scale. In 2022, we delivered 22 million

We do the right thing		We delight our guests
We care about each other		We have fun while being awesome

91

net new centers opened in 2022

45

states with centers

~200

associates at our U.S.- based headquarters and corporate centers

waxing services across our franchisee network. We aim for every one of those services to be consistent, high- quality and exceptional - whether guests are visiting a European Wax Center down the street or across the country.

This dedication to the guest experience has driven our business since our inception in 2004 and remains our primary guiding principle as we continue to grow

ABOUT OUR FRANCHISEES

Today, we operate a franchise network of EWC locations. In the simplest of terms, this means that we provide others with an opportunity to operate a business using our name, with access to our systems of ideas, programs, products, methods and other intellectual property that is "European Wax Center." While we are one brand, EWC is a collection of individually owned and operated businesses. As the

$899M		$207M
in system-wide sales		in Company revenue

NOTABLE RECOGNITIONS

as a business and expand our footprint. We remain as committed as we were nearly 20 years ago to creating an environment where guests feel comfortable and confident. At the same time, we've taken bold steps to build a thriving business that is sustainable, safe, accessible and welcoming.

franchisor for EWC, we assist these individually owned and operated franchise businesses through training and other franchise support; however, these franchisees and their associates are not our employees, and therefore, we do not provide employment policies for their businesses.

Recognized on Entrepreneur's 2022 Franchise 500 Ranking

#1 in Waxing

#48 Overall

Named one of Entrepreneur's 2022 Top Growth Franchises

Our products were widely recognized throughout the beauty industry for their quality and efficacy through awards from multiple media outlets, including NewBeauty, Cosmopolitan and Men's Health.

1 As of publication of this report.	2022 ESG Report - 4
2 As of December 31, 2022.

INTRODUCTION

OUR PEOPLE

OUR GUESTS

OUR COMMUNITIES

OUR ENVIRONMENT

OUR COMPANY

APPENDIX

CEO Letter I About European Wax Center I Our Approach to ESG I Stakeholder Engagement and ESG Materiality I About This Report

Our Approach to ESG

Our values guide all that we do at EWC, and that includes our approach to managing ESG issues with the greatest significance to our business and stakeholders.

Our values shape who we are as a team, inspiring us to be the best version of ourselves and influencing our decisions and actions at work. They are not just

In 2021, we took steps to formalize our approach to ESG to make it a fundamental and intentional part of our business. We invested time and resources to identify the issues most important to our long-term business health and develop an ESG strategy to address such issues, creating internal programs to drive our efforts in these areas. We communicated these efforts and programs to our associates, guests, investors and the broader communities in which we operate for the first time through our 2022 ESG Fact Sheet. This inaugural report marks another key step in this important process.

As further detailed in this report, we focus on the ESG topics that are most relevant to our business and our mission, and where we have the expertise to drive positive outcomes.

For instance, our approach to diversity, equity and inclusion (DE&I) plays a major role in cultivating an environment where our guests and associates feel welcomed, valued and included. And our efforts to identify more sustainable and eco- friendly approaches to our product packaging are just some of the ways we're contributing to

a sustainable environment for our guests, our associates and our communities.

Our engagement on these ESG topics informs how we interact with our guests and deliver an exceptional experience, and the ways we support our associates in their career development. They also guide how our business operates, from governance structures and data security to our efforts to minimize our environmental impact.

words on paper. They are guiding us to make a positive impact in everything we do.

Aura De Biase

Vice President of Human Resources

Through the actions outlined in this report, we are working to achieve our goal of delivering an exceptional experience for guests, an engaging and supportive work experience for our associates, and a vibrant and thriving business for our stakeholders.

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