Helen of Troy Limited · NASDAQ:HELE
Helen of Troy — Merger or Acquisition (November 2026)
11 slides from Helen of Troy's merger presentation, Nov 12, 2026
Slide 1: Acquisition of Helen of Troy
Acquisition of Helen of Troy November 12, 2026
Slide 2: Disclaimer & Legal
2 Disclaimer & Ledger THIS PRESENTATION IS FOR DISCUSSION AND INFORMATIONAL PURPOSES ONLY. THE VIEWS EXPRESSED HEREIN REPRESENT SOLELY THE OPINIONS OF EMPOWER BRANDS HOLDINGS GROUP, LLC (“EMPOWER BRANDS”) AS OF THE DATE HEREOF. EMPOWER BRANDS RESERVES THE RIGHT TO CHANGE OR MODIFY ANY OF ITS OPINION
Slide 3: Refusals to Engage Leading to Value Erosion
3 Refusals to Engage Leading to Value Erosion Compelling Premium and Value ● All - cash offer of $37.00 per share ● Approximately 31% premium to the volume - weighted average price of Helen of Troy's shares for the 30 trading days ended October 3 0, 2026 ● March 2025: Empower Brands submitted a merg
Slide 4: HELE Faces Fundamental Standalone Challenges
4 HELE Faces Fundamental Standalone Challenges Persistent revenue challenges, heightened competition and uneven brand performance have pressured sales, with limited visibility into the timing and sustain ab ility of a return to organic growth × An unfocused and inefficient brand portfolio spreads bo
Slide 5: HELE Standalone Plan Not Credible: What HELE Wants You to Believe vs. Reality
5 HELE Standalone Plan Not Credible: What HELE Wants You to Believe vs. Reality CAGR to FY27 Guidance 1,2 Reality HELE Management 5 - Yr Outlook Low - to - Mid Single Digits Net Sales Growth High Single Digits Adj. EBITDA Growth Mid - to - High Teens Adj. EPS Growth ~75% by Year 5 Free Cash Flow Con
Slide 6: No Basis to Believe the HELE Standalone Plan: Significant Challenges
6 No Basis to Believe the HELE Standalone Plan: Significant Challenges HELE Shareholders Should Not Be Asked to Bear the Risk of Another Uncertain Turnaround Consistently Delivered Negative Results; Eroded Wall Street Confidence In 2023, Two - thirds of Current HELE Board Misguided Shareholders to a
Slide 7: In 2023, Two-thirds of Current HELE Board Misguided Shareholders to a $200+ Share Price
7 In 2023, Two - thirds of Current HELE Board Misguided Shareholders to a $200+ Share Price During its 2023 Investor Day, Helen of Troy introduced its “Elevate for Growth” strategy for FY2025 - FY2030. It included a chart to provide guidance to shareholders on the value from its plan Source: Helen o
Slide 8: HELE 5-Year Return is Among the Worst of its Peers
8 HELE 5 - Year Return is Among the Worst of its Peers Based on Helen of Troy’s reference companies in proxy 1 and S&P 500 65% 30% 13% 4% 0% (10%) (18%) (21%) (21%) (35%) (56%) (60%) (71%) (86%) (87%) (100%) 5 - Year Total Shareholder Return Peer Median S&P 500 Source: FactSet as of October 30, 2026
Slide 9: Consistently Delivered Negative Results; Eroded Wall Street Confidence
9 Consistently Delivered Negative Results; Eroded Wall Street Confidence $1,600 $1,800 $2,000 $2,200 Oct-22 Oct-23 Oct-24 Oct-25 Oct-26 FY24E FY25E FY26E FY27E FY28E $150 $300 $450 Oct-22 Oct-23 Oct-24 Oct-25 Oct-26 FY24E FY25E FY26E FY27E FY28E Source: FactSet as of October 30, 2026 Consensus expec
Slide 10: HELE Shareholders Should Not Be Asked to Bear the Risk of Another Uncertain Turnaround
10 HELE Shareholders Should Not Be Asked to Bear the Risk of Another Uncertain Turnaround Shareholders Face a Clear Choice A Clear Path Forward Standalone Helen of Troy Uncertain, multi - year recovery Significant execution risk Continued investment required with limited financial flexibility Histor
Slide 11: We Urge You to Contact the Company
11 We Urge You to Contact the Company We urge you to contact the HELE Board and tell them that you support this transaction and want the Company to engage with us. You can contact the Company at: Chris Robertson Investor Relations [email protected] Anne Rakunas Investor Relations investors@he
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