A MESSAGE FROM OUR CEOsMICHAEL CHU SCOTT DAHNKE

Remarkably, it was but one year ago that the mentorship and development. We are
commencement of a new decade created a immensely proud of our accomplishments and
palpable excitement for the future. The double our ability to adapt and evolve to find continued
concatenation of “2” and “0” prompted success during these unprecedented times.
comparisons to “20/20” (i.e., “perfect”) vision.
What a difference a year makes. Looking forward, the reset offered by the recent
flip in calendar ignites renewed feelings of
Indeed, in retrospect, 2020 was not exactly the optimism. While we will remain rooted in our
start to the decade for which we had hoped. The firm cultural values and continue to focus
impact of the COVID-19 global pandemic exclusively on building iconic and enduring
dominated the consumer and economic consumer brands, we are excited for what is to
narrative for the year, impacting all aspects of come. Though the road ahead will still be
our lives. It is in these most demanding and challenging and a better 2021 is anything but
dynamic times, underscored by change and certain, we face the future with a sense of energy,
uncertainty, that ideas are sparked, change is purpose, and hope. Perhaps the great 19th
enacted, and new opportunities are born. century English poet, Alfred Lord Tennyson, said
it best: “Hope smiles from the threshold of the
At L Catterton, we undoubtedly have much to year to come, whispering, ‘It will be happier.’”
celebrate and to be thankful for from the past
year. We have successfully navigated our
portfolios, invested in numerous leading
consumer brands from across the world, enjoyed
exceptional realizations, and raised over $3.5
billion of equity capital across our six fund
strategies. Perhaps most importantly, we
continued to add talent, growing our capabilities J. Michael Chu Scott Dahnke
while remaining focused on our team’s

LOW EGO COURAGE

COMMITMENT TO CURIOSITY
EXCELLENCE
COLLABORATION
CANDOR
CHARACTER
CREATIVITY

CONTINUOUS
IMPROVEMENT

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L CATTERTON SNAPSHOT

$23bn equity capital under management,

approximately1

6 fund strategies

18 offices across 5 continents

200+ investments since the firm’s

inception in 1989

150+ investment and operating

professionals

2020 FINANCIAL HIGHLIGHTS

$3.5bn equity capital raised in

2020 25% year-over-year growth in FMV

20 $2.3bn+ $4.0bn+
new investments in dollars
with co-
20202 invested or
investment
committed

12
investments fully or partially exited in
2020 $4.0bn gross realizations
(incl. prior realizations)3

3.7x gross MOIC on gross realizations (incl. prior realizations) in

2020 3

45+ additions to L Catterton headcount in

2020

(1) Includes co-investment.

(2)Includes Jio cross-fund investments (L Catterton Europe and L Catterton Asia)
(3) Note: Gross returns do not include the impact of management fees, carried interest/promote, or other fees and expenses that are borne by investors in each of the respective funds,
details of which are found in the organizational documents for each of the respective funds and, in the case of L Catterton’s Flagship Buyout, Growth, and Latin America funds, the form
ADV Part 2A for Catterton Management Company, LLC. Net returns are inclusive of these fees and expenses. All figures are inclusive of capital attributable to investors that may have
different economic terms, including commitments made by sponsor investors or other investors with reduced or no management fees or carried interest.
Gross realizations as of 12/31/2020 for exits completed since 2018 reflects the value of cash proceeds received and remaining public stock positions valued as of 12/31/2020 and excludes
complete write-offs that occurred during the same period. 3
OUR EXPERIENCE THROUGH THE PANDEMIC

The spread of COVID-19 has had a profound • The firm has worked alongside many portfolio
impact on people and businesses throughout companies to:
the world. At L Catterton, our sincere thoughts  Provide healthy meals to medical
and well wishes are with all those affected by this professionals
pandemic, and we remain committed to  Raise funds to provide protective masks to
supporting our local communities. healthcare workers in New York City
In these uncertain times, we are proud of the  Donate proceeds through May 1st to Direct
remarkable efforts our firm and portfolio Relief to help advance the humanitarian
companies have undertaken globally to support organization’s COVID-19 relief activities
those in need, inspiring hope and optimism even  Provide diapers, wipes, and personal care to
in the darkest of times. A number of illustrative families impacted by the spread of COVID-
examples of our give-back, among others, are 19
listed below. Such efforts to support local  Launched programs offering free lunches
communities continue across the portfolio. to kids who depend on the public school
system for meals
• L Catterton and its Partners have given over  Donate mattresses and pillows to outfit
half a million dollars to organizations that are emergency pop-up hospitals; launch
providing assistance to healthcare workers various media campaigns to encourage
and those most in need. people to support local businesses
• Many L Catterton employees have elected to  Establish long-term partnerships with
direct a portion of their compensation to a numerous charities; offer discounts for NHS
non-profit fund providing support to various workers
local food programs.  Launch reusable masks; donate a portion of
• The firm has leveraged our global supply sales to UN Women’s global programs to
chain capabilities and our proprietary network support and protect women on the
to source and donate approximately 17,000 frontlines of COVID-19, especially those who
masks to area hospitals and healthcare are experiencing domestic violence
workers.  Donate food to food bank networks;
establish employee relief funds to support
affected employees
 Launch initiatives to donate household
essentials to locals in need
 Donate medical supplies to various local
providers in the Canadian healthcare
system, while also supporting independent
practitioners by offering webinars and
online resources

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OUR CONSUMER INSIGHTS

Our Perspective on COVID-19 has not changed

consumers’ fundamental wants &
The Future of needs but it has changed how
The Consumer consumers fulfill those needs.

The consumer is adapting and

adjusting, trying a range of ways
to satisfy these wants and needs.

3 4

Some of these changes will be Those changes that do endure

permanent, but most will are often accelerations of
be temporary. long-term trends.

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2020 NEW SENIOR TALENT ANNOUNCEMENTS

Chris North Scott Chen

Managing Partner Co-Managing Partner
Global Growth Asia
Pres & CEO, Shutterfly Partner and Managing Director,
Managing Director, Amazon TPG China
Europe & UK

Jennifer Reid Michael Mitterlehner

Partner Partner
Flagship Global Growth
Managing Director, Bank of Vitruvian Partners
America Merrill Lynch

Marina Jovanovic Jeremy Sanders

Managing Director, IR Operating Partner
Europe Europe
Principal, Rede Partners UK Country Head, OYO Hotels

Whitney Casey Derex Walker

Venture Partner Chief Risk Officer
Global Growth Global
Founder and CEO, Finery Partner, Yucaipa Companies

Jeff Weiser
Operating Partner
Cross Fund
CMO, Shopify

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2020 SENIOR PROMOTIONS ANNOUNCEMENTS

Matt Leeds Matt Lischick

Partner Partner
Flagship Flagship

Ramiro Lauzan Taka Shimizu

Partner Partner
Latin America Asia

Monica Davis
Managing Director
Investor Relations

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 2020 NEW INVESTMENTS

The largest pure-play Fully end-to-end digital A rapidly growing, global A category-leading cruise The nation’s largest at-
online pet retailer in platform that allows better-for-you fermented operator with three home fitness equipment
Brazil consumers to browse beverage platform distintive banners provider
and buy used cars in the
U.K.

An optometrist-owned A digitally native, The leading online travel A Japan-based mineral The leading direct-to-
and vertically integrated membership driven, one- agency in Latin America makeup and ceramide consumer human-grade,
operator of branded stop shop that offers skincare cosmetics fresh dog food brand in
optical stores across high-quality, sustainable company the U.K.
Canada essentials across grocery,
household, and personal
care

A leading plant-based An on-demand, text- A rapidly growing, highly A digitally-native vertical A leading creator of
products company in based primary care disruptive consumer apparel / accessories customizable hair, skin,
Latin America that platform fintech business in the brand originally founded and body care products
mortgage lending space on a vision to display its
costs and factory origins
up-front through “Radical
Transparency”

A leading French urban An Indian telecom, tech The leading industry The leading Italian online
casualwear brand and digital services innovator, manufacturer, supplement retailer
offering functional, platform of Reliance and marketer of branded
comfortable, and Industries Limited functional truck and
versatile light down Jeep accessories
jackets for all generations

20 $2.3bn+ $4.0bn+
Dollars invested or With co-
New investments in 20201 committed investment

(1) Includes Jio cross-fund investments (L Catterton Europe and L Catterton Asia) 8
 2020 EXITED OR RECENTLY LISTED INVESTMENTS

A leading producer and One of top three local A leading U.K.-based The largest and most A leader in the at-home
distributor of hot sauce Chinese skincare brands manufacturer and influential masstige fitness category through
with a strong nationwide marketer of premium pet fashion platform in merging award-winning
multi-channel food China. A portfolio of product design with
distribution system brands covering proprietary technology to
women’s and men’s provide on-demand
fashion, children’s access to instructor-led
fashion and accessories. group fitness classes

Taiwan’s leading clinical
skincare brand
The largest online dealer A premier South Korean An iconic Australian A leading vertically
of used cars offering a entertainment company footwear brand that integrated, brand-led pet
superior experience for based in Seoul focuses on high quality food platform,
buying and selling low footwear, clothing, and
mileage, high quality, leather accessories
pre-owned cars

The largest and most Fast-casual restaurant

trusted direct-to- concept offering a highly
consumer brand in the differentiated and diverse
pool and spa industry menu

12 Investments fully or
partially exited in 2020

3.3x Average gross MOIC on gross

realizations (incl. prior realizations )1
since 2018
$7.2bn+ Gross realizations (incl. prior
realizations)1
since 2018

(1) Note: Gross returns do not include the impact of management fees, carried interest/promote, or other fees and expenses that are borne by investors in each of the respective funds,
details of which are found in the organizational documents for each of the respective funds and, in the case of L Catterton’s Flagship Buyout, Growth and Latin America funds, the form
ADV Part 2A for Catterton Management Company, LLC. Net returns are inclusive of these fees and expenses. All figures are inclusive of capital attributable to investors that may have
different economic terms, including commitments made by sponsor investors or other investors with reduced or no management fees or carried interest. Gross realizations as of
12/31/2020 for exits completed since 2018 reflects the value of cash proceeds received and remaining public stock positions valued as of 12/31/2020 and excludes complete write-offs that
occurred during the same period.
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AWARDS, HONORS, AND RECOGNITIONS

International Private Equity Firm of the

Year
2015, 2016, 2017, 2018, 2019, 2020

Cross-Border Deal of the Year

between $50 and $100mm
Investment in Odonto Company in Brazil

L Catterton Receives 2020 Operational Excellence Award from Private

Equity International for Operating Value Creation at Peloton

L Catterton has won the PEI Operational Excellence Award 4 times

2014 2018 2019 2020

In recognition for In recognition for In recognition for In recognition for

Restoration Ainsworth Pet Zarbee’s Naturals Peloton
Hardware (RH) Nutrition

5.6x 8.0x 9.7x 10.0x

Gross MOIC Gross MOIC Gross MOIC Gross MOIC

Ranked #41
in the 2020 PEI
Americas Private USA Outstanding
300, Private Equity
Equity Firm of the Year Firms (Private Equity,
International’s list
Consumer Sector) Certification as a
of the world’s
largest private Great Place to
equity firms Work®

Americas PE Deal of the Brazil PE Deal of the Year

Year
L Catterton’s
L Catterton investment in
named to Inc’s 50 Norwegian Cruise
Investments & Acquisitions Line featured in
Founder-Friendly Deal of the Year (Large)
(Growth Investment, Small) Forbes as an
Private
Equity Firms online Daily Cover
Story
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INFRASTRUCTURE LEADERSHIP

L CATTERTON HAS BUILT A ROBUST INFRASTRUCTURE, LED BY AN EXPERIENCED LEADERSHIP TEAM

Dennis Ever Dan Reid

Rob Hull
Partner, Head of Global Investor Chief Compliance Officer
Partner, Global CFO & COO
Relations and General Counsel

Jimmy Katie Ryan Morris Nicolas

Simmons Jill Ramirez Elizabeth Dave
Matarazzo Director Frank Albano Desbois Jim Steinthal
Director, Chief Freechack McPherson
Director Director Global Senior V.P. Partner, Group General
Accounting Deputy General Chief Legal
Business Business Controller and Treasurer CFO, Europe Counsel, Asia
Officer Counsel Officer
Intelligence Intelligence CFO, Asia and Real Estate

Tom Steinthal Liz Urdang Derex Walker

Chief Information Officer Chief Human Resources Officer Chief Risk Officer

AS A FIRM, WE REMAIN FOCUSED ON OUR OPERATIONAL PRIORITIES

Support for Investors Support for Portfolio Companies

• Investor Portal Dashboard • Applicant Tracking System for

• ESG Partnership with Malk Talent Mgmt.
Group • Global Supply Chain Database
• Fundraise Tracking on • Cybersecurity Enhancements
Salesforce CRM
• Bloomberg FX Connectivity

Support for Business Functions Support for Employees

• iLevel Enhanced Portfolio • Global Intranet Enhancement

Company Database • Upgraded External Website
• Advanced Budgeting Solution • Onboarding Training
• Vendor Due Diligence Improvements
• Global Concur T&E

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OUR FOCUS ON ESG

L Catterton is committed to championing diversity and inclusion among our teams,

minimizing the environmental footprint from our offices, and responsible investing
across our portfolios

SELECT FIRM HIGHLIGHTS FROM THE PAST TWO YEARS

Hired 45+ employees globally, LEED Platinum® certified HQ in Signed the CEO Action for Diversity
roughly half of whom are female Greenwich and Inclusion pledge , the UNPRI,
and ILPA’s Diversity in Action
initiative

Certified as a Great Place to Work Expanded our long-standing Conducted internal ESG diligence
® twice as a testament to our Women’s Initiative Committee into with Malk Partners on all new
culture a global Diversity and Inclusion investments and have begun
Committee, to pursue all of our annual monitoring procedures for
Diversity and Inclusion initiatives in 2021
a coordinated manner, following
ILPA’s Diversity and Inclusion
Roadmap for Private Equity as a
framework

12
OUR FOCUS ON ESG

FIRM SPOTLIGHTS

We are an equal
opportunity employer;
over 50% of pre-MBA
investment Associates in
the Americas are from
underrepresented
groups, and we are
focused on developing
diverse talent across our
ranks. At senior levels, we
are focused on both
diverse recruitment as
well as retention and
development of our
existing diverse talent.
All employees are We actively support Our ESG Policy was
offered comprehensive women in business. adopted in 2015 and is
benefits, including 100% Numerous portfolio based on the principles
PPO medical coverage, companies have female set forth by the
generous parental leave, founders/leadership, internationally
401(K) plan with match almost all our portfolio recognized UNPRI.
and Roth options, fully companies have women
equipped gym on-site at the board level Our ESG Committee,
with weekly classes, as comprised of individuals
well as on-site options for from each of our fund
healthy breakfasts, strategies, was
lunches, and dinners. established to develop a
framework for evaluating
companies against ESG
considerations.

We are dedicated to giving back to We are focused on identifying and implementing

our communities, offering a matching program
to further promote employees’ philanthropic
efforts and hosts periodic volunteer events in
partnership with local organizations including
Feeding Westchester.
positive ESG value drivers through programs such
as the FedEx Carbon Footprint Initiative which have
had an impact at the firm and portfolio level.

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ABOUT US

The World’s Leading Consumer Growth Investor

With approximately $23 billion of equity
capital across six fund strategies in 18 offices
globally, L Catterton is the largest consumer-
focused private equity firm in the world. L
Catterton's team of more than 150 investment
and operating professionals partners with
management teams around the world to
implement strategic plans to foster growth,
leveraging deep category insight, operational
excellence, and a broad
thought partnership network. Since 1989, the
firm has made over 200 investments in
leading consumer brands. L Catterton was
formed through the partnership of Catterton,
LVMH, and Groupe Arnault. For more
information about L Catterton and for a
complete list of investments made by L
Catterton, please visit www.lcatterton.com.

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