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European Wax Center, Inc. Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

1. EWCZ grants stock options and RSUs to new CCO Katie Mullen. 2. RSUs cover 160,000 shares; options for 220,000 and 180,000 shares. 3. Options have exercise prices of $3.99, $9.00, and $12.00. 4. Mullen's RSUs vest annually over four years; options in full after four years. 5. EWCZ generated $951 million in sales in fiscal 2024.

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Why Bullish?

The new CCO's stock grants could align her goals with shareholders, potentially boosting EWCZ's performance. Historically, executive stock options have led to positive stock movements in similar firms seeking to reward and retain talent.

How important is it?

The appointment of a new CCO often signals a strategic shift, which can be vital for driving future growth and market confidence in EWCZ.

Why Long Term?

The impact of a new CCO and corresponding equity compensation plan will unfold over several years as strategic initiatives are implemented. Success in this role often takes time to manifest in sales and stock performance.

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CEOHRBRUBI
March 21, 2025 17:17 ET  | Source: European Wax Center, Inc. PLANO, Texas, March 21, 2025 (GLOBE NEWSWIRE) -- European Wax Center, Inc. (NASDAQ: EWCZ) (the “Company” or “European Wax Center”), the leading franchisor and operator of out-of-home waxing services in the United States, announced that on March 21, 2025, and in connection with the previously announced appointment of Katie Mullen as the Company’s Chief Commercial Officer, the Company’s Board of Directors approved grants of (i) restricted stock units (“RSUs”) covering 160,000 shares of the Company’s Class A common stock (the “Mullen RSUs”), (ii) non-qualified stock option awards to purchase 220,000 shares of the Company’s Class A common stock with an exercise price of $3.99, which is equal to the closing price of the Company’s Class A common stock on the Nasdaq Stock Market on March 21, 2025, (iii) non-qualified stock option awards to purchase 180,000 shares of the Company’s Class A common stock with an exercise price of $9.00, and (iv) non-qualified stock option awards to purchase 180,000 shares of the Company’s Class A common stock with an exercise price of $12.00 ((ii), (iii) and (iv) collectively, the “Mullen Options”). The Mullen RSUs and Mullen Options were granted pursuant to the Company’s 2025 Inducement Plan. The Mullen RSUs will vest in equal installments on each of the first four anniversaries of January 28, 2025, and the Mullen Options will vest in full on the fourth anniversary of January 28, 2025, in each case subject to Ms. Mullen’s continued employment with the Company on each such date. The Mullen RSUs and Mullen Options are subject to the terms and conditions of the Company’s 2025 Inducement Plan and the terms and conditions of the RSU award agreement and stock option award agreement covering the applicable grant. The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement material to such individuals’ entering into employment with the Company, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Mullen RSUs and Mullen Options were granted as such inducement material to Ms. Mullen entering into employment with the Company. About European Wax Center, Inc. European Wax Center, Inc. (NASDAQ: EWCZ) is the leading franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 23 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which includes more than 1,000 centers in 45 states, generated sales of $951 million in fiscal 2024. For more information, including how to receive your first wax free, please visit: https://waxcenter.com. Investor ContactEuropean Wax Center, Inc.Bethany JohnsBethany.Johns@myewc.com469-270-6888 Media ContactEdelman SmithfieldJosh Hochberg & Ashna VasaEWCIR@edelman.com Zeno GroupSophia Tortorellasophia.tortorella@zenogroup.com312-752-6851

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