Nautilus Announces Retirement of Chairman of the Board, Mr. Carl Johnson, III

The longtime chairman of the board will retire after leading efforts to revitalize the board and support the company’s digital transformation

VANCOUVER, Washington – June 16, 2022 – Nautilus, Inc. (NYSE: NLS), a leader in personalized and connected home fitness, today announced that Chairman Mr. Carl Johnson, III will retire from its Board of Directors effective August 2.

Johnson joined the Nautilus Board of Directors in 2010 and has served as Chairman of the Board of Nautilus, Inc. since 2011. He also served as the company’s interim Chairman and CEO from February 2019 to July 2019. A leader accomplished in the consumer packaged goods industry, Johnson previously served as executive vice president at JM Smucker Company and held various leadership positions at Del Monte Foods, Big Heart Pet Brands, Campbell Soup Company, Kraft Foods and Colgate-Palmolive.

“It has been an honor and a privilege to serve on the Nautilus Board of Directors for the past twelve years,” said Johnson. “Backed by a group of seasoned administrators and an exceptional management team, Nautilus is on the path to profitable scale. I look forward to seeing how the company will continue to evolve to meet the needs of today’s consumers.” today, while respecting its core business vision of making the world a healthier place, one person at a time.”

Over the past few years, Johnson has helped lead efforts to revitalize the Nautilus Board of Directors, bringing in business leaders with fresh perspectives and diverse backgrounds to complement Nautilus’ deep understanding of the business. offered by long-time administrators. Since 2020, Nautilus has added four new members to the board of directors to improve the oversight of the company’s strategic objectives and the expansion of the knowledge and capacities of the board of directors. Johnson was also instrumental in onboarding Nautilus CEO and board member Jim Barr, who has been a catalyst for the company’s digital transformation efforts over the past three years.

“I step down from the Board with complete confidence in the diverse set of experiences, skills and perspectives represented by our Directors – and I am proud of what the Board and management have accomplished together. “, added Johnson.

Active in the philanthropic efforts of his community, Johnson is a trustee of the Adelphic Educational Fund, Wesleyan University, which provides scholarships and supports educational, literary and artistic programs. He is also a member of the steering committee for the Kilts Center for Marketing at the University of Chicago Graduate School of Business, which provides scholarships to top marketing students and helps the school guide its marketing program. Mr. Johnson is also a member of the Nutrition Roundtable, Harvard TH Chan School of Public Health, Harvard University.

“I would like to thank Carl for his years of dedicated service to our Board of Directors,” said Jim Barr, CEO of Nautilus, Inc. the future that will help us move forward as we continue our digital transformation With our consumer at the heart of everything we do, coupled with the right strategy, excellent progress towards our vision and disciplined execution , we emerged from the pandemic a much stronger company.

A new Chairman of the Board of Directors will be appointed following the Nautilus Annual Meeting of Shareholders on Tuesday, August 2, 2022.

For more information on the Nautilus leadership team, including our current Board of Directors, please visit our website.

About Nautilus, Inc.
Nautilus, Inc. (NYSE: NLS) is a global leader in digitally connected home fitness solutions. The company’s family of brands includes Bowflex®, Nautilus®, Schwinn® and JRNY®, its digital fitness platform. With a wide selection of exercise bikes, cardio equipment, and strength-training products, Nautilus, Inc. enables healthier living through individualized connected fitness experiences; and in doing so, envisions building a healthier world, one person at a time.

Based in Vancouver, Washington, the company’s products are sold directly to consumers on brand websites and through retail partners and are available in the United States and around the world. Nautilus, Inc. uses the Investor Relations page of its website (www.nautilusinc.com/investors) to make information available to its investors and the market.

This press release contains forward-looking statements (statements that are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including: projected, targeted financial, operating results and capital expenditures or forecast, including, but not limited to, sales growth rates, gross margins, operating expenses, operating margins, expected demand for the Company’s new and existing products, statements regarding the Company’s prospects, resources or capabilities; planned investments, strategic initiatives and planned or targeted results of these initiatives; the effects of the COVID-19 pandemic on the Company’s business; and planned operational initiatives and expected savings results of these initiatives. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause Nautilus, Inc.’s actual expectations to differ materially from these forward-looking statements also include: lower than expected demand for new or existing products; our ability to timely acquire inventory that meets our quality control standards from overseas single-source manufacturers at acceptable costs; risks associated with actual and potential delays, work stoppages or supply chain disruptions, including shipping delays due to severe shortages of shipping containers; an inability to pass through or otherwise mitigate the impact of raw material price increases and other cost pressures, including unfavorable foreign exchange rates and increased shipping costs; experience delays and/or higher-than-expected costs related to new product launches, entry into new markets or strategic initiatives; our ability to hire and retain key management personnel; changes in consumer fitness trends; changes in the media consumption habits of our target consumers or the effectiveness of our media advertising; a decline in consumer spending due to unfavorable economic conditions; risks related to the impact on our business of the COVID-19 pandemic or similar public health crises; softness in the retail market; the availability and timing of capital to fund our strategic initiatives, including the ability to raise capital on favorable terms or not at all; changes in financial markets, including changes in credit markets and interest rates that affect our ability to access these markets on favorable terms and the impact of any future impairment. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other documents filed with the Securities and Exchange Commission, including the “Risk Factors” set forth in our Annual Report on Form 10-K, supplemented by our quarterly reports. on Form 10-Q. These documents are available on our website or at www.sec.gov. You are cautioned that these statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements to reflect subsequent developments, events or circumstances.

Media:
Hanna Herrin
Nautilus, Inc.
360-859-2570
hherrin@nautilus.com

Carey Kern
The Hoffmann agency
503-754-7975
ckerns@hoffman.com

Investor Relations:
John Mills
ICR, LLC
646-277-1254
john.mills@ICRinc.com

Source: Nautilus, Inc.