Brilliant Earth Group, Inc. · NASDAQ:BRLT

Brilliant Earth — Q1 2023 Earnings Presentation

16 slides from Brilliant Earth's earnings presentation, May 11, 2023

1. Slide 1: First Quarter 2023 Financial Results

   First Quarter 2023 Financial Results May 11, 2023

2. Slide 2: Forward-Looking Statements

   Forward-Looking Statements This Presentation and statements to be made on the earnings conference call (collectively, the “Presentation”), contain forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements containe

3. Slide 3: Mission-Driven Ethos; global leader in fine jewelry

   Mission-Driven Ethos Brilliant Earth is a global leader in fine jewelry. Personalized, Digitally Native, Joyful We are successfully Tech-Driven Omnichannel and Customer- Customer executing our strategy to Obsessed Experience transform and modernize Unique and the jewelry industry. Award-Winning Desi

4. Slide 4: Net Sales, Gross Margin and Adjusted EBITDA

   NET SALES ($MILLIONS) GROSS MARGIN ($MILLIONS) ADJUSTED EBITDA ($MILLIONS) $100.0 54.9% $8.4 $97.7 50.1% $5.5 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 YoY YoY GROWTH OF NET SALES OF NET SALES 4

5. Slide 5: Path to become the premier global jewelry brand

    Continue on our path to become the premier global jewelry brand for today’s consumer  Expand and refine distinctive, high-quality product offering  Expand and elevate omnichannel experience  Invest in technology and systems to enable continued profitable growth 5

6. Slide 6: Grew Q1 share of voice with 85% more media impressions

    Grew Q1 share of voice with 85% more media impressions than last year  Executing moments with trend- leading products with influencers like Nick Viall from The Bachelor sharing his proposal with a Brilliant Earth ring and Kelsea Ballerini wearing Brilliant Earth at the Grammys  Among top jewelry

7. Slide 7: Increasing Awareness, Leveraging Influencers and Partnerships

   Increasing Awareness  Aided Brand Awareness with our demographic grew to 66%, up 12 points from our measurement ~2 years ago  Expansion of reach reflected in growing fine jewelry self-purchases Leveraging Influencers  Generated 68% y/y growth in fine jewelry and Partnerships orders during Valenti

8. Slide 8: Strong bridal offering with new proprietary designs

    Strong bridal offering with new, trend-leading and proprietary designs  Launched the Mosaics Collection in Q1, reinforcing design leadership with distinctive engagement rings and wedding bands 8

9. Slide 9: Launched new showrooms in 2023, total of 31

    Have launched 6 new showrooms in 2023 – Charlotte, Brooklyn, Tampa, Pasadena, Nashville and Fairfax, bringing our total number of showrooms to 31  Continue to test and evolve showroom concepts and executions, including new formats like mall-based showrooms  Showrooms opened at least one year hav

10. Slide 10: Seamless consumer experiences across digital and showroom

     Seamless, frictionless consumer experiences across digitally native and showroom environments  Showroom experience and formats that enhance customer engagement  Industry-leading features that optimize consumers’ experiences online  Online waitlist to provide convenient appointment booking 10

11. Slide 11: Vast industry ripe for disruption; agile business model

    VAST INDUSTRY THAT IS RIPE FOR DISRUPTION AGILE BUSINESS MODEL THAT CAN SWIFTLY ADAPT USING DATA TO INFORM DECISION-MAKING ASSET LIGHT MODEL NOT BURDENED BY HOLDING EXCESS INVENTORY OMNICHANNEL MODEL PROVIDES A JOYFUL, SEAMLESS SHOPPING EXPERIENCE OUR VALUES STRONGLY RESONATE WITH OUR CUSTOMERS 11

12. Slide 12: Net Sales, Total Orders and AOV

    NET SALES ($MILLIONS) TOTAL ORDERS (IN THOUSANDS) AOV $100.0 $97.7 $3,090 35.6 32.4 $2,742 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 ORDERS YoY GROWTH 12

13. Slide 13: Long-term targets: net sales growth, gross margin, EBITDA margin

    NET SALES GROWTH RATE: HIGH 20s TO LOW 30s % GROSS MARGIN: MID 50s % MARKETING % OF NET SALES: MID TO HIGH TEENS ADJUSTED EBITDA MARGIN: 15-20%+ 13

14. Slide 14: 2023 Outlook

    2023 Outlook Fiscal Year $460m-$490m NET SALES $17m-$32m ADJUSTED EBITDA

15. Slide 15: Appendix

    Appendix

16. Slide 16: Adjusted EBITDA and Adjusted EBITDA Margin

    Three months ended ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN March 31, (Unaudited and $ in 000’s) 2023 2022 Net (loss) income, as reported $(440) $3,369 Interest expense 1,206 1,776 Income tax (benefit) expense (13) 96 Depreciation expense 951 349 Amortization of cloud-based software implementation

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