Evolus Announces Inducement Grants for New Chief Financial Officer

Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced that the Compensation Committee of the Board of Directors approved the grant of stock options to purchase an aggregate of 169,158 shares of Evolus common stock and 36,443 restricted stock units (RSUs) to Sandra Beaver, the company’s new Chief Financial Officer. The stock options and RSUs were granted as of September 5, 2022 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 $9.06 per share, the closing price of Evolus’ common stock on September 2, 2022, the last trading day prior to Ms. Beaver’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. Beaver’s first day of employment. The RSUs vest 25% on each annual anniversary of Ms. Beaver’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. Visit us at www.evolus.com, and follow us on LinkedIn, Twitter, Instagram or Facebook.

Jeuveau^® and Nuceiva^® are registered trademarks of Evolus, Inc.

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

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