SCHEDULE 13G/A 0000902664-24-007019 0001768757 XXXXXXXX LIVE 3 Class A Common Stock, $0.00001 par value per share 09/30/2025 0001856236 European Wax Center, Inc. 29882P106 5830 Granite Parkway, 3rd Floor Plano TX 75024 Rule 13d-1(c) Ararat Capital Management, LP DE 0.00 3114767.00 0.00 3114767.00 3114767.00 N 7.2 IA PN Narrow River Capital Partners Master Fund, L.P. E9 0.00 3114767.00 0.00 3114767.00 3114767.00 N 7.2 PN Raffi Tokatlian X1 0.00 3114767.00 0.00 3114767.00 3114767.00 N 7.2 IN European Wax Center, Inc. 5830 Granite Parkway, 3rd Floor, Plano, TX 75024 This report on Schedule 13G (this "Schedule 13G"), is being jointly filed by (i) Ararat Capital Management, LP ("Ararat"), a Delaware limited partnership, the investment manager to Narrow River Capital Partners Master Fund, L.P. (the "Master Fund"), a Cayman Islands exempted limited partnership, that holds 3,114,767 shares of Class A common stock, $0.00001 par value per share (the "Class A Common Stock"), of European Wax Center, Inc. (the "Company") as reported on this Schedule 13G; (ii) the Master Fund; and (iii) Raffi Tokatlian, as the sole member and manager of Ararat Capital Management GP, LLC ("Ararat GP"), the general partner of Ararat ("Mr. Tokatlian," and, collectively with Ararat and the Master Fund, the "Reporting Persons"). The shares of Class A Common Stock reported herein may be deemed to be beneficially owned (x) by the Master Fund, (y) indirectly by Ararat, as the investment manager to the Master Fund, and (z) indirectly by Mr. Tokatlian, as the sole member and manager of Ararat GP. The address for the Reporting Persons is: 2 Railroad Place, Westport, CT 06880. Ararat is organized under the laws of the State of Delaware. Mr. Tokatlian is a citizen of the United States. The Master Fund is a Cayman Islands exempted limited partnership. Y The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentages set forth in this Schedule 13G are calculated based upon an aggregate of 43,360,719 shares of Class A Common Stock reported to be outstanding as of August 7, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended July 5, 2025, filed with the Securities and Exchange Commission on August 13, 2025. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the shares of Class A Common Stock reported herein. 7.2% The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference. Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Ararat Capital Management, LP /s/ Raffi Tokatlian 11/14/2025 Narrow River Capital Partners Master Fund, L.P. /s/ Raffi Tokatlian 11/14/2025 Raffi Tokatlian /s/ Raffi Tokatlian 11/14/2025