Planet Fitness, Inc. · NYSE:PLNT
Planet Fitness — Investor Day (November 2025)
154 slides from Planet Fitness's investor day presentation, Nov 13, 2025
Slide 1: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 2: Stacey Caravella, VP Investor Relations
STACEY CARAVELLA VP, INVESTOR RELATIONS
Slide 3: Presentation of Forward-Looking Statements & Financial Measures
planet fitness: PRESENTATION OF FORWARD-LOOKING = 'NVESTORDAY STATEMENTS & FINANCIAL MEASURES ‘This presentation contains “forward-looking statements” within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include the Company's statements
Slide 4: Agenda
Colleen Keating, CEO o Capitalizing on unique moment Brian Povinelli, CMO o Evolving our brand to drive growth Bill Bode, COO o Executing a high value member experience Chip Ohlsson, CDO o Accelerating new club growth Jay Stasz, CFO o Bringing it all together with long-term growth outlook Q&A AGENDA
Slide 5: Colleen Keating, Chief Executive Officer
COLLEEN KEATING CHIEF EXECUTIVE OFFICER
Slide 6: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 7: Years of Tremendous Growth: 2,800 Clubs
10 YEARS OF TREMENDOUS GROWTH 2,800 CLUBS from 1,000
Slide 8: Years of Tremendous Growth: 21M Members
10 YEARS OF TREMENDOUS GROWTH 21M MEMBERS from 7M+ Nearly
Slide 9: Social prescribing and movement
With social prescribing, hanging out, movement arts are doctor's order. t worked as a i years, Frank Fros : istrial chemicals For more than 30 long-distance truck across the United Kingdom."! wo 4 p tol ise was looking, for a fast 'd parked up.” He driver, ferrying indu srked away from home 2-15 hou
Slide 10: Gen Z Is Our Fastest Growing Demographic
GEN Z IS OUR FASTEST GROWING DEMOGRAPHIC - 2,000,000 4,000,000 6,000,000 8,000,000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022 2023 2024 2025 Total Membership by Age Generation 2020-2025 Gen Z Millennials Gen X Baby Boomers
Slide 11: We Are Growing Across All Generations
WE ARE GROWING ACROSS ALL GENERATIONS 2025 2024 Baby Boomer Gen X Millennial Gen Z 1M 2M 3M 4M 5M 6M 7M 8M
Slide 12: Rise in Retail Bankruptcies
RISE IN RETAIL BANKRUPTCIES 5,6001 6,2001 9,9002 2023 2024 2025 1. Sources: 2023 and 2024: CNN: cnn.com https://www.cnn.com/2024/10/25/business/the-retail-apocalypse-is-back 2. Jones Lang LaSalle: https://www.jll.com/en-us/guides/retail-closures-should-free-up-140-million-square-feet-of-much-needed-
Slide 13: Strategic Imperatives
ENHANCING OUR MEMBER EXPERIENCE ACCELERATING NEW CLUB GROWTH REFINING OUR PRODUCT & OPTIMIZING OUR LAYOUT REDEFINING OUR BRAND PROMISE
Slide 14: Strategic Imperative #1: Redefining Our Brand Promise
STRATEGIC IMPERATIVE #1: REDEFINING OUR BRAND PROMISE
Slide 15: +1 Million Net New Members Through Q3 2025
+1 MILLION NET NEW MEMBERS THROUGH Q3 2025
Slide 16: 5% Increase in Active Member Visits
5% INCREASE* ACTIVE MEMBER VISITS *Through Q3 2025
Slide 17: Strategic Imperative #2: Enhancing Our Member Experience
STRATEGIC IMPERATIVE #2: ENHANCING OUR MEMBER EXPERIENCE
Slide 18: Slide 18
Slide 19: Slide 19
Slide 20: Strategic Imperative #3: Refining Our Product & Optimizing Our Format
STRATEGIC IMPERATIVE #3: REFINING OUR PRODUCT & OPTIMIZING OUR FORMAT
Slide 21: Slide 21
Slide 22: Strategic Imperative #4: Accelerating New Club Growth
STRATEGIC IMPERATIVE #4: ACCELERATING NEW CLUB GROWTH
Slide 23: Slide 23
Slide 24: Slide 24
Slide 25: Strategic Imperatives
ENHANCING OUR MEMBER EXPERIENCE ACCELERATING NEW CLUB GROWTH REFINING OUR PRODUCT & OPTIMIZING OUR LAYOUT REDEFINING OUR BRAND PROMISE
Slide 26: Executive Leadership Team
EXECUTIVE LEADERSHIP TEAM Sarah Powell GENERAL COUNSEL* Paul Barber CHIEF INFORMATION OFFICER Bill Bode CHIEF OPERATING OFFICER McCall Gosselin CHIEF CORPORATE AFFAIRS OFFICER Chip Ohlsson CHIEF DEVELOPMENT OFFICER Brian Povinelli CHIEF MARKETING OFFICER Jennifer Simmons CHIEF STRATEGY OFFICER Jay S
Slide 27: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 28: Brian Povinelli, Chief Marketing Officer
BRIAN POVINELLI CHIEF MARKETING OFFICER
Slide 29: Evolving the Brand to Drive Growth
33 EVOLVING THE BRAND TO DRIVE GROWTH
Slide 30: Why Evolve Now?
WHY EVOLVE NOW?
Slide 31: Changing Consumer
CHANGING CONSUMER Open to better image CHANGING CONSUMER
Slide 32: Increasingly Crowded Marketplace
INCREASINGLY CROWDED MARKETPLACE Boutiques Digital offerings HVlp 2.0/3.0 Social content
Slide 33: HVLP Growth Outpacing Total U.S. Gym Member Growth
Co py ri gh t © 2 02 5 by B os to n C on su lt in g G ro up . A ll ri gh ts r es er ve d. 9% HVlp GROWTH OUTPACING TOTAL U.S. GYM MEMBER GROWTH OF 1% SINCE 20192 TREMENDOUS OPPORTUNITY AHEAD -5% -1% -1% 9% -1% 1% Other Premium Gym Studio HVLP Mid-Tier Gym Total Market Market CAGR (%) 2019-20241
Slide 34: Our Approach to Evolution
38 OUR APPROACH TO EVOLUTION…
Slide 35: Key Principles
KEY PRINCIPLES ENHANCE CUSTOMER-FIRST MENTALITY WITH DATA & INSIGHTS1 1 BUILD MORE EMOTIONAL CONNECTION WITH CONSUMERS2 LEVERAGE OUR SCALE TO DRIVE EFFICIENCIES & EFFECTIVENESS3 CREATE MORE SYNERGY WITH LOCAL & NATIONAL AD FUNDS4 IMPROVING MEMBER EXPERIENCE AND LOYALTY5
Slide 36: Invest in Data/Insights to Drive a Customer-First Mindset
40 INVEST IN DATA/INSIGHTS TO DRIVE A CUSTOMER- FIRST MINDSET
Slide 37: Consumer Insights Research Study
Understanding today’s market landscape Where to play How to win DEMAND CENTERED GROWTH CONSUMER INSIGHTS RESEARCH STUDY
Slide 38: Consumer insights will support growth strategy
Drive action Build integrated plans Set our growth strategy Map our demand & position IT WILL SUPPORT...
Slide 39: Two Key Groups Stand Out
Co py ri gh t © 2 02 5 by B os to n C on su lt in g G ro up . A ll ri gh ts r es er ve d. TWO KEY GROUPS STAND OUT Fitness Non-Members (70%)A Fitness Members (30%)B 265 M # of people (U.S. adult population) 1. Source: BCG
Slide 40: Lapsed Members Are a Key Opportunity
LAPSED MEMBERS ARE A KEY OPPORTUNITY MORE LIKELY THAN NON-MEMBERS TO ENGAGE IN PAYING FITNESS MARKET* 2X 1. *PF data
Slide 41: Customer Segmentation
Co py ri gh t © 2 02 5 by B os to n C on su lt in g G ro up . A ll ri gh ts r es er ve d. NEED SOME GRAPHIC THAT CONCEPTUALLY SPEAKS TO A CUSTOMER SEGMENTATION MAP DEFEND ENHANCE DE-PRIORITIZE CUSTOMER SEGMENTATION
Slide 42: Build More Emotional Equities
48 BUILD MORE EMOTIONAL EQUITIES
Slide 43: Emotional + Functional
49 EMOTIONAL + FUNCTIONAL
Slide 44: Functional Needs
FUNCTIONAL NEEDS Machine Variety & Availability Easy to get in-&-out Convenient Location Value for Money pf Low Price HVlp
Slide 45: Emotional Needs
planet fitness: EMOTIONAL NEEDS INVEST OR DAY
Slide 46: You Belong
you belong R.. \V4 . »\, i A. ey 7 = es eas \ sy BEST-IN-CLASS dL? he =)
Slide 47: Evolved Brand ID Coming in 2H 2026
EVOLVED BRAND ID COMING IN 2H 2026
Slide 48: Leverage Our Scale
56 LEVERAGE OUR SCALE
Slide 49: ~$400M US Ad Fund, ~2,800 Clubs
~$400M US AD FUND ~2,800 CLUBS As of September 30, 2025
Slide 50: Shift from Local Ad Fund to National Ad Fund
1% SHIFT FROM LOCAL AD FUND TO NATIONAL AD FUND 3% 6% Beginning in 2026
Slide 51: Working Media Savings
WORKING MEDIA ~10% savings in local agency fees As of October 2025
Slide 52: Investing in Dynamic Creative Optimization
60 MODERNIZE OUR MARKETING TECHNOLOGY INVESTING IN DCO DYNAMIC CREATIVE OPTIMIZATION
Slide 53: Investing in CRM
62 MODERNIZE OUR MARKETING TECHNOLOGY INVESTING IN CRM CUSTOMER RELATIONSHIP MANAGEMENT
Slide 54: Unlocking New Media Opportunities
63 UNLOCKING NEW MEDIA OPPORTUNITIES Logos are registered trademarks of those brands.
Slide 55: Unlocking New Media Opportunities
64 UNLOCKING NEW MEDIA OPPORTUNITIES Logos are registered trademarks of those brands.
Slide 56: All National Promos Now Supported by NAF Media Dollars
65 ALL NATIONAL PROMOS NOW SUPPORTED BY NAF MEDIA DOLLARS
Slide 57: Member Experience
> _; MEMBER DS” EXPERIENCE | “i ' . = a \ : a 4 Ne
Slide 58: Member-Centered Journey Mapping
67 MEMBER-CENTERED JOURNEY MAPPING DAY 100 DAY 1
Slide 59: Leveraging AI
LEVERAGING AI 68
Slide 60: AI Pilot
On-demand Research Customized AI Agents Innovation Workflows AI PILOT
Slide 61: Uplifter Customer Panel
UPLIFTER CUSTOMER PANEL
Slide 62: New Channels
71 NEW CHANNELS
Slide 63: New Opportunities
72 NEW OPPORTUNITIES
Slide 64: Key Principles
KEY PRINCIPLES ENHANCE CUSTOMER-FIRST MENTALITY WITH DATA & INSIGHTS1 1 BUILD MORE EMOTIONAL CONNECTION WITH CONSUMERS2 LEVERAGE OUR SCALE TO DRIVE EFFICIENCIES & EFFECTIVENESS3 CREATE MORE SYNERGY WITH LOCAL & NATIONAL AD FUNDS4 IMPROVING MEMBER EXPERIENCE AND LOYALTY5
Slide 65: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 66: Bill Bode, Chief Operating Officer
BILL BODE CHIEF OPERATING OFFICER
Slide 67: Executing a High Value Member Experience
77 EXECUTING A HIGH VALUE MEMBER EXPERIENCE
Slide 68: Planet Fitness Vision
Build the largest, most inspiring fitness community where all members are proud to belong. PLANET FITNESS VISION
Slide 69: First Days, Format-Optimized Club, Black Card Spa Evolution
FIRST 100 DAYS FORMAT-OPTIMIZED CLUB BLACK CARD SPA EVOLUTION 1 2 3
Slide 70: First Days
FIRST 100 DAYS
Slide 71: Strengthen the Welcome Experience
Strengthen the WELCOME experience.
Slide 72: Connect Key Elements
CONNECT KEY ELEMENTS Social Media In club Digital Systems App & Web Brand Comms Club Design Team Member Member
Slide 73: Best-in-Class Member Experience
Recognition: ‘I feel seen’ Connected: ‘I fit in’ Continuous Value: ‘I keep getting more’ Lightly Gated: ‘I feel special’ Seamless: ‘It's intuitive’ Clear Purpose: ‘I’m part of something that matters’ BEST-IN-CLASS MEMBER EXPERIENCE
Slide 74: Format Optimized Club
Formatae nine ormat ai Ay. Optimiz Club" ~
Slide 75: State of Strength
85 STATE OF STRENGTH
Slide 76: Current Club 2026
planet fitness: INVESTOR DAY CURRENT CLUB 2026 awe hi miele ip i
Slide 77: planet fitness
planet fitness INVESTOR DAY -Whieb oe Bowl
Slide 78: Reduced Cardio
Reduced Cardio
Slide 79: planet fitness
planet fitness INVESTOR DAY VEUUErrerey PEL
Slide 80: planet fitness
planet fitness INVESTOR DAY
Slide 81: Mobility and Stretching, Fit Benches, HIIT Zone
Mobility and Stretching Fit Benches HIIT Zone
Slide 82: Mobility and Stretching, Fit Benches, HIIT Zone
Mobility and Stretching Fit Benches HIIT Zone
Slide 83: Additional Plate Loaded Machines
Additional Plate Loaded Machines
Slide 84: Additional Plate Loaded Machines
Additional Plate Loaded Machines
Slide 85: Half Racks – Platforms, Turf
Half Racks – Platforms Turf (optional)
Slide 86: Half Racks – Platforms, Turf
Half Racks – Platforms Turf (optional)
Slide 87: New Club Performance, Joins, NPS, Attrition
NEW CLUB PERFORMANCE JOINS NPS ATTRITION
Slide 88: Black Card Spa Evolution
Black Card Spa Evolution
Slide 89: Current State and Future State
planet fitness: INVESTOR DAY 2025 CURRENT STATE FUTURE STATE
Slide 90: Dry Plunge, Hyperice Recovery
DRY PLUNGE HYPERICE RECOVERY Considerers Switchers
Slide 91: Red Light, Infrared Sauna, Recovery Amenities
RED LIGHT INFRARED SAUNA WELLFIT SKIN HYDRATION RED LIGHT RECOVERY PRO
Slide 92: Test & Learn in 2026
TEST & LEARN IN 2026
Slide 93: Black Card Spa Amenities Feedback
Members try new amenities Scan QR code OR email link Immediate Member feedback BLACK CARD SPA AMENITIES FEEDBACK Assess usability Gather feedback Influence marketing Influence training
Slide 94: Planet Fitness Vision
PLANET FITNESS VISION Build the largest, most inspiring fitness community where all members are FIRST 100 DAYS 2 FORMAT-OPTIMIZED CLUB 3 BLACK CARD SPA EVOLUTION
Slide 95: Chip Ohlsson, Chief Development Officer
CHIP OHLSSON CHIEF DEVELOPMENT OFFICER
Slide 96: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 97: Accelerating Club Growth
ACCELERATING CLUB GROWTH
Slide 98: International Growth
INTERNATIONAL GROWTH
Slide 99: Million+ Members Across International Markets
Across our international markets 1 MILLION+ MEMBERS
Slide 100: Growing Our Brand Internationally
SPAIN 10 CLUBS GROWING OUR BRAND INTERNATIONALLY *September 30, 2025 CANADA 84 CLUBS MEXICO 36 CLUBS PANAMA 8 CLUBS AUSTRALIA 25 CLUBS
Slide 101: Growing in Spain
…AND ALSO GROWING IN SPAIN GROWING IN SPAIN
Slide 102: zona libre dé
zona libre dé pf alfafar
Slide 103: Strong AUV Ramps
STRONG AUV RAMPS Monthly AUV § 6 7 B United States (2024 Openings)
Slide 104: Strong Value Proposition
STRONG VALUE PROPOSITION 22 27.6 81 0 10 20 30 40 50 60 70 80 90 Spain Net Promoter Score Comparison Development Experience Corp Sector Avg by OCP PF
Slide 105: 116
116
Slide 106: A Disciplined Approach to Global Growth
A DISCIPLINED APPROACH TO GLOBAL GROWTH PRIORITIZING NEW MARKET OPPORTUNITIES RECRUITING WELL-ESTABLISHED LOCAL OPERATORS SUCCESSFULLY OPEN NEW MARKETS Target: 1-2 new markets per year
Slide 107: Domestic Growth
DOMESTIC GROWTH
Slide 108: Q2 2025 U.S. Retail Real Estate
• Record low of new supply at 6.98M SF — lowest since 2000 • Negative absorption amid retail bankruptcies – likely extend into 2026 • Availability tight at 5.3% Source: MarketsGroup https://www.marketsgroup.org/news/us-retail-leasing-volume-declines-in-q2-2025-amid-uncertainty-lack-of-prime-supply Q
Slide 109: Strategies to Unlock Real Estate Opportunities
STRATEGIES TO UNLOCK REAL ESTATE OPPORTUNITIES PARTNERING WITH FRANCHISEES RELATIONSHIPS WITH LANDLORDS CONVERSION OPPORTUNITIES
Slide 110: Partnering with Franchisees
•Consents and Approvals •Negotiations •Leases •Brand Favorability Data •Portfolio Reviews •Landlord and Retailer Decks •Co-Tenancy •Multiple Deals PARTNERING WITH FRANCHISEES
Slide 111: Why We're the Right Choice for Landlords
WHY WE'RE THE RIGHT CHOICE FOR LANDLORDS
Slide 112: Planet Fitness Drives Traffic to Co-Tenants
PLANET FITNESS DRIVES TRAFFIC TO CO-TENANTS 76% of PF Members Combine Gym Visits w/ Other Shopping 89% of PF Members Shop at Retailers Within Club’s Center
Slide 113: Daily Visit Distribution
DAILY VISIT DISTRIBUTION Specialty Food Retailer Planet Fitness Specialty Food Retailer Source: Placer
Slide 114: Conversion Opportunities
CONVERSION OPPORTUNITIES
Slide 115: Before / After
BEFORE AFTER
Slide 116: Texas Family Fitness Black Card Spa Before
TEXAS FAMILY FITNESS BLACK CARD SPA BEFORE
Slide 117: Texas Family Fitness Black Card Spa After
TEXAS FAMILY FITNESS BLACK CARD SPA AFTER
Slide 118: Texas Family Fitness - Cardio and Strength
TEXAS FAMILY FITNESS - CARDIO AND STRENGTH BEFORE AFTER
Slide 119: Texas Family Fitness - Cardio and Strength
TEXAS FAMILY FITNESS - CARDIO AND STRENGTH BEFORE AFTER
Slide 120: Construction Efficiencies
CONSTRUCTION EFFICIENCIES
Slide 121: ~$3.0M Average Club Cost
~$3.0M AVERAGE CLUB COST* *Actual 2025 construction cost depends on market, size of club, and other external factors.
Slide 122: Innovations Summary
INNOVATIONS SUMMARY • Remove standalone counter • Reduce size • Integrate iPads into front desk LOBBY • Move behind front desk • Reduce size • Explore open ceiling • Explore shower partition LOCKER ROOMS • Reposition • Recovery modalities • Enhance visibility BLACK CARD SPA Correct
Slide 123: Construction Cost Target Reduction
CONSTRUCTION COST TARGET REDUCTION >10% savings Category: Walls & Finishes Ceilings & Structural Fixtures Signage, Glass & Branding =
Slide 124: Concept Club
CONCEPT CLUB
Slide 125: Concept Layout
CONCEPT LAYOUT
Slide 126: Slide 126
Slide 127: Slide 127
Slide 128: Unlocking Territory for Growth
UNLOCKING TERRITORY FOR GROWTH
Slide 129: Right Territory - Right Real Estate - Right Franchisee
Right Territory - Right Real Estate - Right Franchisee 60%18% 6% 16% PROACTIVE ADA OPTIMIZATION Amended resulting in increased pipeline Terminated & resold to incumbent franchisees resulting in increased pipeline Recast with increased pipeline, and resold to existing franchisee Transferred resulting
Slide 130: Establish Franchise Sales Function
ESTABLISH FRANCHISE SALES FUNCTION Key actions to drive accelerated growth: • Smaller ADAs, shorter timeframes with local owner/operators • Create digital marketing plan (SEO & SEM) • Calibrate real estate data and analytics FRANCHISE SALES TOOLS • Diversify and augment franchisee base • Qualify and
Slide 131: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025
Slide 132: Jay Stasz, Chief Financial Officer
JAY STASZ CHIEF FINANCIAL OFFICER
Slide 133: We're Leveraging Our Scale
WE'RE LEVERAGING OUR SCALE TO: DRIVE PROFITABLE GROWTH EXPAND OUR COMPETITIVE EDGE STRENGTHEN OUR INDUSTRY LEADERSHIP
Slide 134: Planet Fitness Is an Industry-Leading Franchised Growth Company
PLANET FITNESS IS... AN INDUSTRY-LEADING FRANCHISED GROWTH COMPANY WITH A CAPITAL-LIGHT MODEL THAT DELIVERS STRONG CASH FLOW
Slide 135: Consistent Track Record of Growth
Total Units Total Members CAGR: 5.9% CAGR: 9.4% Franchised Corporate-owned % Fran. CONSISTENT TRACK RECORD OF GROWTH 2,021 2,142 2,176 2,319 2,445 2,514 103 112 234 256 277 281 2,124 2,254 2,410 2,575 2,722 2,795 2020 95% 2021 95% 2022 90% 2023 90% 2024 90% Q3 2025 90% 13.5M 15.2M 17.0M 18.7M 19.7M
Slide 136: Consistent Track Record of Growth
1. See the appendix at the end of the presentation System-wide Sales ($M) Adjusted EBITDA 2 ($M) CAGR: 8.4% 1 CAGR: 11.8% 1 % Growth FCF 3 % Margin CONSISTENT TRACK RECORD OF GROWTH 2. Reflects 2019 to LTM Q3 2025 CAGR excludes impact of COVID-19 pandemic in 2020 3. Free cash flow (FCF) def ined as
Slide 137: Consistent Track Record of SCS Growth
CONSISTENT TRACK RECORD OF SCS GROWTH Pre-COVID: Current: 53 straight quarters 17 straight quarters1 1. Through Q3 2025
Slide 138: Club Level Returns, Capital Allocation Strategy, Growth Algorithm
CLUB LEVEL RETURNS CAPITAL ALLOCATION STRATEGY 3 YEAR GROWTH ALGORITHM pf1 2 3
Slide 139: Club Level Returns
1 CLUB LEVEL RETURNS
Slide 140: Strengthening Club Returns
STRENGTHENING CLUB RETURNS •New growth model •CC and BC price increase •Blue Ribbon team •Strategic imperatives •Value engineering •Procurement
Slide 141: Successive Cohorts Ramping Faster in First Year Open
SUCCESSIVE COHORTS RAMPING FASTER IN FIRST YEAR OPEN New clubs opened in U.S. since 2H 2024 benefitting from New Growth Model and Classic Card price increase Months Open 1 2 3 4 5 6 7 8 9 10 11 12 A U V $s Monthly AUV Ramp by Cohort 1H-25 New Clubs 2H-24 New Clubs 2021 to 1H-24 New Clubs IRR Target
Slide 142: Capital Allocation
CAPITAL ALLOCATION2
Slide 143: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES 1 2 3 Invest in the Business Shareholder Return Optimized Capital Structure Investing in growth Committed to share buyback program Operating within target leverage levels
Slide 144: Disciplined Investment in Business for Growth
DISCIPLINED INVESTMENT IN BUSINESS FOR GROWTH Focused on highest return opportunities: o Scalable technology o Innovation o Corporate clubs o Opportunistic
Slide 145: Returned to Shareholders via Share Repurchases Since 2018
RETURNED TO SHAREHOLDERS VIA SHARE REPURCHASES SINCE 2018 $1.5B
Slide 146: Optimized Capital Structure
OPTIMIZED CAPITAL STRUCTURE Gross Leverage Ratio Total Debt/AEBITDA Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 7.0x 6.0x 5.0x 4.0x 3.0x 4.7x 4.6x 4.4x 4.8x 4.7x 4.5x 4.4x 4.2x 4.1x Target Leverage Range = 4.0-6.0x Debt structure and capacity allows for capital efficiency and reasonable le
Slide 147: Growth Algorithm
3 YEAR GROWTH ALGORITHM
Slide 148: 2026 - 2028 Growth Algorithm
2026 - 2028 GROWTH ALGORITHM Adjusted EBITDA Revenue Adjusted EPS Low-Double Digit % CAGR Mid-Teens % CAGR Mid-to-High Teens % CAGR
Slide 149: Revenue
REVENUE Rate ~75 % Volume ~25 % Franchise Corporate 3-Year Growth Targets Low-Double Digit % CAGR Same Club Sales Mid-Single % New Club Unit Growth 6-7 % Domestic International
Slide 150: Adj. EBITDA
ADJ. EBITDA SG&A Leverage Corporate Club 4-Wall Margin Expansion Expenses grow less than revenue 3-Year Growth Targets Mid-Teens % CAGR SG&A LeverageCorporate Club 4-Wall Margin Expansion
Slide 151: Adj. EPS
ADJ. EPS 3-Year Growth Targets Mid-to-High Teens % CAGR Interest Rates Share Repurchase
Slide 152: 2026 - 2028 Growth Algorithm
2026 - 2028 GROWTH ALGORITHM Adjusted EBITDA Revenue Adjusted EPS Low-Double Digit % CAGR Mid-Teens % CAGR Mid-to-High Teens % CAGR
Slide 153: Planet Fitness Is an Industry-Leading Franchised Growth Company
PLANET FITNESS IS... AN INDUSTRY-LEADING FRANCHISED GROWTH COMPANY WITH A CAPITAL-LIGHT MODEL THAT DELIVERS STRONG CASH FLOW
Slide 154: Planet Fitness Investor Day 2025
planet fitness INVESTOR DAY 2025