FY’23 – FY’26 Business Plan Overview

Table of Contents Q4’22 & FY’22 Update 3 FY’23 – FY’26 Business Plan 6 Liquidity Forecast 15 Business Plan Overlays 24 Non-GAAP Reconciliation 26 1 2 3 2 4 5

Q4’22 & FY’22 Update 3

PF F8 vs. DIP Sizing Variance (at ’22 Budget FX Rates) P&L Variance to DIP Sizing (H2’22) (Unless otherwise noted, USD in millions at FY’22 Budget F/X Rates) Q3 ’22 figures are preliminary and could change, subject to completion of financial review. However, current information suggests that any changes would be favorable to Q3 ‘22 amounts illustrated herein 4 (1) Q3 ’22 results were finalized after the business plan was published. Actual Q3 ’22 Recurring EBITDA (at ’22 Budget FX Rates) of ~$55MM was ~$10MM favorable to F8 Q3 EBITDA of ~$45MM. The ~$10MM favorability relative to the F8 figures in the business plan primarily reflects favorability in operating expenses in September (e.g., COGS, Brand Support, Indirect SG&A) (1)

PF F8 vs. DIP Sizing Variance (at ’22 Budget FX Rates) P&L Variance to DIP Sizing (FY’22) (Unless otherwise noted, USD in millions at FY’22 Budget F/X Rates) (1) Reflects FX adjustment from 2023 Budget FX Rates as of 6/30 to 9/30 Spot FX Rates (2) Adjusted Recurring EBITDA for FY22 PF F8 reflects reported FX rates for Jan’22 - Aug’22 and estimated spot rates for Sep’22 – Dec’22 (i.e., 8+4 forecast) (1) (2) 5

FY’23 – FY’26 Business Plan 6

Business Plan Process Overview Company’s DIP milestones require entry into a Restructuring Support Agreement (“RSA”) by November 15th(1) and filing a Plan of Reorganization and Disclosure Statement by December 14th(1) The business plan process was kicked off in early July, to develop baseline projections for FY’23 – FY’26 (“Baseline Forecast” or “LTF”) and evaluate a range of potential strategic initiatives (“Overlays”) The FY’23 – FY’26 Baseline projections presented herein exclude the Overlays Company teams were tasked to develop brand/region-specific business plans for FY’23 and FY’24 with defined high-level strategies to execute on stated goals Each brand/region team presented their plans at various checkpoints throughout August and September with review conducted by the ELT and A&M. Follow-up meetings/analyses were conducted to review underlying assumptions, strategies, and trends FY’25 and FY’26 projections are derived from the 2024 Baseline Forecast Macro industry indicators and addressable market trends evaluated Market / brand shares and growth opportunities considered in development / refinement of brand and region level assumptions (1) Reflects two-week extension of RSA Milestones granted during the Final DIP Hearing from October 31st to November 15th 7

(1) FY’23 growth guidance as publicly disclosed as of 10/24/22 (2) Source: Euromonitor as of 9/27/22; reflects nominal industry growth rates (3) IMF, World Economic Outlook, Oct 2022 (4) DXY historical data (5) FY’23 Supply Chain COGP Budget Consumer Trends Consumers are returning to physical retail, which is driving omnichannel expansion enabled by technology Science-backed formulas are increasingly important in both skin and color cosmetics, with consumers seeking out next-generation key ingredients Brands that celebrate and re-define diversity and sustainability are resonating Beauty Market Conditions Market recovering from effects of COVID-19 on consumer spending and confidence, resulting in increased demand for most discretionary industry products Ongoing effects of COVID continue to impact select markets with continued lockdowns (e.g., China, Australia) Global market growth rates of 6-9% across beauty categories IMF Global Growth Forecast (Oct 2022) YoY Real GDP Outlook U.S.: declining from 1.6% (‘22) to 1.0% (’23) EMEA: declining from 3.1% (’22) to 0.5% (’23) APAC: increasing from 4.4% (’22) to 4.9% (’23) F/X Rates The U.S. Dollar is demonstrating near record-high strength against global currencies Preliminary analysis suggests the 2023 EBITDA risk of ~$24MM (~$18MM translation + ~$6MM transactional) from initial 2023 budget rates initial set using June 30th, 2022 spot rates Inflation / Supply Chain Business Plan assumes ~11% COGP (per unit) cost increase from ‘21 to ‘23, primarily driven by higher material costs due to on-going raw material/component cost aggravation across both North America and EMEA Global supply chain constraints improving, however, challenges continue to impact production capacity Summary of Market Trends and Outlook Coty Sales Growth Target (1) e.l.f. Estée Lauder Global Mkt. Growth (2) ’22-’26 CAGR % 2023 GDP Outlook (3) U.S. Dollar Index (4) 2021 to 2023 Production Cost Inflation (5) Global: U.S.: EMEA: APAC: 8

Revlon Brand Portfolio 9 Core Competencies / Strengths Challenges Revlon Iconic brand - very high consumer awareness + global scale Leadership in Lip category (#1 launches in ’21 + ’22 in U.S.)(1) Expertise in hair color (#1 mass brand in U.S.) Premium positioning in the Professional channel in EMEA Under-investment in brand support presents challenge to share of market and shelf space in the mass channel Promotional activity in U.S. Mass E-commerce penetration Elizabeth Arden Expertise in prestige skincare with ingredient-based product portfolio and unique delivery systems Fragrance portfolio includes premium and accessible price points to broaden consumer reach Established presence in growing markets and channels including China market and DTC Changing dynamics in key markets: Increased importance of specialty retail Highly competitive and challenged China market Fragrances Multi-brand, multi-channel brand portfolio Leadership and scale in U.S. Mass market Longstanding relationships with key fragrance houses enables innovation Normalized supply chain in ’23 present PDM opportunity U.S. channel mix between Mass and Prestige markets Pressure on go-forward distribution Portfolio Strong brand portfolio with leadership positions in key categories such as Men’s Grooming (American Crew) and Professional Nail (CND) Brands play in growing beauty category include anti-perspirant / deodorants and multicultural hair care Under-investment in Portfolio brands Functions Strong internal R&D capabilities with expertise in Color Cosmetics, skincare, hair color and care Global manufacturing and distribution network Manufacturing Footprint utilization SG&A structure compared to peers Through YTD July 2022

FY’23 -'26 Key Growth Drivers by Region 10 Region Direct Contribution Margin % excludes Corporate P&L costs % of Net Sales Market sourced from Euromonitor as of 9/27/22; reflects nominal industry growth rates Gross Sales (Region DC % Margin(1)(2)) Americas EMEA APAC FY’22 – FY’26 Commentary Gross Sales projected to grow by ~$738MM from $2.5B in FY’22 to $3.3B in FY’26 (~7% CAGR) Growth primarily driven in ’23 – ’24 with market level / slightly below market growth in ’25 – ‘26 Mid to high single digit growth rates across segments Mid single digit growth rates across segments High single digit growth rates across segments +7% +6% +6% +6% +10% +9% +3% +3% +10% +9% +4% +5% +4% +9% +7% +8% +10% +10% Market (3) Revlon ’22-’26 CAGR (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot)

Recurring EBITDA is projected to grow to ~$413MM by FY’26 prior to FX P&L Detail (FY’20 to FY’26) 11 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates at 6/30/22 spot) Adjusted Recurring EBITDA for FY22 PF F8 reflects reported FX rates for Jan’22 - Aug’22 and estimated spot rates for Sep’22 – Dec’22 (i.e., 8+4 forecast) Reflects FX adjustment from 2023 Budget FX Rates as of 6/30 to 9/30 Spot FX Rates

Departmental SG&A Overview 12 Total departmental SG&A is estimated to grow at 3.1% CAGR from FY'22 to FY'26 +3.1% (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) 2021 bonus reversal of $26MM driving YoY growth Total departmental SG&A is projected to grow from $478MM in FY‘22 to $540MM in FY'26, primarily due to wage/benefits inflation, as well as increases in equipment, insurance, and merchandising Estimates exclude any benefit from organization structure redesign that could be captured as an overlay

Estimated to grow at ~10% CAGR from FY’22 to FY’26; inline with pre-2020 levels as a % of Net Sales Capex and Permanent Displays 13 Capex estimated to grow at ~19% CAGR from $16MM in FY’22 to $32MM in FY’26, largely driven by manufacturing cost reduction, equipment replacement, process enhancement, and postponed IT projects Permanent displays estimated to grow at ~6% CAGR from $40MM in FY’22 to $50MM in FY’26, largely driven by postponed 2022 spend, wall systems, and in support of sales growth / NDP 2018 and 2019 capex and permanent displays as a percentage of net sales were 5.4% and 3.1%, respectively, with 2019 levels utilized as the basis for FY’22 and FY’26 projections +10% (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) % of NS Net Sales 2.8% $1,988 4.6% $2,210 4.1% $2,414 3.1% $2,507 3.1% $2,626

Brand P&L Detail 14 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Reflects 2022 Pro Forma F8 BrandCo Brands include the following 13 brands: Almay, American Crew, Arden, Charlie, CND, Curve, Giorgio Beverly Hills, Halston, Jean Nate, Multicultural Group, Mitchum, Paul Sebastian, and White Shoulders

Liquidity Forecast 15

April 30, 2023 Assumed Emergence Liquidity Summary (through Emergence) vs. DIP Sizing 16 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) LTF(1) DIP Sizing (1) Represents Liquidity through Emergence prior to any Emergence-related activities Ending liquidity as of April 30, 2023 Emergence Date in Latest Thinking Forecast (“LTF”) is ~$81MM vs. ~$160MM in the DIP Sizing Actuals Favorable variance vs. DIP Sizing primarily driven by favorable Q3 EBITDA performance, timing of CapEx projects and favorable working capital; partially offset by higher professional fees Unfavorable variance vs. DIP Sizing primarily driven by higher professional fees, higher cash interest cost, FX translation impact, and increased CapEx/Perm Displays A B A B

17 (Unless otherwise noted, USD in millions) Variance Est. $ Impact Comments Recurring EBITDA, NWC, Capex, Taxes & Other 35 Net Working Capital Benefit (primarily due to faster stabilization of DPO terms) and higher ABL availability, offset by increased capex and revised cash tax forecast FX Translation Risk (13) 9/30 FX Rates vs. 6/30 (FY’23 Budget Rates) Interest (12) Increase vs. DIP reflects latest interest rate curves Professional Fees (89) ~$15MM/month run rate in DIP Sizing vs. ~$22MM/month run rate in revised professional fee forecast Liquidity prior to any Emergence-related activity Increased professional fee run rate of ~$22MM/month Total Impact of ~$22MM Liquidity Summary (through Emergence) vs. DIP Sizing $35

Illustrative Sources & Uses 18 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Notes Pre-Emergence Cash: Est. cash balance prior to Emergence Accrued & Unpaid Professional Fees: includes ~$50MM of Transaction Fees Other Restructuring Items: Amount reflects estimated other restructuring costs expected to be paid at Emergence Debt Paydown: Reflects repayments of BrandCo DIP, B1’s (including Make-Whole Payment), DIP ABL, and FILO Accrued & Unpaid Interest: Estimate at Emergence Repayment & Transaction Fees: Exit fees per the DIP Credit Agreements and estimated transaction fees on new debt Post-Emergence Cash: Reflect post-emergence cash assumption Illustratively assumes ~$1.5B Post-Emergence capital structure

Post-Emergence Unlevered Free Cash Flow 19 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Unlevered FCF Unlevered Free Cash Flow below reflects zero beginning cash Post-Emergence and a build of ~$786MM through 2026

Net Working Capital Summary 20 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Excludes $262MM balance assumed to be extinguished at emergence (non-cash item); change reflects FDM payments only Post-Emergence Balance Sheet does not include Fresh Start accounting adjustments to re-mark Asset and Liabilities to fair value (2)

FY’22 Net Working Capital Detail 21 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Excludes $262MM balance assumed to be extinguished at emergence (non-cash item); change reflects FDM payments only Post-Emergence Balance Sheet does not include Fresh Start accounting adjustments to re-mark Asset and Liabilities to fair value Actuals through Aug-22 are at Reported Rates (2)(3)

FY’23 Net Working Capital Detail 22 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates based on June 30th spot) Excludes $262MM balance assumed to be extinguished at emergence (non-cash item); change reflects FDM payments only Post-Emergence Balance Sheet does not include Fresh Start accounting adjustments to re-mark Asset and Liabilities to fair value (2)

Professional Fee Detail: Revised Forecast 23 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates at 6/30/22 spot) (1) Represents monthly incurrence of professional fees; does not include transaction fees payable at Emergence (1)

Business Plan Overlays 24

Business Plan Overlays & Strategic Initiatives 25 Not reflected in current business plan as presented on prior pages In addition to savings included in the Business Plan forecast, the Company has identified strategic initiatives and opportunities for savings that can be contemplated as incremental overlays to the forecast: Total Overlay Annualized Savings of ~$62MM – $88MM One-Time Costs of ~$62MM – $97MM Most one-time costs to be incurred in 2023 and 2024, with majority of the annual benefit to be achieved by 2025

Appendix: Non-GAAP Reconciliations 26

Total Company: Non-GAAP Reconciliation 27 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates at 6/30/22 spot) Adjusted Recurring EBITDA for FY22 PF F8 reflects reported FX rates for Jan’22 - Aug’22 and estimated spot rates for Sep’22 – Dec’22 (i.e., 8+4 forecast) Reflects FX adjustment from 2023 Budget FX Rates as of 6/30 to 9/30 Spot FX Rates (1)

Brand Detail: Non-GAAP Reconciliation 28 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates at 6/30/22 spot) Adjusted Recurring EBITDA for FY22 PF F8 reflects reported FX rates for Jan’22 - Aug’22 and estimated spot rates for Sep’22 – Dec’22 (i.e., 8+4 forecast) (1)

Total Company: Non-GAAP Reconciliation 29 (Unless otherwise noted, USD in millions at FY’23 Budget F/X Rates at 6/30/22 spot) Reflects Post-Emergence period (May 2023 – December 2023) Reflects FX adjustment from 2023 Budget FX Rates as of 6/30 to 9/30 Spot FX Rates (1)