On May 10, 2021, the Company announced that it was expanding the existing Revlon 2020 Restructuring Program through 2023. The Company renamed the revised program the Revlon Global Growth Accelerator (“RGGA”). RGGA includes a reinvestment strategy to strengthen our brands and drive long-term profitable margin and revenue growth through realized incremental productivity initiatives and enhanced capabilities.

•Strategic Growth: Boost organic sales growth behind our strategic pillars – brands, markets, and channels – to deliver an approximate mid-single digit compound average annual growth rate through 2023;

•Operating Efficiencies: Drive additional operational efficiencies and cost savings to fuel investments in revenue growth; and

•Build Capabilities: Enhance capabilities and up-skill employees in order to evolve our culture to promote agility and deliver transformational change.

Since inception and through June 30, 2021, the Company recorded pre-tax restructuring and related charges of $86.0 million in connection with RGGA, consisting primarily of (i) $64.3 million of employee severance, other personnel benefits and other costs; and (ii) $21.7 million of lease and other restructuring-related charges that were recorded within Selling, general & administrative expenses ("SG&A") and Cost of sales.

A summary of the RGGA charges incurred since its inception in March 2020 and through June 30, 2021 is presented in the following table:



	Restructuring Charges and Other, Net
	Employee Severance and Other Personnel Benefits		Other Costs		Total Restructuring Charges		Leases (a)		Other Related Charges (b)		Total Restructuring and Related Charges
Charges incurred through December 31, 2020	$	48.6	$	1.9	$	50.5	$	12.6	$	5.7	$	68.8
Charges incurred during the six months ended June 30, 2021	3.0		10.8		13.8		2.6		0.8		17.2
Cumulative charges incurred through June 30, 2021	$	51.6	$	12.7	$	64.3	$	15.2	$	6.5	$	86.0

(a) Lease-related charges are recorded within SG&A in the Company’s Consolidated Statement of Operations and Comprehensive Loss.

(b) Other related charges are recorded within SG&A and cost of sales in the Company’s Consolidated Statement of Operations and Comprehensive Loss.

A summary of the RGGA restructuring charges incurred since its inception in March 2020 and through June 30, 2021 by reportable segment is presented in the following table:



	Charges incurred in the six months ended June 30, 2021		Cumulative charges incurred through June 30, 2021
Revlon	$	3.9	$	24.6
Elizabeth Arden	5.1		14.5
Portfolio	2.3		15.9
Fragrances	2.5		9.3
Total	$	13.8	$	64.3

The liability balance and related activity for each of the Company's restructuring programs are presented in the following table:



							Utilized, Net
	Liability Balance at January 1, 2021		Expense, Net		Foreign Currency Translation		Cash		Non-cash		Liability Balance at June 30, 2021
RGGA:
Employee severance and other personnel benefits	$	12.6	$	3.0	$	—	$	(11.0)	$	—	$	4.6
Other	—		10.8		—		(10.8)		—		—
Total RGGA	12.6		13.8		—		(21.8)		—		4.6






Other immaterial actions:
Employee severance and other personnel benefits	1.2		—		—		(0.3)		—		0.9
Other	—		—		—		—		—		—
Total other immaterial actions	1.2		—		—		(0.3)		—		0.9
Total restructuring reserve	$	13.8	$	13.8	$	—	$	(22.1)	$	—	$	5.5