Sally Beauty Holdings, Inc. announced an upcoming change in its Board of Directors as part of a planned leadership transition. Robert (Bob) McMaster, in connection with his plans to retire as a Director, is not standing for re-election and will step down as Chair of the Board at the conclusion of the Company's Annual Meeting of Shareholders on January 26, 2023. Diana Ferguson, current Independent Director, has been tapped by the Board as its Chair-Elect.

Ms. Ferguson has been a Director at the Company since 2019 and currently serves as Chair of the Compensation and Talent Committee. She brings an extensive track record of success in corporate financial management, strategic planning and transaction execution. Ed Rabin, Marshall Eisenberg and John Miller have also announced their upcoming retirements from the Board and will not be standing for re-election.

These retirements follow the appointment of Rachel Bishop, Jeffrey Boyer and Chip Molloy to the Board in July 2022, which enhanced the Board's expertise in retail operations, strategy and finance. About Diana Ferguson: Ms. Ferguson was elected to Sally Beauty Holdings' Board of Directors in January 2019. Ms. Ferguson has served as a principal of Scarlett Investments, LLC, a private investment firm, since 2013.

She formerly served as Chief Financial Officer to Cleveland Avenue, LLC, a venture capital investment firm, from September 2015 to December 2020. She also served as Chief Financial Officer of the Chicago Board of Education from February 2010 to May 2011 and as Senior Vice President and Chief Financial Officer of The Folgers Coffee Company from April 2008 to November 2008 when Folgers was sold. Prior to joining Folgers, she was Executive Vice President and Chief Financial Officer of Merisant Worldwide, Inc.Ms. Ferguson also served as the Chief Financial Officer of Sara Lee Foodservice, a division of Sara Lee Corporation, and in a number of leadership positions at Sara Lee Corporation, including Senior Vice President of Strategy and Corporate Development, as well as Treasurer.

She currently is a Director of Mattel, Inc., where she serves on the Audit Committee and is also a Director of Gartner, Inc., where she serves on the Audit Committee.