Morgan Stanley Global Consumer & Retail ConferenceForward looking statement THIS CONFERENCE CALL AND PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS WHICH INCLUDE INFORMATION CONCERNING OUR FUTURE RESULTS, TRENDS, AND OTHER INFORMATION THAT IS NOT HISTORICAL INFORMATION. ALL FORWARD-LOOKING STATEMENTS INCLUDED ON THIS CALL AND IN THIS PRESENTATION ARE BASED ON INFORMATION AVAILABLE TO US ON THE DATE OF THIS CALL, CURRENT EXPECTATIONS, AND VARIOUS ASSUMPTIONS. WE BELIEVE THERE IS A REASONABLE BASIS FOR OUR EXPECTATIONS AND ASSUMPTIONS, BUT THEY ARE INHERENTLY UNCERTAIN, AND MAY NOT PROVE CORRECT. WE UNDERTAKE NO OBLIGATION TO PUBLICLY UPDATE, OR REVISE, ANY FORWARD-LOOKING STATEMENT, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS, OR OTHERWISE. ALL SUBSEQUENT WRITTEN AND ORAL FORWARD-LOOKING STATEMENTS, ATTRIBUTABLE TO US, OR PERSONS ACTING ON OUR BEHALF, ARE EXPRESSLY QUALIFIED, IN THEIR ENTIRETY, BY THE CAUTIONARY STATEMENTS CONTAINED THROUGHOUT THIS CALL. FOR A LIST OF IMPORTANT FACTORS THAT COULD CAUSE OUR ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FORWARD-LOOKING STATEMENTS ON THIS CALL AND IN THIS PRESENTATION, PLEASE REFER TO OUR PUBLIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION AND OUR EARNINGS RELEASE THIS MORNING. MANAGEMENT HAS INCLUDED NON-GAAP FINANCIAL MEASURES IN THIS PRESS RELEASE BECAUSE IT BELIEVES THEY REPRESENT AN EFFECTIVE ‘SUPPLEMENTAL MEANS BY WHICH TO MEASURE THE COMPANY'S OPERATING PERFORMANCE. MANAGEMENT BELIEVES THAT NET INCOME AND EARNINGS PER SHARE, EXCLUDING ASSET IMPAIRMENT CHARGES AS REFLECTED IN THIS RELEASE, AND FREE CASH FLOW ARE USEFUL TO INVESTORS AS THEY ENABLE THE COMPANY AND ITS INVESTORS TO EVALUATE AND COMPARE THE COMPANY’S RESULTS FROM OPERATIONS IN A MORE MEANINGFUL AND CONSISTENT MANNER BY EXCLUDING SPECIFIC ITEMS WHICH ARE NOT REFLECTIVE OF ONGOING OPERATING RESULTS. HOWEVER, THESE MEASURES ARE NOT MEASUREMENTS OF THE COMPANY'S PERFORMANCE UNDER GAAP AND SHOULD NOT BE CONSIDERED AS ALTERNATIVES TO EARNINGS PER SHARE, NET INCOME OR ANY OTHER PERFORMANCE MEASURES DERIVED IN ACCORDANCE WITH GAAP, OR AS AN ALTERNATIVE TO GAAP CASH FLOW FROM OPERATING ACTIVITIES, OR AS A MEASURE OF THE COMPANY'S PROFITABILITY OR LIQUIDITY. FOR MORE INFORMATION, SEE THE ATTACHED RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES. r GNC ET WAS MA STETToday’s Agenda |. Investment Rationale Il. The Industry Ill. GNC’s Strategic Evolution IV. GNC’s Commitment to Quality V. Financial Highlights VI. Company-Owned vs. Franchise Store Strategy VIL. Capital Discipline B G As aad G EEE1. Compelling Investment Rationale ¥ Recognized leader in large and growing health, wellness and performance industry Y Highly-trusted and recognized brand Y Clear strategy to drive profitable growth > Drive improved connection with a broader range of customers > Leverage customer research to drive enhanced decision-making Y Strong cash flow and disciplined capital allocation strategy Y Balanced approach to reinvesting in business and returning cash to shareholders through dividends and share repurchases Cc WAS \WWASTELSIl. The Industry U.S. Dietary Supplement Industry Sales 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 The industry has grown meaningfully over time... Source: NBJ;$ in Bil Pp 7 oZIl. The Industry U.S. Dietary Supplement Industry Sales ..and is expected to continue Rea ELE 7 G aIl. The Industry Aiea 8 8 FE 8 Dts eed mm mrreaattt HTH Each major category has, and is expected to, contribute to growth Rea ELE 8 G N oZ ET WAS MA STETIll. GNC’s Strategic Evolution Y Cultural Evolution Y Focus on profitable growth Y Decisions informed by qualitative and quantitative customer research Y Evolutionary, not revolutionary brand positioning Y Focused on performance and wellness customers v Target one-to-one customer engagement ¥ Guided by brand pillars Berl h Le ee a CE eB a ok eee) 40 eRe titel customers to their best Cc WAS \WWASTELS 10Ill. GNC’s Strategic Evolution er Bards toda) Health, wellness & performance industry ~$37 BN Ay SelacMal heats (el ing acute) at 1) New brand positioning is grounded in data and evolutionary, not revolutionary Seek to both expand share of wallet and broaden reach ReaD] PP G 7lll. GNC’s Strategic Evolution Y Decreased reliance on excessive promotions Y Increase in sales from Wellness, Natural Living, Grab-n-Go customer v Increase in mix of female customers Y Positive ROI on natural and plant-based proteins, functional foods Y Positive ROI on expanded assortment Y Significant reduction in store service complaints 5) GNClll. GNC’s Strategic Evolution QO) Continued refinement of marketing and promotions QO Enhance Gold Card program with loyalty component UO) Develop improved pricing and promotional strategy > Clearly define role and intent by category > Improve customer’s perception of quality QO) Improved operational consistency i] r rIV. GNC’ Commitment to Quality Y 80 year history of health, wellness and performance Y Owna 300,000 square foot state of the art manufacturing facility Y Fully FDA and TGA cGMP compliant, qualified to manufacture supplements for sale in over 50 countries Y Dedicated laboratories for raw material and finished product inspection and testing Y Proprietary manufactured product subjected to 150+ quality checks Y Employ over 150 scientists, nutritionists, formulators, chemists, engineers and quality control experts 15 GNC SIVERW EE iBIV. GNC’ Commitment to Quality Brand Awareness THE GNC .. || DIFFERENCE TRUSTED QUALITY FOR 80 YEARS Walmart GNC Walgreens cvs _ aaa fl EEG esses Only high-quality ingredients are Anan sourced anet rigerotsly tested before Ee Dc ey ay Ce | a Target going into GNC brand products Rite Aid 150+ GNC quality checks including raw materials, purity, potency and Vitamin Shoppe expiration date Costco GNC Manufacturing operates above the industry's highest US and international ndards Sam's Whole Foods If you are not 100% satisfied with your GNC product, return unused portion 20% 40% 60% 80% 100% within 30 days for a complete refund’ Vitamin World Pe eet anette ae att Deiat et raat tedIV. GNC’s Commitment to Quality Formed Coalition ¥ More than 40 industry-leading companies participating in the coalition > Includes retailers (including ecommerce), raw material suppliers, manufacturers, multi-level marketing companies, practitioners, and pharmaceutical companies Y Goals are to: > Establish industry Good Manufacturing Practices for the raw material supply chain, including traceability standards and testing requirements > Establish minimum standards across the industry for annual facility inspections and certifications, and the issuance of raw material and finished goods product quality seals > Evaluate and promote an industry sponsored product database and product numbering system > Change the narrative about the industry Cc wy [S WWASTEAN Eur elite macelel lad Notification prt Lt’ Tl lila ered Review and recommend on advisability of industry database . aad ad a Good Media Strategy Tol fist Manufacturi Certification ial id uring de Coil) I nae Establish Standards Establish Raw Customer : z Threshold Material cGMP’s Confidence Answer Govt. Facilities Traceability Regulators Certification Standards Raw Material & Testi Answer Media Finished Products esting Quality Seals Requirements Mechanics of industry notification and numbering systemSin thousands except pershare amounts; unaudited Q3 2015 Q3 2014 Revenue $672,244 $656,326 " Increased 2.4% Gross profit $250,644 $247,748 * Product marginrate improvementin % of Revenue 37.3% 37.7% domestic retail business Offset by: Q higher third-party wholesale product sales to international franchisees QO de-leverage Total SG&A $141,155 $147,382 = Advertising decreased $1.2 million, to 2.8% Offset by increase in compensation and % of Revenue 21.0% 22.5% benefits, and de-leverage Long-lived asset $28,333 : = Discount Supplements; $0.21 reduction in impairments , EPS including related tax benefit Adjusted EPS $0.76 $0.75 * Increased 1.3% Freecashflow/ share $0.95 $0.74 * Increased 28.4% Free cash flow per share increased 28% in the quarter, and 42% to $2.83 on a YTD eT emLeCRoM unl eon RUC ae] ice aA him Tice et sl-lae eetVI. Company-Owned vs. Franchise Store Strategy Strategies to increase the portion of domestic stores that are franchise locations: 1) Beginning in Q4 2015, expect majority of new stores to be franchise locations 2) Execute re-franchising strategy in select markets > Negotiations are underway > Letters of intent have been obtained for 33 locations* * asdiscussed on Q3 2015 earnings call yr. < i) Maa nl a rVII. Capital Discipline Y Returns-based approach to business decisions, spanning > Capital expenditures > Marketing > Promotions Y Returning capital to shareholders > Announced $200 mil share buyback on November 3, 2015 > Current Dividend Yield >2% a Liv aad G EEEVII. Capital Discipline Total Shareholder Return since IPO 145% 114% 75% GNC S&P 500 S&P RETAIL mGNC mS&P500 = S&P Retai Source: Bloomberg Capital IQ, IBES. Market dataasof Nov6, 2015 ya}Compelling Investment Rationale ¥ Recognized leader in large and growing health, wellness and performance industry Y Highly-trusted and recognized brand Y Clear strategy to drive profitable growth > Drive improved connection with a broader range of customers > Leverage customer research to drive enhanced decision-making Y Strong cash flow and disciplined capital allocation strategy Y Balanced approach to reinvesting in business and returning cash to shareholders through dividends and share repurchases Cc WAS \WWASTELS yA)” CELEBRATING 86 YEARS QUALITY LIFE ORALITY PR YEARS SASH ELBE