Xponential Fitness : Investor Presentation as of Q3 2021 - January 2022 Update

I N V E S T O R P R E S E N T A T I O N

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LEGAL DISCLAIMER

The information contained in this presentation is provided solely for the purpose of acquainting the readers with Xponential Fitness, Inc. (the "Company," "Xponential" or "we") and its business operations, strategies and financial performance. This presentation and any accompanying oral statements is not an offer to sell nor is it a solicitation of any offer to buy any securities and conveys no right, title or interest in the Company or the products of its business activities.

The information contained herein is confidential and strictly proprietary. By accepting this document, the recipient agrees not to reproduce its contents nor disclose or distribute same to any person or entity without the expressed prior consent of the Company. This presentation does not purport to be all-inclusive or to contain all of the information you or any prospective investor may desire.

Cautionary Note Regarding Forward-Looking Statements

This presentation contains forward-looking statements that involve substantial risks and uncertainties. Any statements contained in this presentation that are not statements of historical facts may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements relating to key strategies for growth; the projected number of studio opened; expansion of market share and international business operations; the rollout of XPASS; projected financial and performance information such as studio opening, system-wide sales, annual revenue, Adjusted EBITDA; the expected trend in fitness industry; and the anticipated advantages of the franchise model. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contained in the forward- looking statements. These factors include, but are not limited to, the impact of COVID-19 pandemic on our business and franchisees; our relationships with master franchisees and franchisees; difficulties and challenges in opening studios by franchisees; the ability of franchisees to generate sufficient revenues; risks relating to expansion into international market; loss or reputation and brand awareness; material weakness in our internal control over financial reporting; and other risks as described in our SEC filings, including our Quarterly Report on Form 10-Q for the three months ended September 30, 2021 filed with the SEC. Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. You should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Xponential undertakes no duty to update such information, except as required under applicable law.

Market Data and Non-GAAP Financial Measures

This presentation includes statistical and other industry and market data that we obtained from industry publications and research, surveys, studies and other similar third-party sources, as well as our estimates based on such data and on our internal sources. Such data and estimates involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such data and estimates. We believe that the information from these third-party sources is reliable; however, we have not independently verified them, we make no representation as to their accuracy or completeness and we do not undertake to update the data from such sources after the date of this presentation. Further, our business and the industry in which we operate is subject to a high degree of risk and uncertainty, which could cause results to differ materially from those expressed in the estimates made by the third-party sources and by us.

We use certain non-GAAP financial information in this presentation, such as EBITDA, Adjusted EBITDA and Adjusted Net Loss, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively with comparable GAAP financial measures, is helpful to investors because it provides consistency and comparability with past financial performance, and provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. However, non- GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measure as tools for comparison. We seek to compensate such limitations by providing a detailed reconciliation for the non-GAAP financial measures to the most directly comparable financial measures stated in accordance with GAAP in this presentation. You are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.

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Xponential is the Dominant Player in the $20 Billion+ Boutique Fitness Industry

Our Mission is to Make Boutique Fitness

Accessible to Everyone

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What is Boutique Fitness?

• Small studio space (~1,500-2,000sqft)
• Structured, class-based programming in a specific fitness modality
• Social, supportive community of coaches and consumers
• Affluent, engaged, loyal consumer
• Fastest growing segment of the $97Bn global health & fitness club industry(1)
• Xponential grew and gained share through COVID, while industry contracted (27% of U.S. boutique studios closed permanently)(1)

U.S. Boutique Fitness Industry Size ($Bn)(2)

					$24.9	$26.2
				$23.6
			$22.1
$21.1
		$16.2
	$8.8
2019	2020	2021E	2022P	2023P	2024P	2025P

1. International Health, Racquet & Sports Association ("IHRSA") Research, "IHRSA Global Report," 2005 and 2020, and 2021 "IHRSA Media Report".
2. Third party study conducted by Frost & Sullivan.

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Experienced Management Team With a Successful Track Record in Fitness Franchising

Anthony Geisler		John Meloun	Sarah Luna	Ryan Junk
Founder & CEO			CFO	President	COO
6 Years at Xponential		3 Years at Xponential	6 Years at Xponential	4 Years at Xponential
19 Years of Industry Experience		22 Years of Industry Experience	13 Years of Industry Experience	26 Years of Industry Experience

Franchised

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