Sally Beauty Holdings Overview As of June 30, 2013

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Company Highlights

Sally Beauty Holdings is a leading international specialty retailer

and distributor of professional beauty products

Annual consolidated sales of over $3.5 billion Strong cash flow generation Approximately 4,660 stores located in 11 countries (1)

Experienced and motivated leadership team Industry leading position with ~32% channel share Proven resilience in recessionary cycles Well-positioned for long-term growth Two distinct business segments

(1) As of June 30, 2013

Overview of Our Business

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Segments

Customers • 3,379 Stores worldwide

Consolidated Fiscal 2012 Results

• 1,223 Stores

• 995 Sales consultants

Overview – Who We Are

3,379 stores worldwide (1)

Retail consumers (75% of sales)

Professional stylists (25% of sales)

$2,199m 6.5% $430m 19.5%

Sales SSS growth EBIT EBIT margin

(1) Store count as of fiscal 2013 first quarter June, 30, 2013. Note: All financial results are for fiscal year-end September 30, 2012.

Segment

Distribution Channel

Customers

FY2012 Financials

Overview – Who We Are

$1,325m 6.1% $183m 13.8%

Sales SSS growth EBIT EBIT margin

(1) Store count as of fiscal 2013 first quarter June, 30, 2013. Note: All financial results are for fiscal year-end September 30, 2012.

Segment

Distribution Channel

Customers

FY2012 Financials

• 1,201 stores (1)

• 944 direct sales consultants (1)

• Professional stylists (chair/suite renters)

• Salons (via BSG’s direct sales consultants)

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Our Customer

Open-Line Retail Exclusive / Full-Service

3,379 stores 1,223 stores 995 consultants

Professional stylists Salons

` Retail Consumers $$$ High-end $ Value

Customers:

Distribution:

Note: Store count as of June 30, 2013.

SBH plays an important role in the supply chain

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$1.6 $1.7 $1.8 $2.0 $2.1 $2.2 $2.3 $2.4

$2.6 $2.7 $2.9 $2.9 $3.0 $3.1

$3.3 $3.4 $3.5

$3.7 $3.8 $3.8 $4.0

$4.2 $4.5

$-

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5

$5.0

($ in

bill

ions

)

U.S. Salon Industry Product Sales (at wholesale $’s) Growth

of 5.8%

Recession Resistant Industry

Stable & Consistent Industry Growth

Source: Professional Consultants & Resources, 2012 Study. (1) Based on manufacturer sales of professional beauty supplies in the U.S.

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Industry Channels of Distribution (U.S.)

Professional Beauty

Products ~$4.49 billion (1)

Distribution Channels

Mega-Salon Manufacturer direct to large-format salons

13% (2)

$0.6B

41% (2)

$1.8B

35% (2)

$1.6B

11% (2)

$0.5B

Direct Manufacturer direct to manufacturer-owned salons or “high-end” salons

Open-Line Distributes professional product to the public via retail stores

Competition: Local and regional operators

Exclusive / Full-Service Third party distribution to salons and beauty professionals via sales force and “professional only” stores

Competition: L’Oreal’s

Area of focus for SBH

Source: Professional Consultants & Resources, 2012 Study. (1) Professional beauty supply channel size based upon a 2012 study of manufacturer-level sales conducted by Professional Consultants & Resources. The study estimates that 2012 manufacturer-level sales for professional beauty supplies were approximately $4.49 billion. (2) Represents an estimated breakdown of salon haircare product sales in 2012 by channel of distribution.

Sally Beauty Holdings estimated U.S. channel share is 32%

Business Overview

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Sally Beauty Supply: Overview

Sally Beauty Supply global footprint

3,379(1) stores worldwide

2,675 stores in U.S. (including Puerto Rico)

704 stores in Canada, the UK, Ireland, Belgium, Netherlands, France, Germany, Spain, Chile & Mexico

Average store size 1,700 sq. ft., 90% selling space

Professional open-line business - merchandise assortment not available through mass retailers

Destination for Professional hair care and solutions

(1) As of June 30, 2013.

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Strong, Consistent Financial Track Record

$1,132 $1,208 $1,296 $1,359 $1,419$1,567 $1,673 $1,696

$1,835$2,012

$2,199

$1,674

$0

$400

$800

$1,200

$1,600

$2,000

$2,400

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD13

($ in millions)

Sally Beauty Supply Net Sales

2.7%

6.8%6.0% 5.7%

2.7%3.8%

2.4% 2.4% 2.7%

1.2%2.1%

4.1%

6.3% 6.5%

-0.30%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD13

Sally Beauty Supply Same Store Sales Growth

Growth of 1.8%

8%

8%

14%

10%

16%

22%

22%

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Sally Beauty Supply: Merchandise Offering

Hair Care

Hair Color

Skin and Nail Care

Electrical Appliances

Brushes, Cutlery and Accessories

Ethnic Products

Other Beauty Items

We offer a diversified mix of beauty products

Note: Percentage of sales by merchandise category for fiscal year 2012.

Almost 45% of Sales from Hair

Care & Color

Differentiated Value Proposition

Product Selection 4,000 to 8,000 SKUs

Comprehensive product assortment

“Sally Beauty sells the products my hairstylist uses.”

Beauty Supply to the Professionals High in-stock positions

Credible source of supply

Superior Customer Service Knowledgeable salespeople

50% of our store associates have cosmetology training

“I recommend Sally Beauty to clients with special hair needs.”

“I always find professional help from Sally Beauty associates!”

Reasons to shop Sally Beauty Supply stores creates customer loyalty

CRM and Beauty Club Card (BCC) Driving Sales

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• Retail customer is most attractive growth opportunity In 2008, launched U.S. customer acquisition program (CRM) to attract new, retail customers Increased efforts to convert retail customers to Beauty Club Card (BCC) members

CRM program targeting new retail customers; driving store traffic 3rd party profiled best BCC customers Identified non-customers that have the same attributes as our best BCC customers Send direct mailers to potential customers

• BCC membership doubled in four years

7.2 million members today BCC members represent 50% of retail sales Members shop more often and spend more per visit

• BCC database tracks customer shopping behavior

Provides rewards for purchases

Provides insight into customers hair care regime

Provides ability to target communication based on customer behavior

$5.00 fee for card; annual renewal

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Grow Sally Beauty Supply Internationally

704 Sally Beauty stores located in 10 countries

Stores located in Canada, the UK, Ireland, Belgium, France, Netherlands, Germany, Spain, Chile & Mexico

22% of Sally Beauty Supply sales from international

Sales mix differs from U.S.

~80-85% professional

~15-20% retail

Existing International Platform Long-Term Store Growth Potential (1)

(1) Store count as of June 30, 2013.

(Canada) ~250

(Mexico) 164 ~250

(UK / Ireland) 255 ~300

(Belgium, France, Germany, Spain, Netherlands)

160 600-800

(Chile) 38 ~45

Other South American Countries 0 green field

Total 704 ~1,500+

Potential Current

87

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Beauty Systems Group: Overview

Beauty Systems Group – 1,223 professional stores & 995 professional distributor sales consultants

1,063 company-operated / 160 franchised stores (Armstrong McCall)

995 professional distributor sales consultants

Average store size 2,700 sq. ft.

Sells to salons and salon professionals

Professional exclusive / full-service business – includes merchandise assortment of premium brands sold through salons and not available in mass or at Sally stores

(1) BSG operates stores under the CosmoProf service mark.

As of June 30, 2013, fiscal year -end

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BSG: Strong, Consistent Financial Track Record

$535$616

$802$895 $954 $945 $975 $941

$1,081$1,257 $1,325

$1,042

$0

$200$400

$600$800

$1,000$1,200

$1,400

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD13

($ in millions)

BSG Net Sales

5.8%

15.5% 14.4%

8.3%

4.4% 4.6%

8.5%

(0.6%)

4.1%

10.1%6.9%

1.0%

6.2% 5.5% 6.1%3.8%

(4.0%)

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 YTD13

BSG Same Store Sales Growth

Growth of 4.5%

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BSG: Merchandise Offering

We offer a diversified mix of beauty products not carried in Sally stores or mass retail

7%5%

10%

12%

30%

36% Hair Care

Hair Color

Skin and Nail Care

Electrical Appliances

Promotional Items

Other Beauty Items

Note: Percentage of sales by merchandise category for fiscal year 2012.

Almost 70% of Sales from Hair

Care & Color

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828 874 929 991 1,0271,151 1,190

0

400

800

1,200

2006 2007 2008 2009 2010 2011 2012

Beauty Supply Group Growth Initiatives

Expand store base organically Further penetrate existing geographies

Enter new territories

Opened 39 net new stores in FY2012

Expand gross margins as sales shift to the stores

Improve profitability

Optimize distribution network

Continue integration efforts

Broaden offerings with new suppliers

Seek potential fold-in acquisition opportunities

6 46 44 16 36 0 0 11 46 0

Organic

Openings

Acquisition

Capital Required $80k

Average Inventory $150k

Positive Contribution Margin 4 Months

Cash Payback on Investment 2 Years

Growth Initiatives BSG Stores

BSG Store Economics

39 85

39 0

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Numerous Opportunities for Growth

Increase Sales Productivity of our Stores

Expand our Store Base Organically

Grow Internationally

Increase Operating Efficiency and Profitability

Pursue Strategic Acquisitions

Consolidated Financial Results

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Solid Balance Sheet

No near-term maturities

In November 2011, refinanced Sr. and Sr. Sub Notes for $750mm of 6.875% Senior Notes due 2019

In May 2012, refinanced the Term Loan B with $700mm of 5.75% Senior Notes due 2021

Targeted consolidated pro forma leverage ratio of 2.0x – 2.5x

Ample liquidity

Strong cash flow

ABL Revolver of $500 million

Refinanced July 26, 2013; lowered rate and increased availability by $100 million

On Sept. 5, 2012, issued $150 million aggregate principal amount of 5.75% Senior Notes due 2022.

Funds to be used for general corporate purposes

Source: Company filings. (1) Represents pre-acquisition debt of Pro-Duo NV and Sinelco Group BVBA (“Sinelco”) and capital leases. (2) Excludes “Other” debt which matures between 2012 and 2014.

Long-term debt (as of 3/31/13)

Maturity Profile (as of 3/31/13) (2)

Amount ($mm)

% of Total Debt

5.750% Senior Notes (FY2022) $858.6 50.9% 6.875% Senior Notes (FY2020) $750.0 44.5%

Other (1) $1.6 0.1% Total Debt $1,685.7 100.0%

Total Capitalization $1,282 100.0%

$750 $859

$- $100 $200 $300 $400 $500 $600 $700 $800 $900

$1,000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

ABL $75.5 4.5%

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$59.5

Sales and EPS Growth for total Company

Sales

$2,514$2,648 $2,637

$2,916

$3,269

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

FY07 FY08 FY09 FY10 FY11 FY12

(1) Includes a negative impact from unfavorable foreign currency exchange of $86 million, or 3.2% of sales.

($ in millions)

(1)

EPS (ADJUSTED)

$0.32

$0.44$0.52

$0.77

$1.07

$0.00

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

2007 2008 2009 2010 2011 2012

Net Income $142.4 $95.9 $80.5 $200.3 4.5% Same

Store Sales 4.6% 1.8% 2.6% 6.1%

7.8% YoY

6.4%

32.7% YoY

$267.2

$3,524 $1.42

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Investment Highlights

Leader in Stable, Growing Professional Beauty Supply Channel

Multi-channel Platform with Differentiated Value Proposition

Strong, Consistent Financial Track Record

Significant Cash Flow Generation

Experienced and Motivated Management Team

Solid Growth Potential

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Addendum: Adjusted EBITDA Reconciliation

Adjusted EBITDA and EPS Reconciliation

($ in millions) Adjusted EBITDA FY06 FY07 FY08 FY09 FY10 FY11 FY12 1Q13 2Q13 3Q13Net Earnings (GAAP) 110.2$ 44.5$ 77.7$ 99.1$ 143.8$ 213.7$ 233.1$ 59.0$ 64.9$ 72.4$

Interest expense, net of interest income 0.1 146.0 159.1 132.0 113.0 112.5 138.4$ 26.7$ 26.8$ 27.0$ Provision for income taxes 69.9 38.0 46.2 65.7 84.1 122.2 127.9$ 36.2$ 36.2$ 43.1$ Depreciation and amortization 38.0 42.6 48.5 47.1 51.1 59.7 64.7$ 16.8$ 17.2$ 18.8$ Share-based compensation 5.2 13.1 10.2 8.6 12.8 15.6 16.9$ 9.1$ 3.3$ 3.2$ Transaction expenses (1a, 1b) 41.5 21.5 - - - - - - - -Sales-based service fee charged by Alberto-Culver 28.9 3.8 - - - - - - - -Non-recurring items - - - - - 5.7 - - - -Litigation settlement and non-recurring charges - - - - - (27.0) 10.2 - - -

Adjusted EBITDA 293.8$ 309.5$ 341.7$ 352.5$ 404.8$ 502.5$ 591.1$ 147.7$ 148.3$ 164.5$

Adjusted net earnings and adjusted diluted earnings per shareNet Earnings (GAAP) 143.8$ 213.7$ 233.1$ 59.0$ 64.9$ 72.4$

Marked-tomarket adjustment for certain interest rate swaps (2.4)$ - - - - -Loss on extinguishment of debt - - 37.8 - - -Interest expense on redeemed debt - - 5.1 - - -Amortization of deferred financing costs - - 0.2 - - -Litigation settlement and non-recurring items, net (2) (21.3) 10.2 - - -Tax provision for the adjustments to net earnings 0.9 7.9 (19.2) - - -

Adjusted net earnings 142.3$ 200.3$ 267.2$ 59.0$ 59.0$ 72.4$ Diluted adjusted net earnings per share (non-GAAP): 0.77$ 1.07$ 1.42$ 0.32$ 0.36$ 0.42$ Diluted GAAP net earnings per share: 0.78$ 1.14$ 1.24$ 0.32$ 0.36$ 0.42$

(1a) Transaction expenses of $41.5 for termination of the Regis transaction.(1b) Transaction expenses of $21.5 for separation of the Company from Alberto-Culver in November 2006.(2) Results for the nine months ended June 30, 2011, reflect a $27.0 mill ion benefit of a l itigation settlement and non-recurring charges of $5.7 mill ion.