EPC Q3 2020 EARNINGS SUPPLEMENTARY SLIDES

Forward-Looking Statements. This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of Edgewell Personal Care Company (“the Company”). Forward-looking statements generally can be identified by the use of words or phrases such as "believe," "expect," "expectation," "anticipate," "may," "could," "intend," "belief," "estimate," "plan," "target," "predict," "likely," "will," "should," "forecast," "outlook," or other similar words or phrases. These statements are not based on historical facts, but instead reflect the Company’s expectations, estimates or projections concerning future results or events, including, without limitation, the future earnings and performance of Edgewell or any of its businesses, growth trends, and product innovation and service to meet customer needs. Many factors outside our control (including the ongoing COVID-19 outbreak), could affect the realization of these estimates. These statements are not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause the Company's actual results to differ materially from those indicated by those statements. The Company cannot assure you that any of its expectations, estimates or projections will be achieved. The forward-looking statements included in this document are only made as of the date of this document and the Company disclaims any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. In all cases where historical performance is presented, please note that past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision.

In addition, other risks and uncertainties not presently known to the Company or that it presently considers immaterial could significantly affect the accuracy of any such forward-looking statements. Risks and uncertainties include those detailed from time to time in the Company's publicly filed documents, including in Item 1A. Risk Factors of Part I of the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on November 26, 2019 and in Item 1A. Risk Factors of Part II of the Company’s Quarterly Reports on Form 10-Q filed with the SEC.

Certain product information, competitive position data and market trends contained in this presentation have been prepared internally and have not been verified by any third party. Use of different methods for preparing, calculating or presenting such information may lead to different results and such differences may be material. In addition, certain industry and market data described in this presentation was obtained from industry and general publications and research, surveys and studies conducted by third parties. While the Company believes this information is reliable and appropriate, such information has not been verified by any independent source. You are cautioned not to place undue reliance on this product, competitive and market information or on this industry and market data.

Non-GAAP Financial Measures. While the Company reports financial results in accordance with generally accepted accounting principles ("GAAP") in the U.S., this discussion also includes non-GAAP measures. These non-GAAP measures are referred to as "adjusted" or "organic" and exclude items such as restructuring charges, combination and integration planning costs, and expenses associated with the sale of the Infant and Pet Care business. Reconciliations of non-GAAP measures, are included within the Notes to Condensed Consolidated Financial Statements included with this presentation.

This non-GAAP information is provided as a supplement to, not as a substitute for, or as superior to, measures of financial performance prepared in accordance with GAAP. The Company uses this non-GAAP information internally to make operating decisions and believes it is helpful to investors because it allows more meaningful period-to-period comparisons of ongoing operating results. The information can also be used to perform analysis and to better identify operating trends that may otherwise be masked or distorted by the types of items that are excluded. This non-GAAP information is a component in determining management's incentive compensation. Finally, the Company believes this information provides a higher degree of transparency.

Agenda

COVID-19 RESPONSE: THREE KEY AREAS OF FOCUS1

Q3 AND YTD FINANCIAL PERFORMANCE2

Q3 OPERATIONAL HIGHLIGHTS3

CREMO ACQUISITION HIGHLIGHTS4

APPENDIX5

3

COVID-19 UPDATE

COVID-19 Response: Three Key Areas of Focus

5

1. The health and safety of our colleaguesi. Protocols put in place a quarter ago have helped ensure on-going safety and

wellbeing of colleagues. ii. Beginning process of bringing teams back to offices around the world, on a

voluntary basis.

2. Ensuring the continuity of business operations and providing the best possible service to our customersi. Safety protocols at manufacturing plants ensured the continuity of

production and availability of essential products to consumers; all global manufacturing plants and DC’s remain open and operational.

ii. Continue to prioritize our strategic partnerships with the most important retailers. Focus on winning at the shelf through high levels of service, collaboration and problem-solving to build and maintain enduring and mutually beneficial relationships.

3. Managing the business in a disciplined and balanced manner while ensuring we continue to invest in the long-term success of the Company

i. Making choices and focusing on key priorities that are most relevant in the near term, while continuing to advance the strategic priorities that will drive our long-term success.

Q3 AND YTD FINANCIAL PERFORMANCE

• Organic net sales (14.7%) y/y, excluding the impact from the sale of the Infant and Pet Care business and the negative translational impact from FX. Management estimates that excluding the COVID-19 related impacts, organic net sales were essentially flat with the prior year period.

• Excluding the impact of incremental COVID-19 expenses, restructuring charges and Sun Care reformulation charges, adjusted gross margin decreased 130 bps y/y, largely due to negative category mix driven by COVID-19.

• Ended fiscal Q3 with $512 million in cash on hand, access to an undrawn $425 million credit facility and a net leverage ratio of 2.1x.

Q3 and YTD Financial Highlights

7

($ in millions)Q3 2020 Q3 2019

YTD 2020

YTD 2019

Wet Shave $278.0 $327.7 $835.5 $909.8

Sun and Skin Care $136.9$169.3 $369.5 $382.7

Feminine Care $69.0 $80.9 $229.1 $230.2

Infant Care & All Other -- $31.3 $26.8 $90.3

Net Sales $483.9 $609.2 $1,460.9 $1,613.0

% GrowthOrganic % Growth

(20.6%)(14.7%)

(1.8%)(0.3%)

(9.4%)(4.7%)

(4.9%)(4.3%)

Gross Profit $222.7 $292.2 $658.8 $736.6

% Margin 46.0% 48.0% 45.1% 45.7%

Adj. Operating Income* $58.1 $97.9 $201.7 $237.5

% Margin 12.0% 16.1% 13.8% 14.7%

Adj. EBITDA* $82.8 $117.4 $261.1 $304.2

% Margin 17.1% 19.3% 17.9% 18.9%

Capital Expenditures $10.1 $15.8 $26.9 $38.7

% of Sales 2.1% 2.6% 1.8% 2.4%

Cash $511.9 $279.0

Net Debt Leverage Ratio

2.1x 2.8x

• *RECONCILIATION TABLES FOR ADJUSTED OPERATING INCOME AND ADJUSTED EBITDA CAN BE FOUND IN APPENDIX ON SLIDES 19-20

Q3 OPERATIONAL HIGHLIGHTS

• Maintained seamless global operations and further strengthened the balance sheet with issuance of 2028 Notes

• Further developing long-term strategy; certain key pillars already established with continued focus on execution in the near-term – Project Fuel delivering gross savings as expected

• Right leadership team and structure now in place

• Investments in strategic priorities and internal capabilities

• Comprehensive sustainability strategy and objectives for 2030

Q3 Operational Highlights

9

CREMO ACQUISITION HIGHLIGHTS

11

CREMO Acquisition: Transaction Overview

12

• Edgewell enters into definitive agreement to acquire CREMO in an all cash transaction with a purchase price of approximately $235 million

– Transaction expected to close by the end of first fiscal quarter 2021

• CREMO generated net revenue of approximately $58 million over the 12 months ended June 30

– Profitable financial profile with strong cash flow generation

• Acquisition aligned with Edgewell growth strategy

– Selective bolt-on of fast growing attractive brands with the ability to accelerate growth and profitability as part of the Edgewell platform

CREMO Overview: Delivering “Barber Grade” Quality Products

13

SHAVE CARE

BEARD CARE

HAIR CARESKIN CARE

The barber grade seal stands for quality, efficacy, reliability

PREMIUM INGREDIENTS

UNCOMPROMISING STANDARDS

TRANSPARENT PACKAGING

• One of the strongest and fastest growing “Masstige” brands, with broad distribution across Mass channel and growing distribution in Drug

• CREMO has gained share as one of several insurgent brands that are disrupting the broader men’s grooming category

• Offers complete line of products across grooming categories including shave prep, beard care, body wash, haircare, hair styling, etc.

• Brand embodies premium quality with professional grade characteristics and affordable luxury

Offers A Full Range of Products Across the Men’s Grooming Category

2019 Gross Sales Breakdown

33%

26%

12%

12%

7%

5%5%

Beard

Shave Preps

Body Wash

Styling

Gifting

ShampooOther

Differentiated Positioning in the “Masstige” Segment

15

PRESTIGEMASS “MASSTIGE”

SHAVE CARE

BEARD CARE

HAIR CARE

BODY CARE

Why CREMO? Strategic Rationale

16

• Fast Growing Men’s Grooming Segment

– Largest insurgent brand in US men’s grooming segment

• Demonstrated Capabilities

– Market leading innovations with premium positioning

• Profitable Business

– Strong margin and cash flow profile

• Diversified Product Portfolio

– Proven ability to win across many of the high growth sub-categories in men’s grooming and personal care

• Consumer-centric Brand Building

– Brand resonates with customers with unique positioning and marketing approach

• Accelerated Growth Profile (channel, geographic)

– Rapid growth profile demonstrated with meaningful opportunity to accelerate on the back of Edgewell’s platform

17

APPENDIX

Adjusted Operating Income Reconciliation

19

Adjusted EBITDA Reconciliation

20

Quarter Ended June 30, Nine Months Ended June 30, 2020 2019 2020 2019 Net earnings (loss) $ 4.7 $ (460.7) $ 46.6 $ (412.9) Income tax provision (benefit) 0.6 (42.0) 16.5 (18.5) Interest expense, net 15.7 15.4 43.4 47.7 Depreciation and amortization 21.0 22.8 65.5 69.2 EBITDA $ 42.0 $ (464.5) $ 172.0 $ (314.5) Impairment charges $ — $ 570.0 $ — $ 570.0 Restructuring and related costs 10.4 8.4 30.8 41.8 Acquisition and integration planning costs 0.3 1.9 32.0 2.9 Cost of early debt retirement 26.2 — 26.2 — Gain on sale of Playtex gloves — — (4.1) — COVID-19 expense 3.9 — 3.9 — Feminine and Infant Care evaluation costs — 0.6 0.3 1.6 Sun Care Reformulation — 1.0 — 1.5 Legal expense — — — 0.9 Adjusted EBITDA $ 82.8 $ 117.4 $ 261.1 $ 304.2