Fitlife Brands, Inc. · NASDAQ:FTLF
Fitlife Brands — Investor Presentation (December 2025)
21 slides from Fitlife Brands's investor presentation, Dec 10, 2025
Slide 1: Investor Presentation December 2025
Investor Presentation December 2025 FITLIFE@ cpg @0RE @ Acre
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 "estimate," “expect “strategy,” Tuture," "likely," “may should," can be identified by words such as: "anticipate,
Slide 3: Brands & Sales Channels
Brands & FitLife Brands, Inc. (Nasdaq; FTLF) sells ~S00 SKUs across 16 Sales Channels brands in both wholesale and online channels otter exter cession ene _witline _ontns oxssiption ene wile _onine Premium generatheatth@ v Min eck cove (anc) Acquired February 28 2025 vows ‘a Premium general health :
Slide 4: Investment Thesis
Investment Thesis 1. Pre is n management team that ined with shareholders 2. Compelling financial performance 3. Growth potential
Slide 5: Management
Management Team Overview Dayton Judd Chief Executive Officer + C0 since Feb 18, current Chairman + Founder & Managing Partner of sudbury Capital Management + rior experience includes: Portfolio Manager at Q Investments Associate Principal at McKinsey & Co. + MBA ftom Harvard Business Schoo! BS/Mac i
Slide 6: Historical Revenue & Adjusted EBITDA
Historical Revenue FitLife's transformation began with our current CEO in early & Adjusted EBITDA 2018 ‘Total Company THM Revenue and Adjusted EBITDA Revenue Ad) EBITDA Simitons Hictorcal ‘Bpoded! zo [+ Significantsalesdecline | [+ Significant cost reduction ~ Increased focus on new product developm
Slide 7: Historical Stock Prices
Historical Stock FitLife's transformation has delivered significant equity value Prices with minimal dilution to shareholders Split Adjusted Price Per Share $m “Annualized Returns “Shares Outstanding: 20 _| (880 Dee. 5, 2028): + As of 12/2018 8895 554 + Tyean 7% + As of 12/5/2025: 9,391,072 year 34%
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 proreisoulicke Public Flost (15%) rl 4 C8 jCREATIN sre “Total shares outstanding as of December §, 2025: 9351072
Slide 9: Investment Thesis
Investment Thesis 1. Proven management team that is aligned with shareholders 2. Compelling financial rmance 3. Growth potential
Slide 10: Margin Profile
Margin Profile 77M 932025 Margins seof Net Revenue 50% 407% 40% Ey 30% wee 20% 10% 0% Gross Margin Contribution Agjusted SsofNet EBITDA Revenue™ Margin Compelling margins are driven by differentiated brands and products Examples of products with strong advacacy from GNC franchisees GNC franchisees p
Slide 11: Free Cash Flow
Free Cash Flow Capital light business with low leverage results in strong cash flow copia txprors sett itd reece 03% SO 2 » om H ‘ 3 10s i 0.0% = -20 ° aon 2002 2008 nome TG! sen aoa tom A TGS a 202.2052 TCS mg me ms Net Deby sTransaction Expenses Boe 1m ae | pinmeinert | <225x pro forma for lrwin a
Slide 12: Strong financial performance evidenced by contribution
a Strong financial performance evidenced by contribution as a Contribution percent of net revenue Contribution (Gross profit less advertising and marketing expense) S,millions salnwin Naturals mMusclePharm yey Growth Legacy FitLife —_Q§ 2025 vs. Q52024 9 Includes parial 8 quarter of iin 16 s29% 7 ‘N
Slide 13: Online Revenue
| Online Revenue Online Net Revenue seoF Toral Net Revenue 80% TevatNerRevenue 7g m 3% 59% 288% 268% 20% 1B 2022 2023 Significant online business with strong subscriber and repeat customer base underpins current financial performance [acgustoneF : aapastion mecae \ 61% 2019 2020 2021 2024 © TIMQ5202
Slide 14: Investment Thesis
Investment Thesis 1. Proven management team that is aligned with shareholders 2. Compelling financial performance %
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 s mRestof World US 480 F452 300 250 792.65 150 2) 124 ° 2024 2033 Est, CAGR 195% 177% Key Growth Opportunities for Select Brands: Legac
Slide 16: Inorganic Growth
Inorganic Growth Consolidation opportunity Opportunity for ‘multiple arbitrage" via consolidation of smaller brands in industry ‘Typical Enterprise Value /EBITOA Multiples 16x. Tex B45K . : . Industry fragmentation coupled with FitLife’s access to deal flow and strong balance sheet create opportunit
Slide 17: Recent M&A: Irwin Naturals
Recent M&A In August 2025, FitLife acquired Irwin Naturals, doubling the Examples size of the business with no dilution to shareholders Irwin Naturals Cea Gepiecnutition E> naturals: Deal overview + Closing date: August 8, 2025 + Total consideration: $425 million cash, funded with $6.75 million cash
Slide 18: Recent M&A: MRC / Dr. Tobias
Recent M&A Examples Continued MRC DR TOBIAS Deal overview + Closing date: February 28, 2025 + Total consideration: $17.1 milion cash (funded with $4.6 million cash from balance sheet and $125 million term loan} + Investment rationale: © Increase exposure to general health & wellness supplements and
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. 9
Slide 20: Appendix
_Appendix_
Slide 21: Non-GAAP Reconciliations
Non-GAAP Reconciliations Sth ‘CONSOLIDATED STATEMENTS OF INCOME Reva sa 1199 ess Costa good ld isa 208 pe Woon 581 35080 ‘Selling, eer and aainsee oak 70s an Has opnraestofiznpile ses agoodsl 59 : ° Depecaonand mertaton ins 08 e ios “rlopeaigepeses 99 Thos ae 7361 Operate acon m2 Gs 3 Bip Ober exgra
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