Board of Directors

Mr. Coates is Director of Coolgardie Investments, a private investment vehicle that he founded in 2006. Coolgardie Investments makes direct investments in a small portfolio of private businesses across a mix of sectors. Mr. Coates has held management, directorship and advisory roles at such businesses. During the period from 2007 to 2012, Mr. Coates held various roles at National Australia Bank (NAB) at both the Australia and United Kingdom offices. From 2010 to 2012, Mr. Coates served as Director of Strategy for NAB Europe Ltd. where he was responsible for strategy and implementation of programs designed to ensure NAB Europe operated in accordance with the new financial regime mandated by the U.K. Financial Services Authorities. From 2007 to 2010, he served as a Director at NAB Private Wealth, where he managed a national team developing and distributing structured investments across NAB clients. Prior to joining NAB, Mr. Coates spent a number of years as General Manager, Funds Management at Hanover Group, where, among other things, he was responsible for compliance and risk management. Mr. Coates has also previously held various financial services roles at Westpac Banking Corporation and ANZ Banking Group. Mr. Coates received his Master of Applied Finance degree from Macquarie University and his DipFP from Deakin University.

Mr. Demasi serves as the Chief Product & Technology Officer of Canstar, a leading research agency and Australia’s biggest financial comparison site (as of April 2021), since April 2021. Since January 2021, Mr. Demasi has also served as a Board Member of Hydrogen Fuels Australia, and has been an Advisor with Keevo-Bitkey Technologies, Inc. since April 2021. Prior to his role at Canstar, Mr. Demasi served as Chief Transformation & Digital Ventures Officer at Ezcorp, Inc. (Nasdaq:EZPW), a provider of consumer finance with operations in the United States and Latin America, from October 2019 to March 2021. At Ezcorp, Mr. Demasi was responsible for leading company transformation, the digital business unit and new digital ventures. He was additionally a member of the Ezcorp Executive Committee. Mr. Demasi previously served as a Partner and Managing Director at BCG Digital Ventures, the corporate innovation and business-building arm of Boston Consulting Group. Prior to his time at BCG, Mr. Demasi served in leadership roles with two Australian financial services companies – the Westpac Group and National Australia Bank – in addition to serving as a council member on the Forrester eBusiness and Strategy Council amongst other board advisory roles across the technology sector in Australia.

Ms. Douglas joined our board of directors in April 2022. Ms. Douglas serves as the Chief Executive Officer and Managing Director of Cloud 7 Travel in Sydney Australia, since November 2011. Cloud 7 Travel is a boutique travel agency which provides high net worth clients with tailored travel solutions. Ms. Douglas also serves as a corporate advisor and consultant to By Group, an Indigenous person-owned and operated building and construction company, since February 2018 - where she advises in the areas of investment, funding and growth, risk policies and optimisation of resources and capabilities. She is also a mentor to Indigenous employees. Since November 2018, Ms. Douglas has acted as a private investor and co-founder of Crafty’s, a family friendly sports bar with operations in Queensland, Australia. In 2021, Ms. Douglas also co-founded and invested in Bird Royale, a sister company to Crafty’s, with locations in South - East Queensland, Australia. From November 2014 to October 2017, Ms. Douglas served on the Diamond Committee of the Sydney Children’s Hospital Foundation, acting as co-chair and raising funds from corporate and private sponsors. Ms. Douglas is currently finalising a Master of Business Administration degree, with a major in Finance from the University of Technology, Sydney. Ms. Douglas holds a high distinction average. Ms. Douglas also holds an Advanced Diploma of Business and an Advanced Diploma of Marketing and Event Management from Macleay College, Sydney as well as a Diploma of Commerce from Wirtschaftschule KV Winterthur, Switzerland. Ms. Douglas is multilingual, fluent (written and oral) in English, German, Swiss-German, French, Italian and Spanish and has conducted business in more than 30 countries.

Adam Gilchrist is a serial entrepreneur with 20 years’ experience in franchising, marketing and product development. Mr. Gilchrist co-founded the Company and has served as Co-Chief Executive Officer since 2014 and a member of the Company’s board of directors since 2017. In 2019, he was appointed as sole Chief Executive Officer. Effective upon the listing of our common stock on the NYSE, he will also serve as the Executive Chairman of our board of directors. The first business he founded was an e-payment service in Australia, which he sold to a public company. The second business he founded was Zippy Shell, a successful mobile self-storage company in the United States. Mr. Gilchrist also represented Australia in the Australian Schoolboy and U19 Rugby Teams and attended the Australian Institute of Sport on scholarship.

We believe that, as our co-founder and Chief Executive Officer, Mr. Gilchrist brings a wealth of experience with our business and industry to our board of directors, and his demonstrated business acumen and skills in entrepreneurship and business strategy make him qualified to serve on our board of directors. Mr. Gilchrist’s board service also provides a direct and open channel of communication between the board and management.

Richard Grellman is expected to become a member of our board of directors as of the effectiveness of the registration statement of which this prospectus forms a part. Mr. Grellman has been a professional non-executive director since 2000. Mr. Grellman currently serves as the Chairman of the Board for FBR Ltd, a company that designs, develops, and operates dynamically stabilized robots to address global needs, and the Chairman of the Board for IPH Ltd, a holding company for intellectual property and associated companies offering a wide range of IP services and products. Mr. Grellman is also the Lead Independent Director of The Salvation Army in Australia and a board member of Excelsia College. Prior to his current directorships, Mr. Grellman served Bisalloy Steel Group Ltd as a Director and Chairman of the Audit Committee from 2002 to 2019 and the Chairman of the Board from 2019 to 2020. He also was the Chairman of the Board for SuperConcepts Pty Ltd from 2012 to 2019, AMP Foundation from 2011 to 2018, and Genworth Mortgage Insurance (Australia) Ltd from 2012 to 2016. The Council of the University of New South Wales bestowed on Mr. Grellman the degree of Doctor of the University, honoris causa, in recognition of his eminent service to the University and broader community. Mr. Grellman was also appointed to hold the office as the Tribunal of The Statutory and Other Officers Remuneration Tribunal (SOORT) by the Governor of NSW in September 2014. Prior to becoming a professional director, Mr. Grellman enjoyed a 32-year career with KPMG, serving in various roles, including as a partner from 1982 to 2000, a member of KPMG’s National Board from 1995 to 1997 and National Executive from 1997 to 2000.

We believe Mr. Grellman is qualified to serve on our board of directors due to his significant experience as a non-executive director and his expertise in accounting and business operations.

Liz Josefsberg is expected to become a member of our board of directors as of the effectiveness of the registration statement of which this prospectus forms a part. Liz Josefsberg CPT, NES has over 20 years of experience in the health, wellness and weight loss industry. Since 2013 she has served as a consultant for GreaterThan Fitness Inc., a consulting firm she founded, which specializes in wellness program development based on behavior modification and the online education of wellness through technology. Ms. Josefsberg’s work today centers on advising and consulting for companies at the intersection of weight loss, wellness and emerging health solutions. She also consults in the wearable technology sector, creates weight loss programs for companies and is deeply involved in helping technology enabled weight loss and health devices come to market. She has authored several weight-loss books, most notably, Target 100 - The World’s Simplest Weight Loss Program in Six Easy Steps, and is a frequent motivational speaker and panelist at health and wellness events like CES. Prior to founding her consulting firm, Ms. Josefsberg worked for 11 years as the Director of Brand Advocacy on the science and content teams and as a celebrity weight loss coach and Leader for Weight Watchers.

We believe Ms. Josefsberg is qualified to serve on our board of directors due to her extensive knowledge and experience in the health and wellness industry.

Chris Payne has served as our Chief Financial Officer since June 2018. He has also served as our Treasurer and as a Director since March 2019. From April 2008 to April 2018, Mr. Payne served as the Chief Financial Officer of the World Surf League, the governing body for professional surfing and the organization responsible for professional surf competitions and surf-event broadcasting. Prior to joining the World Surf League, Mr. Payne served as Group Management Accountant for the Leisure Asset Acquisition Division of the Macquarie Group, Macquarie Leisure Operations (ASX: MLO now Ardent Leisure ALG). Mr. Payne, a qualified Chartered Accountant, began his career working in public practice specializing in M&A and Advisory Services. He received his Bachelor of Commerce with a major in Banking, Accounting and Finance from Griffith University and subsequently received a Graduate Diploma of Chartered Accounting (GradDipCA) from The Institute of Chartered Accountants.

We believe Mr. Payne’s experience in helping to build the Company and his expertise in accounting and business operations make him qualified to serve on our board of directors.

Michael Raymond joined our board of directors in March 2019. He was appointed to our board of directors by MWIG LLC, a special purpose private investment vehicle led by FOD Capital and Mark Wahlberg, pursuant to MWIG’s director designation rights under the Stockholders’ Agreement (see “—Board Composition”). Mr. Raymond has served as Manager of FOD Capital since December 2017. Mr. Raymond has practiced law for over 38 years in the areas of securities regulation, corporate finance, mergers & acquisitions and general corporate matters. From 2004 to 2019, Mr. Raymond served as a senior member in the Corporate, M&A, Private Equity, Securities and Tax Group of Dickinson Wright PLLC, a national full-service law firm. From 2008 to 2017, Mr. Raymond served as the Practice Department Manager. Mr. Raymond transitioned to Of Counsel in 2020 and continues to serve in that role in addition to his duties with FOD Capital. Mr. Raymond received his B.A. and M.S.A. (Accountancy) degrees from DePaul University, his J.D. degree from John Marshall Law School and an L.L.M. (Securities Regulation) degree from Georgetown University Law Center.

We believe Mr. Raymond is qualified to serve on our board of directors due to his legal background, especially with regard to his extensive knowledge of corporate governance matters from his over 38 years of advising clients on the topic, as well as his business acumen which he has gained from both his legal representation of a vast number of public and private companies and from his business and investment experience in serving as Manager of FOD Capital.

Darren Richman joined our board of directors in October 2020. Mr. Richman co-founded Kennedy Lewis with David Chene in 2017 and is currently Co-Portfolio Manager of Kennedy Lewis and Co-Chair of its Investment Committee and Executive Committee. Mr. Richman was formerly a Senior Managing Director with Blackstone’s global credit business, GSO Capital Partners (now known as Blackstone Credit) from 2006 to 2016 where he focused on special situations and distressed investments and sat on the Investment Committee for many of Blackstone Credit’s special situation-oriented funds. Before joining Blackstone, Mr. Richman worked at DiMaio Ahmad Capital, where he was a Founding Member and the Co-Head of its Investment Research Team, from 2003 to 2006. Prior to joining DiMaio Ahmad, Mr. Richman was a Vice President and Senior Special Situations Analyst at Goldman Sachs, from 1999 to 2003. Mr. Richman began his career with Deloitte & Touche, ultimately serving as a Manager in the Firm’s Mergers & Acquisitions Services Group, from 1994 to 1999. Mr. Richman is also on the Boards of Vemo Education, Eastman Kodak and Outward Bound USA. He is a member of the Economic Club of New York and formerly served on its strategic planning committee. Mr. Richman received a BS/BA degrees in Accounting from the University of Hartford in 1993, and an MBA from NYU’s Stern School of Business in 2000. He was formerly a Certified Public Accountant and a Member of the American Institute of Certified Public Accountants.

We believe Mr. Richman is qualified to serve on our board of directors due to his broad business and financial background in special situations and opportunistic investing and his position as a board member on multiple other companies.

Mark Wahlberg joined our board of directors in March 2019. He was appointed to our board of directors by MWIG LLC, a special purpose private investment vehicle he leads with FOD Capital, pursuant to MWIG’s director designation rights under the Stockholders’ Agreement (see “—Board Composition”). Mr. Wahlberg is a well-known actor, producer, investor and entrepreneur. He is a co-founder and manager of numerous businesses, including Wahlburgers, a restaurant chain that has expanded to 32 locations in North America and Europe; Performance Inspired Nutrition, a sports supplement line which now includes over 50 products; Municipal Apparel LLC, a designer and retailer of sport utility apparel; and Unrealistic Ideas LLC, a production company specializing in reality and non-scripted productions. Mr. Wahlberg is also a co-owner of the Columbus, Ohio Mark Wahlberg Chevrolet and Mark Wahlberg Buick GMC, car dealerships. In addition, Mr. Wahlberg served on the board of directors of AQUAhydrate, Inc. from January 2011 to February 2019. A committed philanthropist, Mr. Wahlberg started the Mark Wahlberg Youth Foundation in 2001 to benefit inner-city children and teens.

We believe Mr. Wahlberg is qualified to serve on our board of directors due to his entrepreneurial experience as well as his knowledge of the fitness and wellness industries.

Dr. Lee Wallace is expected to become a member of our board of directors as of the effectiveness of the registration statement of which this prospectus forms a part. Dr. Wallace has been a consultant to the Company since August 2016, where he advised our athletics department in the design and implementation of our workouts. In this role he also attends and presents at international conferences and educates trainers and members on current research and best practices in health, fitness, and safety. We and Dr. Wallace have agreed that ,upon the effectiveness of the registration statement of which this prospectus forms a part, Dr. Wallace will cease to serve as a consultant to the Company. Dr. Wallace has also served as an academic at the University of Technology Sydney since August 2015. He holds the position as Course Director for Sport and Exercise Science, where he oversees accreditation, course administration and is a member of the academic board of the Faculty of Health. Dr. Wallace is an author of numerous academic journal publications on health and fitness and lectures in Structural and Functional Anatomy, Strength and Conditioning, and Exercise Physiology. Dr. Wallace graduated from the University of Technology Sydney, with a Doctor of Philosophy in Exercise Physiology (2012), an Honours in Human Movement (2004), and a Bachelor of Arts in Sport and Exercise Management (2002).

We believe Dr. Wallace is qualified to serve on our board of directors due to his academic background in athletics, strength and conditioning as well as his knowledge of the health and safety in fitness training.