Exhibit 99.2

P&G Beauty Brands

(A Combination of Wholly-Owned Subsidiaries,

including Galleria Co. and Operations of the Fine

Fragrances, Salon Professional, Cosmetics and Retail

Hair Color & Styling Businesses of The Procter &

Gamble Company)

Unaudited Combined Financial Statements as of

September 30, 2016 and June 30, 2016, and for the

Three Months Ended September 30, 2016 and 2015

P&G BEAUTY BRANDS

TABLE OF CONTENTS

See accompanying Notes to unaudited Combined Financial Statements.

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See accompanying Notes to unaudited Combined Financial Statements.

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See accompanying Notes to unaudited Combined Financial Statements.

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P&G BEAUTY BRANDS

reasonable. All such costs and expenses have been deemed to have been paid by the Company to P&G in the period in which the costs were recorded. Allocations of current income taxes are deemed to have been remitted, in cash, to P&G in the period the related income taxes were recorded.

Amounts due to or from P&G, related to a variety of intercompany transactions, including but not limited to the collection of trade receivables, payments of accounts payable and accrued liabilities, charges for allocated corporate expenses and payments of taxes by P&G on behalf of the Company, have been classified within divisional equity. Intercompany transactions within the Company are eliminated.

These unaudited Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial reporting. Accordingly, they do not include all the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, these unaudited Combined Financial Statements contain all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial position, results of operations and cash flows for the interim periods reported. These financial statements may not be fully representative of annual results and should be read in conjunction with the Company’s audited Combined Financial Statements for the fiscal year ended June 30, 2016.

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)”. This guidance outlines a single, comprehensive model for accounting for revenue from contracts with customers. We will adopt the standard no later than July 1, 2018. We are currently assessing the impact of the new standard.

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”. The standard requires lessees to recognize lease assets and lease liabilities on the balance sheet and requires expanded disclosures about leasing arrangements. We will adopt the standard no later than July 1, 2019. We are currently assessing the impact of the new standard.

No other new accounting pronouncements issued or effective during the fiscal year have had, nor are expected to have, a material impact on the unaudited Combined Financial Statements.

Selling, general and administrative expenses (SG&A) include allocations of global business unit (GBU) direct spending for the Company’s businesses not classified as a separate GBU as well as corporate expenses associated with centralized P&G support functions.

GBU allocations represent the Company’s share of P&G’s total Beauty GBU direct spending. The Retail Hair Color & Styling business was not organized as a separate GBU within P&G until November 1, 2015. Prior to November 1, 2015, direct spending charges (such as selling expenses and research and development costs) were consolidated into the Beauty GBU and subsequently reallocated to all relevant businesses. Beginning on November 1, 2015, SG&A no longer includes GBU allocations as all of the Company’s businesses are now classified as separate GBUs.

Allocations of corporate expenses relate to local selling and market operations, global support services and corporate functions as illustrated in the table below. Local selling and market operations include the allocated portion of the Company’s shared costs associated with employees who sell various P&G products to customers. Global support services include shared costs associated with items such as general ledger accounting, accounts payable, administration of employee benefits (medical, retirement,

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stock compensation, etc.), records development and facilities management. Corporate functions relate to consumer and market research, finance, human resources, legal, information technology, government relations, public affairs and research and development. Allocations are based on a number of utilization measures including headcount, square footage and proportionate effort. Where determinations based on utilization are impracticable, P&G uses other methods and criteria that are believed to be reasonable estimates of costs attributable to the Company such as net sales.

Additionally, P&G has historically performed funding and central treasury activities for the Company including the investment of surplus cash, the issuance, repayment and repurchase of short-term and long-term debt and interest rate and foreign currency risk management. All P&G funding to the Company since inception (including any dividend payments) has been accounted for as capital contributions from P&G and all cash remittances from the Company to P&G have been accounted for as distributions to P&G.

In accordance with the applicable accounting standards, goodwill and indefinite lived intangibles are tested at least annually for impairment. The test to evaluate goodwill for impairment is a two-step process. In the first step, the fair value of the reporting unit is compared to its carrying value. If the fair value of the reporting unit is less than its carrying value, a second step is performed to determine the implied fair value of the reporting unit’s goodwill. The second step of the impairment analysis requires a valuation of a reporting unit’s tangible and intangible assets and liabilities in a manner similar to the allocation of purchase price in a business combination. If the resulting implied fair value of the reporting unit’s goodwill is less than its carrying value, that difference represents an impairment.

P&G’s valuations used to test goodwill and intangible assets for impairment are dependent on a number of significant estimates and assumptions including macroeconomic conditions, overall category growth rates, competitive activities, cost containment and margin expansion and business plans. We believe these estimates and assumptions are reasonable.

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Identifiable intangible assets as of September 30, 2016 and June 30, 2016:

The Company’s goodwill and intangible asset balances relate to the prior acquisitions of Clairol in 2001, Wella AG in 2003 and certain other brand acquisitions by P&G.

The amortization expense of intangible assets for the three months ended September 30, 2016 and 2015 was $6 and $10, respectively.

P&G has historically incurred an ongoing level of restructuring-type activities to maintain a competitive cost structure, including manufacturing and workforce optimization. In fiscal 2012, P&G initiated an incremental restructuring program as part of productivity and costs savings plan to reduce costs in the areas of supply chain, research and development, marketing and overheads. The program is expected to be completed by fiscal 2017. The productivity and cost savings plan was designed to accelerate cost reductions by streamlining management decision making, manufacturing and other work processes in order to help fund P&G’s growth strategy. The Company’s costs for such programs include employee related separation costs and other charges and accelerated depreciation.

Employee Related Separation Costs and Other Charges — Employee separation costs primarily relate to severance packages, outplacement training and health benefits granted to employees dedicated to the Company. The packages are predominantly involuntary and the amounts are calculated based on salary levels and past service periods. Separation charges are included in Cost of products sold for manufacturing employees and in SG&A for nonmanufacturing employees. Other charges include contract terminations and facility closure costs which are included within Cost of products sold for manufacturing related costs and in SG&A for nonmanufacturing related costs. The related liability (“restructuring reserves”) is recorded in Accrued expenses and other liabilities and were $13 and $17 as of September 30, 2016 and June 30, 2016, respectively.

The following table summarizes the changes in the total restructuring reserves for employee separation costs and other charges:

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Accelerated Depreciation — Accelerated depreciation charges relate to long-lived assets that will be taken out of service prior to the end of their originally established useful lives. The Company has shortened the estimated useful lives of such assets, resulting in incremental depreciation expense for the newly estimated service period. Accelerated depreciation related to restructuring activities was $5 and $1 for the three months ended September 30, 2016 and 2015, respectively. Accelerated depreciation for manufacturing assets is included in Cost of products sold.

Consistent with the Company’s historical policies for ongoing restructuring-type activities, the restructuring program charges are funded by and included within Corporate for both management and segment reporting. Corporate includes certain activities that are not reflected in the operating results used internally to measure and evaluate the businesses. Accordingly, all charges under the program are included within the Corporate reportable segment. However, for informative purposes, the following table summarizes the total restructuring costs related to our operating and reportable segments.

Total stock-based compensation expense for stock option grants and restricted stock unit grants was $1 and $2 for the three months ended September 30, 2016 and 2015.

Certain employees of the Company participate in P&G’s pension and other postretirement employee benefit plans. Defined benefit pension expense allocated to the Company was $11 for the three months ended September 30, 2016 and 2015, respectively. Other postretirement benefits expense allocated to the Company was $2 for the three months ended September 30, 2016 and 2015. Defined contribution benefit expense allocated to the Company was $5 and $6 for the three months ended September 30, 2016 and 2015.

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On July 8, 2015, the Company entered into financing commitments with a consortium of lenders comprising the following facilities:

On January 26, 2016, the Company drew on its Term B loan of $1.0 billion at a discount of $5.0 million, resulting in net proceeds of $995.0 million. On September 29, 2016, the Company drew on its Term A loan resulting in net proceeds of $944.3 million. Both the Term A and Term B loans are payable at maturity. The net debt proceeds of $1.9 billion were distributed to P&G on September 30, 2016 prior to the completion of the P&G Beauty Brands divestiture to Coty, Inc.

No amounts were outstanding under the five-year revolving credit facility at September 30, 2016 and there were neither borrowings nor repayments on this facility for the three months ended September 30, 2016.

The Company incurred $53 of underwriting, market and administrative fees for the three months ended September 30, 2016 which were capitalized and recorded as a reduction to debt at September 30, 2016. The Company also incurred debt commitment fees (interest expense) of $14 for the three months ended September 30, 2016 to maintain the availability of these funds. The interest expense is funded by and included within Corporate for both management and segment reporting.

Litigation — The Company is subject to various legal proceedings and claims arising out of our business which cover a wide range of matters such as antitrust, trade, labor and employment matters, other governmental regulations and other actions arising out of the normal course of business. While considerable uncertainty exists, in the opinion of management and its counsel, the ultimate resolution of the various lawsuits and claims will not materially affect the Company’s financial position, results of operations and cash flows.

Income tax uncertainties — The Company is present in over 110 taxable jurisdictions. As part of P&G operations in these jurisdictions, the Company is subject to examination by tax authorities. At any point in time, P&G has several audits underway at various stages of completion. Although none of the audits are specific to the Company, the scope of the P&G audits would include activities of the Company. P&G evaluates its tax positions and establishes liabilities for uncertain tax positions that may be challenged by local authorities and may not be fully sustained, despite its belief that the underlying tax positions are fully supportable. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law and closing of statute of limitations. Such adjustments are reflected in the tax provision as appropriate. P&G has tax years open ranging from 2008 and forward. The Company is generally not able to reliably estimate the ultimate settlement amounts until the close of the audit. Based on information currently available, we anticipate that over the next 12 month period, audit activity could be completed related to uncertain tax positions in multiple jurisdictions for which we have accrued existing liabilities of approximately $56, including interest and penalties. The uncertain tax positions in multiple jurisdictions is driven largely by the P&G Beauty Brands’ share from the resolution of a multi-year audit in Germany spanning the entire P&G business.

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The P&G Beauty Brands businesses were historically included within the P&G Global Beauty reportable segment. The Company has four operating segments comprised of 1) Fine Fragrances, 2) Salon Professional, 3) Retail Hair Color & Styling and 4) Cosmetics. Under U.S. GAAP, the four operating segments are aggregated into three reportable segments as described below:

Corporate includes certain activities that are not reflected in the operating results used internally to measure and evaluate the businesses. These items include financing and investing activities, gains of certain divested brands, intangible asset impairment charges, restructuring activities to maintain a competitive cost structure including manufacturing and workforce optimization and certain one-time transition costs incurred to support the signed divestiture agreement with Coty Inc. Corporate also includes reconciling items to adjust the accounting policies used in the segments for U.S. GAAP. The most significant reconciling item includes income taxes to adjust from blended statutory tax rates that are reflected in the segments to the overall tax rate. Following is a summary of segment results:

For the three months ended September 30, 2016, the Company has evaluated subsequent events for potential recognition and disclosure through May 8, 2019.

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