Prestige Consumer Healthcare : Q2 2024 Prestige Consumer Healthcare Inc. Earnings Conference Call Presentation

Second Quarter FY 2024 Results

November 2nd, 2023

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, diluted EPS, free cash flow, and leverage; the Company's execution on its brand-building strategy; the expected market share and consumption trends for the Company's brands; the Company's expected growth, including with respect to online sales; and the Company's capital allocation strategy. Words such as "anticipate," "continue," "positioned," "will," "expect," "outlook," "focus," "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 impact of geopolitical instability, including on economic and business conditions; consumer trends; disruptions to manufacturing, distribution and supply chain and related price increases; labor shortages; 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; 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, 2023. 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 or in our November 2, 2023 earnings release in the "About Non-GAAP Financial Measures" section.

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Agenda for Today's Discussion

1. Performance Update II. Financial Overview III. FY 24 Outlook

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1. Performance Update

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Continued Strong Results in Q2 FY 24

Q2 FY 24 Sales

Drivers

Superior Earnings

and FCF

Disciplined Capital

Allocation

• Solid quarterly Revenue of $286.3 million, similar to prior year's record level
• Consumers continue to seek the benefits of trusted consumer healthcare brands
• Continue to benefit from leading & diversified portfolio
• Gross Margin as expected with sequential improvement
• Solid financial profile and resulting Free Cash Flow(2) generation
• Continued focus on disciplined capital allocation resulting in leverage of 3.0x(3)
• Capital allocation priorities remain unchanged

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Brand-Building through Robust Omnichannel Campaigns

New Collateral Across Social & Digital

• High-touch,omnichannel media driving awareness across channels
• Improved brand visibility connecting with new customers

Highly Visible National Media

9	NFL	25	Estimated
Games	Million Impressions

• National exposure on Amazon Prime Thursday Night Football
• Amazon brand store views more than doubled after 1st game

"Get to Good" Campaign Driving Consumption >3x the Category

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Strong Online Growth via Strategic Conversion Campaigns

+6%

• Continued strong performance across all eCommerce partners

*Retail sales as of 9.30.2023

Continuing to Upgrade User Experience

Engaging

Content

Driving Traffic

& Conversion

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II. Financial Overview

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Second Quarter and 1H FY 24 Performance Highlights

FY 24 FY 23

Revenues of $286.3 million, down 0.7% versus	(1.0%)
record PY excluding FX	$286.3	$289.3	4.2%
	Q2		$95.7 $91.8	5.4%
					$1.07 $1.02
EBITDA(2) of $95.7 million up 4.2%		Revenues	EBITDA(2)	EPS
versus PY Q2	(0.1%)
	$565.6	$566.3	1.7%
	1H		$189.6 $186.4
			1.2%
EPS of $1.07 up 5.4% versus PY Q2					$2.13 $2.11
		Revenues	EBITDA(2)	EPS

Dollar values in millions, except per share data.

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FY 24 Second Quarter and 1H Consolidated Financial Summary

3 Months Ended

	Q2 FY 24		Q2 FY 23		% Chg
Total Revenues	$	286.3	$	289.3	(1.0%)
Gross Margin		160.0			161.0	(0.6%)
% Margin		55.9%			55.7%
A&M		40.1			43.8	(8.5%)
% Total Revenues		14.0%			15.1%
G&A		26.0			26.4	(1.7%)
% Total Revenues		9.1%			9.1%
D&A		5.7			6.4	(10.9%)
Operating Income	$	88.3	$	84.4	4.6%
% Margin		30.8%			29.2%

6 Months Ended

1H FY 24		1H FY 23		% Chg
$	565.6	$	566.3	(0.1%)
	314.7			321.1	(2.0%)
	55.6%			56.7%
	76.3			83.8	(8.9%)
	13.5%			14.8%
	53.7			53.2	1.0%
	9.5%			9.4%
	11.2			12.8	(12.3%)
$	173.4	$	171.4	1.2%
	30.7%			30.3%

1H Comments

◼ Organic Revenue(1) approximately flat vs.

record PY, as expected

- Continued growth in eCommerce up

mid-single-digits vs. PY

- Benefitting from effect of diverse

portfolio

◼ Gross Margin of 55.6% as expected

◼ A&M of 13.5% of Revenues

◼ G&A of 9.5% of Revenues, consistent

Diluted Earnings Per Share	$	1.07		$	1.02
EBITDA	$	95.7	$	91.8
% Margin		33.4%			31.7%

5.4%

4.2%

$	2.13	$	2.11		1.2%
$	189.6	$	186.4		1.7%
	33.5%		32.9%

with PY

◼ Diluted EPS up slightly vs. PY

Dollar values in millions, except per share data; D&A excludes COGS D&A

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