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MISSION: WE OFFER PEOPLE AROUND THE WORLD A BETTER PATH TO WELLNESS AND A HEALTHY VIBRANT LIFE.
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P R E S E N T A T I O N T I T L E I N V E S T O R P R E S E N T A T I O N Forward Looking Statements This presentation contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as “believe,” “hopes,” “intends,” “estimates,” “expects,” “projects,” “plans,” “look forward to,” “anticipates” and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. These forward-looking statements are not guarantees of performance and actual results could differ materially from those contained in such statements. These forward-looking statements are based on our current expectations and beliefs concerning future events affecting us and involve known and unknown risks and uncertainties that may cause our actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties are discussed in greater detail in our Annual Report on Form 10-K and Quarterly Report on Form 10-Q under the caption “Risk Factors” and in other documents filed by us from time to time with the Securities and Exchange Commission. We caution you not to place undue reliance on the forward-looking statements contained in this presentation. All forward-looking statements are based on information currently available to us as of today, and we undertake no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law. SAFE HARBOR STATEMENT HEALTH CLAIMS DISCLAIMER Statements made in this presentation and appendices have not been evaluated by the Food and Drug Administration. LifeVantage products are not intended to treat, cure, prevent or mitigate any disease. The statements in this presentation are for investors’ educational purposes only. 2
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P R E S E N T A T I O N T I T L E I N V E S T O R P R E S E N T A T I O N LifeVantage Fact Sheet NASDAQ Ticker LFVN Shares outstanding1 12.7 million Market Capitalization1 $78.9 million Average Daily Volume1 166,481 Cash at September 30, 2025 $13.1 million Debt at September 30, 2025 Debt free (1) Source: Factset as of Jan. 6, 2026. (2) A reconciliation of non-GAAP measures is included in the appendix to this presentation. Fiscal year ends June 30. Share price1 $6.21 Float1 9.7 million Enterprise Value1 $65.8 million Fiscal 2025 Revenue $228.5 million Fiscal 2025 Adjusted EBITDA2 $22.1 million Fiscal 2025 Adjusted EPS2 $0.82 3
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P R E S E N T A T I O N T I T L E I N V E S T O R P R E S E N T A T I O N LifeVantage At a Glance • Pioneer in Activation and nutrigenomics with patented, scientifically validated products that work with your unique biology and help your body make what it needs for health • Direct Sales industry-leader with sales force of independent Consultants and approximately 121,000 active consumers across 20 markets worldwide • Approximately 70% of total revenues are on monthly subscription • Highly variable cost structure with minimal capital requirements • Pristine balance sheet with large and reliable free cash flows • Fiscal 2025 sales of $229 million, adjusted EBITDA of $22 million or 9.7% • Market cap of approximately $79 million • Returned over $19 million of capital to shareholders since the beginning of fiscal 2024 4
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I N V E S T O R P R E S E N T A T I O N Working in partnership with thousands of Independent Consultants around the world, LifeVantage, the Activation Company, activates many aspects of wellness. We ACTIVATE physical wellness, inside and out, with products that help your body make what it needs for health using industry-leading nutrigenomic science. #takeittomakeit We ACTIVATE financial, social, and community wellness through direct selling to help a global network of independent Consultants earn extra income in a way that fits their life. Our mission is to inspire the remarkable through wellness products and entrepreneurial programs that help people feel better and fuel their purpose. ACTIVATING WELLNESS AROUND THE WORLD THROUGH DIRECT SALES 5 The Activation Company
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I N V E S T O R P R E S E N T A T I O N Optimal Position for Direct Sales Industry See the Sales by Product Category Report here: https://heyzine.com/flip-book/WFDSASTATS2024#page/28 ADDRESSING THE TWO LARGEST CATEGORIES IN THE LARGEST MARKETS 6 LIFEVANTAGE OPERATES IN 6 OF THE 10 LARGEST DIRECT SELLING MARKETS GLOBALLY
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I N V E S T O R P R E S E N T A T I O N 7 Note: Company revenue as of the quarter ended 9/30/2025 $167.7 Billion Industry* USA, Canada, Puerto Rico, Mexico Japan, Taiwan, Hong Kong, Singapore, Thailand, New Zealand, Australia, Philippines 78% 19% Activation Around the Globe LIFEVANTAGE PERCENTAGE OF SALES BY AREA Europe 3% Europe 22% Asia Pacific 40% Africa/ME 1% Americas 37% *Source: World Federation of Direct Selling Associations 2023 Data
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I N V E S T O R P R E S E N T A T I O N 8 • Leader in the emerging microbiome health sector • Started in 2022 • Driven by a mission to help people live long, healthy meaningful lives through superior and innovative microbiome care. • Desire to be the most advanced approach to microbiome health on the market led to the development of P84, which launched in March 2025. • Active Consultant base in US, Taiwan, and Europe • September 3 – Acquisition announcement • October 1 – Acquisition close, product integration beings (rolling) • November 1 – Integration into Evolve Compensation Plan * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease. Acquisition of LoveBiome TIMELINE
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I N V E S T O R P R E S E N T A T I O N THIS IS A SUB-HEADING As the years go by, the toll of time, the environment, and daily choices add up. Most turn to supplements to fill the voids left by modern life. But the truth is, supplements meet basic needs but often fall short when it comes to restoring true health. With Activation, you #takeittomakeit. We take supplementation a step further, using unique, science-based formulas that unlock your genes to restore optimal cellular function. This superior approach to wellness works with your biology, empowering your body to make the things (antioxidants, proteins, peptides, hormones, etc.) you need for better health. The Activation Approach - Take It To Make It 9
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I N V E S T O R P R E S E N T A T I O N 10 PATENTED Several U.S. and international patents, including “Compositions And Methods For Alleviating Inflammation In A Mammal” SCIENCE BACKED Studies conducted at the following institutions: Ohio State University Louisiana State University University of Colorado Denver Virginia Commonwealth University Colorado State University Texas Tech University Auburn University PEER-REVIEWED PUBLISHED RESEARCH Free Radical Biology & Medicine Enzyme Research Circulation American Journal of Physiology— Lung Cellular and Molecular Physiology Protandim® Nrf2 TAKE IT Antioxidants MAKE IT Oxidative stress is a key contributor to the signs of aging, and Protandim Nrf2 Synergizer is the only supplement shown to reduce oxidative stress by 40% in just 30 days. Support your body’s own production of powerful antioxidants to fight the signs of aging. Did you know your own antioxidants are more than 1,000,000X more powerful than any supplement you can take? * * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
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I N V E S T O R P R E S E N T A T I O N 11 Healthy Glow Essentials TAKE IT Antioxidants, Collagen MAKE IT Life is hard on your body. You need antioxidants to fight stress, stay balanced and recover. You need collagen support because it's crucial and your body stops making enough in your early 20’s. Do nothing and let life and aging process take things downhill, or you can take the patent-pending Healthy Glow Essentials Stack. While Protandim Nrf2 reduces oxidative stress, TrueScience® Liquid Collagen increases collagen density by 100% by activating the body’s collagen production, replenishing depleting collagen levels, and maintaining those levels by reducing enzymes that break down collagen. Together, these products work in tandem to break the cellular stress cycle and restore vital immune function.* * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
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I N V E S T O R P R E S E N T A T I O N 12 MindBody GLP-1 System TAKE IT GLP-1 MAKE IT This innovative, patent-pending System is clinically shown to naturally increase GLP-1 by an average of 200% as it balances hunger hormones—no injections or prescriptions required. Build better habits, achieve your ideal weight, and become a stronger, healthier you.◊*‡Ω MindBody GLP-1 System Benefits • Naturally increases GLP-1 Ω • Supports sustainable weight loss and wellness for results you can see and feel *‡ • Helps balance hunger hormones to increase satiety via gut-brain axis, so you feel fuller, longer* • Quiets “food noise” to cut down cravings and reduce the desire to snack* • Helps maintain blood sugar levels already within a normal healthy range* ‡ Results may vary. Typical weight loss using this product in a 12-week weight management program is 1–2 pounds per week. This product should be used in conjunction with a healthy diet and regular exercise. Consult with a healthcare provider before starting any weight loss program. Ω Results based on a randomized 12-week human clinical study. ◊ MindBody is a dietary supplement and not a replacement for any prescription therapy for a disease. * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
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I N V E S T O R P R E S E N T A T I O N 13 Key findings from U.S. clinical studies on the MindBody GLP-1 SystemTM include: • Over 200% average increase in GLP-1 over 12 weeks‡‡ • Average weight loss of 11 pounds within 12 weeks, with some participants losing up to 25 pounds‡,‡‡ • Up to 9% decrease in total body fat percentage‡,‡‡ • Up to 24% decrease in visceral fat‡,‡‡ • Up to 9% decrease in subcutaneous fat‡,‡‡ • Up to 6% increase in skeletal muscle‡‡ • 100% of weight lost was from fat, not muscle‡,ΩΩ In addition to these physical results, participants reported notable changes in their relationship with food: • 95% reported decreased sugar cravingsΩΩ • 89% reported decreased fast-food cravings§§ • 86% reported decreased cravings for salt and soda§§ • 85% now eat for health instead of emotionsΩΩ • 81% reported increased ability to resist snacking§§ • 89% ate less at meals§§ • 86% reported feeling less hungry§§ * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease. Transformative, Patent-Pending Results ‡‡ Results based on the averaged data of two 12-week randomized human clinical studies. ΩΩ Results based on a randomized 12-week human clinical study (Study A, N=56). §§ Results based on a randomized 12-week human clinical study (Study B, N=107). ‡ Results may vary. Typical weight loss using this product in a 12-week weight management program is 1–2 pounds per week. This product should be used in conjunction with a healthy diet and regular exercise. Consult with a healthcare provider before starting any weight loss program.
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I N V E S T O R P R E S E N T A T I O N 14 What is GLP-1? GLP-1 (Glucagon-like Peptide – 1) is a hormone produced naturally in the lower GI tract. It regulates appetite and blood sugar levels, while slowing down the rate at which food leaves the stomach. GLP-1 communicates with the brain along the brain-gut axis to promote feelings of fullness or satiety, among other important health benefits. When GLP-1 is at ideal levels in your body, we are less likely to overeat or succumb to cravings. However, genetics, poor diet, and a sedentary lifestyle can lead to low GLP-1 levels in the body The patent-pending MindBody GLP-1 System targets a demographic looking for a natural approach to GLP-1 health benefits. Staying true to the Activation differentiation, this innovative, two-product solution is clinically shown to increase GLP-1 production naturally with a powerful blend of nutrients. This approach works with your body instead of against it, aiming to balance levels of naturally occurring GLP-1. * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease. A Natural Approach
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I N V E S T O R P R E S E N T A T I O N 15 In recent years, drugs including those classified as semiglutides and tirzepatides, have not only changed the approach to diabetes treatments, but obesity and weight management as well. This broad class of drugs work by mimicking hormones that stimulate the release of insulin to increase feelings of fullness and reduce appetite. The GLP-1 drug market was valued at USD 19.2 B in 2023. The industry is projected to grow from USD 23.2 B in 2024 to USD 88.2 B by 2032, a compound annual growth rate (CAGR) of 21.00%. The development of next-generation therapies, increasing prevalence of diabetes and preference for non-insulin therapies are primary drivers for propelling the market growth. Understanding the Weight Loss Market GLP-1 MARKET OVERVIEW Interest in GLP-1 is fueled by a market looking for solutions with 82% of adults currently managing weight. The number of US adults (18+) in 2021 = ~260.9 M 120 M trying to lose weight 73.1 M trying to maintain weight 20.8 M trying to gain weight WEIGHT MANAGEMENT IN THE US 46% 28% 8% 18% I am currently trying to lose weight I am currently trying to maintain my weight I am currently trying to gain weight Not currently managing weight 15
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I N V E S T O R P R E S E N T A T I O N 16 LoveBiome P84 TAKE IT Gut Peptides MAKE IT Your gut plays an essential role. Often referred to as your second brain, it's in constant communication to ensure your entire body is functioning properly. However, your gut gets hit hard with daily attacks from your environment, diet, lifestyle and aging factors. Things can get out of balance – fast. When it comes to gut health, most people think supplementing their microbiome with pre and probiotics will solve their concerns. But it's confusing to know what you need and supplementation will never address the root issue. P84 is your easy, all-inclusive, delicious daily antidote to the onslaught, blending naturally derived ingredients that work together to help your body address gut issues at the root source –regulating, repairing and restoring this vital organ from the lining to the microbiome. It's a 3 in 1 approach that takes out all the guesswork, activating your cells so your gut, and health, can thrive – despite the daily onslaught.* A new, more foundational approach to gut health is here – P84. * These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
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I N V E S T O R P R E S E N T A T I O N 17 The gut health market represents one of the most exciting frontiers in wellness and preventive care, with strong momentum and long-term growth potential. Global gut health supplement sales are projected to reach $14.4 billion in 2025, with forecasts indicating an expansion to $32.4 billion by 2035, fueled by a robust CAGR of 8.4%. This growth is driven by the rapidly increasing recognition of the gut microbiome as a cornerstone of systemic health—impacting immunity, mental well-being, metabolism, and chronic disease prevention. As consumer awareness rises and science continues to validate the central role of gut health, the market is poised for sustained demand, offering investors a compelling opportunity to participate in a category that sits at the intersection of science, consumer lifestyle, and long-term health outcomes. Gut Health: A $32B Market Opportunity Transforming Global Wellness QUICK STATS 17 • INDUSTRY VALUE (2025): USD 14,432.0 MILLION • FORECAST VALUE (2035): USD 32,390.0 MILLION • FORECAST CAGR: 8.4% • LEADING SEGMENT IN 2025: PROBIOTIC SUPPLEMENTS (41.2% SHARE) • KEY GROWTH REGION: NORTH AMERICA, ASIA-PACIFIC, EUROPE
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I N V E S T O R P R E S E N T A T I O N Stacks + Subscriptions for Health Synergies — Inside and Out We offer several product stacks designed for Subscription. Each provides a unique health solution by delivering activation synergies when the products are used together. Consumers save on products and see and feel even more benefits while Consultants earn more from higher overall consumer spending. Subscriptions are a proven business strategy to encourage consumers to stay longer and spend more. Recurring Subscription orders account for 70% of monthly revenue. 18
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I N V E S T O R P R E S E N T A T I O N 19 Our new Evolve Compensation Plan helps Consultants activate financial wellness and evolve possibilities in their lives. They can choose to earn supplemental income solely through Customer sales or also by building a team of Consultants. And their Consultant Path clearly progresses through 3 stages: Share, Build & Grow, and Lead. A LifeVantage business is flexible, allows people to make a positive difference in the lives of others by sharing products they love, and creates opportunities for growth—personally and professionally. Modernized Compensation Plan Attracts Independent Business Owners
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HISTORY & FOCUS FOR THE FUTURE 20
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I N V E S T O R P R E S E N T A T I O N Significant Progress with Key Strategic Initiatives PRODUCT / PLATFORM DEVELOPMENT / CAPITAL ALLOCATION
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I N V E S T O R P R E S E N T A T I O N 22 Laser-Focused on the Experience Since the launch of LV360 initiatives in 2023, LifeVantage has been laser- focused on increasing active monthly purchasers - enrolling new business builders and Customers, and retaining them longer - by focusing on six elements of our direct sales business – product, social, compensation, consumer experience, community and digital. The key is ensuring every piece of our business fits together to create an excellent experience for everyone. GUIDING VALUES Attract through wellness innovation Engage through connections and trust Empower each other to achieve the remarkable Delight with every experience
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I N V E S T O R P R E S E N T A T I O N 23 #1 Product HIGHLIGHTS Attract and retain new consumers with exciting products that fit current industry trends, meet a true health need, and are socially shareable. Our Activators are scientifically shown to be nutrigenomically active, and every product is designed with high- quality ingredients proven to provide demonstrable benefits. New LoveBiome P84 launched in 2025, attracts growing gut health consumers with comprehensive approach. New MindBody GLP-1 System launched in the US market October 2024 and internationally in 2025. TrueScience® recently leveled up with the latest in skin science for more visible benefits. The Activated Skin Care Collection is a simple and effective 4-step skin care regimen: TrueClean Refining Cleanser to cleanse and exfoliate; TrueRenew Daily Firming Complex for a cleaner, kinder retinol alternative; TrueLift Illuminating Eye Cream for 360° eye-area benefits; and TrueHydrate Brightening Moisturizer to deliver hydration and anti-aging benefits.
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I N V E S T O R P R E S E N T A T I O N Attraction of Consultants with active social presence. Engaged our community by educating them about the science behind our products and motivating them with our LifeVantage mission and the benefits of being a Consultant. Created shareable video content to attract new customers, increase enrollers, and turn them into raving fans. Fostered a sense of active engagement by resharing social stories and maintaining Consultant Facebook groups. Equipped our field with knowledge and training through monthly product and business trainings. HIGHLIGHTS Inspire a growing, engaged social community that encourages wellness enthusiasts to feel better, fuel their purpose, and celebrate what it means to live activated. LifeVantage shares performance- driven digital content that creates conversations and attracts and delights consumers with the right message at the right time. #2 Social 24
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I N V E S T O R P R E S E N T A T I O N Fully redesigned Evolve Compensation Plan and product pricing structure supports profitability for the Company and the Consultants. Evolve drives the right business-building behaviors at each stage of the Consultant Path, progressing through Share, Build & Grow, then Lead to create long-term product sales and leadership development. You #EvolveAndEarn. Rewards Circle loyalty program supports Consultants’ ability to retain Customers longer. Business incentives, including Drive ERA, create excitement and engagement. HIGHLIGHTS Modernized Evolve Compensation Plan helps new Consultants earn faster, rewards them for any way they want to work, and gives them the flexibility to earn only on sales to Customers or also through building a team of Consultants. #3 Compensation 25
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I N V E S T O R P R E S E N T A T I O N 26 Build trust, create positive experiences, and provide compelling motivators for placing repeat orders. #4 Consumer Experience Created LifeVantage® Rewards Circle loyalty program in which Customers can earn credits to use for future orders when they order products on Subscription. Consultants also receive shareable Discount Codes when their personal Subscription is sent. Offered tailored promotions to active Subscribers. Started an automated welcome series of emails for Customers to encourage repeat orders through education and special offers for additional purchases. HIGHLIGHTS
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I N V E S T O R P R E S E N T A T I O N 27 Create a connected, digital-first culture to enhance customer relationships and support the Consultant experience. #5 Digital Recently announced partnership with Shopify with better converting, AI-powered website launching 2026. Improved website experience and Shop by Solution functionality. Streamlined subscription and order management. Enhanced global LifeVantage App to help Consultants build their business with shareable coupons and sample tracking. HIGHLIGHTS
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I N V E S T O R P R E S E N T A T I O N 28 Grow the community of those positively impacted by LifeVantage through building our Activation Nation and by leaving a legacy of a better world for all. #6 Activation Nation Community Increased number of events to 4 times per year – 2 virtual and 2 in-person—to help keep Consultants active and engaged. Introduced comprehensive Evolve Perks program to motivate and recognize Consultant success at all ranks. Continued work toward meeting established goals for environmental, social, and governance priorities. Supported LifeVantage Legacy through service projects at events, employee community service hours, and by ongoing donations for those in need. HIGHLIGHTS
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I N V E S T O R P R E S E N T A T I O N 29
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I N V E S T O R P R E S E N T A T I O N *A reconciliation of non-GAAP items, including Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Diluted Share, is included in the appendix of this presentation. Business Model LIFEVANTAGE 30 (as % of revenue) FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Long-term Target Gross Margin 82.7% 81.5% 79.7% 79.3% 80.4% 80.0% Commissions and Incentives 47.0% 47.1% 44.4% 42.9% 44.7% 43.0% SG&A* 26.9% 30.7% 32.9% 31.3% 29.8% 28.0% Operating Margin* 8.7% 3.7% 2.4% 5.0% 5.8% 9.0% Adjusted EBITDA Margin* 11.3% 6.2% 5.5% 8.5% 9.7% 12.0%
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I N V E S T O R P R E S E N T A T I O N Revenues 31 •FY25 revenue increased 14.2% vs. FY24 •The midpoint of our FY26 revenue guidance of $225 million to $240 million represents a 2% increase over FY25 $- $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 2023 2024 2025 2026E Revenue (USD in thousands)
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I N V E S T O R P R E S E N T A T I O N Revenues by Geography 32 •Currently selling products in 20 countries •USA largest market at 78% in FY25 •Japan next largest at 11% in FY25 $148,522 $145,679 $178,442 $32,083 $26,989 $25,394 $32,793 $27,496 $24,694 $- $50,000 $100,000 $150,000 $200,000 $250,000 2023 2024 2025 Revenue (USD in thousands) US Japan ROW
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I N V E S T O R P R E S E N T A T I O N Strong Balance Sheet 33 •Debt Free •$26.2M in working capital at 9/30/25 •Clean Equity – only one class of common shares outstanding •$5M Revolving line of credit available •$75M Shelf Registration in place (USD in thousands) September 30, 2025 September 30, 2024 Cash and Cash Equivalents 13,091$ 14,596$ Inventory 20,594 16,914 Total Current Assets 45,048 38,815 Total Assets 61,579$ 61,460$ Total Current Liabilities 18,829 22,072 Total Liabilities 28,422$ 33,763$ Total Stockholders Equity 33,157 27,697 Total Liabilities and Stockholders Equity 61,579$ 61,460$
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I N V E S T O R P R E S E N T A T I O N Source: Factset as of 9/2/2025 Robust Capital Allocation Priorities 34 CASH FROM OPERATIONS Invest in Growth Return Value to Stockholders •Dividends •Current quarterly dividend $0.045/share •Special dividend of $0.40/share (Sep’23) •Paid $9.6M in dividends since the beginning of Fiscal 2024 •Share Repurchase •Repurchased $10.2M or 1.3M shares since the beginning of Fiscal 2024 •$16.7M remaining under current authorization Strong Balance Sheet – Debt Free •Expand Capabilities •New Product Development •LV360 Initiatives •IT investment •Strategic Acquisitions
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I N V E S T O R P R E S E N T A T I O N Summary LIFEVANTAGE Well-positioned with on-trend, scientific products in a growing, global sales channel Continuous focus on product innovation, international market expansion, and positive experiences Subscription-based business model with strong cash flow and high incremental margins Modern business model allows Consultants multiple paths to income by rewarding them for selling to Consultants who also want to start a business AND to Customers who prefer to only purchase products. 35
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I N V E S T O R P R E S E N T A T I O N 36
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I N V E S T O R P R E S E N T A T I O N PRESIDENT & CEO, BOARD MEMBER | 03.01.2017 Joined LifeVantage as Chief Financial Officer and named Interim President and CEO in 2020 before his role became permanent in 2021. Certified Public Accountant who has served a variety of financial leadership roles for a professional services firm and several publicly traded companies. Steve Fife Carl Aure CHIEF FINANCIAL OFFICER | 10.26.2021 Certified Public Accountant with more than 24 years of finance and accounting experience and more than 15 years in direct selling. Michelle Oborn CHIEF PEOPLE OFFICER | 02.20.2009 Has led Human Resources team through growth from a small startup and international expansion to become a medium-sized enterprise, also oversees the LifeVantage Legacy 501©(3). GENERAL COUNSEL | 03.31.2021 Has served as legal counsel in roles at the local and national level, including in-house counsel for a global direct-selling company. Alissa Neufeld 37 CHIEF SALES OFFICER | 06.06.2022 Joined as Vice President of Field Development and named CSO in 2022. Has 15 years of experience managing sales and business development for global direct-selling companies. Kristen Cunningham Todd Thompson
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I N V E S T O R P R E S E N T A T I O N 38
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I N V E S T O R P R E S E N T A T I O N Raymond Greer CHAIRMAN OF THE BOARD | SINCE 2017 Expert in international logistics, supply chain, and technology and Current Operating Partner for Welsh Carson Anderson & Stowe, has served leadership roles at many software, logistics, and transportation companies. BOARD MEMBER | SINCE 2022 Current President of Latham Consulting Services with more than 35 years of experience driving revenue growth through leadership roles in strategic market planning, marketing, and new product development at global direct selling companies. Cindy Latham BOARD MEMBER | SINCE 2017 Retired long-time leader holding domestic and international roles with SC Johnson & Son, Inc., with extensive experience in managing sales and international operations for a global business. Darwin Lewis BOARD MEMBER | SINCE 2024 Mr. Anbalagan has been an independent member of our Board since August 2024. He has over 20 years of experience managing and executing large technology and e-commerce programs. Raj Anbalagan Michael Beindorff BOARD MEMBER | SINCE 2012 Experienced board advisor with wide-ranging experience across many business environments and current Principal & President at Far Niente group, has held multiple leadership roles with global brands, including Greentree Group, PlanetRX, VISA, Coca-Cola, and more. 39 Dayton Judd BOARD MEMBER | SINCE 2024 Mr. Judd has served as the CEO of FitLife Brands, Inc., is a founder and Managing Member of Sudbury Capital Management, LLC. Prior to that, a Portfolio Manager for Q Investments, L.P., a multi-billion- dollar hedge fund, and held various positions at McKinsey & Company, Inc. He currently serves as Chairman of FitLife. BOARD MEMBER | SINCE 2021 Before LFVN, he was CFO and COO at Evidera, Inc. Prior to that, he was CFO for several publicly traded companies, including Active Power, Inc. and LECG. He also served in several senior financial roles for Gilead Sciences, Amkor Technologies and JDS Uniphase. Steve Fife
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I N V E S T O R P R E S E N T A T I O N LifeVantage Board of Directors Our Board is currently comprised of 8 individuals selected based on numerous criteria, including experience, education, achievements, knowledge, professionalism, integrity, and sound judgment. BOARD OVERVIEW 40 *Director data measured as of September 20, 2024.
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I N V E S T O R P R E S E N T A T I O N LifeVantage Board of Directors 41 *Director data measured as of September 20, 2024. BOARD OVERVIEW
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I N V E S T O R P R E S E N T A T I O N 42
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I N V E S T O R P R E S E N T A T I O N DR. JOSEPH LIU, DC & DR. MARIA CUTLER, DC Dr. Brett Brimhall, DC DR. MAYENNE AGUIRRE, MD DR. JESSICA BUHLER, DC DR. CHERYL BONES, DC DR. JEFF PICCIRILLO, MD DR. MELODY RODARTE, DO DR. DORIAN BOSCH, MD DR. GAIL PEARSON, MD DR. KAT KADIN, DC DR. MIKE OKOUCHI, DC Scientific Advisory Board 43 The Scientific Advisory Board provides expert guidance on research, formula development, and emerging scientific trends, while supporting the LifeVantage R&D team in driving innovation and advancing product excellence.
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I N V E S T O R P R E S E N T A T I O N 45 Recent Operating Results Comparison *A reconciliation of non-GAAP items, including Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Diluted Share, is included in the appendix of this presentation. LIFEVANTAGE CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Most Recent Quarter Prior Year Period Year over Year Change Previous Sequential Quarter Sequential Change (In thousands, except per share data) Q1 of Fiscal 2026 Q1 of Fiscal 2025 % Q4 of Fiscal 2025 % Revenue, net 47,561$ 47,214$ 0.7% 55,114$ (13.7%) Cost of sales 9,745 9,491 11,065 Gross profit 37,816 37,723 0.2% 44,049 (14.2%) Commissions and incentives 20,695 20,305 23,222 Selling, general and administrative 14,853 14,848 18,679 Total operating expenses 35,548 35,153 41,901 Operating income 2,268 2,570 (11.8%) 2,148 5.6% Interest income, net 87 59 111 Other expense, net (114) (51) 137 Total other income (expense) (27) 8 248 Income before income taxes 2,241 2,578 2,396 Income tax expense (86) (752) (437) Net income 2,155 1,826 18.0% 1,959 10.0% EPS (Net income per share, basic) 0.17$ 0.15$ 13.3% 0.16$ 6.3% EPS (Net income per share, diluted) 0.17$ 0.14$ 21.4% 0.15$ 13.3% Weighted-average shares outstanding: Weighted average shares, basic 12,398 12,162 12,236 Weighted average shares, diluted 12,946 12,824 13,128 Non-GAAP Items Adjusted EBITDA* 3,921 4,428 (11.4%) 4,783 (18.0%) Adjusted Net income * 2,318 1,933 19.9% 2,256 2.7% Adjusted EPS (Net income per share, diluted)* 0.18$ 0.15$ 20.0% 0.17$ 5.9%
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I N V E S T O R P R E S E N T A T I O N 46 Historical Income Statements *A reconciliation of non-GAAP items, including Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Diluted Share, is included in the appendix of this presentation. LIFEVANTAGE CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) 2023 2024 2025 2024 2025 Revenue, net 213,398$ 200,164$ 228,530$ 47,214$ 47,561$ Cost of sales 43,387 41,440 44,864 9,491 9,745 Gross profit 170,011 158,724 183,666 37,723 37,816 Commissions and incentives 94,687 85,920 102,260 20,305 20,695 Selling, general and administrative 71,065 68,472 69,207 14,848 14,853 Total operating expenses 165,752 154,392 171,467 35,153 35,548 Operating income 4,259 4,332 12,199 2,570 2,268 Interest income (expense), net 198 430 431 59 87 Other expense, net (458) (412) (387) (51) (114) Total other income (expense), net (260) 18 44 8 (27) Income before income taxes 3,999 4,350 12,243 2,578 2,241 Income tax expense (1,459) (1,413) (2,438) (752) (86) Net income 2,540 2,937 9,805 1,826 2,155 EPS (Net income per share, basic) 0.20$ 0.24$ 0.80$ 0.15$ 0.17$ EPS income (Net per share, diluted) 0.20$ 0.23$ 0.75$ 0.14$ 0.17$ Weighted-average shares outstanding: Weighted average shares, basic 12,557 12,458 12,251 12,162 12,398 Weighted average shares, diluted 12,567 12,986 12,987 12,824 12,946 Non-GAAP Items Adjusted EBITDA* 11,721 16,962 22,111 4,428 3,921 Adjusted Net income * 3,055 7,614 10,649 1,933 2,318 Adjusted EPS (Net income per share, diluted)* 0.24$ 0.59$ 0.82$ 0.15$ 0.18$ Three Months ended September 30,Fiscal Year ended June 30,
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I N V E S T O R P R E S E N T A T I O N 47 Historical Balance Sheet and Cash Flows LIFEVANTAGE SUMMARIZED BALANCE SHEET AND CASH FLOW METRICS (Unaudited, in thousands, except per share data) 2023 2024 2025 2024 2025 Cash and Cash Equivalents 21,605$ 16,886$ 20,201$ 14,596$ 13,091$ Current Portion of Long-term Debt, net - - - - - Net Cash (Cash and equivalents less total Debt) 21,605 16,886 20,201 14,596 13,091 Net Cash per share, diluted 1.72$ 1.30$ 1.56$ 1.14$ 1.01$ Total Assets 66,123 60,299 71,958 61,460 61,579 Total Stockholders' Equity 34,649 25,991 34,641 27,697 33,157 Book Value per share, diluted 2.76$ 2.00$ 2.67$ 2.16$ 2.56$ (Unaudited, in thousands, except per share data) 2023 2024 2025 2024 2025 Net Cash Provided by (Used in) Operating Activities 6,828$ 12,197$ 11,878$ (583)$ (2,305)$ Capital Expenditures 3,067 2,245 1,371 349 439 Free Cash Flow 3,761 9,952 10,507 (932) (2,744) Free Cash Flow per share, diluted 0.30$ 0.77$ 0.81$ (0.07)$ (0.21)$ Free Cash Flow Conversion 148% 339% 107% -51% -127% As of September 30, Three Months ended Sept. 30, As of June 30, Fiscal Year ended June 30,
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I N V E S T O R P R E S E N T A T I O N 48 Non-GAAP Reconciliations LIFEVANTAGE *A reconciliation of non-GAAP items, including Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per Diluted Share, is included in the appendix of this presentation. Adjusted Net Income (Unaudited, in thousands, except per share data) 2023 2024 2025 2024 2025 GAAP net income 2,540$ 2,937$ 9,805$ 1,826$ 2,155$ Adjustments: Executive team recruiting and transition expenses — 198 562 106 — Executive and non-recurring severence expenses 607 220 244 38 — Class-action lawsuit expenses, net of recoveries (139) — — — — Nonrecurring proxy contest related expenses, net of credits — 5,043 — — — Accelerated depreciation related to change in lease term 116 — — — — Lease abandonment 227 — — — — Other nonrecurring expenses — 308 248 — 217 Tax impact of adjustments (296) (1,092) (210) (37) (54) Total adjustments, net of tax 515 4,677 844 107 163 Non-GAAP Net income: 3,055 7,614 10,649 1,933 2,318 Diluted earnings per share, as reported 0.20$ 0.23$ 0.75$ 0.14$ 0.17$ Total adjustments, net of tax 0.04 0.36 0.06 0.01 0.01 Diluted earnings per share, as adjusted* 0.24 0.59 0.82 0.15 0.18 Three Months ended September 30, Fiscal Year ended June 30,
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I N V E S T O R P R E S E N T A T I O N 49 Non-GAAP Reconciliations LIFEVANTAGE EBITDA and Adjusted EBITDA (Unaudited, in thousands) 2023 2024 2025 2024 2025 GAAP net income 2,540$ 2,937$ 9,805$ 1,826$ 2,155$ Interest (income) expense (198) (430) (431) (59) (87) Provision for income taxes 1,459 1,413 2,438 752 86 Depreciation and amortization 3,579 3,581 3,156 797 610 Non-GAAP EBITDA: 7,380 7,501 14,968 3,316 2,764 Adjustments: Stock compensation expense 3,188 3,280 5,702 917 826 Other expense, net 458 412 387 51 114 Other adjustments 695 5,769 1,054 144 217 Total adjustments 4,341 9,461 7,143 1,112 1,157 Non-GAAP Adjusted EBITDA: 11,721 16,962 22,111 4,428 3,921 Three Months ended September 30, Fiscal Year ended June 30,
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