On July 21, 2023, the Board of Directors of F45 Training Holdings Inc. expanded the size of the Board from 11 directors to 13 directors. In light of the vacancies created by the expansion, the Board elected Tom Dowd, the current Chief Executive Officer of the Company, and Richard Monje to the Board, effective immediately. Mr. Dowd will serve as a Class III director until the Company?s 2024 Annual Meeting of Stockholders and until his successor is duly elected and qualified, and Mr. Monje will serve as a Class I director until the Company?s 2025 Annual Meeting of Stockholders and until his successor is duly elected and qualified.

Mr. Dowd has served as the Company?s Chief Executive Officer since April 2023. Mr. Monje is a Managing Director and the Head of Legal Affairs and Strategy of Kennedy Lewis Investment Management LLC. In light of Mr. Dowd?s position as Chief Executive Officer of the Company, and KLIM?s relationship with the Company and Mr. Monje?s role with KLIM, the Board has determined that Mr. Dowd and Mr. Monje are not independent under the standards of the New York Stock Exchange.