Slides
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Q3 2025 Earnings Supplement November 4, 2025
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Forward-Looking Statements Safe Harbor This presentation includes “forward-looking statements” within the meaning of federal securities regulations. Forward-looking statements in this presentation include, but are not limited to, the plans, strategies and prospects, both business and financial, of Life Time Group Holdings, Inc. (“we,” “us” or the “Company”), including the expected number, timing and locations of new center openings (including the amount and size thereof), opportunities for growth, membership mix, engagement and retention, member count, consumer demand, and industry and economic trends. These statements are based on the beliefs and assumptions of the Company’s management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning the Company’s possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. Factors that could cause actual results to differ materially from those forward-looking statements included in this presentation include, but are not limited to, risks relating to our business operations and competitive and economic environment, risks relating to our brand, risks relating to the growth of our business, risks relating to our technological operations, risks relating to our capital structure and lease obligations, risks relating to our human capital, risks relating to legal compliance and risk management and risks relating to ownership of our common stock and the other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on February 27, 2025 (File No. 001-40887), as such factors may be updated from time to time in the Company’s other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this presentation. Any forward- looking statement that the Company makes in this presentation speaks only as of the date of such statement. Except as required by law, the Company does not have any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise. 2
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Executive Summary Periodically, we publish supplemental materials to address key questions that have been prominent in recent investor discussions. This update provides additional information on the following areas: 1. How many new clubs will open in 2026 and beyond? • We expect to open 12 - 14 clubs per year in 2026 and beyond, up from 10 - 12. • The class of new clubs for 2026 has 13 clubs under construction to date. 2. Why has membership growth slowed while revenue continues to grow by double - digits? • Membership mix is strengthening with more couples and family memberships, as center memberships rose 1.7% and members grew 3.2% (1) year - over - year for the quarter. • We are limiting qualified memberships (2) in certain clubs, which have significantly lower average dues. • Member engagement continues to grow, with visits per membership up 5.9% year - over - year for the quarter and total visits up 7% year - over - year for the quarter. • Our membership growth trends are part of our 10 - 12% revenue growth algorithm, which remains unchanged. 3 (1) Excludes “Junior” members. (2) Refer to our 2024 Form 10 - K filed with the SEC on 2/27/2025 for further description of these memberships.
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Future Club Growth
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New Club Pipeline We expect to open 12 - 14 clubs in 2026 and 12 - 14+ clubs in 2027 with the majority of these locations planned as large format, ground up construction clubs. For the class of 2026, over 1.1 million square feet is currently under construction. Average Club (Square Feet) (1) C lass Year 2024 2025 2026 est. Centers Opened 8 10 12 - 14 ~85,000 ~66,000 ~94,000 Total Square Feet 680,000 660,000 1 .2 M+ 5(1) Indoor square footage. 5
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~98,000 EAGLE Eagle, Idaho Boise MSA 2026 New Club Pipeline (1) 6 (1) Clubs are shown in order of size from largest to smallest within their respective opening period of 1H 2026 and 2H 2026. ~114,000 NORTH SHORE Northbrook, Illinois Chicago MSA ~102,000 OCOTILLO Gilbert, Arizona Phoenix MSA ALSTON TOWN CENTER Cary, North Carolina Raleigh MSA
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2H 2026 2026 New Club Pipeline (1) 7 ~91,000 (1) Clubs are shown in order of size from largest to smallest within their respective opening period of 1H 2026 and 2H 2026. ~85,000 ~128,000 CASTLE PINES Castle Pines, Colorado Denver MSA WINTER PARK Winter Park, Florida Orlando MSA PARADISE VALLEY Paradise Valley, Arizona Phoenix MSA DURANGO SW Las Vegas, Nevada Las Vegas MSA ~102,000
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2026 New Club Pipeline (1) BROOKLYN TOWER Brooklyn, New York New York City MSA SQ. FT. OPENING CONSTRUCTION BEGINS 2025 ~78,000 2H 2026 WESTFIELD Westfield, Indiana Indianapolis MSA SQ. FT. OPENING ~102,000 2H 2026 UNDER CONSTRUCTION BRYANT PARK New York, New York New York City MSA SQ. FT. OPENING ~52,000 2H 2026 UNDER CONSTRUCTION LAKEWOOD RANCH Sarasota, Florida Sarasota MSA SQ. FT. OPENING ~86,000 2H 2026 UNDER CONSTRUCTION NAPERVILLE Naperville, Illinois Chicago MSA SQ. FT. OPENING ~102,000 2H 2026 UNDER CONSTRUCTION 8 (1) Clubs are shown in order of size from largest to smallest within their respective opening period of 1H 2026 and 2H 2026. BREA Brea, California Los Angeles MSA SQ. FT. OPENING ~85,000 2H 2026 UNDER CONSTRUCTION
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Membership Growth
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(1) Excludes “Junior” members. (2) Refer to our 2024 Form 10 - K filed with the SEC on 2/27/2025 for further description of these memberships. (3) Singles center memberships include qualified memberships. 53.9% 52.9% 46.1% 47.1% • We have seen an increase in memberships with two or more members (e.g., couples or families) particularly in our newer clubs, resulting in 3.2% member growth (1) year - over - year for the quarter. • These memberships have historically been more engaged with higher retention and nearly 2x higher average monthly dues. • We are limiting qualified memberships (2) in certain clubs, which have significantly lower average dues. • Newer clubs typically reach desired utilization and revenue with fewer memberships. 63.4% 61.9% 60.8% 36.6% 38.1% 39.2% Q3 2019 Q3 2024 Q3 2025 Two - Plus Singles (3) Q3 2024 Q3 2025 Total Center Membership Mix 2023 - 2025 Center Openings Membership Mix Two - Plus Singles (3) 10 +110 bps +100 bps Membership Mix +150 bps
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• Average visits per membership have reached record highs since 2019. • Visits per membership are up 5.9% and total center visits are up 7.0% year - over - year for the quarter. • Average total revenue and monthly visits per club continue to grow with fewer memberships per club. 8.9 11.8 12.5 Q3 2019 Q3 2024 Q3 2025 Visits per Membership per Month $3.4M $3.8M $4.1M 50000 52000 54000 56000 58000 60000 62000 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 $4.50 Average Total Revenue Average Monthly Visits 54.8K 55.2K 56.5K Average Revenue and Monthly Visits per Club (1) 6,150 Center Memberships per Club: 4,670 4,544 11 Q3 2019 Q3 2024 Q3 2025 (1) Includes ramping clubs which have not yet reached maturity. Membership Engagement
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~3% 1 - 2% 2 - 3% ~4% Comparable Center Revenue: 6 - 8% Ramping Centers Mature Centers In - Center Business Mature Centers Dues New Centers • Our revenue growth strategy remains the same: • Open new clubs • Increase member engagement • Optimize memberships and increase revenue per center membership 12 Revenue Growth Algorithm Revenue Growth Algorithm 10 - 12% • Largely driven by new memberships • Newer clubs have higher average dues and a higher mix of two - plus members per membership requiring fewer memberships to reach desired utilization • New and ramping clubs have virtually no qualified memberships • In - Center Businesses : Driven by continued programming expansion / enhancement and member engagement New & Ramping Centers (6% - 7%) Mature Centers (4% - 5%) • Membership Dues : Driven by legacy price increases, churn of lower average dues memberships, and enhanced membership mix with flat total mature membership growth Target Revenue Growth:
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