Evolus Announces Inducement Grants for New Chief Marketing Officer

Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a focus on building an aesthetic portfolio of consumer brands, today announced that the Compensation Committee of the Board of Directors approved the grant of stock options to purchase an aggregate of 83,555 shares of Evolus common stock and 63,358 restricted stock units (RSUs) to Tomoko Yamagishi-Dressler, the company’s new Chief Marketing Officer. The stock options and RSUs were granted as of August 21, 2023 and were approved in accordance with Nasdaq Listing Rule 5635(c)(4) as a material inducement to the employee’s acceptance of employment with the company.

The stock options have an exercise price of $9.40 per share, the closing price of Evolus’ common stock on August 21, 2023, the last trading day prior to Ms. Yamagishi-Dressler’s start date. The stock options have a 10-year term and vest over 4 years, with 25% of the number of shares subject to the option vesting on each annual anniversary of Ms. Yamagishi-Dressler’s first day of employment. The RSUs vest 25% on each annual anniversary of Ms. Yamagishi-Dressler’s start date. Both the stock options and the RSUs are subject to acceleration in certain events including certain terminations or upon certain terminations in connection with a change in control of Evolus. The stock options and RSUs were granted outside of Evolus’ 2017 Omnibus Incentive Plan.

About Evolus, Inc.

Evolus (Nasdaq: EOLS) is a performance beauty company evolving the aesthetic neurotoxin market for the next generation of beauty consumers through its unique, customer-centric business model and innovative digital platform. Our mission is to become a global, multi-product aesthetics company based on our flagship product, Jeuveau^® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Evolus is expanding its product portfolio having entered into a definitive agreement to be the exclusive U.S. distributor of Evolysse™, a line of five unique dermal fillers currently in late-stage development. Visit us at www.evolus.com, and follow us on LinkedIn, Twitter, Instagram or Facebook.

Jeuveau^® and Evolysse™ are trademarks of Evolus, Inc.

Hi-Pure^™ is a trademark of Daewoong Pharmaceutical Co, Ltd.

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