Brilliant Earth Group, Inc. Class A Common Stock 17th Annual Midwest IDEAS Conference

Great. Thanks, Earl, and thanks everyone for joining us for the presentation. It's a pleasure to be here at the IDEAS Investor Conference. Before we get in, we have our forward-looking statements and non-GAAP financial metrics disclosures, which can also be seen in this presentation, which will be on our investor relations website. To provide a bit of introduction on Brilliant Earth, Brilliant Earth is really the next-generation fine jewelry for today's consumer, and we're really founded on a mission to transform and modernize the jewelry industry and been successfully doing so over the last 21 years. I think we've been able to do this through a variety of different factors. One is our sustained, authentic, mission-driven focus to really drive a sustainable, compassionate jewelry industry. I think another is with our beautifully crafted products and trend-leading designs.

We've won many design awards in the industry, have done innovative collaborations ranging from our Jane Goodall Collection collaboration, our Sol Collection, pieces that are worn by celebrities, so really known as leaders in design in the industry. We also underpin the customer experience with a really seamless omni-channel shopping experience. So whether you're shopping with us digitally or in one of our 43 showrooms, really providing an elevated premium experience that stands out from what you get in the rest of the industry. Underpinning this, we have an asset-light, digitally and data-enabled model that has allowed us to move very nimbly through a variety of different environments and allowed us to grow and gain share in a very large industry.

I mentioned a number of these before, but really wanted to focus on the brand and the product and the experience. Really with the brand side, fostering authentic and deep connections with our customers. Today's jewelry customers, millennials and Gen Zs, they are really looking for authentic connections with the brands that they engage with, and we are able to do so. They are very selective in who they want to wear and who they want to be associated with, and our authenticity really stands out in this space. Our distinctive products that I talked about before are just really notable for their design excellence and craftsmanship that really shines throughout our engagement ring, our wedding band, and our fine jewelry assortment.

On the experience side, really just to bring together what I was just talking about, really setting new standards in luxury retail, and that is wherever you are engaging with us. That could be in our showrooms, digitally, calling in, really providing an integrated, seamless experience however you want to get to know and shop with Brilliant Earth. Just touching a little bit more broadly about some of the opportunity for us. The jewelry industry is massive. It is a $350 billion industry worldwide. It is also very fragmented. About two-thirds of the industry is comprised of smaller independents, and that level of fragmentation is unusual for a retail industry. That is a lot of opportunity for us for gaining share. We have an agile business model that I described earlier that can really swiftly adapt to a variety of different conditions.

We operate in an asset-light model that I am going to go into more details on a bit later. We underpin all of this with data and technology, including the use of AI to inform our decision-making. We have that omni-channel experience that I described and a strong resonance with our customers. Just a little bit more context on the industry. Besides the size, the market is expected to grow at about a 5% CAGR over the next five years from 2025 to 2030. Bridal purchases are an enduring tradition and resilient tradition with about 2 million annual marriages just in the U.S., and we represent less than 1% of the market. While we are at scale, the opportunity to grow and scale is very significant, and we are just at the starting point of the growth opportunity that we can capture at Brilliant Earth.

The next page here just talks about some of the major milestones throughout our history, so I will let you take a look at these. I think what we highlighted here is beyond financial metrics, product leadership, expansion into different countries, product innovations, giving back to our communities, and many other moments. You can see just the trajectory of ongoing leadership in products, in growing the top line, opening showrooms, giving back to the community, innovative partnerships, product leadership, and I think that is really how we think about how we continue to transform the industry. This has led to a history of net sales and order growth.

In the period between 2019 and 2025, we grew top line at a 14% CAGR during that period, and over the same period had an even bigger expansion in growth with a 23% six-year CAGR in total orders between 2019 and 2025. These are just a few examples of our trend-leading product assortment. You can see here highlighted some of our engagement rings, wedding and anniversary bands, some of our medallions on the right-hand side, and then also some of our proprietary collections on this next page, including some of the partnerships that I mentioned earlier, like the Jane Goodall Collection, which we have done two different collections with her and her foundation, the Sol Collection, as well as some of our recent pieces in fine jewelry like our Keepsakes collection, our Pacific Green Lab Diamond.

In diamonds and gemstones, in jewelry, we are known for design leadership, for innovating and creating unique products that you can only get at Brilliant Earth. This page talks a bit about our personalization capabilities. We have an agile product development cycle and an innovative design your own model, which really allows personalization at scale for things like engagement and wedding and anniversary rings. You come to us and we personalize a ring. It is the unique stone that you want, built to your specification with your choice of metal type, size, and how you want to stack an engagement and wedding band.

We can do this personalization at scale and at speed, and that is very hard to do, and that has only come over time with working closely to develop capabilities with our partners, have technology integrations at the back end to be a trusted supplier to allow us to do this at scale. Then you can also go fully custom if you would like to create a one-of-a-kind design with us. We have an asset-light inventory model. One of the things that you see here is that we have inventory turns of 4 times. This is significantly higher than the rest of the industry. The industry average turns maybe 1 or 2 times. This agility and asset-light model allows us to stay nimble in terms of working capital, but we can still offer a breadth of assortment.

We have hundreds of thousands of diamonds available to our customers, but the vast majority of these are not on our balance sheet. We have the capability through our supplier relationships and integrations to bring them in quickly when they are ordered, so you can get your product within 2 or 3 weeks, but we can keep our balance sheet light, and this is a major advantage for us in that we can offer that breadth, but also have the lightness of balance sheet that allows us to have very efficient working capital. Our supply chain is globally diversified. We have supply chain partners in the U.S. and across North America, as well as in countries as shown here. That really allows us to have that breadth and reduces our dependence on any one given geography.

This next page just highlights some of the technology-enabled and data-driven ways that we look at data. Whether it is how we look at pricing, how we analyze the customer journey and customer sentiment, how we deploy marketing spend, how we place showrooms, it is deeply embedded in how we operate to use technology and data to inform those decisions and drive compelling ROI. Just to take a moment on the omnichannel experience, we have highlighted here some aspects of both the showroom experience as well as the digital experience. So we have 43 showrooms as of right now that really provide a premium, elevated experience, whether you are scheduling an appointment or walking in and discovering us for the first time that day.

We have continued to innovate on the showroom experience with some of the recent innovations, including a try-on bar, which allows you to more intimately access and style and get design ideas about how you want to wear your Brilliant Earth jewelry. So we have rolled that out in a number of different showrooms, and that has been very successful. We also, for example, in our Beverly Hills showroom, most recently have introduced things like Date Night, which is a very special experience, often booked out weeks in advance, where a couple shopping for an engagement ring can come in and have champagne and light bites while they shop for their engagement rings, photography. So really making it a very special part of your purchase journey and your engagement experience.