Fitlife Brands, Inc. · NASDAQ:FTLF
Fitlife Brands — Investor Presentation (September 2026)
21 slides from Fitlife Brands's investor presentation, September 2026
Slide 1: Investor Presentation
Investor Presentation September 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimat
Slide 3: Brands & Sales Channels
Brands & FitLife Brands, Inc. (Nasdaq: FTLF) sells ~500 SKUs across 16 Sales Channels brands in both wholesale and online channels Legacy FitLife* Recently Acquired Brands Other Other Description GNC Wholesale Online Description GNC Wholesale Online Premium general health & Mimi’s Rock Corp (MRC) –
Slide 4: Investment Thesis
Investment Thesis 1. Proven management team that is aligned with shareholders 2. Compelling financial performance 3. Growth potential 4
Slide 5: Management Team Overview
Management Management team is comprised of capable industry Team Overview veterans and accomplished executives from other industries Dayton Judd Ryan Hansen Jakob York Jenna Sinnett Chief Executive Officer President Chief Financial Officer Chief Operating Officer • CEO since Feb ’18, current Chairma
Slide 6: Historical Revenue & Adjusted EBITDA
Historical Revenue FitLife’s transformation began with our current CEO in & Adjusted EBITDA early 2018 Total Company TTM Revenue and Adjusted EBITDA Revenue Adj. EBITDA $, millions • Significant sales decline and • Significant cost reduction • Increased focus on new product development • Irwin acqui
Slide 7: Historical Stock Prices
Historical Stock FitLife’s transformation has delivered significant value, but Prices recent topline challenges have negatively impacted the stock Split Adjusted Price Per Share $24 Annualized Returns Shares Outstanding: (as of Sep. 3, 2026): • As of 12/31/2018: 8,895,554 $20 • 1-year: -43% • As of
Slide 8: Insider Ownership
CEO and entities he controls own a majority of outstanding Insider Ownership shares, creating strong alignment of incentives % of Total Common Shares Outstanding Public Float (41.5%) CEO (56.4%) Other Insiders (2.1%) Total shares outstanding as of September 3, 2025: 9,391,072 8
Slide 9: Investment Thesis
Investment Thesis 1. Proven management team that is aligned with shareholders 2. Compelling financial performance 3. Growth potential 9
Slide 10: Margin Profile
Average margins are lower post-Irwin acquisition, but we are Margin Profile making progress on improving them TTM Q2 2026 Margins Priority Margin Improvement Initiatives % of Net Revenue • Gross Margin: 50% o Reduce excess inventory loss at Irwin by extending shelf-life of product formulations 40% ✓
Slide 11: Free Cash Flow
Capital light business with conservative leverage results in Free Cash Flow strong cash flow Capital Expenditures Net Debt Adjusted Free Cash Flow* % of Net Revenue $, millions $, millions 50 1.0% 43.1 12 0.9% 40 37.0 9.9 10 9.5 0.8% 8.8 30 0.7% 8 0.6% 20 18.2 0.5% 5.7 8.6 6 10 0.4% 4.7 4.4 0.3% 0 4
Slide 12: Contribution
Contribution of the legacy business slipped in the second half Contribution of 2025 while Irwin has begun to contribute Contribution (Gross profit less advertising and marketing expense) $, millions Irwin YoY Growth Legacy FitLife Q2 2026 vs. Q2 2025 9 8.4 +46% 8.3 Includes partial 8 quarter of Irwi
Slide 13: Online Revenue
Significant online business with strong subscriber and repeat Online Revenue customer base is key component of financial performance Online Net Revenue % of Total Net Revenue Acquisition of MRC in Feb 80% 2023 Acquisition of 70% 67% Irwin Naturals 63% in Aug 2025 60% 51% 50% 43% 40% 30% 28% 24% 20%
Slide 14: Investment Thesis
Investment Thesis 1. Proven management team that is aligned with shareholders 2. Compelling financial performance 3. Growth potential 14
Slide 15: Organic Growth
Large and growing industry, in the US and globally, supports Organic Growth organic growth potential of existing brands Estimated Dietary Supplement Market Size Organic Growth Headwinds and Current Revenue Initiatives $, billions Rest of World Est. CAGR US 2025 - 2033 Challenges What we’re doing to
Slide 16: Inorganic Growth
Industry fragmentation coupled with FitLife’s access to deal Inorganic Growth flow and strong balance sheet create opportunity for M&A Consolidation opportunity Deal flow Ability to finance M&A Opportunity for “multiple arbitrage” via Our team and infrastructure make us a qualified Strong balance sh
Slide 17: Recent M&A Examples
Recent M&A In August 2025, FitLife acquired Irwin Naturals, doubling the Examples size of the business with no dilution to shareholders Irwin Naturals Deal Overview • Closing date: August 8, 2025 • Total consideration: $42.5 million cash, funded with $6.75 million cash from balance sheet and $35.75
Slide 18: Recent M&A Examples Continued
Recent M&A FitLife made two acquisitions in 2023, both of which were Examples Continued rapidly accretive to shareholders MRC MusclePharm Deal Overview Deal Overview • Closing date: February 28, 2023 • Closing date: October 10, 2023 • Total consideration: $17.1 million cash (funded with $4.6 million
Slide 19: Summary
Summary 1. Proven management team that is aligned with shareholders 2. Compelling financial performance 3. Growth potential Please contact us at investor@fitlifebrands.com if you have any questions. 19
Slide 20: Appendix
Appendix 20
Slide 21: Non-GAAP Reconciliations
Non-GAAP Reconciliations $, thousands 2026 Q2 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM CONSOLIDATED STATEMENTS OF INCOME Revenue 25,314 17,799 17,077 19,136 22,111 27,913 28,803 52,700 64,469 81,458 101,269 Cost of goods sold 15,243 12,708 10,332 11,155 12,574 15,409 16,769 31,268 36,38
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