On April 6, 2023, the Board of Directors of F45 Trading Holdings Inc. elected James Feltman to the Board, effective April 6, 2023. Mr. Feltman will fill the vacancy on the Board created upon the resignation of Chris Payne, who resigned on November 15, 2022. Mr. Feltman will serve as a Class II Director until the Company's 2023 Annual Meeting of Stockholders and until his successor is duly elected and qualified.

Mr. Feltman will receive compensation for service as a non-employee director of the Company consistent with the compensation generally provided to other non-employee directors, as determined by the Board from time to time. Mr. Feltman was nominated to the Board by GIL SPE, LLC (“GIL”), an entity controlled by Adam Gilchrist, a member of the Board, pursuant to certain nomination rights provided to GIL under the Third Amended and Restated Stockholders' Agreement of the Company, dated July 14, 2021 (the “Stockholders' Agreement”). GIL has the right to designate two representatives on the Board.

Such right is described further in the Stockholders' Agreement, filed as Exhibit 10.8 to the Company's Registration Statement on Form S-1/A (File No. 333-257193) filed with the Securities and Exchange Commission on July 7, 2021. Mr. Feltman has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. The Board has determined Mr. Feltman is independent under SEC standards and the standards of the New York Stock Exchange.