# EDGAR Filing Document

**Accession Number:** 0001856236
**File Stem:** 0000950170-25-096084
**Filing Date:** 2025-7
**Character Count:** 32948
**Document Hash:** f8731dcaa60d1cacddef337bd4dc7281
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-096084.hdr.sgml**: 20250716

**ACCESSION NUMBER**: 0000950170-25-096084

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250716

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250716

**DATE AS OF CHANGE**: 20250716

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** European Wax Center, Inc.
- **CENTRAL INDEX KEY:** 0001856236
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PERSONAL SERVICES [7200]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 863150064
- **FISCAL YEAR END:** 0106

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40714
- **FILM NUMBER:** 251126234

**BUSINESS ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY, 3RD FLOOR
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024
- **BUSINESS PHONE:** 469-264-8123

**MAIL ADDRESS:**
- **STREET 1:** 5830 GRANITE PARKWAY, 3RD FLOOR
- **CITY:** PLANO
- **STATE:** TX
- **ZIP:** 75024

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

------

## **FORM** 8-K

------

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** July 16, 2025<br>

------

EUROPEAN WAX CENTER, INC.

**(Exact name of Registrant as Specified in Its Charter)**

------

---

| | | |
|:---|:---|:---|
| Delaware | 001-40714 | 86-3150064 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 5830 Granite Parkway, 3rd Floor |  |  |
| Plano**,** Texas |  | 75024 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (469) 264-8123<br>

**(Former Name or Former Address, if Changed Since Last Report)**

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Class A common stock, par value $0.00001 per share | EWCZ | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

## **Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** 
On July 16, 2025, the Company announced the appointment of Angela Jaskolski as Chief Operating Officer of the Company, effective August 18, 2025 (the "Effective Date").

Ms. Jaskolski, age 52, most recently served as Chief Store Officer of Madison Reed, a franchised hair color and care company, since June 2023, where she led one of the brand's fast-growing business channels, overseeing nearly 100 Hair Color Bar locations and driving significant performance gains, including increases in revenue, EBITDA and average unit volume. Previously, she served as Chief Operating Officer of Thrive Pet Healthcare, a veterinary services company, from October 2022 to June 2023, where she provided strategic and operational leadership for over 300 pet hospitals and more than 10,000 team members nationwide. Additionally, Ms. Jaskolski served as Chief Operating Officer of Self Esteem Brands, a fitness and wellness support company, from September 2020 to October 2022 and held other leadership roles at Self Esteem Brands from 2016 to 2020. Ms. Jaskolski brings over a decade of executive-level operations, corporate development and business strategy experience across consumer, wellness and franchise brands. Ms. Jaskolski received a B.S. in Zoology from North Dakota State University.

In connection with the appointment of Ms. Jaskolski as Chief Operating Officer, Ms. Jaskolski and the Company entered into an offer letter dated July 2, 2025, which sets forth the terms of her employment with the Company (the "Offer Letter"). Pursuant to the Offer Letter, Ms. Jaskolski will be entitled to receive an annual base salary of $450,000 and she will be eligible to participate in the Company's bonus program with a target bonus of 60% of base salary. In connection with Ms. Jaskolski's appointment as Chief Operating Officer, Ms. Jaskolski will receive (i) a sign-on bonus of $20,000, payable during the Company's first pay cycle following Ms. Jaskolski's first 90 days of continuous employment; (ii) reimbursement of certain reasonable and necessary travel and lodging expenses; (iii) a grant of 125,000 restricted stock units; (iv) a grant of options to purchase 195,000 shares of the Company's Class A common stock ("Common Stock") with an exercise price equal to the closing price of a share of Common Stock on the Effective Date; (v) a grant of options to purchase 135,000 shares of Common Stock with an exercise price of $9.00 and (vi) a grant of options to purchase 135,000 shares of Common Stock with an exercise price of $12.00. The restricted stock units will vest in equal installments on each of the first four anniversaries of the Effective Date, and the options will be exercisable on the fourth anniversary of the Effective Date, generally subject to continued employment through the applicable vesting date, subject to accelerated vesting in certain circumstances. Ms. Jaskolski will be eligible to participate in the Company's Change in Control and Severance Plan.

There is no arrangement or understanding between Ms. Jaskolski and any other person pursuant to which she was appointed Chief Operating Officer of the Company. There are no transactions involving Ms. Jaskolski requiring disclosure under Item 404(a) of Regulation S-K.

The foregoing summary of the Offer Letter does not purport to be complete and is qualified in its entirety by reference to the Offer Letter, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

**Item 7.01 Regulation FD Disclosure.**

On July 16, 2025, the Company issued a press release in connection with the announcement of Ms. Jaskolski's appointment as Chief Operating Officer and other changes to the Company's executive leadership team, a copy of which is furnished herewith as Exhibit 99.1.

All of the information included in this Item 7.01 and the accompanying exhibit is being furnished and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filings, unless expressly incorporated by specific reference in such filing.

## **Item 9.01 Financial Statements and Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| 10.1 | [<u>Offer Letter, dated July 2, 2025, by and between Angela Jaskolski and EWC Corporate, LLC.</u>](ewcz-ex10_1.htm) |
| 99.1 | [<u>Press release announcing executive leadership changes issued by European Wax Center, Inc. on July 16, 2025.</u>](ewcz-ex99_1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | EUROPEAN WAX CENTER, INC |
| July 16, 2025 | By: | /s/ GAVIN M. O'CONNOR |
|  |  | Name: Gavin M. O'Connor<br>Title: Chief Administrative Officer, General Counsel and Corporate Secretary |

---

------

## Exhibit 10.1

**Exhibit 10.1**

![img141107419_0.jpg](img141107419_0.jpg)

July 2, 2025

**VIA EMAIL**

Angela Jaskolski

Dear Angela,

EWC Corporate, LLC and its affiliates (collectively, "**EWC**", "**we**", "**us**" or "**our**"), operate and support the European Wax Center franchise system. We are very pleased to offer you the position of Executive Vice President and Chief Operating Officer of EWC Corporate, LLC and European Wax Center, Inc. on the following terms and subject to the conditions outlined in this letter.

1.<u>Position</u>. You will have duties, responsibilities and authorities commensurate with this role and as may reasonably be assigned from time to time. You will report to the Chief Executive Officer of European Wax Center, Inc. and we anticipate your employment will begin on or around August 18, 2025. This full-time position requires you to devote your full business time to EWC business and therefore, you shall not engage in any activity which conflicts or interferes with the performance of your obligations without our express written consent.

While you will initially be designated as an employee of EWC Corporate, LLC, you will provide services for the benefit of various EWC entities. From time to time, we may require you to submit reports to us to allow us to track work performed and amount of time spent on work for our affiliates. Please also understand that as a franchise system, we support franchise locations that are individually owned and operated businesses and therefore, while we do provide training and support, we do not control franchisees or their personnel.

2.<u>Compensation and Bonus</u>. Your annual base pay will initially be $450,000, which amount will be reviewed from time to time by the Board of Directors ("Board") or its Compensation Committee. As a full-time exempt associate, you are not eligible for overtime pay. Your salary shall be payable in accordance with our standard payroll policies in effect from time to time and will be subject to all applicable withholdings. You will also be eligible for an annual target performance bonus of 60% of your annual salary, with a maximum/stretch performance bonus of 120% of your annual salary. The amount of your actual bonus is based upon criteria established by and approvals from the Board or its Compensation Committee. Bonuses are typically provided on a calendar year basis and paid in February or March for the preceding year, subject to all applicable withholdings. Bonuses are not earned until the date of payment. Therefore, you must be employed on the date your bonus is awarded and actually paid to be eligible to receive a bonus. For those associates that are bonus eligible, associates that start prior to October 1st are eligible to receive their target bonus for their first calendar year of employment however their bonus potential is pro-rated based on their start date; associates that start with us on or after October 1st are not bonus eligible until the next calendar year that follows their start date. You will also be paid a $20,000 sign-on bonus to be paid during the first regularly scheduled payroll cycle after 90 days of continuous employment (subject to applicable withholdings); provided, that, should your employment be terminated by you without Good Reason, or be terminated by us for

------

Cause, in either case prior to twelve months after your start date, you will be responsible for promptly (within 15 days) reimbursing us for the amount of this bonus. For purposes of the foregoing, "Good Reason" and "Cause" shall have the meanings ascribed to such terms in European Wax Center, Inc.'s Change in Control and Severance Plan (the "Severance Plan"). For the purposes of any repayment obligation, if you repay any amounts in the same tax year you received the payment, you will be responsible for repaying the net amount, and if such repayment is in a year subsequent to the year received, your obligation shall be to repay the gross amount.

3.<u>Incentive Compensation</u>. As an inducement to your accepting and commencing employment with EWC, promptly after your start date and the corresponding conclusion of any then-existing trading blackout period (the date that the awards are actually granted, the "**Date of Grant**"), you will be granted 125,000 Restricted Stock Units (the "**RSUs**") and the following tranches of Nonqualified Stock Options (the "**Options**") with the corresponding exercise price:

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>Number of Options</u>  | &nbsp;&nbsp;<u>Exercise Price</u> |
| &nbsp;&nbsp;195000 | &nbsp;&nbsp;Closing price of Company stock on Date of Grant  |
| &nbsp;&nbsp;135000 | &nbsp;&nbsp;$9.00  |
| &nbsp;&nbsp;135000 | &nbsp;&nbsp;$12.00  |

---

The RSUs shall vest equally in four (4) annual tranches from the Date of Grant, and the Options shall vest and become exercisable in full on the fourth (4th) anniversary of the Date of Grant, subject in each case to your continued employment or service with the Company through each such date (each such date, a "**Vesting Date**"). The RSUs and Options shall be granted pursuant to, and in accordance with, the terms and conditions of (i) the 2021 Omnibus Incentive Plan or the 2025 Inducement Plan and (ii) a grant agreement, which will govern the terms of such awards. We will provide you copies of each of these governing documents separately upon the authorization and approval of the Options and RSUs. You will not participate in the annual equity grant cycle for EWC associates generally in fiscal year 2025, but will participate in such annual equity grant cycle beginning in fiscal year 2026. All grants under the 2021 Omnibus Incentive Plan and/or the 2025 Inducement Plan are subject to the approval of the Board or its Compensation Committee.

4.<u>Benefits</u>. While employed with us, you will be eligible to participate in certain benefit plans in accordance with our policies in effect during your employment including, without limitation, health, dental and vision insurance, a 401(k) retirement plan and a complimentary Wax Pass for services at our locations, in addition to other generally available health, welfare and other plans that may be in effect from time to time, in each case in accordance with their terms.

5.<u>Location</u>. This role is eligible to work remotely from Austin, Texas. However, there is an expectation that direct reports to the CEO will be physically in the office on a regular basis, and for a variety of company purposes including, without limitation, in-person Town Hall meetings, earnings calls, meetings with analysts and investors, and the like. You may also be required to travel from time to time for seminars, business meetings or for other business purposes.

6.<u>Commuting Expenses</u>. We will reimburse you for reasonable travel and temporary transient accommodations (e.g. standard hotel) expenses, consistent with our travel and expense policy and this Agreement, for travel between your principal residence in the Austin, TX area and our headquarters (no more than one round-trip per week) for a period of ninety (90) days following the start of your employment. After the ninety (90) days of the start of your employment, we will reimburse you for travel expenses only (e.g. ground or air transportation) to and from Dallas-Fort Worth. When booking travel, you will work in good faith with us to take advantage, to the extent reasonably practicable, of

------

corporate accounts and other preferred providers to minimize out-of-pocket costs, and shall document and deliver receipts or other appropriate documentation in accordance with the travel and expense policies established by us.

7.<u>Paid Time Off; Expenses</u>. You are also eligible for 216 hours of Paid Time Off ("**PTO**") pursuant to our PTO policies in effect from time to time. PTO is pro-rated based on your start date. We will also reimburse you for reasonable business and related expenses incurred or paid by you in the performance of your duties and responsibilities, subject to the presentation of receipts or other appropriate documentation and in accordance with policies we establish from to time to time.

8.***<u>At-Will Employment; Change in Control and Severance Policy</u>. Your employment with us will be at-will, which means that your employment is for an indefinite period of time and both you and EWC are free to terminate the employment relationship at any time for any or no reason and for any lawful reason with or without notice.***

***You will be an eligible employee under our Change In Control and Severance Policy (the "Severance Policy"), which provides certain benefits upon separation of your employment without cause, for good reason, and under other circumstances. This information will be provided to you in a separate document. The position offered to you hereby is at the Executive Vice President level for purposes of benefits under the Severance Policy.***

9.<u>EWC Policies</u>. You will be required to comply with all applicable EWC rules, policies and procedures, as may be set forth in our employment handbooks, policies and procedures made available to you from time to time. Copies of our employment handbooks and these other policies and procedures will be provided separately on or around your start date and are also available upon request. You agree that you are subject to the Company's Policy for Recoupment of Incentive Compensation. In addition, your employment is contingent upon your execution of our current Confidentiality, Non-Interference and Proprietary Rights Agreement.

10.<u>No Other Agreements</u>. This offer letter is not meant to constitute a contract of employment for a specific duration or term, it merely sets forth the initial terms of your employment and compensation with us which may change over time, and supersedes any prior representations or agreements, whether written or oral.

11.<u>Conditions of Employment</u>. In addition to the execution of our current Confidentiality, Non-Interference and Proprietary Rights Agreement, please understand that this offer of employment is specifically also contingent upon (i) verification of your employment eligibility to work in the United States and (ii) completion of a background check and credit check. Our Talent team will provide you with a copy of the "Lists of Acceptable Documents" for the USCIS Form I-9. Please make sure to bring appropriate documentation when you arrive on your first day. The Talent team will contact you separately about our requirements to conduct a background check and credit check and will provide you with all required notices and authorization forms.

------

Upon your acceptance, subject to the completion of our pre-employment screening requirements, as applicable, we will confirm your actual start date. If you wish to accept this offer of employment, please sign below and return this offer letter to the undersigned at gavin.oconnor@myewc.com. Unless otherwise withdrawn, this offer is open for you to accept until July 3, 2025, at which time it will be deemed to be withdrawn. If you have any questions about the above details, please don't hesitate to call me. We look forward to having you join the European Wax Center team.

Sincerely,

EWC Corporate, LLC

---

| | |
|:---|:---|
| &nbsp;&nbsp;By: | &nbsp;&nbsp;/s/ Gavin O'Connor |
|  | &nbsp;&nbsp;Gavin O'Connor |
|  | &nbsp;&nbsp;Chief Administrative Officer, General Counsel and Corporate Secretary |

---

By signing below, I hereby accept employment with EWC upon the terms and conditions set forth above, and agree that I am not relying on any prior statements, understandings, or representations, except for those specifically set forth within this offer letter. I also represent, warrant, and covenant to EWC that I have read this offer letter and the form of Confidentiality, Non-Interference, and Proprietary Rights Agreement in their entirety, that I fully understand all of their terms and their significance, that I have signed voluntarily and of my own free will, and that I am not bound, nor will I become bound, by any covenant, contract, agreement, or other obligation that conflicts with, or may or does prevent me in any manner from performing, my duties while employed with EWC.

In accepting this offer of employment, I also certify my understanding that my employment with EWC will be on an at-will basis; that this offer letter does not constitute an employment contract, express or implied; and that this offer letter does not guarantee employment with EWC for any specific duration.

---

| | | | |
|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;Print Name: | &nbsp;&nbsp;Angela Jaskolski |
| &nbsp;&nbsp;Date: | &nbsp;&nbsp;7/2/2025 | &nbsp;&nbsp;Signature: | &nbsp;&nbsp;/s/ Angela Jaskolski |

---

------

## Exhibit 99.1

**Exhibit 99.1**

**European Wax Center, Inc. Strengthens Executive Leadership Team with Key Appointments**

*Angela Jaskolski appointed Chief Operating Officer and Kurt Smith named Chief Development Officer, <br>bringing deep consumer industry experience in franchise operations and development*

PLANO, Texas, July 16, 2025 – European Wax Center, Inc. (NASDAQ: EWCZ) (the "Company" or "European Wax Center"), the leading franchisor and operator of out-of-home waxing services in the United States, today announced that it has appointed Angela Jaskolski as Chief Operating Officer, effective August 18, 2025, and Kurt Smith as Chief Development Officer, effective July 22, 2025. Ms. Jaskolski and Mr. Smith will report to Chief Executive Officer Chris Morris.

Ms. Jaskolski brings over two decades of executive-level experience in operations, field leadership and organizational performance across high-growth, multi-unit retail and service brands. She most recently served as Chief Store Officer at Madison Reed, a fast-growing national hair care brand, where she drove substantial increases in average unit volume (AUV) and EBITDA, in addition to impactful improvement in both customer and team member experiences. Ms. Jaskolski will oversee Franchise Operations, Field Training, Learning and Development and Industry Engagement and will work closely with the executive team to drive operational efficiency and enhance center performance.

Mr. Smith brings nearly 20 years of global leadership experience in franchise development, strategic planning and brand expansion across the consumer and retail sectors. He most recently served as Vice President and General Manager of Pizza Hut Latin America and the Caribbean at Yum! Brands, where he partnered with franchisees across more than 25 markets to achieve record-high profitability and franchisee engagement. Mr. Smith will oversee all aspects of Business Development, Real Estate, Market Planning and Franchise Recruitment and work alongside the executive team to strengthen the Company's franchisee network and execute its long-term development strategy.

"We're thrilled to round out our executive leadership team with the appointments of Angela and Kurt," said Mr. Morris. "Together, they bring exceptional expertise in franchise development and operational execution, which will be critical as we look to resume thoughtful and profitable unit growth. Angela's operational rigor and ability to deliver performance at scale will elevate how we serve both our guests and franchise partners, while Kurt's track record of building high-impact franchise relationships and strategic expansion plans will be key to refining our sophisticated development approach. I'm confident they will make a meaningful impact as we strengthen our foundation and move into our next phase of growth."

**About Angela Jaskolski**

Ms. Jaskolski most recently served as Chief Store Officer at Madison Reed, where she led the brand's fast-growing Hair Color Bar channel, overseeing nearly 100 Hair Color Bar locations and driving significant performance gains, including increases in revenue, EBITDA and AUV. Prior to joining Madison Reed, she was Chief Operating Officer at Thrive Pet Healthcare, where she provided strategic and operational leadership for over 300 pet hospitals and more than 10,000 team members nationwide. Previously, Ms. Jaskolski spent over six years at Self Esteem Brands, where she held multiple leadership roles, including Chief Operating Officer and President of Waxing the City. As Chief Operating Officer, she provided strategic oversight and drove the operating model across a portfolio of fitness, wellness and nutrition businesses. During her tenure as President of Waxing the City, the company doubled its footprint, grew AUV and consistently delivered double-digit same-store sales growth. Earlier in her career, she held leadership roles at Regis Corporation, Pacifico's Salons and Aveda, building deep industry expertise in customer experience, franchise development and field operations.

**About Kurt Smith**

Mr. Smith most recently served as Vice President and General Manager of Pizza Hut Latin America and the Caribbean at Yum! Brands, where he led a team overseeing nearly 1,500 restaurants across 26 markets, delivering record-setting system profits and driving double-digit digital growth. He previously held senior roles as Chief Growth Officer for Pizza Hut in Latin America & Iberia and Chief Growth Officer for Pizza Hut Middle East, Turkey & Africa, where he expanded the brand into new markets, strengthened franchise partnerships and drove record unit growth. Earlier in his career at Yum! Brands, Mr. Smith held leadership roles in Pizza Hut US and Pizza Hut South Pacific. Before joining Yum! Brands, he held roles at Bain & Company, Hewlett Packard and Deloitte.

------

**About European Wax Center, Inc.**

European Wax Center, Inc. (NASDAQ: EWCZ) is the leading franchisor and operator of out-of-home waxing services in the United States. European Wax Center locations perform more than 23 million services per year, providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. The Company continues to revolutionize the waxing industry with its innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience, along with its collection of proprietary products to help enhance and extend waxing results. By leading with its values – We Care About Each Other, We Do the Right Thing, We Delight Our Guests, and We Have Fun While Being Awesome – the Company is proud to be Certified™ by Great Place to Work®. European Wax Center, Inc. was founded in 2004 and is headquartered in Plano, Texas. Its network, which includes more than 1,000 centers in 45 states, generated sales of $951 million in fiscal 2024. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.

**<u>Forward Looking Statements</u>** 

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to European Wax Center, Inc.'s strategy, outlook and growth prospects. Words including "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "seek," "should," "will," or "would," or, in each case, the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.

These forward-looking statements are based on current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the Company's actual results, performance or achievements to be materially different results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the operational and financial results of its franchisees; the ability of its franchisees to enter new markets, select appropriate sites for new centers or open new centers; the effectiveness of the Company's marketing and advertising programs and the active participation of franchisees in enhancing the value of its brand; the failure of its franchisees to participate in and comply with its agreements, business model and policies; the Company's and its franchisees' ability to attract and retain guests; the effect of social media on the Company's reputation; the Company's ability to compete with other industry participants and respond to market trends and changes in consumer preferences; the effect of the Company's planned growth on its management, employees, information systems and internal controls; the Company's ability to retain of effectively respond to a loss of key executives; a significant failure, interruptions or security breach of the Company's computer systems or information technology; the Company and its franchisees' ability to attract, train, and retain talented wax specialists and managers; changes in the availability or cost of labor; the Company's ability to retain its franchisees and to maintain the quality of existing franchisees; failure of the Company's franchisees to implement business development plans; the ability of the Company's limited key suppliers, including international suppliers, and distribution centers to deliver its products; changes in supply costs and decreases in the Company's product sourcing revenue; the Company's ability to adequately protect its intellectual property; the Company's substantial indebtedness; the impact of paying some of the Company's pre-IPO owners for certain tax benefits it may claim; changes in general economic and business conditions; the Company's and its franchisees' ability to comply with existing and future health, employment and other governmental regulations; complaints or litigation that may adversely affect the Company's business and reputation; the seasonality of the Company's business resulting in fluctuations in its results of operations; the impact of global crises on the Company's operations and financial performance; the impact of inflation and rising interest rates on the Company's business; the Company's access to sources of liquidity and capital to finance its continued operations and growth strategy and the other important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended January 4, 2025 and the Company's Quarterly Report on Form 10-Q for the period ended April 5, 2025, each filed with the Securities and Exchange Commission (the "SEC"), as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC's website at www.sec.gov and Investors Relations section of the Company's website at www.waxcenter.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that the Company makes in this press release

------

speaks only as of the date of such statement. Except as required by law, the Company does not have any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.

**<u>Investor Contact</u>** 

Edelman Smithfield

Ashna Vasa

EWCIR@edelman.com

**<u>Media Contact</u>** 

Zeno Group

Sophia Tortorella

sophia.tortorella@zenogroup.com

312-752-6851

------