Our Roadmap for Sustainable Organic Growth Prestige Brands Holdings Inc.

Welcome Statements in this presentation which are not historical facts, including, without limitation, reporting financial guidance for Fiscal 2009 -looking 2009 and and beyond, beyond, are are forward forward-looking statements statements within within the the meaning meaning of of the the Securities Securities Litigation Litigation Reform Reform Act Act of of 1995. 1995. These -looking statements These forward forward-looking statements involve involve risks, risks, uncertainties uncertainties and assumptions that could cause actual outcomes and results to differ materially from those stated or projected.

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PBH At A Glance •• Competes Competes in in OTC, OTC, household household and and personal personal care care segments segments Business Business Overview Overview

Operating Operating Model Model

Financial Financial Performance Performance

•• Over ¾ of of revenue revenue generated generated by by #1 #1 or or #2 #2 share share brands brands Over ¾ •• Focus niche” categories Focus on on smaller, smaller, less less competitive competitive ““niche” categories and and segments segments

•• •• ••

Focus ment Focus on on core core competencies; competencies; sales, sales, marketing marketing and and product product develop development Outsourced Outsourced manufacturing, manufacturing, distribution distribution and and R&D R&D Proven Proven ability ability to to make make and and integrate integrate strategic strategic acquisitions acquisitions

•• Among ns with Among industry industry leaders leaders in in cash cash flow flow metrics metrics driven driven by by high high margi margins with virtually virtually no no CapEx CapEx •• •• ••

Average Average organic organic sales sales growth growth of of 2.9% 2.9% annually annually since since Fiscal Fiscal 2002 2002 Strong Strong net net income income and and free free cash cash flow flow (FCF) (FCF) Approximately es cash Approximately 99 year year amortization amortization tax tax shield shield significantly significantly reduc reduces cash taxes taxes

•• Free Free cash cash per per share share higher higher than than EPS EPS

Growth Growth Opportunities Opportunities

•• Portfolio Portfolio management, management, breakthrough breakthrough product product innovation, innovation, increased increased distribution, distribution, marketing marketing and and organizational organizational optimization optimization •• Extensions tion Extensions of of brands brands internationally internationally via via new new and and deeper deeper distribu distribution and and licensing licensing •• Strategic Strategic acquisitions acquisitions

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Diversified Sales TTM December 31, 2008 Sales: $322.3 MM ($ in millions)

Personal Care $19.9 6.2%

Household $119.0 36.9%

56.9%

OTC $183.4

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

78% of Revenues from Brands #1 or #2 in their Categories Market Position (1) #1 #2

OTC OTC

US Category Size $MM (2) EAR DROPS/TREATMENT $90 Category

WART REMOVERS

$108

# 1 SORE THROAT SPRAY/LOZENGES/LIQUIDS $114 #1

LIQUID BANDAGES

$27

# 1, # 2 DENTAL MOUTH GUARDS/DENTAL PICKS $62 #2

ALLERGY/REDNESS EYE DROPS

$217

#1

METAL SOAPLESS SCRUBBERS

$20

#2

ABRASIVE CLEANSERS

$202

#1

NAIL POLISH REMOVERS

$58

Household Household

Personal Personal Care Care

(1) Rankings based on brand’s primary category (2) Based on IRI Dollar sales, adjusted for Wal-Mart and Dollar/Club Store sales

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Impressive US Customer/Channel Base Other Other 4.5% 4.5%

Club Club 2.2% 2.2% Dollar Dollar 8.8% 8.8%

Mass Mass 36.1% 36.1%

Drug Drug 26.3% 26.3%

Food Food 22.1% 22.1%

*DATA AS OF 12/31/2008

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Advantages of Prestige Model CPG CPGIndustry Industry High High Fixed Fixed Asset Asset base: base: §§ High High Fixed Fixed Labor/Pensions Labor/Pensions §§ Capex Capex §§ Depreciation Depreciation High High Fixed Fixed R R& &D D High High infrastructure, infrastructure, high high integration integration complexity complexity

§§ Outsourcing Outsourcing §§ Flexible, Flexible, pay pay only only with with success success §§ Can Can capitalize capitalize on on almost almost any any innovation innovation

High High hurdles hurdles (size) (size) for for accretive accretive acquisitions acquisitions

§§ Broad Broad acquisition acquisition opportunities opportunities

High High hurdles hurdles (size) (size) for for new new products products

§§ Simple Simple integration integration 7

Business Overview

Operating Model

Financial Performance

Growth Opportunities

Recent Brand Extension Activities Core CoreBrand Brand

Extension Extension Allergen Allergen Block Block Max Max Spray Spray & & Lozenges Lozenges Itchy Itchy Eye Eye Little Little Allergies Allergies Allergen Allergen Block Block Saline Saline Mist Mist

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Sales Performance Pro Proforma formaResults ResultsThrough ThroughDecember December31, 31,2008 2008 ($ in millions)

R: 2008 CAG – 2 0 0 2 FY $269

$289

$297

FY 2005

FY 2006

14.9% $319

$327

$322

FY 2007

FY 2008

TTM 12/31/08

$201 $122

FY 2002

FY 2003

FY 2004

Net Sales (1) (1) Assumes acquisitions of Medtech and Denorex (predecessor companies), companies), Bonita Bay and Spic and Span occurred as of 4/1/2001. Bonita Bay and Spic and Span net sales represent previous calendar year results for FY02 through FY03.

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Underlying Organic Growth Pro Proforma formaResults ResultsDecember December31, 31,2008 2008 ($ in millions)

% ic Rate: 2.9 Avg. Organ $269 $201

4%

$289

-4%

$297

1%

$319 1%

$327

$322

11% $281

$278

$299

$321

FY 2005

FY 2006

FY 2007

FY 2008

$223

8% $102

$110

FY 2002

FY 2003

FY 2004

TTM 12/31/08

Net Sales(1) (1)

Assumes acquisitions of Medtech and Denorex (predecessor companies), companies), Bonita Bay and Spic and Span occurred as of 4/1/2001. Bonita Bay and Spic and Span net sales represent previous calendar year results for FY02 through FY03. Full year FY02 sales were $122 $122 million as a result of acquisitions.

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

Attractive Margins and Capital Efficiency EBITDA EBITDAMargin Margin

CapEx CapEx(% (%of ofSales) Sales)

40% 35%

5%

33.9%

4%

30.3%

4.2% 3.6%

4%

30%

24.2% 25%

3.2%

3%

21.7%

20.2%

20%

2.2%

3%

16.3%

14.7%

15 %

14.2%

1.8%

2% 2%

1.0%

10 %

1%

5%

0.6%

1%

0.2%

0%

0% C ha t t e m

P re s t ige

P ro c t e r & C o lga t e G a m ble P a lm o liv e

C lo ro x

C hurc h & D wight

WD - 4 0

Int e r P a rf um s

C o lga t e - P ro c t e r & P a lm o liv e G a m ble

C lo ro x

C hurc h & D wight

WD - 4 0

C ha t t e m

Int e r P a rf um s

P re s t ige

Free FreeCash CashFlow Flow(% (%of ofSales) Sales) 25%

20%

19.4%

19.2% 15.3%

15 %

11.8% 10.6% 9.3%

10 %

9.0% 7.4%

5%

Free Free cash cash flow flow == operating operating cash cash flow flow less less capital capital expenditures. expenditures.

0%

Note: Note: Prestige Prestige TTM TTM as as of of 12/31/2008. 12/31/2008. All All other companies companies are are as as per per last last annual annual report report filing. filing.

P re s t ige

C ha t t e m

P ro c t e r & C o lga t e G a m ble P a lm o liv e

C lo ro x

Int e r P a rf um s

C hurc h & D wight

WD - 4 0

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

4 Key Thrusts To Near and Long -Term Growth Long-Term 1.

Brand-Specific Approach to Portfolio Management and Resource Allocation –– A “feed the winners” approach to brand-level spending by committing resources to Focus Brands with validated ideas –– Remainder of portfolio will be run to support Focus Brands –– Continue to explore strategic options for Personal Care and add several small OTC brands to possible divestiture group 12

Business Overview

Operating Model

Financial Performance

Growth Opportunities

4 Key Thrusts To Near and Long -Term Growth Long-Term 2.

Intensified Emphasis on Breakthrough Innovation (BI) – BI means clearly differentiated new products or improvements to existing brands that add scale – BI for Focus Brands only – Expand innovation idea sources – Goal: 1-2 BIs per year w/ at least $5 million revenue potential, expandable internationally

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

FY09 Breakthrough Innovations Chloraseptic® Allergen Block

Little Allergies™ Allergen Block

• Aligns two PBH brands in a $700 million OTC category • Patented technology • Non-drug preventive relief • For external use - greaseless, colorless, odorless • Little Remedies for children and Chloraseptic for adults • Can be used along with other allergy relief products • Creative advertising and PR slated for both brands

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Business Overview

Operating Model

Financial Performance

Growth Opportunities

4 Key Thrusts To Near and Long -Term Growth Long-Term 3.

Broaden International to Emphasize Canada – Canada currently is 6% of total revenues • Underdeveloped by 50% – Historically managed as domestic afterthought – FY08: Consolidated broker network-business +12% – Next steps: (1) Identify dedicated marketing resources, and (2) Ramp up focused consumer spending 15

Business Overview

Operating Model

Financial Performance

Growth Opportunities

4 Key Thrusts To Near and Long -Term Growth Long-Term 4.

Improve External and Internal Organization Effectiveness – Move to a direct selling model with majority of top customers • Goal: Bulk of US revenues via direct sale, up from