WORLD FITNESS COMPLETES ACQUISITION OF SUNSHINE FITNESS AND REFINANCING TRANSACTION

HAMPTON, N.H., Feb. 10, 2022/ PRNewswire/– Planet Fitness, Inc. (NYSE: PLNT) (together with its subsidiaries, the “Company”) today revealed that it has actually finished its formerly revealed acquisition of Sunshine Fitness Growth Holdings, LLC (” Sunshine Fitness”) and re-financing deal.

Sunshine Fitness was the very first franchisee in the Planet Fitness system and has actually been backed by TSG Consumer Partners given that2017 Sunlight Fitness runs 114 places in Alabama, Florida, Georgia, North Carolina, and South Carolina that are now integrated into the existing Planet Fitness company-owned portfolio, which is primarily situated in the Northeast. Shane McGuiness, co-founder and CEO of Sunshine Fitness, who has actually been an owner and operator in the Planet Fitness system for almost 20 years, will now function as President, Corporate Clubs, and will manage operations of the combined business shop portfolio.

” While numerous brand names are withdrawing, our company believe that there’s remarkable long-lasting untapped chance for our brand name to assist individuals start their wellness journey, which is why we’re making tactical financial investments such as the acquisition of Sunshine Fitness, among our best-performing franchisees in the system,” stated Chris Rondeau, Chief Executive Officer of Planet Fitness. “We now own more than 200 business shops, or around 10 percent of our overall system, which is our target ownership level that enables us to keep our asset-light company design– a fundamental part of our investor worth proposal.”

The brand-new series of securitized notes (the “2022 Notes”) consist of $900 million Class A-2 Senior Secured Notes (the “Senior Notes”), which include 2 tranches: the Class A-2-I Senior Secured Notes with an expected payment date of 5 years, with a primary quantity of $425 million and a set rates of interest of 3.251%per year, payable quarterly; and the Class A-2-II Senior Secured Notes with an expected payment date of 10 years, with a primary quantity of $475 million and a set rate of interest of 4.008%per year, payable quarterly. The 2022 Notes likewise consist of a revolving funding center that permits the issuance of approximately $75 million in variable financing notes, which was attracted complete in connection with the closing.

The earnings from the positioning of the Senior Notes will be utilized as follows:

• to pay back completely the around $5563 million in aggregate principal quantity of the Series 2018 -1 Class A-2-I Notes (together with any accumulated and overdue interest on such Series 2018 -1 Class A-2-I Notes),

• to pay the deal expenses and money the reserve accounts related to the securitized funding center, and

• to money a part of the acquisition of Sunshine Fitness in a quantity as much as $325 million

The Company will go over the monetary effects of this deal throughout its 4th quarter 2021 profits get in touch with February 24, 2022 This news release does not make up a deal to offer or the solicitation of a deal to purchase the 2022 Notes or any other security. The 2022 Notes to be provided have actually not been, and will not be, signed up under the Securities Act of 1933 and might not be provided or offered in the United States missing registration or a relevant exemption from the registration requirements of the Securities Act of 1933.

About Planet Fitness

Founded in 1992 in Dover, NH, Planet Fitness is among the biggest and fastest-growing franchisors and operators of gym in the United States by variety of members and places. Since December 31, 2021, Planet Fitness had 15.2 million members and 2,254 shops in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia The Company’s objective is to improve individuals’s lives by offering a top quality physical fitness experience in an inviting, non-intimidating environment, which we call the Judgement Free Zone ®. More than 90%of Planet Fitness shops are owned and run by independent organization males and females.

Forward-Looking Statements

This news release consists of “positive declarations” within the significance of the federal securities laws, which include threats and unpredictabilities. Positive declarations consist of the Company’s declarations with regard to the anticipated usage of earnings from the sale of the Class A-2 Notes and to the acquisition of Sunshine Fitness and prospective advantages therefrom, in addition to other declarations, quotes and forecasts that do not relate entirely to historic realities. Positive declarations can be determined by words such as “think,” “anticipate,” “objective,” “strategy,” “will,” “potential customers,” “future,” “method” and comparable recommendations to future durations, although not all positive declarations consist of these determining words. Positive declarations are not guarantees of future efficiency. Rather, they are based just on the Company’s existing beliefs, expectations and presumptions concerning its capability to effectively finish the refinancing deals. Due to the fact that positive declarations connect to the future, they undergo intrinsic unpredictabilities, dangers and modifications in scenarios that are hard to anticipate and much of which are beyond the Company’s control. Real outcomes and monetary condition might vary materially from those shown in the positive declarations. Essential elements that might trigger the Company’s real outcomes to vary materially consist of threats and unpredictabilities connected with the period and effect of COVID-19, which has actually resulted and might continue to lead to shop closures and a decline in the Company’s net subscription base and might generate or increase several of the other threats and unpredictabilities explained herein, the Company’s capability to practiced the refinancing deals on terms appropriate to the Company, on the timeline expected or at all, capital markets conditions, the Company’s considerable increased insolvency as an outcome of the deals and its capability to sustain extra insolvency or re-finance that insolvency in the future, the Company’s future monetary efficiency and the Company’s capability to pay primary and interest on its insolvency, competitors in the physical fitness market, the Company’s and franchisees’ capability to draw in and maintain members, the Company’s and franchisees’ capability to determine and protect ideal websites for brand-new franchise shops, modifications in customer need, modifications in devices expenses, the Company’s capability to broaden into brand-new markets locally and worldwide, running expenses for the Company and franchisees usually, schedule and expense of capital for franchisees, acquisition activity, advancements and modifications in laws and policies, the Company’s business structure and tax receivable arrangements, failures, disturbances or security breaches of the Company’s info systems or innovation, basic financial conditions and the other aspects explained in the Company’s yearly report on Form 10- K for the year ended December 31, 2020, and the Company’s other filings with the Securities and Exchange Commission. Due to the considerable dangers and unpredictabilities fundamental in positive declarations, financiers must not position excessive dependence on positive declarations, which show the Company’s views just since the date of this news release. Other than as needed by law, neither the Company nor any of its affiliates or agents carry out any commitment to offer extra details or to fix or upgrade any info stated in this release, whether as an outcome of brand-new info, future advancements or otherwise. All positive declarations attributable to us are specifically certified by these cautionary declarations.

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SOURCE Planet Fitness, Inc.