Execution Version FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT THIS FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment") is entered into as of August 5, 2025 (the "Amendment Effective Date"), by and among e.l.f. Cosmetics, Inc., a Delaware corporation ("e.l.f. Cosmetics"), J.A. RF, LLC, a Delaware limited liability company ("J.A. RF"), W3LL People, Inc., a Delaware corporation ("W3LL"; collectively with e.l.f. Cosmetics and J.A. RF, the "Borrowers"), e.l.f. Beauty, Inc., a ...