USANA Health Sciences : Investor Overview Q1 2023

INVESTOR OVERVIEW

NYSE: USNA

May 2023

SAFE HARBOR

Forward-Looking Statements.

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Our actual results could differ materially from those projected in these forward-looking statements, which involve a number of risks and uncertainties, including: uncertainty related to the COVID-19 pandemic ("COVID-19") to our business, operations and financial results; the potential for a resurgence of COVID-19 spread in any of our markets in the future; the impact of COVID-19 on the domestic and world economies, including any negative impact on discretionary spending, consumer demand, and consumer behavior in general; regulatory risk in China in connection with the health products and direct selling business models; regulatory risk in the United States in connection with the direct selling business model; potential negative effects of deteriorating foreign and/or trade relations between the United States and China; compliance with data privacy and security laws and regulations in our markets around the world; potential negative effects from geopolitical relations and conflicts, including the Russia-Ukraine conflict; potential negative effects of material breaches of our information technology systems to the extent we experience a material breach; material failures of our information technology systems; global economic conditions generally, including increasing inflationary pressure around the world and any negative impact on our operating costs, consumer demand and consumer behavior in general; reliance upon our network of independent Associates; risk associated with governmental regulation of our products, manufacturing and direct selling business model; adverse publicity risks globally; risks associated with our international expansion and operations; and uncertainty relating to the fluctuation in U.S. and other international currencies. The contents of this release should be considered in conjunction with the risk factors, warnings, and cautionary statements that are contained in our most recent filings with the Securities and Exchange Commission. The forward-looking statements in this press release set forth our beliefs as of the date hereof. We do not undertake any obligation to update any forward-looking statement after the date hereof or to conform such statements to actual results or changes in the Company's expectations, except as required by law.

Non-GAAP Financial Measures.

The Company prepares its financial statements using U.S. generally accepted accounting principles ("GAAP"). Constant currency net sales, earnings, EPS and other currency-related financial information (collectively, "Financial Results") are non-GAAP financial measures that remove the impact of fluctuations in foreign-currency exchange rates ("FX") and help facilitate period-to-period comparisons of the Company's Financial Results that we believe provide investors an additional perspective on trends and underlying business results. Constant currency Financial Results are calculated by translating the current period's Financial Results at the same average exchange rates in effect during the applicable prior year period and then comparing this amount to the prior-year period's Financial Results. Free cash flow ("FCF") is a non-GAAP financial measure that we believe provides investors an additional perspective on cash flow from operating activities in excess of amounts required for reinvestment. We believe it provides a measure of our ability to fund various discretionary business initiatives, including acquisitions and share repurchase. Free cash flow is calculated by subtracting net capital expenditures from net cash provided by operating activities. Return on invested capital ("ROIC") is a non-GAAP financial measure that we believe provides a measure of how effectively we deploy our capital base. We calculate ROIC as net operating profit after-tax for the trailing twelve months divided by average total debt and shareholders' equity for the trailing twelve months.

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USANA At-A-Glance

USANA develops and manufactures high-quality, science based nutritional and personal care products with a primary focus on promoting long-term health and wellness.

Headquarters:

Salt Lake City, UT

Founded:

1992

Employees:

1,978

Annual Revenue: $999M¹

Market Cap:
$1.2B²	¹ FY 2022
	² As of 5/25/23

Product Mix¹

Nutritionals

87%

All Other

1% Foods

7%

Skincare

5%

Geographic Mix¹

North Asia

11%

Americas &

Europe

20%

Greater

China

50%

Southeast

Asia Pacific

19%

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OUR OPERATIONAL PROCESS

5-Pronged Approach to Profitable Growth

Active

Customer

Growth

Expansion Into	Direct Selling
New Markets
Model

Long-Term

Profitable

Growth

Product	In-House
Quality &
Manufacturing
Innovation

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