Herbalife Appoints John DeSimone As Chief Financial Officer

Herbalife Ltd. (NYSE: HLF), a premier health and wellness company, community and platform, today announced the appointment of John DeSimone as Chief Financial Officer, succeeding Alex Amezquita who will remain with the Company.

Mr. DeSimone has been an executive at Herbalife for the past 17 years, including more than 8 years as CFO from 2010 – 2018 and 4 years as President and Co-President from 2018 – 2022. Most recently, he served as a Special Advisor to the CEO.

“John is a talented and proven finance leader, who has immense experience with Herbalife and a successful track record,”

said Michael Johnson, Chairman and Chief Executive Officer.

“We believe with Stephan Gratziani as President driving top-line growth and John focusing on our commitment to expand margins, reduce debt and improve overall financial performance, we are well-positioned to return to growth and maximize shareholder value in both the near and long term.”

In addition, management is beginning to observe more stability in the business. Based on this and other positive trends observed, Herbalife is initiating guidance for the first quarter and full-year 2024.

First Quarter and Full-Year 2024 Guidance:

Included in the full-year 2024 guidance is approximately $40 million of savings from a new organizational redesign project the Company began reviewing in January 2024. This project, which is separate from Herbalife’s Transformation Program, will bring leadership closer to the markets, streamline the organization and accelerate productivity.

The Company expects to deliver at least $80 million of run rate savings from this project beginning in 2025. The Company also expects to recognize at least $60 million of pre-tax expenses in 2024 related to this restructuring, which will be excluded from the adjusted results.

“I’m honored to return to my role as CFO,”

said John DeSimone, Chief Financial Officer.

“I’m excited to leverage my experience and knowledge of Herbalife to improve our financial and operating performance, reduce our gross leverage ratio to 3.0x by the end of 2025, as well as deliver long-term value to our shareholders.”

The Board of Directors and management team extends its appreciation to Mr. Amezquita for his contributions to Herbalife.

About Herbalife Ltd.

Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people’s lives with great nutrition products and a business opportunity for its independent distributors since 1980.

The Company offers science-backed products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life. For more information, visit https://ir.herbalife.com.

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