Evolus (EOLS) investor relations material

Market trends and recovery

• Toxin market showed improvement starting in Q4, with positive momentum continuing into Q1, following a year of negative growth driven by middle-class consumer pullback and extended treatment intervals.

• Market is expected to return to low single-digit growth in the near term, with mid single-digit growth projected for 2027-2028 as consumer confidence improves and clinics expand.

• Filler market recovery lags behind toxins, impacted by negative sentiment around overfilled faces and a two-year cycle of depressed demand, but sentiment is turning positive, especially in the UK.

• GLP-1 users are beginning to seek aesthetic treatments, but the impact on the filler market is gradual due to time and cost factors.

Product differentiation and performance

• The hyaluronic acid (HA) filler is manufactured at near-freezing temperatures to preserve the natural HA structure, resulting in efficient, forgiving gels with good duration and injector control.

• Despite a challenging filler market, the new filler launch has been among the top in the HA space, now present in 3,000 clinics, with plans to expand further.

• Training is a key driver of adoption, with over 12,000 injectors trained hands-on last year and a focus on second trainings to boost utilization.

• The upcoming Sculpt product is expected to be the flagship, potentially driving 40% or more of filler revenue.

Portfolio strategy and customer engagement

• Bundling of toxin and filler products has unlocked greater share in clinics, overcoming previous limitations from being a single-product company.

• Larger clinics are now more accessible due to the expanded portfolio, with active efforts to penetrate these high-potential accounts.

• Consumer loyalty program has grown to over 1.4 million members, offering automated, co-branded incentives that drive repeat visits and are unique in the industry.

• Co-branded media and digital advertising investments remain efficient, supporting both clinic and brand growth.