WALD · Waldencast plc · Insider Trading

On August 28, 2026, Zeno Investment Master Fund purchased 335,000 Class A ordinary shares from Waldencast Ventures LP for $1.5094 per share.

Zeno Equity Partners LLP is the investment manager for Zeno Investment Master Fund, and the reporting person is the controlling shareholder of Zeno Equity Partners LLP. The reporting person disclaims beneficial ownership of the securities held by Zeno Investment Master Fund, except to the extent of his pecuniary interest therein.

Each RSU represents a contingent right to receive one Class A ordinary share, or an equivalent value in cash at the plan administrator's election.

Represents accelerated vesting of 79,289 outstanding restricted stock units ("RSUs") held by the reporting person in connection with the completion of the Issuer's sale of its Obagi Medical dermatological skincare and aesthetics business on July 30, 2026. Effective on the date of completion of such sale, the reporting person transitioned from the Issuer to lead Obagi Medical.

On October 30, 2024, the reporting person was granted 118,933 RSUs, which would have vested over a three-year period as follows: (i) 39,644 on October 1, 2025; (ii) 39,644 on October 1, 2026; and (iii) 39,645 on October 1, 2027.

Each restricted stock unit ("RSU") represents a contingent right to receive one Class A ordinary share, or an equivalent value in cash at the plan administrator's election.

Represents the Issuer's purchase of 264,294 outstanding RSUs held by the reporting person in connection with the completion of the Issuer's sale of its Obagi Medical dermatological skincare and aesthetics business on July 30, 2026. Effective on the date of completion of such sale, the reporting person transitioned from the Issuer to lead Obagi Medical.

On October 30, 2024, the reporting person was granted 396,440 RSUs, which would have vested over a three-year period as follows: (i) 132,146 on October 1, 2025; (ii) 132,147 on October 1, 2026; and (iii) 132,147 on October 1, 2027.

Each restricted stock unit ("RSU") represents a contingent right to receive one Class A ordinary share, or an equivalent value in cash at the plan administrator's election.

Represents the Issuer's purchase of 193,816 outstanding RSUs held by the reporting person in connection with the completion of the Issuer's sale of its Obagi Medical dermatological skincare and aesthetics business on July 30, 2026. Effective on the date of completion of such sale, the reporting person transitioned from the Issuer to lead Obagi Medical.

On October 30, 2024, the reporting person was granted 290,723 RSUs, which would have vested over a three-year period as follows: (i) 96,907 on October 1, 2025; (ii) 96,908 on October 1, 2026; and (iii) 96,908 on October 1, 2027.

Represents accelerated vesting of 79,289 outstanding restricted stock units ("RSUs") held by the reporting person in connection with the completion of the Issuer's sale of its Obagi Medical dermatological skincare and aesthetics business on July 30, 2026. Effective on the date of completion of such sale, the reporting person transitioned from the Issuer to lead Obagi Medical.

As described in the issuer's registration statement on Form S-1 (File No. 333-253370) under the heading "Description of Securities-Founder Shares," the Class B ordinary shares, par value $0.0001 per share, of the issuer will automatically convert into Class A ordinary shares, par value $0.0001 per share, of the issuer at the time of the issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to certain adjustment, and have no expiration date.

On July 25, 2022, Waldencast Long-Term Capital LLC distributed to its members in-kind, without consideration, all 8,545,000 Class B ordinary shares of the Issuer it held on a pro-rata basis. The above distribution did not involve any sale of shares by the reporting person.