America’s #1 facial skincare¹ brand expanding and accelerating collaboration with dermatologists to foster innovation

Kenvue Inc. (NYSE: KVUE) (“Kenvue”), the world’s largest pure-play consumer health company by revenue, today announced its Neutrogena^® brand is taking dermatological beauty to the next level by establishing multi-year partnerships with Dr. Dhaval Bhanusali, renowned skincare innovator, and Dr. Muneeb Shah, the most followed dermatologist worldwide².

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This collaboration reinforces Neutrogena^®’s commitment to fusing beauty and science to deliver advanced clinical efficacy and extraordinary product experiences. It also builds on existing partnerships with a diverse network of global dermatologists who are actively involved in product development, clinical studies, and educational initiatives. Looking ahead, Neutrogena^® aims to advance the science of dermatology to better address gaps in the category and help shape the future of skincare by increasing collaboration with the dermatologist community.

“We look forward to strengthening our leadership in dermatological beauty and deepening our connections with the healthcare professional community, retailers and consumers,” said Chris Riat, Global Neutrogena^® Brand Leader. “We are excited to work closely with leading experts like Dr. Bhanusali and Dr. Shah, who share our passion for advancing dermatological science and obsession with product formulation and experience.”

Dr. Bhanusali is a pivotal figure in the global skincare industry and a renowned skincare formulator.

Dr. Shah is widely recognized for his insights on consumer behavior and for successfully using social media to make dermatology accessible.

Together, they are raising the profile of dermatology and reshaping its importance in skin health and beauty.

As Global Innovation Partners, they will work with Neutrogena^® in three areas:

• Innovation acceleration: partnering with the Company’s R&D teams to both advance clinical science and improve product experience
• Consumer engagement: building a proactive and engaged community of consumers and influencers
• Dermatologist collaboration: exploring new ways to partner with the dermatologist community

“From inception to the moment consumers use the products for the first time, I am proud to help Neutrogena craft the future of beauty,” said Dr. Bhanusali. “This partnership represents a true shift in skincare, one where brands truly lean into science and partner with dermatologists to better care for their patients and consumers everywhere."

“Dermatologist-led innovation is central to Neutrogena’s identity, and I’m proud to support the brand in developing next-generation solutions for our patients,” shared Dr. Shah. “Through this partnership we hope to reinforce Neutrogena's unwavering commitment to both dermatologists and patients, shaping the future of science-backed beauty."

About Kenvue

Kenvue is the world's largest pure-play consumer health company by revenue. Built on more than a century of heritage, our iconic brands, including Aveeno^®, BAND-AID^® Brand, Johnson's^®, Listerine^®, Neutrogena^® and Tylenol^®, are science-backed and recommended by healthcare professionals around the world. At Kenvue, we believe in the extraordinary power of everyday care and our teams work every day to put that power in consumers' hands and earn a place in their hearts and homes. Learn more at www.kenvue.com.

About Neutrogena^®

For over 90 years, Neutrogena^® has made sophisticated science simple, developing solutions for everyday skincare that balance clinical efficacy with elegant aesthetics. From science-backed innovation to accessible education, we are driven by a mission to democratize skin health. Our products address skin needs across ages, skin types and tones. Neutrogena^® is a brand of Kenvue Brands LLC, a subsidiary of Kenvue Inc.

Cautions Concerning Forward-Looking Statements

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding a multi-year collaboration with Dr. Muneeb Shah and Dr. Dhaval Bhanusali to deliver advanced clinical efficacy and extraordinary product experiences for the Neutrogena^® brand. Forward-looking statements may be identified by the use of words such as “plans,” “expects,” “will,” “anticipates,” “estimates” and other words of similar meaning. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Kenvue and its affiliates. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the collaboration may not be realized or may take longer to realize than expected; challenges inherent in new product development, including the uncertainty of clinical success and obtaining regulatory approvals; competition, including technological advances, new products and intellectual property attained by competitors; uncertainty of commercial success for new products; the ability of Kenvue to successfully execute strategic plans; impact of business combinations and divestitures; challenges to intellectual property; and changes in behavior and spending patterns or financial distress of consumers. A further list and descriptions of these risks, uncertainties and other factors can be found in Kenvue’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent Quarterly Reports on Form 10-Q and other filings, available at www.kenvue.com or on request from Kenvue. Kenvue and its affiliates undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or developments or otherwise.

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